Qatar demands 'blockade' lifted before Gulf crisis talks

Agencies
June 20, 2017

Doha, Jun 20: Qatar's foreign minister today called on neighbouring states to lift their "blockade" of his country before Doha takes part in any negotiations on ending the Gulf diplomatic crisis.Qatar

Sheikh Mohammed bin Abdulrahman Al-Thani called measures to isolate Qatar imposed by Saudi Arabia, the United Arab Emirates, Bahrain and others "an act of aggression", adding that lifting them was a "pre-condition" for talks.

"We have to make it very clear for everyone, negotiations must be done in a civilised way and should have a solid basis and not under pressure or under blockade," the foreign minister told reporters in Doha.

"Qatar under blockade -- there is no negotiation. They have to lift the blockade."

On June 5, Saudi Arabia and allied states cut all ties with Qatar, pulling their ambassadors from the emirate and ordering its citizens to repatriate by June 19.

The measures also included closing Qatar's only land border, banning its planes from using their airspace and barring Qatari nationals from transiting through their airports.

Saudi Arabia, the UAE, Egypt, Bahrain and other states accuse Qatar of supporting and funding "terrorism" and of working with regional rival Iran, charges Doha firmly denies.

Sheikh Mohammed's demand came as a UAE minister warned that Qatar's diplomatic isolation could "last years".

"We do not want to escalate, we want to isolate," state minister for foreign affairs Anwar Gargash told journalists during a visit to Paris. "This isolation can take years."

The minister said that while Qatar's rivals were "betting on time", a solution could not be brokered until it abandoned its support for "extremist Islamists".

Sheikh Mohammed said that Qatar had not received any demands from the Gulf states or from countries seeking a diplomatic solution, including Kuwait, the United States, France and Britain.

"Why they didn't submit their demands yet? For us, there is no clear answer for this," he said.

"But what we have seen until now, there is no solid ground for these demands, that's why they didn't submit their demands yet."

The foreign minister added that the economic impact on Qatar had so far proved minimal but added: "We are not claiming we are living in a perfect condition."

The Gulf political crisis has also affected countries outside the region.

"France, UK or the United States -- they are strong allies of Qatar and we have a great deal of cooperation together in terms of military, defence, security, economically," said Sheikh Mohammed.

"So a blockade on Qatar and measures being taken against Qatar in this way is affecting the interests of those countries as well, directly."

Comments

Truth teller
 - 
Tuesday, 20 Jun 2017

you say "you can't negotiate until blockade is lifted, Really! but other gulf sates say there is no negotiation with Terrorists or their supporters until you stop it.

The reality is you have been given earlier warning years back when they cut only diplomatic ties with you by calling the ambassador back.you did not know why was it for?

secondly, you have broken the covenant you made with other states. and acting as if you know nothing. first stop funding and supporting terrorist groups and stop meddling with other nations internal affair. and stop your double face attitude with iran and gulf. be straight forward be brave! not coward.

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Agencies
June 18,2020

New Delhi, Jun 18: Reliance Industries Ltd on Thursday said it has sold a 2.32 per cent stake in its digital unit to Saudi Arabia's Public Investment Fund (PIF) for Rs 11,367 crore, taking the cumulative fund raising to about Rs 1.16 lakh crore in two months.

Starting with Facebook Inc on April 22, Reliance has sold almost 25 per cent of equity in Jio Platforms - the maximum reports suggest the company intends to dilute to financial investors.

The investment by Saudi sovereign wealth fund is "at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore", the company said in a statement.

With this investment, Jio Platforms has raised Rs 115,693.95 crore from some of the leading global investment powerhouses at a time when the world is deeply impacted by the coronavirus pandemic, resulting in a recession kind of environment for the global economy.

"With the addition of PIF's investment, Jio Platforms has established partnerships with a marquee set of global financial investors, who will contribute to establishing the Digital Society vision for India," the statement said.

Jio Platforms houses India's biggest telecom firm by subscribers, Reliance Jio. With more than 388 million users, Jio has forced out several rivals and driven consolidation in the sector since entering the market in 2016 with free voice services and cut-price data.

Over the past two months, billionaire Mukesh Ambani's oil-to-telecom conglomerate has announced the sale of about $14 billion of assets, completed a Rs 53,124 crore rights issue and slowed the run rate of new investment by a quarter.

These will help Reliance meet its target of paying off Rs 1.61 lakh crore of net debt by the end of the year.
This is PIF's largest investment into the Indian economy to date.

Ambani, chairman and managing director of Reliance Industries, said, "We at Reliance have enjoyed a long and fruitful relationship with the Kingdom of Saudi Arabia for many decades. From oil economy, this relationship is now moving to strengthen India's New oil (data-driven) economy, as is evident from PIF's investment into Jio Platforms."

Yasir Al-Rumayyan, governor of PIF, commented: "We are delighted to be investing in an innovative business which is at the forefront of the transformation of the technology sector in India. We believe that the potential of the Indian digital economy is very exciting and that Jio Platforms provides us with an excellent opportunity to gain access to that growth."

"This investment will also enable us to generate significant long-term commercial returns for the benefit of Saudi Arabia's economy and our country's citizens, in line with our mandate to safeguard and grow the national wealth of the Kingdom," he said.

The transaction is subject to Indian regulatory and other customary approvals.

Morgan Stanley acted as financial advisor to Reliance Industries and AZB & Partners and Davis Polk & Wardwell acted as legal counsels.

Prior to this deal, Reliance had sold 22.38 per cent of Jio Platforms to investors including Facebook Inc, securing Rs 104,326.95 crore in eight weeks.

Facebook kicked off the party, investing Rs 43,573.62 crore for a 9.99 per cent stake on April 22. This was closely followed by a further Rs 60,753.33 crore in investment.

Silver Lake - the world's largest tech investor - bought a 1.15 per cent stake in Jio Platforms for Rs 5,665.75 crore on May 4. It invested another Rs 4,546.80 crore for additional 0.93 per cent stake on June 5, taking its total holding to 2.08 per cent
Private equity KKR and Vista Equity Partners have taken 2.32 per cent stake each for Rs 11,367 crore apiece. KKR invested in Jio Platforms on May 22 while Vista invested on May 8.

Abu Dhabi sovereign wealth fund Mubadala Investment Co picked up 1.85 per cent in Jio Platforms for Rs 9,093.60 crore on June 5. Abu Dhabi Investment Authority on June 7 invested Rs 5,683.50 crore for a 1.16 per cent stake in Jio Platforms.

On May 17, global equity firm General Atlantic picked up 1.34 per cent stake in Jio Platforms for Rs 6,598.38 crore.

Global investment firm TPG on June 13 picked up 0.93 per cent for Rs 4,546.80 crore while L Catterton bought 0.39 per cent for Rs 1,894.50 crore.

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News Network
May 4,2020

Dubai, May 4: An Indian salesman in the UAE has won a whopping 10 million dirhams at an Abu Dhabi draw, a media report said.

Dileep Kumar Ellikkottil Parameswaran, from Kerala’s Thrissur, works with an auto spare parts company in Ajman and earns 5,000 dirhams (USD 1,361) a month, Gulf News reported on Sunday.

Parameswaran, who won the 10 million dirhams (USD 2.7 million) prize at the Big Ticket draw in Abu Dhabi, will spend a big part of the money to repay a loan of 700,000 dirhams (USD 190,574 ), according to the report.

He said that a good part of the prize money will be spent on the education of his two children.

Parameswaran, who has been a resident of the UAE for 17 years, lives in Ajman along with his family.

Big Ticket is the largest and longest-running monthly raffle draw for cash prizes and dream luxury cars in Abu Dhabi.

A live monthly draw is organized at the Abu Dhabi International Airport on 3rd of each month.

Tickets are sold for 500 dirhams (USD 136).

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Agencies
May 14,2020

Dubai, May 14: As many as 242 beggars of different nationalities have been nabbed by the Dubai Police since the beginning of the holy month of Ramadan.

Among those arrested, 143 were men, 21 were women and 78 were hawkers, said the police. "An anti-begging campaign was launched, especially to find beggar hotspots, to combat the negative phenomenon," said Colonel Ali Salem Al Shamsi, director of the anti-infiltrators department at the Dubai Police.

"Strict warnings have been issued to beggars to refrain from exploiting the sentiments of people during Ramadan," he added.

Col Al Shamsi also called on the public to stop helping them with money. "The public must direct those in dire straits through proper channels in order to get support from charitable institutions."

Col Al Shamsi also urged residents to report begging activities by calling 901 or through the Dubai Police app's 'Police Eye' feature.

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