Qatari emir speaks to Saudi crown prince over Gulf row

Agencies
September 9, 2017

Qatar, Sept 9: Saudi Arabia says plans to hold talks with Qatar have been suspended, shortly after the emergence of reports that a phone call between Qatar's emir and the Saudi crown prince hinted at a potential breakthrough in a major diplomatic crisis in the Gulf.

The call on Friday between by Qatar's Emir Sheikh Tamim bin Hamad Al Thani and Saudi Crown Prince Mohammed bin Salman was the first official contact between Doha and Riyadh since the start of the crisis more than three months ago.

In the phone call, which was reported by state media from both countries, the two leaders expressed a willingness to discuss an end to the rift.

However, there seems to be a dispute over protocol - with some reports pointing out to Qatar News Agency's (QNA) apparent failure to mention that it was Doha that had initiated the call.

In its report about the two leaders' call, QNA said that the phone conversation had been coordinated by US President Donald Trump.

In the phone discussion, Sheikh Tamim and Mohammed bin Salman "stressed the need to resolve this crisis" through dialogue "to ensure the unity and stability" of the Gulf Cooperation Council (GCC), said QNA.

The Qatari emir welcomed a proposal by the Saudi crown prince to assign two envoys to resolve the dispute "in a way that does not affect the sovereignty of states", the Qatari news agency added.

'Suspension of dialogue'

On June 5, Saudi Arabia, the United Arab Emirates, Egypt and Bahrain severed relations with Qatar and imposed a blockade against it, accusing Doha of funding "terrorism". Qatar has vehemently rejected the allegations as "baseless".

On June 22, the group issued a 13-point list of demands, including the shutdown of Al Jazeera, limiting ties with Iran, and expelling Turkish troops stationed in the country as a prerequisite to lifting the blockade. Doha rejected all the demands, denouncing them as attempts to infringe Qatar's sovereignty.

In what appeared to be a possible breakthrough, Saudi state news agency SPA initially issued a statement confirming Friday's phone conversation, saying that Sheikh Tamim had called Mohammed bin Salman and "expressed his desire" to discuss the demands of the four blockading countries.

"The details will be announced later after the Kingdom of Saudi Arabia concludes an understanding with the United Arab Emirates, the Kingdom of Bahrain and the Arab Republic of Egypt," it added.

But SPA later issued a second statement, citing an unnamed official at the ministry of the foreign affairs as saying that what QNA had published earlier in its report about the phone call was a "distortion of ... facts".

"The Kingdom of Saudi Arabia announces the suspension of any dialogue or communication with the authority in Qatar until a clear statement is issued clarifying its position in public," the second statement added.

Trump calls GCC leaders

The latest row came shortly after the White House issued a statement saying that Trump had spoken separately earlier on Friday with the Qatari and Saudi leaders, as well as UAE Crown Prince Sheikh Mohammed bin Zayed Al Nahyan.

In his phone calls, Trump told the Gulf leaders that unity among Washington's Arab allies was essential to promoting regional stability and countering the threat of Iran, the statement added.

"The president also emphasised that all countries must follow through on commitments from the Riyadh Summit to defeat terrorism, cut off funding for terrorist groups, and combat extremist ideology," it said.

Al Jazeera's Kimberly Halkett said there was "tremendous optimism" in Washington "over the fact that the White House had successful coordinated the first official contact" between the GCC partners.

Yet, it was what happened after the phone call that "seems to be what has caused so much consternation", said Halkett, reporting from Washington, DC.

"The fact that there is an accusation by Saudi Arabia that Qatar's news agency misrepresented the facts, failing to report - in the eyes of the Saudis - that it was the emir of Qatar who initiated the phone call to Saudi Arabia’s crown prince."

Mohammed Cherkaoui, a professor at George Mason University, said he was still optimistic about the call.

"I remain optimistic since there was a major turning point in the conflict itself, and I think now that we're watching the end of the escalation process that started three months ago," Cherkaoui told Al Jazeera.

"The latest news now that there is this resistance - this is normal because conflict escalation comes fast and mediation is very slow by its nature," he added.

Kuwaiti mediation

On Thursday, Trump held talks with the emir of Kuwait, who has been acting as a mediator to defuse the crisis, at the White House.

Speaking at a joint press conference after their meeting, Trump said that he supported Sheikh Sabah Al Ahmad Al Sabah's mediation efforts, but added that if that did not manage to resolve the Gulf crisis, he would be "willing to be a mediator".

Later on Thursday, Trump also held a phone conversation with Sheikh Tamim. In the call, the Qatari emir expressed Doha's position on resolving "differences through constructive dialogue that does not affect the sovereignty of states", QNA said.

The GCC is an alliance of six Middle Eastern countries: Qatar, Saudi Arabia, the United Arab Emirates (UAE), Bahrain, Kuwait and Oman.

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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
June 5,2020

Dubai, Jun 5: A new set of coronavirus guidelines for UAE hotels has been published by the National Emergency Crisis and Disasters Management Authority.

The guidelines, released late Thursday, require all employees to be tested for Covid-19 before reopening, and to be re-tested every 15 days.

Hotels are expected to provide an infrared thermometer and thermal camera, with employee temperatures to be tested several times per working day.

Any guest or employee showing coronavirus symptoms will not be permitted to enter hotel facilities, the guidelines stress.

Hotels must also leave a 24-hour gap between guests leaving a room, and the next guests arriving.

Facilities such as restaurants, cafes, gyms, swimming pools and beaches in hotels will resume operation under a minimum capacity.

Customers must have their temperatures taken before they enter.

The working hours of restaurants and cafes will be from 6am until 9pm, allowing four people to sit at the same table with 2.5 metres left between tables. Menus must be sterilised after each use.

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News Network
March 23,2020

Dubai, Mar 23: All inbound, outbound and transit passenger flights to and from the United Arab Emirates – home to one of the world’s busiest hubs – are to be suspended for two weeks.

The UAE’s National Emergency Crisis and Disasters Management Authority (NCEMA) and General Civil Aviation Authority (GCAA) has announced that passenger flights to, from and through the country will be suspended from 25 March for a period of two weeks, in order to “curb the spread of the Covid-19”.

Freight and emergency evacuation flights will still be permitted to operate.

The suspension affects major global hubs in Dubai and Abu Dhabi. Dubai-based Emirates has already announced that it will suspend most of its passenger flights from 25 March.

“Additional examination and isolation arrangements will be taken later should flights resume, in order to ensure the safety of passengers, air crews and airport personnel and their protection from infection risks,” state the NCEMA and the GCAA.

Dubai International Airport was the third-busiest airport in the world in 2018, handling 89 million passengers.

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