Saudi Arabia to be Trump’s 1st stop on first foreign trip

May 5, 2017

Washington, May 5: Promoting an agenda of “tolerance,” “burden sharing” and “countering both Iran and Daesh,” senior US officials announced that Saudi Arabia will be the first stop for US President Donald Trump on his debut foreign visit since taking office in January.

SaudiThis is the first time ever that a US president has made Saudi Arabia a first stop on a maiden foreign trip after taking office.

The visit is expected to take place in late May and will convene in Riyadh in a Muslim leaders’ summit with Trump, according to US officials who briefed reporters on condition of anonymity.

From Saudi Arabia, Trump will travel to Israel, and then to the Vatican where he will meet Pope Francis.

Trump is expected to travel to Brussels to participate in North Atlantic Treaty Organization’s (NATO) summit. He will conclude the trip by attending the G-7 summit in Italy on May 26-27.

In announcing his trip from the Rose Garden at the White House, Trump stressed a message of “tolerance is the cornerstone of peace.”

He said: “That is why I am proud to make a major and historic announcement this morning and share with you that my first foreign trip as president of the United States will be to Saudi Arabia, then Israel, and then to a place that my cardinals love very much, Rome.”

Trump said he hoped to lay “a new foundation of cooperation and support with our Muslim allies to combat extremism, terrorism and violence, and to embrace a more just and hopeful future for young Muslims in their countries.” Trump referenced a more flexible foreign policy in dealing with governments in the region. “Our task is not to dictate to others how to live but to build a coalition of friends and partners who share the goal of fighting terrorism and bringing safety, opportunity and stability to the Middle East,” he said.

“This is the first country the US president visits on his tour of the region, also his first, which attests to the importance attached to Saudi Arabia,” Hamdan Al-Shehri, a Riyadh-based Saudi political analyst, told Arab News on Thursday.

“It sends the strong message that the Saudi-US relations are solid and that the two sides are keen to boost cooperation, especially in view of the more recent political and military developments in the Middle East,” he added.

He noted that the two sides will discuss several issues of common concern, including the Syrian crisis and the important role Saudi Arabia has been playing in trying to find a political solution to it.

The situation in Yemen and the Iranian intervention in the region, by supporting the Houthi militias in Yemen and the Syrian regime, which is a major contributor to the spread of terrorism, are also hot topics the two sides are expected to discuss during the visit, said Al-Shehri.

“Deputy Crown Prince Mohammed bin Salman’s earlier visit to the US no doubt contributed to shaping the US approach to the Middle East.

During his visit, the deputy crown prince highlighted the opportunities the previous US administration wasted to address the crises in the region and put things back on track, particularly that now, there is need for a stronger US political involvement to balance the Russian and other countries’ presence in the region,” he said. US senior officials in a briefing about the visit said planning for trip to Saudi Arabia “started after the election” in November. They referenced a “big opportunity” and “new page of engagement” between the US and its Arab partners.

One official said Arab allies have shown “eagerness” to work with Trump and had felt “being abandoned” under his predecessor, Barack Obama, with a sense “that the US is withdrawing from the region.”

The officials promised a more robust US engagement focused on countering both Iran and Daesh, and fostering “tolerance among the three religions,” which explains the first three stops in Muslim, Jewish and Christian holy places.

“What this trip will show is that the president, as he lays out his agenda, America First, is fully compatible with American leadership in the world,” stressed one official.

The Trump administration did not close the door on a possible trilateral summit in Jerusalem between Trump, Israeli Prime Minister Benjamin Netanyahu and Palestinian President Mahmoud Abbas. It would mark the first such meeting since peace negotiations were brought to halt in 2014.

The White House statement announcing the visit said: “President Trump has accepted the invitation of King Salman bin Abd Al-Aziz, the Custodian of the Two Holy Mosques, to visit the Kingdom of Saudi Arabia later this month.”

It added that “the visit will reaffirm the strong partnership between the United States and Saudi Arabia and allow the leaders to discuss issues of strategic concern, including efforts to defeat terrorist groups and discredit radical ideologies.”

The statement said while in Israel Trump “will discuss a range of regional issues, including the need to counter the threats posed by Iran and its proxies, and by ISIS (Daesh) and other terrorist groups.”

Visiting Israel on the first trip also marks a reversal from Obama who visited Turkey, Saudi Arabia, Iraq and Egypt in the first year in 2009.

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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
March 26,2020

Riyadh, Mar 26: Leaders of the Group of 20 nations will hold a summit today via video conference to discuss measures to protect the global economy, amid coronavirus pandemic which has claimed over 18,000 lives globally.
The summit, which will be chaired by Saudi Arabia's King Salman bin Abdulaziz Al Saud, aims to "advance a coordinated global response to the COVID-19 pandemic and its human and economic implications," according to the statement published by the G20 Secretariat on Tuesday.
The lethal virus which was first detected in December last year in the Chinese city of Wuhan, has since, infected over 4,14,179 people around the world.
The coronavirus has already resulted in major disruption of global supply chains, volatility and large drops in the stock market and could cause a financial crisis as stated by IMF Managing Director Kristalina Georgieva.
India is a member nation of the G20 group.
Speaking on the summit on Wednesday, Prime Minister Narendra Modi said that the Group of 20 (G20) has an important role to play in the fight against coronavirus.
He said: "The G20 has an important global role to play in addressing the #COVID19 pandemic. I look forward to productive discussions tomorrow at the G20 Virtual Summit, being coordinated by the Saudi G20 Presidency."
The other members include Argentina, Australia, Brazil, Canada, China, Germany, France, India, Indonesia, Italy, Japan, Mexico, the Russian Federation, Saudi Arabia, South Africa, South Korea, Turkey, the UK, the US, and the European Union.
In view of the coronavirus outbreak situation, several international organisations -- including the United Nations, World Bank, the World Health Organization and the World Trade Organization will take part.
Leaders from the Food and Agriculture Organization, the Financial Stability Board, the International Labour Organization, International Monetary Fund, the Organization for Economic Cooperation and Development -- will also be the part of the conference.

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Saudi Gazette
May 27,2020

Riyadh, May 27: Following the announcement of easing of lockdown measures, which includes reopening of all mosques for daily congressional as well as Friday prayers across the Kingdom except the holy city of Makkah, the Ministry of Islamic Affairs, Call and Guidance has set mandatory guidelines.

In a circular issued to mosque staff, Minister of Islamic Affairs, Call and Guidance Sheikh Abdullatif Al-Asheikh has instructed that all mosques must comply with the following precautionary measures and instructions:

1. Open mosques 15 minutes before the Adhan and close them 10 minutes after prayer

2. Reduce the waiting period between the Adhan and Iqamah to 10 minutes

3. Open windows and doors from entering time to the end of the prayer

4. Remove copies of Holy Qur’an and other books temporarily from mosques

5. Ensure attendees keep a distance of two meters between each other

6. Ensure one space is left between each row

7. Close all water coolers and refrigerators

8. Do not allow distribution of water or food in mosques

9. Close toilets and places of ablution

Precautionary measures on Friday prayers are as follows:

1. Open mosques 20 minutes before Friday prayer and closing them 20 minutes after prayer.

2. Friday sermon with prayer should not exceed 15 minutes.

The circular also stipulates to keep the suspension of the religious courses, programs and lectures, as well as the memorizing Holy Qur'an sessions in the mosques and to continue education and lectures remotely until further notice.

The circular pointed out that the imams of mosques should urge the worshipers to take the following precautionary measures:

1. Wear a face mask

2. Bring their own prayer rugs and not leave them after the prayer

3. Prevent accompanying children under 15 years of age from entering mosques

4. Perform ablution at home

5. Avoid crowding when entering or exiting mosques

Meanwhile, the spokesman of the Ministry of Interior clarified later in the day that people are allowed to perform congressional prayers in their locality during the time of curfew.

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