partnership

Intuit is the first new founding partner of the 2028 Olympics and Paralympics to take advantage of venue naming opportunities available for the L.A. Games as the financial technology company and LA28 announced a sponsorship deal Friday.

Per the partnership, Intuit will retain its name on Intuit Dome for Olympic basketball competitions and work with LA28 to assist small businesses in the city, provide select U.S. athletes with free tax preparation and expand financial education for students in the L.A. community.

Previously, the International Olympic Committee required “clean venues,” which necessitated scrubbing all mention of corporate sponsorship. It has required LA28 organizers to use generic names such as Exposition Park Stadium for BMO Stadium or 2028 Stadium for SoFi Stadium.

But after the IOC and LA28 announced an agreement in August that opened potential venue naming rights, Honda Center (volleyball), Peacock Theater (weightlifting and boxing) and the Comcast Squash Center at Universal Studios became the first venues to have corporate sponsorship. Honda and Comcast had already previously announced deals to become founding partners with LA28.

John Slusher, chief executive of LA28’s commercial operation, believed Intuit, which is in a 23-year partnership with the Clippers, would have been a potential Olympic partner no matter what, he said the pace of conversations picked up after naming rights became available. The Intuit Dome will host men’s and women’s basketball competitions that are among the most popular Olympic events and basketball is one of the few sports that competes for the duration of the Games, giving the arena a prime position in the Olympic spotlight.

“It wasn’t just any building. It was an incredibly important and state-of-the-art building,” Slusher said in an interview with The Times. “And it obviously ties so well with their investment in Los Angeles and what they do with the dome right now.”

Intuit Dome opened in 2024 for the Clippers. Hailed for its innovative use of technology, massive halo board and large fan section dubbed “The Wall,” the project from Clippers owner Steve Ballmer has already secured hosting rights for the NBA All-Star Game in February.

“Intuit is incredibly proud to be a founding partner of the LA28 Games,” Intuit chief marketing officer Thomas Ranese said in a statement. “Our commitment to powering prosperity aligns perfectly with the spirit of the movement: celebrating determination, optimism, and the belief in what’s possible. Just as athletes strive for gold, we empower consumers and businesses to outdo their financial goals with confidence.”

Conversations with partners regarding naming rights for temporary venues have started, Slusher said, beginning with companies already involved in The Olympic Partner (TOP) program. While no deals have closed for temporary venues yet, the initial feedback from partners “seems incredibly excited,” Slusher said.

The venue naming rights opened a never-before-tapped revenue stream for the 2028 Games, which are expected to cost about $7.1 billion. Organizers are hoping to cover at least $2.5 billion with domestic sponsorship. The financial terms of Friday’s contract were not disclosed, but founding-level partnerships are reported to start at roughly $200 million, according to Sports Business Journal.

The organizing committee had lofty marketing expectations heading into 2025. Hoping to capitalize on the successful 2024 Paris Games, the group aimed to bring in $800 million to $1 billion in deals this year and reach $2 billion total by the beginning of 2026. After announcing three founding-level partnerships this year between Intuit, Honda and Starbucks, Slusher says he believes the team is on track to meet its goals.

“We feel very confident that what we said back then will be true,” Slusher said. “So we’re feeling great about the progress. I think we saw an incredible momentum in the first quarter, and now what we’re seeing is that same momentum. … We are super excited about it and more to come.”

Every last deal matters approaching the July 14, 2028, opening ceremony. Any debt incurred from Games operation by LA28 will fall to L.A. The city is on the hook for the first $270 million in overrun costs, with California picking up the next $270 million and the rest falling back to L.A.

Saudi Aerospace Solutions (SAS) has signed an agreement to purchase 100 electric helicopters from the Chinese company Vertaxi. This reflects Saudi Arabia’s commitment to strengthening its technological partnership with China in the field of future aviation. Saudi Arabian Airlines confirmed its intention to use these small, electric-powered aircraft, acquired through the “Vertaxi” deal, to transport pilgrims between Mecca and Jeddah, as well as visitors to major sporting events in Riyadh and other tourist destinations. The low-altitude economy (LAE), represented by “Vertaxi,” is a strategic and emerging sector in China, combining advanced manufacturing with new business models such as smart cities. SAS’s vision is to establish Saudi Arabia as a regional hub for the LEA by 2030.

  Through this deal with China’s Vertaxi and Saudi Aerospace Solutions Group, it continues to pursue its ambitious goals of connecting the world to Saudi Arabia. This includes offering several advantages, such as linking multiple destinations via this advanced Chinese electric aircraft and supporting them with air routes between the major airports where the Saudi group operates. This initiative aligns with Saudi Arabia’s vision of economic diversification and the shift towards smart transportation models that could impact future technological and regional balances. The 8th China International Import Expo witnessed the signing of an agreement between Saudi Aerospace Solutions Group and Vertaxi, a Chinese company specializing in electric vertical takeoff and landing (eVTOL) aircraft. Saudi Aerospace Solutions Group signed a letter of intent to purchase 100 Vertaxi M1 electric cargo VTOL aircraft.  The electric aircraft included in the deal are among the first fully electric vertical takeoff and landing (eVTOL) vehicles.

 These aircraft are distinguished by their ability to take off and land vertically, eliminating the need for traditional airports. They can travel up to 175 km at speeds of up to 260 km/h, offering significant time savings for individual passengers compared to other options, and can accommodate up to six passengers.

 Through this deal with China, Saudi Arabia, officially through the Saudi Solutions Group, aims to enter a new era and achieve leadership in the aviation and air transport sector in the region. The Saudi electric aircraft deal with China will provide unprecedented solutions and new air routes to connect pilgrims to Mecca during the Hajj and Umrah seasons. It will also enable visitors to Saudi Arabia to quickly access sporting and entertainment events and tourist sites, in addition to connecting the Kingdom’s mega-projects within the framework of Saudi Vision 2030 with distinguished air services that meet the future aspirations of Saudis. Furthermore, this deal achieves a highly important objective for Saudi Arabia, which is continuing the implementation of initiatives supporting sustainability and environmental conservation (electric aircraft), which are characterized by their reduced carbon dioxide emissions. This Saudi deal with China will contribute to providing more flights and reducing travel times by up to 90%, including to long-distance tourist destinations. It will also offer effective transportation solutions in areas congested with pilgrims, travelers, and traffic jams. Furthermore, this Saudi-Chinese agreement will contribute to reducing traffic congestion, saving time, expanding the range of premium services for VIP guests visiting Saudi Arabia, and providing a seamless and luxurious travel experience. This will also contribute to boosting tourism and business within the Kingdom.

 Saudi Arabia is relying on the air transport electrification deal with China as a practical path to decarbonizing this vital and important sector, which is currently characterized by high emissions and environmental damage. Currently, environmentally friendly and low-carbon-emission electric aircraft represent a very small percentage of the global aviation fleet. Saudi Solutions Company will collaborate with the Chinese company Vertaxi to develop local applications for these aircraft.  Electric vertical takeoff and landing (eVTOL) cargo services in Saudi Arabia, including low-level logistics, marine power transport, and security inspection.

 This Saudi deal with China comes at a time when China is accelerating its plans to strengthen its global digital presence. Tencent (the Chinese giant) is also simultaneously taking new steps in the Saudi market through cloud investments, in line with the goals of the Kingdom’s Vision 2030 for digital transformation. Dawson Tong, senior executive vice president of Tencent and CEO of its Cloud and Smart Industries Group, confirmed that “the new data center in the Saudi capital, Riyadh, represents a significant growth opportunity,” explaining that the Chinese partnership with Saudi Arabia is nearing completion of its final launch stages. He officially confirmed that “we already serve many Chinese companies that are increasing their investments in Saudi Arabia, and a number of our partners have lined up to benefit from the new data center in Riyadh, which allows us to expand not only within the Kingdom but throughout the entire region.”

  In this context, Saudi and Chinese companies signed 34 investment agreements on the sidelines of Chinese President Xi Jinping’s visit to Saudi Arabia in December 2022. These Saudi-Chinese agreements covered various sectors, including green energy and green hydrogen, solar photovoltaic energy, information technology, transportation and logistics, medical industries, housing, and construction, among others. Saudi Arabia’s Vision 2030 offers diverse investment opportunities in partnership with China across multiple sectors as part of the Saudi government’s efforts to diversify the economy away from crude oil, which is currently the Kingdom’s primary source of income.

 In the future industries sector, the Saudi Business Industries Company (Sahl Al-Aamal) signed a cooperation agreement with two Chinese companies: China New Energy and Eurasia. The aim is to establish a specialized electric vehicle manufacturing plant in Saudi Arabia, with investments totaling one billion Saudi riyals. This new Saudi-Chinese project also aims to support Saudi Arabia’s drive towards sustainable transportation, increase local content, and create quality job opportunities through partnership with Chinese companies.

 These Saudi steps towards partnership and cooperation with China come within the framework of the “Vision 100 strategy” to expand its international partnerships and enhance its ability to transfer advanced technologies and knowledge to the Saudi market, thus contributing to driving economic development and achieving sustainability.

  From the preceding analysis, we conclude that the Saudi-Chinese partnership, through the helicopter deal with the Chinese company Vertaxi and others, promotes environmentally friendly industrial innovation.  With the joint Saudi-Chinese effort to strengthen partnership in artificial intelligence and petrochemicals to develop sustainable and environmentally friendly technologies, Saudi Arabia has affirmed its readiness to welcome Chinese investments through the development of industrial cities, aiming to increase the number of its factories to more than 26,000 by 2030 through cooperation with China.

ESPN is shifting its strategy on online sports gambling, ending its partnership with Penn Entertainment.

The companies announced Thursday they were terminating an agreement that offered ESPN equity in Penn, which operated the ESPN Bet sportsbook app. The app will no longer carry the familiar red ESPN logo. It will operate under a new name.

ESPN said it will partner with DraftKings, a leading sports betting company, which will provide odds and other gaming-related data for the Walt Disney Co. unit’s programs and its digital platforms. ESPN’s on-air staff will use DraftKings’ odds starting Dec. 1.

According to people familiar with the ESPN-Penn arrangement, the app simply didn’t reach its financial targets in the highly competitive business, which operates in the 31 states where online gambling is legal.

In 2023, Penn agreed to pay $1.5 billion in cash over the next 10 years for the rights to use the ESPN name on its app. As part of the deal, ESPN promoted the product across its programming and provided access to on-air talent. ESPN had the right to purchase up to 31.8 million shares of Penn stock for $500 million over the 10-year period.

“When we first announced our partnership with ESPN, both sides made it clear that we expected to compete for a podium position in the space,” said Jay Snowden, CEO and President of Penn Entertainment. “Although we made significant progress in improving our product offering and building a cohesive ecosystem with ESPN, we have mutually and amicably agreed to wind down our collaboration.”

The end of the deal comes shortly after an FBI investigation led to the arrest of Miami Heat player Terry Rozier, who allegedly pulled out of a game claiming injury to deliver a win on one of his prop bets.

ESPN’s decision is unrelated to the recent news, as the company has been in talks for months with DraftKings about a new partnership. But no longer having the ESPN name on a betting app will keep the brand out of the line of fire if the NBA case escalates.

Beginning in December, DraftKings will have its app exclusively integrated across ESPN’s platforms.

The companies said they will “collaborate to advance their shared commitment to responsible gaming, by dedicating prominent assets to educate, raise customer awareness and promote responsible play through campaigns and integrations.”

DraftKings will provide the betting tab within the ESPN app and its customers will receive special promotions for ESPN’s newly launched direct-to-consumer streaming product.

DraftKings operates in 28 states and in Washington, D.C., and Ontario, Canada, and has more than 10 million customers across its products.

Over the last two decades, the Horn of Africa has witnessed an increase of foreigntroops in Djibouti, a rise in investments along the Red Sea, and more pronounced engagement in its internal affairs by confirmed and emerging powers all of which showcase the geopolitical appetite for influence in the region. Yet current crises – the war in Sudan, persisting insecurity in Somalia, renewed tensions between Ethiopia and Eritrea, and contentious relations between countries – underscore an uncertain future that could make the volatile region even more prone to external influence. Will local leadership step up to the task of preserving stability through improved regional relations or leave its most pressing issues unresolved?

An analysis by Mvemba Phezo Dizolele, Mwachofi Singo, and Hallelujah Wondimu published earlier this year by the Center for Strategic and International Studies provides key insights on the risk posed by the absence of a clear pillar state(s) to push for peace and security within the region which could worsen its vulnerability to competing middle powers.

The three experts on African geopolitics argue that given its history of conflicts and ongoing tensions, the region demands the rise of Ethiopia and Kenya as stronger leaders able to drive reform initiatives aimed at protecting the interests of the Horn of Africa. As such, the two nations offer strong, suitable and strategic advantages for the region despite facing their own internal and regional challenges which they must also attend to.

The CSIS report view Ethiopia’s role as central to transforming the region towards a stable and self-sufficient neighborhood capable of addressing its own tensions, preserving peace and promoting economic development. Whether Ethiopia intends to assume this role, however, rests on the success of its current transition that began since Prime Minister Abiy Ahmed took power in 2018 following decades of Tigray dominance over the country. Yet the envisioned reinforcement of the federal structure led by a strong central government has had setbacks in the last few years with the occurrence of the violent war in Tigray and ongoing security concerns over autonomy seeking movements.

This suggests that Ethiopia will inevitably have significant nation building to do to preserve the unity of the country hence the recent inward focus to stabilize domestic tensions. The achievement of the Renaissance Dam stands as good symbol of national harmony that could be replicated across other sectors of society to reinforce inclusion and equity. This image of improved and steady stability in Ethiopia is crucial to consolidate its leadership position in the region.

According to the researchers, Ethiopia’s (re)emergence as a leader in the Horn is also closely linked to its capacity to improve its relations with neighbors which have deteriorated the last few years. They cite the territorial dispute with Sudan, the sudden outreach to Somaliland irritating Somalia and Djibouti or one could add renewed animosity with Eritrea. Ironically, these frictions could lead to Ethiopia’s further rapprochement with external emerging actors eager to increase their influence in the region that will further complicate regional cooperation imperative for stability. This signals a pressing need for the country to reset its relations with its neighbors as the current trajectory could end up being an obstacle towards its economic development. Again, the Grand Renaissance Dam which is already a major component of Ethiopia’s trade policy in the region could be the catalyst needed to reinvigorate diplomatic ties.

While Ethiopia remains focused on its introspection and on pursuing a more bilateral approach to regional diplomacy, Kenya could seize the opportunity to accentuate its leadership position and diplomatic consistency. Kenya’s relatively peaceful independence transition and constant display of neutrality when engaging mediation processes forged its image as a credible leader for the region. The report also highlights a long history of proactive foreign policy by successive Kenyan presidents which emphasized economic development through regional trade integration. However, Kenya’s recent actions with regards to the Sudan conflict and the war in the DRC might alter its reputation and ability to conduct peace initiatives in the region while similar moves may instead translate an incoherent foreign strategy.

Nevertheless, it would be hard to imagine Kenya further jeopardize its stabilizing role as the country’s own development ambitions largely rests on its capacity to promote regional stability crucial to economic trade with its neighbors. This underscores the need for Nairobi to remain committed to its traditional diplomatic playbook to support impartial interventions while preserving its leverage and reputation throughout such processes.

In addition, Kenyan legacy could be further undermined by internal challenges in light of the gen z movement which may be a decisive political factor ahead of the 2027 elections. Latest developments in Morrocco or Madagascar could give a glimpse of the consequences of such social efforts in Kenya. Whether or not Kenyan youth are able to shake the government, political leaders should implement policies responding to the youth socioeconomic concerns as prolong unrests could diminish its global influence capacity so dear to the current administration.

In a rapidly shifting world order where middle powers are keen on exerting their own vision in the Horn of Africa, it becomes imperative for local leadership to assert regional autonomy to solve issues. Stability and improved inter-state relations should then discourage governments from seeking external support when pursuing domestic interests.

Kenya and Ethiopia both retain significant assets to affirm their influence in the Horn despite their own challenges. However, their capacity to assume an independent leading position might be more uncertain. The almost complete monopolization of the conflict resolution processes in Sudan or the DRC by the United States and the Gulf States clearly reveals the consequences of weak regional leadership. Kenya and Ethiopia could instead harmonize their regional policies through platforms such as the East African Community and the Intergovernmental Authority on Development. Ultimately, Kenya and Ethiopia’s ability to intensify their strategic partnerships could lay the foundation for regional autonomy and stability.  

Relations between Egypt and China have proven their ability to keep pace with international and regional transformations. China is one of Egypt’s major trading partners, with annual trade volume exceeding billions of dollars. Recent years have witnessed an increase in Chinese investments in Egypt, particularly in the fields of infrastructure, industry, and energy, with a focus on mega-projects such as the New Administrative Capital and the Economic and Trade Cooperation Zone in the Suez Canal Corridor, among others. The two countries also pursue compatible policies in terms of working for peace throughout the world and advocating for the establishment of a multipolar system.

  We find that Chinese investments in Egypt play a significant role in many areas, most notably technology transfer to Egypt, particularly in sectors where China excels, such as renewable energy, the electric car industry, and all types of appliances. Chinese investments in Egypt also provide significant job opportunities and help Egypt implement its import substitution strategy by producing more products that help reduce Egypt’s import bill with Chinese assistance and support. As of May 2025, the number of Chinese companies operating in Egypt reached approximately 2,800, with total investments exceeding $8 billion. These Chinese investments are characterized by their diversity and geographical spread in Egypt, from the Suez Canal to the New Administrative Capital.  Cooperation between Egypt and China has extended to the fields of technology and artificial intelligence, with Chinese companies present in the Egyptian market, such as Huawei, Xiaomi, and ZTE. A $300 million investment fund has been established with the Tsinghua University of Artificial Intelligence and Semiconductor Technology, in addition to fiber optics and outsourcing projects.

Chinese projects contribute significantly to Egypt’s domestic growth by attracting billions of dollars in Chinese investments in various sectors, such as industry, construction, and infrastructure, along with technology transfer and industrial localization. Chinese companies in Egypt are also working to establish industrial complexes and develop mega projects, such as the iconic tower in the New Administrative Capital, and establish industrial zones in the Suez Canal and Ain Sokhna regions, contributing to job creation and added value for the Egyptian economy. Chinese development projects also contribute to the development of energy and electricity infrastructure, the training of Egyptian personnel, and the export of products to African and European markets. The win-win principle that governs the Chinese model of international dealings is a principle that suits Egypt, its leadership, and its people.

 The most prominent contributions of Chinese projects to Egypt’s domestic growth are attracting Chinese investments to Egypt, which amount to billions of dollars. China also contributes to localizing industries and transferring technology to Egypt, where technology and knowledge are transferred from China to Egypt, in addition to establishing Chinese factories to produce various products, such as automobiles, steel, textiles, and others. China also plays a significant role in developing Egypt’s infrastructure, with Chinese companies contributing to the construction of major infrastructure projects, such as the development of power plants and the expansion of their distribution networks, as well as the construction of modern roads and towers. Chinese projects in Cairo thus create job opportunities and provide significant export opportunities, as these Chinese projects provide thousands of job opportunities for Egyptian workers. Egypt is a strategic gateway for China to export its products to Africa and Europe, thanks to its distinguished strategic geographic location. In addition, China plays a significant role in developing Egypt’s economic sectors, as these Chinese projects focus on vital sectors such as industry, construction, tourism, advanced technology, and manufacturing, which supports overall economic growth in Egypt.  This enhances Egypt’s benefits from China’s Belt and Road Initiative, as Egypt’s accession to the Belt and Road Initiative enhances economic cooperation with China and facilitates the flow of Chinese investments into Egypt.

Chinese investments in Egypt received a significant boost under President “Abdel Fattah El-Sisi”. Egypt became an active member of China’s Belt and Road Initiative, and Egypt joined the BRICS bloc and the New Development Bank. Chinese projects have subsequently become important, yielding positive returns and impacting Egyptian citizens. The most prominent of these are major Chinese projects in Cairo, such as the financial and business district in the New Administrative Capital, the electric train, renewable energy projects, and textile factories, among others. These are all Chinese projects that Egyptian citizens are already aware of and following. These Chinese investments in Egypt create new job opportunities and open the door for Chinese products to enter African and Arab markets, benefiting both sides.

 Egyptian-Chinese cooperation is an ideal model for cooperation between the Global South, and Southern issues have been a major focus of the political leadership of both Egypt and China. Chinese and Egyptian Presidents Xi Jinping and Abdel Fattah El-Sisi have repeatedly emphasized the importance of solidarity among the countries of the South to confront common challenges. Egypt’s accession to the BRICS grouping, and previously to the Shanghai Cooperation Organization, as a partner country reflects its commitment to expressing the views of the countries of the South and promoting their interests. Meanwhile, China has presented its own vision on the issues of the South, evident in the numerous initiatives and ideas it has put forward, including the Belt and Road Initiative, the Global Development Initiative, and Global Governance, all of which are closely linked to the development goals of the countries of the South. This is also reflected in the vision of Chinese President Xi Jinping for “building a community with a shared future for humanity.”

 China’s cooperation with Egypt reflects a new Chinese vision for South-South cooperation, based on equality and non-interference. It reflects Beijing’s commitment to advancing cooperation toward strategic horizons that transcend traditional interests and build alliances capable of influencing the future of the international system. Egypt’s strong support and backing of President “Abdel Fattah El-Sisi” for the Global Governance Initiative launched by Chinese President “Xi Jinping” in early September 2025, with the aim of enhancing joint global cooperation to increase capacity to address common challenges and narrow the development gap between the countries of the North and the South, complements China’s and Egypt’s categorical rejection of the (Cold War mentality, protectionism, unipolarity, and hegemonic policies) pursued by the United States toward the world. 

 China’s massive military parade marking the 80th anniversary of the end of World War II demonstrated Egypt’s strong support for China’s strength and its determination to maintain peace and development in the world. The 2025 Shanghai Cooperation Organization (SCO) Summit, held in Tianjin, China, also highlighted the strong political will of China and its ruling Communist Party to contribute to reforming and improving the global governance system. The Tianjin Summit is the largest, most fruitful, and most successful summit in the history of the SCO to date. Through it, China and President “Xi Jinping” championed the principles of global governance, adhering to mutual benefit and win-win outcomes, openness and inclusiveness, justice and fairness, and pragmatism and efficiency in order to achieve justice and advance policies of cooperation among developing countries of the Global South in the face of American and Western hegemonic policies. 

 This year marks the 80th anniversary of the founding of the United Nations, a matter of particular interest to political circles in Egypt and China, as they play an increasing role in maintaining world peace and promoting international justice. In this context, Egypt and China have achieved fruitful results in comprehensive cooperation and advancing cooperation within the developing global South. Currently, the Egyptian and Chinese sides are working jointly to advance and ensure the success of China’s Global Governance Initiative, which will deliver tangible benefits to the two peoples and to the peoples of the region. This will make Sino-Egyptian relations a model for building a “community of shared destiny, mutual benefit, and shared prosperity,” in accordance with the vision of Chinese President Xi Jinping.

   Accordingly, we understand that the Chinese partnership with Egypt embodies the principles of global governance. The convergence between China’s Belt and Road Initiative and Egypt’s Vision 2030 enhances opportunities for development cooperation between the two parties and confirms the two countries’ commitment to dialogue and consultation and the rejection of hegemony and interference, in line with the principles of global governance. This, in particular, reinforces the principle of the rule of international law within the United Nations and in all international forums in order to support developing countries of the Global South, far removed from the policies of exclusion, hegemony, and the Cold War mentality that Washington currently pursues in its dealings with the world.