Muslim worshippers gather after a suicide bomber detonated a device near the security headquarters of the Prophet's Mosque in Medina, Saudi Arabia, July 4, 2016. Reuters.
Muslim worshippers gather after a suicide bomber detonated a device near the security headquarters of the Prophet's Mosque in Medina, Saudi Arabia, July 4, 2016. Reuters.

Saudi Interior Ministry names Qatif, Medina bombers; suspects arrested



DOHA // Saudi authorities have identified the suicide bomber who attacked Prophet Mohammed’s Mosque in Medina on Monday as a 26-year-old citizen with a history of drug abuse.

Twelve Pakistanis and seven Saudis have been detained in relation to string of suicide bombings on the same day, the interior ministry said.

Naer Muslim Hamad crossed a car park next to the Prophet’s mosque and detonated an explosive belt near a security headquarters, killing four soldiers, the state news agency SPA quoted a ministry spokesman as saying.

“When security guards intercepted him he blew himself up,” the spokesman said.

Suicide bombers hit three Saudi cities on Monday in apparently coordinated attacks that targeted Prophet’s mosque in Medina, the US consulate in Jeddah and Shiite worshippers in Qatif, jolting the kingdom as people prepared to break their fast on the penultimate day of the holy month of Ramadan.

An interior ministry spokesman told Al Ikhbariya TV that the Medina bomber had travelled outside the country several times, including this year. He said nitroglycerine from the blasts in Qatif and Medina seemed to match those found at the Jeddah attack, suggesting they may have been coordinated.

The ministry said the Qatif attack was carried out by three “terrorists” including a man named as Abderrahman Saleh Mohammed Al Amr, 23, who it said was known to the security services for taking part in protests.

The Jeddah attacker was a Pakistani man identified as Abdullah Qalzar Khan, a driver who had been living in the city for 12 years, the ministry said earlier.

The United Nations human rights chief described the bombing outside in Medina as “an attack on Islam itself”.

Militant attacks on Medina are unprecedented. The Prophet Mohammed’s mosque, which was built by him in the 7th century and also houses his tomb, is the second most sacred site in Islam.

No group has claimed responsibility for Monday’s attacks but ISIL militants have carried out similar bombings in the Saudi Arabia in the past year, targeting minority Shiites and security forces. The extremist group has said its intention is to topple the kingdom’s Al Saud ruling family.

The attacks highlighted how young Saudi men are being drawn to ISIL, which has launched attacks on Shiites in smaller Gulf Arab states and stepped up violence during the holy month of Ramadan.

King Salman, in a speech on Tuesday marking Eid Al Fitr, said a major challenge facing Saudi Arabia was preserving hope for youth who faced the risk of radicalisation.

He said his country would strike with an “iron hand” against people who preyed on youth vulnerable to religious extremism.

Saudi security officials have said ISIL supporters inside the kingdom mainly act independently of the group in Iraq and Syria, its main areas of operation.

* Reuters with additional reporting from Agence France-Presse

Disclaimer

Director: Alfonso Cuaron 

Stars: Cate Blanchett, Kevin Kline, Lesley Manville 

Rating: 4/5

The%C2%A0specs%20
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COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%3A%3C%2Fstrong%3E%20Eco%20Way%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20December%202023%3Cbr%3E%3Cstrong%3EFounder%3A%3C%2Fstrong%3E%20Ivan%20Kroshnyi%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%2C%20UAE%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Electric%20vehicles%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Bootstrapped%20with%20undisclosed%20funding.%20Looking%20to%20raise%20funds%20from%20outside%3Cbr%3E%3C%2Fp%3E%0A
The most expensive investment mistake you will ever make

When is the best time to start saving in a pension? The answer is simple – at the earliest possible moment. The first pound, euro, dollar or dirham you invest is the most valuable, as it has so much longer to grow in value. If you start in your twenties, it could be invested for 40 years or more, which means you have decades for compound interest to work its magic.

“You get growth upon growth upon growth, followed by more growth. The earlier you start the process, the more it will all roll up,” says Chris Davies, chartered financial planner at The Fry Group in Dubai.

This table shows how much you would have in your pension at age 65, depending on when you start and how much you pay in (it assumes your investments grow 7 per cent a year after charges and you have no other savings).

Age

$250 a month

$500 a month

$1,000 a month

25

$640,829

$1,281,657

$2,563,315

35

$303,219

$606,439

$1,212,877

45

$131,596

$263,191

$526,382

55

$44,351

$88,702

$177,403

 

The specs

Engine: 1.5-litre turbo

Power: 181hp

Torque: 230Nm

Transmission: 6-speed automatic

Starting price: Dh79,000

On sale: Now

Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
Rating: 2/5
 
SERIE A FIXTURES

Saturday Spezia v Lazio (6pm), Juventus v Torino (9pm), Inter Milan v Bologna (7.45pm)

Sunday Verona v Cagliari (3.30pm), Parma v Benevento, AS Roma v Sassuolo, Udinese v Atalanta (all 6pm), Crotone v Napoli (9pm), Sampdoria v AC Milan (11.45pm)

Monday Fiorentina v Genoa (11.45pm)

Dubai World Cup nominations

UAE: Thunder Snow/Saeed bin Suroor (trainer), North America/Satish Seemar, Drafted/Doug Watson, New Trails/Ahmad bin Harmash, Capezzano, Gronkowski, Axelrod, all trained by Salem bin Ghadayer

USA: Seeking The Soul/Dallas Stewart, Imperial Hunt/Luis Carvajal Jr, Audible/Todd Pletcher, Roy H/Peter Miller, Yoshida/William Mott, Promises Fulfilled/Dale Romans, Gunnevera/Antonio Sano, XY Jet/Jorge Navarro, Pavel/Doug O’Neill, Switzerland/Steve Asmussen.

Japan: Matera Sky/Hideyuki Mori, KT Brace/Haruki Sugiyama. Bahrain: Nine Below Zero/Fawzi Nass. Ireland: Tato Key/David Marnane. Hong Kong: Fight Hero/Me Tsui. South Korea: Dolkong/Simon Foster.

The specs: 2018 Mercedes-AMG C63 S Cabriolet

Price, base: Dh429,090

Engine 4.0-litre twin-turbo V8

Transmission Seven-speed automatic

Power 510hp @ 5,500rpm

Torque 700Nm @ 1,750rpm

Fuel economy, combined 9.2L / 100km

'How To Build A Boat'
Jonathan Gornall, Simon & Schuster

How to play the stock market recovery in 2021?

If you are looking to build your long-term wealth in 2021 and beyond, the stock market is still the best place to do it as equities powered on despite the pandemic.

Investing in individual stocks is not for everyone and most private investors should stick to mutual funds and ETFs, but there are some thrilling opportunities for those who understand the risks.

Peter Garnry, head of equity strategy at Saxo Bank, says the 20 best-performing US and European stocks have delivered an average return year-to-date of 148 per cent, measured in local currency terms.

Online marketplace Etsy was the best performer with a return of 330.6 per cent, followed by communications software company Sinch (315.4 per cent), online supermarket HelloFresh (232.8 per cent) and fuel cells specialist NEL (191.7 per cent).

Mr Garnry says digital companies benefited from the lockdown, while green energy firms flew as efforts to combat climate change were ramped up, helped in part by the European Union’s green deal. 

Electric car company Tesla would be on the list if it had been part of the S&P 500 Index, but it only joined on December 21. “Tesla has become one of the most valuable companies in the world this year as demand for electric vehicles has grown dramatically,” Mr Garnry says.

By contrast, the 20 worst-performing European stocks fell 54 per cent on average, with European banks hit by the economic fallout from the pandemic, while cruise liners and airline stocks suffered due to travel restrictions.

As demand for energy fell, the oil and gas industry had a tough year, too.

Mr Garnry says the biggest story this year was the “absolute crunch” in so-called value stocks, companies that trade at low valuations compared to their earnings and growth potential.

He says they are “heavily tilted towards financials, miners, energy, utilities and industrials, which have all been hit hard by the Covid-19 pandemic”. “The last year saw these cheap stocks become cheaper and expensive stocks have become more expensive.” 

This has triggered excited talk about the “great value rotation” but Mr Garnry remains sceptical. “We need to see a breakout of interest rates combined with higher inflation before we join the crowd.”

Always remember that past performance is not a guarantee of future returns. Last year’s winners often turn out to be this year’s losers, and vice-versa.

COMPANY%20PROFILE
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