Riyadh donates additional $150m to help Yemenis

April 26, 2017

Jeddah, Apr 26: Saudi Arabia on Tuesday donated $150 million (SR562 million) to the King Salman Center for Humanitarian Aid and Relief (KSRelief) to boost its work in war-torn Yemen.

YemenThe donation was announced by Abdullah Al-Rabeeah, head of the center, who led the Kingdom’s delegation to a donors’ conference in Geneva.

Al-Rabeeah said the most recent donation is part of the $8.2 billion the Kingdom has pledged to help its humanitarian and developmental assistance to Yemen since April 2015.

International donors pledged $1.1 billion for Yemen, said UN Secretary-General Antonio Guterres Tuesday. Officials did not immediately provide a full breakdown of the pledges — or specify how much was new.

Guterres appealed to the fighting sides to grant access to humanitarian relief and revive diplomatic efforts to end the conflict in which more than 10,000 civilians have died.

Guterres ended the daylong Yemen aid conference by hailing the “clear generosity and solidarity” of governments and civil society in their efforts to aid people caught up in two years of conflict in the Arab world’s poorest country.

The conference, cosponsored by the UN, Switzerland and Sweden, raised pledges of over half of the $2.1 billion sought by the UN this year.

Yemeni Prime Minister Ahmed Obeid bin Daghr said the Houthi militias and those loyal to ousted Yemeni President Ali Abdullah Saleh were blocking state salaries owed to employees in areas under their control. He added that the funds pledged are enough to pay state salaries for a period of nine months in Sanaa and other cities.

“We sent 12 billion Yemeni riyals from Aden to Sanaa and Taiz, which are under the control of the Houthis, and we are still sending funds to cities, despite the obstacles, as we do not differentiate between the provinces. We will continue to support the humanitarian aid teams irrespective of where they are as there is no differentiation between provinces under the control of the government and others,” he said.

Bin Daghr stressed that the Yemeni government will continue to lend support to UN efforts and the humanitarian response plan for 2017, adding that millions of Yemeni citizens are awaiting this assistance, some facing starvation.

“Taiz is the largest city after the capital, and it has been suffering from siege and continuous shelling over the past two years. Iranian-made ballistic missiles are continuing to hit cities and neighborhoods. The destruction continued with the march of militias on the cities of Yemen, city after city, including the capital of Sanaa, Taiz, and others, resulting in a clear assault on the legitimate elected government,” said Bin Daghr.

After years of shortfall in funding for Yemen, Guterres said there is a “very encouraging signal” that the target could be met this year.

He said the pledges must now be “translated into effective support” for Yemenis.

“We basically need now three things: Access, access, access,” for humanitarian actors to reach all Yemenis in need, he said.

“On average, a child under the age of five dies of preventable causes in Yemen every 10 minutes,” Guterres said at the opening of the conference.

“This means 50 children in Yemen will die during today’s conference, and all of those deaths could have been prevented.”

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News Network
January 3,2020

Hong Kong, Jan 3: Oil prices soared more than four per cent Friday following claims that the US had killed a top Iranian general, ratcheting up tensions between the foes and fuelling fears of a conflict in the crude-rich region.

The head of Iran's Quds Force, Qasem Soleimani, was hit in an attack on Baghdad international airport early Friday, according to Hased, a powerful Iraqi paramilitary force linked to Tehran.

Brent surged 4.4 per cent to USD 69.16 and WTI jumped 4.3 per cent to 63.84.

“Oil prices still have room for further upside as many analysts are still having to upgrade their demand forecasts to include a rather calm period on the trade front,” Moya said, referring to the warming trade relation between China and the United States.

“President Trump is likely to take a break on being ‘tariff man’ until we get beyond the presidential election in November.”

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News Network
January 12,2020

Dubai, Jan 12: Saudi Arabian oil giant Aramco announced Sunday that its initial public offering raised a record $29.4 billion, a figure higher than previously announced, after the company used a so-called "greenshoe option" to sell millions more shares to meet investor demand.

The company said that the sale of an additional 450 million shares took place during the initial public offering process.

The oil and gas company, which is majority owned by the state, began publicly trading on the local Saudi Tadawul exchange on December 11. It hit hit upwards of $10 a share on the second day of trading. This gave Aramco a market capitalization of $2 trillion, making it comfortably the world's most valuable company.

Aramco's additional sales mean the company has publicly floated 1.7% of its shares. It's IPO, even before the added sales, was the world's largest ever.

The shares sold in the over-allotment option "had been allocated to investors during the book-building process and therefore, no additional shares are being offered into the market today," Aramco said.

Company shares traded down on Sunday, dipping to around 34.7 riyals, or $9.25 a share, amid heightened tensions in the Persian Gulf between Iran and the United States. Aramco was a target of rising tensions over the summer when a missile and drone attack, which Saudi Arabia and the US blame on Iran, temporarily halved its production.

Sunday's trading figures value Aramco at $1.85 trillion, still well ahead of Apple, the second largest company in the world after Aramco, but below the $2 trillion mark sought by Crown Prince Mohammed bin Salman.

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Agencies
February 5,2020

Paris, Feb 5: Saudi Arabia has reported an outbreak of the highly pathogenic H5N8 bird flu virus on a poultry farm, the World Organisation for Animal Health (OIE) said on Tuesday, February 4.

The outbreak, which occurred in the central Sudair region, killed 22,700 birds, the OIE said, citing a report from the Saudi agriculture ministry.

The other 385,300 birds in the flock were slaughtered, it said.

The case was the first outbreak of the H5N8 virus in Saudi Arabia since July 2018.

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