Saudi Arabia makes fresh arrests in anti-graft crackdown

Agencies

November 8, 2017

Riyadh, Nov 8: Saudi Arabian authorities have made further arrests and frozen more bank accounts in an expanding anti-corruption crackdown on the kingdom's political and business elite, sources familiar with the matter said on Wednesday

Dozens of royal family members, officials and business executives have already been held in the purge announced on Saturday. They face allegations of money laundering, bribery, extortion and exploiting public office for personal gain.

But the sources, speaking on Wednesday, said a number of other individuals suspected of wrongdoing were detained in an expansion of the crackdown, widely seen as an initiative of the powerful heir to the throne, Crown Prince Mohammed bin Salman.

Others under scrutiny are being telephoned by investigators about their finances but appear to remain at liberty, one of the sources said, adding that the number of people targeted by the crackdown was expected eventually to rise into the hundreds.

The number of domestic bank accounts frozen as a result of the purge is over 1,700 and rising, up from 1,200 reported on Tuesday, banking sources said.

A number of those held most recently include individuals with links to the immediate family of the late Crown Prince and Defence Minister Prince Sultan bin Abdulaziz who died in 2011, the sources said.

Stocks Fall

Others appear to be lower-level managers and officials, one of the sources said.

Many Saudis have cheered the purge as an attack on the theft of state funds by the rich, and U.S. President Donald Trump said those arrested had been "'milking' their country for years".

But some Western officials expressed apprehension at the possible ramifications for the secretive tribal and royal politics of the world's largest oil exporter.

Saudi Arabia's stock market continued to fall in early trade on Wednesday because of concern about the economic impact of its anti-corruption purge. The Saudi index.TASI was 1.0 percent lower after half an hour of trade. Shares in companies linked to people detained in the investigation slid further.

Late on Tuesday, Crown Prince Mohammed bin Salman and the Saudi central bank sought to ease worries about the crackdown.

They said that while individuals were being targeted and having their bank accounts frozen, national and multinational companies - including those wholly or partly owned by individuals under investigation - would not be disrupted.

Anti-corruption authorities have also frozen the bank accounts of Prince Mohammed bin Nayef, one of the most senior members of the ruling Al Saud, and some of his immediate family members, the sources added.

Prince Mohammed, or MbN as he is known, was ousted as Crown Prince in June when King Salman replaced him with the then Deputy Crown Prince Mohammed bin Salman.

Since Sunday, the central bank has been expanding the list of accounts it is requiring lenders to freeze on an almost hourly basis, one regional banker said, declining to be named because he was not authorised to speak to media.

Rights Concerns

MbN made his first confirmed public appearance since his ousting at the funeral on Tuesday for Prince Mansour bin Muqrin, deputy governor of Asir province, who was killed in a helicopter crash on Sunday. No cause has been given for the crash.

Among business executives detained in the probe so far are billionaire Prince Alwaleed bin Talal, chairman of investment firm Kingdom Holding; Nasser bin Aqeel al-Tayyar, founder of Al Tayyar Travel; and Amr al-Dabbagh, chairman of builder Red Sea International.

The U.S. State Department said on Tuesday it had urged Saudi Arabia to carry out any prosecution of officials detained in a "fair and transparent" manner.

Commenting on the purge, Human Rights Watch called on Saudi authorities to "immediately reveal the legal and evidentiary basis for each person's detention and make certain that each person detained can exercise their due process rights".

"It's great that Saudi authorities are declaring that they want to take on the scourge of corruption, but the right way to do that is through diligent judicial investigations against actual wrongdoing, not sensationalistic mass arrests to a luxury hotel," Right Watch official Sarah Leah Whitson in a statement.

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Political design behind Jamia, Shaheen Bagh protests to ruin nation's harmony: PM Modi

News Network

February 4,2020

Feb 4: Amid the agitations against Citizenship Amendment Act, National register of Citizens and National Population Registration across the country, Prime Minister Narendra Modi on Monday said that there is a "political design" behind all these protests including in Delhi's Jamia and Shaheen Bagh to ruin the harmony of the nation.

"Be it Seelampur, Jamia or Shaheen Bagh, protests held over the past several days regarding the Citizenship Amendment Bill. Is this just a coincidence? No. This is an experiment," said Prime Minister Narendra Modi in his first election rally for Delhi polls at Karkardooma.

"There is a political design behind all these protests including Jamia and Shaheen Bagh. These protests are a conspiracy to divide India. These protests are going to ruin the harmony of the nation," he asserted.

Lambasting the opposition parties including Congress and Aam Aadmi Party for supporting the ongoing protests, he said: "But AAP and Congress are provoking people. Constitution and tricolor are being kept in front and attention is being diverted from the real conspiracy."

"These people were doubting the ability of our forces during surgical strikes. Do citizens of Delhi want such people in power? These people are saving those who want to break India into pieces," he added.

People have been protesting at Jamia and Shaheen Bagh against CAA, NRC and NPR. Members of the Opposition have deemed CAA "discriminatory and anti-Constitution" while the Centre has maintained that the new law has no effect on Indian citizens.

Recently, two firing incidents took place near Jamia Millia Islamia University.On Sunday night, the firing incident was reported near gate number five at the university following which people including some students of the varsity gathered outside the Jamia Nagar police station. They returned from the Jamia Nagar police station after their complaint was registered.

Earlier, a student sustained injuries after a young man fired at the protestors near Jamia.

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Once again incorrect statement and only to divert people attention. Every one knows who is ruining image of our nation. this govt has completely failed in all aspects and trying to survive by misguiding the citizens. Economy is reaching zero and GDP is coming down day by day, Banks and industries on getting closed. youths are unemployed due to no chance. However, Govt is giving false statement that nothing to worry and our economy if growing. this govt has brought black bills of CAA and MPR only to divide the society and keep them engaged and forget the falling economy. If this situation continues, our nation will be one of the poorest countries in the world. This govt is trying to sell all Govt hold units like Railway, Insurance, etc to private companies only to help the industrialists and to get commission from them. LIC was running in profit till 4 to 5 years back, but now its running in loss. Huge amount of money from LIC is taken by Govt to hide the downfall of economy. Only God can save our country from the hands of present looters + decoits.

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With highest single-day spike of 49,310 cases, India's COVID-19 tally reaches 12,87,945

News Network

July 24,2020

New Delhi, Jul 24: India reported the highest single-day spike of 49,310 coronavirus cases on Friday, according to the Union Ministry of Health and Family Welfare.

The total COVID-19 positive cases stand at 12,87,945 including 4,40,135 active cases, 8,17,209 cured/discharged/migrated.
With 740 deaths in the last 24 hours, the cumulative toll reached 30,601.

Maharashtra has reported 3,47,502 coronavirus cases, the highest among states and Union Territories in the country. A total of 1,92,964 cases have been reported from Tamil Nadu till now, while Delhi has recorded 1,27,364 coronavirus cases.

According to the Indian Council of Medical Research (ICMR), 3,52,801 samples were tested for coronavirus on Thursday and overall 1,54,28,170 samples have been tested so far.

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Green shoots: Manufacturing PMI expands to 8-year high of 55.3 in January

News Network

February 3,2020

Bengaluru, Feb 3: India's manufacturing activity expanded at its quickest pace in nearly eight years in January with robust growth in new orders and output, a private survey showed on Monday, suggesting the economy may be getting back on firmer footing.

In response to the jump in sales, factories hired new workers at the fastest rate in more than seven years.

If sustained, the improvement in business conditions could point to a gradual economic recovery in coming months, as forecast by analysts in a Reuters poll last month, after growth slowed to a more than six-year low in the July-September quarter.

The Nikkei Manufacturing Purchasing Managers' Index , compiled by IHS Markit, jumped to 55.3 last month from 52.7 in December. It was the highest reading since February 2012 and above the 50-mark separating growth from contraction for the 30th straight month.

"The PMI results show that a notable rebound in demand boosted growth of sales, input buying, production and employment as firms focused on rebuilding their inventories and expanding their capacities in anticipation of further increases in new business," Pollyanna De Lima, principal economist at IHS Markit, said in a news release.

A new orders sub-index that tracks overall demand hit its highest level since December 2014 and output grew at its fastest pace in over seven and a half years, pushing manufacturers to hire at the strongest rate since August 2012.

Meanwhile, both input costs and output prices rose at a slower pace, indicating overall inflation may have eased after hitting a more than five year high of 7.35% in December, although probably not below the Reserve Bank of India's medium-term target of 4%.

That might keep the central bank, which cut its key interest rate by a cumulative 135 basis points last year, on the sidelines over the coming months.

"To complete the good news, there was also an uptick in business confidence as survey participants expect buoyant demand, new client wins, advertising and product diversification to boost output in the year ahead," added De Lima.

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