Egyptian billionaire Naguib Sawiris says Turkey’s Erdogan wants to be ‘new Ottoman emperor’

Egyptian billionaire Naguib Sawiris leveled strongly worded criticism at Turkey’s President Recep Tayyip Erdogan this week, accusing the leader of making a “very big mess” in the Middle East. “We have Mr. Erdogan’s new ambitions to become the new Ottoman emperor of the region,” he told CNBC’s Hadley Gamble on Tuesday, referring to the former … Read more

Lance Armstrong has advice for President Trump: Negotiate a cap on your legal fees

Before the downfall: Lance Armstrong is cheered by spectators during on the Champs Elysees in Paris, 25 July 1999. Patrick Kovarik | AFP | Getty Images Disgraced former professional cyclist Lance Armstrong told CNBC that he has advice for Donald Trump, saying the president should “somehow negotiate, at this point, a cap on his legal … Read more

Lebanon’s prime minister-designate steps down after failing to form cabinet

Lebanese Prime Minister Mustapha Adib, wearing a protective face masks, arrives to meet with the French President at the Presidential palace in Baabda east of the Lebanese capital Beirut on September 1, 2020. GONZALO FUENTES | POOL | AFP via Getty Images Lebanon’s prime minister-designate quit on Saturday after almost a month of efforts to … Read more

UAE minister says ‘the whole region’ benefits from his country’s deal with Israel

SINGAPORE — The Middle East will benefit from the bilateral deal between Israel and the United Arab Emirates, the Emirati minister of economy said this week. “Both nations will bring different mindsets to the table, different advantages, and I think the whole region will benefit from this agreement,” Abdulla bin Touq told CNBC’s Hadley Gamble on Wednesday. His … Read more

Bahrain follows Emirates and normalizes ties with Israel

U.S. President’s senior adviser, Jared Kushner (R) meets Bahrain’s Crown Prince Salman bin Hamad Al Khalifa (L), during his visit to Manama, Bahrain, September 1, 2020. Bahrain News Agency/Handout via REUTERS ATTENTION EDITORS – THIS PICTURE WAS PROVIDED BY A THIRD PARTY. Bahrain News Agency | Handout via Reuters Bahrain joined the United Arab Emirates … Read more

‘You can’t turn a battleship around overnight’: Jared Kushner downplays Saudi silence on Israel-UAE deal

A deal between Israel and the United Arab Emirates to normalize diplomatic ties should be celebrated as a “historic step,” despite the lack of support from Saudi Arabia, according to White House senior advisor and U.S. President Donald Trump’s son-in-law Jared Kushner. Under the accord announced Thursday, which the U.S. helped to broker, Israel agreed to … Read more

Officials long warned of explosive chemicals at Beirut port

At least 10 times over the past six years, authorities from Lebanon’s customs, military, security agencies and judiciary raised alarm that a massive stockpile of explosive chemicals was being kept with almost no safeguard at the port in the heart of Beirut, newly surfaced documents show. Yet in a circle of negligence, nothing was done … Read more

Abu Dhabi stock exchange looks to foreign investors as pandemic hits trading

View of Abu Dhabi’s skyline at sunset from Dhow Harbour in the UAE. Getty Images The Abu Dhabi bourse is making a fresh pitch to international investors, as it seeks to reverse a decline in first-half trading value linked to the coronavirus pandemic.  Abu Dhabi Securities Exchange (ADX) said its total trading value fell to … Read more