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Rich Gulf states desperately try to stop Iran-Israel war

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Gulf states are pushing to stop a full-blown regional war after Iran’s unprecedented retaliatory strikes on Israel.

Saudi Arabia and the United Arab Emirates in particular may be well placed to triangulate between Iran, Israel and the United States after diplomatic advances in recent years that benefited all those countries.

Allies of Washington, Gulf monarchies have sought to stabilise ties with Iran and Israel to resolve longstanding security concerns and allow them to focus on national projects.

The UAE and Bahrain signed a normalisation deal with Israel in 2020 and Saudi Arabia was considering a similar agreement also involving a U.S. defence pact until the Gaza war torpedoed diplomacy. Riyadh also buried the hatchet with Iran last year after years of feuding.

Bad diplomacy

However, the policy of detente now faces its greatest ever threat as the risk to wider regional peace raised by Israel’s conflict with Iran-backed Hamas in Gaza since Oct. 7 comes to a head.

A direct war between Israel and Iran could swiftly expand to Gulf states whose air space lies between the pair, and which host several military bases of the United States, which has vowed to defend its ally Israel.

Read more -Iran launches retaliatory attack on Israel with hundreds of drones

“Nobody wants an escalation. Everybody wants to contain the situation,” said a Gulf source close to government circles, adding that there was probably wide telephone diplomacy under way.

“The pressure is not on Iran alone. The pressure is now on Israel not to retaliate,” said the source, adding that the fallout of an Israeli attack on key Iranian sites “will affect all the region”.

Another Gulf source with knowledge of official thinking said Gulf states, Iraq and Jordan are pushing both Iran and Israel’s main backer the United States not to escalate. Washington was already pressing Israel to show restraint, both sources said.

Further escalation

At the same time, the United States was using Gulf countries to convey messages to Iran not to escalate any further, the source with knowledge of official thinking added.

“It is clear that America is using Gulf Arab allies to convey messages between Iran and the Americans. Saudi Arabia is maintaining contacts with Iran and there is an understanding to contain things,” the source said.

Reuters has requested comment from both Saudi Arabia and the UAE on how they are handling the crisis.

Still, both the sources as well as analysts in the Gulf believed the most dangerous moment may have passed.

“The Iranians took their shot,” said Abdulaziz al-Sager, head of the Gulf Research Centre close to government circles, indicating that for Tehran, the escalatory phase was over, and adding that Washington did not want an escalation from Israel.

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The EV transformation expands to legacy vehicles

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This week witnessed another milestone in the automotive industry as the legendary Mercedes-Benz G-Wagen embarked on its electric journey, aligning with global sustainability efforts.

Simultaneously, Toyota and Mazda debuted EV offerings tailored for the booming Chinese market, signalling a strategic shift towards collaboration with advanced Chinese partners.

While the electric G-Wagen promises both eco-friendliness and off-road prowess with its innovative design, questions arise about Japanese automakers’ perceived lag in EV development, countered by the strategic imperative to tap into the rapidly growing Chinese EV market. As automotive icons embrace electrification and traditional players adapt through partnerships, it’s clear that collaboration and innovation will drive the future of mobility.

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The degree dilemma, income shifts, debt, and dream homes

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As individuals face the daunting choice between paying off student debt, saving for a first home deposit, or exploring alternative options like rentvesting, careful consideration of various factors becomes imperative.

 

In the midst of these challenges, a couple in the inner north ingeniously employed a strategy to realise their dream of a larger home while managing HECS debt and affordability hurdles.

Rentvesting emerges as a viable solution for individuals grappling with the burdens of high HECS debt and property affordability issues.

Moreover, the decreasing income premium tied to a university degree is closely intertwined with changing economic dynamics and shifts in the job market, underscoring the need for innovative approaches to education and financial planning in today’s society.

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President Biden signs TikTok bill – what’s next?

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TikTok users could soon find that the popular social media service is either under new ownership or could be outright banned in the United States.

President Joe Biden signed a bill into law that requires TikTok to find a new owner—or face a ban in the United States.

Over the past several months, Washington D.C. has been under pressure to ban the popular Chinese-owned social media app.

Lawmakers and security experts have long raised concerns that the Chinese government could tap TikTok’s trove of personal data about millions of U.S. users.

TikTok’s CEO said the bill is disappointing and reiterated that the company has committed to challenge it.

David Zhang from China Insider. joins Veronica Dudo to discuss

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