More than 70 killed in Cairo attack: Muslim Brotherhood

July 27, 2013

Cairo_attackCairo, Jul 27: At least 70 people died on Saturday after security forces attacked supporters of deposed President Mohamed Morsi in Cairo, Muslim Brotherhood spokesman Gehad El-Haddad said, adding the toll could be much higher.

Al Jazeera's Egypt television station reported 120 had died and some 4,500 had been injured in the early morning violence on the fringes of a round-the-clock vigil being staged by backers of Morsi near a Cairo mosque.

Brotherhood spokesman Gehad El-Haddad said the shooting started shortly before pre-dawn morning prayers on the fringes of a round-the-clock vigil being staged by backers of Morsi, who was ousted by the army more than three weeks ago.

"They are not shooting to wound, they are shooting to kill," Haddad said. "The bullet wounds are in the head and chest."

A reporter at the scene saw 20 bodies under white sheets laid out on the blood-splattered floor of a field hospital set up at the Brotherhood sit-in at Rabaa al-Adawiya, a mosque in northeast Cairo.

Other bodies had been taken to different hospitals and as many as 1,000 people had been injured, Haddad said.

Supporters and opponents of Morsi staged mass rival rallies across the country on Friday, bringing hundreds of thousands into the streets and laying bare deep divisions within the Arab world's most populous country.

Well over 200 people have died in violence since the overthrow of Morsi, including at least nine on Friday, most of them Brotherhood supporters.

Army chief General Abdel Fattah al-Sisi, who played a central role in the overthrow of Morsi following huge demonstrations against his year-long rule, called for Egyptians to rally on Friday to give him a mandate to tackle "violence and terrorism".

Hundreds of thousands heeded his call, but Muslim Brotherhood supporters also staged mass, counter-rallies, demanding the reinstatement of Morsi, who was placed under investigation on Friday for a raft of crimes, including murder.

"Live rounds"

Haddad said police started firing repeated rounds of teargas sometime after 3:00am (0100 GMT) at protesters who had spilled out of the main area of the Rabaa sit-in and were on a main thoroughfare close to 6th October Bridge.

"Through the smog of the gas, the bullets started flying," he said. In addition to "special police forces in black uniforms" firing live rounds, he said that snipers shot from the roofs of a university, buildings in the area, and a bridge.

State news agency MENA quoted an unnamed security source as saying that only teargas was used to disperse protesters. He said no firearms were used.

Haddad said the pro-Morsi supporters had used rocks to try to defend themselves. On the podium outside the Rabaa mosque, a speaker urged people to retreat from the gunfire, but "men stayed to defend themselves because women and children are inside the sit-in", he said.

It was the second time this month there had been a mass killing near Rabaa. On July 8, 53 people died when armed men shot into a crowd after morning prayers close to a Republican Guard compound in the area.

"This is much more brutal because the Republican Guard looked like a tactical military operation. This one looks like a much more brutal aggression," Haddad said.

Egypt's army-installed interior minister, Mohamed Ibrahim, said on Friday that the month-old Cairo vigils by Morsi supporters would be "brought to an end, soon and in a legal manner", state-run al Ahram news website reported.

Sisi's rising star

There is deepening alarm in the West over the army's move against Morsi. The country of 84 million people forms a bridge between the Middle East and North Africa and receives $1.5 billion a year in mainly military aid from Washington.

Fireworks lit up the night sky over Cairo's central Tahrir Square into the early hours of Saturday, where army supporters rallied clutching posters of Sisi in full ceremonial uniform.

In a sign of the general's rising star, many of the posters depicted him alongside Gamal Abdel Nasser and Anwar Sadat, former military officers who went on to become presidents.

The investigation into Morsi centres on accusations that he conspired with the Palestinian Islamist group Hamas to escape from jail during the 2011 uprising against veteran autocrat Hosni Mubarak, killing some prisoners and officers, kidnapping soldiers and torching buildings.

Morsi has said local people helped him escape during the upheavals. Hamas challenged investigators to find "one piece of evidence" that it had meddled in Egyptian affairs.

The Brotherhood has rejected the allegations as "fantasy".

The army has appointed an interim government tasked with preparing for parliamentary elections in about six months followed by a new presidential vote. The Brotherhood says it will not join the process.

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News Network
January 10,2020

Dubai, Jan 10: Iran denied on Thursday that a Ukrainian airliner that crashed near Tehran had been hit by a missile, Iranian government spokesman Ali Rabiei said in a statement, according to state TV.

"All these reports are a psychological warfare against Iran. All those countries whose citizens were aboard the plane can send representatives and we urge Boeing to send its representative to join the process of investigating the black box".

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News Network
March 11,2020

Mar 11: Energy giant Saudi Aramco on Wednesday said it plans to raise its crude production capacity by one million barrels per day to 13 million bpd as a price war with Russia intensifies.

"Saudi Aramco announces that it received a directive from the ministry of energy to increase its maximum sustainable capacity from 12 million bpd to 13 million bpd," the company said in a statement to the Saudi Stock Exchange.

The decision comes a day after the world's top exporter, Saudi Arabia, decided to hike production by at least 2.5 million bpd to a record 12.3 million from April.

The Saudi moves come after the collapse of an oil production reduction agreement between OPEC and non-OPEC producers, including Russia.

The deal proposed by Saudi Arabia called for additional output cuts of 1.5 million bpd to cope with the severe economic impact of the coronavirus which has sharply reduced world demand for crude.

Boosting production capacity normally takes a long time and requires billions of dollars of investment.

Several years ago, the kingdom had shelved plans to boost its crude production capacity beyond 12 million bpd after demand for OPEC oil declined in the face of stiff competition from North American shale oil and other sources.

Russia on Tuesday said it was open to renewing cooperation with the OPEC cartel even as its kingpin Saudi Arabia escalated a price war with Moscow by announcing it would flood markets with new supplies.

The oil price war broke out after OPEC and a group of non-member countries dominated by Russia -- the world's second largest producer -- on Friday failed to agree on production cuts.

Saudi Arabia responded by announcing unilateral price cuts. This prompted the oil price to plummet and fuelled huge falls on stock markets around the world on Monday.

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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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