Saudi Crown Prince Lashes Out at Arch-Rival Iran over Tanker Attacks

Agencies
June 16, 2019

Riyadh, Jun 16: Saudi Crown Prince Mohammed bin Salman accused arch-rival Iran of attacks on oil tankers in a vital Gulf shipping channel, adding he "won't hesitate" to tackle any threats to the kingdom, according to an interview published on Sunday.

Two tankers were struck by explosions on Thursday in the Gulf of Oman, the second attack in a month in the strategic shipping lane amid a tense US-Iran standoff, sparking fears of a regional conflagration and sending oil prices soaring.

"We do not want a war in the region... But we won't hesitate to deal with any threat to our people, our sovereignty, our territorial integrity and our vital interests," Prince Mohammed told pan-Arab daily Asharq al-Awsat, in his first public comments since the attacks.

"The Iranian regime did not respect the presence of the Japanese prime minister as a guest in Tehran and responded to his (diplomatic) efforts by attacking two tankers, one of which was Japanese."

The prince also accused "Iran and its proxies" over May 12 attacks on four tankers anchored in the Gulf of Oman off the United Arab Emirates port of Fujairah.

Thursday's attack on two tankers -- the Japanese-owned Kokuka Courageous that was carrying highly flammable methanol when it was rocked by explosions and the Norwegian-operated Front Altair -- came around the time Japanese Prime Minister Shinzo Abe was meeting with Iranian leaders in Tehran.

US President Donald Trump has said the twin attacks had Iran "written all over it", rejecting Tehran's vehement denial.

Saudi Arabia, a close US ally, is a bitter regional rival of Iran.

The US military on Friday released grainy footage it said showed an Iranian patrol boat removing an "unexploded limpet mine" from one of the tankers.

The UAE's Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan on Saturday called on world powers "to secure international navigation and access to energy", a plea echoed by regional ally Saudi Arabia after the incident sent crude prices soaring.

Iran has repeatedly warned in the past that it could block the strategic Hormuz Strait in a relatively low-tech, high-impact countermeasure to any attack by the United States.

Doing so would disrupt oil tankers travelling out of the Gulf region to the Indian Ocean and global export routes.

The UAE's Sheikh Abdullah, whose country is bitterly opposed to Iranian influence in the region, called for a deescalation of tensions.

"We remain hopeful in attaining a broader framework for cooperation with Iran," he said at a summit in Bulgaria.

Meanwhile, Saudi Arabia's Energy Minister Khalid al-Falih called for a "swift and decisive" response to threats against energy supplies after Thursday's "terrorist acts".

Vessels Head To Port

The Japanese tanker's Tokyo-based operator Kokuka confirmed Saturday the stricken vessel was heading to port in the UAE.

"We still don't know if the tanker goes to Khor Fakkan or Fujairah as they are very close," said a spokesman, referring to two Emirati ports on the Gulf of Oman.

Maritime experts would then seek to transfer the highly flammable cargo to shore, according to an unnamed official quoted by Japanese state media.

"From a viewpoint of global energy security, it is necessary for the international community to jointly deal with the act," said Japanese trade minister Hiroshige Seko at a G20 energy and environment meeting in Japan on Saturday.

The other ship, the Front Altair, has left Iran's territorial waters, multiple sources said Saturday.

The ship is "heading toward the Fujairah-Khor Fakkan area in the United Arab Emirates", head of ports for Iran's southern province of Hormozgan told the semi-official news agency ISNA.

The tanker "has left Iran's territorial waters," he said, adding that it was being towed and sprayed with water to cool the hull.

A spokeswoman for Frontline Management, the Norwegian company which owns the ship, said "all 23 crew members of the tanker departed Iran" and flew to Dubai on Saturday.

"All crew members are well and have been well looked after while in Iran," she said.

'Allegations Against Iran'

Iranian Foreign Minister Mohammad Javad Zarif tweeted that the US had "immediately jumped to make allegations against Iran without a shred of factual or circumstantial evidence."

The United States has also accused Iran over May 12 sabotage attacks on four tankers anchored in the Gulf of Oman off Fujairah.

British Foreign Secretary Jeremy Hunt said London had concluded Iran was "almost certainly" responsible for Thursday's tanker attacks.

Iran's foreign ministry responded on Saturday by summoning British Ambassador Rob Macaire over Hunt's "false remarks", the official IRNA news agency reported.

UN Secretary-General Antonio Guterres called for an independent investigation.

"It's very important to know the truth (and) that responsibilities are clarified," he told reporters at UN headquarters in New York.

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News Network
April 27,2020

Riyadh, Apr 27: The government of Saudi Arabia has signed a SR995 million (approx. Dh972m) contract with China to provide Covid-19 tests for nine million people in the Kingdom.

The Saudi Press Agency, SPA, reported that the decision came "as a result of a phone call made today (Sunday) between the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and Chinese President Xi Jinping."

The contract includes providing necessary equipment and supplies, making available of 500 Chinese specialists and technicians who are specialised in performing tests, establishing six large regional laboratories throughout the Kingdom; including a mobile laboratory with a capacity of performing 10,000 tests per day. Saudi cadres will also be trained to conduct daily tests and comprehensive field tests, under the new agreement

The contract was co-signed by the National Unified Procurement Company and Chinese company Huo-yan Laboratories by Dr. Abdullah Al Rabeeah, Advisor at the Royal Court, on behalf of the Government of Saudi Arabia, and Chinese Ambassador to the Kingdom Chen Weiqing, as a representative of the Chinese Government.

The contract is one of the largest contracts that will provide diagnostic tests for the novel Coronavirus.

Tests were also purchased from several other companies from the United States, Switzerland and South Korea, bringing the number of available tests to 14.5 million, covering around 40 percent of Saudi Arabia's population, SPA added.

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News Network
June 19,2020

Jun 19: Billionaire Mukesh Ambani on Friday announced that his oil-to-telecom conglomerate Reliance Industries is now net debt-free after raising a record Rs 1.69 lakh crore from global investors and a rights issue in under two months.

Reliance raised Rs 1.15 lakh crore from global tech investors by selling a little less than a quarter of the firm's digital arm, Jio Platforms Ltd, and another Rs 53,124.20 crore through a rights issue in the past 58 days.

Taken together with last year's sale of 49 per cent stake in fuel retailing venture to BP Plc of UK for Rs 7,000 crore, the total fund raised is in excess of Rs 1.75 lakh crore, the company said in a statement.

Reliance had a net debt of Rs 1,61,035 crore as on March 31, 2020. "With these investments, RIL has become net debt-free," it said.

"I have fulfilled my promise to the shareholders by making Reliance net debt-free much before our original schedule of March 31, 2021," Ambani said.

Jio Platforms - which houses the country's youngest but largest telecom firm Reliance Jio, raised Rs 1,15,693.95 crore from leading global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton and PIF since April 22, 2020.

Saudi Arabian sovereign wealth fund PIF buying 2.32 per cent stake in the unit for Rs 11,367 crore on June 18 "marks the end of Jio Platforms' current phase of induction of financial partners," the statement said.

Alongside, Reliance launched India's biggest right issue, which was subscribed to 1.59 times.

Though the rights issue size was Rs 53,124 crore, the company has got only 25 per cent of the money as the remaining is to be paid only next fiscal.

Ambani had at the company's annual general meeting on August 12, 2019, announced a roadmap for Reliance to become a net debt-free company before March 31, 2021.

"We have a very clear roadmap to becoming a zero net-debt company within the next 18 months that is by March 31, 202," he had said last year highlighting strong interest from strategic and financial investors in consumer businesses, Jio and Reliance Retail.

In the statement on Friday, he said he was both delighted and humbled to announce the fulfillment of the promise.

"Exceeding the expectations of our shareholders and all other stakeholders, again and yet again, is in the very DNA of Reliance," he said.

"Therefore, on the proud occasion of becoming a net debt-free company, I wish to assure them that Reliance in its Golden Decade will set even more ambitious growth goals, and achieve them," he added.

He said over the past few weeks, phenomenal interest was received from the global financial investor community in partnering with Jio.

"As our fundraising milestone from financial investors is achieved, we sincerely thank the marquee group of financial partners and warmly welcome them into Jio Platforms," he said.

"I also express my heartfelt gratitude to all the retail and institutional investors, both domestic and foreign, for their overwhelming participation in our record-setting Rights Issue," he added.

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News Network
July 25,2020

New Delhi, Jul 25: India reported a spike of 48,916 coronavirus cases on Saturday, according to the Union Ministry of Health and Family Welfare.

The total COVID-19 positive cases stand at 13,36,861 including 4,56,071 active cases, 8,49,431 cured/discharged/migrated. With 757 deaths in the last 24 hours, the cumulative toll reached 31,358.

Maharashtra has reported 3,57,117 coronavirus cases, the highest among states and Union Territories in the country.

A total of 1,99,749 cases have been reported from Tamil Nadu till now, while Delhi has recorded a total of 1,28,389 coronavirus cases.

According to the Indian Council of Medical Research (ICMR), 4,20,898 samples were tested for coronavirus on Friday and overall 1,58,49,068 samples have been tested so far.

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