UK to help reform Saudi economy

April 6, 2017

Riyadh, Apr 6: Britain said Wednesday it would help Saudi Arabia to diversify its oil-dependent economy as British Prime Minister Theresa May visited the Kingdom.

UK

A statement from May’s office said the two discussed several issues including security and strengthening business ties.

An earlier statement from May’s office said she would discuss with the monarch “tax and privatization standards to help Saudi Arabia diversify its economy and become less reliant on oil.”

The prime minister “pointed out that security relationships between the two countries had saved many lives in the UK,” her office said.

Britain will also assist Riyadh in “building a reformed Ministry of Defense” and reviewing defense capabilities, the premier’s office said.

May’s visit came as she seeks to secure investment and trade after Britain officially started a two-year countdown to leave the EU.

May and the chief of the London Stock Exchange (LSE) pitched investments in Britain to the head of Saudi Arabia’s sovereign wealth fund.

May and Xavier Rolet presented Yasir Al-Rumayyan of the Saudi Public Investment Fund (PIF) with a “high-level overview of investment opportunities,” according to a spokesman for the prime minister’s office.

The LSE and other top stock exchanges are trying to win a slice of state oil company Saudi Aramco’s initial public offering, expected to be the world’s biggest.

Saudi Arabia plans to transfer Aramco’s shares into the PIF before listing up to 5 percent of the company, making the fund a key player in talks with the exchanges.

The IPO, expected in 2018, could be worth around $100 billion, Saudi officials have said, and will likely involve multiple exchanges.

The PIF is also expanding its profile with major investments abroad, including a pledge of up to $45 billion for the Vision Fund, a global technology fund it is creating with Japan’s SoftBank.

Saudi officials said last year they expect the PIF to expand from $160 billion to about $2 trillion after the Aramco share transfer, which would make it the world’s largest sovereign fund.

The PIF has not yet made any direct investments in British firms, but SoftBank is weighing plans to place its $8 billion stake in British chip designer ARM into the Vision Fund.

Before leaving for home, May said Britain was a firm supporter of Saudi Arabia’s “Vision 2030” which she described as an ambitious reform plan.

“As a world leader across a range of sectors, the UK is well placed to help Saudi Arabia deliver these vital reforms,” she said, according to a statement from her office.

The statement said that senior Cabinet members including Chancellor Philip Hammond, Secretary of State for International Trade Liam Fox and Foreign Secretary Boris Johnson were expected to visit the Kingdom in coming months.

The Permanent Secretary at the Ministry of Defense, Stephen Lovegrove, will also visit the Kingdom next month for discussions on Saudi defense reform, which Britain has pledged to assist, it said.

May’s office said she and King Salman “discussed working together to address the humanitarian situation in Yemen.”

On Tuesday, May held talks with a string of officials including Saudi Crown Prince Mohammed bin Naif and Deputy Crown Prince Mohammed bin Salman.

May also met with Saudi women leaders before wrapping up her two-day visit.

She met with Princess Reema bint Bandar, vice president for women’s affairs at the General Sports Authority.

They discussed bilateral cooperation to enhance and develop social sports culture and the economic output that could be yielded as a result.

Ahead of the meeting, May said on Monday she would announce that the UK will provide support to Saudi Arabia to increase opportunities for men and women to participate in sport.

She also met with the CEO of the Saudi stock exchange, Sarah Al-Suhaimi, and discussed women’s role in the private sector.

The British Council’s Contemporary Collective program will train young Saudi women in arts management, equipping them with the skills necessary to launch and run largescale cultural projects in the Kingdom.

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News Network
March 6,2020

Riyadh, Mar 6: Saudi Arabia on Thursday emptied Islam's holiest site for sterilisation over fears of the new coronavirus, an unprecedented shutdown state media said will last while the year-round Umrah pilgrimage is suspended.

The kingdom halted the pilgrimage for its own citizens and residents on Wednesday, on top of restrictions announced last week on foreign pilgrims to stop the disease from spreading.

State television relayed images of an empty white-tiled area surrounding the Kaaba -- a large black cube structure inside Mecca's Grand Mosque -- which is usually packed with tens of thousands of pilgrims.

As a "precautionary measure", the area will remain closed as long as the umrah suspension lasts but prayers will be allowed inside the mosque, state-run Saudi Press Agency cited a mosque official as saying.

Additionally, the Grand Mosque and the Prophet's Mosque in the city of Medina will be closed an hour after the evening "Isha" prayer and will reopen an hour before the dawn "Fajr" prayer to allow cleaning and sterilisation, the official added.

A group of cleaners was seen scrubbing and mopping the tiles around the Kaaba, a structure draped in gold-embroidered gold cloth towards which Muslims around the world pray.

A Saudi official told news agency the decision to close the area was "unprecedented".

On Wednesday, Saudi Arabia suspended the umrah for its own citizens and residents over fears of the coronavirus spreading to Islam's holiest cities.

The move came after authorities last week suspended visas for the umrah and barred citizens from the six-nation Gulf Cooperation Council from entering Mecca and Medina.

Saudi Arabia on Thursday declared three new coronavirus cases, bringing the total number of reported infections to five.

The umrah, which refers to the Islamic pilgrimage to Mecca that can be undertaken at any time of year, attracts millions of Muslims from across the globe annually.

The decision to suspend the umrah mirrors a precautionary approach across the Gulf to cancel mass gatherings from concerts to sporting events.

It comes ahead of the holy fasting month of Ramadan starting in late April, which is a favoured period for pilgrimage.

It is unclear how the coronavirus will affect the hajj, due to start in late July.

Some 2.5 million faithful travelled to Saudi Arabia from across the world in 2019 to take part in the hajj, which is one of the five pillars of Islam as Muslim obligations are known.

The event is a massive logistical challenge for Saudi authorities, with colossal crowds cramming into relatively small holy sites, making attendees vulnerable to contagion.

Already reeling from slumping oil prices, the kingdom risks losing billions of dollars annually from religious tourism as it tightens access to the sites.

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Agencies
July 30,2020

Kuwait will allow citizens and residents to travel to and from the country, starting August 1, the government communication center tweeted on early Thursday, citing a cabinet decision.

The decision excludes residents coming from Bangladesh, Philippines, India, Sri Lanka, Pakistan, Iran, Nepal.

Last month, Kuwait announced it would partially resume commercial flights from August, but does not expect to reach full capacity until a year later, as its aviation sector gradually recovers from a suspension sparked by the Covid-19 crisis.

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Agencies
May 19,2020

Ramallah, May 19: India has given USD 2 million in aid to the United Nations Relief and Works Agency working for the welfare of Palestinian refugees in support of its core programmes and services, including education and health, amidst the coronavirus crisis.

India had increased its annual contribution to the UNRWA from USD 1.25 million in 2016 to USD 5 million in 2019. It pledged another USD 5 million for 2020 which opens its way to become a member of the agency's advisory commission, according to official sources.

The United Nations Relief and Works Agency (UNRWA) applauded India's financial support to keep its basic services operating, especially under the challenges posed by the COVID-19 pandemic.

The contribution was presented to the UN agency by the Representative of India (ROI) to the State of Palestine, Sunil Kumar.

"On behalf of the agency, I would like to express my deep appreciation to the Government of India for advancing part of its contribution, which will help UNRWA address cash flow challenges," Marc Lassouaoui, chief of the Donor Relations at the agency said.

"The continued determination and commitment of India in support of the Palestine refugees is commendable, in particular under the current circumstances brought on us by COVID-19," he said.

"On behalf of the Government of India, I would like to express my appreciation for the commendable work and endeavours carried out by the UNRWA. We believe that our contribution will support the agency's activities in providing the needed assistance to Palestinian refugees, and assist in achieving their full human development potential," Kumar said.

India's contribution will support the agency's "dire" financial situation due to the funding gaps that risk its core services to the Palestinian refugees in the fields of education and health.

About 3.1 million Palestine refugees depend on health services provided by the UNRWA. At the same time, the agency's schools educate 526,000 students every year, of which half are female.

The agency was created in December 1949 by the UN to support the relief and human development of Palestinian refugees.

The UNRWA definition of “refugee” covers Palestinians who fled or were expelled from their homes during the 1948 War.

Meanwhile, India is preparing medical supplies for the Palestinians to help them in their fight against the coronavirus which is likely to reach the Palestine soon, the Indian mission in the West Bank said in a statement.

Prime Minister Narendra Modi last month spoke to Palestinian President Mahmoud Abbas over phone and discussed the challenges posed by the COVID-19 pandemic. He appreciated efforts being made by the Palestinian Authority (PA) to protect its population and assured all possible support from India.

External Affairs Minister S Jaishankar later talked to his Palestinian counterpart Riad Malki and reiterated India's commitment to support Palestine in its battle against the global pandemic.

So far, 554 COVID-19 cases have been detected in the West Bank under PA and east Jerusalem, with two casualties.

Twenty people were found infected with the virus in Gaza, of which 14 are said to have recovered.

Separately, 17 agreements have been signed under an India-Palestine development partnership between the two sides in the fields of agriculture, health care, information technology, youth affairs, consular affairs, women empowerment and media in the past five years.

New Delhi is to provide an assistance of around USD 72 million through these agreements in projects like the post-2014 war reconstruction efforts in Gaza, construction of five schools, setting up a centre of excellence for information and communication technologies at Al-Quds University and developing a satellite centre in Ramallah.

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