Clashes return to streets of Cairo in another blow for Egypt

July 16, 2013

Cairo_clashesCairo, Jul 16: Egyptian police and protesters clashed in central Cairo early on Tuesday after fights broke out between supporters of ousted Islamist President Mohamed Morsi and locals angered when they tried to block major thoroughfares crossing the River Nile.

The MENA state news agency said at least 22 people were injured in the violence, which began just after 9pm (1900 GMT) on Monday and lasted into the early hours of Tuesday.

The clashes were smaller and more localised than the earlier deadly unrest since Morsi was deposed by the military on July 3, and most of Cairo was unaffected.

Still, after a week of relative calm, scenes of running street battles close to the Egyptian Museum, one of the country's main tourist attractions, may raise further concerns about stability in the Arab world's most populous country.

"I've had enough of this chaos," said Ashraf Mohamed, who watched the clashes from a distance. "Egypt is just rubbish."

Young men, their mouths covered to protect them from tear gas, threw stones at police and shouted pro-Morsi and anti-military slogans, as well as "Allahu Akbar!" (God is greatest).

Military helicopters hovered overhead and police vans were brought in to quell the trouble, but when that didn't work, dozens of riot police moved in. Medics treated men with deep gashes to their eyes and faces nearby.

Mohamed's frustration echoed the view of millions of Egyptians who rallied for Morsi's resignation on June 30. The military said it deposed him to fulfil the wish of the people. Morsi's Muslim Brotherhood movement said it was a coup.

"It's the army against the people, these are our soldiers, we have no weapons," said Alaa el-Din, a 34-year-old computer engineer, clutching a laptop.

"The army is killing our brothers, you are meant to defend me and you are attacking me. The army turned against the Egyptian people."

Egypt has become increasingly polarised by the crisis, but one thing the two sides share is a deep mistrust of the United States and its perceived role in the unrest.

Burns spurned?

US deputy secretary of state William Burns told reporters in Cairo that Washington had no desire to meddle in Egypt, which it supports with $1.5 billion in aid each year, most of which goes to the military.

"Only Egyptians can determine their future," Burns told reporters at the US embassy. "I did not come with American solutions. Nor did I come to lecture anyone. We will not try to impose our model on Egypt."

Washington, never comfortable with the rise of the Islamist Brotherhood, has so far refused to say whether it views Morsi's removal as a coup, which would require it to halt aid.

The Islamist Nour Party and the Tamarud anti-Morsi protest movement both said they turned down invitations to meet Burns.

But a senior State Department official denied Burns had been shunned. "I don't think we're losing influence at all," the US official said, adding that Burns was still in Cairo.

"I don't know what meetings he has, but he has seen a range of people in Cairo in the interim government, in civil society ... so it's hard to say he has been spurned by both sides. I don't accept that is the case."

Marches in Cairo and beyond

Tens of thousands of Brotherhood supporters gathered late on Monday at the Rabaa Adawiya mosque in northeastern Cairo, where they have staged a sit-in vigil for the last three weeks vowing to stay until Morsi is reinstated.

Another large crowd rallied outside Cairo University, and there were protests in the coastal city of Alexandria and the Nile city of Assiut. There also were minor clashes in Giza, home of the pyramids, just outside Cairo.

The army warned demonstrators that it would respond with "the utmost severity and firmness and force" if they approached military bases or "vital state institutes."

At least 92 people were killed in the days after Morsi was toppled, more than half of them shot by troops outside the Republican Guard compound near the Rabaa mosque on July 8. Protests since then had been tense but peaceful until Monday night.

The political turmoil and unrest in major cities has also fuelled violence in Egypt's lawless North Sinai province bordering Israel and the Palestinian Gaza Strip.

Attacks in the area have killed 13 people, mainly police, since July 3. In the latest, suspected Islamist militants fired grenades at a bus carrying workers from a factory in the Sinai city of El Arish on Monday, killing three and wounding 17.

US calls for restraint

Morsi is being held incommunicado at an undisclosed location. He has not been charged with a crime but the authorities say they are investigating him over complaints of inciting violence, spying and wrecking the economy. Scores of Morsi supporters were rounded up after violence last week.

Many of the top Brotherhood figures have been charged with inciting violence, but have not been arrested and are still at large. The public prosecutors' office announced new charges against seven Brotherhood and Islamist leaders on Monday.

Burns had earlier called for restraint on both sides.

"If representatives of some of the largest parties in Egypt are detained or excluded, how are dialogue and participation possible?" he asked. He also urged those opposed to Morsi's ouster to participate in the political process peacefully.

Interim President Adli Mansour and his prime minister Hazem el-Beblawi head a transitional cabinet full of technocrats that is paving the way for parliamentary elections in around six months, in a bid to restore civilian rule.

US-educated economist Ahmed Galal, as finance minister, has the task of rescuing an economy and state finances wrecked by two and a half years of turmoil.

That task became easier, at least in the short term, after Saudi Arabia, the United Arab Emirates and Kuwait - rich Gulf Arab states happy at the downfall of the Brotherhood - promised a total of $12 billion in cash, loans and fuel.

The new planning minister, Ashraf al-Arabi, said the Arab money would be enough to sustain Egypt through its transition period and it did not need to restart talks with the International Monetary Fund.

Egypt had sought $4.8 billion in IMF aid last year, but months of talks ran aground with the government unable to agree on cuts in unaffordable subsidies for food and fuel. Arabi's comments could worry investors who want the IMF to prod reform.

"I think it's inappropriate to be making such a strong statement, given how new he is to the position," said Angus Blair, president of the Signet Institute, an economic think tank.

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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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Agencies
March 1,2020

Paris, Mar 1: Most of the riders and teams taking part in the abandoned UAE Tour, and who had been quarantined in their Abu Dhabi hotels since Thursday after a coronavirus scare, were cleared to leave the country, sources said.

"The pleasure of going home after several days spent at the hotel," tweeted 2018 world champion Alejandro Valverde, one of the top stars of the race along with Chris Froome, the four-time winner of the Tour de France.

"We are doing well and soon we will fly to Spain."

However, there was confusion over how many competitors and officials will be allowed to leave.

All 133 cyclists who were still in contention as well as team members were tested after it was announced by organisers Thursday that two Italian staff members on the race had tested positive for the COVID-19 virus.

Earlier Saturday, the UAE Tour, quoting health officials, said that 167 people had been tested and all were negative.

The Department of Health-Abu Dhabi were "still monitoring the condition of the remaining cases of contacts, whose lab testing findings will be available in the next few hours."

The UAE Tour cancelled its last two stages on Thursday after the coronavirus cases were confirmed.

Danish cyclist Michael Morkov of the Deceuninck-Quick-Step team, who took part in the first four stages, was placed in isolation in his hotel room after arriving in Berlin to take part in the world track championships.

However, on Saturday, he too was cleared to take part.

"The rider present in Berlin is currently in excellent health, with no suspicious clinical signs, and we are also guaranteed that he has not contacted the two members of the management of a team participating in the UAE Tour, originally suspected of coronavirus," governing body UCI said in a statement.

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News Network
July 20,2020

Abu Dhabi, Jul 20: The United Arab Emirates launched its first-ever interplanetary Hope Probe mission to Mars from Japan's Tanegashima Space Centre at 01:58 a.m. (local time) on Monday.

"United Arab Emirates (UAE) launches its first mission to Mars, the 'Hope Mars Mission' from Japan's Tanegashima Space Center," UAE Space Agency said on its Twitter page.

The spacecraft is expected to reach Mars orbit in about 200 days from now and then begin its mission to study the Red Planet's atmosphere, WAM news agency reported.

Once it enters Mars' orbit in the first quarter of 2021, the Hope probe will mark the UAE's 50th anniversary.

The probe will travel 493 million kilometres into space in a journey that will take seven months, and will orbit the Red Planet for one full Martian year of 687 days to provide the first truly global picture of the Martian atmosphere.

The Hope probe will be the first to study the Martian climate throughout daily and seasonal cycles. It will observe the weather phenomena on Mars such as the massive famous dust storms that have been known to engulf the Red Planet, as compared to the short and localised dust storms on Earth.

It will also examine the interaction between the upper and lower layers of the Martian atmosphere and causes of the Red Planet's surface corrosion, as well as study why Mars is losing its upper atmosphere.

Exploring connections between today's Martian weather and the ancient climate of the Red Planet will give deeper insights into the past and future of Earth as well as the potential of life on Mars and other distant planets.

The Hope Mars Mission is considered as the biggest strategic and scientific national initiative announced by UAE's President His Highness Sheikh Khalifa bin Zayed Al Nahyan and His Highness Sheikh Mohammed bin Rashid Al Maktoum in 2014. The UAE will be the first Arab nation to embark on a space mission to the Red Planet in a journey that contributes to the international science community as a service to human knowledge.

The interplanetary mission is the first by any West Asian, Arab or Muslim majority country.

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