India Islamic Culture Center to set up regional chapters

April 29, 2012

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Riyadh, April 29: India Islamic Culture Center (IICC), an apex Islamic center with a mandate to provide a unified platform for promoting Islamic heritage and interfaith harmony, is planning to open regional chapters across India to give greater wingspan to its activities.


“A total of five chapters including one in the eastern Indian state of Bihar have been proposed,” announced Sirajuddin Qureshi, IICC president, in Riyadh Thursday night.


“The IICC will work with Indian government agencies and Saudi organizations including the New Delhi-based Saudi Embassy to generate support for the IICC’s expansion plan and for building its chapters in different provinces of India,” said Qureshi, while speaking at a function organized by welfare organization Bihar Anjuman in the capital. Qureshi arrived here on Thursday on a private visit. Nadeem Tarin, a prominent community leader and businessman, was the chief guest at the event, while Qureshi and Dilnawaz Roomi were the guests of honor.


Indian community leaders including S. Muneer Ahmed, Murshid Kamal, Faizan Balkhi, Jabed Hussain, Ziauddin Ahmed, Seraj Akram, Naushad Alam and Kaunain Shahidi were instrumental in organizing the event. A presentation about the activities of Bihar Anjuman was made by Shakeel Ahmed, the founder.


Qureshi said the state-level chapters would be launched soon. “We have already applied for the land allotments in some states,” said the IICC chief, adding that the IICC had called on the Kingdom's donor agencies and also the affluent NRIs living in Saudi Arabia and other countries to back the efforts to set up new centers.


To this end, he noted the IICC has become a hub of activities and program including seminars, symposiums and roadshows on mostly Muslim issues since its inauguration by Congress President Sonia Gandhi way back in June 2006. Late Prime Minister Indira Gandhi laid the foundation stone of the center in 1984. The IICC chief, who held a luncheon meeting with a group of affluent Indian community members to conceive the idea of IICC chapter in Patna and to formally launch a campaign to generate support for Patna center, said the New Delhi-based main IICC needs more resources to expand its facility.


Qureshi, who is chairman of the world-renowned India-based Hind Group, also called on Indian youth and especially his co-religionists to launch their own business ventures. "Our young generation must venture into the business field," he said.


Qureshi, who wrote his own fate and amassed huge prestige and wealth after starting a small venture on the roadside of the Indian capital several decades back, said business relations between Indian and Saudi Arabia are progressively growing.


He said official visits by leaders of both countries have built on the existing partnership. “In forging strategic ties with Saudi Arabia, India is always at an advantageous position,” said Qureshi, adding the recent visit of Indian Defense Minister A. K. Antony has boosted our defense ties with this nation. Qureshi, who heads a big Indian industry conglomerate with businesses in the slaughtering, processing and export of meat and meat products, fast food chains, infrastructure and aviation sector, has also plans to expand his fast food network.


In the meat industry, he has the most modern state of the art Abattoir-cum-meat processing plant, which is part of the Hind Agro Industries Limited. It was established in the CDF Complex in north Indian city of Aligarh with the world-renowned companies of New Zealand and Australia as technical collaborators.


Bihar Anjuman, which has chapters across the six-nation Gulf Cooperation Council (GCC) and India, is a premier welfare organization dedicated to helping poor Muslims. Qureshi has always been on the forefront in promoting social and charitable organizations like Bihar Anjuman. The foundation for Bihar Anjuman was laid on March 11, 1999, with some people joining hands to help those who may be in need of financial help, or in need of a job.


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Agencies
March 15,2020

Riyadh, Mar 15: Saudi Aramco on Sunday reported a 20.6 percent drop in its net profit for 2019 due to low oil prices and production levels, the company said in a statement.

These are the first annual results to be announced by the energy giant after its historical $29.4 billion initial public offering and listing on the Saudi Tadawul market last December.

Aramco posted net profits of $88.2 billion last year compared to $111.1 billion in 2018, Monday's statement said.

"The decrease was primarily due to lower crude oil prices and production volumes, coupled with declining refining and chemical margins," it said.

The company also made $1.6 billion of impairment provisions for losses associated with Sadara Chemical Company, an Aramco subsidiary.

"2019 was an exceptional year for Saudi Aramco. Through a variety of circumstances -- some planned and some not -- the world was offered unprecedented insight into Saudi Aramco's agility and resilience," CEO Amin Nasser said.

"Our unique scale, low costs, and resilience came together to deliver both growth and world-leading returns, while also maintaining our position as one of the world's most reliable energy companies," Nasser said.

The earnings for last year are not affected by the coronavirus outbreak or the ongoing price war between Saudi Arabia and Russia that has sent oil prices crashing.

Aramco said it will distribute dividends worth $73.2 billion for 2019 but based on its commitments under the IPO, its dividends for the next five years starting this year will be at least $75 billion.

It said its capital spending last year dropped to $32.8 billion from $35.1 billion in 2018.

The company expects capital spending, which is expenditure on projects, to be between $25 billion and $30 billion this year "in light of current market conditions and recent commodity price volatility."

But it said that capital expenditure for 2021 and beyond is currently under review.

The results were announced amid a price war between Saudi Arabia and Russia after they failed to agree on additional output cuts to support prices dented by the outbreak of the coronavirus pandemic.

"The recent COVID-19 outbreak and its rapid spread illustrate the importance of agility and adaptability in an ever-changing global landscape," Nasser said.

The kingdom said last week Aramco will pump 12.3 million barrels of oil per day, boosting output by at least 2.5 million bpd.

It also announced plans to raise production capacity from 12 million bpd to 13 million bpd.

Forecasts for future crude prices and demand are also bleak.

In its latest monthly report, the Organization of Petroleum Exporting Countries lowered its forecast for global average daily demand by 0.92 million barrels to 99.73 million barrels.

Saudi Arabia is also in the midst of a royal purge that saw King Salman's brother and nephew detained after sources said they were accused of plotting a palace coup to unseat the crown prince, heir to the Saudi throne.

Aramco shares rallied immediately after the listing on December 11, rising by 19 percent to 38 riyals ($10.1) and temporarily lifting the company's valuation above the $2 trillion mark, which was sought by Crown Prince Mohammed bin Salman, Saudi Arabia's de facto ruler.

But as oil prices tumble, Aramco shares have lost 29 percent from its highest point, slipping below the listing price.

On Thursday, Aramco's market value dropped to around $1.55 trillion, but it still remains the world's largest publicly listed company.

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Agencies
January 11,2020

Muscat, Jan 11: Oman's Culture and Heritage Minister, Haitham bin Tariq Al Said, took oath as country's Sultan on Saturday following the demise of Qaboos bin Said al-Said, the country's government confirmed on Saturday.

Sputnik quoted a report by sultanate's Al-Roya newspaper as saying that the new Sultan " affirmed the continuation of the country's modernisation and development in various fields."

The development comes after Qaboos bin Said, who had served as the ruler of Oman since 1970, died Friday at the age of 79.

Earlier in the day, Prime Minister Narendra Modi had condoled Qaboos's demise and remembered him as the "beacon of peace for India and the world". 

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News Network
May 2,2020

Dubai, May 2: Saudi Arabia has confirmed 1,362 new coronavirus cases, bringing the total number of COVID-19 patients in the country to 25,459, the Ministry of Health reported Saturday.

In the daily media briefing, the ministry announced 7 more deaths and 210 new recoveries, raising the total number of fatalities and recoveries to 176 and 3,765, respectively.

Out of the 1,362 new cases reported today, 249 were confirmed in Medina, 245 in Jeddah, 244 in Mecca, 161 in Riyadh, in addition to 126 infections in Dammam, 81 in Khobar and 80 in Jubail.

Dr. Mohammed Al Abd Al Aly, spokesman for Saudi Arabia’s Ministry of Health reiterated that so far there was no evidence that hot weather will curtail the spread of coronavirus.

Authorities continue to urge people to stay at home unless necessary despite having relaxed some restrictions and curfews at the start of Ramadan.

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