Iranian expansion is considered a threat by both Turkey and Saudi Arabia, says expert

September 29, 2016

Jeddah, Sep 29: A leading Turkish political analyst has described Crown Prince Mohammed bin Naif’s visit to Ankara as “highly significant and extremely timely.”

sinem cengizSpeaking to Arab News from the Turkish capital, Sinem Cengiz, a Kuwaiti-born Turkish national specializing in Turkey’s relations with the Middle East and is currently press adviser at a diplomatic mission in Ankara, said the significance of the visit can be gauged from the fact that it is coming against the backdrop of a failed coup attempt by a small junta embedded in the Turkish Armed Forces against the Turkish government.

“This visit is being seen in Turkey by the government and the Turkish people as Saudi Arabia’s big endorsement of Ankara at a critical time,” she said.

“There is no doubt of the significance of the Saudi delegation’s visit to Turkey under Crown Prince Mohammed bin Naif,” she said. “The visit sends multiple messages. When Turkey experienced a bloody coup attempt on July 15, Saudi Arabia stood by the government and the people of Turkey. This was widely praised,” she said.

According to Cengiz, Saudi-Turkish strategic cooperation in all fields is very crucial to both sides. “Saudi Arabia and Turkey are two important countries in the Middle East. They are two crucial heavyweights. The cooperation between them is not limited to bilateral or economic ties, but includes cooperation in the fight against terrorism, especially in the Syrian context. This has been the case for the last five years.”

She said both countries were acutely aware that Turkey needed Saudi Arabia and that Saudi Arabia needed Turkey “to promote regional stability which is very important to both sides.”

She said the timing of the crown prince’s visit was very important. She pointed out that Moody’s, the credit ratings agency, had downgraded Turkey’s sovereign credit rating, but Gulf businesses had nonetheless continued to invest in Turkey.

“The message that Saudi Arabia is sending with this visit is that it has full faith in the Turkish economy regardless of the negative ratings. I am sure more investment opportunities will be discussed during the visit which could take Saudi-Turkish business ties to a new level,” she said.

Cengiz said there had been reports in the Turkish media about the signing of a Free Trade Agreement between Turkey and the Gulf Cooperation Council (GCC) countries.

“This will also be discussed during the meeting,” she said. “And taking into consideration, the advancing economic ties, I think the signing of such an agreement will be a milestone in the two countries’ relations.”

According to her, Saudi Arabia and Turkey are on the same page on Syria. “There may be some small points of divergence here and there on some aspects of how to deal with Syria without Assad, but both countries have similar views on Syria,” she said. “They have been cooperating on Syria because that is in the interest of both sides. A stable Syria is very important for both countries.”

Also, Cengiz said, Iran’s influence on Syria was a concern for both countries. “Iranian expansion is considered a threat by both sides,” she said. “Therefore, this is another key issue for the two countries to cooperate on.”

She said Turkey still believed that Assad should not play a part in Syria’s future. “So there is no change in Turkish foreign policy,” she said. “But, of course, after the failed coup attempt, Turkey is going through an important transition in many areas, particularly its foreign policy.”

The Turkish operation against terrorists inside Syria that took place a month ago, she said, should be looked at in the context of Turkey’s current rapprochement with Russia.

“The recent military operations in Syria after the rapprochement are a very important step,” she said.

Cengiz said there was little interest in Turkey about the Middle East and Gulf states before Erdogan’s AK Party came to power. “We only started hearing and talking about Saudi Arabia and the Gulf states in the last decade. This has been reflected in our media as well,” she said.

She said there was great attention in the Turkish media to the crown prince’s visit. “In general, Turkish media is keenly following the visit,” she said.

According to her, the recent visit of Foreign Minister Adel Al-Jubeir created a very favorable environment. “He delivered a keynote address at a very important think-tank (SETA) on Sept. 9 on Saudi-Turkish relations. He explained in detail the need for a cooperative approach in a region that is increasingly being transformed.”

She said the Saudi minister delivered a “wonderful speech and took questions from the media. He was very articulate; I attended it and saw huge interest by the media in his speech and in his visit. All that was very positive for the relationship,” she said.

“We don’t see negative news about Saudi Arabia in the Turkish media, precisely because of the excellent relations that exist between the two countries.”

Cengiz said there were reports about a Turkish delegation visiting the Kingdom in October. “These high-level visits are significant; their timings are significant,” she said. “These are indications of the further strengthening of ties between the two countries.”

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News Network
April 23,2020

Dubai, Apr 23: UAE announced on Thursday 4 deaths, 518 new coronavirus cases and 91 recoveries.

According to the Ministry of Health and Prevention, an additional 29,000 COVID-19 tests were performed, which revealed 518 new positive cases, bringing the total number of cases to 8,756. The new patients identified are in a stable condition and undergoing treatment, according to the ministry.

UAEGov

@uaegov
 · 4h
An additional 29,000 Covid-19 tests were performed, which revealed 518 new cases bringing the total number of cases to 8756. The new cases identified are in a stable condition and undergoing treatment, @mohapuae announced today. #UAEGov

UAEGov

@uaegov
Also, @mohapuae announced that four Asian expats who tested positive for COVID-19 died due to complications. This brings the total death toll to 56. The Ministry of Health and Prevention expressed sincere condolences to the families of the deceased.

The ministry announced that four Asian expats who tested positive for COVID-19 died due to complications. This brings the total deaths to 56. The ministry expressed sincere condolences to the families of the deceased.

The total number of recovered cases has reached 1,637 with 91 patients fully recovered on Thursday, after receiving treatment.

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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
April 23,2020

Riyadh, Apr 22: In an extraordinary initiative, the government of the Kingdom of Saudi Arabia has decided to facilitate the travel of expatriates who have an exit and reentry visa or final exit visa to return to their countries.

This is in line with the order of Custodian of the Two Holy Mosques King Salman, according to the Saudi Press Agency.

According to the initiative, called “Auda” (return), expatriates can apply seeking permission for travel to their countries through the Absher portal of the ministry.

Announcing this, Saudi's Ministry of Interior said that the initiative will be implemented in cooperation with a number of relevant government agencies.

Requests for travel from expatriates will be received and approved in coordination with the relevant authorities to complete their travel procedures on board international flights.

As per the initiative, a text message will be sent to the beneficiary stating the travel date, ticket number and reservation details, and by which the beneficiary can obtain his travel ticket and complete the travel procedures.

Clarifying the procedures for the travel, the ministry said that the applicant shall select the icon (Auda) after visiting the Absher portal and fill the following fields: iqama (residency permit) number, date of birth, mobile number, departure city and airport of arrival.

It is not mandatory for the expatriate to have his own Absher account for availing of the service, the ministry said, adding that this facility is to enable expatriates to benefit from this initiative.

The departure will be through the following airports: King Khalid International Airport in Riyadh, King Abdulaziz International Airport in Jeddah, Prince Muhammad International Airport in Madinah, and King Fahd International Airport in Dammam.

Those expatriates who are outside these cities can benefit from the service through entering airport of departure after completion of their travel procedures in sufficient period of time.

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