King seeks world action to end Syria bloodshed

December 7, 2016

Manama, Dec 7: Regional security and economy top the list of issues being discussed at the two-day Gulf Cooperation Council (GCC) summit taking place in the Bahraini capital.

King

In the opening session of the 37th GCC summit, Custodian of the Two Holy Mosques King Salman commended the council’s achievements since the previous meeting, including the establishment of the GCC Commission of Economic and Development Affairs last month.

“This aims at elevating the level of collaboration between the Gulf states,” said King Salman, who stressed the need to intensify collective efforts to guarantee regional stability amid the challenges facing the Arab world, including “terrorism, domestic struggle and bloodshed.”

He added: “We are all in pain at what is happening in Syria and what the Syrian people are going through.”

King Salman added that this highlighted the need for the “international community to end the bloodshed and reach a political solution to achieve security and stability in Syria.”

Kuwaiti Emir Sheikh Sabah Ahmad Al-Jaber Al-Sabah said the Gulf region was facing economic challenges triggered by the drop in oil prices. He added that the summit coincided with rapid international changes. Bahrain’s King Hamad bin Isa Al-Khalifa said the summit came at a time of unprecedented economic and political challenges facing the region.

Bahrain’s Crown Prince Salman bin Hamad Al-Khalifa met Tuesday with British Prime Minister Theresa May, who is the guest of honor at the summit.

The crown prince said the meeting with May reflected the importance of the UK’s strategic ties with Bahrain and the GCC.

Manama is the third destination in King Salman’s Gulf tour, following visits to the UAE and Qatar. He will then head to Kuwait, which concludes the tour.

King Salman led the Saudi delegation to the summit, which started with King Hamad’s inaugural speech.

The Bahraini king thanked King Salman for his efforts during the previous GCC session, lauding his wisdom in dealing with the challenges ahead.

King Hamad also thanked the GCC leaders for contributing to enhancing brotherly relations among the GCC countries, saying: “In light of the political and economic developments in the world, GCC states need more cooperation and integration. The Gulf council is an important platform for enhancing regional and international security and stability through active

political initiatives vis-à-vis regional conflicts and through preventing foreign interference in its internal affairs.”

The king also thanked GCC Secretary-General Abdullatif Al-Zayani for his efforts to follow up on and implement the council’s decisions.

King Salman said in Yemen, efforts are being exerted to end the struggle and achieve security and stability under a legitimate government and according to the GCC initiative and UN Security Council Resolution 2216, issued thanks to the efforts of the UN special envoy to Yemen.

The king said the GCC countries are gearing for a better future that meets the aspirations of their citizens for more prosperity and dignified living, and achieves security and stability in the region.

Kuwait’s emir highlighted the need to bolster GCC cooperation to attain further accomplishments that will reinforce solidarity among the Gulf nations. He said the scourge of terrorism, which poses a threat to regional security and stability, could only be countered through concerted efforts.

He said there was a need for a constructive dialogue between the GCC and Iran, and urged Tehran to cease meddling in the internal affairs of other nations.

Al-Zayani highlighted the importance of deepening integration in all fields, pointing out that the ministerial council submitted recommendations aimed at enhancing joint GCC action.

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Arab News
March 9,2020

Dubai, Mar 9: The eyes of the world will be on the oil markets when the big trading hubs in Europe and North America open following the end of the deal between Saudi Arabia and Russia that has helped to sustain crude at relatively high levels for the past three years.

There were big falls on Friday when ministers from the Organization of the Petroleum Exporting Countries (OPEC) failed to get a deal with non-OPEC members — the so-called OPEC+ — to extend output agreements. Brent oil was down nearly 10 percent at $45.27 going into the western weekend.

Saudi Aramco took immediate action to cut prices after the OPEC+ collapse, offering big discounts for crude deliveries from next month, when the current output restrictions end.

According to a notification sent to customers by Saudi Aramco, seen by Arab News, the Kingdom’s oil giant will cut between $4 and $8 per barrel, with the biggest discounts being offered to buyers in northwest Europe and the US.

Roger Diwan, an oil analyst at consultancy IHS Market, said: “We are likely to see the lowest oil prices of the past 20 years in the next quarter.”

West Texas Intermediate, the US oil benchmark, fell to $28.27 in November 2001.

The move raises the possibility of a “crude war” between the three biggest oil blocs — the US, Russia and the Arabian Gulf. Some analysts believe the American shale industry is more vulnerable to low prices than either the Russians or the Saudis.

Robin Mills, head of the Qamar consultancy, told Arab News: “I don’t think this was premeditated but Saudi Arabia has clearly swung quickly into action to put the Russians under pressure. But the Russians, with low debt and a flexible exchange rate, can cope with a few months of low prices.”

The boom in US shale has made the country the biggest oil producer in the world, but with high financing costs. Lower global prices would put a lot of shale companies out of business.

On the other hand, American motorists, and President Donald Trump, would be pleased to see lower fuel prices in an election year.

In Moscow, one prominent financier with ties to the Kingdom played down the long-term significance of the Vienna fallout.

Kirill Dmitriev, chief executive of the Russian Direct Investment Fund, told Arab News: “Saudi Arabia is our strategic partner, and cooperation between our two countries will continue in all areas. We will also continue to work within the framework of the Russia-Saudi Economic Council.”

One Russian official, who asked not to be named, added: “There is a good relationship between Alexander Novak, Russian energy minister, and his Saudi counterpart Prince Abdul Aziz bin Salman, and I am sure they will continue talking to each other less formally.”

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Agencies
August 8,2020

Beirut, Aug 7: A devastating explosion that destroyed much of Beirut might have been the result of a missile attack or bomb, Lebanese President Michel Aoun said, as the death toll from the blast rose to 154.

More than 2,700 tons of ammonium nitrate had been sitting in a port warehouse for six years, but there have been conflicting accounts about why Lebanese authorities decided to empty the shipment of explosive material. The vessel carrying the flammable cargo was heading from Georgia to Mozambique when it stopped in the Lebanese port to load up on iron, according to the ship’s captain.

By Friday, 19 suspects had been arrested and Lebanon’s former director general of customs Chafic Merhy had been questioned by military police.

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coastaldigest.com news network
May 12,2020

Riyadh, May 12: Saudi Arabia will impose a full-day lockdown and curfew across the Kingdom during the upcoming Eid holidays from May 23 until May 27, according to the Kingdom’s Interior Ministry.

Details are awaited

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