Saudi Cabinet slams chemical attack in Syria, expresses support for US military strike

April 11, 2017

Riyadh, Apr 11: The Saudi Cabinet on Monday condemned the use of the chemical attack on Khan Sheikhun in Syria, which resulted in many deaths including children and women, committed by the Syrian regime and, expressing full support to the recent US military operation against selected targets in Syria was articulated.

kingThe Kingdom’s long-standing rejection of terrorism in all forms and manifestations was stressed upon. They condemned the two explosions in Egypt and similar terrorist attacks in St. Petersburg, Russia, and Stockholm, Sweden, which resulted in several deaths and injuries.

The Cabinet also lauded the Arab Coalition forces’ support for restoration of peace and stability in Yemen as well as the Kingdom’s humanitarian efforts through King Salman Center for Humanitarian and Relief Aids, and stressed what the deputy crown prince highlighted earlier during his meeting with key Yemeni tribal chiefs that the Kingdom sees Yemen as strategic depth for the Arab and GCC countries as well as the Kingdom; and it is a duty to stand by the Yemeni people against Houthi aggression.

The Kingdom’s keenness to contribute to Arab joint action which was embodied in the Memorandum of Understanding (MoU) was also highlighted; it was for the establishment of a common Arab market for electricity, within 14 countries, during the 12th Arab ministerial council for electricity in Cairo.

The Cabinet also appreciated the king’s efforts to unify Arab and Muslim ranks in facing the difficult conditions experienced by Arab and Islamic countries.

He was praised for awarding Prince Naif, the Order of Arab Security at the conclusion of the 34th Arab Interior Ministers meeting in Tunis, for his leading role in supporting Arab and Islamic causes, and his efforts in preserving international peace and security.

The Cabinet noted recommendations and decisions issued at the Arab Interior Ministers meeting including Arab strategies on combating illegal use of drugs, terrorism, traffic safety and intellectual security.

On a local level, the Cabinet welcomed the announcement made by Deputy Crown Prince Mohammed bin Salman on launching the largest cultural, sports and entertainment city in southwest Riyadh in support of Vision 2030, and diversifying the sources of national income.

Later, the Cabinet approved a series of decisions.

They authorized the minister of foreign affairs to hold political consultations (and sign an MoU) between the Saudi and Filipino foreign ministries.

They authorized the minister of environment, water and agriculture to cooperate in the area of agriculture and fisheries between the governments of Saudi Arabia and South Africa, and sign an MoU.

The Cabinet approved an MoU for joint cooperation in the area of housing between the Saudi Ministry of Housing and the South Korean Ministry of Land, Transport and Infrastructure.

The Cabinet also approved a similar MoU for joint cooperation in the area of housing between the governments of Saudi Arabia and People’s Republic of China.

They authorized the minister of education to discuss scientific and educational cooperation between the Saudi and UAE ministries of education, and sign an MoU.

The Cabinet authorized the president of the National Anti-Corruption Commission (Nazaha) to discuss an MoU with the United Nations Office on Drugs and Crime.

They approved that the General Authority for Sports be structurally linked to President of the Council of Economic Affairs.

The Cabinet approved Saudi Arabia’s accession to the international convention for the control and management of ships’ ballast water and sediments for 2004.

The Cabinet approved that state budget will bear the entry visa fee for seasonal workers on the sacrificial meat project.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
May 7,2020

Dubai, May 7: The holy month of Ramadan is expected to be a 30-day month this year, said Ibrahim Al Jarwan, member of the Arab Union for Astronomy and Space Sciences.

According to Arabic daily Emarat Al Youm, he said that Sunday, May 24, will mark the end of the holy month of Ramadan and the beginning of Shawwal.

Additionally, he said that the crescent of Shawwal will occur on Friday, May 22, at 9.39pm, after sunset, and will be visible on Sunday, May 24, the beginning of Shawal, which makes Ramadan a 30-day month this year.

He added that the next Ramadan is expected to start on April 13, 2021, and the one after that on April 2, 2022.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
KT
June 30,2020

Dubai, Jun 30: The UAE Embassy in India on Tuesday urged expats stranded in India to procure travel approvals from the Federal Authority for Identity and Citizenship (ICA) in the UAE ahead of their travel to the UAE.

It has also assured UAE residence visa holders that a no-objection letter to travel would be issued on a humanitarian basis, as long as the resident meets all conditions set by the government of UAE.

The UAE Embassy in New Delhi tweeted Tuesday morning, "The @UAEembassyIndia would like to draw the attention of the valid UAE residence permit holders currently present in India, to the necessity of obtaining necessary approval from the @ICAUAE while ensuring that all conditions set by the UAE competent authorities are observed."

It added, "Please note that UAE will issue no objection letter to travel in some humanitarian cases only that meet all conditions and requirements."

The embassy also affirmed its commitment to the decisions of the Indian authorities regarding the continued closure of airports in India, and implementation of some restrictions that do not allow foreign airlines to carry passengers.

"We express our thank for your cooperation and your understanding of the current global situation, and in case there is any developments in this regard, we will publish it on the official platforms of embassy (sic)," the Embassy tweeted.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
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.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.