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After UAE and Bahrain deals, is Saudi Arabia softening its stance on Israel?

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After UAE and Bahrain deals, is Saudi Arabia softening its stance on Israel?

By Marwa Rashad and Aziz El Yaakoubi

RIYADH/DUBAI (Reuters) – When one of Saudi Arabia’s leading clerics called this month for Muslims to avoid “passionate emotions and fiery enthusiasm” towards Jews, it was a marked change in tone for someone who has shed tears preaching about Palestine in the past.

The sermon by Abdulrahman al-Sudais, imam of the Grand Mosque in Mecca, broadcast on Saudi state television on Sept. 5, came three weeks after the United Arab Emirates agreed a historic deal to normalise relations with Israel and days before the Gulf state of Bahrain, a close Saudi ally, followed suit.

Sudais, who in past sermons prayed for Palestinians to have victory over the “invader and aggressor” Jews, spoke about how the Prophet Mohammad was good to his Jewish neighbour and argued the best way to persuade Jews to convert to Islam was to “treat them well”.

While Saudi Arabia is not expected to follow the example of its Gulf allies any time soon, Sudais’ remarks could be a clue to how the kingdom approaches the sensitive subject of warming to Israel – a once inconceivable prospect. Appointed by the king, he is one of the country’s most influential figures, reflecting the views of its conservative religious establishment as well as the Royal Court.

The dramatic agreements with the UAE and Bahrain were a coup for Israel and U.S. President Donald Trump who is portraying himself as a peacemaker ahead of November elections.

But the big diplomatic prize for an Israel deal would be Saudi Arabia, whose king is the Custodian of Islam’s holiest sites, and rules the world’s largest oil exporter.

Marc Owen Jones, an academic from the Institute of Arab and Islamic Studies at the University of Exeter, said the UAE and Bahrain’s normalization has allowed Saudi Arabia to test public opinion, but a formal deal with Israel would be a “large task” for the kingdom.

“Giving the Saudis a ‘nudge’ via an influential imam is obviously one step in trying to test the public reaction and to encourage the notion of normalisation,” Jones added.

In Washington, a State Department official said the United States was encouraged by warming ties between Israel and Gulf Arab countries, viewed this trend as a positive development and “we are engaging to build on it.”

There was no immediate response to a request by Reuters for comment from the Saudi government’s media office.

Sudais’ plea to shun intense feelings is a far cry from his past when he wept dozens of times while praying for Jerusalem’s Al-Aqsa mosque – Islam’s third-holiest site.

The Sept. 5 sermon drew a mixed reaction, with some Saudis defending him as simply communicating the teachings of Islam. Others on Twitter, mostly Saudis abroad and apparently critical of the government, called it “the normalisation sermon”.

Ali al-Suliman, one of several Saudis interviewed at one of Riyadh’s malls by Reuters TV, said in reaction to the Bahrain deal that normalisation with Israel by other Gulf states or in the wider Middle East was hard to get used to, as “Israel is an occupying nation and drove Palestinians out of their homes”.

MUTUAL FEAR OF IRAN

Saudi Crown Prince Mohammed bin Salman, the kingdom’s de-facto ruler often referred to as MbS, has promised to promote interfaith dialogue as part of his domestic reform. The young prince previously stated that Israelis are entitled to live peacefully on their own land on condition of a peace agreement that assures stability for all sides.

Saudi Arabia and Israel’s mutual fear of Iran may be a key driver for the development of ties.

There have been other signs that Saudi Arabia, one of the most influential countries in the Middle East, is preparing its people to eventually warm to Israel.

A period drama, “Umm Haroun” that aired during Ramadan in April on Saudi-controlled MBC television, a time when viewership typically spikes, centred around the trials of a Jewish midwife.

The fictional series was about a multi-religious community in an unspecified Gulf Arab state in the 1930s to 1950s. The show drew criticism from the Palestinian Hamas group, saying it portrayed Jews in a sympathetic light.

At the time, MBC said that the show was the top-rated Gulf drama in Saudi Arabia in Ramadan. The show’s writers, both Bahraini, told Reuters it had no political message.

But experts and diplomats said it was another indication of shifting public discourse on Israel.

Earlier this year, Mohammed al-Aissa, a former Saudi minister and the general secretary of the Muslim World League, visited Auschwitz. In June, he took part in a conference organised by the American Jewish Committee, where he called for a world without “Islamophobia and anti-Semitism”.

“Certainly, MbS is intent on moderating state-sanctioned messages shared by the clerical establishment and part of that will likely work towards justifying any future deal with Israel, which would have seemed unthinkable before,” said Neil Quilliam, associate fellow with Chatham House.

ISOLATED PALESTINIANS

Normalisation between the UAE, Bahrain and Israel, which will be signed at the White House on Tuesday, has further isolated the Palestinians.

Saudi Arabia, the birthplace of Islam, has not directly addressed Israel’s deals with the UAE and Bahrain, but said it remains committed to peace on the basis of the long-standing Arab Peace Initiative.

How, or whether, the kingdom would seek to exchange normalisation for a deal on those terms remains unclear.

That initiative offers normalised ties in return for a statehood deal with the Palestinians and full Israeli withdrawal from territories captured in the 1967 Middle East war.

However, in another eye-catching gesture of goodwill, the kingdom has allowed Israel-UAE flights to use its airspace. Trump’s son-in-law and senior adviser, Jared Kushner, who has a close relationship with MbS, praised the move last week.

A diplomat in the Gulf said that for Saudi Arabia, the issue is more related to what he called its religious position as the leader of the Muslim world, and that a formal deal with Israel would take time and is unlikely to happen while King Salman is still in power.

“Any normalisation by Saudi will open doors for Iran, Qatar and Turkey to call for internationalising the two holy mosques,” he said, referring to periodic calls by critics of Riyadh to have Mecca and Medina placed under international supervision.

(Additional reporting by Davide Barbuscia, Alexander Cornwell in Dubai and Humeyra Pamuk in Washington; editing by Maha El Dahan, Michael Georgy and William Maclean)

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Christine founded Sports Grind Entertainment with an aim to bring relevant and unaltered Sports news to the general public with a specific view point for each story catered by the team. She is a proficient journalist who holds a reputable portfolio with proficiency in content analysis and research.

Christine founded Sports Grind Entertainment with an aim to bring relevant and unaltered Sports news to the general public with a specific view point for each story catered by the team. She is a proficient journalist who holds a reputable portfolio with proficiency in content analysis and research.

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People with this name can get a free flight to Florida on Frontier Airlines

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People with this name can get a free flight to Florida on Frontier Airlines

Frontier Airlines is teaming up with Visit Orlando to fly people with a certain name for free in October.

If your first or last name is Orlando, congratulations. You are eligible for a free flight in the form of a $250 travel voucher to Orlando International Airport between Oct. 13-20 this year, Frontier Airlines said in a news release.

Travelers must confirm their legal first or last name is Orlando by filling out this form by Oct. 5.

The budget airline will then contact travelers to confirm their eligibility and send the voucher, according to Frontier.

“Like the hashtag says, we ‘#LoveOrlando’ and are thrilled to partner with Visit Orlando to welcome new and returning visitors to the mecca for family fun and entertainment,” Tyri Squyres, vice president of marketing, said in a news release.

“Plus, we can’t wait to welcome all the folks named ‘Orlando’ on flights to their namesake destination.”

If your name isn’t Orlando, you still have a chance at free travel.

Frontier is giving away a four-night stay at Wyndham Orlando Resort International Drive for four people along with round-trip airfare and a slew of activities.

You can enter by filling out this form by Oct. 5. Winners will be notified by Oct. 9, according to Frontier. You can only enter once.

This isn’t the first time Frontier has offered free travel for people with certain names. Last year, the airline gave away free flights to people with the last name Green or Greene in honor of its Green Week.

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Demi Lovato Drops Breakup Song Days After Max Ehrich Split

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Demi Lovato Drops Breakup Song Days After Max Ehrich Split

Demi Lovato Drops Breakup Song Days After Max Ehrich Split | PEOPLE.com

























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Regeneron antibody therapy shows promise as feared 2nd wave swells

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Regeneron antibody therapy shows promise as feared 2nd wave swells

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Goldman Sachs Predicts Over 40% Rally for These 3 Stocks

A new wave of optimism is splashing onto the Street. Investment firm Goldman Sachs just gave its three-month stock forecast a boost, lifting it from Neutral to Overweight, with it also projecting “high single-digital returns” for global stocks over the next year.What’s behind this updated approach? Goldman Sachs strategist Christian Mueller-Glissmann cites the impressive rebound in global earnings growth and reduced equity costs as the drivers of the estimate revision. On top of this, a “broader procyclical shift” in stocks and other assets could take place during the remainder of this year.“We have shifted more cyclical on sectors and themes tactically but still prefer growth vs. value on a strategic horizon… In the near-term, elevated uncertainty on U.S. elections and a better global growth outlook might benefit non-U.S. equities more, but in the medium term a large weight in structural growth stocks is likely to support the S&P 500,” Mueller-Glissmann noted.As for the “most important catalyst” that could spur growth optimism in the next year, the strategist points to additional clarity on when and how a COVID-19 vaccine will be available.Turning Mueller-Glissmann’s outlook into concrete recommendations, Goldman Sachs’ analysts are pounding the table on three stocks that look especially compelling. According to these analysts, each name is poised to surge in the 12 months ahead.Raytheon Technologies (RTX)First up we have Raytheon Technologies, which is an aerospace and defense company that provides advanced systems and services for commercial, military and government customers. While shares have stumbled in 2020, Goldman Sachs thinks the weakness presents a buying opportunity.Representing the firm, analyst Noah Poponak points out that RTX is “too high quality and well positioned of a company to trade at an 11% free cash flow yield on the fully aerospace-recovered and fully synergized 2023E free cash.”The analyst’s bullish outlook is largely driven by the company’s aerospace aftermarket (the secondary market that deals with the installation of equipment, spare parts, accessories and components after the sale of the aircraft by the original equipment manufacturer) business, which Poponak argues is “the best sub-market within Aerospace over the long-term.” This segment makes up roughly 45% of RTX’s aerospace revenue.Even though COVID-19 flight disruptions have weighed on this part of the business, Poponak points out total aircraft in service is down only 25% year-over-year, and flights have dipped less than 50%. He added, “China domestic traffic is now up year on year, and while international remains depressed, we believe the recovery in global air travel could be quicker from here than broad expectations for a recovery by 2023-2024.”Poponak highlights that in previous downturns, the aftermarket had to confront headwinds that arose from the increased use of parting out, inventory pooling and delayed aftermarket spending. “Even then, aftermarket grew at or faster than ASMs, and we believe there was pent-up demand heading into this downturn that support aftermarket tracking the recovery in global air travel. Long-term, we expect air traffic to grow 2X global GDP, as it has historically,” the analyst commented.Adding to the good news, the Geared Turbo Fan, which is a type of turbofan aircraft engine, product cycle could generate substantial revenue and EBIT growth at Pratt & Whitney, in Poponak’s opinion.“Given the high OE exposure to the A320neo, which has the strongest backlog of any aircraft in the market, we see Pratt OE revenue holding up better and recovering faster than peers. New GTF deliveries will drive expansion in the installed base for Pratt, which was declining for most of the 2000s. Despite the end of V2500 OE deliveries, that program is just moving into the sweet-spot for shop visits on the aftermarket side,” Poponak opined.What’s more, Poponak sees merger synergies as capable of fueling margin expansion and cash generation, with the historical synergy capture in the space implying that upside to guidance isn’t out of the question.In line with his optimistic approach, Poponak stays with the bulls. To this end, he keeps a Buy rating and $86 price target on the stock. Investors could be pocketing a gain of 49%, should this target be met in the twelve months ahead. (To watch Poponak’s track record, click here)In general, other analysts echo Poponak’s sentiment. 7 Buys and 2 Holds add up to a Strong Buy consensus rating. With an average price target of $78.63, the upside potential comes in at 36.5%. (See RTX stock analysis on TipRanks)Boeing (BA)Moving on to another player in the aerospace space, Boeing has also struggled on account of the COVID-19 pandemic, with it failing to match the pace of the broader market. That being said, Goldman Sachs has high hopes for this name going forward.Firm analyst Noah Poponak, who also covers RTX, points out that BA has already trimmed production rate plans by half, compared to the peak plan from before the COVID crisis and MAX grounding. A slower-than-anticipated air travel rebound could result in more reductions, but the analyst argues these would be much smaller than the reductions that have already been witnessed. He added, “Historically, the best buying opportunities in BA shares are right after it has capitulated to production rate cuts.”According to Poponak, compared to previous economic declines, the peak to trough in the current downturn is larger and faster, although this is partly related to the grounding of the 737 MAX in 2019. “We believe this will result in a less severe dislocation of supply and demand balance, and see deliveries recovering to 2018 levels by 2024 as global air travel recovers and airlines replace accelerated retirements,” he explained.As for how the company can fulfill its new production rate plan “given the mix of its backlog is so much more weighted to growth than replacement,” Poponak believes “the answer is that airlines during this downturn are revising that mix.” Since the pandemic’s onset, airlines have revealed higher aircraft retirement plans, and braced for less growth. “That means for a given revision in an airline’s order book, there is also a substantial mix shift toward replacement from growth within the new delivery numbers. Therefore, the backlog will not necessarily lose all of its growth orders,” the analyst stated.Additionally, following an uptick in aircraft order cancellations in March and April, the pace has slowed. “Even assuming another 200-plus unit cancellations this year, we estimate the 737 MAX would have nearly 6X years of production by the middle of the decade at our revised production rate estimates,” Poponak mentioned.When it comes to free cash flow, the analyst is also optimistic, with Poponak forecasting that BA will see positive free cash flow in 2021. “We think the market is underestimating the mid-cycle achievable aircraft unit cash margins across the major programs, extrapolating temporarily negative items into the future, and underestimating the degree of inventory unwind likely to occur in 2021,” he said.If that wasn’t enough, the MAX recertification could be a major possible catalyst. The company is working towards recertification and return to service, with Poponak expecting both to come before year-end.Taking all of the above into consideration, Poponak maintains a Buy rating and $225 price target. This target conveys his confidence in BA’s ability to climb 35% higher in the next year.Turning to the rest of the analyst community, opinions are mixed. With 8 Buys, 8 Holds and 1 Sell assigned in the last three months, the word on the Street is that BA is a Moderate Buy. At $192.40, the average price target implies 16% upside potential. (See Boeing stock analysis on TipRanks)Immatics (IMTX)Combining the discovery of true targets for cancer immunotherapies (therapies that utilize the power of the immune system) with the development of the right T cell receptors, Immatics hopes to ultimately enable a robust and specific T cell response against these targets. Based on its cutting-edge approach, Goldman Sachs counts itself as a fan.Writing for the firm, analyst Graig Suvannavejh notes that unlike CAR-T approaches, a T cell receptor (TCR)-based approach can go after targets inside the cell, and fight the 90% of cancers which are solid tumor in nature. The company is advancing two technologies: ACTengine, designed for personalized TCR-based cell therapies, and TCER, which targets TCR-based bispecific antibodies.ACTengine is the more advanced technology, with its four assets IMA201, a genetically engineered T cell product candidate that targets melanoma-associated antigen 4 or 8, IMA202, which targets melanoma-associated antigen 1, IMA203, which targets preferentially expressed antigen in melanoma (PRAME) and IMA204 that targets COL6A3 (found in a tumor’s stroma and is highly prevalent in the tumor microenvironment/TME in a broad range of cancers) expected to enter the clinic soon.Using the TCER platform, IMTX is developing IMA401 and IMA402, or “off-the-shelf” biologics consisting of a portion of the TCR which directly recognizes cancer cells and a T cell recruiter domain which recruits and activates the patient’s T cells.Speaking to the market opportunity, Suvannavejh mentioned, “Cancer immunotherapies have made great strides over the past decade, and in particular, advances seen with CAR-T have paved the way for cell therapy-based approaches… CAR-T, however, has to date only shown limited effect in treating cancers that are solid tumor in nature. With more than 90% of all cancers being solid tumors — with lung, breast, colorectal and prostate cancers accounting for c.60% of the total — this is the opportunity for IMTX.” To this end, he believes cumulative 2035 sales could land at $15.5 billion for the ACTengine-based assets.Reflecting another positive, since 2017, IMTX has inked at least one significant partnership per year with top global biopharma companies. According to Suvannavejh, each provided non-dilutive funding opportunities.The analyst added, “…the ARYA Sciences Acquisition Corporation, a special purpose acquisition company (SPAC), merger that enabled IMTX to become a publicly traded entity brought in a deep roster of well-known, experienced healthcare-dedicated institutional investors. Taken together, we find these to be validating of IMTX’s longer-term prospects.”Looking ahead, the initial clinical data readouts for IMA201, IMA202 and IMA203, which are slated for Q1 2021, and investigational new drug (IND) application submissions for IMA204 and IMA401 in 2021 and YE2021, respectively, reflect key potential catalysts, in Suvannavejh’s opinion.Everything that IMTX has going for it convinced Suvannavejh to reiterate his Buy rating. Along with the call, he attached a $17 price target, suggesting 73% upside potential. (To watch Suvannavejh’s track record, click here)Are other analysts in agreement? They are. Only Buy ratings, 4, in fact, have been issued in the last three months. Therefore, the message is clear: IMTX is a Strong Buy. Given the $19 average price target, shares could soar 93% in the next year. (See Immatics stock analysis on TipRanks)To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

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Christine founded Sports Grind Entertainment with an aim to bring relevant and unaltered Sports news to the general public with a specific view point for each story catered by the team. She is a proficient journalist who holds a reputable portfolio with proficiency in content analysis and research.

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