Turkey central bank ready to take ‘all necessary measures’ for stability

Agencies
August 13, 2018

Istanbul, Aug 13: Turkey’s central bank on Monday announced it was ready to take “all necessary measures” to ensure financial stability after the collapse of the lira, promising to provide banks with liquidity.

“The central bank will closely monitor the market depth and price formations, and take all necessary measures to maintain financial stability, if deemed necessary,” the bank said in a statement, vowing to provide “all the liquidity the banks need.”

The statement came after the Turkish lira hit record lows against the dollar amid a widening diplomatic spat with the United States.

The detention of US pastor Andrew Brunson since October 2016 on terrorism charges has sparked the most severe crisis in ties between the two NATO allies in years.

The central bank announced the series of measures on Monday, a day after Erdogan’s son-in-law Berat Albayrak, who is treasury and finance minister, announced an action plan was in the pipeline.

“In the framework of intraday and overnight standing facilities, the Central Bank will provide all the liquidity the banks need,” the bank said.

The bank also revised reserve requirement ratios for banks, in a move also aimed at staving off any liquidity issues.

It said with the latest revision, approximately 10 billion lira, $6 billion, and $3 billion equivalent of gold liquidity will be provided to the financial system.

The nominally independent central bank has defied pressure to hike interest rates which economists said would curb the fall of the lira.

Erdogan on Saturday called interest rates as “tool of exploitation” that makes the poor poorer and the rich richer.

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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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Agencies
July 8,2020

Jeddah, Jul 8: The Organization of Islamic Cooperation (OIC) writes to the members of the United Nations Security Council (UNSC), urging the body to come in the way of a plan announced by Israel for annexation of significant portions of the occupied West Bank.

The letter was addressed by the 57-member organization’s Secretary-General Yousef al-Othaimeen to the UNSC’s members as well as the members of the Middle East Quartet — the European Union, Russia, United Nations, and United States— the Arabic-language Rai al-Youm news website reported on Tuesday.

The letter urged the Council to adopt “the necessary measures” that would prevent the annexation and compel Israel to stop all its illegal activities.

The OIC also urged the UNSC to hold an emergency meeting to “salvage the [remaining] opportunities for peace, and revive attempts at reinstatement of the political process under international supervision.” Such meeting, it added, had to enable realization of “the two-state solution, and [creation of] a Palestinian state with East Jerusalem [al-Quds] as its capital.”

Israel’s Prime Minister Benjamin Netanyahu announced the plan to annex 30 percent of the occupied Palestinian territory — namely the areas upon which the regime has built its illegal settlements as well as the Jordan Valley — after US President Donald Trump backed the annexation in January.

Trump pledged the support while unveiling details of his Middle East scheme called the “deal of the century.”

The highly controversial scheme allegedly seeks to resolve the Palestinian-Israeli conflict, but is heavily tilted in favor of the occupying regime. As well as backing the annexation, the scheme re-endorses Washington’s incendiary recognition in late 2017 of al-Quds as “Israel’s capital,” although Palestinians want the occupied holy city’s eastern part to serve as the capital of their future state.

Palestinians have roundly rejected either the American design or the Israeli plan that is rooted in it.

Tel Aviv had previously announced July 1 as the date it sought to start implementing the annexation plan. It, however, is yet to get it off the ground amid far-and-wide international condemnation and speculation that the plan was announced in the first place to deflect attention from a massive corruption scandal involving Netanyahu.

Countries warn Israel of consequences to bilateral ties

Also on Tuesday, Egypt, France, Germany, and Jordan warned Israel against going ahead with the plan, saying that doing so could have consequences for their bilateral relations with the Tel Aviv regime.

In a statement distributed by the German Foreign Ministry, the countries said their foreign ministers had discussed how to restart talks between Israel and the Palestinian Authority.

Most other European countries have likewise communicated their objection to the plan.

“We concur that any annexation of Palestinian territories occupied in 1967 would be a violation of international law and imperil the foundations of the peace process,” the European and Middle Eastern foreign ministers said, referring to the year, when Israel occupied the West Bank.

“We would not recognize any changes to the 1967 borders that are not agreed by both parties in the conflict,” they added. “It could also have consequences for the relationship with Israel.”

Israel had no immediate response. In a separate statement, however, Netanyahu’s office communicated Tel Aviv’s intransigence on the matter.

The statement said the Israeli premier had told his British counterpart Boris Johnson on Monday that he was committed to Trump’s “realistic” plan.

“Israel is prepared to conduct negotiations on the basis of President Trump’s peace plan, which is both creative and realistic, and will not return to the failed formulas of the past,” the statement alleged.

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News Network
May 5,2020

Dubai, May 5: Saudi Arabian prosecutors have ordered the arrest of a Saudi citizen for insulting an Asian expatriate and abusing him for not embracing Islam.

A video went viral online showing the expat, apparently with little knowledge of the Arabic language, being insulated by an Arabic-speaking man who does not appear in the clip, for having not embraced Islam and for not fasting.

A monitoring centre affiliated with the public prosecution examined the video the content of which “shows the citizen’s use of abusive words against the Asian resident on the pretext of inviting him to Islam,” the prosecution source said.

“The public prosecution closely follows up whatever infringes rights of citizens and residents including harm to their dignity and legal rights regardless of pretexts of such infringement,” the source added.

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