Saudi envoy returns to Doha as rift ends

November 18, 2014

Saudi envoyRiyadh, Nov 18: Three leading GCC countries — Saudi Arabia, UAE and Bahrain — have resolved their eight-month-old dispute with another GCC member Qatar on Sunday and decided to send back their ambassadors to Doha.

The move initiated by Custodian of the Two Holy Mosques King Abdullah has been widely welcomed by foreign diplomats, journalists and scholars in the Kingdom.

The annual GCC summit would now take place on Dec. 9 and 10 in Doha, the GCC said in a statement. The Gulf leaders stated this would see a new phase of relations, which would provide stability as the region faces several economic and political challenges ahead.

“We ask God to protect the GCC states from harm and danger, and to sustain its security, stability and prosperity moving forward,” the statement said. The GCC leaders also urged all members to redouble their efforts to protect the Gulf’s people.

The emergency GCC summit in Riyadh was attended by leaders from Saudi Arabia, UAE, Qatar, Kuwait and Bahrain in addition to Deputy Crown Prince Muqrin and GCC Secretary-General Abdullatif Al-Zayani. The king had chaired the proceedings.

Qatari Emir Sheikh Tamim bin Hamad Al-Thani commended King Abdullah for playing a vital role to end the dispute. He called the king on telephone on Monday and discussed major regional and international developments.

Foreign Ministry spokesman Ambassador Osama Nugali said Saudi Ambassador to Qatar Abdullah Al-Aifan has already arrived in Doha to resume duty.

“It’s a positive development that would further strengthen the GCC countries,” South African Ambassador Mohammad Sadiq Jaafar told Arab News. He said the move was welcome because it showed the commitment of the GCC countries to bolster their unity.

Bangladesh Ambassador Mohamed Shahidul Islam described it as a significant development. “The decision will enhance the understanding among the member countries and have a positive impact on global developments.”

Musaed Al-Zayani, a senior Saudi journalist based in Dubai, said it was good news for GCC citizens and others interested in regional and global development.

“The GCC plays a dominant role in social, economic and political development in the region and globally,” he said.

Sri Lankan Ambassador Mohamed Hussein Mohammed said it was an encouraging sign to see the GCC return to its previous strength. “Such united efforts of the GCC countries will ensure peace and security in the region, which will contribute to global peace and prosperity.”

“This is a welcome development because the GCC countries belong to one family. Whatever differences they have must be solved within the family,” said Mohsin Shaikh Al-Hassan, a Saudi author, Islamic scholar and television host.

“It’s good news. There will be more business in the region with the differences patched up. The reconciliation was expected since the concerned countries are bound by one faith which propagates unity and peace,” said Khaldoon Said, a public relations specialist.

Seyed Hamid Mowlana, a prominent expatriate writer in the Kingdom, said: “The expat community welcomes the successful talks to end the Qatar-GCC row. If we remember right this is the first ever difference of opinion to be experienced by the GCC, which has been mended in a friendly and brotherly manner.”

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Agencies
July 28,2020

Dubai, Jul 28: Abu Dhabi Commercial Bank (ADCB) (ADCB.AD) is letting go hundreds of employees, sources said, the latest in a round of lay-offs by regional banks as pressure mounts to cut costs amid lower oil prices and the coronavirus crisis.

The UAE’s third-biggest lender is laying off 400 employees, two sources familiar with the matter said, after it had committed to not cutting staff because of the crisis.

In a statement, a spokesman said ADCB had pursued efficiency over the last decade by managing out its lowest underachievers after regular reviews, while ensuring talent was deployed in high-growth areas, such as digital banking.

“A certain number of redundancies are therefore expected every year in the normal course of business,” the bank spokesman added.

The sources said the cuts would involve ADCB’s consumer business and several in top management were among those being let go. One source said the bank was looking to close 20 branches.

In March, ADCB had declared, “No employee will be made redundant during 2020 as a result of the COVID-19 pandemic.”

UAE banks have been hit by government measures to rein in the spread of the virus, forcing many businesses to shut temporarily.

Last week, Dubai’s largest bank, Emirates NBD, reported a slump of 58% in profits. In June, sources told Reuters the bank started a new round of hundreds of lay-offs.

In May, ADCB reported a fall of 84% in first-quarter net profit as it took impairments of $292 million on debt exposure to troubled hospital operator NMC Health and payments group Finablr.

It was a major lender, with an exposure of about $981 million, to NMC Health, which went into administration this year after months of turmoil following questions over financial reporting.

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News Network
April 26,2020

Dubai, Apr 26: The Central Bank of the UAE (CBUAE) has instructed financial institutions in the country to search and freeze all bank accounts of Indian billionaire BR Shetty and his family along with those of companies where he has a stake.

The apex bank has also blacklisted several firms associated with Shetty along with their entire senior management.

In an advisory issued last week, CBUAE cited decisions of the Federal Attorney General and asked financial institutions to search and freeze any bank accounts, deposits or investments in the name of Shetty or his family members.

Financial institutions have been directed to stop transfers from these accounts and deny access to deposit boxes.

Currently in India and facing a string of charges, Shetty is the founder of NMC Health.

The heathcare provider was placed into administration by a UK court recently following an application by the Abu Dhabi Commercial Bank (ADCB) which alone has an exposure of $981 million (Dh3.6 billion).

Overall, UAE banks have a combined exposure of more than Dh8bn to NMC which owes money to Oman-based banks and financial institutions as well.

Probing credit facilities
The Central Bank has sought information about credit facilites extended to the Shettys along with details of their safe deposit boxes and the financial transfers they have made till date.

A similar advisory has been issued for NMC Healthcare and NMC Holding, based on the decision of the Head of Plenary Fund Prosecution.

The Central Bank has also blacklisted several companies associated with Shetty. Key staff members of these firms have been similarly blacklisted.

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Angry Indian
 - 
Monday, 27 Apr 2020

when you make money with good country you should not make doka to that country, first of all we indian have bad name in GCC now this will make more dought on indian hindus..

 

after BJP come to power in india,our country is acting like maron, this will only end with final WAR.

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Agencies
July 19,2020

Occupied Jerusalem, Jul 19: Israeli Prime Minister Benjamin Netanyahu’s corruption trial resumed on Sunday.

Netanyahu is charged with fraud, breach of trust and accepting bribes in a series of scandals in which he is alleged to have received lavish gifts from billionaire friends and exchanged regulatory favors with media moguls for more agreeable coverage of himself and his family.

Netanyahu denies wrongdoing, painting the accusations as a media-orchestrated witchhunt pursued by a biased law enforcement system.

The trial opened in May. Just before appearing in front of the judges, Netanyahu took to a podium inside the courthouse and flanked by his party members bashed the country’s legal institutions in an angry tirade.

Netanyahu was not expected to appear at Sunday’s hearing, which is taking place at an occupied Jerusalem court and is mostly a procedural deliberation.

The trial resumes as Netanyahu faces widespread anger over his government’s handling of the coronavirus crisis.

While the country appeared to have tamped down a first wave of infections, what’s emerged as a hasty and erratic reopening sent infections soaring. Yet even amid the rise in new cases Netanyahu and his emergency government — formed with the goal of dealing with the crisis — appeared to neglect the numbers and moved forward with other policy priorities and its reopening plans.

It has since paused them and even re-impose restrictions, including a weekend only lockdown set to begin later this week.

Netanyahu’s government has been criticized for a baffling, halting response to the new wave, which has seen daily cases rise to nearly 2,000. It has been slammed for its handling of the economic fallout of the crisis.

His trial thus comes at inopportune timing. Netanyahu had hoped to ride on the goodwill he gained from overcoming the first wave of infections going into his corruption trial, but the increasingly souring mood has affected his approval rating and may deny him the public backing he had hoped for. The anger has sparked protests over the past few weeks that have culminated in violent clashes with police.

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