Israel’s Ramadan blitz in Gaza kills more than 20 Palestinians, including Hamas commander

Agencies
May 6, 2019

Gaza/Jerusalem, May 6:  Israel pounded Gaza with airstrikes and shelling Sunday killing at least 20 Palestinians, including two pregnant women and two babies, in the bloodiest fighting since a 2014 war.

Among those killed was Hamas commander Hamed Ahmed Al-Khodary, whose car was blasted in an airstrike, the first such targeted killing in five years. The Israeli military said Al-Khodary, a money changer, was responsible for transferring funds from Iran to armed factions in Gaza.

Two members of the Palestinian militant group Islamic Jihad, Mohammed abu Armanah, 30, and Mahmoud abu Armanah, 27, were likewise killed in an airstrike in central Gaza.Israel said its tanks and planes hit about 260 targets in Gaza.

Israel said its strikes were in response to more than 450 rocket and mortar attacks by Hamas and Islamic Jihad since Saturday, with Israeli air defenses intercepting more than 150.

At least four Israelis were killed in the rocket and mortar barrage. In the first Israeli civilian fatality since the 2014 war, a 58-year-old man died when a rocket hit a house in Ashkelon. Two other men were killed, one in Ashkelon and the other in the border settlement of Yad Mordechai,

With Palestinian militants threatening to send rockets deeper into Israel and Israeli reinforcements massing near the Gaza frontier, the fighting showed no signs of slowing down.

Prime Minister Benjamin Netanyahu spent most of the day huddled with his Security Cabinet. Late Sunday, the Cabinet instructed the army to “continue its attacks and to stand by” for further orders. Netanyahu also ordered “tanks, artillery and infantry forces” to reinforce troops already deployed near Gaza.

Israel and Hamas, a militant group that seeks Israel’s destruction, are bitter enemies that have fought three wars since Hamas violently seized control of Gaza in 2007. They have fought numerous smaller battles, most recently two rounds in March.

While lulls in fighting used to last for months or even years, these flare-ups have grown increasingly frequent as a desperate Hamas, weakened by a crippling Egyptian-Israeli blockade imposed 12 years ago, seeks to put pressure on Israel to ease the closure.

The blockade has ravaged Gaza's economy, and a year of Hamas-led protests along the Israeli frontier has yielded no tangible benefits. In March, Hamas faced several days of street protests over the dire conditions.

With little to lose, Hamas appears to be trying to step up pressure on Netanyahu at a time when the Israeli leader is vulnerable on several fronts.

Fresh off an election victory, Netanyahu is now engaged in negotiations with his hard-line political partners on forming a governing coalition. If fighting drags on, the normally cautious Netanyahu could be weakened in his negotiations as his partners push for a tougher response.

Later this week, Israel marks Memorial Day, one of the most solemn days of the year, and its festive Independence Day. Next week, Israel is to host the Eurovision song contest. Prolonged fighting could overshadow these important occasions and deter foreign tourists.

The arrival of the Muslim holy month of Ramadan, which begins Monday, does not seem to be deterring Hamas.

But the group is also taking a big risk if it pushes too hard. During the 50-day war in 2014, Israel killed over 2,200 Palestinians, over half of them civilians, according to UN tallies, and caused widespread damage to homes and infrastructure. While Hamas is eager to burnish its credentials as a resistance group, the Gazan public has little stomach for another devastating war.

In Washington, US Secretary of State Mike Pompeo said Israelis have "every right to defend themselves." He expressed hope that the recent cease-fire could be restored.

The UN Middle East envoy, Nickolay Mladenov, called for a halt in rocket fire and “a return to the understandings of the past few months before it is too late.”

EU foreign policy chief Federica Mogherini also called for a halt to “indiscriminate rocket attacks” from Gaza and expressed support for Egyptian and UN mediation efforts.

Previous rounds of fighting have all ended in informal Egyptian-mediated truces in which Israel pledged to ease the blockade while militants promised to halt rocket fire. Following a familiar pattern, the current round began with sporadic rocket fire amid Palestinian accusations that Israel was not keeping its promises to loosen the blockade.

On Friday, two Israeli soldiers were wounded by snipers from Islamic Jihad, a smaller Iranian-backed militant group that often cooperates with Hamas but sometimes acts independently. Israel responded by killing two Palestinian militants, leading to intense rocket barrages and retaliatory Israeli airstrikes beginning Saturday.

Islamic Jihad threatened to strike deeper into Israel, saying it "is ready to engage in an open confrontation and can open a broader front to defend our land and people.”

By Sunday, the Israeli military said militants had fired over 600 rockets, with the vast majority falling in open areas or intercepted by the Iron Dome rocket-defense system. But more than 30 rockets managed to strike urban areas, the army said.

Palestinian medical officials reported 20 dead, including at least eight militants hit in targeted airstrikes. At least four civilians, including two pregnant women and two babies, were also among the dead.

Late Saturday, the Palestinians said a 37-year-old pregnant woman and her 14-month-old niece were killed in an Israeli airstrike. The army denied involvement, saying they were killed by an errant Palestinian rocket. There was no way to reconcile the claims.

Late Sunday, an Israeli airstrike hit an apartment building in northern Gaza, killing a couple in their early 30s and their 4-month-old daughter.

The Israeli deaths were the first rocket-related fatalities since the 2014 war, when 73 people, including six civilians, were killed on the Israeli side.

The Israeli military said it struck 250 targets in Gaza, including weapons storage, attack tunnels and rocket launching and production facilities. It also deployed tanks and infantry forces to the Gaza frontier, and put another brigade on standby.

“We have been given orders to prepare for a number of days of fighting under current conditions,” said Lt. Col. Jonathan Conricus, a military spokesman.

Sirens wailed along Israel's border region throughout the day warning of incoming attacks. School was canceled and roads were closed. In Gaza, large explosions thundered across the blockaded enclave during the night as plumes of smoke rose into the air.

Hamas seized control of Gaza from the forces of internationally recognized Palestinian President Mahmoud Abbas. Despite his fierce rivalry with Hamas, Abbas appealed to the international community “to stop the Israeli aggression against our people.”

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Gulf News
April 12,2020

Dubai, Apr 12: Saudi Arabia reported 429 new cases of coronavirus, bringing the total number of infections in the country to 4462, the Ministry of Health announced on Sunday.

The ministry also confirmed 7 deaths bringing the total number of deaths in the kingdom to 59.

According to the ministry of health the number of recoveries are 41 cases, making total of recoveries 761.

Ministry also said that 40,000 have been quarantined since the beginning of the epidemic, and only 7,000 remain in quarantine, including those who recently returned from abroad.

Extension of curfew

Early on Sunday, King Salman approved the extension of curfew until further notice due to current rates of coronavirus spread, the official news agency SPA announced.

Earlier last week, Saudi Arabia imposed a 24-hour curfew and lockdown on the cities of Riyadh, Tabuk, Dammam, Dhahran and Hofuf and throughout the governorates of Jeddah, Taif, Qatif and Khobar.

Authorities had already sealed off the holy cities of Makkah and Medina along with Riyadh and Jeddah, barring people from entering and exiting as well as prohibiting movement between all provinces.

Total lockdown on Medina neighbourhoods

The Ministry of Interior also announced a total lockdown on five neighbourhoods in Medina on thursday until further notice. The neighborhoods include Al Sherbat; Bani Dhafar; Qurban, Al Jumuah; and parts of Al Iskan district and Bani Khudrah. No one is allowed to enter or exit these areas.

An official source from the ministry highlighted that the Ministry of Labor and Social Development will provide residents of these neighbourhoods with food baskets and will follow up on their needs while the ministry of health will provide them with necessary medications.

Saudi Arabia, which has reported the highest number of infections in the Gulf, is making every possible effort to limit the spread of the disease at home.

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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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Agencies
June 9,2020

Dubai, Jun 9: Dubai's Emirates airline has begun laying off employees to reduce cost and save cash as the carrier looks to rightsize its workforce.

"We at Emirates have been doing everything possible to retain the talented people that make up our workforce for as long as we can. However, given the significant impact that the pandemic has had on our business, we simply cannot sustain excess resources and have to rightsize our workforce in line with our reduced operations. After reviewing all scenarios and options, we deeply regret that we have to let some of our people go," the spokesperson said in the statement.

Citing sources, Reuters and Bloomberg earlier reported that a majority of those being made redundant are cabin crew workers as well as a minority of its engineers and pilots, including those flew the Airbus A380.

"This was a very difficult decision and not one that we took lightly. The company is doing everything possible to protect the workforce wherever we can. Where we are forced to take tough decisions we will treat people with fairness and respect. We will work with impacted employees to provide them with all possible support," said the statement.

The spokesperson, however, didn't disclose how many employees are being made redundant in this latest round of rightsizing the workforce.

Emirates on Sunday confirmed that it extended the period of reduced pay for its staff for another three months till September. It had previously reduced basic wages by 25 to 50 per cent for three months from April, with junior employees exempted.

The airline had employed around 60,000 people at the end of its 2019-20 financial year.

Saj Ahmad, chief analyst at StrategicAero Research, said the announced job cuts at Emirates will likely not be the last given the unprecedented damage that Covid-19 has had not just on air travel, but on the entire aviation industry as a whole.

"Emirates' massive international network means that job reductions were always a last resort option as the company staves off cash burn and expenses at a time when revenues are dried up. While Emirates SkyCargo is enjoying a resurgence in activities, the reality is that this income will never offset the lost money from passenger operations," he added.

"Whilst some salary reduction schemes have prevented bigger job cuts for now, the absence of a cure or medicinal suppressant of Covid-19 means that air travel is unlikely to even reach pre-9/11 levels within 3-5 years, let alone pre-Covid-19 levels in that same time period. For that reason, Emirates' reduction in headcount is necessary to stay competitive, agile and be ready for when air travel can resume with a degree of normalcy that we have been accustomed to for decades," said Ahmad.

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