Latest news with #MuhammadAli
Arab News
16 hours ago
- Business
- Arab News
Pakistan plans to finalize Roosevelt Hotel privatization structure at next cabinet committee meeting
KARACHI: Pakistan is expected to finalize the transaction structure for the privatization of the Roosevelt Hotel in New York at the next meeting of the Cabinet Committee on Privatization, the government said in a statement on Saturday. Located in Midtown Manhattan, the hotel is owned by Pakistan International Airlines Investment Limited (PIAIL) and occupies a full city block on Madison Avenue and 45th Street. It has also remained one of Pakistan's most high-profile yet politically sensitive overseas assets. 'The base price and expected proceeds from the privatization of the Roosevelt Hotel will depend on the transaction structure and final terms approved by the government,' the Privatization Commission said in an official handout. 'The transaction structure is expected to be finalized at the next meeting of the Cabinet Committee on Privatization.' The statement informed no base price had yet been set for the property, rebutting some local media reports that claimed the government had fixed a $100 million floor. It also pointed out such a value could only be determined at the time of bidding, adding that the deal's potential value would depend on the transaction structure and final terms approved by the cabinet committee. Over the past two decades, successive Pakistani governments have floated plans to sell, lease or redevelop the property, but no proposal has advanced beyond early-stage planning. Earlier this month, Muhammad Ali, the prime minister's adviser on privatization, told Arab News that the government had completed the hotel's baseline valuation and appointed US-based consultancy JLL to conduct market sounding. 'We just need to get approval from the cabinet committee on the structure, and we'll move ahead,' he said.
Business Recorder
21 hours ago
- Business
- Business Recorder
No price tag yet: govt denies $100mn valuation for Roosevelt Hotel
The Privatisation Commission of Pakistan on Saturday clarified that no base price has yet been determined for the proposed sale of the iconic Roosevelt Hotel in New York, refuting recent media reports claiming a $100 million valuation. 'The Privatisation Commission has noticed a misleading news report appearing on 27th June 2025 in certain news media outlets asserting that Pakistan has set $100 million as base price for the sale of Roosevelt Hotel. 'It is clarified that no base price has yet been determined for Roosevelt Hotel, New York's privatisation, which can only be set at the time of bidding,' read the statement. The commission highlighted that the report misquotes Adviser to the Prime Minister on Privatisation, Muhammad Ali, who had referred to an estimated initial partial payment to be made by the successful party on signing the agreement, expected during the current fiscal year. 'The base price and timing for realisation of total proceeds from the privatisation of Roosevelt Hotel will be based on transaction structure and final terms of the agreement approved by the government,' it said, with the finalisation of the transaction structure expected to be taken up in the next CCOP meeting. Last month, Defence Minister Khawaja Asif told the National Assembly that the government is exploring a joint venture to operate the Roosevelt Hotel, aiming for long-term economic benefits rather than selling the asset outright. Describing the nearly century-old 19-story hotel as 'a strategic gem,' Asif praised its prime Manhattan location and stressed the government's intent to retain ownership. 'Selling might patch a short-term fiscal wound,' he said, 'but a joint venture ensures Pakistan keeps a foot on that lucrative property while raking in steady profits.' The Roosevelt Hotel has long been viewed as Pakistan's prized overseas asset, with repeated calls over the years to sell it for quick cash. The landmark hotel closed in 2020 after sustaining massive financial losses associated with the COVID-19 pandemic. It became operational in 2023 as a shelter for asylum seekers after the Pakistani government inked a three-year $220 million lease agreement with the New York City government to operate the Roosevelt Hotel. In February 2024, the government signed a Financial Advisory Services Agreement (FASA) with a consortium led by Jones Lang La Salle Americas Inc (JLL) for the joint venture development of the Roosevelt Hotel. In November 2024, it was learnt that Qatar had explored partnering with Pakistan in managing the Roosevelt Hotel. The hotel, which opened in 1924, was named after President Theodore Roosevelt. It is located next to the Grand Central Terminal, the city's central train terminal.
Hamilton Spectator
2 days ago
- Entertainment
- Hamilton Spectator
Hamilton-area Today: It'll be a hot summer day as holidays start + Encampment protest persists + Orange cloud over Dofasco
G ood morning! It's June 27, and here are the top stories today in the Hamilton area. Summer holidays have started and the heat has crept back up to give you the best summer vibes. It'll feel like 38 C with the humidex. Showers and a risk of thunderstorm add to the mix, says Environment Canada . The overnight low will drop to 20 C into Saturday, when sunshine will rule the weekend. Find the latest provincial road closures and traffic incidents via Ontario 511 . Taking transit today? Find the latest GO Transit service updates here . The latest information on local bus services are available here: Hamilton , Burlington and Oakville . 97-year-old Porferia Mabalhin wore red and white, and held mini Canadian flags, taking the oath to become a Canadian citizen. Homeless demonstrators call for more housing, and resist encampment enforcement. The company said it is investigating what caused the Tuesday evening plume over east Hamilton. Recruitment continues for the associate medical officer of health and new CEO. A bit of Old Blighty was recreated in a section of Gore Park, near King Street East and John Street South, last week. The eight-part series is set in the early part of Muhammad Ali's career — the 1950s and 1960s — and focuses more on his family and his upbringing. Like everything involving science, I find electricity mysterious. I also obviously have a weak grasp of how it works. This happened on a Saturday, so the only solution was to do nothing, writes Lorraine Sommerfeld. The Bareback Riders will debut their new 'pure country' set Saturday night at the Cat and Fiddle. Subscribe to our newsletters for the latest local content . Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
Daily Mirror
2 days ago
- Sport
- Daily Mirror
'I'm Muhammad Ali's grandson - I feel the pressure but have a great opportunity'
Biaggio Ali Walsh is set to fight Ronnie Gibbs in the PFL on Friday night, and the mixed martial artist has spoken about the pressure that he feels in the fight game given he is the grandson of Muhammad Ali Biaggio Ali Walsh has explained that he feels the pressure of being the grandson of Muhammad Ali everytime he steps into the cage. A man who needs no introduction whatsoever, Ali is considered to be the greatest boxer of all time. A three-time world heavyweight champion who retired with a record of 56-5 in 1981, the People's Champ shared the ring with - and got the better of - some of boxing's biggest names during his heyday. His incredible speed, devastating precision and calculated footwork saw him get his hand raised over the likes of Leon Spinks, George Foreman, Sonny Liston and Joe Frazier, while his unique showboating made him look like nobody was ever on his level. And to a certain extent, Walsh has been showing many of his grandfather's traits in the world of mixed martial arts. The 26-year-old, who trains out of Xtreme Couture in Las Vegas, Nevada alongside the likes of Sean Strickland, Dan Ige, Manel Kape and Magomed Ankalaev, began plying his trade as an amateur in 2022. However, his journey to the elite level of the sport hasn't been without its setbacks. Walsh lost his first amateur bout to Devin Rothwell via a second-round rear-naked choke, and he believes that the hype surrounding his name took a huge hit at the time as a result. However, the Professional Fighters League saw things differently, believing in the star when nobody else would give him an opportunity. Speaking exclusively to Mirror Fighting, Walsh said: "I love the PFL. You know, it's crazy, the PFL has given me a shot when I thought nobody believed in me. I heard of the PFL coming to contact me when I lost my first amateur fight. "So I was 0-1 as an amateur, and then the PFL hit up my dad. They were like, 'Your son's got potential, man.' And I'm like, 'What?' So, yeah, my hat goes off to the PFL, man. "They do everything right. They treat their fighters great. They believed in me at a time where I didn't even believe in myself. So all credit to them, man." Walsh picked up a first-round knockout over Bradley Seaver in his next fight at Crown Fighting Championship, before he signed with the PFL still as an amateur - going on a six-fight streak before turning pro in last year. Fast forward to 2025, and Walsh currently holds an undefeated record of 2-0 with wins over Emmanuel Palacio and Brian Stapleton in February and August 2024 respectively. While Walsh may seem cool, calm and collected from the outside looking in, he admitted that he still feels the pressure of his grandfather's legacy every time he steps into the cage. He added: "I feel it. I feel it all the time. I felt it when I was a kid. I felt it my whole life, really. Muhammad Ali, that's one of the biggest names in sports. And yeah, I feel it." However, rather than crumbling under the heavy weight of expectations, Walsh explained that he utilises it as a source of motivation, adding: "I feel like that pressure is going to bring out the best version of myself. And yeah, I mean, at the end of the day there was that pressure. "But I still think that in the grand scheme of things, it doesn't matter. I like to take that pressure. I like to give my opponents that pressure. I like them to feel the presence when I'm in that cage, you know? 'I'm fighting Muhammad Ali's grandson...' I like to give them that kind of pressure, the stage, the lights, all that. I want them to feel what I'm feeling - what I felt for a long time. "I use it as fuel. It's like the gasoline in my tank that's going to just soar me to the…You know, the sky's the limit. So, yeah, I think the pressure is a good thing." It comes as Walsh is set to return to the Smart Cage on Friday evening as he takes on Ronnie Gibbs at the Wintrust Arena in Chicago, Illinois. Speaking about his opponent, Walsh said: "He's from Chicago. I think he had a pretty good amateur career. He was, I think, 7-1. "He's 1-0 as a pro now. Seems like a striker, but can grapple too. Just seems like a good matchup for this fight. Yeah, I'm excited. I'm just super excited to be able to display all the stuff that I've improved on and all the things I've worked on since my last fight. And that's just what I'm most excited about, is being able to show the people that." Biaggio Ali Walsh will be competing at PFL World Tournament on June 27 and is available to watch in the UK exclusively on DAZN.
Irish Daily Mirror
3 days ago
- Entertainment
- Irish Daily Mirror
Joe Brolly takes aim at current GAA pundits and All-Ireland TV coverage
Joe Brolly launched an attack on current GAA pundits as he took aim at RTE and GAA+ over their coverage of this year's All-Ireland Senior Football Championship. The All-Ireland winner spoke on the homogenous nature of GAA punditry at present after his departure from RTÉ's suite of pundits in 2019. "One of the features of the modern GAA pundit is that they all dress like boyband members now," he said on the latest episode of his Free State Podcast. "Before the Kerry game, Paddy Andrews, the famous Dublin footballer, Cillian O'Connor from Mayo, and Marc Ó Sé, Kerry, they looked like a Take That tribute band. "They don't make pundits like they used to, everyone agreeing with everybody else and talking about statistics." The conversation then moved on to RTÉ's soccer coverage and pundits, and when asked on their credentials by Free State co-host Dion Fanning, Brolly replied: "Those boys they have now are catatonically boring... personality is outlawed now." He lamented what he deemed to be an obsession with timings degrading the entertainment value of the show, wondering "Can you imagine Muhammad Ali now coming into RTÉ? "A runner would come in and say 'Muhammad Ali's outside here', 'lock the door, Jesus, we're on a schedule here, we have to ask Cora Staunton about this clip of Mayo scoring a free in the second half, and whether or not the free should have been given, there's a very important issue here, whether X could have got a black card.' "This sugary, cold banality, there's no resemblance to the GAA people." Brolly left RTÉ after the 2019 All-Ireland football final after 20 years in the Sunday Game studio. He was cut off on air during a 2021 episode of the Claire Byrne Show where Irish unification was being discussed. He claimed that RTÉ had "censored" him during the broadcast, saying: "I was taken off air on RTE for very mild comments that I made during a discussion about the potential for Irish unity. "I was talking about the importance of honestly assessing the past, honestly assessing for example on that occasion Gregory Campbell of the DUP and that essential honesty that was key to the peace process. "I was actually taken off air and to the best of our knowledge, we checked this, my legal team checked all of this, no one had ever been taken off air."
