From the Editors: Dubai scores bulls-eye with first two IPOs – and is gunning for more

NEW LEASE OF LIFE FOR VICTIMS OF DRUG ABUSE: Dubai Police’s efforts to help rehabilitate victims of drug abuse must be commended. The Hemaya International Centre’s initiatives enable the identification and treatment of those affected, which is very reassuring for families. In order to bring youngsters, who may have gone astray, back to the mainstream is not an easy task. But time and again, proven cases have shown that where there is a will, there is a way. Turning over a new leaf and regaining normality is not an impossibility, and more so when the right guidance and expertise is available. [COMMENT BY: Sharmila Dhal, UAE Editor]

DUBAI SCORES BULLS-EYE WITH FIRST TWO IPOS - AND IS GUNNING FOR MORE: Down out the noise emanating from global stock markets, with worries over – pick your choice – inflation, stagflation or recession having investors on the edge. Then, take a closer look at Dubai and the back-to-back IPO successes delivered in recent weeks. Dubai stuck to the timetable it has set for itself in coming up with periodic IPOs of its blue-chip enterprises. That the Tecom Group IPO pulled the highest ever retail investor over-subscription to date for a stock float on the DFM. So, will Dubai take a break for summer on its IPO agenda? Meantime, the next candidate – Salik – has transitioned into a company and the Board of Directors appointed. And investors await…

ISRAEL FACES YET ANOTHER ELECTION ON NOVEMBER 1: IsraeI is going to the polls for the fifth time in less than four years after an year-old fragile coalition collapsed. Foreign Minister Yair Lapid will become interim prime minister, replacing Naftali Bennett, until a new government is formed after the November 1 elections. Internal divisions of Bennett’s coalition, an uneasy motley alliance of secular and religious factions, hawks and doves, free marketeers and social democrats, and for the first time in Israel’s history an Arab party, finally proved too much. For opposition leader Benjamin Netanyahu, who was Israel’s longest-serving premier, the demise of the coalition could present an opportunity to return to power. However, the four deadlocked elections in the previous three years were largely referendums on Netanyahu’s fitness to serve while facing charges of accepting bribes, fraud and breach of trust. Netanyahu has denied any wrongdoing. [COMMENT BY: Stephen N.R., Senior Asociate Editor]

MARCOS SWORN IN WITH CALL FOR UNITY: Ferdinand Marcos Marcos Jr, has been sworn in as Philippine president, 36 years after his father was removed from office. The election victory has been nothing short of a political comeback and in his inaugural speech Marcos defended the legacy of his late father. Winning elections and governing the people are two different things. Marcos has called for unity, saying ``we will go further together than against each other, pushing forward not pulling each other." He will need this to fight decades-old insurgencies, crime, inequality and political divisions. [COMMENT BY: Alex Abraham, Senior Associate Editor]

R. KELLY'S 30-YEAR PRISON SENTENCE SPELLS VICTORY FOR HIS VICTIMS: In a clear victory for the survivors and the broader #MeToo movement, disgraced singer R. Kelly has been sentenced to 30 years in prison for using his celebrity status to sexually abuse women and children for years. The news comes eight months after the R&B artist, 55, was convicted in New York of racketeering and sex trafficking crimes. US District Judge Ann Donnelly also said Kelly had used sex as a weapon, forcing his victims to do unspeakable things and leaving some with sexually transmitted diseases. While Kelly’s lawyers have already stated that the singer plans to appeal, his downfall was a long time coming and will some level of closure to the survivors who have been waiting for this day to come. [COMMENT BY: Bindu Rai, Entertainment Editor]