Saudi wants US to launch 'surgical strike' on Iran

Agencies
May 17, 2019

Dubai, May 17: Saudi Arabia accused Tehran of being behind a drone strike that shut down a key oil pipeline in the kingdom, and a newspaper close to the palace called for Washington to launch “surgical” strikes on Iran, raising the spectre of escalating tensions as the US boosts its military presence in the Persian Gulf.

Concerns about the possible conflict have flared after the US dispatched warships and bombers to the region to counter an alleged but unspecified threat from Iran. There also have been allegations that four oil tankers were sabotaged on Sunday off the coast of the United Arab Emirates, and Iran-aligned rebels in Yemen claimed responsibility for Tuesday’s attack on the Saudi pipeline.

Fears have grown out of President Donald Trump’s decision last year to withdraw the US from the 2015 nuclear accord between Iran and world powers and impose wide-reaching sanctions — the latest levied as recently as last week — that have crippled Iran’s economy.

But Trump took a soft tone Thursday, a day after tweeting that he expected Iran to look for talks. Asked if the US might be on a path to war with the Iranians, the president answered, “I hope not.”

Saudi prince Khalid bin Salman, who is King Salman’s son and the country’s deputy defence minister, tweeted that the drone attack on two Saudi Aramco pumping stations running along the East-West pipeline were “ordered by the regime in Tehran, and carried out by the Houthis” — a reference to the Yemeni rebel group.

A state-aligned Saudi newspaper went further, running an editorial calling for “surgical” US strikes on Iran in retaliation. Iran has been accused by the US and the UN of supplying ballistic missile technology and arms to the Houthis, which Tehran denies.

The front-page editorial in the Arab News, published in English, said it’s “clear that (US) sanctions are not sending the right message” and that “they must be hit hard,” without elaborating on specific targets. It said the Trump administration had already set a precedent with airstrikes in Syria, when the government there was suspected of using chemical weapons.

Ali Shihabi, who runs the Saudi-leaning Arabia Foundation in Washington, said there’s a sense that if the Iranians can get away with targeting Saudi oil infrastructure, then “the whole security infrastructure in the Gulf will be called into question and security premiums on oil will rise.”

He said it would seem that Riyadh would like to coordinate with Washington how it responds to Iran, but “eventually what may happen is that just Saudi Arabia and the UAE may have to do something.”

“Nobody is going to start a war with them (Iran), but I think they should be defanged and, you know, things like their naval capabilities, things like their missile capabilities should be downgraded at least to make their capacity to inflict such dangerous activity more painful, more costly,” Shihabi said.

Saudi crown prince Mohammed bin Salman, who also is defence minister and controls major levers of power in the Sunni kingdom, has not commented publicly on this week’s incidents. In a Saudi TV interview in 2017, he said the kingdom knows it is a main target of Shiite Iran and there is no room for dialogue with Tehran.

A top Emirati diplomat said late Wednesday the Saudi-led coalition fighting the Houthis in Yemen would “retaliate hard” for attacks on civilian targets, without elaborating. However, Anwar Gargash also said the UAE is “very committed to de-escalation” after the alleged sabotage of the tankers off the country’s coast. He declined to blame Iran directly, although he repeatedly criticised Tehran.

In response to the oil pipeline attack, the coalition said it launched airstrikes on Houthi targets in the rebel-held capital, Sanaa, killing at least six people, including four children. At least 40 other people were wounded, according to Yemen’s Health Ministry.

Residents of Sanaa scrambled to pull wounded people from the rubble of a building hit by the airstrikes. Fawaz Ahmed told The Associated Press he saw three bodies — a man, a woman and a child, all buried together.

The coalition, which includes the UAE, has been at war with the Houthis since 2015, carrying out near-daily airstrikes. The pipeline attack marked one of the rebels’ deepest and most significant drone strikes inside Saudi territory since the conflict began.

Washington already has warned shipping companies that “Iran or its proxies” could be targeting maritime traffic in the Persian Gulf region and said it deployed an aircraft carrier strike group and B-52 bombers there to counter the threat.

Last week, US officials said they had detected signs of Iranian preparations for potential attacks on US forces and interests in the Middle East but did not provide any evidence to back up the claims.

The US State Department has ordered all nonessential government staff to leave its embassy and consulate in Iraq. Germany and the Netherlands both suspended their military assistance programs in the country in the latest sign of tensions.

Iraq is home to powerful pro-Iranian militias, while also hosting more than 5,000 US troops. The US military’s Central Command said its troops were on high alert, without elaborating.

European nations have urged the US and Iran to show restraint. Also, a senior British officer in the US-backed coalition fighting the Islamic State group, Maj Gen. Chris Ghika, said earlier this week that there had been no increased threat from Iranian-backed forces in Iraq and Syria. His comments exposed international skepticism over the US military buildup.

Iranian Foreign Minister Mohammad Javad Zarif said during a visit to Tokyo that Iran has the right to respond to the “unacceptable” US sanctions, but has exercised “maximum restraint.” Speaking about Iran’s nuclear deal with world powers, Zarif was quoted as also saying: “A multilateral deal cannot be treated unilaterally.”

Iran recently said it would resume enriching uranium at higher levels if a new nuclear deal is not reached by 7 July. That would potentially bring it closer to being able to develop a nuclear weapon, something Iran insists it has never sought.

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News Network
March 10,2020

Mar 10: Indian energy tycoon Mukesh Ambani is no longer Asia’s richest man, relinquishing the title to Jack Ma after oil prices collapsed along with global stocks.

The rout, exacerbated by mounting fears that the spread of the novel coronavirus will thrust the world into a recession, erased $5.8 billion from Ambani’s net worth on Monday and pushed him to No. 2 on the list of Asia’s richest people, according to the Bloomberg Billionaires Index. Ma, the Alibaba Group Holding Ltd. founder who relinquished the No. 1 ranking in mid-2018, is back on top with a $44.5 billion fortune, about $2.6 billion more than Ambani.

Oil plunged the most in 29 years on Monday as Saudi Arabia and Russia vowed to pump more in a struggle for market share. The slump comes just as the coronavirus is spurring the first decline in demand in more than a decade. That raises questions about whether Ambani’s flagship Reliance Industries Ltd. will be able to cut net debt to zero by early 2021, as he has pledged. The plan hinges on a proposal to sell a stake in the group’s oil and petrochemicals division to Saudi Arabian Oil Co., the world’s biggest crude producer.

While the coronavirus has curtailed some of tech giant Alibaba’s businesses, the damage has been mitigated by increased demand for its cloud computing services and mobile apps.

Reliance Industries, by comparison, has no such silver lining. The Indian conglomerate’s shares plunged 12% on Monday, the most since 2009, extending this year’s decline to 26%. Alibaba’s American depositary receipts have slipped 6.8% so far in 2020.

Ma reclaims crown after Reliance shares were pummeled in 2020.

Few of the world’s billionaires fared well in Monday’s collapse as the S&P 500 Index and Dow Jones Industrial Average each plunged more than 7.5%, the most since the 2008 financial crisis, threatening to end the longest bull market in history. But no one did worse than those whose fortunes are underpinned by oil. Wildcatter Harold Hamm’s fortune was cut almost in half to $2.4 billion and fellow oil magnate Jeff Hildebrand lost $3 billion, bumping both from Bloomberg’s 500-member wealth ranking.

In a pivot toward new businesses such as telecommunications, technology and retail, Ambani’s Reliance Industries has piled on billions of dollars of debt over the years.

It spent almost $50 billion -- most of it funded by borrowings -- to build Reliance Jio Infocomm Ltd., which became India’s No. 1 wireless carrier within about three years of its debut. As the mobile venture took off, Ambani also unveiled plans for an e-commerce empire to rival Amazon.com Inc. in India.

Addressing concerns over the liabilities, Ambani pledged in August to cut the group’s net debt to zero from about $21 billion as of last March. The Aramco deal is crucial to that plan for which Reliance Industries has valued its oil-to-chemicals division at $75 billion including debt, implying a $15 billion valuation for the 20% stake that’s for sale.

Signs of a potential delay to that deal unnerved some investors, hammering the stock since it touched a record high on Dec. 19.

Reliance Industries expected the Aramco transaction to be completed by March, but people familiar with the matter said in February that talks were still ongoing to bridge differences between the two parties over the deal’s structure.

Adding to the uncertainty, Indian Prime Minister Narendra Modi’s administration has petitioned a court to halt the proposed stake sale, threatening a key source of funds needed to pare net debt.

But Ambani, 62, may soon bounce back from the setback, said Harish H.V., managing partner at ECube Investment Advisors in Bengaluru, India.

“The game isn’t over,” he said. “Ambani has successfully built a robust business model which would keep him in the game. Moreover, his telecom business will start yielding results in coming years.”

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SmR
 - 
Tuesday, 10 Mar 2020

The curses of the bank depositors savings which vanished with collapsing economy and fraudlent seems to have gradully affecting riches of Ambani's.

 

AU
 - 
Tuesday, 10 Mar 2020

in Holy Quran Allah says; but they plan and Allah plans, and Allah is the best planners..(Surah Al Anfal 8:30)

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News Network
February 16,2020

Washington, Feb 16: India and the United States share "unshakeable" ties, said US Principal Deputy Assistant Secretary (PDAS), Alice Wells, on Sunday, adding that the upcoming visit of President Donald Trump will further strengthen the relationship between the two countries.

"The U.S. and #India enjoy a close partnership that grows stronger day by day. Together, we are breaking records. For example, we welcomed a record number of Indian exchange students to the US last year and hope to receive even more this year," said Bureau of South and Central Asian Affairs in a tweet attributed to Alice Wells.

"The ties between our countries are unshakeable, and we look forward to an even warmer relationship as @narendramodi hosts @POTUS later this month," it added.

Trump will pay a two-day state visit to India from February 24 at the invitation of Prime Minister Narendra Modi.

"India is at the heart of the Indo-Pacific region and plays an increasingly prominent role on the world's stage. The U.S. looks forward to partnering with #India at every step of the way, " Alice Wells further said.

According to the Ministry of External Affairs (MEA), Trump is expected to attend an event at the Motera Stadium in Ahmedabad on the lines of the ''Howdy Modi'' function that was addressed by the US President and PM Modi in Houston in September last year. Trump is slated to pay a two-day visit to India from February 24.

During the visit, Trump, who will be accompanied by First Lady Melania, will attend official engagements in New Delhi and Ahmedabad, and interact with a wide cross-section of the Indian society, the MEA said in a statement.

The announcement of Trump's first official visit to India was earlier made by the White House on Monday, which, in its statement, said that the US President and Modi had agreed during a recent phone conversation that the trip will "further strengthen the United States-India strategic partnership and highlight the strong and enduring bonds between the American and Indian people".

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News Network
May 17,2020

New Delhi, May 17: Spelling out the government’s fourth tranche of initiatives towards achieving Prime Minister Narendra Modi’s vision of ‘Atmanirbhar Bharat’, Union Finance Minister Nirmala Sitharaman on Saturday announced significant structural reforms in eight sectors of the economy — coal, minerals, defense production, aviation, power distribution in Union territories, space and atomic energy.

Addressing her fourth and the second-last press conference, Sitharaman said crucial sectors such as coal production and exploration, defence production and space would see an increased participation from private entities.

Coal sector:

In the realm of coal exploration, the government has decided to liberalise the entry norms for private entities, which would mean that any interested party could bid for a coal block and sell it in the open market. The minister said that the government would do away with all the eligibility conditions at the time of bidding for a coal block, except requiring an “upfront payment with a ceiling.”

Nearly 50 coal blocks would be offered to private players immediately, revealed Sitharaman.

She further said that Rs 50,000 crore would be spent by Centre in creating ‘coal evacuation’ infrastructure, which would expedite the transport of mined product to the destination.

Defence sector:

In defence production, Sitharaman revealed that the government would raise the foreign direct investment (FDI) limit in the sector from current 49 per cent to 74 per cent. Further, the government would also work towards corporatising the ordnance factory boards. “Corporatising doesn’t amount to privatization,” added Sitharaman.

In a bid to boost indigenous production of defence products and gave an impetus to Make in India, Sitharaman said that the government was in a process of notifying a list of weapons/platforms for an import ban with year-wise timelines.

These decisions would also help in reducing huge import bills, the finance minister said.

Privatisation of electricity:

In another announcement that could have an effect on electricity charges in the union territories, Union Finance Minister Nirmala Sitharaman announced on Saturday that power departments and utilities in all the centrally administered territories would be privatised.

Sitharaman said that the proposed move would lead to better service to consumers and improvement in operational and financial efficiency in distribution.

The finance minister said that decision was guided by 'sub-optimal' utilisation of performance of power distribution and supply'.

She said that the move to that effect would provide a model for emulation by other utilities across the country, in what could be an indicator of what's in the pipeline for utilities in other states as well.

Sitharaman said that the privation reform was in line with the tariff policy reforms and would help in enhancing consumer rights, promote industry and improve the overall sustainability of the sector.

Space sector:

Sitharaman also announced the opening up of the space exploration sector for private players. Till date, the government-run Indian Space Research Organisation (ISRO) has held a monopoly on all activities concerning space exploration and satellite launches.

The Indian private sector will be a co-traveller in India's space sector journey, said Sitharaman, while announcing a series of structural reforms in eight crucial areas of the economy. The Union Finance Minister was addressing her fourth press conference in as many days, as a follow-up towards realising Prime Minister Narendra Modi's vision of 'atmanirbhar Bharat', which was spelled out in his video address on May 12.

Sitharaman said that the reforms in the space sector will provide a level-playing field for private companies in satellite launches and space-based services.

She said that the private sector would be allowed to use ISRO facilities and other assets to improve their capacities. Stating that the government would provide predictable policy and regulatory environment to private players, Sitharaman also disclosed that future projects for planetary exploration and outer space travel among others would be opened up for private entities.

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