Saudi Arabia stresses need for enhanced cooperation in global fight against terrorism

Arab News
May 24, 2019

Jeddah, May 24: The fight against terrorism remains a global priority, Saudi Arabia said on Thursday, as the Kingdom emphasized the need for the international community to work together to eradicate the threat it poses.

The comments were included in a speech delivered by the Saudi delegation at the 28th session of the Commission on Crime Prevention and Criminal Justice in Geneva. Led by Interior Ministry adviser Abdullah Al-Ansari, the delegates presented a review of the Kingdom’s efforts in the realms of crime prevention and criminal justice. They highlighted the fact that no effort is being spared in the fight against terrorism, which is a high priority for the nation.

The Saudis also stressed the need for continued international cooperation to defeat terrorism, and said that the Kingdom has ratified most of the international measured designed to combat the threat. The country has also implemented a number of anti-terror measures, including: the establishment of a Presidency of State Security to address security challenges, in particular those posed by terrorism and its financing; the founding of a National Cybersecurity Authority to address cyber threats; and the amendment of counterterrorism laws.

The commission heard that the Kingdom’s security services had uncovered and disrupted active terrorist cells across the country. In addition, a number of initiatives have been developed to address the problem of returning terrorist fighters. These include the Terrorist Financing Targeting Center, the members of which includes the GCC states, and which is jointly led by Saudi Arabia and the United States. It maintains strict control over the banking sector, ensures the proper organization of the charitable sector, and imposes sanctions on those found guilty of financing terrorism.

The delegation pointed out that the Kingdom continues to lay the foundations for a long-term strategy to defeat extremism. This includes the founding of the Global Center for Combating Extremist Ideology, and the expansion of anti-extremism programs through the King Abdul Aziz Center for National Dialogue to address the growing threat of radicalization and recruitment of young people by armed militias such as Daesh.

At the international level, the Kingdom has pledged $100 million to support the G5 Sahel counterterrorism task force in West Africa, and is a founding member of the Global Counterterrorism Forum. In addition, Saudi experts participate in joint military programs targeting terrorism around the world.

The country also hosted a meeting of the Islamic Military Counter Terrorism Coalition to address the ideological, financial, military and media aspects of the fight against terrorism, and the Ministry of Interior has implemented numerous judicial and legal assistance requests to assist in the battle.

A number of draft resolutions arose from the session, the most important of which included: technical assistance for the implementation of international counterterrorism conventions; combating the online sexual exploitation and abuse of children; strengthening technical assistance and international cooperation to combat cybercrime; and the adoption of preparations for the 14th UN Congress on Crime Prevention and Criminal Justice in April 2020 in Kyoto, Japan. During discussions about these resolutions, most of the amendments suggested by the Kingdom were adopted to strengthen international cooperation.

The Saudi delegates also held meetings with officials from the UN Office on Drugs and Crime, including officials from the Office to Monitor and Combat Trafficking in Persons, and the Bureau of Counterterrorism. They discussed ways to enhance cooperation and enhance the capability of law-enforcement officers to combat such crimes.

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News Network
May 19,2020

Abu Dhabi: The United Arab Emirates today reported 873 new coronavirus cases, pushing the total number of COVID-19 infections in the country to 25,063.

Three more people have died from the virus, bringing the total death toll to 227, the ministry revealed, adding that a total of 1,214 COVID-19 patients have made full recovery, which takes the overall number of patients recovered to 10,791.

The latest coronavirus patients, all of whom are in a stable condition and receiving the necessary care, were identified after conducting more than 38,000 additional COVID-19 tests among UAE citizens and residents over the past few days, the ministry said.

It expressed its sincere condolences to the families of the deceased and wished a speedy recovery to all patients, calling on the public to cooperate with health authorities and comply with all precautionary measures, particularly social distancing protocols, to ensure the safety and protection of the public.

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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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KT
April 14,2020

Dubai, Apr 14: Saudi Arabia reported 435 new cases of coronavirus, bringing the total number of infections in the country to 5369, the Ministry of Health announced on Tuesday.

According to the ministry of health the number of recoveries today are 84 cases, making total of recoveries in the kingdom 889.

The ministry also confirmed 8 deaths bringing the total number of deaths in the kingdom to 73.

Saudi Arabia imposed a 24-hour curfew and lockdown on the cities of Riyadh, Tabuk, Dammam, Dhahran and Hofuf and throughout the governorates of Jeddah, Taif, Qatif and Khobar. This week the curfew was extended until further notice.

Containment efforts
Saudi authorities are racing to contain an outbreak of coronavirus in the Islamic holy city of Mecca.

The total number of coronavirus cases reported in Mecca, home to 2 million people, reached 1,050 on Monday compared to 1,422 in the capital of Riyadh, a city more than three times the size. Mecca’s large number of undocumented immigrants and cramped housing for migrant workers have made it more difficult to slow the infection rate.

Saudi Arabia has reported one of the lowest rates of infection in the region, with around 5,000 cases in a population of over 30 million.

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