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Saudi Arabia mourns war hero

October 2, 2016

Jeddah, Oct 2: The nation on Saturday mourned the loss of a Saudi security officer who laid down his life defending the border. At the same time, the Kingdom felt proud of its forces who foiled a massive Houthi attack on the southern border.

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Interior Ministry spokesman Maj. Gen. Mansour Al-Turki said Cpl. Nader bin Ahmed Abdullah Ali was injured when projectiles launched by the Houthis landed in Twaal, Jazan on Thursday. He died before he could be rushed to hospital. Al-Turki said the Saudi border guards countered the attack in coordination with the Saudi ground forces.

Saudi forces on Saturday foiled a 9-hour attack launched by Houthi militants and militias loyal to deposed Yemeni President Ali Abdullah Saleh near Mawsem village in the Jazan region.

Saudi gunships, supported by members of the Saudi-led coalition, thwarted the attack that took place in a very unhelpful weather.

The battle resulted in the killing of a Houthi leader and over 40 militiamen. The Saudi gunfire destroyed their vehicles at their positions.

Mawsem village with a population of 500 people is situated at the Saudi-Yemeni border.

The coalition's warplanes continued the mop-up operation for 30 minutes after the battle ended, according to Al Arabiya.

Ahmad Bakil, a senior official of Yemen’s Popular Resistance Committees, said the Houthis try to put pressure on the coalition through border attacks.
The Houthis and their armed backers from the Saleh faction know their attacks cannot succeed, but attack nevertheless to cover up for their very poor military situation in Yemen, he explained.

Speaking to Arab News, Bakil said: "The Houthis try to improve their political standing by launching random attacks on Saudi borders to compensate for their losses in Yemen. The Saudi-led coalition has hit the Houthi military infrastructure. The Houthis also lost many leaders in battles and their military capabilities have been destroyed.”

In another development, the Saudi-led force in Yemen said it rescued passengers on Saturday from a vessel being used by the UAE military that was attacked by the Houthis in a strategic Red Sea shipping lane.

“The coalition rescued civilians from a vessel targeted by Houthi militias ... that was transferring medical aid to the city of Aden and evacuating wounded civilians for treatment,” the coalition said in a statement to SPA.

The UAE military said on Saturday one of its vessels had been involved in an “incident” near the Bab Al-Mandab strait off Yemen’s southern coast but none of its crew had been hurt.

Separately, a suicide bomber blew himself up near a cinema in the port city of Aden on Saturday, killing one person and wounding three others, residents and a local official said.

There was no immediate claim of responsibility for the bombing in Aden's Crater district, which was carried out by an attacker wearing an explosive belt.

Terrorists, including Daesh, have exploited an 18-month civil war between the Yemeni government and the Houthi militias.

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Agencies
July 28,2020

Dubai, Jul 28: Abu Dhabi Commercial Bank (ADCB) (ADCB.AD) is letting go hundreds of employees, sources said, the latest in a round of lay-offs by regional banks as pressure mounts to cut costs amid lower oil prices and the coronavirus crisis.

The UAE’s third-biggest lender is laying off 400 employees, two sources familiar with the matter said, after it had committed to not cutting staff because of the crisis.

In a statement, a spokesman said ADCB had pursued efficiency over the last decade by managing out its lowest underachievers after regular reviews, while ensuring talent was deployed in high-growth areas, such as digital banking.

“A certain number of redundancies are therefore expected every year in the normal course of business,” the bank spokesman added.

The sources said the cuts would involve ADCB’s consumer business and several in top management were among those being let go. One source said the bank was looking to close 20 branches.

In March, ADCB had declared, “No employee will be made redundant during 2020 as a result of the COVID-19 pandemic.”

UAE banks have been hit by government measures to rein in the spread of the virus, forcing many businesses to shut temporarily.

Last week, Dubai’s largest bank, Emirates NBD, reported a slump of 58% in profits. In June, sources told Reuters the bank started a new round of hundreds of lay-offs.

In May, ADCB reported a fall of 84% in first-quarter net profit as it took impairments of $292 million on debt exposure to troubled hospital operator NMC Health and payments group Finablr.

It was a major lender, with an exposure of about $981 million, to NMC Health, which went into administration this year after months of turmoil following questions over financial reporting.

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News Network
March 18,2020

Dubai, Mar 18: Emirates, one of the world's biggest international airlines, has asked pilots to take unpaid leave to help it mitigate the impact of the coronavirus pandemic that has shattered demand for global travel.

"To this end you are strongly encouraged to make use of this opportunity to volunteer for additional paid and unpaid leave," the airline said in an internal email to pilots, seen by Reuters.

Emirates earlier this month asked some staff to take unpaid leave, although at that time it was not available to pilots.

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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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