Arab Contractors, China's CSCEC form alliance to implement projects in Egypt, Africa
Prime Minister Mostafa Madbouly highlighted the significance of this protocol as part of ongoing efforts to strengthen the strategic relationship between Egypt and China, aimed at expanding mutual cooperation and achieving shared objectives.
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The National
2 hours ago
- The National
At least four killed as armed groups attack Syria's security troops in Sweida
Armed groups attacked Syria 's internal security troops in the southern city of Sweida on Sunday, killing at least four people and injuring others, local media and war monitor reported. Syrian Observatory for Human Rights said that three Syrian security forces personnel were killed "as clashes erupted with local factions around Tal Hadid in the western Sweida countryside". The Observatory also reported the death of a "local fighter". A source told Syria's state-run Al Ekhbariya TV that the armed groups breached the ceasefire deal made in the predominantly Druze region last month after sectarian clashes killed hundreds of people, many of them civilians. Tal Hadid is a 'key control point' at a relatively high altitude, according to the monitor, allowing whoever controls it to overlook neighbouring areas. Fighting also erupted around the city of Thaala, the monitor said, 'following bombardment of the area with shells and heavy weapons launched from areas under the control of government forces, while the sound of explosions and gunfire was heard in various parts of Sweida city'. According to the monitor and Sweida locals, Damascus has been imposing a siege on the province, with the Observatory saying the government wants to 'force inhabitants to comply'. Clashes erupted in early July between Bedouin and Druze factions, after the kidnapping of a Druze trader on a government-controlled road to the north of the city, and escalated into widespread violence in which more than 1,000 people were killed. Syrian government troops were sent to contain the unrest but Druze militias, who deeply distrust the newly established authorities in Damascus and accuse of siding with the Bedouin, mobilised to push them back. The Druze are a minority offshoot of Islam, with followers in Syria, Lebanon and Israel. Sweida province is predominantly Druze but is also home to Sunni tribes, and the communities have been scarred by long-standing tension over land and other resources. A US-brokered truce ended the fighting, which had raged in Sweida city and surrounding towns for nearly a week. The government in Damascus said it would investigate the clashes, setting up a committee for that purpose. The Sweida bloodshed last month was a major test for interim President Ahmed Al Shara, after a wave of sectarian violence in March that killed hundreds of Alawite citizens in the coastal region. Israel in July attacked the main Syrian military compounds in the heart of Damascus, in a widening aerial campaign in response to the offensive on Sweida. Israel said it was acting to defend the Druze minority. Also on Sunday, the Israeli army announced it conducted a raid on targets in southern Syria the previous day, in which it seized weapons and questioned several suspects it said were involved in trafficking weapons in the area.
The National
8 hours ago
- The National
Saudi Arabia and Jordan denounce Itamar Ben-Gvir's 'provocative' visit to Al Aqsa Mosque
Saudi Arabia has condemned 'provocative' practices by Israeli officials at Al Aqsa Mosque compound, after Israel's far-right National Security Minister Itamar Ben-Gvir visited the holy site on Sunday. 'Such practices fuel conflict in the region,' the kingdom's Foreign Ministry said. The Jordanian Foreign Ministry described the act as a 'flagrant violation of international law and international humanitarian law, an unacceptable provocation, and a condemned scalation', stressing that Israel holds no sovereignty over Al Aqsa Mosque. Under a delicate decades-old status quo arrangement with Muslim authorities, the compound is administered by a Jordanian religious foundation and Jews can visit but may not pray there. The Waqf, the foundation that administers the complex, said Mr Ben-Gvir was among another 1,250 who ascended the site and who it said prayed, shouted and danced. Israeli Prime Minister Benjamin Netanyahu said in response to the visit that: 'Israel's policy of maintaining the status quo on the Temple Mount has not changed and will remain unchanged.' New anger erupted in Israel after Hamas and Palestinian Islamic Jihad released two videos of Israeli hostages held in Gaza, as efforts to get a ceasefire deal stall and the country's far-right government appears to favour continued fighting to a ceasefire. PIJ released a six-minute video on Thursday showing distressed hostage Rom Braslavski, 21, which it said was recorded days before contact was lost with his captors. The next day, Hamas released a video of emaciated Evyatar David in a tunnel, part of which filmed him digging a hole that he said he thought would be his grave. The video was published as Steve Witkoff, US Middle East envoy and a pivotal figure in ceasefire negotiations, was visiting relatives of Israeli hostages. The footage caused rage in Israel, as well as the Israeli government. Mr Braslavski's mother said: 'Don't cry over the children in Gaza – cry for Rom,' according to The Times of Israel. Opposition leader Yair Lapid wrote in a post on X: 'Let every government member watch Evyatar's video tonight before going to sleep and try to fall asleep while thinking of Evyatar trying to survive in a tunnel.' Protesters also blocked a motorway in Tel Aviv on Sunday morning, calling for a hostage deal in solidarity with the hostages. Polling consistently suggests that Israelis also oppose the war, with the majority concerned for the well-being of hostages and Israeli soldiers. Concern over the war's effects on Gazan civilians remains low, with 74 per cent of Israeli Jews saying 'they are not distressed by the humanitarian situation in Gaza', according to a poll published on Sunday by Israeli think tank INSS. The continuing opposition to the war inside Israel comes as many ministers double down on the necessity of continuing the conflict. Far-right Israeli Heritage Minister Amichay Eliyahu said on Wednesday that releasing hostages should not be the main goal of the war. '[Hostages] should be called 'prisoners of war … and 'prisoners of war' are dealt with at the end of the war,' he added. Mr Ben-Gvir, who leads the Otzma Yehudit party to which Mr Eliyahu belongs, said on Sunday that the 'only way' to return hostages and win the war against Hamas was by sending the message that 'we are already occupying all of the Gaza Strip, declaring sovereignty across the entire Gaza Strip, eliminating every Hamas member and encouraging voluntary emigration'. Mr Ben-Gvir made the comments at the flashpoint Al Aqsa compound in Jerusalem where he also prayed, challenging rules covering one of the most sensitive sites in the Middle East. Hamas called its attacks on southern Israel on October 7, 2023, 'Al Aqsa Flood' and said they were in part response to the breaches of the mosques status quo, including by ministers in Mr Netanyahu's government.
Khaleej Times
8 hours ago
- Khaleej Times
Dubai leads gains in GCC equities in July with almost 8% surge
Dubai continued to outperform other GCC stock markets in July, according to a report published on Sunday. According to Kamco Invest's GCC Markets Monthly Report, the DFM General Index posted its fourth consecutive monthly gain, rising 7.9 per cent to close at 6,159.2 points—marking the strongest monthly performance across the region. This rally pushed the index's year-to-date (YTD) return to 19.4 per cent, the highest among GCC markets in 2025. Sector performance was broadly positive, with five out of eight sector indices recording gains. The Financials Index led the charge, surging 12.1 per cent, followed by Real Estate (+11.7 per cent) and Industrials (+6.9 per cent). The Financials Index was buoyed by double-digit share price increases in major players such as Commercial Bank of Dubai (+20.1 per cent) and Emirates NBD (+17.3 per cent). Conversely, the Consumer Discretionary Index fell 4.2 per cent, the steepest decline among sectors. Bloomberg's monthly stock performance data highlighted Ekttitab Holding Company as the top gainer, soaring 43.2 per cent in July. United Foods Co and Commercial Bank of Dubai followed with gains of 21.5 per cent and 20.1 per cent, respectively. On the downside, International Financial Advisors led the decliners with a 9.2 per cent drop, while National General Insurance and Dubai Refreshments Company fell 8.1 per cent and 7.6 per cent, respectively. Trading activity also picked up momentum. Total share volume rose 7.4 per cent to 7.5 billion shares, up from 7.0 billion in June. The value of shares traded increased 10.7 per cent to Dh16.7 billion. Union Properties led in trading volume with 1.2 billion shares exchanged, followed by Drake & Skull International (836.3 million) and Deyaar Development (669.7 million). In terms of value, Emaar Properties topped the chart with Dh3.6 billion in trades, followed by Dubai Islamic Bank (Dh1.5 billion) and Emirates NBD (Dh1.2 billion). Abu Dhabi maintains upward momentum The FTSE ADX Index in Abu Dhabi also recorded its fourth straight monthly gain, rising 4.1 per cent in July after a 2.8 per cent increase in June. The index closed at 10,370.66 points, bringing its YTD gain to 10.1 per cent. Seven out of ten sector indices posted gains, with Health Care, Financials, and Real Estate driving the overall growth. The Health Care Index led with an 11.0 per cent rise, closing at 2,162.1 points, supported by gains across all four constituent companies—most notably PureHealth, which jumped 11.9 per cent. The Real Estate Index climbed 7.0 per cent to 14,115.3 points, bolstered by price increases in all five companies, including a 20.2 per cent surge in Al Khaleej Investment Co. Meanwhile, the Utilities Index saw the sharpest decline, falling 4.6 per cent. Regional overview Across the region, GCC markets continued to rise in July, driven by optimism around Q2 earnings. The MSCI GCC Index posted a 2.2 per cent gain, its second consecutive monthly increase, with broad-based contributions from all exchanges. On a YTD basis, the index was up 3.7 per cent, reflecting positive momentum across most markets—except Saudi Arabia and Bahrain, which declined by 9.3 per cent and 1.5 per cent, respectively.
