Pompeo briefs Israel, Saudi on Trump plans for Iran deal

Agencies
April 29, 2018

Riyadh, Apr 29: Washington's new chief diplomat was to meet Saudi and Israeli leaders on Sunday to rally coordinated opposition to Tehran and brief them on President Donald Trump's threat to end the Iran nuclear deal.

Secretary of State Mike Pompeo touched down in Riyadh on Saturday shortly after Tehran-backed Houthi rebels in Yemen fired missiles across the Kingdom's border.

US officials travelling with Pompeo told reporters the Houthi missiles had been supplied by Iran, and cited the attacks as evidence that regional powers should work together.

Pompeo had dinner with Saudi Arabia's Crown Prince Mohammed Bin Salman, and on Sunday he was due to meet the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz of Saudi Arabia.

Trump is due to decide on May 12 whether to reimpose nuclear-related sanctions on Tehran, putting in peril the landmark 2015 nuclear accord, which most world powers see as key to preventing Tehran from getting the bomb.

But Trump and America's Middle East allies argue the deal, approved by Trump's predecessor Barack Obama, was too weak and needs to be replaced with a more permanent arrangement and supplemented by controls on Iran's missile program.

Pompeo set off on his first diplomatic trip within two hours of being sworn in on Thursday and on Friday - after talks with the NATO allies in Brussels - he appeared to suggest that Trump plans to nix the deal.

"Absent a substantial fix, absent overcoming the shortcomings, the flaws of the deal, he is unlikely to stay in that deal past this May," Pompeo told reporters in at NATO headquarters.

Perhaps the last chance to fix these supposed shortcomings came from talks between Washington and its European allies Britain, France and Germany on a supplemental agreement to sanction Iran's missile program.

But both President Emmanuel Macron of France and Germany's Chancellor Angela Merkel left Washington this week after talks with Trump having failed to secure any promise that he might keep the core deal alive.

That may be music to the ears of the Saudi and Israeli leaders, who both support a tougher line on Iran.

"This administration has made it a priority to address Iran's missile programs," a senior US official told reporters in Riyadh, condemning the latest Houthi volley of missiles, themselves in part a response to Saudi air strikes.

"Iran supplies the missiles that the Houthis fire into Saudi Arabia, threatening civilians," he said. "Today alone the Saudis shot down four Houthi missiles, the latest in a string of such attacks."

Prince Salman and King Salman will welcome US solidarity against Iran - just as Israel will want to see greater US support for its efforts against Iranian influence in Syria and Lebanon - but Pompeo has come with requests too.

According to US officials, while Riyadh has a right to self-defence, it must come to see that the solution to Yemen's civil war will be a political one and its forces must not exacerbate the massive humanitarian crisis there.

Washington also wants to see an end to the Gulf crisis that has seen Saudi Arabia and the United Arab Emirates impose a diplomatic and trade embargo on fellow US regional ally Qatar.

And, perhaps most importantly for Trump, Pompeo will urge Saudi Arabia to provide personnel and funding to help US efforts to stabilise northeastern Syria in the wake of the expected defeat of the Daesh group.

"The president has made clear that he wants to see meaningful participation from states in the region," another senior US official travelling with Pompeo's party said.

"We want to see the kind of participation, for financial efforts, not just kinetic efforts that would match, parallel, would assist, the US role," he said. The United States has more than 2,000 troops in Syria.

Pompeo will conclude his first diplomatic trip on Monday after talks with senior Jordanian officials and then fly back to Washington to move in to his office in the State Department.

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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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Khaleej Times
May 27,2020

Dubai, May 27: As the authorities have taken steps to ease the Covid-19 restrictions to allow the people of Dubai to resume sporting activities from Wednesday, May 27, the Dubai Sports Council has answered your key questions.

Q&A

What are the age groups allowed to practice sports during this period?

From 12 years old to 60 years old.

Is it required to do the Coronavirus (Covid 19) medical test certificate before resuming physical activity?

Returning to the activity does not require a Coronavirus (Covid 19) test certificate.

Is it allowed for the elderly with chronic diseases to return to sports activities in fitness and yoga centers?

No, it is not allowed.

Is it allowed to use the shower cabins and bathrooms in fitness and yoga centers?

Shower cabins, saunas and jacuzzis are not allowed, while bathrooms are allowed, with sterilisation being emphasised after each use.

What sports can resume its activities?

All sports except water sports/swimming and that are practiced indoors and swimming pools.

What is the approved operational percentage within the sports facility?

A maximum 50% capacity

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News Network
May 18,2020

Abu Dhabi, May 18: Bollywood superstar Salman Khan has recorded a special message for Indian expats in the UAE as the country fights the coronavirus pandemic.

Khan - one of the biggest stars of Bollywood for decades - enjoys a large fan following in the Gulf, which is why Abu Dhabi roped in the actor to record a special video message for expats, urging them to cooperate with authorities in the capital and the country as they carry out sanitisation and testing programmes.

In the video, tweeted by the Abu Dhabi Media Office on Sunday night, the superstar appeals to Indians in Abu Dhabi to become heroes by staying home (stepping out for essential work/errands only), following precautionary measures and simply 'do the right thing' by getting tested if they have any Covid-19-related symptoms.

Khan, who has shot his recent super hit films (Race 3) in the capital, assured expats that Abu Dhabi authorities will not leave the community in these challenging times as it is a hospitable city who takes care of all residents.

"Following preventive measures also protects your family from the virus - so do the right thing as heroes do," Khan concludes.

The second phase of Abu Dhabi's sanitisation and testing in labour areas is underway, which started on May 16. Special testing facilities have been set up in the city for this purpose that test thousands of workers everyday.

As of May 17, UAE has confirmed over 23,000 cases along with over 8,000 recoveries and 220 deaths.

The country recently made a breakthrough in treating Covid-19 by using stem cells to help with the recovery.

The UAE leadership has thanked citizens and residents for their cooperation and assured that the country will take care of everyone in the country - with food and medicines being the red line, and that there will be no shortage of either during the crisis. Stimulus packages have been announced to help businesses stay afloat.

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