3 days ago
Michael Stroband on 140 Years of Mercedes-Benz and Its Future in the Middle East
Few industries are being rewritten as fast as the automotive business. Electrification, software, and new ideas about luxury are changing what people expect from a vehicle, and from the brand behind it. For the leaders steering these companies, heritage helps. It isn’t a strategy on its own. Mercedes-Benz knows this better than most. The company that invented the automobile marks 140 years this year, and it’s doing so in the middle of the largest product launch programme in its history. Michael Stroband, President & CEO, Mercedes-Benz Cars Middle East; Global Head of Mercedes-Benz General Distributors, is the one tasked with turning that momentum into results across the region. In this edition of Business Leaders in the Middle East, Stroband talks about what the anniversary means to him and why he restructured regional leadership to work more closely with a General Distributor network covering over 100 markets, all from Dubai. He explains the brand’s approach to electric mobility, how ready Gulf customers really are, and why luxury today is as much about experiences as ownership. He also looks at Saudi Arabia, where partner JACO has represented the brand since 1959. His view is clear enough: legacy only counts if you keep […]
5 days ago
Shaj Babu on Wealth, Family Legacy and 50 Years of Julius Baer in Bahrain
Wealth management in the Gulf is changing fast. Families are setting up formal governance, capital is moving out of oil and into tech and renewables, and clients want more than a well-built portfolio. Leading a private bank through that takes market knowledge, of course. It also takes trust, and the patience to build it across generations. That’s the ground Shaj Babu, CEO of Julius Baer Bahrain, covers in this edition of Business Leaders in the Middle East. The bank has now marked 50 years in the Kingdom. It began with the acquisition of Merrill Lynch’s international wealth management practice and an office on Government Road. Today, the team works from the Bahrain World Trade Centre, backed by a 135-year Swiss legacy and a core team that’s largely Bahraini. In our conversation, Babu explains how the bank adapted its advice when regional tensions escalated earlier this year, and why more families are asking for constitutions and succession plans. He also covers Bahrain’s role as a gateway to Saudi Arabia, how clients are approached on alternatives and digital assets, and why the human relationship still matters as the industry goes digital. What comes through is a leadership style built on staying close […]
6 days ago
Riyadh Makes Accreditation Mandatory For Infrastructure Projects From January 1, 2027
The Riyadh Infrastructure Projects Center (RIPC) announced the imminent implementation of mandatory accreditation for infrastructure project contractors. With only 90 days remaining until the accreditation takes effect on January 1, 2027, only companies accredited by the RIPC will be permitted to undertake infrastructure projects in the Riyadh region. This move is part of the Center’s efforts to develop the infrastructure project implementation system, enhance sector efficiency, and strengthen compliance with quality, safety, and environmental standards. It is expected to contribute to improving execution quality, reducing operational risks, and enhancing the sustainability of assets and services provided to the region’s residents. The RIPC stated that the accreditation aims to enhance the reliability of infrastructure project implementation by applying unified standards to assess the capabilities of implementing companies. This ensures that their technical and operational capabilities are commensurate with the nature and scale of projects and that they meet the minimum requirements for efficiency, technical expertise, and financial solvency necessary to execute the work in accordance with approved standards. The RIPC indicated that the accreditation assessment is based on three main pillars: technical and operational capabilities 55 percent, financial stability 25 percent, and professional experience 20 percent. This framework ensures an objective […]
6 days ago
US Warns Europe: Release Emergency Diesel Supplies Or Face Export Ban
The refined products crisis remains unresolved as the Northern Hemisphere winter approaches. Speaking in the Oval Office on Wednesday, President Trump said he holds discussions “every day” about a potential diesel export ban, blaming Russia’s war in Ukraine for fueling the supply squeeze. His administration is now pressuring European governments to release emergency diesel inventories to contain further price surges and reduce the risk of an economic shock in the coming months. Reuters reports that the Trump administration has asked Germany and France to release emergency diesel inventories to help create a buffer against the supply squeeze in the industrial fuel or face a potential US diesel export ban. The total request calls for the release of 120 million barrels of diesel over the next six months, according to a source in a European capital cited by the outlet. That would be equivalent to about 660,000 barrels a day of additional supply. “It is in Europe’s best interest to work with the United States as we pursue multiple pathways to boost the supply of refined products and lower costs for consumers,” one source, a US official, told Reuters. Trump warned yesterday in the Oval Office that an export ban would […]
7 days ago
Oil Dips As Europe Folds – G7 Agrees To 100-Million-Barrel Emergency Release
French President Macron has just confirmed what we reported earlier, that the G7 has agreed to release as much as 100 million barrels of emergency oil and diesel stocks after pressure from the Trump administration to quell rising fuel prices. The release, being coordinated by the International Energy Agency, will take place over the next four months, Emmanuel Macron, France’s president told journalists in a briefing on Friday. He is also the current chair of the G7 nations. The G7 would like to trigger a drop in fuel prices, he said. Trump was quick to respond too, with no real gloating yet… Oil prices fell back towards the low of the day on the news… Both US and EU diesel prices are also lower… With little oil of its own, and an outsized appetite for diesel, Europe again found itself bargaining from a position of relative weakness… and bending the knee. As we detailed earlier, Bloomberg’s reported that France proposed that other European countries and International Energy Agency members release 100 million barrels of diesel and crude oil from emergency stockpiles would signal that Brussels is caving to President Trump’s demand. Europe’s dependence on US fuel supplies gives the Trump administration […]
1 week ago
The Industrialisation Of Fraud: How Global Scam Farms Are Evolving To Target Your Wealth
Authored by Adam H. Douglas via The Epoch Times (emphasis ours), Financial fraud has morphed into a massive, highly organized global industry powered by transnational scam farms. These industrial-scale operations are largely concentrated in Southeast Asia but are rapidly expanding their reach to target your wealth. These syndicates are becoming much more sophisticated. They deploy advanced psychological tactics and emerging technologies to drain your life savings. But how does this brutal business model work? And what are some actionable consumer defense strategies you can employ to protect your finances? Scam farms are organized fraud syndicates, and one of the most popular techniques they use is a devastating, long-term confidence trick coined a pig-butchering scam. Scammers spend months building deep personal trust with you, metaphorically “fattening” you up with fake initial investment profits before stealing your entire principal. These operations are rarely run by lone hackers – they are orchestrated by massive, industrial-scale scam farms often located in Cambodia and Myanmar, but slowly spreading to many other countries. Global scam farms operate like illicit corporations with specialized teams for different stages of the fraud. Alarmingly, many front-line workers in these compounds are victims of human trafficking, forced into labor under the […]
1 week ago
Tether Says It Helped Freeze $550M In Iran-Linked USDT This Year
Stablecoin issuer Tether said it helped authorities freeze nearly $550 million in Iran-linked USDT during 2026, as a Senate Democrat called for an investigation into the stablecoin issuer on Monday. In a statement on Monday, the company said it has been working closely with international law enforcement for years. This year alone, it froze more than $130 million in USDT across four wallets, and in April, it froze more than $344 million linked to the Central Bank of Iran. “Tether has consistently demonstrated that USDT is not a haven for sanctioned actors, terrorist organizations or criminal networks,” said Tether CEO Paolo Ardoino. The statement from Tether came as Democratic investigators on the Senate Permanent Subcommittee on Investigations released a report alleging USDT had become a key channel for Iran to evade sanctions. Investigators found that 84% of 846 crypto wallets sanctioned over ties to Iran had transacted exclusively or nearly exclusively in USDT. The findings prompted US Senator Richard Blumenthal to call on the Treasury and Justice departments to investigate potential sanctions violations. Tether said its cooperation with authorities globally had resulted in more than $4.9 billion in assets being frozen, including more than $2.4 billion connected to US authorities. […]
1 week ago
Oil Slides As Qatar Touts ‘Talks’ Again; Iran Struck Large Crude Tanker Overnight
Iran is said to have struck a Very Large Crude Carrier in the Strait of Hormuz late on Monday, signaling what will likely be the resumption of strikes on foreign vessels seeking to navigate the Strait of Hormuz, after last week’s diplomatic talks at the UN failed to produce a breakthrough. Still, for the time being more oil is being shipped through the strait compared to where the situation was for the past many months of war. Maritime monitor UKMTO indicated the vessel was struck by a suspected unknown projectile, resulting in a fire. The fire looks to have been extinguished quickly, with the crew safe and the vessel underway on its transit. On Tuesday Iran’s parliament speaker Bagher Ghalibaf has reiterated that America should know that “in a region where we don’t sell oil, no one will sell oil.“ He followed with, “If our security is not ensured, no infrastructure will be safe.” Later in the day, Fars reported that another drone has been fired an ‘illicit’ ship, however few details have been given. Ghalibaf further described during a parliament session that “the era of intimidation and threats is over” and that the Islamic Republic would escalate its responses. […]
1 week ago
The Hidden Mechanism Behind Washington’s Control Of Iraq’s Oil Money
For more than two decades, Iraq’s oil wealth has passed through a financial system centered thousands of miles away in New York. The arrangement, created after the US-led invasion of Iraq in 2003, was initially designed to protect Iraqi oil revenues from creditors and help fund reconstruction. Today, it gives Washington significant leverage over Iraq’s access to its own dollars, leverage that the US is increasingly using as it pressures Baghdad to curb Iran’s influence and the activities of armed groups aligned with Tehran. The issue came into sharp focus in April, when Washington blocked a shipment of about $500m in cash to Iraq as it pressured the government over Iran-aligned armed groups. Muayen al-Kadhimi, a former parliamentary Finance Committee member, condemned the decision at the time, calling on the government to end what he described as US dominance over Iraqi funds. “The US decision to freeze or delay sending Iraq’s foreign currency entitlements represents a serious violation of the financial and political sovereignty of the Iraqi state,” al-Kadhimi said. The shipment was later restored, but the episode demonstrated how Iraq’s dependence on the US financial system can be used as a political tool. The arrangement began after the US-led […]
1 week ago
Hormuz Oil Flows Rebound To Two-Thirds Prewar Level As Iran’s Grip Erodes, Attacks 19 Ships
Rory Johnston, a Toronto-based oil analyst and the founder of Commodity Context, an independent oil market research firm, wrote on X this weekend that oil shipments through the Strait of Hormuz have recovered to roughly two-thirds of prewar levels, driven by a surge in Saudi exports. This suggests that Tehran’s leverage over the critical maritime chokepoint has eroded. “Hormuz oil flows can’t possibly be above 13 MMbpd bc crude is over $100,” Johnston wrote in the post on Saturday, citing Kpler data. He added, “Brother, if you had told an oil analyst in January that Hormuz flows were still down 7 MMbpd after >200 days of war, with the East-West pipeline hobbled, and oil was ONLY $100 they’d have looked at you like.” Saudi Arabia is driving the recovery. The kingdom’s crude exports averaged 5.28 million barrels a day during September’s first 23 days, the strongest pace since the conflict began, according to Bloomberg ship-tracking data. About 3.4 million barrels a day were loaded at Gulf ports, reversing the near-total retreat from those terminals earlier in the war. Courtesy of Commodity Context … “Hormuz is no longer behaving like a chokepoint under effective Iranian control. Hormuz oil flows are now […]
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