Hands off Arab Affairs: GCC slams Iran for politicizing Haj

September 20, 2016

Riyadh, Sep 20: Foreign ministers of the six-nation Gulf Cooperation Council (GCC) slammed Iran’s plots to politicize Haj, and called on Tehran to refrain from meddling in the affairs of the Arab countries.

Haj

The GCC foreign minister strongly advised “Iran to abide by the principles of good neighborliness, stop inciting sectarian strife and respect sovereignty of the Arab nations.”

The foreign ministers, who met on the sidelines of the 71st session of the UN General Assembly in New York, strongly rejected Iran’s deliberate interference in the internal affairs of other countries and its attempt to stir sectarian divisions among its own people. The GCC ministerial council meeting was chaired by Foreign Minister Adel Al-Jubeir.

The GCC ministers, who strongly commended the efforts of Custodian of the Two Holy Mosques King Salman for making elaborate Haj arrangements, also blamed the irresponsible Iranian regime, which deprived its own citizens from performing Haj this year. Iran unilaterally took its decision and barred its pilgrims from traveling to Makkah to take part in Haj after making false accusations against the Kingdom.

A communique issued after the GCC ministerial meeting outlined the importance of the “Saudi Vision 2030,” while mentioning a host of key regional issues; which are hampering all efforts for restoration of peace and security in the Middle East. The Vision 2030 is more relevant in the context of the theme of the general debate of UNGA session, which is “The Sustainable Development Goals: A Universal Push to Transform Our World.”

The general debate of the UNGA will open on Tuesday and run across Sept. 26. The UNGA hosted a high-level summit on Monday to address large movements of refugees and migrants, with the aim of bringing countries together behind a more humane and coordinated approach.

Referring to the subjects discussed and debated by the GCC foreign ministers at New York meeting, the statement said that the ministers expressed their deep concern over the US Congress’ adoption of the “Justice Against Sponsors of Terrorism Act,” which contradicts the established principles of international law, especially the equality of states in terms of sovereignty as stipulated by the UN Charter.

“The GCC ministers also stressed the firm position of GCC states in rejecting all forms of terrorism and extremism, and called for concerted efforts to combat terrorism financing,” according to the statement. The meeting reiterated GCC’s keenness on “restoring Syria’s unity, stability and territorial integrity.”

To this end, it is important to mention that US Secretary of State John Kerry on Monday called the week-old truce in Syria as “holding but fragile.”

Speaking Monday on the sidelines of the UN General Assembly, Kerry said some humanitarian assistance is moving but it is too soon to say, if it will meet the requirements of the cease-fire deal.

The truce took effect last Monday with the goal of creating a joint US-Russia military facility to coordinate airstrikes on the Daesh groups and Al-Qaeda affiliates. That was to be set up after seven days of reduced violence and sustained aid deliveries to Aleppo and other areas.

Referring to deteriorating situation in Yemen, the statement said: “The Arab coalition supporting the legitimacy in Yemen is the largest donor of humanitarian aid to that country.”

The GCC foreign ministers vowed to exert more efforts to achieve unity in Yemen and restore peace and security in that war-torn country.

The ministers also reiterated their support for unity and territorial integrity of Iraq. The ministers, who strongly condemned the assassination threats to the Saudi ambassador to Iraq, called on Baghdad to ensure protection of diplomats and diplomatic missions. The statement said that the GCC ministerial meeting also focused on Libya and Lebanon.

The GCC lent its support to Libya in the fight against the terrorist organizations. The meeting, on the other hand, called on various Lebanese factions to hold presidential elections to elect a new president. They also urged all influential groups in Lebanon to secure peace and stability on priority basis.

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News Network
March 31,2020

Mar 30: the UAE Cabinet approved a series of new initiatives, foremost among which was the automatic extension of residence permits expiring from March 1.

The residence visas would be extended for a renewable period of three months without any fees to ease the economic impact of the Covid-19 crisis on residents, official news agency WAM reported.

The Cabinet has also waived the administrative fines associated with infractions on the services provided by the Federal Authority of Identity and Citizenship, starting April 1 and lasting for a renewable period of three months.

The initiatives also entail granting a temporary license to use digital solutions for remotely notarising and completing judicial transactions.

Government services expiring from March 1 will also be extended from April 1 for a renewable period of three months. The decision applies to all federal government services, including documents, permits, licenses and commercial registers.

The UAE has introduced a slew of initiatives to control the spread of the Covid-19 virus, including the online renewal of driving licences and vehicle’s registration cards.

The country’s telecom regulator, Telecommunications Regulatory Authority (TRA), also issued a directive that no mobile service with expired ID documents will be disconnected or suspended in the UAE.

The UAE has reported a total of 611 Covid-19 infections and five related deaths in the country.

A national sterilisation programme is underway that will continue until Saturday April 4, concluding on the morning of Sunday, April 5.

Carried out daily from 8pm until 6am the following morning, the programme will include the disinfection of private and public facilities.

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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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Agencies
May 17,2020

Jerusalem, May 17: The Chinese ambassador to Israel was found dead in his home north of Tel Aviv on Sunday, Israel's Foreign Ministry said.

No cause of death was given and Israeli police said it was investigating.

Du Wei, 58, was appointed envoy in February in the midst of the coronavirus pandemic. He previously served as China's envoy to Ukraine.

He is survived by a wife and son, both of whom were not in Israel.

Israel enjoys good relations with China.

The ambassador's death comes just two days after he condemned comments by visiting U.S. Secretary of State Mike Pompeo, who denounced Chinese investments in Israel and accused China of hiding information about the coronavirus outbreak.

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