Iran death toll rises as protests continue; hundreds arrested

Al Jazeera
January 2, 2018

Tehran, Jan 2: A number of Iranians have died  amid ongoing nationwide anti-government protests that began last week in various cities across Iran.

Nine Iranians were killed in Isfahan province alone during anti-government protests on Monday night.

State TV said on Tuesday that six people were killed in Isfahan's central town Qahderijan - during a raid on a police station - and one more in Khomeinishahr.

According to state media, the rioters were attempting to break into the station to obtain weapons.

An 11-year-old boy and a 20-year-old man were among those killed in Khomeinishahr.

In addition, Iran's semi-official Mehr news agency said a member of Basij militia and a police officer were killed in Najafabad, 350km south of the capital Tehran, on Monday.

According to reports, an Iranian Revolutionary Guard Corps (IRGC) soldier was shot by an assailant using a hunting rifle in Najafabad.

Al Jazeera could not independently verify whether the IRGC member was the same police officer who was reported as being shot.

Overall, at least 21 people have died in Iran during six days of protests, according to state media.

In the same period, at least 20 people have been killed and about 450 people n arrested, with the Tehran governor's deputy giving the following breakdown: 200 on Saturday; 150 on Sunday; and 100 on Monday.

The detention figures for other Iranian cities were not available.

Khamenei's comments

On Tuesday, Iran's top authority, Supreme Leader Ayatollah Ali Khamenei, accused "enemies" of the state of stirring unrest in the country.

He said that "enemies" of Iran have allied and used the various means they have available including "money, weapons, politics, and intelligence services" to stir unrest as nationwide anti-government rallies continue.

"The dignity, security, and progress of the Iranian nation is owed to the self-sacrifice of the martyrs. What prevents enemies from exerting their atrocities is the spirit of courage, sacrifice, and faith within the nation," he said in a statement posted on his official website.

"I have something to say on these events, and I will speak to the dear people when the time is right.

"The Iranian nation will forever owe the dear martyrs, who left behind their homes and families, to stand against the wicked enemies."

Despite threats by the IRGC to put down the demonstrations, protesters have continued taking to the streets in various parts of Iran, in what has been described as the biggest show of dissent in the country since huge rallies took place in 2009.

The rallies began on December 28 in the second-largest city of Mashhad, prompted by anger over rising cost of living and the state of the economy.

"We cannot predict a time when the protests will come to an end," said Sadegh Zibakalam, an author and academic.

"But the protests will shake the people in power who must give priority to the people's demands and needs."

On Sunday, President Hassan Rouhani said Iranians have the right to protest but not violently.

"People are free to express their criticism and to protest," he said in televised remarks, his first since the rallies began.

"However, we need to pay attention to the manner of that criticism and protest. It should be in such a way that it will lead to the improvement of the people and state," he added.

"People have the right to protest, but those demonstrations should not make the public feel concerned about their lives and security."

Why are there protests taking place in Iran?

In May 2017, Rouhani, who belongs to the reformist bloc of Iran's political spectrum, decisively won re-election after garnering 57 percent of the vote in the country's presidential election.

That poll was the first since Rouhani negotiated a historic deal with world powers in 2015 to curb Iran's nuclear programme in exchange for sanctions relief.

Many in Iran hoped that the deal, by lifting many international sanctions, would ease the country's financial struggles. Yet, the benefits do not seem to have trickled down.

Ali Vaez, the Iran project director at the International Crisis Group who worked with all sides during the negotiations for the nuclear deal, said the fact that the nuclear deal did not quite deliver the results people expected played a key part in what is happening currently in Iran.

"The government inflated public expectations a lot," Vaez told Al Jazeera, noting that factors such as falling oil prices and doubts over the US commitment to the deal were also adversely affecting the Iranian economy.

"The reality is, however, that President Rouhani failed to pave the ground for the potential the nuclear deal created, and that has led to a lot of frustration in Iran," he said.

"President Rouhani over-promised and under-delivered."

Mohammad Ali Shabani, an Iranian political analyst and scholar, agreed.

"The issue is elevated expectations, that's where the danger comes in," he told Al Jazeera.

"People have been expecting better lives, partly as a result of Rouhani's promises in connection with the nuclear deal.

"It's not a matter of absolute poverty driving people into the streets.

"It's mostly about people thinking that 'We need more than this, we were actually promised more than what's happening, and we don't have the jobs that we were anticipating'."

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News Network
March 6,2020

New York, Mar 6: A 23-year-old Indian with a student visa in the US has pleaded guilty to sexual enticement of a minor girl, prosecutors have said.

Sachin Aji Bhaskar faces a maximum penalty of life in prison.

He pleaded guilty before Senior US District Judge William M Skretny to sexual enticement of a minor.

The charge carries a minimum penalty of 10 years in prison, a maximum penalty of life in prison, a fine of USD 250,000 or both, US Attorney James P Kennedy said.

Prosecutors alleged that Bhaskar communicated by text and email with an 11-year-old girl for the purpose of engaging in sexual activity.

Through those communications, Bhaskar enticed the victim to engage in a sexual activity with him in August, 2018, they said.

The sentencing in the case is scheduled for June 17.

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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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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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