UAE foreign minister, PLO official discuss global push for ceasefire

UAE foreign minister, PLO official discuss global push for ceasefire
(WAM)
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Updated 21 December 2023
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UAE foreign minister, PLO official discuss global push for ceasefire

UAE foreign minister, PLO official discuss global push for ceasefire

DUBAI: The UAE foreign minister met a senior Palestinian Authority official in Abu Dhabi, where they discussed international efforts to achieve a ceasefire in Gaza, the Emirati state news agency reported on Thursday.
Sheikh Abdullah bin Zayed Al-Nahyan met Palestine Liberation Organization Secretary-General Hussein Sheikh also to discuss the humanitarian crisis in the coastal enclave.
In the meeting, Sheikh Abdullah stressed the importance of prioritizing negotiations toward a framework for a two-state peace deal between the Israelis and Palestinians, WAM reported.
The UAE has condemned the Oct. 7 Hamas attack and called on the Palestinian group to release hostages held in Gaza.

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UAE Foreign Minister Sheikh Abdullah bin Zayed Al-Nahyan stressed the importance of prioritizing negotiations toward a framework for a two-state peace deal.

The UAE has also condemned Israel’s bombardment of the enclave and used its non-permanent seat on the UN Security Council to push for a ceasefire in the war.
The US said that there are “serious and widespread concerns” that the current draft of a UN Security Council resolution that aims to boost humanitarian aid to the Gaza Strip “could actually slow down” deliveries.
“The goal of this resolution is to facilitate and help expand humanitarian assistance getting into Gaza, and we cannot lose sight of that purpose,” said Nate Evans, spokesperson for the US mission to the UN.
“We must ensure any resolution helps and doesn’t hurt the situation on the ground,” he said in New York.


Saudi FM participates in Cairo conference to support humanitarian work in Gaza

Saudi FM participates in Cairo conference to support humanitarian work in Gaza
Updated 2 min 14 sec ago
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Saudi FM participates in Cairo conference to support humanitarian work in Gaza

Saudi FM participates in Cairo conference to support humanitarian work in Gaza
  • Prince Faisal says crisis has ‘reached an unbearable limit’
  • Kingdom has provided more than 6,600 tonnes of food, shelter, medical supplies, to Palestinians in Gaza since October 2023

RIYADH: The Kingdom’s Foreign Minister Prince Faisal bin Farhan chaired Saudi Arabia’s delegation at Monday’s Cairo Ministerial Conference to Enhance the Humanitarian Response in Gaza.

Prince Faisal said during his speech that the humanitarian crisis in Palestine had “reached an unbearable limit, and in no way can the deterioration of the situation in the region be allowed any more.”

At least 44,000 Palestinians have lost their lives during Israel’s military campaign in the Gaza Strip since October 2023, and more than 100,000 have been injured.

Prince Faisal said that Israeli actions against children, women and the elderly; the destruction of infrastructure in the Gaza Strip; the forced displacement of 2 million Palestinians and the confiscation of their lands would “perpetuate suffering, fuel extremism in the region … and undermine the chances of coexistence and sustainable peace.”

He said that Israel’s illegal settlements in the occupied West Bank and government policies to affect the legal and historic status of Jerusalem “represent direct attacks on international law and threaten the two-state solution.”

Prince Faisal stressed the importance of an immediate and permanent ceasefire in the Gaza Strip, the Saudi Press Agency reported.

He also warned that the Israeli-approved law to prohibit the UN Relief and Works Agency for Palestine Refugees from working inside Israel “would have catastrophic consequences for the West Bank and the Gaza Strip.”

Saudi Arabia has provided more than 6,600 tonnes of food, shelter equipment and medical supplies, including ambulances, to Palestinians in Gaza since October 2023.

Prince Faisal said that the “brutal genocide in Gaza is the biggest test of the international order,” and called for the recognition of the Palestinian state and the respect of all UN resolutions.

Abdullah Al-Rabeeah, supervisor general of the Saudi aid agency KSrelief, also attended the conference.


VTB’s ‘Russia Calling!’ forum on Dec. 4-5

VTB’s ‘Russia Calling!’ forum on Dec. 4-5
Updated 5 min 13 sec ago
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VTB’s ‘Russia Calling!’ forum on Dec. 4-5

VTB’s ‘Russia Calling!’ forum on Dec. 4-5

The 15th VTB Investment Forum “Russia Calling!” will take place on Dec. 4-5 in Moscow. The theme of the forum is “The future of capital and the capital of the future.” 

Traditionally, Russian President Vladimir Putin will deliver his keynote speech at the plenary session on the first day of the forum. He will answer questions from delegates representing the finance and investment communities of China, India, Turkiye, the Gulf states, Africa, Central and Southeast Asia, and other world regions. Andrey Kostin, president and chairman of the management board of VTB Bank, will moderate the session.

“Russia is demonstrating resilience in demanding circumstances as it adapts to macroeconomic challenges and opens avenues for domestic growth. Today’s situation is not only a test, but an opportunity to develop technological sovereignty, stimulate production and reinforce financial stability. As a leading bank, we continue to support innovative projects and introduce new tools to attract investments, ensuring sustainable economic growth over the long term,” said Kostin.

The macroeconomic session of the first day of the forum will focus on Russia’s monetary and budgetary policies, mechanisms of cooperation between countries Russia is building ties with, support for long-term investments and development of labor and HR potential. Speakers include: Minister of Finance of the Russian Federation Anton Siluanov, Chairman of the Central Bank of Russia Elvira Nabiullina, Minister of Economic Development of the Russian Federation Maxim Reshetnikov, and Deputy Head of the Presidential Administration Maxim Oreshkin. The session will be attended by representatives of the domestic and foreign business community. VTB’s First Deputy President and Chairman of the Management Board Dmitry Pyanov will moderate the session.

The second day of the forum is dedicated to retail investment and financial market development. It starts with a presentation of “VTB My Investment’s” strategy for 2025 and continues with sessions on the most pressing issues facing the stock market. Participants will include representatives of issuing companies, government agencies and retail investors.

The sessions will be streamed online and the agenda will be available on the official website.

The “Russia Calling!” forum has been held annually since 2009. Each year, the event attracts a distinguished and influential audience, which includes representatives of government agencies, heads of Russian and international companies, and investors. The forum’s agenda addresses the critical issues currently facing the global economy, finance, and business sectors. 

VTB Group boasts an international network that sets it apart from other Russian banks, driving the development of international cooperation and an alternative system of international payments. The group operates subsidiaries and associated banks in Armenia, Belarus, Kazakhstan, Azerbaijan, Vietnam, a branch in India, a branch and a representative office in China, and a representative office in Iran. The bank’s own closed-loop payment infrastructure ensures the reliability and security of settlements via VTB.


Riyadh forum to address inclusivity in social protection

Riyadh forum to address inclusivity in social protection
Updated 5 min 45 sec ago
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Riyadh forum to address inclusivity in social protection

Riyadh forum to address inclusivity in social protection
  • Focus on sustainable insurance systems and strengthening regional cooperation
  • Initiatives proposed at the forum could reshape the future of social security in the region

RIYADH: The Regional Social Security Forum for Asia and the Pacific will be held in Riyadh from Dec. 3 to 5, under the patronage of Saudi Finance Minister and Chairman of the General Organization for Social Insurance Mohammed Al-Jadaan.

Organized by the International Social Security Association every three years, the forum is a key regional gathering on social security and insurance protection.

Saudi Arabia’s hosting reflects its commitment to addressing future challenges and opportunities in social security, the Saudi Press Agency reported.

It also emphasizes the Kingdom’s role as a center for regional and international cooperation, strengthening its leadership in fostering strategic partnerships and knowledge exchange.

The forum will discuss evolving social protection needs, the leadership of social security institutions in developing protection systems, and the impact of economic and demographic changes. It will also discuss the transformation of service management and delivery, and how social security enhances resilience and sustainability.

Representatives from about 30 Asia-Pacific countries, members of the International Social Security Association, will attend. More than 400 participants, including institutional leaders, social protection experts, decision-makers, and representatives from 58 international organizations, will meet to discuss and improve social protection systems.

Marwan Al-Ghamdi, assistant governor for strategy and transformation at the General Organization for Social Insurance, told Arab News that the Kingdom’s hosting of the forum reflects its commitment to strengthening international cooperation to address social insurance challenges and develop innovative policies for inclusivity and sustainability.

“The organization’s mission, focused on achieving social protection for individuals and communities, depends on enhancing sustainable insurance systems, in addition to empowering future generations to build a prosperous future for all,” Al-Ghamdi said.

He added that the Kingdom’s experience in developing social protection systems is as an inspiring model for international institutions and the social insurance sector globally. This experience enriches forum discussions by showing programs that strengthen social protection as part of the UN’s Sustainable Development Goals.

Hosting the forum offers an opportunity to reinforce regional cooperation and exchange best practices, strengthening social insurance systems in Asia-Pacific countries, Al-Ghamdi said.

Discussions may lead to innovative services and products that address challenges such as bridging gaps in cover and protecting workers. Successful experiences also raise awareness of the importance of comprehensive social protection and achieving the SDGs, he added.

Al-Ghamdi said that the forum facilitates the exchange of experiences and the formulation of shared policies to address challenges. Participants can launch innovative initiatives to enhance sustainable, high-quality social protection systems in the region.

The initiatives proposed at the forum could reshape the future of social security in the region, as partnerships help develop effective insurance strategies that meet community needs and strengthen the social insurance sector, he added.


Saudi Media Academy celebrates graduation of first trainees

Saudi Media Academy celebrates graduation of first trainees
Updated 44 min 48 sec ago
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Saudi Media Academy celebrates graduation of first trainees

Saudi Media Academy celebrates graduation of first trainees
  • Minister of Media Salman Al-Dossary: This first cohort of electronic program graduates marks a step toward empowering national staff to face the challenges of modern media
  • Ceremony also featured the launch of the in-person global programs track in collaboration with international universities

RIYADH: The Saudi Media Academy recently celebrated the graduation of its first cohort of trainees from the electronic programs track at Misk City in Riyadh.

The event was attended by the assistant minister of media and the academy’s chairman, Abdullah Al-Maghlooth, along with other board members.

Al-Maghlooth highlighted the support and directives of Minister of Media Salman Al-Dossary, aimed at enhancing training outcomes and developing human resources to drive the future of media in the Kingdom. He commended the academy’s efforts in reaching the milestone.

“Today, we celebrate the success of the nation’s youth, who represent a group of contributors to the future of Saudi media,” he said.

“This first cohort of electronic program graduates marks a step toward empowering national staff to face the challenges of modern media and shape a more innovative future.”

Academy CEO Khalid Al-Abideen thanked Al-Dossary and Al-Maghlooth for their continuous support, which has enabled the academy to offer high-quality programs and contribute to building a dynamic media sector that aligns with global trends.

The ceremony also featured the launch of the in-person global programs track in collaboration with international universities. The program aims to develop leadership and technical skills for media professionals in line with Vision 2030.

Additionally, a memorandum of understanding was signed between the academy and the General Authority of Media Regulation to collaborate on qualifying media professionals, developing joint training programs and sharing expertise to improve sector regulation.

The academy also signed a strategic cooperation agreement with Mantiq Al-Najah Consulting Co. to enhance training in the sports media sector, focusing on artificial intelligence technologies in sports media.


‘Beyond imagination,’ Pakistani PM says as November inflation slows to 4.9% year-on-year

‘Beyond imagination,’ Pakistani PM says as November inflation slows to 4.9% year-on-year
Updated 55 min 44 sec ago
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‘Beyond imagination,’ Pakistani PM says as November inflation slows to 4.9% year-on-year

‘Beyond imagination,’ Pakistani PM says as November inflation slows to 4.9% year-on-year
  • Sharif says inflation rate lower than government’s forecast, lowest in nearly six years
  • Last year Pakistan struggled through inflation as high as 38%,historic depreciation in currency

ISLAMABAD: Prime Minister Shehbaz Sharif said it was “beyond imagination” that Pakistan’s annual consumer inflation had slowed to 4.9% in November, lower than the government’s forecast and the lowest in nearly six years.

The finance ministry had projected inflation would slow to 5.8%-6.8% in November and ease to 5.6%-6.5% in December, it said in its monthly economic report published last week. The South Asian country slashed interest rates by 250 basis points earlier in November to help revive a sluggish economy amid a big drop in the rate of inflation.

Consumer inflation cooled from 7.2% in October, a sharp drop from a multi-decade high of nearly 40% in May 2023. Consumer prices in November rose +0.5% from October, according to the Pakistan Bureau of Statistics.

“After 70 months, the inflation rate in Pakistan in November is at its lowest level. In 2018, it was 3.5% during the era of [Prime Minister] Mian Mohammad Nawaz Sharif, this month, it has reached 4.9%,” Sharif told his cabinet in televised comments.

“This is a great grace of God. It is beyond imagination. Because inflation is the only tool that increases poverty or brings relief. This is a record after 70 months, this decrease will reduce the burden on the poor.”

Pakistan's annual consumer price inflation rate slowed to 9.6% in August, the first single-digit reading in almost three years.

A last-minute IMF rescue package last summer had helped Pakistan avert a sovereign default but, to secure it, the country had to revise its budget, and raise interest rates, taxes, and electricity and gas prices.

As a result, during the period, Pakistan struggled through inflation as high as 38%, historic depreciation in its currency, and contraction of the economy.

A new 37-month $7 billion loan bailout was approved for Pakistan by the IMF in September.