Elon Musk buys $2.9 billion stake in Twitter to become biggest shareholder

Musk, a prolific user of Twitter, has been critical of the platform and its policies lately. (AFP)
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Updated 05 April 2022
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Elon Musk buys $2.9 billion stake in Twitter to become biggest shareholder

  • A regulatory filing with the Securities and Exchange Commission on April 4 revealed that Musk bought 73,486,938 shares, giving him a 9.2 percent stake, on March 14

LONDON: Elon Musk, the billionaire Tesla co-founder, has purchased a $2.9 billion stake in Twitter, it emerged on Monday. His 9.2 percent stake makes him the social media platform’s largest shareholder

Shares in Twitter rose by as much as 26 percent in pre-market trading on the news, adding more than $8 billion to its $31.5 billion market valuation prior to Musk’s purchase being made public. As a result of the increase, Musk’s shares are now worth about $3.6 billion.

According to a regulatory filing with the Securities and Exchange Commission on Monday, Musk bought 73,486,938 shares in Twitter on March 14.

Musk, a prolific user of Twitter, has been critical of the platform and its policies lately, questioning whether the company is undermining democracy by failing to support and encourage the principles of free speech.

 

 

In late March, he polled his more than 80 million followers on the subject, asking: “Free speech is essential to a functioning democracy. Do you believe Twitter rigorously adheres to this principle?”

He then posed the question: “Is a new platform needed?”


‘Path to peace is clear but accord is still distant, media must fix its narrative,’ Yemeni PM tells Arab Media Forum

Updated 42 sec ago
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‘Path to peace is clear but accord is still distant, media must fix its narrative,’ Yemeni PM tells Arab Media Forum

  • Ahmad Awad bin Mubarak says that years of war have had catastrophic effect on ordinary citizens
  • Media should spread awareness and start dialogue about Yemen’s situation, PM urges

DUBAI: Yemeni Prime Minister Ahmad Awad bin Mubarak has said that while the peace process with the Houthis is “clear,” a formal accord remains out of reach, as he emphasized the crucial role the media must play in shaping the narrative.

Speaking on the sidelines of the three-day Arab Media Forum in Dubai, the prime minister addressed the ongoing challenges faced by his country and the importance of accurate media representation about unfolding events.

In an interview with Syrian news anchor Zeina Yazigi, Mubarak highlighted the daily hardships faced by both himself and ordinary Yemeni citizens due to the ongoing conflict.

“What we are going through is the accumulation of the years of war Yemen has gone through,” Mubarak said.

“We continue to face a dire humanitarian disaster brought upon by the lack of security, by natural disasters, and by the tense situation in the Red Sea. The standard of living remains lacking. If we build a school today, a rocket might destroy it the following morning.”

The prime minister said the main priority for the country was to find a lasting solution and to provide essential services to uplift citizens’ standard of living.

He said: “Our oil refineries stopped operating in October 2022 and that has stripped the government of over 70 percent of its resources. You therefore have a hard time to even provide electricity to citizens.

“The road map to peace is clear. Many negotiations and initiatives have been brought forth by our brothers in Saudi Arabia and Oman. Long negotiations have also taken place in Stockholm and Kuwait but in order for a full ceasefire to happen, you need two willing partners and the Houthis are not yet willing.”

Yemen has been engaged in a bloody civil war between the internationally recognized government and the Iran-backed Houthi group since 2014.

Mubarak, who was kidnapped by the Houthis in 2015 and has publicly shared his experience of fearing for his life, described the war as “ideological,” but expressed hope for peace and stability.

He said: “Yemen is at an important strategic geographical location, with 34 million citizens and very rich natural resources.

“To neglect it is to neglect (a good chunk) of the world’s resources. We are at war, an ideological battle with the Houthis. What morals does a party have when it bombs schoolchildren? When it strips its country of its resources?”

Mubarak stressed the media’s vital role in remedying false narratives.

He added: “The Houthis’ actions in the Red Sea predate the events of Oct. 7. The two are not directly related and it is important that the media is able to distinguish this fact, to spread awareness and start a dialogue.

“It was also previously thought that the Houthis had nothing to do with Iran, and that was simply untrue, proven in time by correct media coverage and analysis. Having the full picture is important.”

In a meeting with Sheikh Ahmed bin Mohammed bin Rashid Al-Maktoum, second deputy ruler of Dubai and chairman of the Dubai Media Council, Mubarak discussed the need for a “unified Arab voice.”

Both sides stressed the important and influential role of the media in supporting stability and enhancing opportunities for peace, promising to work together to develop a framework for preparing a new generation of media professionals.

Mubarak said: “I am proud of my country; it is the cradle of civilization. Despite the hardships, it deserves our sacrifices for a better future.

“We have a strong backbone behind us, the Emiratis, the Saudis and the rest of our brothers. We have a just cause and are keen to maintain our Arab identity and hope for a better future.”


‘Do not expect change in US foreign policy even with new administration,’ experts tell Arab Media Forum

Updated 28 May 2024
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‘Do not expect change in US foreign policy even with new administration,’ experts tell Arab Media Forum

  • American regional policy was discussed along with Gaza conflict

DUBAI: American foreign policy remains consistent regardless of the sitting president, and no major strategic shifts should be expected with a new administration, political experts told attendees at the Arab Media Forum in Dubai on Tuesday.

While American elections every four years bring new faces to the forefront, this cycle features familiar candidates, with current Democratic President Joe Biden running for re-election against former Republican President Donald J. Trump.

Dr. Mohammed Al-Rumaihi, a political science professor at Kuwait University, emphasized that America’s actions are driven by its own interests, regardless of the president’s party affiliation.

“We are talking about America, a dominant power with a system that has not changed much throughout its history. We can disagree with it, but we should not make enemies out of it,” Al-Rumaihi said.

“We foster great economic relations with China and Russia, but our weaponry and defense in the region are American-made.”

Al-Rumaihi echoed Saudi diplomat Prince Bandar bin Sultan’s sentiment that “America’s enemies must fear America, but America’s friends must fear it more,” highlighting the Arab world’s political animosity toward US foreign policy due to perceived double standards.

Dr. Raghida Dergham, columnist and executive chairperson of the Beirut Institute, suggested that Biden’s handling of the Gaza situation could have electoral repercussions.

“Biden’s approach on Gaza will no doubt affect his votes. His double standards are glaring. Both running presidents are aware of this as we see them trying to rally the state of Michigan, which has a large Arab base that can affect the votes. And while Washington has a massive impact on the region, we are now seeing (its) different approach as to how the Gulf reacts to it,” she said.

Dergham underscored Saudi Arabia’s firm stance on Gaza and the future creation of a Palestinian state.

She urged other Gulf countries to follow Crown Prince Mohammed bin Salman’s “bold and brave attitude” to pressure US and Israeli diplomatic and security strategies.

“I believe (the) relationship between America and the Gulf will remain stable, however we wish for a president that doesn’t view Arabs solely through the Iranian and Israeli prism.”

Dergham, citing Egyptian journalist Abdel Latif El Menawy, attributed the region’s current tensions to American policies since former President Barack Obama, which left a power vacuum.

“I would still like to say we are not the enemies of the American people; we are in disagreement of their foreign policy however,” she continued.

“We have been brought up with the notion that America’s stance remains unwavering, but that changed when Trump came into power with his character and policies. With what is currently taking place in Gaza, I don’t think Washington can continue to depend on the states it did before.”

The war in Gaza is a major focus of the three-day event in Dubai.

On Tuesday, a panel titled “Palestine through the lens of Arab media” explored the role of media in covering the Palestinian cause amid the ongoing conflict in Gaza.

The humanitarian situation in Gaza is also expected to be a central topic in other sessions, including those featuring Ahmed Awad bin Mubarak, prime minister of Yemen; Jasem Albudaiwi, secretary-general of the Gulf Cooperation Council; and Egyptian comedian and media personality Bassem Youssef, who has been a vocal critic on the international stage since conflict broke out Oct. 7.


Vanity Fair France apologizes for removing Palestinian pin from image of Guy Pearce at Cannes

Updated 27 May 2024
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Vanity Fair France apologizes for removing Palestinian pin from image of Guy Pearce at Cannes

  • Magazine faced backlash on social media for appeared attempt to censor pro-Palestinian solidarity

LONDON: Vanity Fair France was forced to issue an apology for digitally removing a Palestinian pin worn by actor Guy Pearce at the Cannes Film Festival.

On May 21, Vanity Fair published an article featuring several photographs of celebrities attending the festival. Among these was a portrait of Pearce wearing a black Yves Saint Laurent tuxedo.

Social media users quickly noticed that a pin of the Palestinian flag seen on his left lapel in other images had been removed.

Journalist Ahmed Hathout was one of the first to highlight the alteration, tweeting: “So Guy Pearce showed solidarity with Palestine at Cannes by wearing a pin and Vanity Fair decided to photoshop it out. Little did they know the bracelet was also of the Palestinian flag colors.”

The French subsidiary of the American magazine faced significant backlash on social media for what appeared to be an attempt to censor pro-Palestinian solidarity.

One user, @DarkSkyLady, tweeted: “Can we finally admit many of these outlets are propaganda-mouthpieces for colonialism and white supremacy?”

Another user, @Joey_Oey89, commented: “Reminder to unfollow and mute Vanity Fair. They smear celebs who take a stand against genocide and have made their stance clear.”

Responding to the criticism, Vanity Fair France posted an apology under Hathout’s tweet: “Good evening. We mistakenly published a modified version of this photo on the website. The original version was published on Instagram on the same day. We have rectified our error and apologize.”

The article on the magazine’s website now displays the unaltered image.

Pearce was among many celebrities at the prestigious festival who expressed solidarity with Palestine amid Israel’s brutal assault and seige on Gaza.

Other notable figures included actors Cate Blanchett and Pascale Kann, supermodel Bella Hadid, Indian actress Kani Kusrut, French actress Leila Bekhti, and Moroccan filmmaker Asmae El-Moudir.
 


Online anger following The Atlantic’s ‘possible to kill children legally’ in Gaza article

Updated 27 May 2024
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Online anger following The Atlantic’s ‘possible to kill children legally’ in Gaza article

  • The Atlantic’s writer Graeme Wood suggested that in certain scenarios killing of children can be legally justifiable
  • Campaign group condemned the piece, calling the The Atlantic’s stance on the issue ‘egregious’

LONDON: The Atlantic has ignited a wave of online criticism after publishing an article arguing that “it is possible to kill children legally” in Gaza.

Titled “The UN’s Gaza Statistics Make No Sense,” the opinion piece by staff writer Graeme Wood questioned the accuracy of the UN’s civilian death toll numbers from the Israeli war on Gaza.

Wood suggested that the UN’s statistics were unreliable, claiming they are sourced from Hamas.

“The UN numbers changed because the UN has little idea how many children have been killed in Gaza, beyond ‘a lot.’ It gets its statistics from Hamas,” the piece read.

Wood, known for his skeptical stance toward Hamas and Palestine since the conflict erupted last October, controversially suggested that in certain scenarios, the killing of children can be legally justifiable.

Despite acknowledging that “even when conducted legally, war is ugly,” Wood argued, “It is possible to kill children legally, if for example one is being attacked by an enemy who hides behind them. But the sight of a legally killed child is no less disturbing than the sight of a murdered one,” he wrote.

The article sparked a significant online backlash, with the campaign group Writers Against the War on Gaza (WAWOG) condemning The Atlantic for the article.

“Eight months into the genocide and western media is still manufacturing consent for Zionism,” the group wrote in a post on X on Sunday.

“Defending child murder is egregious; but @TheAtlantic has historically defended imperial bloodshed,” WAWOG added.

Users took to social media to express their frustration over the article, with some questioning the legality of Wood’s claim and calling his choice of words “disgusting.”

“‘A legally killed child’ is a phrase I never imagined I would read in my lifetime,” wrote Lebanese political activist and musician Peter Daou on X.

Others have also called for canceling their subscriptions to The Atlantic.

The backlash comes as Israeli airstrikes killed at least 45 people on Sunday, hitting tents for displaced people in the southern Gaza city of Rafah, with reports that people were “burning alive.”

These attacks came two days after the International Court of Justice ordered Israel to end its military offensive in Rafah, described by the UNRWA as “horrifying.”

According to Gaza’s health ministry, the death toll in Gaza has neared 36,000 people, with the vast majority being children and women.


Bahrain’s youth rep taps into Kennedy with speech to Arab youth at Dubai media forum

Updated 27 May 2024
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Bahrain’s youth rep taps into Kennedy with speech to Arab youth at Dubai media forum

  • Youth ‘can craft a better future for us all,’ says Sheikh Nasser Bin Hamad Al-Khalifa
  • Praises Gulf leaders ‘who are focused on the next generation rather than the next election’

DUBAI: Sheikh Nasser Bin Hamad Al-Khalifa, Bahrain’s representative for humanitarian work and youth affairs, delivered a sharply defined message to Arab youth and their custodians.

In a speech at the Arab Media Summit, Al-Khalifa echoed the words of former US President John F. Kennedy, saying: “For a better world and a prosperous country, one must ask themselves what I can do for my country rather than what can my country do for me.

“The youth, which make up over 60 percent of our citizens today, is very different than previous generations. They have become the driving force behind certain industries and have taken to adopting certain causes that will craft a better future for us all.

“They are engaged in political and civil societies more than ever before throughout history. They have even managed to become successful in sectors such as journalism, social media in forms of content, podcasts and also showing sharp wit in investments and trade.”

Al-Khalifa, who served in a military academy, said he carries the academy’s message of “in order to serve, you must lead” throughout his life and policies.

 “While challenges can occur, as it did during the COVID pandemic, which affected not only economies but personal lives as well, it was a lesson to be learned. We came out of it, and we are at a better place now.

“Challenges are opportunities. Some folk lost a lot during the pandemic, while others progressed, and the difference between the two is that one seized the opportunity to create and further themselves. while others remained still.”

On the subject of open borders and one being a “global citizen,” Al-Khalifa urged the youth and their elders to continue to strive, travel, experience and learn, but to maintain a “moral direction that connects and centers you to who you are: an Arab.”

He added: “We are an Arab ummah, and what does that mean? It is a legacy, it is victories, accomplishments, values that we have carried and learned from our forefathers that we continue to build on today. To take on Western concepts such as ‘global citizen,’ one can be lost. Our identity is Arab first and foremost.

“Our religion, Islam, urged us to read, learn and engage. And that is what we do with other countries as we both compete and cooperate with them.

“Know who you are and where your roots lie. Some societies have become fragmented due to their abandonment of their values. Nowadays, we have Westerners who are enrolling their children in our schools to keep them centered and away from social and moral confusion.

“While it is valid and important to ride the new wave in terms of technology and progress of open borders to make our countries better, I urge fathers and mothers to continue to stress on an upbringing that focuses identity and positive moral values.

“We want to invest in our youth. It is important that they feel seen, valued, trusted and supported and wanted. If we do that, then their stock will never plummet. They are half of our present and all of our future.”

He concluded his speech by saying how blessed the Gulf is to have leaders “who are focused on the next generation rather than the next election,” and offered a prayer to the lives lost in Gaza.