Brexit: Theresa May's deal is voted down in historic Commons defeat

Brexit: Theresa May's deal is voted down in historic Commons defeat

LONDON, JAN 16 - Prime Minister Theresa May's Brexit deal has been rejected by 230 votes - the largest defeat for a sitting government in history.

MPs voted by 432 votes to 202 to reject the deal, which sets out the terms of Britain's exit from the EU on 29 March.

Labour leader Jeremy Corbyn has now tabled a vote of no confidence in the government, which could trigger a general election.

The confidence vote is expected to be held at about 1900 GMT on Wednesday.

The defeat is a huge blow for Mrs May, who has spent more than two years hammering out a deal with the EU.

The plan was aimed at bringing about an orderly departure from the EU on 29 March, and setting up a 21-month transition period to negotiate a free trade deal.

The UK is still on course to leave on 29 March but the defeat throws the manner of that departure - and the timing of it - into further doubt.

MPs who want either a further referendum, a softer version of the Brexit proposed by Mrs May, to stop Brexit altogether or to leave without a deal, will ramp up their efforts to get what they want, as a weakened PM offered to listen to their arguments.

Laura Kuenssberg: May's nightmare

History was made tonight with the scale of this defeat - a higher figure than the wildest of numbers that were gossiped about before the vote.

But the prime minister's dilemma is a more serious version of the same it's always been.

She has no majority of her own in Parliament to make her middle way through stick. 

And her many critics don't agree on the direction she should take - a more dramatic break with the EU, or a tighter, softer version.

Those two fundamental and clashing positions have always threatened to pull her and the government apart.

The Brexit debate has cut across traditional party lines.

Some 118 Conservative MPs - from both the Leave and Remain wings of her party - voted with the opposition parties against Mrs May's deal.

And three Labour MPs supported the prime minister's deal: Ian Austin (Dudley North), Kevin Barron (Rother Valley) and John Mann (Bassetlaw).

The most controversial sticking point was the issue of the Northern Irish backstop - the fallback plan to avoid any return to physical border checks between the country and Ireland.

Mrs May had hoped new assurances from EU leaders this week, saying the backstop would be temporary and, if triggered, would last for "the shortest possible period", would help her garner more support.

But in the debate leading up to the vote, members from all sides of the House said the move did not go far enough.

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Saudi, Pakistan Trade Mission begins in Jeddah

Saudi, Pakistan Trade Mission begins in Jeddah

JEDDAH, JAN 15 - In line with the Saudi-Pakistani business and economic relations, the Saudi-Pakistani trade mission has started in Jeddah on Sunday.

30 Pakistani and 86 Saudi food and building material companies met to discuss and explore opportunities to export Saudi products to Pakistan. 

This trade mission is organized by Saudi Export Development Authority “Saudi Exports”.

The Pakistani delegation, upon his arrival in Jeddah on Saturday, had a meeting with His Excellency the Deputy Minister of Energy, Industry and Mineral Resources Eng. Abdul Aziz Al-Abdulkarim and the Secretary General of Saudi Export Development Authority Eng. Saleh Al-Solami. 

The two sides discussed aspects of joint cooperation and ways to enhance trade and economic relations between the two countries. 

Then, a dinner was held in the presence of His Excellency with the Pakistani delegation, concluding with taking memorial photographs.

The Trade mission ceremony started on Sunday, with a speech from Eng. Saleh Al-Solami welcoming Pakistani brothers in their second country, saying: “I am pleased to welcome you to this special meeting, which reflects the strategy of enhancing economic and trade relations and investment cooperation between Saudi Arabia and the Islamic Republic of Pakistan. 

It also highlights the strong relationship between the two countries, As the leaders in both countries are keen to consolidate this relationship for the benefits of both countries and people”

“In addition to our relations with our brothers in Pakistan, this participation of Saudi Arabia represented by “Saudi Exports”, opens many export opportunities. 

Which emphasizes the strength of trade relations and keenness to increase economic cooperation between the two countries. 

I would like to thank you for attending and hope that our efforts will succeed in achieving the aspirations of both countries” said Al-Solami.

Then, the Deputy Chairman of Jeddah Chamber Eng. Ziad Al Bassam welcomed the Pakistani delegation and praised the trade mission which will lead to various investment opportunities.

Afterwards, the Pakistani Commercial Consul in Saudi Arabia, Mr. Shahzad Khan, delivered a speech in which he referred to the depth of the Saudi-Pakistani relations and the contribution of this trade mission in enhancing trade exchange, activating partnership and encouraging mutual investments between the two countries. 

Mr. Khan also praised the hospitality that the Pakistani delegation received, and thanked "Saudi Exports" for their efforts and organizations for the cooperation between both countries.

Business matching meetings between Saudi exporters and potential buyers from Pakistan began after that. 

Meetings will continue until Monday (January 14th), which is an opportunity for companies to have many deals to develop their businesses.

This trade mission is an extension of the historical economic and trade relations between the two countries. 

The total non-oil exports from Saudi Arabia to Pakistan during the past five years has reached SR17 billion, with over SR191 million for food exports and more than SR365 million for building materials during the same period.

This trade mission reinforced “Saudi Exports” efforts to support local exporters and promote their products and services to expand in international markets, reflecting the Saudi 2030 vision and its objectives to increase non-oil exports from 16% to 50% of total GDP and diversify sources of income for the national economy.

It is worth mentioning that "Saudi Exports" invests all its capabilities to improve the efficiency of the export environment, overcome the obstacles that exporters may face, raise awareness about export practices, and develop human competencies in the field of export.

It is also working to raise the export readiness of the targeted enterprises through an assessment of the export readiness and consultation services to improve the export capacity of the target enterprises. 

"Saudi Exports" is also working to facilitate the creation of suitable opportunities and export markets suitable for enterprises by preparing the manuals of market access and market studies on demand. 

"Saudi Exports" contributes to the emergence of Saudi products to the target groups through participation in international exhibitions. 

"Saudi Exports" also provide a service to facilitate linking exporters with buyers and potential partners through trade missions and bilateral meetings on the sidelines of international exhibitions. 

The work of the "Saudi Exports" reflects the Kingdom’s vision 2030 and meets the aspirations of the wise leadership in order to diversify sources of income for the national economy.

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Ukraine embassy hosts Ukrainian Diaspora in Pakistan to celebrate winter festivities

Ukraine embassy hosts Ukrainian Diaspora in Pakistan to celebrate winter festivities

ISLAMABAD, -  The Embassy of Ukraine in Islamabad celebrated “Happy Malanka” and this event offered excellent opportunity of festivity to children, young and not very young participants.

Happy Malanka in the Embassy of Ukraine in Islamabad was celebrated in connection with New Year and Winter Season`s Festivities together with Ukrainian citizens and Pakistani alumni of Ukrainian Universities.

Children had several games to show their creativity while parents had opportunity to tell their children that they have a young child still alive inside them.

What is Happy Malanka?

Malanka (Ukrainian: Маланка) is a Ukrainian folk holiday to be celebrated on 13 January, which is New Year’s Eve in accordance with the Julian calendar.

The Ukrainian New Year obtained the name Malanka from a Christianized folk tale of pagan origin, as collected and published by a Ukrainian ethnologist.

According to available information, the story is based on the creator god Praboh, and his four sons and one daughter. One of his sons was the Devil, the second son was St. George (Yar-Yarylo), the third St. John (Rai), and the fourth was Lad or Myr (Peace).

Ukraine embassy hosts Ukrainian Diaspora in Pakistan to celebrate winter festivities

The one daughter is an earth goddess named Lada, who had two children: a son called the Moon and a daughter “Spring-May”, later referred to as Mylanka because she was loving (мила).

As mother Earth, she was responsible for the blooming of flowers and the greenery of spring. In a version of the myth of Hades and Persephone, Mylanka’s evil uncle (the Devil) desired her presence in the underworld and abducted her one-day when the Moon was hunting.

While she was gone, the Earth was left without spring and once she was released from the vices of the Devil, flowers began to bloom and greenery spread around the world.

In simple words, Malanka is celebration of beginning of Spring and change of weather from worse to normal.

In Indo-Pak subcontinent, this event is also celebrated but with different mythological background and this is called Basant Bahar. Throwing wheat to doorstep is also an important ingredient of celebration of Basant Bahar in Indo-Pak celebration, particularly in Punjabi traditions.

How do Ukrainians celebrate Happy Malanka?

Therefore, Ukrainians celebrate Malanka to symbolize the onset of spring and they dress in traditional Ukrainian clothing and holding props such as the star and go door to door to their neighbours, nearest friends and family.

This is called a Koliada, which starts on 6 January, Christmas Eve (Sviaty Vechir) and ends on 19 January.

Ukraine embassy hosts Ukrainian Diaspora in Pakistan to celebrate winter festivities

Traditionally, the first thing to do when you are invited into the family’s house is to have the eldest male throw wheat grains around the entrance, which gifts the family with happiness, health, love, luck and more. 

As the male is throwing the wheat grain, he is saying a verse (вірш).

Once this is completed, the rest of the carolers join in. Each person sends wishes to the family through these verses, they perform little skits and in between each of these, they sing traditional Ukrainian carols (Kolyadka).

The Embassy of Ukraine in Islamabad is actively celebrates different traditional festivities in embassy to promote Ukrainian culture and invite Ukrainian families living in and around Islamabad.

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USUF’s travel to Ukraine Initiative at NYT Travel Show 2019

USUF’s travel to Ukraine Initiative at NYT Travel Show 2019

KIEV,  - For the third year in a row, the U.S.-Ukraine Foundation (USUF) will be promoting Ukraine as an attractive travel destination through its participation in the New York Times Travel Show, January 25-27, 2019.  

The exhibition, now in its 16th year, is considered the largest and most prestigious gathering of its kind, with a record 32,000 visitors in 2018.

The featured participants of USUF’s Travel to Ukraine booth (#478) are Vacanture Ukraine travel agency and the Agency of Regional Development of Ivano-Frankivsk Oblast, the latter of which is highlighting tourism opportunities in the Carpathian Mountains. 

Ukraine, with its rich history, beautiful architecture, vibrant culture and hipster restaurant and pub scene, continues to draw accolades as a largely undiscovered “must see” travel destination in Europe.

Please do stop by our Travel to Ukraine booth and talk to our experts about why Kyiv, Lviv, Odesa, Ivano-Frankivsk and other Ukrainian cities have become a magnet for hundreds of thousands of foreign tourists annually.

The New York Times Travel Show will be held at the Jacob Javits Center in New York City.  For exhibit times and ticket information visit the exhibition’s website.

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UNGA President Maria Fernanda Espionosa to visit Pakistan on Jan 18

UNGA President Maria Fernanda Espionosa to visit Pakistan on Jan 18

ISLAMABAD, JAN 14 - At the invitation of the Government of Pakistan, President of the UN General Assembly, Maria Fernanda Espionosa, will arrive in Islamabad on 18-22 January 2019.

This visit to Pakistan is the first to any country in the Asia-Pacific region by the President of the General Assembly (PGA), after her election.

Ms. Espionosa will call on the President and the Prime Minister. The Foreign Minister will hold a meeting with the visiting dignitary.

Apart from official engagements, the PGA will also meet members of the Women Parliamentary Caucus, Chairperson of the Benazir Income Support Programme (BISP) and visit Pakistan’s Peacekeeping Training Center. Ms. Espionosa will also address members of academia, think tanks and students.

This marks the second visit by the President of UN General Assembly since 2010.

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Azerbaijan embassy to organize seminar on independence

Azerbaijan embassy to organize seminar on independence

ISLAMABAD, JAN 14 - The Embassy of the Republic of Azerbaijan to Pakistan and IQRA University are organizing a Seminar titled “From Martyrdom to Independence” in Islamabad on January 17.

The Seminar will be held at IQRA University, Islamabad Campus from 15:00 to 16:30 hours.

The Vice President IQRA University Dr. Mohammad Islam will deliver the opening remarks followed by a short video on the topic.

The former Special Secretary of the Ministry of Foreign Affairs & Ex-Ambassador of Pakistan to Afghanistan, Kuwait and Nepal Syed Abrar Hussain, the Chancellors, Iqra National University Obaid Khan, and the Chairman Senate Standing committee and Convener of Pakistan-Azerbaijan Friendship Group in Senate Senator Talha Mahmood will also address the participants.

The Azerbaijan in embassy holds, on regular basis, such seminars and interactions in order to highlight various issues.The Azerbaijan in embassy holds, on regular basis, such seminars and interactions in order to highlight various issues.Besides, the embassy under the aegis of the Hyder Aliey Foundation, also carries out charity and humanitarian work in various parts of Pakistan.

Besides, the embassy under the aegis of the Hyder Aliey Foundation, also carries out charity and humanitarian work in various parts of Pakistan.

While Ambassador of Azerbaijan Ali Alizada will also deliver a speech on the occasion and highlight various aspects of the topic.

Likewise, the embassy every year dedicates full day with persons with disabilities besides distributing sacrificial meat among the needy on every Eid ul Adha.

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Jeremy Corbyn sets sights on downing street ahead of Brexit vote

Jeremy Corbyn sets sights on downing street ahead of Brexit vote

LONDON, JAN 13 - Jeremy Corbyn has set his sights on taking over Brexit negotiations, confirming he will call a no confidence vote to trigger a general election "soon" if Theresa May's current deal is rejected in parliament.

The Labour leader made the admission as Transport Secretary Chris Grayling denied there was a "void" in government over Brexit.

MPs are due to return to Westminster on Monday - a day before they will vote on whether to pass or reject the prime minister's divorce deal with Brussels.

Mr Corbyn was pressed to name a date for when he would table a no confidence vote but refused to.

He said: "We will table a motion of no confidence in the government at a time of our choosing, but it's going to be soon, don't worry about it."

Senior shadow cabinet ministers have also said it will come soon, with shadow justice secretary Richard Burgon told on Thursday it will be "a matter of days at the most".

Mr Corbyn also suggested he would extend Article 50 if a general election was called and he won the keys to Downing Street.

"Clearly there's only a few weeks between that and the leave date, there would have to be time for those negotiations," he said.

And he hinted at his opposition to another referendum, saying: "My own view is that I'd rather get a negotiated deal now, if we can, to stop the danger of a no-deal exit."

Mr Grayling tried to woo Conservative MPs to back Mrs May's deal, calling it a "sensible compromise".

He told "It's not giving everybody everything what they want, but it was never going to - this was a 52-48 result."

Asked if he had got everything he wanted, the Brexiteer admitted: "Of course not.

"The prime minister herself has said this is not the perfect deal.

"But if you offered me this deal back in 2016 at the time of the referendum and you'd have said instead of staying in the EU you can have this, I'd have said thank you very much."

Mr Grayling also talked down reports of calling in military chiefs to help plan for a no-deal divorce, but admitted some Ministry of Defence staff were being seconded.

He was given a chink of hope by Labour MP John Mann, who also told he was likely to side with the government on Tuesday.

"A day is long time in politics so things can change but as it stands it is likely I will vote for the deal, yes," he said.

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Pak business delegation holds productive meetings in Jeddah

Pak business delegation holds productive meetings in Jeddah

ISLAMABAD, JAN 13 – The high level business delegation is in Jeddah to explore various avenues of business cooperation.

Saudi Arabia and Pakistan enjoy excellent bilateral relations and with the visit of high level business  team from Pakistan, trade and business ties would surely get a considrabe boost.

On Sunday, the Pakistani delegation met with the deputy trade minister of Saudi Arabia. Malik Shahid Saleem the President of Rawalpindi Chamber of Commerce and Industry led he delegation.

Both sides discussed various ways and means to enhance and cement business ties between the two countries.

Pak business delegation holds productive meetings in Jeddah

Earlier, the Commercial Attaché of the Embassy of Saudi Arabia in Pakistan bid farewell to the delegation of Pakistani businessmen participating in the meetings of the Saudi-Pakistani trade mission being held in Jeddah under the auspices of the Saudi Export Development Authority.

Saudi Trade Attaché in Pakistan, Mohammad Ahmad Asiri and members of the office saw the delegation off.

A total of 65 Saudi companies and 35 Pakistani companies are interested in importing Saudi products in the food and building materials sectors.

The trade mission in Jeddah is scheduled to last for two days, 13 and 14 January 2019 and to discuss opportunities to enhance the quality of Saudi products in order to achieve greater openness to international markets and to allow local exporters to undertake many deals to develop their exports and open new markets for their products.

It may be mentioned here that Saudi Arabia had recently appointed a fully fledged trade and commercial attaché in Pakistan.

Ever since his appointed Ahmad Asiri has been engaged with various Pakistani business enterprises with a view to promoted trade and economic links between the two brotherly nations.

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Saudi energy minister's visit seeks to reinforce brotherly ties between Saudi Arabia, Pakistan

Saudi energy minister's visit seeks to reinforce brotherly ties between Saudi Arabia, Pakistan

GWADAR, JAN 12 - Saudi Arabia’s Minister of Energy and Industry, Khalid Al-Falih visited the Gwadar port on Saturday.

The dignified guest was welcomed on arrival in Pakistan by Petroleum Minister Ghulam Sarwar Khan, Minister of State for Port & Shipping Ali Zaidi and the Deputy Ambassador of the Custodian of the two Holy Mosques in the Islamic Republic of Pakistan, Habibullah Bukhari.

The aim of the visit is to reinforce the affiliation between both the brother countries, deliberating the definitive approaches of reconciliation memorandums for investment in the fields of refining, petrochemical, mining and renewable energy in Pakistan, to gain awareness on the prospects and plans existing in the Gwadar port, consider methods to increase exports between the two countries, encouraging the private sector investor in terms of investment and also making it easy for them to capitalize in Pakistan.

Soon as the Honorable Minister Khalid Al-Falih arrived, a meeting was held with the Minister of Petroleum and Minister for Port & Shipping to discuss likelihoods of economically supporting Pakistan in the arenas of energy, sanitation and mineral resources.

Hence, in order to reflect strong ties between the two countries, both parties reviewed possibilities of expanding exports amongst the two republics and the facilitating ways for Saudi investors in Pakistan too came under discussion.

Thereafter, the Dignitary visited Gwadar Port, where he received information regarding opportunities existing at the port. The VIP was also briefed by the port officials about future projects and the ongoing programs in Gwadar Port.

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Ivanka Trump among possible World Bank nominees: report

Ivanka Trump among possible World Bank nominees: report

WASHINGTON, JAN 12 - Former UN Ambassador Nikki Haley and US President Donald Trump’s daughter and adviser Ivanka are among possible US candidates to replace outgoing World Bank President Jim Yong Kim.

Kim abruptly announced Monday he was cutting short his tenure as the bank’s president more than three years before his second term was due to end.

In addition to Trump and Haley, who stepped down as US Ambassador to the United Nations last month, other names being floated include Treasury Undersecretary for International Affairs David Malpass and Mark Green, head of the US Agency for International Development.

Ivanka Trump in 2017 was the driving force behind a $1 billion, Saudi-supported World Bank fund to promote entrepreneurship by women.

The Treasury Department told on Friday that it had no comment in potential candidates.

The department has received a “significant number of recommendations,” a spokesperson said.

“We are beginning the internal review process for a US nominee. We look forward to working with the governors to select a new leader.”

Under an unwritten agreement, the United States, which is the bank’s largest shareholder, has always chosen its leader since the institution was founded following World War II.

But the success of a US candidate no longer appears completely assured.

Kim was the first American nominee to face a contested election for the World Bank presidency in 2012 and the bank’s board has said its selection process will be “open, merit-based and transparent,” implying non-US candidates would not be ruled out.

The World Bank Board said Thursday it would start accepting nominations for a new leader early next month and name a replacement for Kim by mid-April.

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Saudi Arabia eyes to expand co-op with Azerbaijan in investment & tourism

Saudi Arabia eyes to expand co-op with Azerbaijan in investment & tourism

BAKU,  JAN 11 - In recent years, trade and tourism relations of Azerbaijan with Gulf countries are growing rapidly.

The Saudi Travel and Tourism Association is developing a "road map" to provide assistance in attracting Arab tourists to Azerbaijan, Executive Director of the Association for Azerbaijan-Arab Countries' Cooperation (AACC) Yalchin Aliyev told.

He said that the "road map" is designed for five years. All aspects of the cooperation of the sides will be coordinated with the State Tourism Agency of Azerbaijan.

Aliyev added that Saudi Arabia will also attract tourists to Azerbaijan, and will ensure an annual increase in investment in the country at a level of at least five percent.

Speaking about plans to expand cooperation with Arab countries he emphasized that visits of Azerbaijani delegations to Qatar, Kuwait, Saudi Arabia and Jordan are planned this year.

“Last year, delegations from Jordan, Iraq, the United Arab Emirates and Qatar visited Azerbaijan. Similar meetings will be held this year. 

I believe that the exact dates of visits will be determined before the end of January.

In addition, it is planned to hold a large-scale event in Baku - the first Azerbaijani-Arab investment forum. This will be discussed soon in Beirut with the Union of Arab Chambers,” added Aliyev.

So far, Saudi Arabia's state-owned and private companies invested about $ 370 million in Azerbaijan's economy.

Expansion of cooperation with Saudi Arabia in the spheres of construction, infrastructure, energy, including renewables, agriculture and tourism is of great importance for Azerbaijan.

In December 2018, the delegation of Azerbaijani entrepreneurs, including 29 companies engaged in the production of building materials, textiles, canned products, juices, as well as travel agencies, visited Saudi Arabia to establish cooperation. 

Saudi Arabia has shown great interest in the Azerbaijani products, especially in food and agricultural ones.

According to the State Customs Committee of Azerbaijan, the trade turnover with Saudi Arabia for eleven months of 2018 amounted to $ 17.7 million.

Azerbaijan is among the fastest-growing destinations for tourists.

Azerbaijan is among the developing countries in the field of tourism, occupying the 39th place among 148 countries in terms of global competitiveness in tourism.

The beautiful nature of Azerbaijan, hospitality of its people, the country's capital with its super modern and ancient buildings draws the attention of all tourists visiting this South Caucasian country.

Simplification of visa regime also plays a major role in the development of tourism in Azerbaijan.

According to the State Statistics Committee of Azerbaijan, in January-November 2018, 2.63 million foreigners and stateless persons from 195 countries arrived in Azerbaijan, and Saudi citizens accounted for about 2.7 percent of those arriving in the country, while Russia accounted for the 31.1 percent of the arrivals, Georgia - 20.9 percent, Turkey - 10.1 percent, Iran - 8.6 percent, the UAE - 3.1 percent.

During the reported period, the greatest increase among those who arrived in Azerbaijan was observed among the citizens of the Gulf countries.

Compared to the same period of the previous year, the number of Saudi citizens who arrived in Azerbaijan increased by 2.2 times, Bahraini citizens - 2.1 times, Kuwaiti citizens - 1.9 times, Qataris - 1.6 times, Iraqis - 10.4 percent and Omani citizens by 8.5 percent.

Almost every fifth tourist, who arrived in Azerbaijan from the Gulf region, was a citizen of these countries.

Recently, an agreement was signed to launch official foreign tourism offices of Azerbaijan in six foreign countries, one of which will be established in Riyad of Saudi Arabia (Gulf Reps Ltd). Tourism offices aim to introduce Azerbaijan's tourism opportunities, conduct propaganda and campaigning.

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The Jeff Bezos divorce: $136 billion and Amazon in the middle

The Jeff Bezos divorce: $136 billion and Amazon in the middle

The announcement by Amazon founder Jeff Bezos, the world's wealthiest man, and his wife that they will divorce has captivated the imagination ─ how will they split his giant fortune, estimated at $136 billion? 

And what will happen to the Internet retail giant ─ will his soon-to-be ex get a significant stake, and how would that affect his control of the company?

The former MacKenzie Tuttle knew the 54-year-old Bezos before fame and wealth came calling.

The couple met in 1992 when he was a hedge fund manager on Wall Street, before he became an entrepreneur who changed the way hundreds of millions of people live. They married less than a year later.

She was by his side for the entire Amazon adventure, from the company's humble beginnings in his Seattle garage in 1994 to its mammoth success today.

They have four children ─ three sons and an adopted daughter ─ aged up to their late teens.

As of Wednesday, when the couple formally announced they would divorce after a long separation, the 48-year-old MacKenzie, a novelist, is likely to become the richest woman in the world.

the Bezoses did not have a prenuptial agreement -- which could mean an even split of assets.

They were married in Florida in September 1993, But their last place of residence would be the deciding factor in any divorce proceedings.

The couple has numerous residences: in Seattle, where Amazon is based, but also in Washington DC, Texas and Beverly Hills, California.

'Cherished friends'

According to Randall Kessler, a founding partner at Atlanta family law firm Kessler and Solomiany, the location will not matter so much.

"Some states have community property, some states have equitable division which means fair division, but even in those states, it usually comes out 50-50. That's the starting point," he said.

Bezos, who was once Amazon's primary stakeholder, now owns about 16 per cent of the company ─ the bulk of his net worth. At mid-day Thursday, that stake translated to about $130 billion.

Any divorce settlement would include his stock portfolio. If it were split in half, that would leave Bezos ─ who still runs the company ─ with an 8pc stake.

So far, that prospect has not frayed Wall Street, with Amazon shares even up slightly on the Nasdaq on Wednesday after the announcement, only to fall back on Thursday.

Hedge fund investor Doug Kass announced that he had sold off his shares after the divorce announcement ─ which had an upbeat tone, with the pair saying they remained "cherished friends".

Given they appear to be on good terms, they could decide to put their shares into a trust or other legal mechanism in order to maintain the same power among Amazon's shareholders.

MacKenzie could also opt to transfer her voting rights, should she earn half the stake in a settlement, according to Margaret Ryznar, a law professor at Indiana University-Purdue University Indianapolis (IUPUI).

'Protect the company'

"Voting rights may not be that important in this case because Jeff Bezos is currently a minority shareholder anyway," Ryznar says. "Much of his influence in Amazon comes instead from his position within the company as its founder and CEO."

For Kessler, "If they want to protect the company, they'll find a way to give her an interest in the company that doesn't affect the running of the company."

Of course, the couple may have a post-nuptial deal that will be revealed in the coming months.

They may also end up in an acrimonious divorce, which would surely cloud the prospects of Amazon, both on Wall Street and from a public relations perspective.

Bezos was in a relationship with the wife of powerful Hollywood talent agent Patrick Whitesell ─ former news anchor and entertainment reporter Lauren Sanchez.

The relationship, launched eight months ago, was the final nail in the coffin of the troubled the Bezos marriage, the tabloid said.

"Clients come to see me all the time and they always say that this is going to be uncontested ─ "We're both reasonable, we both agree that it should be fair'," Kessler says. 

"The problem sometimes is that people disagree on what fair is, or on what reasonable is. Right now they agree. I hope they continue to agree, but who knows what they might disagree on."

And any disagreement would be a field day for their attorneys. "If they disagree, that's where lawyers make money," Kessler said.

When asked about the Bezos divorce on Thursday, US President Donald Trump, himself twice divorced, said: "I wish him luck. It's going to be a beauty."