MWL, GCC welcome UN court’s ruling on Israeli actions in Gaza

MWL, GCC welcome UN court’s ruling on Israeli actions in Gaza
The UN’s top court found there was a case to answer about whether Palestinian rights were being denied. (AFP)
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Updated 28 January 2024
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MWL, GCC welcome UN court’s ruling on Israeli actions in Gaza

MWL, GCC welcome UN court’s ruling on Israeli actions in Gaza
  • GCC chief urges swift international action to ensure Israel’s compliance with verdict

RIYADH: The Muslim World League on Saturday welcomed the UN’s top court’s preliminary ruling that any acts of genocide, or statements that call for genocide, aimed at Palestinians in the Gaza Strip must cease.

The Hague-based International Court of Justice ruled on Friday in favor of a South African request to impose emergency measures on Israel over its war in Gaza, and dismissed an Israeli petition to have the charge of genocide thrown out.

The court found there was a case to answer about whether Palestinian rights were being denied. The 17-judge panel instructed Israel to report back in a month on its progress in complying with the ruling.

The interim ruling did not reach a decision on the merits of the genocide allegation, which could take years.

In a statement, the MWL commended South Africa’s efforts and stressed the need for continued work from the international community to stop the war and ensure the protection of civilians in Gaza and the safe delivery of humanitarian aid.

GCC Secretary-General Jasem Albudaiwi said that the court’s ruling against Israel confirms its “brutal crimes” against the Palestinian people in the Gaza Strip.

Albudaiwi commended the court for its accurate documentation of these crimes, highlighting the court’s commitment to following up on the case and making the appropriate decisions in the future based on Israel’s adherence to the verdict.

“The International Court of Justice’s verdict is in line with international laws and treaties related to the protection of innocent civilians, especially the Convention on the Prevention and Punishment of the Crime of Genocide, which Israel violated by targeting civilian institutions and hospitals, which led to the killing and wounding of tens of thousands of innocent civilians in the Gaza Strip,” Albudaiwi said.

The GCC chief commended the efforts exerted by South Africa and the legal team that prepared the case.

He also underscored the urgent need for the international community to ensure that Israel complies with the verdict and immediately stops its attacks on the Gaza Strip, as well as the need to halt the displacement of Palestinians and provide them with all necessary aid.

The secretary-general reiterated the GCC member states’ commitment to supporting the Palestinian people in realizing their legitimate rights, based on the Arab Peace Initiative and the relevant international resolutions that call for the establishment of an independent and internationally-recognized state with East Jerusalem as its capital.

Saudi Arabia’s Foreign Ministry on Friday also welcomed the ruling and stressed its “categorical rejection of the Israeli occupation’s practices and violations of the UN Convention on Genocide.”

The ministry emphasized the importance of the international community taking further measures to stop the violence in the Gaza Strip, providing protection for the Palestinian people, and holding Israeli forces accountable for their systematic violations of international law.


Saudi education POS defies trend, surges 178%: SAMA data

Saudi education POS defies trend, surges 178%: SAMA data
Updated 26 min 42 sec ago
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Saudi education POS defies trend, surges 178%: SAMA data

Saudi education POS defies trend, surges 178%: SAMA data

RIYADH: Education spending in Saudi Arabia soared 178.6 percent to SR249.5 million ($66.4 million) during the week of Nov. 17–23, bucking the broader decline across other sectors. 

According to the Saudi Central Bank’s weekly point-of-sale transactions bulletin, education was the sole sector to record growth. Transactions in the category climbed 62.3 percent to 164,000. 

By contrast, other consumer spending categories experienced sharp declines. Clothing and footwear posted the steepest drop, falling 25.1 percent to SR694 million. Hotel expenditures followed, dipping 23.5 percent to SR305.6 million. 

Spending in restaurants and cafes, which accounted for the second-largest share of total POS value, decreased 19.6 percent to SR1.66 billion. 

Overall, Saudi Arabia’s POS transactions shrank 13.1 percent week on week, with total expenditures declining to SR11.5 billion from SR13.2 billion in the prior week.  

The central bank’s figures showed that the electronics sector saw a 9.3 percent slide to SR179.6 million, while telecommunications expenditures dropped 11.2 percent to SR104 million. 

The food and beverages category — the largest contributor to POS transactions — saw a 9.8 percent dip to SR1.7 billion. Miscellaneous goods and services, which ranked third, fell 10.6 percent to SR1.3 billion. Together, the top three categories accounted for 41.3 percent, or SR4.7 billion, of the week’s total transaction value. 

At 3 percent, the smallest decrease occurred in spending on construction and building materials, leading total payments to SR340.5 million. Expenditures in the health sector dipped by 7.3 percent to SR710 million.  

Regional insights 

Geographically, Riyadh dominated POS transactions, representing 35.9 percent of the total, with expenses in the capital reaching SR4.1 billion — an 8.2 percent decrease from the previous week.  

Jeddah followed with a 14.2 percent dip to SR1.5 billion, and Dammam came in third at SR590.5 million, down 7.9 percent. 

Hail experienced the most significant dip in spending, decreasing 20 percent to SR177.4 million. Tabouk and Abha recorded declines by 11.4 percent and 9.8 percent reaching SR209 million and SR134.9 million, respectively. 

Makkah and Madinah saw the largest transaction decreases, falling 15.2 percent and 14.9 percent, respectively, to 7.6 million and 7.8 million transactions. 


World leaders react to Lebanon war ceasefire

World leaders react to Lebanon war ceasefire
Updated 3 sec ago
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World leaders react to Lebanon war ceasefire

World leaders react to Lebanon war ceasefire

PARIS: World leaders have welcomed a ceasefire deal between Israel and Lebanese militant group Hezbollah, which came into force on Wednesday morning (0200 GMT).

The ceasefire between Israel and Lebanon will protect Israel from the threat of Iran-backed militant group Hezbollah and create the conditions for a “lasting calm,” US President Joe Biden and French President Emmanuel Macron said ahead of the truce coming into force.
“The announcement today will cease the fighting in Lebanon, and secure Israel from the threat of Hezbollah and other terrorist organizations operating from Lebanon,” the leaders said in a joint statement.
The United States and France will work “to ensure this arrangement is fully implemented” and lead international efforts for “capacity-building” of the Lebanese army, they added.
Biden welcomed the deal as “good news” and also said the US would lead a fresh effort to secure a truce between Israel and Palestinian militant group Hamas in Gaza.
Macron said the Lebanon ceasefire should “open the path” for an ending to the war in Gaza.
Israeli Prime Minister Benjamin Netanyahu thanked the US president for his “involvement in securing the ceasefire agreement.”
He told Biden in a call that he appreciated the US leader’s “understanding that Israel will maintain its freedom of action in enforcing it,” according to Netanyahu’s office.
Ahead of Israel’s approval of the deal, Netanyahu said the “length of the ceasefire depends on what happens in Lebanon” and the truce would allow Israel to “intensify” pressure on Hamas and focus on the “Iranian threat.”
Lebanese Prime Minister Najib Mikati said the ceasefire was a “fundamental step” toward restoring stability in the region.
Thanking France and the US for their involvement, Mikati also reiterated his government’s commitment to “strengthen the army’s presence in the south.”
Iran, a backer of both Hezbollah and Hamas, welcomed the end of Israel’s “aggression” in Lebanon, after the ceasefire came into force.
“Welcoming the news” of the end of Israel’s “aggression against Lebanon,” foreign ministry spokesman Esmaeil Baghaei said, stressing Iran’s “firm support for the Lebanese government, nation and resistance.”
China said it was “paying close attention to the current situation in Lebanon and Israel.”
“We support all efforts conducive to easing tensions and achieving peace and welcome the agreement reached by relevant parties on a ceasefire,” foreign ministry spokeswoman Mao Ning said.
German Foreign Minister Annalena Baerbock welcomed the deal, hailing it as “a ray of hope for the entire region.”
“People on both sides of the border want to live in genuine and lasting security,” Baerbock said, calling the deal “a success for diplomacy.”
British Prime Minister Keir Starmer praised a “long overdue” ceasefire that would “provide some measure of relief to the civilian populations” of both Israel and Lebanon.
Calling for the truce to be “turned into a lasting political solution in Lebanon,” Starmer vowed to be at the “forefront of efforts to break the ongoing cycle of violence in pursuit of a long-term, sustainable peace in the Middle East.”
EU chief Ursula von der Leyen hailed the “very encouraging news” of the ceasefire, saying it would increase Lebanon’s “internal security and stability.”
The announcement was welcome news “first and foremost for the Lebanese and Israeli people affected by the fighting,” Von der Leyen said.
“Lebanon will have an opportunity to increase internal security and stability thanks to Hezbollah’s reduced influence,” she said.
A top UN official welcomed the ceasefire agreement, but warned that “considerable work lies ahead” to implement the deal.
“Nothing less than the full and unwavering commitment of both parties is required,” said UN special coordinator for Lebanon, Jeanine Hennis-Plasschaert.

Jordan said the ceasefire deal between Israel and Hezbollah should prompt greater international efforts to bring an end to the war in Gaza.
In an official statement, the kingdom said the move was also a first step towards reversing a dangerous escalation of tensions across the region that had threatened peace and security.


Israeli strikes on Gaza Strip leave 15 dead, medics say

Israeli strikes on Gaza Strip leave 15 dead, medics say
Updated 30 min 33 sec ago
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Israeli strikes on Gaza Strip leave 15 dead, medics say

Israeli strikes on Gaza Strip leave 15 dead, medics say

CAIRO: Israeli military strikes across the Gaza Strip killed 15 people on Wednesday, some of them in a school housing displaced people, medics in Gaza said, adding that the fatalities included two sons of a former Hamas spokesman.
Health officials in the Hamas-run enclave said eight Palestinians were killed and dozens of others wounded in an Israeli strike that hit the Al-Tabeaeen School, which was sheltering displaced families in Gaza City. Among those killed were two sons of former Hamas spokesman, Fawzi Barhoum, according to medics and Barhoum himself.
In the Shejaia suburb of Gaza City, another strike killed four people, while three people were killed in an Israeli air strike in Beit Lahiya on the northern edge of the enclave where army forces have been operating since last month.
Separately, a ceasefire between Israel and Iran-backed group Hezbollah came into effect on Wednesday after both sides accepted an agreement brokered by the US and France, a rare victory for diplomacy in a region shaken by two wars for over a year.
Iran-backed Hezbollah militants began firing missiles at Israel in solidarity with Hamas after the Palestinian militant group attacked Israel in October of 2023, killing around 1,200 people and capturing over 250 hostages, Israel has said, triggering the Gaza war.
Israel’s 13-month campaign in Gaza has left nearly 44,200 people dead and displaced nearly all the enclave’s population at least once, according to Gaza health officials.
Months of attempts to negotiate a ceasefire have yielded scant progress and negotiations are now on hold, with mediator Qatar saying it has told the two warring parties it would suspend its efforts until the sides are prepared to make concessions.
US President Joe Biden said on Tuesday his administration was pushing for a ceasefire in Gaza and that it was possible that Saudi Arabia and Israel could normalize relations.


Israeli military says it fired to stop suspects reaching Lebanon no-go zone

Israeli military says it fired to stop suspects reaching Lebanon no-go zone
Updated 41 min 41 sec ago
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Israeli military says it fired to stop suspects reaching Lebanon no-go zone

Israeli military says it fired to stop suspects reaching Lebanon no-go zone

DUBAI: Israeli forces on Wednesday fired at several vehicles with suspects to prevent them from reaching a no-go zone in Lebanese territory and the suspects moved away, the Israeli military said in a statement, hours after a ceasefire between Israel and Lebanese militant group Hezbollah came into effect at 0200 GMT.


Oil Updates – prices steady with focus on Israel-Hezbollah ceasefire, OPEC+ policy

Oil Updates – prices steady with focus on Israel-Hezbollah ceasefire, OPEC+ policy
Updated 27 November 2024
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Oil Updates – prices steady with focus on Israel-Hezbollah ceasefire, OPEC+ policy

Oil Updates – prices steady with focus on Israel-Hezbollah ceasefire, OPEC+ policy

TOKYO: Oil prices steadied on Wednesday, with markets assessing the potential impact of a ceasefire deal between Israel and Hezbollah, and ahead of Sunday’s OPEC+ meeting of producers.

Brent crude futures rose 5 cents to $72.86 a barrel by 7:15 a.m. Saudi time, while US West Texas Intermediate crude futures were up 3 cents at $68.80 a barrel.

Both benchmarks settled lower on Tuesday after Israel agreed to a ceasefire deal with Lebanon’s Hezbollah.

A ceasefire between Israel and Hezbollah will take effect on Wednesday after both sides accepted an agreement brokered by the US and France, US President Joe Biden said on Tuesday.

The accord cleared the way for an end to a conflict across the Israeli-Lebanese border that has killed thousands of people since it was ignited by the Gaza war last year.

Israeli Prime Minister Benjamin Netanyahu said he was ready to implement the deal with Lebanon and would “respond forcefully to any violation” by Hezbollah.

“Market participants are assessing whether the ceasefire will be observed,” said Hiroyuki Kikukawa, president of NS Trading, a unit of Nissan Securities.

“We expect WTI to trade within the range of $65-$70 a barrel, factoring in weather conditions during the Northern Hemisphere’s winter, a potential increase in shale oil and gas production under the incoming Donald Trump administration in the US, and demand trends in China,” he said.

On the Organization of the Petroleum Exporting Countries and allies led by Russia, or OPEC+, sources said the group is discussing a further delay to a planned oil output hike that was due to start in January, ahead of a Dec. 1 meeting to decide policy for early 2025.

The group pumps about half the world’s oil and had planned to gradually roll back oil-production cuts with small increases over many months in 2024 and 2025. But a slowdown in Chinese and global demand, and rising output outside the group, have put a dampener on that plan.

“Our longstanding base case has been that OPEC+ defers the tapering of output cuts all the way through 2025,” Citi Research analysts said in a note, adding that the tapering could start in April instead of January.

“From the producer group’s point of view, holding off the unwind could allow the market the chance to be more balanced, via supply disruptions or more resilient demand, while bringing barrels back makes lower prices a foregone conclusion.”

In the US, President-elect Donald Trump said he would impose a 25 percent tariff on all products coming into the US from Mexico and Canada. Crude oil would not be exempt from the trade penalties, sources told Reuters on Tuesday.

Meanwhile, US crude oil stocks fell while fuel inventories rose last week, market sources said, citing API figures on Tuesday.

Crude stocks fell by 5.94 million barrels in the week ended Nov. 22, exceeding analysts’ forecast of a drop of about 600,000 barrels.