What We Are Reading Today: Business Adventures

What We Are Reading Today: Business Adventures
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Updated 21 September 2023
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What We Are Reading Today: Business Adventures

What We Are Reading Today: Business Adventures

Author: John Brooks

This business classic written by longtime New Yorker contributor John Brooks is an insightful and engaging look into corporate and financial life in America, says a review published on goodreads.com. 

Stories about Wall Street are infused with drama and adventure and reveal the machinations and volatile nature of the world of finance. 

Brooks’ insightful reportage is so full of critical detail that whether he is looking at the astounding market crash of 1962 or the bold attempt by American bankers to save the British pound, one gets the sense that history really does repeat itself.


Four go on trial in France over 2018 Christmas market attack

Four go on trial in France over 2018 Christmas market attack
Updated 2 min 20 sec ago
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Four go on trial in France over 2018 Christmas market attack

Four go on trial in France over 2018 Christmas market attack
PARIS: Four men went on trial on Thursday over a 2018 Christmas market attack in France’s eastern city of Strasbourg, with a key suspect insisting he did not know the plans of the radical Islamist who killed five people before being shot dead by police after a 48-hour manhunt.
The traditional Christmas market was in full swing on December 11 when Cherif Chekatt — a convicted criminal featured on a list of possible extremist security risks — opened fire on revellers, shouting “Allahu Akbar” (“God is Greatest” in Arabic).
The four men on trial in Paris are accused of crimes ranging from “terrorism” to helping supply weapons, including the 19th-century revolver Chekatt used in the attack.
The trial opened at the Paris court with the suspects confirming their names.
One of them, Audrey Mondjehi, faces the maximum penalty of life in prison if convicted of “terrorism.” The others risk 10 years imprisonment.
The trial, due to last until early April, is the latest legal process over the militant attacks that have hit France since 2015, with most of those in the dock accused of complicity since the actual perpetrators were generally killed while carrying out their attacks.
In December 2022, a Paris court convicted all eight suspects in the trial over a 2016 truck attack in the Mediterranean city of Nice, which left 86 dead, including the driver.
In the highest-profile case, 20 defendants were convicted in June 2022 over their roles in the November 2015 attack in the French capital, when 130 people were killed.
The Daesh group claimed the Strasbourg attack, but the then-French interior minister Christophe Castaner said it was taking credit for an attack it hadn’t planned.
A video pledging allegiance to the group was however found at the assailant’s home.
Of the accused only Mondjehi, 42, was charged with “terrorism,” while the three others — all in their 30s — face criminal conspiracy charges for their role in supplying weapons.
A fifth defendant, in his mid-80s, may be tried at a later date after a medical examination found his health was not compatible with taking part in the current long trial.
Mondjehi, a former cellmate of the assailant, played “a key role in supplying a weapon” by putting him in touch with sellers, and “could not have been unaware of, or may have even shared, all or part of Cherif Chekatt’s radical convictions,” according to the indictment.
Mondjehi told the court this was not true.
“Never could I have known that this weapon could have been for an attack,” he said.
His lawyer Michael Wacquez said he was concerned Mondjehi could be used as a scapegoat.
“Mondjehi should not be an outlet for the grief of the victims and should not be condemned because Cherif Chekatt is not there,” he said.
According to the investigation, there was no evidence of the other suspects having been aware of Chekatt’s plans.
Although Chekatt cannot now be brought to justice, survivors and relatives of victims said the trial was still crucial.
The attack “turned my whole life upside down,” said Mostafa Salhane, a 53-year-old former taxi driver who spent 15 terrifying minutes with Chekatt who climbed into his cab with a gun in his hand as he fled the scene.
A lawyer representing some of the families, Arnaud Friederich, said the trial was a “key moment” for his clients.
“There will be a before and an after,” he said.
Claude Lienhard, a lawyer for several dozen people, said there was a perception the investigation has been dragging on.
“There’s a fear that this will be a low-cost trial compared with other terror trials, as many feel they have been forgotten,” he said.
Audrey Wagner, who saw Chekatt wound one of her friends, said she expected proceedings to be “distressing” but important to “turn the page.”
Jean-Yves Bruckman, a now-retired firefighter who aided one of the victims said he needed answers “to heal.”
“One question keeps coming back to me: How can you kill someone like that?“

Prince Mohammed bin Salman College, Saudi Press Agency sign training agreement

Prince Mohammed bin Salman College, Saudi Press Agency sign training agreement
Updated 8 min 29 sec ago
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Prince Mohammed bin Salman College, Saudi Press Agency sign training agreement

Prince Mohammed bin Salman College, Saudi Press Agency sign training agreement
  • MBSC will train journalists in ‘interpersonal effectiveness skills,’ such as negotiation and presentation

RIYADH: The Prince Mohammed bin Salman College for Management and Entrepreneurship announced on Thursday a new partnership with the Saudi Press Agency to provide specialized training and development programs for the Kingdom’s news industry.

The partnership was co-signed by Zieger DeGreef, dean of MBSC, and Fahad bin Hassan Al-Aqran, president of SPA, during the “Human Capabilities Initiative” conference held in Riyadh on Feb. 28-29.

“We are proud to partner with the Saudi Press Agency,” DeGreef said. “We are proud to partner with a number of very prominent ministries and organizations in the Kingdom to develop business acumen in Saudi Arabia.”

He told Arab News that the partnership will train journalists in a variety of “interpersonal effectiveness skills,” such as teamwork, negotiation, presentation, influencing, decision-making, and communication — all of which “are very relevant for journalists (and) for professionals in the media.”

DeGreef added that although “there is already good education in the Kingdom,” it has “a long way to go in excellence in business education.”

He added: “The college tries to fill that void.”  

In addition to joining media-focused training programs under the agreement, Saudi journalists will also be able to obtain graduate degrees in business administration and finance.

“We will welcome journalists in those degree programs in business, but we are also developing an exciting portfolio of executive education programs again for the media,” DeGreef said. “So, most of our partnerships are already in those two areas, but the third area is research.”

He highlighted that MBSC’s faculty “will work with journalists from SPA on particular research projects, mostly linked to data, data analysis, data presentations, (and) data communication.”

SPA announced on Thursday the launch of its first news training academy in partnership with several organizations, including the Technical and Vocational Training Corporation, the Prince Mohammad Bin Salman College of Business and Entrepreneurship, the Institute of Public Administration, the Human Resources Development Fund, Sky News Arabia Academy, and the Austrian International Center for Qualification and Quality.


El-Sisi, Al-Burhan discuss developments in Sudan

El-Sisi, Al-Burhan discuss developments in Sudan
Updated 3 min 11 sec ago
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El-Sisi, Al-Burhan discuss developments in Sudan

El-Sisi, Al-Burhan discuss developments in Sudan
  • Al-Burhan said that Egypt’s role in hosting Sudanese citizens and mitigating the crisis provided evidence of its continued friendship
  • El-Sisi and Al-Burhan agreed on the necessity of an immediate ceasefire in Gaza

CAIRO: Egypt’s President Abdel Fattah El-Sisi on Thursday received Gen. Abdel Fattah Al-Burhan, president of the Transitional Sovereignty Council of Sudan, at Cairo International Airport.

An official reception ceremony took place at Al-Ittihadiya Palace, at which the national anthems were played and guards of honor inspected.

The meeting focused on recent developments in Sudan and efforts to resolve its crisis.

The main goal is to restore stability while ensuring sovereignty, unity, and cohesion of the Sudanese state and its institutions.

The meeting was an attempt to meet the Sudanese people’s desire for safety and stability.

Ahmed Fahmy, the presidential spokesman, said that El-Sisi focused on the solid historic relations between the two countries, emphasizing Egypt’s support in enhancing cooperation.

The president stressed Egypt’s commitment to Sudan’s security and offered full support to achieve political, security, and economic stability.

He affirmed Egypt’s commitment to supporting Sudan’s unity and resolving ongoing conflicts.

He added that the two countries shared a close relationship, which made it necessary to ensure national security.

The president spoke of Egypt’s ongoing role in helping to alleviate the humanitarian impact of the current crisis within Sudan.

Al-Burhan expressed his country’s appreciation for Egypt’s support. He highlighted the long-standing ties between the two countries, while saying that Egypt’s role in hosting Sudanese citizens and mitigating the crisis provided evidence of its continued friendship.

The parties also discussed the situation in Gaza and regional issues of mutual concern.

El-Sisi and Al-Burhan agreed on the necessity of an immediate ceasefire and the urgent need to ensure the delivery of humanitarian aid to Gaza.

They also agreed to continue consultations and coordination to help benefit the populations of Egypt and Sudan.

The Sudanese leader made an official visit to Egypt in August last year, his first following the start of his country’s conflict in April. Al-Burhan and El-Sisi met in the city of Alamein in northern Egypt.


Italy foreign minister urges ‘immediate ceasefire’ in Gaza

Italy foreign minister urges ‘immediate ceasefire’ in Gaza
Updated 16 min 56 sec ago
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Italy foreign minister urges ‘immediate ceasefire’ in Gaza

Italy foreign minister urges ‘immediate ceasefire’ in Gaza
  • “We strongly urge Israel to protect the people in Gaza and to rigorously ascertain facts and responsibilities,” Tajani said
  • The Israeli military said a “stampede” occurred when thousands of Gazans surrounded a convoy of 30 aid trucks, leading to dozens of deaths and injuries

ROME: Italian Foreign Minister Antonio Tajani called Thursday for an “immediate ceasefire” in Gaza and called on Israel to protect the Palestinian population after troops opened fire at an aid convoy.
“The tragic deaths in Gaza demand an immediate ceasefire to facilitate more humanitarian aid, the release of hostages and the protection of civilians,” he said on X, hours after the incident which the health ministry in the Hamas-run territory said killed 104 people.
“We strongly urge Israel to protect the people in Gaza and to rigorously ascertain facts and responsibilities,” he said.
The Israeli military said a “stampede” occurred when thousands of Gazans surrounded a convoy of 30 aid trucks, leading to dozens of deaths and injuries, including some who were run over by the lorries.
An Israeli source acknowledged troops had opened fire on the crowd, believing it “posed a threat.”
Italian Prime Minister Giorgia Meloni expressed her “deep dismay and concern” over the violence, calling on Israel to “urgently ascertain the dynamics of the incident and relative responsibilities.”
She also called for negotiation efforts to be “immediately intensified to create the conditions for a ceasefire” and the freeing of the hostages.


Six things to watch at LIV Golf Jeddah

Six things to watch at LIV Golf Jeddah
Updated 50 min 9 sec ago
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Six things to watch at LIV Golf Jeddah

Six things to watch at LIV Golf Jeddah
  • With Brooks Koepka eyeing a ‘three-peat,’ John Rahm makes first appearance in Saudi Arabia

JEDDAH: It is not an exaggeration to say that all eyes in the world of golf will be on LIV Golf Jeddah in Saudi Arabia this week.

The Public Investment Fund-backed league has done more than enough in the recent past to become one of the strongest tours in the world, but enticing Anthony Kim to return to professional golf is probably the coolest thing it has done so far.

It remains to be seen what sort of form the 38-year-old American will be in after his 12-year hiatus from the sport. He might take some time to get back into the groove but be prepared for the internet to go nuts if he has a good opening round on Friday.

Kim is the mystery man of golf, an almost mythical figure. His talent and his skills were unreal when he played regularly on the PGA Tour, winning three titles before he turned 25, but then he said goodbye to the game at the age of just 26.

Some have described his return to professional golf as being like “the resurfacing of the Loch Ness Monster,” others as a sighting of the golfing world’s “Yeti.”

Kim’s return to competition will certainly be one of the biggest storylines to follow during LIV Golf Jeddah this weekend, but here are six others that could ramp up the excitement at Royal Greens Golf and Country Club.

Jon Rahm’s first time in Saudi Arabia

World No. 3 Jon Rahm is the biggest signing in LIV Golf history and the mercurial Spaniard, a two-time major champion, including victory at last year’s Masters, is set to make his first appearance in Saudi Arabia this week.

Given the wind and length of the course at Royal Greens, and the peculiarities associated with a desert course, the venue should play right into Rahm’s hands. A phenomenal striker of the ball, he has spent the past decade based in Arizona and so is used to such conditions. He is also a two-time DP World Tour Championship winner in the neighboring UAE, on a similar style of course.

Koepka’s ‘three-peat’ attempt

Brooks Koepka, a five-time major champion, faced tough challenges to the last putt in Jeddah in 2022 and 2023, but emerged victorious from playoffs both times. He beat teammate Peter Uihlein in the inaugural season of LIV Golf, then got better of Talor Gooch last October.

The 33-year-old resident of West Palm Beach, who was the only LIV Golf player on last year’s Ryder Cup team, will be going for an unprecedented “three-peat” this week. Should he succeed, which is very much within the realms of possibility, it will set a hard-to-beat record in the relatively short history of LIV Golf so far.

The Crushers aim to bounce back

The 2023 Team Championship winners, the Bryson DeChambeau-led Crushers GC, have a point to prove in Saudi Arabia. They were cruising toward a team victory last year at Royal Greens, and DeChambeau looked like a lock for his third individual title of the season, when the unthinkable happened. The Crushers juggernaut came to a grinding halt during Sunday’s final round, they dropped to fourth place and DeChambeau slipped up to finish tied for 16th.

They will be keen to prove that the final round last year was nothing more than an aberration.

Niemann’s time to shine

Chile’s Joaquin Niemann is the LIV man in the news, having recently received a special invitation to play at this year’s Masters. It is just reward for all the chasing he has been doing lately, including victory in the Australian Open in December, fourth place in the Hero Dubai Desert Classic in January, and third in the International Series Oman last week. He also won LIV Golf Mayakoba this month, the season opener, which unfortunately did not earn him any world ranking points.

Niemann’s world-class talent is unquestionable and he is clearly fired up at the moment, which makes him a dangerous contender this week.

Saudi specialist DJ back in form

Koepka might be the flavor of the moment at Royal Greens thanks to his back-to-back LIV Golf wins there, but the original boss of the course is his close friend Dustin Johnson, two-time winner of the Saudi International there in 2019 and 2021, with a second place sandwiched between the victories. Even at the LIV Golf events in the past two years, his record is a respectable tie for fifth and a solo sixth place.

Now that the former world No. 1 has finally gotten over his short title drought with a win in Las Vegas this month, be prepared to perhaps see some fireworks once again from the big American.

The change of schedule

In 2022, Koepka won the tournament with a 12-under-par total, and finished on 14-under when he successfully defended his title last year.

A major change to the tournament this year, however, is that it is being played in the first week of March, when the conditions will much cooler compared with the October scheduling of previous years. Royal Greens will therefore feel like a different course, with changed wind directions and slightly softer greens. Expect the scores to be lower, therefore, unless the Red Sea has different ideas and starts blowing high winds towards the course.