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Straits Times
6 days ago
- Business
- Straits Times
Syria signs $800 million agreement with DP World to bolster ports infrastructure
Sign up now: Get ST's newsletters delivered to your inbox FILE PHOTO: The corporate logo of DP World is seen at Jebel Ali Port in Dubai, United Arab Emirates, December 27, 2018. Picture taken December 27, 2018. REUTERS/Hamad I Mohammed/File Photo Syria's General Authority for Land and Sea Ports on Sunday signed a $800 million agreement with UAE's DP World to bolster Syrian ports infrastructure and logistical services, Syrian state news agency SANA reported. The agreement follows on from a memorandum of understanding signed between the two sides in May. The deal with DP World, a subsidiary of United Arab Emirates investment company Dubai World, focuses on developing a multi-purpose terminal at Tartous on Syria's Mediterranean coast and cooperation in setting up industrial and free trade zones. The signing ceremony was attended by Syrian President Ahmed al-Sharaa. Last month, U.S. President Donald Trump signed an executive order terminating a U.S. sanctions programme on Syria, paving the way for an end to the country's isolation from the international financial system and for the rebuilding of its economy shattered by the civil war. The removal of U.S. sanctions will also clear the way for greater engagement by humanitarian organisations working in Syria, easing foreign investment and trade as the country rebuilds. REUTERS
The Star
11-07-2025
- Sport
- The Star
Cricket-Campher becomes first male cricketer to take five wickets in five balls
Cricket - ICC Men's T20 World Cup 2021 - Round 1 - Group A - Namibia v Ireland - Sharjah Cricket Stadium, Sharjah, United Arab Emirates - October 22, 2021 Ireland's Curtis Campher during the warm up before the match REUTERS/Hamad I Mohammed/File Photo (Reuters) - Ireland all-rounder Curtis Campher made history by becoming the first male player in professional cricket to claim five wickets in five balls, achieving the feat on Thursday. He did so while playing for Munster Reds during their Inter-Provincial T20 Trophy clash against the North-West Warriors in Dublin, with Munster ultimately winning the match by 100 runs. Campher began his spell by bowling Jared Wilson and trapping Graham Hume lbw to end the 12th over, then returned in the 14th to complete a hat-trick with the dismissal of Andy McBrine, before removing Robbie Millar and Josh Wilson to finish the streak. "I wasn't really sure what was happening," he told Cricket Ireland. "I just kind of stuck to my guns and kept it real simple and luckily it kind of went off." Zimbabwe women's all-rounder Kelis Ndhlovu was the first in achieving the rare feat, after she claimed five wickets in five consecutive balls during a domestic under-19 T20 match against Eagles Women in 2024. (Reporting by Tommy Lund in Gdansk; Editing by Himani Sarkar)
Straits Times
11-07-2025
- Sport
- Straits Times
Campher becomes first male cricketer to take five wickets in five balls
Sign up now: Get ST's newsletters delivered to your inbox Cricket - ICC Men's T20 World Cup 2021 - Round 1 - Group A - Namibia v Ireland - Sharjah Cricket Stadium, Sharjah, United Arab Emirates - October 22, 2021 Ireland's Curtis Campher during the warm up before the match REUTERS/Hamad I Mohammed/File Photo Ireland all-rounder Curtis Campher made history by becoming the first male player in professional cricket to claim five wickets in five balls, achieving the feat on Thursday. He did so while playing for Munster Reds during their Inter-Provincial T20 Trophy clash against the North-West Warriors in Dublin, with Munster ultimately winning the match by 100 runs. Campher began his spell by bowling Jared Wilson and trapping Graham Hume lbw to end the 12th over, then returned in the 14th to complete a hat-trick with the dismissal of Andy McBrine, before removing Robbie Millar and Josh Wilson to finish the streak. "I wasn't really sure what was happening," he told Cricket Ireland. "I just kind of stuck to my guns and kept it real simple and luckily it kind of went off." Zimbabwe women's all-rounder Kelis Ndhlovu was the first in achieving the rare feat, after she claimed five wickets in five consecutive balls during a domestic under-19 T20 match against Eagles Women in 2024. REUTERS
Economic Times
23-06-2025
- Business
- Economic Times
Iran US Airstrikes: Will war risk insurance premiums rise for vessels in Middle East? Here's insurance costs for ships passing through Gulf region as oil companies remove foreign staff from Iraq
FILE PHOTO: Oil tankers pass through the Strait of Hormuz, December 21, 2018. REUTERS/Hamad I Mohammed/File Photo Synopsis War risk insurance premiums for Gulf shipping have increased after US airstrikes on Iran. Oil firms BP, Eni, and TotalEnergies are evacuating foreign staff from Iraqi oilfields. Iraq's oil output remains stable. Chinese and Russian companies have not changed their operations. Costs for shipping are rising sharply. Insurance costs for ships passing through the Gulf region have increased after US strikes on Iran's nuclear sites. Oil companies are removing foreign staff from Iraq, but production remains steady. ADVERTISEMENT War risk insurance for vessels entering the Middle East Gulf has risen to 0.5%. Last week, the rate was between 0.2% and 0.3%. The increase followed US military action against Iranian nuclear facilities. Sources from the insurance industry confirmed this to Reuters and The premium rise affects the total cost of a seven-day journey through the Gulf. The premium is calculated based on the ship's value. The increase adds tens of thousands of dollars per day to the overall expense. Each ship is evaluated individually by underwriters, but 0.5% was a common rate as of Monday. Also Read: World War 3 begins? After Iran, Israel, US, Yemen, now Saudi Arabia, Qatar and Iraq get embroiled in conflict while Kuwait, Bahrain and the UAE close airspace. More nations may join either side soon. See what's happening now and who may be Iran's next target BP, Eni and TotalEnergies have begun removing foreign staff from oilfields in Iraq. The Basra Oil Company confirmed this action. These companies operate in different parts of Iraq's southern oilfields. Iraq shares a border with Iran, where tensions have grown after recent military evacuations, oil production in Iraq is stable. Exports from the southern oilfields remain at 3.32 million barrels per day. Two officials from Iraq's oil industry confirmed this. Basra Oil says the removal of foreign staff has not affected production levels so far. ADVERTISEMENT Also Read: NYC Mayor Race: Who is Zohran Mamdani and what is his connection with India? Here's why is he making headlines BP has pulled out foreign workers from the Rumaila field. Italy's Eni cut staff at the Zubair field from 260 to 98. Those who remain continue to work with local teams. A spokesperson for Eni called the move a precaution and said the company is watching the situation closely. ADVERTISEMENT TotalEnergies has evacuated 60% of its foreign workers. The company has not commented publicly. Basra Oil says production is not affected. Chinese-run oilfields like West Qurna/1, Siba, and Faihaa are operating without any staff reductions. Russian company Lukoil has also reported no disruptions. ADVERTISEMENT Why have insurance premiums for Gulf shipping increased? The premiums rose due to US strikes on Iran and concerns over shipping risks through the Strait of Hormuz. Is Iraq's oil production affected by staff evacuations? No, Iraq's oil output continues normally despite the temporary evacuation of some foreign personnel. (You can now subscribe to our Economic Times WhatsApp channel) (Catch all the US News, UK News, Canada News, International Breaking News Events, and Latest News Updates on The Economic Times.) Download The Economic Times News App to get Daily International News Updates. Iran US Airstrikes: Will war risk insurance premiums rise for vessels in Middle East? Here's insurance costs for ships passing through Gulf region as oil companies remove foreign staff from Iraq Iran US Airstrikes: Will war risk insurance premiums rise for vessels in Middle East? Here's insurance costs for ships passing through Gulf region as oil companies remove foreign staff from Iraq Musk's lawyers say he doesn't use a computer — despite dozens of his own laptop posts proving otherwise Musk's lawyers say he doesn't use a computer — despite dozens of his own laptop posts proving otherwise Marjorie Taylor Greene sounds the nuclear alarm, warns Trump is dragging America straight into World War III Marjorie Taylor Greene sounds the nuclear alarm, warns Trump is dragging America straight into World War III Iran Israel war: Will Qatar, UAE, Saudi Arabia, Arab league, Gulf countries now join US, Tel Aviv against Tehran? Iran Israel war: Will Qatar, UAE, Saudi Arabia, Arab league, Gulf countries now join US, Tel Aviv against Tehran? Hailey and Justin on the verge of divorce? Bieber's cryptic silent treatment post raises eyebrows Hailey and Justin on the verge of divorce? Bieber's cryptic silent treatment post raises eyebrows Iran sleeper cell threat hits U.S. soil after base attack? Trump's sudden G7 exit linked to terror warning, reports say Iran sleeper cell threat hits U.S. soil after base attack? Trump's sudden G7 exit linked to terror warning, reports say Common sense absent: Judge rejects Trump admin's push to jail Kilmar Abrego Garcia before trial Common sense absent: Judge rejects Trump admin's push to jail Kilmar Abrego Garcia before trial World War 3 begins? After Iran, Israel, US, Yemen, now Saudi Arabia, Qatar and Iraq get embroiled in conflict while Kuwait, Bahrain and the UAE close airspace. More nations may join either side soon. See what's happening now and who may be Iran's next target World War 3 begins? After Iran, Israel, US, Yemen, now Saudi Arabia, Qatar and Iraq get embroiled in conflict while Kuwait, Bahrain and the UAE close airspace. More nations may join either side soon. See what's happening now and who may be Iran's next target Shocking accusation: JD Vance hints Iran hid Uranium after alleged tip-off — from Donald Trump? Shocking accusation: JD Vance hints Iran hid Uranium after alleged tip-off — from Donald Trump? Iran strikes US base in Qatar, Saudi airspace closed — WWE Night of Champions now hanging by a thread NEXT STORY
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First Post
23-06-2025
- Business
- First Post
Oman to become first Gulf country to impose income tax
In a bid to diversity revenue sources and reduce public debt, Oman has decided to impose personal income tax. This would make Oman the first Gulf country to impose income tax. read more Omani men pass in front of Canadian cafe and bake shop Tim Hortons in City Center Mall in Muscat, Oman, February 11, 2019. Picture taken February 11, 2019. (Reuters/Hamad I Mohammed) Oman has announced the imposition of personal income tax, becoming the first Gulf country to do so. The move to collect income tax is part of Oman's attempt to diversify revenue sources and reduce public debt. In the petroleum-rich Gulf region, countries do not impose a personal income tax. Firstly, governments earn plenty of revenue from oil and gas. Secondly, zero personal income tax attract high net worth individuals. Thirdly, these countries make up for revenue lost from foregoing income tax with corporate income taxes, value-added tax (VAT), customs duties and fees. STORY CONTINUES BELOW THIS AD The personal income tax collection will start in Oman in 2028. What we know of Oman's income tax? Oman will collect 5 per cent personal income tax on taxable income from people earning more than 42,000 Omani rials ($109,091) per year starting 2028, according to Reuters. 'The law also includes deductions and exemptions that take into account the social situation in the Sultanate of Oman, such as education, healthcare, inheritance, zakat, donations, primary housing,' the news agency quoted Omani tax authority as saying. The tax authority said such a tax will apply to around 1 per cent of the Omani population. Economy Minister Said bin Mohammed Al-Saqri was quoted as saying by Bloomberg that the measure will reduce reliance on oil revenues by diversifying public revenue while maintaining social spending. Even as no other Gulf country has announced such a measure, experts have said that might change in coming years as expenditures of governments rise and revenue sources remain stagnant, leading to deficits. Saudi Arabia and Bahrain are set to have deficits this year. The International Monetary Fund (IMF) has said that more Gulf countries may introduce personal income tax in coming years, particularly as they prepare for a world in which fossil fuel loses
