Youth bring in change: Haya

April 2, 2012

haya

Dubai, April 2: Under the patronage of His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, the Dubai International Humanitarian Aid and Development Conference and Exhibition (Dihad) was inaugurated on Sunday by the UN Messenger of Peace and Chairperson of the International Humanitarian City, Princess Haya bint Al Hussein, wife of Shaikh Mohammed, at the Dubai International Convention and Exhibition Centre.

Princess Haya was accompanied by Ibrahim Bumelha, Cultural and Humanitarian Advisor of Shaikh Mohammed, Vice-President of the Mohammed bin Rashid Al Maktoum Humanitarian and Charity Est., Chairman of the Higher Committee of Dihad and President of DISAB; Ahmed Humaid Al Mazroui, Chairman of the UAE Red Crescent Authority; William Lacy Swing, Director-General of the International Organisation for Migration (IOM); as well as a number of local and international figures also accompanied Princess Haya.

This year’s theme, ‘The Role and Importance of Youth in Humanitarian Assistance and Development Activities’, highlights the issues of youth in affected areas and the pursuit of providing them with development while implementing appropriate activities that will help them maintain the development process.

“Young people today have been raised in the digital age — they are accustomed to the fast movement of ideas, products and information, to instant gratification,” stated Princess Haya, who spoke at the opening ceremony.

“The pace of change in their daily lives has quickened and they are not patient. If I were a teenager or in my twenties today, I would be nervous, angry and frustrated.”

“People underestimate the capacity of youth,” continued Princess Haya. “How is it that we give them so little a role in setting the global development agenda or helping find new routes to ending political conflicts that deplete our energy and resources? Al Mazroui, in a speech delivered on behalf of Shaikh Hamdan bin Zayed Al Nahyan, Ruler’s representative in the Western Region and Chairman of the Red Crescent Authority, said: “The UAE stands at the forefront of the world’s key humanitarian players and it is committed to move forward with its approach that strengthen human ethics, rights and basic needs and put it at the forefront of our priorities. The UAE Red Crescent Authority follows the path of decency and generosity for the past three decades and we are keen to support the needy.”

In his speech, Ibrahim Bumelha said: “In the past nine years, Dihad has excelled in attracting the world’s key humanitarian executives and leaders to Dubai, providing a platform where they can share their expertise, express their opinions and contribute to solutions that would have major input in raising the standard of living. These solutions would target affected communities, building their capabilities and teach them how to respond quickly and more effectively during a crisis.”

As part of the programme, Princess Haya toured the exhibition.

“More than 275 exhibitors from 66 countries representing governmental and non-governmental organisations are participating in the Dihad exhibition this year,” said Dr Abdul Salam Al Madani, Executive Chairman of Dihad Conference and Exhibition and President of Index Holding.

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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
April 12,2020

Apr 12: Parents in Abu Dhabi affected by the Covid-19 situation can seek help from the authorities in paying off their children's school fees, it was announced on Sunday.

The Abu Dhabi Media Office took to Twitter to announce the reprieve. The Authority for Social Contribution - Ma'an and Abu Dhabi Department of Education and Knowledge (Adek) "will support parents with children attending private schools in #AbuDhabi who are affected by the current economic challenges, by paying school fees or providing devices for distance learning".

The move is part of the 'Together We Are Good' programme which aims to support residents impacted by the Covid-19 coronavirus crisis in the country.

"Parents can call the toll-free helpline on 800-3088 or register their request at http://togetherwearegood.ae. The closing date for fee assistance applications is 23rd April 2020," the media office tweeted.

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News Network
January 8,2020

Dubai, Jan 8: Iranian state television said on Wednesday that at least 80 "American terrorists" were killed in attacks involving 15 missiles Tehran launched on US targets in Iraq, adding that none of the missiles were intercepted.

State TV, citing a senior Revolutionary Guards source, also said Iran had 100 other targets in the region in its sights if Washington took any retaliatory measures. It also said US helicopters and military equipment were "severely damaged".

Iran launched missile attacks on US-led forces in Iraq in the early hours of Wednesday in retaliation for the US drone strike on an Iranian commander whose killing has raised fears of a wider war in the Middle East.

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