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Saudi foreign minister chairs meeting of Arab foreign ministers in Riyadh

Saudi foreign minister chairs meeting of Arab foreign ministers in Riyadh
Saudi FM Prince Faisal bin Farhan chairs meeting of Arab foreign ministers in Riyadh. (SPA)
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Updated 10 November 2023
Arab News
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Saudi foreign minister chairs meeting of Arab foreign ministers in Riyadh

Saudi foreign minister chairs meeting of Arab foreign ministers in Riyadh
  • Prince Faisal urged the international community to fulfill its responsibilities regarding the Israeli war in Gaza
Updated 10 November 2023
Arab News
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RIYADH: Saudi Foreign Minister Prince Faisal bin Farhan presided over a preparatory meeting of Arab foreign ministers on Thursday in Riyadh, the Saudi Press Agency reported.

The meeting came ahead of the extraordinary session of the Arab summit on the Israeli violence in Gaza, which is scheduled for Saturday.

Prince Faisal urged the international community, including the UN’s Security Council, to fulfill its responsibilities by establishing a ceasefire, providing civil protection, releasing hostages and prisoners, and halting the forced displacement of Palestinians, in accordance with international law.

The Saudi foreign minister also called for the lifting of the siege on Gaza and the delivery of relief and medical aid without restrictions and in a sustainable manner to alleviate the humanitarian catastrophe that has claimed the lives of innocent people — more than half of whom are women and children — and which threatens regional and global security and stability.

He added that the Saudi aid agency KSrelief had launched a donation campaign through the Sahem platform to provide relief to the Palestinian people in Gaza, and that the Kingdom would spare no effort in attempting to alleviate the human suffering of the Palestinian people.

Prince Faisal said that the Arab world must not lose sight of the goal of establishing a Palestinian state according to 1967 borders and with East Jerusalem as its capital.

He added that the Kingdom was keen on consulting and coordinating with international allies to find a solution to the crisis.

Topics: Saudi Foreign Minister

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Taiwan shuts down for Typhoon Krathon, torrential rain forecast

Taiwan shuts down for Typhoon Krathon, torrential rain forecast
Updated 18 sec ago
Reuters
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Taiwan shuts down for Typhoon Krathon, torrential rain forecast

Taiwan shuts down for Typhoon Krathon, torrential rain forecast
  • Although the typhoon has weakened, the threats from a storm surge, strong winds and rain remain
  • The typhoon has revived the older generation’s bad memories of Thelma, prompting extra precautions
Updated 18 sec ago
Reuters

KAOHSIUNG, Taiwan: Taiwan shut down on Wednesday, grounding hundreds of flights and closing schools, offices and financial markets ahead of the arrival of a weakening Typhoon Krathon, forecast to lash the coast with storm surges and torrential rain.
Officials in the key port city of Kaohsiung, set to be in the eye of the storm, told people to stay home and avoid the sea, rivers and mountains, warning of a repeat of 1977’s Typhoon Thelma that killed 37 and devastated the city of 2.7 million.
Although the typhoon has weakened, the threats from a storm surge, strong winds and rain remain as it slowly makes its way toward Taiwan’s coast, weather forecasters said.
The typhoon would lose power once it hit land, said Kaohsiung mayor Chen Chi-mai, but would still bring intense winds and rain.
“But if it moves north, the winds will strengthen again, so the threat to Kaohsiung will continue to exist, and people cannot take this lightly,” he told reporters.
All the island’s cities and counties declared a day off, shutting financial markets and canceling domestic flights, along with 246 international ones, while more than 10,000 people were evacuated, mostly in the south and east.
Typhoons often hit Taiwan’s mountainous and sparsely populated east coast facing the Pacific, but Krathon is set to make landfall on its flat western plain.
It is forecast to hit between Kaohsiung and its neighboring city of Tainan in the early hours of Thursday, before heading northeast up toward Taipei, the capital, the Central Weather Administration (CWA) said.
“Because of Typhoon Gaemi being quite severe earlier this year, everyone is more cautious and prepared this time around,” said sales representative Yu Ren-yu, 35, picking up sandbags at a government office, referring to July’s storm that killed 11.
“First be prepared, then we can face this typhoon.”
The typhoon has revived the older generation’s bad memories of Thelma, prompting extra precautions, said Chou Yi-tang, a government official working in the Siaogang district home to the airport.
“We were hit directly by the eyewall,” he added, describing events almost five decades ago. “Power was out for two weeks and no water for almost a month. It was disastrous.”
More than 700 sandbags have been distributed in his district, a record for a typhoon, while authorities are making more to meet demand, Chou said.
Taiwan’s defense ministry said it had put more than 38,000 troops on standby.
The fire department reported 46 injuries, mostly in the mountainous eastern county of Taitung, with one person missing in the central county of Yunlin.
The north-south high speed rail line stayed open, but scaled back services.
TSMC, the world’s largest contract chipmaker and a major Apple and Nvidia supplier, said on Tuesday it did not expect the typhoon would have a significant impact on operations.
TSMC’s factories are along the west coast, some in the city of Tainan.

Topics: Taiwan

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Israeli strikes pound Beirut’s southern suburbs on Wednesday

Israeli strikes pound Beirut’s southern suburbs on Wednesday
Updated 2 min 54 sec ago
AFP
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Israeli strikes pound Beirut’s southern suburbs on Wednesday

Israeli strikes pound Beirut’s southern suburbs on Wednesday
  • Five Israeli strikes hit Beirut’s southern suburbs early Wednesday
  • Israeli military said it was targeting sites of the Hezbollah group 
Updated 2 min 54 sec ago
AFP

BEIRUT: At least five Israeli strikes hit Beirut’s southern suburbs early Wednesday, a Lebanese security source said, as the Israeli military said it was targeting Hezbollah sites and issued several evacuation orders.

“At least five Israeli strikes targeted Beirut’s southern suburbs,” the source said, requesting anonymity because they were not authorized to speak to the media.

AFP correspondents heard multiple explosions and saw smoke rising in one area while a fire appeared to burn.

The Israeli military said early Wednesday that it was “currently striking Hezbollah terror targets in Beirut.”

Israel has repeatedly bombarded Beirut’s southern suburbs since last week, a densely-populated Hezbollah bastion where Israel says it is targeting sites belonging to the group.

A massive raid in the area on Friday killed Hezbollah chief Hassan Nasrallah.

Israeli military spokesman Avichay Adraee had earlier on X issued several orders for residents to leave.

“You are located near dangerous Hezbollah facilities, which the IDF (Israeli military) will act against with force in the near future,” read one of the warnings, which mentioned the area of Haret Hreik.

Topics: Israel Beirut

PGA Tour commissioner and Saudi fund governor paired at pro-am event in Scotland

PGA Tour commissioner and Saudi fund governor paired at pro-am event in Scotland
Updated 14 min 21 sec ago
AP
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PGA Tour commissioner and Saudi fund governor paired at pro-am event in Scotland

PGA Tour commissioner and Saudi fund governor paired at pro-am event in Scotland
  • Monahan is paired with Billy Horschel, while Al-Rumayyan is playing with Dean Burmester of South Africa, one of 14 players from LIV Golf in the field
  • Monahan and Al-Rumayyan were involved in meetings in New York on Sept. 11 and 12 as the two sides try to work out a deal
Updated 14 min 21 sec ago
AP

Three weeks after PGA Tour commissioner Jay Monahan met with Saudi Arabia’s financial backer of LIV Golf, they will be together again this week in Scotland, this time inside the ropes.

Monahan and Yasir Al-Rumayyan, the governor of the Public Investment Fund that supports the LIV Golf League, are playing together in the Dunhill Links Championship on the European tour. The tournament starts Thursday.

Monahan is paired with Billy Horschel, while Al-Rumayyan is playing with Dean Burmester of South Africa, one of 14 players from LIV Golf in the field.

In the group directly behind them Thursday at Carnoustie will be Rory McIlroy, who will be playing with his father.

Monahan and Al-Rumayyan were involved in meetings in New York on Sept. 11 and 12 as the two sides try to work out a deal in which PIF would become a minority investor in PGA Tour Enterprises and they try to figure out a team concept and bring the sides together.

The PGA Tour has banned players who moved to LIV Golf, which launched in June 2022. The European tour has allowed players to return to certain events provided they take care of sanctions, a combination of suspensions and fines.

Jon Rahm is playing the Dunhill while he appeals his fines. A ruling on that — an independent panel previously ruled in favor of the European tour — is not expected until next year.

Guy Kinnings, the CEO of the European tour, also was part of the New York meetings and will be at the Dunhill Links. Kinnings expressed optimism that discussions were headed in the right direction although he said, “Long way to go. A lot of detail, complicated stuff to be done.”

There had been concern negotiations had stalled with little movement since June. The LIV Golf League ended on Sept. 22, and the PGA Tour’s FedEx Cup playoffs ended at the end of August.

The tournament pairs a professional with an amateur for three rounds at St. Andrews, Carnoustie and Kingsbarns. Al-Rumayyan also played in the Dunhill a year ago. Monahan has occasionally played in the AT&T Pebble Beach under a similar format.

Topics: golf PGA Tour Yasir Al-Rumayyan Jay Monahan

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PIA, three power distribution companies to be privatized by year-end — finance ministry

PIA, three power distribution companies to be privatized by year-end — finance ministry
Updated 25 min 35 sec ago
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PIA, three power distribution companies to be privatized by year-end — finance ministry

PIA, three power distribution companies to be privatized by year-end — finance ministry
  • Federal government last week delayed the auction of the national flag carrier for the third time
  • Privatization of loss-making SOEs has long been on IMF’s list of preconditions for Pakistan
Updated 25 min 35 sec ago
Arab News Pakistan

ISLAMABAD: Federal Minister for Finance and Revenue Muhammad Aurangzeb said on Tuesday the privatization process for PIA and three power distribution companies would be completed by the end of the year after the government last week delayed the auction of the national flag carrier for the third time. 

Successive governments have steered away from PIA’s disposal as it is likely to be highly unpopular, but progress on privatization is a precondition for cash-strapped Pakistan attached to an International Monetary Fund (IMF) bailout approved last week.

Pakistan plans to sell more than 51 percent of its stake in the loss-making airline as part of the economic reforms suggested by the IMF which approved a long-awaited, 37-month $7 billion bailout deal last Wednesday that will require “sound policies and reforms” to strengthen macroeconomic stability and address structural challenges alongside “continued strong financial support from Pakistan’s development and bilateral partners.”

“The PIA and three DISCO’s privatization process would be made before the end of this year,” Aurangzeb was quoted by state news agency APP as saying.

“The outsourcing of Islamabad and Karachi airport would be made in phases … Right sizing and restructuring of some ministries and departments would also be made before the next fiscal year.”

The government announced in June it had selected six companies qualified to bid for PIA out of a pool of eight after receiving expressions of interest. The initial plan was to finalize the deal to sell PIA on the country’s Independence Day, Aug. 14, but the plan was delayed following requests from bidders who wanted to see the airline’s latest audited accounts and aircraft lease agreements and sought clarity on flights to Europe, which are currently banned.

This was followed by September and October dates for the auction, but those have also not materialized.

Dr. Ahsan Ishaq, a spokesperson for the privatization ministry, told Arab News last week PIA’s cumulative losses alone had surpassed Rs800 billion ($2.86 billion), with the total asset valuation of the airline standing at approximately Rs160 billion ($572 million).

In May, Prime Minister Shehbaz Sharif said Pakistan would privatize all state-owned enterprises (SOEs), with the exception of strategic entities, broadening its initial plans to sell only loss-making state firms to shore up its shaky finances.

Privatization of loss-making SOEs has long been on the IMF’s list of recommendations for Pakistan, which is struggling with a high fiscal shortfall and a huge external financing gap. Foreign exchange reserves are hardly enough to meet a couple of months of controlled imports.

The IMF says SOEs in Pakistan hold sizable assets in comparison with most Middle East countries, at 44 percent of GDP in 2019, yet their share of employment in the economy is relatively low. It estimates almost half of the SOEs operated at a loss in 2019.

Past privatization drives have been patchy, mainly due to a lack of political will, market watchers say.

Topics: PIA PIA privatization

PIA suspends use of Iranian airspace after Tehran’s missile attacks on Israel

PIA suspends use of Iranian airspace after Tehran’s missile attacks on Israel
Updated 43 min 58 sec ago
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PIA suspends use of Iranian airspace after Tehran’s missile attacks on Israel

PIA suspends use of Iranian airspace after Tehran’s missile attacks on Israel
  • Iran’s attack marked it biggest ever military blow against Israel
  • Israel and US have promised to retaliate as fears of wider war intensify
Updated 43 min 58 sec ago
Aamir Saeed

ISLAMABAD: A spokesman for Pakistan’s national carrier said on Wednesday PIA was suspending the use of Iran’s airspace until further notice, hours after Tehran launched missile attacks on Israel, which promised to retaliate as fears of a wider war in the Middle East intensified.

Washington said it would work with longtime ally Israel to make sure Iran faced “severe consequences” for Tuesday’s attack, which Israel said involved more than 180 ballistic missiles.

The United Nations Security Council scheduled a meeting about the Middle East for today, Wednesday, and the European Union called for an immediate ceasefire.

“Until the situation becomes clear, Iranian airspace will not be used,” a spokesman for PIA said. 

PIA uses two corridors of Iran’s airspace: a northern corridor used by flights to Canada and Turkiye and a southern corridor utilized for UAE, Bahrain, Doha and Saudi Arabia flights. 

Iran’s airstrikes marked it biggest ever military blow against Israel.

Sirens sounded across the country and explosions rattled Jerusalem and the Jordan River valley as the entire population was told to move into bomb shelters.

No injuries were reported in Israel, but one man was killed in the occupied West Bank, authorities there said.

Iran described the campaign as defensive and solely aimed at Israeli military facilities. Iran’s state news agency said three Israeli military bases had been targeted.

Tehran said its assault was a response to Israeli killings of militant leaders and aggression in Lebanon against Hezbollah and in Gaza.

Israel activated air defenses against Iran’s bombardment and most missiles were intercepted “by Israel and a defensive coalition led by the United States,” Israeli Rear Admiral Daniel Hagari said in a video on X, adding: “Iran’s attack is a severe and dangerous escalation.”

Israeli Prime Minister Benjamin Netanyahu vowed to hit back.

“Iran made a big mistake tonight — and it will pay for it,” he said at the outset of an emergency political security cabinet meeting late on Tuesday, according to a statement.

Iran’s General Staff of the Armed Forces said in a statement carried by state media that any Israeli response would be met with “vast destruction” of Israeli infrastructure. It also said it would target regional assets of any Israeli ally that got involved.

Fears that Iran and the US could be drawn into a regional war have risen with Israel’s growing assault on Lebanon in the past two weeks, including the start of a ground operation there on Monday, and its year-old conflict in the Gaza Strip.

With inputs from Reuters

Topics: PIA Tehran Iran missile Israel Flights over Iran

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