LONDON: British police investigating the deadly attacks on London Bridge on Saturday said they had arrested three more suspects, as footage of the moment officers shot the assailants dead appeared online.
Counter terrorism officers, backed up by armed colleagues, arrested two men on the street in Ilford, east London, late on Wednesday, while a third was arrested at a house nearby, police said in a statement.
Two of the men, aged 27 and 29, were held on suspicion of preparing acts of terrorism while the third was detained over suspected drugs offences.
Eight people were killed and 50 injured after three Islamist militants drove into pedestrians on London Bridge late on Saturday, then attacked revellers in nearby bars and restaurants with knives.
Closed circuit TV footage, which appeared online and in British media, showed the attackers - Khuram Butt, Rachid Redouane and Youssef Zaghba - cornering a victim and starting to stab him before police are seen arriving and opening fire.
Police have previously said eight officers who rushed to scene fired about 50 rounds, killing the three attackers.
The Times newspaper also said it had obtained footage of the men laughing and joking five days before the attack as they met outside the Ummah Fitness Centre, a gym in east London where Butt trained.
Earlier this week the gym put a note on its door which read: "While Mr Butt did occasionally train here at UFC gym we do not know him well nor did we see anything of concern."
Police and the security agencies are facing questions about whether they missed chances to thwart the attack.
Butt had appeared in a television documentary called "The Jihadis Next Door", as one of a group of men who unfurled an Islamic State flag in a park and who had connections with known radical preachers.
Zaghba, an Italian-Moroccan national, was identified as a possible militant threat after he was stopped at Bologna airport in 2016 as tried to reach Syria. He was not charged, but local police monitored him carefully and said they had tipped off Britain when he subsequently moved to London.
The authorities have said Butt was known to police and the domestic security service MI5 but there was no intelligence that an attack was being planned. They said they were unaware of the other two men.
Police have made more than a dozen arrests in the wake of the London Bridge attacks, but most have now been released without charge.
In a separate investigation not linked to the London Bridge attacks, officers backed up by armed police arrested three men in east London on Thursday on suspicion of preparing for acts of terrorism.
UK arrests three as footage of London Bridge attack appears online
UK arrests three as footage of London Bridge attack appears online
Saudi Arabia to see 700% surge in millionaire inflows in 2025: Henley & Partners
RIYADH: Saudi Arabia is projected to attract 2,400 high-net-worth individuals in 2025, marking a sharp increase from the 300 millionaires estimated to have relocated to the Kingdom in 2024.
This eightfold rise positions Saudi Arabia as the fastest climber in the Henley Private Wealth Migration Report 2025, published by Henley & Partners in collaboration with New World Wealth.
Across the Gulf, the UAE continues to lead globally, forecast to attract 9,800 millionaires this year, the highest net inflow worldwide, followed by the US with 7,500.
HNWIs are relocating to the Kingdom due to its ambitious Vision 2030 agenda, pro-business reforms, and growing investment opportunities. The surge in inbound wealth reflects the region’s growing appeal to both returning nationals and international investors, particularly in Riyadh and Jeddah.
Saudi Arabia has also introduced attractive residency programs, tax incentives, and a push to diversify the economy beyond oil.
Juerg Steffen, CEO of Henley & Partners said that 2025 marks a “pivotal moment” for global wealth migration, adding: “It reflects a deepening perception among the wealthy that greater opportunity, freedom, and stability lie elsewhere.”
Mega projects like NEOM, improved infrastructure, and a focus on tourism and fintech are drawing international interest.
Additionally, the Kingdom offers political stability, regional influence, and a strategic location, making it an increasingly attractive destination for global wealth.
Henley & Partner’s report aligns with a recent study by consulting firm Capgemini, which highlighted the Middle East’s growing appeal to next-generation high-net-worth individuals, citing geopolitical security and economic stability as key drivers of investment interest in the region.
The analysis, published earlier in June, pointed specifically to Saudi Arabia’s aggressive efforts to attract global wealth through its economic diversification strategies, positioning the Kingdom as a rising center for international capital.
Capgemini also noted that the UAE is capitalizing on the same trend, with both Gulf economies drawing increased interest from global investors seeking high-growth markets and stable financial environments.
UK biggest loser amid global shift
Henley & Partner’s recent report predicts that an unprecedented 142,000 millionaires across the world are expected to relocate in 2025.
While Gulf countries and select European destinations see rising inflows, several traditional wealth hubs are witnessing record outflows.
The UK is forecast to lose 16,500 high-net-worth individuals, the highest on record, more than doubling China’s projected outflow of 7,800.
This reversal comes after years of the UK being a net destination for wealth, with recent tax reforms — including increases to capital gains and inheritance taxes and tighter regulations on non-domiciled residents — prompting an accelerated departure.
“Since 2014, the number of resident millionaires in the UK dropped by 9 percent compared with the W10’s global average growth of 40 percent,” said Trevor Williams, chair and co-founder at FXGuard, a digital foreign exchange risk manager, according to the report.
The shift is part of a broader trend in Europe, where France, Spain, and Germany are also expected to experience net outflows of wealthy individuals.
In contrast, Southern Europe is emerging as a new hub for global wealth.
Switzerland is projected to gain 3,000 millionaires, while Italy is set to receive 3,600.
Portugal and Greece are expected to receive 1,400 and 1,200, respectively.
Smaller markets such as Malta, Montenegro, and Latvia are also benefiting from favorable tax regimes and investment migration programs.
Beyond Europe, Thailand and Japan are increasingly preferred by wealthy individuals in Asia.
Thailand is forecast to gain 450 millionaires, and Japan 600, driven by political stability and high-end real estate.
Hong Kong is also showing signs of recovery, with inflows from mainland Chinese executives linked to the region’s growing tech sector. However, South Korea is set to see a significant outflow of 2,400 millionaires, reflecting broader economic and political uncertainty.
Other countries in Asia and the Middle East, including Vietnam, Pakistan, Iran, and Lebanon, are expected to see continued outflows of wealthy individuals, many relocating to the UAE or the US.
Misha Glenny, rector at the Institute for Human Sciences in Vienna, said recent geopolitical developments, including tensions in the Middle East, are contributing to a reshuffling of wealth migration patterns, according to the report.
In the Americas, Central American and Caribbean jurisdictions such as Costa Rica, Panama, and the Cayman Islands are expected to attract record numbers of high-net-worth individuals.
Despite a lower-than-usual forecast for inflows, the US remains a top destination for relocating millionaires.
Parag Khanna, founder and CEO of AlphaGeo, an AI-powered predictive analytics platform for investing, noted the ongoing role of Asia in shaping global wealth trends.
“Asia’s wealth landscape is a dynamic blend of ambition and caution. Singapore and Japan are solidifying their reputations as global wealth havens, while China and India are balancing domestic opportunity with the desire for diversification,” Khanna was quoted as saying in the report.
‘Home of cricket’ faces new challenges
- Lord’s symbolizes the sport’s rich heritage, but has also moved with the times
During the World Test Championship final at Lord’s, a previously unthinkable discussion opened up among friends from a variety of backgrounds: Does Lord’s still justify its cachet as the home of cricket? The very question will be regarded as heresy in many quarters, but the heavy thought hung in the air.
At a meeting of the International Cricket Council’s executives committee in April 2025, the Board of Control for Cricket in India expressed its desire to host future WTC finals.
India’s motivations are clear. Hosting the event would cement its position as the powerhouse of international cricket. The BCCI argues that viewership and commercial revenue would be boosted, along with tourism. However, these would be jeopardized if India failed to reach the final. Attendances for matches in India which do not involve the Indian team are notably low. If the final continues to be scheduled for June, there is also the issue of the monsoon season. In order to hold it in another month, the existing crowded international and domestic schedules would have to be disrupted. It is probably too late to change the dates of the current two-year cycle and maybe for the two which follow.
In response to this challenge, the England and Wales Cricket Board and the Marylebone Cricket Club launched a charm offensive before and during the WTC final.
In January, the MCC invited the ICC’s Chair Jay Shah to join a new advisory board of its World Cricket Connects initiative. Launched in 2024 at Lord’s, the initiative gathers together over 100 people, including administrators, former and current players, coaches, players’ association leaders, media and broadcasting personnel.
The advisory board, comprising 13 members, has replaced the MCC’s World Cricket Committee. After its inaugural meeting at Lord’s, it will meet virtually throughout the year. How much Mr. Shah’s busy schedule allows him to participate remains to be seen.
He was very much in evidence at Lord’s, where he was feted by the ECB’s leaders. Together with the MCC, they ensured that the full pomp and circumstance associated with a Lord’s Test match was brought to bear. This included an invitation to ring the bell prior to the start of the match. As mentioned last week, rumors now abound that Shah was sufficiently impressed to the point where he will recommend to the ICC’s Annual Conference in July that Lord’s should host the next three WTC finals. If this motion passes, it will burnish the claim of Lord’s to be the home of cricket. It will also be a test of Shah’s omnipotence since the BCCI is likely to be disappointed.
His power and presence were encapsulated in the ICC’s 45-second video of the match highlights released after the final. This has not gone down well on social media. Fans expressed their disappointment by trolling both the ICC and Shah, who features in 11 of the 23 frames. A common reaction is that the video is a PR piece for Shah, to the exclusion of key players and moments. Other reactions have been even more uncomplimentary. There has also been adverse reaction to reports that he did not attend the World Cricket Connects forum, an event he also missed last year.
Topics for discussion this year included fan engagement, franchise cricket, growth in women’s cricket, sustainability issues, social impact and shortage of willow. All of these are topical issues for the game. Gathering together “the most influential voices in the sport” alongside a major match is perhaps something that only the MCC and Lord’s can achieve. An interesting aspect of this was that the heads of the main franchise leagues met together in person for the first time. One hopes that they talked about scheduling clashes.
This is a matter which should vex Shah and the ICC. His voice is indisputably influential. The World Cricket Connects forum and its advisory board have no power. Its purpose is to make recommendations to the ICC, which is under no obligation to address them. Inviting Shah to join the advisory board — and his acceptance of the invitation — looks a little odd. Should he be part of a board which will present recommendations to the governing body of which he is the chair? Perhaps his non-attendance reflects an acceptance of this duality and potential conflict of interests. Either way, neither party appears to have made a public statement.
If Lord’s does retain the honor of hosting the WTC final, the ECB and MCC’s overtures will have been successful. It is relevant to wonder what quid pro quo may be in the offing. Perhaps the imminent influx of Indian shareholding of The Hundred franchises, including the one held by the MCC at Lord’s, is playing a part in the decision-making.
The MCC retains a privileged position within cricket. It has been the maker of the laws of cricket since its formation in 1787. Although it maintains this position, law changes will only be made after discussion with the ICC. Until 2005, Lord’s was the home of the ICC, when it moved to Dubai. Both of these pillars underpinned Lord’s as the home of cricket.
Despite the partial removal of the pillars, players say that it remains an ambition to score 100 or take five wickets at Lord’s, for which the reward is to have their name etched on the honors board. There are famous players who have not achieved this feat. Sachin Tendulkar is one of them, along with Sunil Gavaskar, Ricky Ponting and Jacques Kallis. On their way to the field of play, each player walks through the Long Room, lined with MCC members, oil paintings and other cricketing artifacts, representing over 200 years of ritual, legacy, shaping and preservation of the game.
The ground symbolizes cricket’s rich heritage and tradition. It has moved with the times, choosing more modern structures to sit alongside the pavilion of late 19th-century vintage. These may not be to everyone’s liking, but spectator viewing has improved along with ground capacity. Unique among Test match venues in England, spectators are allowed to bring alcohol into the ground, but no fancy dressing-up is allowed, or musical instruments.
There is no other cricket ground quite like it. Sydney has a number of similar characteristics and a rich history; the Melbourne Cricket Ground has three times the capacity of Lord’s; the newly built stadium in Ahmedabad has four times more; Eden Gardens, Kolkata, is much noisier; and Newlands at Cape Town sits iconically in the shadow of Table Mountain. Cricket’s governing body now resides in Dubai, UAE, which has become the place to go for countries that require a neutral venue or an emergency outlet.
Compared with these and other venues, Lord’s continues to hold sway over them. MCC membership and ethos is idiosyncratic. The ground and its architecture reek of history and tradition. There are no crumbling facades, and plans for redevelopment of stands are constantly under consideration. The sloping playing area provides another unique characteristic and an additional test of a player’s skill set.
London’s multicultural population means that big matches that do not involve England are able to attract sizable crowds, unlike arenas in other countries.
Lord’s has evolved and endured, while maintaining its essence, grace, dignity, prestige and tradition. These characteristics and its place in shaping the game combine to support its accolade as the home of cricket.
In concluding the discussion with my friends, they were of the view that Lord’s still holds its status. They, along with many others, hope that the uniqueness of Lord’s is strong enough to ward off the competition from India for future WTC finals.
Pakistan says Roosevelt Hotel’s base valuation complete, will decide on transaction structure this month
- Hotel could fetch 4–5 times more under joint venture than in outright sale, privatization chief says
- Government hopes to finalize deal structure this June, has hired US consulting firm Jones Lang LaSalle
ISLAMABAD: Pakistan has completed the baseline valuation of the Roosevelt Hotel in New York and is preparing to move forward with a transaction structure this month to privatize the state-owned property, the head of the Privatization Commission told Arab News this week.
The Roosevelt, a 1,015-room historic hotel in Midtown Manhattan, has long been one of Pakistan’s most prominent but politically sensitive overseas assets. Acquired by Pakistan International Airlines Investment Limited (PIAIL) in 1979, the hotel occupies a full city block on Madison Avenue and 45th Street. Over the past two decades, successive Pakistani governments have floated plans to sell, lease, or redevelop the property, but no proposal has advanced beyond early-stage planning.
Operations at the Roosevelt were suspended in 2020 following steep financial losses during the COVID-19 pandemic. In 2023, Pakistan entered a short-term lease with the City of New York to use the property as a temporary shelter for asylum seekers, generating more than $220 million in projected rental income. That agreement ended in 2024 and no new revenue stream has since been announced.
“We have an idea of the asset valuation in Roosevelt,” Muhammad Ali, chairman of Pakistan’s Privatization Commission, said in an interview when asked about the timeline to privatize the hotel.
“We have appointed JLL [Jones Lang LaSalle], who are one of the top consultants in the US market. They have done their homework. They have done the market sounding also. We just need to get approval from the Cabinet Committee [on Privatization] on the structure, and we’ll move ahead.”
He added:
“So this year, before June, I’m hoping that on the Roosevelt, we will have gone ahead with execution of the transaction as far as whatever structure is decided.”
VALUATION AND TRANSACTION STRUCTURE
The Roosevelt, whose liabilities and losses the privatization chief did not disclose, is one of several state assets the government hopes will contribute to its target of raising Rs86 billion ($306 million) in privatization proceeds during the fiscal year starting July 1, alongside the sale of national carrier Pakistan International Airlines and three electricity distribution companies.
But how much money the hotel ultimately brings in, and its overall valuation, depended on the type of transaction structure adopted, Ali said.
If the government opted for a straightforward “as-is” sale and sold the property without securing any new permissions or approvals for zoning or development, the hotel would fetch the lowest price.
However, if the government first obtained the necessary permits and approvals that a buyer would typically need for redevelopment, the property’s value could double compared to the “as-is” sale.
Alternatively, if the government formed a joint venture with a private investor, sharing both the risks and future profits, the hotel could be worth four to five times more than its as-is valuation.
“So, depending on what sort of structure you have, how much risk you take, how much effort the government puts in, we can make a lot of money from this asset,” the privatization chief said.
“If we go with a joint venture structure, then this year we will only get the first advance payment, so that’s a small amount of money which will be coming in [FY26].”
Iran’s supreme leader makes first public statement since ceasefire declared in Israel-Iran war
- Khamenei hasn't been seen in public since taking shelter in a secret location after the outbreak of the war June 13
DUBAI: Iran’s Supreme Leader Ayatollah Ali Khamenei claimed victory over Israel and said his country had “delivered a hand slap to America’s face” on Thursday, in his first public comments since a ceasefire was declared in the war between the two countries.
Khamenei spoke in a video broadcast on Iranian state television, his first appearance since June 19, looking and sounding more tired than he did only a week ago.
He told viewers that the US had only intervened in the war because “it felt that if it did not intervene, the Zionist regime would be utterly destroyed.”
But he said, however, that the US “achieved no gains from this war."
“The Islamic Republic was victorious and, in retaliation, delivered a hand slap to America’s face,” he said, in apparent reference to an Iranian missile attack on an American base in Qatar on Monday, which caused no casualties.
The 86-year-old Khamenei hasn't been seen in public since taking shelter in a secret location after the outbreak of the war June 13 when Israel attacked Iranian nuclear facilities and targeted top military commanders and scientists.
Following an American attack on June 22 that hit the nuclear sites with bunker-buster bombs, U.S. President Donald Trump was able to help negotiate a ceasefire that came into effect on Tuesday.
In his appearance on Thursday, he sat in front of plain brown curtains to give his address, similar to his June 19 message.
OSP hosts region’s first ever JEC Composites Talks in Saudi Arabia
Saudi Arabia hosted the JEC Composites Talks Middle East on June 24 in Alkhobar, marking the region’s first event fully dedicated to composite materials. Organized by JEC and hosted by the OSP, the event promotes polymer‑based applications, fosters industrial diversification through non‑metallic materials, and accelerates the transfer of innovative technologies while forging partnerships between local and international stakeholders.
Against the backdrop of Saudi Vision 2030 and significant investments in the region in advanced materials, fiber‑reinforced composites are emerging as key enablers across sectors such as mobility, construction, energy, oil and gas, and infrastructure.
The JEC Composites Talks Middle East gathered industry leaders, policymakers, researchers, and entrepreneurs to explore market trends, localization strategies, technological innovation, sustainability, and the composites value chain, capped by a curated networking reception. On June 25, participants visited SPARK, Mateen Bar, and Novel facilities to experience firsthand regional capabilities.
Mohammad Al-Tayyar, program director of OSP, said: “Our partnership with JEC marks a new era for the composites industry in Saudi Arabia paving the way for significant advancements in environmentally efficient solutions and industrial partnerships, ensuring that the Kingdom remains at the forefront of the composites market.”
Thomas Lepretre, vice president sales, events and operations at JEC Group, said: “Middle East and Saudi Arabia represent a strong market potential for composites materials. We are very pleased to be partnering with OSP and being able to serve the composites industry by organizing events in the Kingdom.”
Building on this momentum, the first JEC Forum Middle East — a business meetings‑focused event— will be held in Riyadh on June 23–24, 2026, uniting the region’s composites value chain.
