Saudi-led coalition accuses Houthis of Hodeidah hospital attack

Agencies
August 4, 2018

Riyadh, Aug 4: The Saudi-led coalition on Friday accused the Houthi militia of carrying out an attack on a hospital and fish market in Yemen that killed dozens of people. 

Coalition spokesman Col. Turki Al-Maliki said the Iran-backed group targeted the sites in the port of Hodeidah on Thursday with mortar shells in what he described as a “terrorist attack.” 

Initial reports said more than 20 people were killed in the attack which hit near Al-Thawra Hospital — one of the county’s biggest. But the Red Cross on Friday said the series of explosion in Hodeidah had killed 55 with dozens more injured.
Pro-Houthi media accused the Arab coalition of carrying out an airstrike on the hospital, but Al-Maliki strongly refuted the allegation.

“These targets were not from the coalition and the weaponry used was mortars, which are from the Houthis,” he said.

The spokesman presented evidence including pictures he said showed the Houthi mortars used in the attack and maps of Hodeidah showing coalition targets in relation to the location of the hospital.

He said the nearest Houthi position targeted by the coalition on the day of the hospital attack was a weapons storage facility 7.5km from the hospital, east of Hodeidah. A day earlier, on Tuesday, the coalition hit a target 2.5km away from the hospital. 

Hodeidah, the country’s largest port, is still held by the Houthis. Pro-government forces backed by the coalition were close to capturing the city before pausing the offensive last month to allow UN mediation efforts to continue. 

Al-Maliki said the UN had received “incorrect reports from invalid organizations” which had blamed the coalition.
He said the coalition had aways applied the highest international and humanitarian standards in its targeting operations in Yemen.

Earlier, Lise Grande, the UN humanitarian coordinator for Yemen, condemned the hospital attack as “shocking”.

“Hospitals are protected under international humanitarian law. Nothing can justify this loss of life,” she said, adding that hundreds of thousands of people depended on the hospital to survive.

On Thursday, Martin Griffiths, the UN envoy to Yemen, told a Security Council meeting that he had called for talks between the warring parties to take place on Sept. 6 in Geneva.
A Yemeni government official told AFP that the government would attend the meeting although it was “not optimistic” over the outcome.

Al-Maliki said the coalition had always sought to find a political solution, but that the Houthis continued aggression had hindered this.

“We have given them time for a political solution and also, many opportunities,” he said.  “We know that 22 million Yemenis have been devastated through this time. However, the real reasons behind the suffering of the people is the coup.”

“The collation shall continue its work to free Yemen and return the Yemeni land to the legitimate government.”  

The conflict in Yemen began when the Houthis seized the capital Sanaa in 2014 and forced the internationally recognized government to flee to Aden. The Arab coalition intervened in 2015 to return the country to the control of President Abed Rabbo Mansour Hadi.

Yemen’s war has killed nearly 10,000 people and triggered what the UN calls the world’s largest single humanitarian crisis.

On Friday, the World Health Organization warned that Yemen may be on the brink of a new cholera epidemic and called for a three-day truce to allow vaccinations.

“We’ve had two major waves of cholera epidemics in recent years and unfortunately the trend data that we’ve seen in the last days to weeks suggests that we may be on the cusp of the third major wave of cholera epidemics in Yemen,” WHO emergency response chief Peter Salama said in Geneva.

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News Network
May 5,2020

Dubai, May 5: A Saudi ministerial decision issued on Monday allows companies in the private sector to reduce salaries by 40 per cent and allows termination of contracts owing to the economic hardships resulting from the COVID-19 pandemic, according to daily newspaper Al Sharq Awsat.

The new decision was still not published by the cabinet according to the newspaper.

The decision which the newspaper saw a copy of was signed by Saudi Ministry of Human Resources and Social Development to regulate the labour contract in the current period, allows employers to reduce the employees salaries by 40 percent of the actual effective wage for a period of 6 months, in proportion to the hours of work and allowing the termination of employee contract after 6 months of the COVID-19 circumstances.

The new decision has also included a provision in which the employer would be allowed to cut wages even he or she benefits from the subsidy provided by the goverment, such as those for helping pay workers wages or exemption from government fees.

The decision also stressed that employers are not allowed to terminate any employee, unless three conditions are met.

1.            First the passing of six months since the measures of salary cut has been taken

2.            Reducing pay, annual leave and exceptional leave were all used

3.            Company proves that its facing financial troubles due to the circumstances.

The memo, which goes into affect as soon as its published in the government’s official newspaper, ensures that the employee will receive his/her salary if on annual leave within the period of 6 months.

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News Network
May 6,2020

A massive fire engulfed a residential tower in UAE's Sharjah last night. The building has been identified as one Abbco Tower in Al Nahda.

According to the latest inputs, Sharjah Civil Defence teams rushed to the spot and evacuated all residents. 

Firefighters managed to douse the blaze after several hours. The building in question is reportedly a 48-storey structure. Officials are yet to reveal the cause of the fire.

All residents of the building were evacuated while seven incurred minor injuries during the evacuation and were treated at local hospitals, reported the United Arab Emirates' local media.

More details are awaited as this is a developing story.

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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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