Israel removes more security installations from al-Aqsa

Al Jazeera
July 27, 2017

Jerusalem, Jul 27: Israel has removed more security installations from the entrance to the al-Aqsa Mosque compound in occupied East Jerusalem after protest and deadly unrest in recent days.

Newly installed railings, gates and scaffolding where cameras were previously mounted were removed from the entrance to the compound, known to Jews as the Temple Mount, reported Al Jazeera early on Thursday.

On Tuesday, Israel had removed metal detectors from the entrance, installed after an attack nearby that killed two policemen on July 14.

Palestinians began to gather at the entrance to celebrate in the early hours of Thursday, with whistling and constant horns from cars.

A Palestinan man in the crowds at the entrance told Al Jazeera that he was there to celebrate a signifcant "victory".

"Today is a joyful day, full of celebration and sorrow at the same time - sorrow for the people who lost their lives and were injured," he said.

"We are under occupation and the al-Aqsa Mosque is a red-line to everyone in Jerusalem - actually, to everyone in Palestine, and all over the Muslim world - but much more for the people of [Jerusalem]. It's dearer than their own lives," he told Al Jazeera.

Al Jazeera's Imran Khan, reporting from outside the compound in occupied East Jerusalem, said the crowds were celebrating what protesters feel is a "significant victory" that has gone beyond simply protesting against security measures.

"This is very much a grassroots movement - this isn't led by Hamas or Fatah, the traditional political leaders of the Palestinians," he said.

"This is an occupied East Jerusalem movement; it's effectively leaderless but it's growing and growing."

A tense standoff has been underway between Israel and Muslim worshippers at the holy site despite the removal of the metal detectors, with concerns of major unrest later this week if no resolution is found.

Muslims have refused to enter the site and have prayed in the streets outside for more than a week after Israel installed the new security measures there.

Palestinians view the move as Israel asserting further control over the site, which houses the revered al-Aqsa Mosque and the Dome of the Rock.

Israeli authorities said the metal detectors were needed because the July 14 attackers smuggled guns into the site and emerged from it to attack the officers.

Protests and deadly unrest have erupted in the days since the measures were installed, with violence breaking out around the compound in Jerusalem's Old City and in the occupied West Bank.

Hundreds of Palestinians were injured in the past two weeks in confrontations with Israeli forces. Most of the injuries inflicted by the Israeli forces were from rubber-coated steel bullets.

An Israeli settler killed 18-year-old Muhammad Mahmoud on July 21 Sharaf in the Ras al-Amud neighbourhood in occupied East Jerusalem.

A second Palestinian, 20-year-old Muhamad Hasan Abu Ghanam, was killed by live fire during the demonstrations in Jerusalem.

And Israeli forces killed a third victim, 17-year-old Muhamad Mahmoud Khalaf, in clashes in the West Bank.

A Palestinian also broke into a home in a Jewish settlement in the West Bank last week and stabbed four Israelis, killing three.

There have been concerns that Friday's main weekly Muslim prayers - which typically draw thousands to al-Aqsa Mosque - will lead to even more serious clashes between protesters and Israeli security forces.

It was not immediately clear whether Muslim authorities would now give their approval to re-enter the site.

Mohammed Nuseibeh, deputy chairman of the Waqf Higher Council, told Al Jazeera said they would not issue an official response until their own technicians had gone into the mosque compound and evaluated it.

Al Jazeera's Imran Khan said this has become a movement fighting against wider Israeli occupation.

"Even though the security measures have all been removed, these people say they will not go inside al-Aqsa Mosque, they want to remain outside, they want to get their voices heard," he said.

"For the first time in many years occupied East Jerusalem is in the headlines. These people have traditionally felt that none of the Palestinian representaives ever spoke for them."

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imran
 - 
Thursday, 27 Jul 2017

chor. he never speak truth. pajji pajji sullu

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News Network
May 5,2020

Abu Dhabi, May 5: The overall real GDP (gross domestic product) of the United Arab Emirates is estimated to have grown by 1.7 percent in 2019, the country’s central bank said in a statement on Monday carried by WAM.

"The UAE hydrocarbon sector is estimated to have exhibited a growth of 3.4 percent in 2019. However, non-oil activities advanced at a softer pace growing by 1.0 percent. As a result, overall real GDP is estimated by FCSA (Federal Competitiveness and Statistics Authority) to have grown by 1.7 percent in 2019," said the financial regulator in its Annual Report 2019.

"The spread of COVID-19 is expected to impact trade and supply chain movements, coupled with travel restrictions which paves way for high volatility in capital markets and commodity prices. While the outbreak is expected to negatively affect the global and domestic economies, it is still early to gauge the scale of the economic fallout," the report added.

The report noted that the higher hydrocarbon output, as well as growth in non-hydrocarbon economic activity, supported the pace of the country's overall economic growth in 2019.

"Meanwhile, the fading effect of VAT, the appreciating Dirham, lower energy prices and decline in rents pushed inflation in negative territory. However, the employment rate registered a steady rebound. Looking ahead, the economic outlook for 2020 remains uncertain owing to the COVID-19 outbreak," the report elaborated.

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News Network
January 12,2020

Dubai, Jan 12: Saudi Arabian oil giant Aramco announced Sunday that its initial public offering raised a record $29.4 billion, a figure higher than previously announced, after the company used a so-called "greenshoe option" to sell millions more shares to meet investor demand.

The company said that the sale of an additional 450 million shares took place during the initial public offering process.

The oil and gas company, which is majority owned by the state, began publicly trading on the local Saudi Tadawul exchange on December 11. It hit hit upwards of $10 a share on the second day of trading. This gave Aramco a market capitalization of $2 trillion, making it comfortably the world's most valuable company.

Aramco's additional sales mean the company has publicly floated 1.7% of its shares. It's IPO, even before the added sales, was the world's largest ever.

The shares sold in the over-allotment option "had been allocated to investors during the book-building process and therefore, no additional shares are being offered into the market today," Aramco said.

Company shares traded down on Sunday, dipping to around 34.7 riyals, or $9.25 a share, amid heightened tensions in the Persian Gulf between Iran and the United States. Aramco was a target of rising tensions over the summer when a missile and drone attack, which Saudi Arabia and the US blame on Iran, temporarily halved its production.

Sunday's trading figures value Aramco at $1.85 trillion, still well ahead of Apple, the second largest company in the world after Aramco, but below the $2 trillion mark sought by Crown Prince Mohammed bin Salman.

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News Network
May 11,2020

May 11: Saudi Arabia will triple its value-added tax rate and suspend a cost of living allowance for state workers, it said on Monday, seeking to shield finances hit by low oil prices and a slump in demand for its lifeline export worsened by the new coronavirus.

Historic oil output cuts agreed by Riyadh and other major producers have given only limited support to prices after they sank on oversupply caused by a war for petroleum market share between the kingdom and its fellow oil titan Russia.

Saudi Arabia, the world's largest oil exporter, is also being hit hard by measures to fight the new coronavirus, which are likely to curb the pace and scale of economic reforms launched by Crown Prince Mohammed bin Salman.

"The cost of living allowance will be suspended as of June 1, and the value added tax will be increased to 15% from 5% as of July 1," Finance Minister Mohammed al-Jadaan said in a statement reported by the state news agency. "These measures are painful but necessary to maintain financial and economic stability over the medium to long term...and to overcome the unprecedented coronavirus crisis with the least damage possible."

The austerity measures come after the kingdom posted a $9 billion budget deficit in the first quarter.

The minister said non-oil revenues were affected by the suspension and decline in economic activity, while spending had risen due to unplanned strains on the healthcare sector and the initiatives taken to support the economy.

"All these challenges have cut state revenues, pressured public finances to a level that is hard to deal with going forward without affecting the overall economy in the medium to long term, which requires more spending cuts and measures to support non-oil revenues stability," he added.

The government has cancelled and put on hold some operating and capital expenditures for some government agencies, and cut allocations for some reform initiatives and projects worth a total 100 billion riyals ($26.6 billion), the statement said.

Central bank foreign reserves fell in March at their fastest rate in at least 20 years and to their lowest since 2011, while oil revenues in the first three months of the year fell 24% from a year earlier to $34 billion, pulling total revenues down 22%.

"The reforms are positive from a fiscal side as greater adjustment is essential. However, the tripling of VAT is unlikely to help that much in 2020 revenue wise with the expected fall in consumption," said Monica Malik, chief economist at Abu Dhabi Commercial Bank.

She said she kept unchanged her deficit forecast of 16.3% of GDP for this year, which already factors in a greater than previously announced spending cut.

About 1.5 million Saudis are employed in the government sector, according to official figures released in December.

In 2018, Saudi Arabia's King Salman ordered a monthly payment of 1,000 riyals ($267) to every state employee to compensate them for the rising living costs after the government hiked domestic gas prices and introduced value-added tax.

DIFFICULT TIMES

A committee has been formed to study all financial benefits paid to public sector employees and contractors, and will submit recommendations within 30 days, the statement said.

In late 2015, when oil prices fell from record highs, the kingdom slashed lavish bonuses, overtime payments and other benefits once considered routine perks in the public sector.

In a country without elections and with political legitimacy resting partly on distribution of oil revenue, the ability of citizens to adapt to such reforms is crucial for stability.

"Tripling the VAT will test the limits of the balance between revenues and consumption as the economy dives into a deep recession. The move will impact consumption and could also lower the expected revenues," said John Sfakianakis, a Gulf expert at the University of Cambridge.

"These are pro-austerity and pro-revenue moves rather than pro-growth ones," he said.

Hasnain Malik, head of equity strategy at Tellimer, said the VAT rise could bring about $24-$26.5 billion in additional non-oil fiscal revenue. The rise would hit consumer spending further but was a needed step towards fiscal sustainability, he said.

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