Former UK Leaders Unite to Slam Boris Johnson on Brexit Plan

Prime Minister Boris Johnson. (Reuters)
Prime Minister Boris Johnson. (Reuters)
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Former UK Leaders Unite to Slam Boris Johnson on Brexit Plan

Prime Minister Boris Johnson. (Reuters)
Prime Minister Boris Johnson. (Reuters)

Two former British prime ministers who played crucial roles in bringing peace to Northern Ireland joined forces Sunday to urge lawmakers to reject government plans to override the Brexit deal with the European Union, arguing that it imperils that peace and damages the UK's reputation.

In an article in The Sunday Times, John Major and Tony Blair slammed the current British government for “shaming” the country with legislation that, in places, goes against the very deal it signed to allow for the UK's smooth departure from the EU earlier this year.

Major, a Conservative prime minister from 1990 to 1997, and Blair, his Labor successor for a decade, said Prime Minister Boris Johnson's Internal Market Bill “questions the very integrity" of the UK.

“This government’s action is shaming itself and embarrassing our nation," they said.

The planned legislation, which will be debated by British lawmakers this week, has led to a furious outcry within the EU as it would diminish the bloc's previously agreed oversight of trade between mainland Britain and Northern Ireland if a UK-EU trade agreement isn’t secured.

The British government has admitted that the legislation would break international law, but argues that it's an insurance policy in the event a trade deal with the EU is not secured by the end of this year.

Johnson has said the legislation is needed to end EU threats to impose a “blockade” in the Irish Sea that the prime minister asserted could “carve up our country.” EU leaders have furiously rejected that charge.

Justice Secretary Robert Buckland told the BBC on Sunday that the legislation was a “break the glass in emergency provision," if needed, and that he would resign if he believed the rule of law was broken in an “unacceptable” way.

“I don’t believe we’re going to get to that stage,” he said.

With the British government showing no sign of changing course, there are real concerns that the talks on a future trade deal between the UK and the EU could collapse within weeks. If that happens, tariffs and other impediments to trade will be imposed by both sides at the start of 2021.

The UK left the EU on Jan. 31, but it is in a transition period that effectively sees it benefit from the bloc’s tariff-free trade until the end of the year while a future relationship is negotiated. Even before the latest standoff, discussions between the EU’s chief negotiator, Michel Barnier, and his UK counterpart, David Frost, had made very little progress.

One major element of the Brexit withdrawal agreement is the section related to ensuring an open border on the island of Ireland to protect the peace process in Northern Ireland.

The issue proved thorny during the more than two years of discussions it took to get a Brexit deal done, as the border between Northern Ireland and Ireland is the only land link between the UK and the EU.

The EU wanted assurances the border would not be used as a back route for unlicensed goods arriving in Ireland from the rest of the UK — England, Scotland and Wales. As a result, the two sides agreed there would be some kind of regulatory border between mainland Britain and Northern Ireland.

Major and Blair, who both vociferously opposed Brexit, said the planned legislation puts the 1998 Good Friday agreement that ended decades of violence in Northern Ireland at risk.

Th pair said the bill "negates the predictability, political stability and legal clarity that are integral to the delicate balance between the north and south of Ireland that is at the core of the peace process.”

It's unclear whether the planned legislation will get through the British Parliament, with a number of Johnson's fellow Conservatives uneasy at the prospect of the government breaching international law.

Tobias Ellwood is one lawmaker who has said he could not accept the legislation, arguing that the bill diminishes “our role-model status as defender of global standards.”



Egypt Plans $1 Billion Red Sea Marina, Hotel Development

This picture shows a partial view of Egypt's Red Sea city of Sharm el-Sheikh, October 7, 2025. (AFP)
This picture shows a partial view of Egypt's Red Sea city of Sharm el-Sheikh, October 7, 2025. (AFP)
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Egypt Plans $1 Billion Red Sea Marina, Hotel Development

This picture shows a partial view of Egypt's Red Sea city of Sharm el-Sheikh, October 7, 2025. (AFP)
This picture shows a partial view of Egypt's Red Sea city of Sharm el-Sheikh, October 7, 2025. (AFP)

Egypt announced plans on Monday for a new $1 billion marina, hotel and housing development on the Red Sea in a bid to boost the region's tourist industry.

Construction on the "Monte Galala Towers and Marina" project would ‌start in ‌the second ‌half ⁠of the ‌year and run for seven years, Ahmed Shalaby, managing director of the main developer, Tatweer Misr, said.

The 10-tower development - a partnership with the ⁠housing ministry and other state bodies ‌including the armed ‍forces' engineering authority - ‍would cost about 50 ‍billion Egyptian pounds ($1.07 billion), he added.

The project, also announced by the cabinet, will cover 470,000 square meters on the Gulf of Suez, about ⁠35 km south of Ain Sokhna, Shalaby said.

Egypt aims to boost total tourist arrivals to around 30 million by 2030, from around 19 million recorded by the tourism ministry in 2025.


Saudi-Polish Investment Forum Explores Prospects for Economic and Investment Cooperation

The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation - SPA
The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation - SPA
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Saudi-Polish Investment Forum Explores Prospects for Economic and Investment Cooperation

The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation - SPA
The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation - SPA

The Saudi-Polish Investment Forum was held today at the headquarters of the Federation of Saudi Chambers in Riyadh, with the participation of Minister of Investment Khalid Al-Falih, Minister of Finance of the Republic of Poland Andrzej Domański, and Vice President of the Federation of Saudi Chambers Emad Al-Fakhri.

The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation, expanding investment partnerships in priority sectors, and exploring high-quality investment opportunities that support sustainable growth in Saudi Arabia and Poland.

During a dedicated session, the forum reviewed economic and investment prospects in both countries through presentations highlighting promising opportunities, investment enablers, and supportive legislative environments.

Several specialized roundtables addressed strategic themes, including the development of the digital economy, with a focus on information and communication technologies (ICT), financial technologies (fintech), and artificial intelligence-driven innovation, SPA reported.

Discussions also covered the development of agricultural value chains from production to market access through advanced technologies, food processing, and agricultural machinery. In addition, participants examined ways to enhance the construction sector by developing systems and materials, improving execution efficiency, and accelerating delivery timelines. Energy security issues and the role of industrial sectors in supporting economic transformation and sustainability were also discussed.

The forum witnessed the announcement of two major investment agreements. The first aims to establish a framework for joint cooperation in supporting investment, exchanging information and expertise, and organizing joint business events to strengthen institutional partnerships.

The second agreement focuses on supporting reciprocal investments through the development of financing and insurance tools and the stimulation of joint ventures to boost investment flows.

The forum concluded by emphasizing the importance of continued coordination and dialogue between the public and private sectors in both countries to deepen Saudi-Polish economic relations and advance shared interests.


Gold Rises as Dollar Slips, Focus Turns to US Jobs Data

FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
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Gold Rises as Dollar Slips, Focus Turns to US Jobs Data

FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo

Gold prices rose on Monday, buoyed by a softer dollar as investors braced for a week packed with US economic data that could offer more clues on the US Federal Reserve's monetary policy.

Spot gold rose 1.2% to $5,018.56 per ounce by 9:30 a.m. ET (1430 GMT), extending a 4% rally from Friday.

US gold futures for April delivery also gained 1.3% to $5,042.20 per ounce.

The US dollar fell 0.8% to a more than one-week low, making greenback-priced bullion cheaper for overseas buyers.

"The big mover today (in gold prices) is the US dollar," said Bart Melek, global head of commodity strategy at TD Securities, adding that expectations are growing for weak economic data, particularly on the labor front, Reuters reported.

Investors are closely watching this week's release of US nonfarm payrolls, consumer prices and initial jobless claims for fresh signals on monetary policy, with markets already pricing in at least two rate cuts of 25 basis points in 2026.

US nonfarm payrolls are expected to have risen by 70,000 in January, according to a Reuters poll.

Lower interest rates tend to support gold by reducing the opportunity cost of holding the non-yielding asset.

Meanwhile, China's central bank extended its gold buying spree for a 15th month in January, data from the People's Bank of China showed on Saturday.

"The debasement trade continues, with ongoing geopolitical risks driving people into gold," Melek said, adding that China's purchases have had a psychological impact on the market.

Spot silver climbed 2.9% to $80.22 per ounce after a near 10% gain in the previous session. It hit an all-time high of $121.64 on January 29.

Spot platinum was down 0.2% at $2,092.95 per ounce, while palladium was steady at $1,707.25.

"A slowdown in EV sales hasn't really materialized despite all the policy softening, so I do see that platinum and palladium will possibly slow down," after a bullish run in 2025, WisdomTree commodities strategist Nitesh Shah said.