1. Home
  2. King Salman, Kremlin upbeat about ‘milestone’ royal visit

King Salman, Kremlin upbeat about ‘milestone’ royal visit

Agencies
October 4, 2017

Jeddah, Oct 4: King Salman hopes his visit to Russia this week and talks with President Vladimir Putin and other Russian officials will achieve the aspirations of the two countries, he told the Cabinet on Tuesday.

Addressing the weekly meeting at Al-Salam Palace in Jeddah, the king told ministers he looked forward to the visit enhancing relations between the countries to serve common interests and bring about global peace and security.

The historic visit, the first to Russia by a Saudi monarch, begins on Thursday. The king will lead a high-level delegation of government and private-sector figures.

Saudi Aramco will participate in a range of high-level engagements and activities including an exhibit throughout the royal visit.

The highlight will be the Saudi-Russian Business Investment Forum to be held in Moscow under the theme: Investment, Toward Building a Strong Partnership. The forum will be officially opened by Russia’s Minister of Energy, Alexander Novak.

Senior scholars and businessmen in Riyadh said the visit will open new areas of mutual cooperation and the two countries will reap benefits.

Shoura Council member Maj. Gen. Ali Al-Tamimi told Arab News that Saudi Arabia under King Salman, will open a new chapter not only in Saudi-Russian relations, but also in combating terror in the world.

“The first ever official visit by a Saudi king to Moscow since the foundation of the Kingdom demonstrates that Riyadh is eager to keep a balance in its foreign policy and diversify its ties,” said Mona A. Almushait, another Shoura Council member.

The Russia-Saudi summit is a milestone event to demonstrate that both countries are set for a much closer relationship. Russia and Saudi Arabia are showing the political will to foster bilateral economic ties, and their potential has yet to be fulfilled, Kremlin spokesman Dmitry Peskov said.

The visit will witness a series of joint economic functions that will bring together 200 representatives of Saudi and Russian companies to promote commercial partnerships and relations.

The Saudi Arabian General Investment Authority (SAGIA) will organize a one-day forum in Moscow on Saudi-Russian investments in cooperation with the Council of Saudi Chambers (CSC) and the joint Saudi-Russian Council, in the presence of a number of Saudi and Russian ministers, and members of the private sector.

Comments

Add new comment

About text formats
  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
July 28,2020

Dubai, Jul 28: Abu Dhabi Commercial Bank (ADCB) (ADCB.AD) is letting go hundreds of employees, sources said, the latest in a round of lay-offs by regional banks as pressure mounts to cut costs amid lower oil prices and the coronavirus crisis.

The UAE’s third-biggest lender is laying off 400 employees, two sources familiar with the matter said, after it had committed to not cutting staff because of the crisis.

In a statement, a spokesman said ADCB had pursued efficiency over the last decade by managing out its lowest underachievers after regular reviews, while ensuring talent was deployed in high-growth areas, such as digital banking.

“A certain number of redundancies are therefore expected every year in the normal course of business,” the bank spokesman added.

The sources said the cuts would involve ADCB’s consumer business and several in top management were among those being let go. One source said the bank was looking to close 20 branches.

In March, ADCB had declared, “No employee will be made redundant during 2020 as a result of the COVID-19 pandemic.”

UAE banks have been hit by government measures to rein in the spread of the virus, forcing many businesses to shut temporarily.

Last week, Dubai’s largest bank, Emirates NBD, reported a slump of 58% in profits. In June, sources told Reuters the bank started a new round of hundreds of lay-offs.

In May, ADCB reported a fall of 84% in first-quarter net profit as it took impairments of $292 million on debt exposure to troubled hospital operator NMC Health and payments group Finablr.

It was a major lender, with an exposure of about $981 million, to NMC Health, which went into administration this year after months of turmoil following questions over financial reporting.

Comments

Add new comment

About text formats
  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
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.

Comments

Add new comment

About text formats
  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
July 23,2020

Abu Dhabi, Jul 23: Muslims in the United Arab Emirates have been asked to perform Eid Al-Adha prayers at home even as mosques will be allowed to operate at an increased capacity of 50 percent from Aug. 3.

Mosques in the UAE have been operating at 30 percent capacity after they reopened on July 1.

Announcing the move, Dr. Saif Al Dhaheri, the official spokesman for the National Emergency, Crisis and Disasters Management Authority, stated that after assessing the situation and coordinating with the concerned authorities, it was decided that Eid Al-Adha prayers would be conducted in homes and takbeers broadcast through visual and audio means.

He also announced that the Emirates Fatwa Council has recommended that donations and sacrifices should be to official charitable causes in the country only.

Al Dhaheri advised the public to donate during this time to the official charitable bodies in the country with sacrifices and donations, through smart applications concerned with sacrifices or through slaughterhouses outlined by the local authorities that guarantee the application of precautionary and preventive measures and provide remote services without the need to enter livestock markets or slaughterhouses.

Al Dhaheri stressed the need to avoid family visits and gatherings, and replace them using electronic means of communication or phone contact, as well as refraining from distributing Eid gifts and money to children and individuals during this occasion recommending to instead use of electronic alternatives.

Al Dhaheri pointed out that it is necessary to avoid visiting pregnant women, children and those with chronic diseases who are most vulnerable to COVID-19 and not to allow them to leave the home and avoid going out to public places to preserve their health and safety.

Comments

Add new comment

About text formats
  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.