Israel defense chief to discuss Gaza, Lebanon on US trip

Israel defense chief to discuss Gaza, Lebanon on US trip
Israeli Defense Minister Yoav Gallant speaks during his meeting with U.S. Secretary of Defense Lloyd Austin (not pictured) at the Pentagon in Washington, U.S., March 26, 2024. (Reuters)
Updated 23 June 2024
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Israel defense chief to discuss Gaza, Lebanon on US trip

Israel defense chief to discuss Gaza, Lebanon on US trip

JERUSALEM: Israeli Defense Minister Yoav Gallant headed to Washington on Sunday to discuss the next phase of the Gaza war and escalating hostilities on the border with Lebanon, where exchanges of fire with Hezbollah have stoked fears of wider conflict.
Iran-backed Hezbollah has been trading fire with Israel since the Gaza war erupted more than eight months ago. The group has said it will not stop until there is a ceasefire in Gaza.
“We are prepared for any action that may be required in Gaza, Lebanon, and in more areas,” Gallant said in a statement before setting off to Washington, where he said he will meet his counterpart Lloyd Austin and Secretary of State Antony Blinken.
Earlier in June, Hezbollah targeted Israeli towns and military sites with the largest volleys of rockets and drones in the hostilities so far, after an Israeli strike killed the most senior Hezbollah commander yet.
US envoy Amos Hochstein visited Israel and Lebanon last week in an attempt to cool tensions, amid an uptick in cross-border fire and an escalation in rhetoric on both sides.
Some Israeli officials have linked the ongoing Israeli push into Rafah, the southern area of Gaza where it says it is targeting the last battalions of militant Islamist group Hamas, to a potential focus on Lebanon.
Gallant appeared to make the same link in his statement.
“The transition to Phase C in Gaza is of great importance. I will discuss this transition with US officials, how it may enable additional things and I know that we will achieve close cooperation with the US on this issue as well,” Gallant said.
Scaling back Gaza operations would free up forces to take on Hezbollah, were Israel to launch a ground offensive or step up its aerial bombardments.
Officials have described the third and last phase of Israel’s Gaza offensive as winding down fighting while stepping up efforts to stabilize a post-Hamas rule and begin reconstruction in the enclave, much of which has been laid to waste.
Gallant, a member of Prime Minister Benjamin Netanyahu’s Likud party, has sparred with the premier in the past few months, calling for a clearer post-war plan for Gaza that will not leave Israel in charge, a demand echoed by the White House.
Netanyahu has been walking a tightrope as he seeks to keep his government together by balancing the demands of the defense establishment, including ex-generals like Gallant, and far-right coalition partners who have resisted any post-Gaza strategy that could open the way to a future Palestinian state.
The head of Israel’s parliamentary Foreign Affairs and Defense Committee, Yuli Edelstein, told Army Radio on Sunday that fighting Hezbollah would be complex either way, now or later.
“We are not in the right position to conduct fighting on both the southern front and the northern front. We will have to deploy differently in the south in order to fight in the north,” said Edelstein, also a Likud member.
Edelstein criticized a video by Netanyahu released last week in which the prime minister said the Biden administration was “withholding weapons and ammunitions to Israel.” The video led to a spat with the White House.
President Joe Biden’s administration paused a shipment of 2,000 pound and 500-pound bombs in May over concerns about their impact if used in densely-populated areas of Gaza. Israel was still due to get billions of dollars worth of US weaponry.
“I hope that in the discussions behind closed doors much more will be achieved than by attempts to create pressure with videos,” Edelstein said, referring to Gallant’s trip.
Israel’s ground and air campaign in Gaza was triggered when Hamas-led militants stormed into southern Israel on Oct. 7, killing around 1,200 people and seizing more than 250 hostages, according to Israeli tallies.
The offensive has killed more than 37,400 people, according to Palestinian health authorities, and left nearly the entire population of the enclave homeless and destitute.


Saudi Arabia seeks to establish specialized courts to resolve business disputes 

Saudi Arabia seeks to establish specialized courts to resolve business disputes 
Updated 32 sec ago
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Saudi Arabia seeks to establish specialized courts to resolve business disputes 

Saudi Arabia seeks to establish specialized courts to resolve business disputes 

RIYADH: Saudi Arabia plans to establish specialized courts to address investment disputes, enhance market confidence, and support its Vision 2030 strategy of becoming a global business hub. 

The initiative, revealed through a survey conducted by the Ministry of Investment and shared with the Federation of Saudi Chambers, is aimed at evaluating the need for such judicial bodies across key sectors, Al Arabiya reported. 

These courts are expected to bolster trust in the Kingdom’s legal framework, aligning with its broader legislative and judicial reforms designed to accelerate progress under Vision 2030 and the National Investment Strategy. 

The specialized courts are part of the strategy’s fourth pillar, launched by Crown Prince Mohammed bin Salman in 2021, which seeks to mobilize SR12 trillion ($3.19 trillion) in economic activity through transformative projects, improved infrastructure, and job creation. 

In August, Saudi Arabia announced a major overhaul of its investment laws, reaffirming its commitment to creating a business-friendly environment for global enterprises. 

Revised laws integrate existing commercial rights into a unified framework, prioritizing transparency and simplifying regulatory processes. They offer enhanced protections, including property and intellectual property rights, streamlined registrations, and the establishment of dedicated service centers to expedite government interactions. 

These updates build on previous measures such as the Civil Transactions Law, Private Sector Participation Law, Companies Law, Bankruptcy Law, and the introduction of Special Economic Zones. 

At the time, Saudi Investment Minister Khalid Al-Falih stated that the law underscored Saudi Arabia’s dedication to fostering a secure and investor-friendly environment, bolstering economic growth, and solidifying the Kingdom’s status as a leading global investment hub.  

He noted that Vision 2030’s policy framework offered investors the confidence and stability needed to thrive, particularly as other markets faced significant volatility. 

The law also seeks to create a competitive market by encouraging fair competition and guaranteeing equal opportunities for both domestic and international investors. 

Earlier this year, Saudi Arabia launched its regional headquarters program, offering businesses incentives such as a 30-year exemption from corporate income tax and withholding tax on headquarters activities, along with access to discounts and support services. 

In October, Al-Falih confirmed the success of the initiative, announcing that the Kingdom had attracted 540 international companies to establish regional headquarters in Riyadh, surpassing its 2030 target of 500. 


LuLu showcases best of Singapore’s gastronomy

LuLu showcases best of Singapore’s gastronomy
Updated 26 min 58 sec ago
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LuLu showcases best of Singapore’s gastronomy

LuLu showcases best of Singapore’s gastronomy

The Saudi-Singapore Gastronomy 2024 event at LuLu Hypermarket is showcasing the best of Singapore’s gastronomic delights, bringing 10 premier Singaporean food brands to the hypermarket’s stores across Riyadh, Jeddah and Dammam.

Held in association with the Singapore Food Manufacturing Association, the event — running from Dec. 14-24 — supports the expansion of Singapore’s renowned culinary brands into the Kingdom.

This is the first-ever cross-border event to introduce Singapore’s finest culinary products to the Saudi market, transforming LuLu stores into culinary hubs, showcasing the country’s finest ingredients and flavors. 

The opening ceremony was attended by chief guest Premjith Sadasivan, ambassador of Singapore to Saudi Arabia, and Tonya Tan, founder and business development director of World Future Enterprises, alongside other dignitaries from various fields. 

Upon arrival, Sadasivan was welcomed by LuLu’s senior management with a purple carpet ceremony, bouquets, and a traditional orchid garland. A state-of-the-art robot announced the launch of new products, adding an innovative and tech-savvy dimension to the event. 

Sadasivan said the Saudi-Singapore Gastronomy 2024 event marks a significant milestone in enhancing economic and cultural relations between Singapore and Saudi Arabia. “This event presents exciting business opportunities for the growth of Singaporean products in the Middle Eastern market. By providing Saudi consumers with access to premium Singaporean food brands, LuLu Hypermarket and World Future Enterprises are paving the way for greater collaboration between the two nations,” he added. 

Saudi-Singapore Gastronomy 2024 features a wide range of Singaporean food products, from sauces, spices, and noodles to ready-to-eat meals, offering a blend of authenticity and premium quality. The Singaporean brands debuting in the Kingdom include: Boozt Isotonic Sports Drink, Jungle Kitchen Productions Pte. Ltd, Chilli Brand, Double Elephant Brand, Fred and Chloe, Ideal Food, Quay Wholefoods, MindoFoods, Oatbedient, RÓA Daily, and Flavors of Asia/ Simple Chef. 

Key highlights of the event include tasting tables and interactive live cooking stations manned by celebrity chefs preparing Singaporean dishes.

Shehim Mohammed, director of LuLu Saudi Hypermarkets, said Saudi-Singapore Gastronomy 2024 reflects LuLu’s commitment to offering the best of Singaporean flavors to the sophisticated Saudi palate “With our global network of sourcing offices and state-of-the-art warehousing and logistics support, LuLu Hypermarket is in a unique position to bring the finest food trends from Singapore to Saudi Arabia,” Mohammed said. He said the event presents an exciting opportunity to explore Singapore’s rich culinary offerings bursting with flavor and quality. 

World Future Enterprises’ Tan said the organization focuses on innovation, sustainability, and an immersive retail experience. With her wealth of experience in retail and international brand expansions, Tan aims to drive significant growth and consumer engagement for both Singaporean and Saudi markets. 


Oman launches food security projects to ensure supply, sustainability

Oman launches food security projects to ensure supply, sustainability
Updated 34 min 28 sec ago
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Oman launches food security projects to ensure supply, sustainability

Oman launches food security projects to ensure supply, sustainability
  • Food security is a top priority for Oman, particularly in light of the increasing risks that climate change poses to global supplies
  • Production will be distributed locally, regionally, and globally to meet increasing demand

JEDDAH: Oman has launched new food security initiatives, partnering with government entities and the private sector to strengthen supply chain operations and enhance sustainability.

The scheme, announced by the sultanate’s Ministry of Agriculture, Fisheries, and Water Resources, reflects the Gulf state’s commitment to long-term food security and economic diversification as part of its broader development goals.

Food security is a top priority for Oman, particularly in light of the increasing risks that climate change poses to global supplies. 

The government has launched several initiatives, including the Food Security Strategy 2010-2020, which focuses on three key areas such as managing demand, boosting local production, and ensuring reliable imports, with specific goals to promote sustainable agriculture, rural development, and fisheries.

The country also launched the National Nutrition Strategy 2020-2030, introduced by the Ministry of Health in 2021, aligning with Oman’s Vision 2040. The initiative aims to improve nutrition, eliminate malnutrition, and enhance food security, which aligns with the World Health Organization’s Regional Nutrition Strategy.

Oman also unveiled the Sustainable Agriculture and Rural Development Strategy 2040, which aims to enhance the productivity and sustainability of agriculture, forestry, and fisheries. To further these goals, the sultanate also launched the Million Date Palm Plantation Project.

Salem bin Abdullah Al-Ghufaili, the agriculture ministry’s director general of food security, said that these projects include a sugar refining project — the first of its kind in the country, adding that it will be located on an area of 18,000 sq. meters at Sohar Port, with an annual production capacity of approximately 1 million tons, as reported by Oman News Agency.

Al-Ghufaili said that the plant will be equipped with state-of-the-art, European-made production lines, utilizing the latest technological advancements to produce refined sugar of the highest quality from raw sugar. 

He also said the production will be distributed locally, regionally, and globally to meet increasing demand, adding that the project’s rapid progress, with 91 percent completion, is bringing it closer to the final stages.

In a statement to ONA, the director general added that Salalah Mills Co. is currently implementing a food industries center project in the Khazaen Economic City, with an estimated cost of 18.5 million Omani rials ($48.08 million) and a production capacity of around 1.4 million units per day in its first phase.

He added that the initiative includes an industrial bakery, production lines for frozen and semi-cooked pastries, equipment and silos for storing raw materials, and refrigerated and dry storage facilities for products.

Al-Ghufaili said that the undertakings include constructing wheat silos at Sohar Port, increasing storage capacity to 160,000 tons to ensure sufficient supplies for the population.

He also highlighted a new partnership between Khazaen Economic City and Zircon Food Industries Co. to build an integrated industrial complex for filtering, sorting, and packaging rice, sugar, and spices, along with large-scale food storage units.

He stressed the ministry’s efforts to secure essential foodstuffs and storage to ensure availability during emergencies while maintaining price stability and shielding the market from fluctuations caused by global economic crises. 

The ministry also strategically stockpiles key items such as rice, wheat, and sugar, as well as lentils, powdered milk, cooking oil, and tea.


UAE’s AD Ports Group doubles credit facility to $2.13bn

UAE’s AD Ports Group doubles credit facility to $2.13bn
Updated 35 min 56 sec ago
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UAE’s AD Ports Group doubles credit facility to $2.13bn

UAE’s AD Ports Group doubles credit facility to $2.13bn

RIYADH: The UAE’s Abu Dhabi Ports Group has successfully refinanced and more than doubled its revolving credit facility from $1 billion to $2.13 billion. The move extends the facility’s maturity from 2026 to 2028, with an option for further extension until 2030.

This expansion is aimed at optimizing financing costs by improving interest margins and securing long-term liquidity. The facility, which is denominated in both Emirati dirhams and US dollars, has garnered significant interest from a diverse group of local, regional, European, Asian, and international banks. As a result, the facility was oversubscribed by more than 2.5 times.

The bank syndicate backing AD Ports Group has expanded from nine to 18 financial institutions, reflecting growing confidence in the company’s financial health and strategic direction.

“The overwhelming interest in our new RCF and the resulting oversubscription underscore the confidence that the banking community has in AD Ports Group’s robust financial health and strategic direction,” said Martin Aarup, chief financial officer of AD Ports Group.

“This refinancing initiative will optimize our financing costs, strengthen liquidity, and provide enhanced flexibility to support the company’s growth plans in the short and medium term. Additionally, the extended maturity of the facility will enable better financial planning.”

AD Ports Group holds strong investment-grade ratings of “AA-” with a stable outlook from Fitch, and A1 with a stable outlook from Moody’s.

In mid-December, AD Ports Group appointed Egypt’s Hassan Allam Construction, a subsidiary of Hassan Allam Holding, to develop the infrastructure for the Noatum Ports-Safaga Terminal in Egypt.

This terminal, located on the Red Sea coast, will be the first internationally operated port facility in Upper Egypt. Spanning approximately 810,000 sq. meters, the terminal will handle an annual capacity of 450,000 twenty-foot equivalent units of container cargo, 5 million tonnes of dry bulk and general cargo, and 1 million tonnes of liquid bulk.

The Safaga Terminal is a key part of AD Ports Group’s broader strategy to invest in major infrastructure projects that drive economic growth and strengthen its international market position.

In the same month, AD Ports Group also inaugurated the CMA Terminals Khalifa Port, a new $843 million (3.1 billion dirham) container terminal. The launch ceremony was led by Sheikh Khaled bin Mohamed bin Zayed Al-Nahyan, crown prince of Abu Dhabi and chairman of the Abu Dhabi Executive Council.

The terminal is operated by a joint venture between CMA CGM Group’s subsidiary CMA Terminals, which holds a 70 percent stake, and AD Ports Group, with a 30 percent share.

During the ceremony, a memorandum of understanding was also signed to enhance maritime training in the UAE and the Gulf Cooperation Council. The CMA CGM Group will support cadet placements and training through the Abu Dhabi Maritime Academy.


Four killed in helicopter crash at Turkish hospital

Four killed in helicopter crash at Turkish hospital
Updated 41 min 59 sec ago
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Four killed in helicopter crash at Turkish hospital

Four killed in helicopter crash at Turkish hospital
  • Footage from the site showed debris from the crash scattered around the area outside the hospital building

ANKARA: Four people were killed in southwest Turkiye on Sunday when an ambulance helicopter collided with a hospital building and crashed into the ground.
The helicopter was taking off from the Mugla Training and Research Hospital, carrying two pilots, a doctor and another medical worker, the health ministry said in a statement.
Mugla’s regional governor, Idris Akbiyik, told reporters the helicopter first hit the fourth floor of the hospital building before crashing into the ground. No one inside the building or on the ground was hurt. The cause of the accident, which took place during heavy fog, was being investigated.
Footage from the site showed debris from the crash scattered around the area outside the hospital building, with several ambulances and emergency teams at the scene.