Saudi Arabia hails liberation of Tal Afar from Daesh

Arab News
August 28, 2017

Jeddah/Baghdad, Aug 28: Saudi Arabia on Sunday congratulated the government and the people of Iraq for liberating Tal Afar from Daesh terrorists.

The loss of Tal Afar, in northern Iraq between Mosul and the Syrian border, will deprive Daesh of what was once a significant hub for movement between the Syrian and Iraqi components of the self-styled “caliphate” it declared three years ago.

An official source at the Ministry of Foreign Affairs reaffirmed Saudi Arabia’s support for Iraq “in all its capacities to combat and eradicate terrorism and extremism,” the Saudi Press Agency (SPA) reported.

The Iraqi military earlier said it had “fully liberated” Tal Afar’s town center from Daesh.

Pockets of resistance remain but the announcement brings Iraqi forces a step closer to taking full control of one of the extremists’ last strongholds in Iraq.

The military statement added that troops had captured all of the town’s neighborhoods but were heading to Al-Ayadia district, about 10 km northwest of Tal Afar, to pursue a group of terrorists who fled.

Just a week after authorities announced an offensive to push the terrorists from one of their last major urban strongholds in Iraq, the Joint Operations Command said Iraqi forces held all 29 districts of the city and were pursuing final mopping up operations.

Pro-government fighters could already be seen celebrating, waving Iraqi flags and flashing victory signs as their tanks rolled through the streets.

The offensive comes just weeks after Iraqi forces retook second city Mosul from Daesh, in their biggest victory since the terrorists seized control of large parts of Syria and Iraq in mid-2014.

Much of that territory has since been retaken with support from coalition air strikes, and IS is also facing a major US-backed offensive against its de facto Syrian capital Raqqa.

On Saturday, Iraqi forces took control of the city center and Tal Afar’s Ottoman-era citadel.

Nearby, a huge crater could be seen on Sunday at the base of the city’s main mosque, a testament to the intensity of the air strikes that battered the city.

Surrounding buildings still featured religious slogans written by the jihadists and an IS flag lay upside down on the ground.

Government troops and units of the Hashed Al-Shaabi paramilitary coalition launched the assault after weeks of coalition and Iraqi airstrikes.

Progress in Tal Afar was far more rapid than in Mosul, which fell to Iraqi forces only after a grueling nine-month battle.

Officials have said they hope to announce victory by Eid Al-Adha set to start in Iraq on Sept. 2.

The next target in the area was the town of Al-Ayadieh 15 km north of Tal Afar and strategically located on the road between the city and the Syrian border.

Pro-government forces faced an obstacle course of roads blocked with earth embankments and strategically parked trucks, as well as sniper and mortar fire during the battle for Tal Afar.

Troops also said they discovered a network of underground tunnels used by Daesh to launch attacks behind lines of already conquered territory, or to escape.

Once Tal Afar is retaken, Baghdad is expected to launch a new offensive on Hawija, about 300 km north of the Iraqi capital.

The coalition has announced carrying out strikes near Hawija in recent days, including two that killed Daesh fighters and destroyed a command post.

Daesh is also present in the vast western province of Anbar, where it controls several zones along the border with Syria, including the Al-Qaim area.

Despite its losses in Iraq and Syria, Daesh has continued to claim responsibility for attacks carried out by its members or supporters abroad, including this month’s deadly attacks in Spain and knife attacks in Russia and Brussels.

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Agencies
January 4,2020

Baghdad, Jan 4: At least five people were killed on Saturday by an airstrike on a vehicle convoy of Iraq's Shia Popular Mobilization Forces in northern Baghdad, a source in security forces told Sputnik.

Earlier in the day, the source told Sputnik about a powerful explosion in Baghdad's northern district of Taji.

"A vehicle convoy of the Popular Mobilization Forces has been attacked. According to preliminary data, five people have died. Their names have not been clarified so far," the source said.

On Friday, several senior members of the Popular Mobilization Forces, as well as commander of the elite Quds Force of Iran's Revolutionary Guard Corps Qasem Soleimani, were killed by a US drone attack near the Baghdad International Airport.

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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
May 4,2020

Dubai, May 4: An Indian salesman in the UAE has won a whopping 10 million dirhams at an Abu Dhabi draw, a media report said.

Dileep Kumar Ellikkottil Parameswaran, from Kerala’s Thrissur, works with an auto spare parts company in Ajman and earns 5,000 dirhams (USD 1,361) a month, Gulf News reported on Sunday.

Parameswaran, who won the 10 million dirhams (USD 2.7 million) prize at the Big Ticket draw in Abu Dhabi, will spend a big part of the money to repay a loan of 700,000 dirhams (USD 190,574 ), according to the report.

He said that a good part of the prize money will be spent on the education of his two children.

Parameswaran, who has been a resident of the UAE for 17 years, lives in Ajman along with his family.

Big Ticket is the largest and longest-running monthly raffle draw for cash prizes and dream luxury cars in Abu Dhabi.

A live monthly draw is organized at the Abu Dhabi International Airport on 3rd of each month.

Tickets are sold for 500 dirhams (USD 136).

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