Gaza ceasefire talks to resume for 2nd day in Qatar

Gaza ceasefire talks to resume for 2nd day in Qatar
Palestinians displaced by the Israeli air and ground offensive on the Gaza Strip flee from Hamad City, following an evacuation order by the Israeli army to leave parts of the southern area of Khan Younis. (AP)
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Updated 16 August 2024
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Gaza ceasefire talks to resume for 2nd day in Qatar

Gaza ceasefire talks to resume for 2nd day in Qatar
  • The on-and-off truce talks reconvened in Qatar’s capital on Thursday without Hamas
  • United States and its allies see the proposed Gaza truce as key to de-escalating soaring regional tensions, particularly with Iran

DOHA: Negotiators seeking a Gaza ceasefire were set to meet for a second day in Qatar on Friday, while top European diplomats were expected in Israel to stress the urgency of averting a wider war.
The on-and-off truce talks reconvened in Qatar’s capital on Thursday without Hamas, which has accused Israel of obstructing a deal and insists on the implementation of previously agreed terms.
Months of talks have yet to secure the return of hostages held by militants in Gaza or staunch the spiralling death toll, which authorities in Hamas-ruled Gaza on Thursday said had topped 40,000 in the Palestinian territory after more than 10 months of war.
US National Security Council spokesman John Kirby said the talks had “a promising start” but acknowledged “there remains a lot of work to do.”
Israel’s main military supplier the United States has been mediating the talks with Qatar and Egypt.
The United States and its allies see the proposed Gaza truce as key to de-escalating soaring regional tensions, particularly with Iran.
“This is a dangerous moment for the Middle East. The risk of the situation spiralling out of control is rising,” British Foreign Secretary David Lamy said ahead of his visit with French Foreign Minister Stephane Sejourne.
During meetings with Israel’s Foreign Minister Israel Katz and Minister of Strategic Affairs Ron Dermer, they would “stress there is no time for delays or excuses from all parties on a ceasefire deal” in Gaza, according to Britain’s foreign ministry.
Sejourne said “any miscalculation in the current situation could provoke a generalized conflagration.”
While talks take place in the Gulf emirate, bombs have continued to fall in Gaza.
As they struggled to recover bodies from the ruins of yet another air strike on Thursday, Palestinians in north Gaza questioned why, when Israeli Prime Minister Benjamin Netanyahu’s team was in Qatar.
“Why did Netanyahu send a delegation to the talks while we are being killed here?” in Jabalia, Mohammed Al-Balwi said as rescuers around him pulled bodies from the concrete wreckage.
They had found “limbs on the ground,” he said.
Fears of a wider Middle East war have soared since the July 31 killing of Hamas political leader and truce negotiator Ismail Haniyeh in Tehran. Iran and its allied groups in the region blamed Israel and vowed revenge.
Haniyeh’s death came hours after an Israeli strike killed Fuad Shukr, the military commander of Lebanon’s Iran-backed Hezbollah movement, which has exchanged near-daily cross border fire with Israeli forces.
The Gaza war has also drawn in Tehran-aligned groups in Iraq, Syria and Yemen.
The US military said its forces had destroyed a “ground control station” operated by Yemen’s Iran-backed Houthi rebels. The Houthis have for months fired missiles and drones at shipping in waterways vital to world trade off Yemen.
The Houthis, like Hezbollah, say they are acting in support of the Palestinians.
Violence has also surged in the Israeli-occupied West Bank.
Israeli President Isaac Herzog on Thursday condemned a Jewish settler attack on a West Bank village that the Palestinian Authority said killed one Palestinian and wounded another.
The Israeli military said dozens of Israeli civilians, some masked, entered Jit on Thursday evening and “set fire to vehicles and structures in the area, hurled rocks and Molotov cocktails.”
It added that it had opened an investigation and was looking into reports of a fatality.
Since the war in Gaza began, hundreds of Palestinians have been killed in the West Bank by the Israeli army or settlers, according to an AFP count based on official Palestinian data.
During the same period in the West Bank, at least 18 Israelis, including soldiers, have been killed in Palestinian attacks, according to official Israeli data.
The Qatari foreign ministry said Gaza truce negotiations would continue on Friday.
Mediators remain committed “in their endeavours to reach a ceasefire in the strip that would facilitate the release of hostages and enable the entry of the largest possible amount of humanitarian aid into Gaza,” a ministry spokesperson said.
They are seeking to finalize details of a three-phase proposal initially outlined by US President Joe Biden in May.
While Hamas is not directly taking part, an official of the Islamist movement, Osama Hamdan, told AFP the group would join if the meeting set a timetable for implementing the agreed terms.
He added that Hamas would not engage in negotiations that “give Netanyahu more time to kill our Palestinian people.”
Netanyahu has called Hamas leader Yahya Sinwar “the only obstacle to a hostage deal.”
Hamas’s unprecedented October 7 attack on Israel that triggered the war resulted in the deaths of 1,198 people, mostly civilians, according to an AFP tally of Israeli official figures.
Militants also seized 251 hostages, 111 of whom are still held in Gaza, including 39 the military says are dead.
Some were freed during a one-week truce in November.
The war has displaced almost the entire population of Gaza and destroyed much of its housing and other infrastructure, leaving widespread shortages of food.
Gaza’s health ministry, which does not provide a breakdown of civilian and militant casualties, on Thursday said the war has killed at least 40,005 people.
The United Nations human rights chief, Volker Turk, called it a “grim milestone for the world.”


Bashar Assad poisoned in Moscow: Report

Bashar Assad poisoned in Moscow: Report
Updated 7 min 34 sec ago
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Bashar Assad poisoned in Moscow: Report

Bashar Assad poisoned in Moscow: Report
  • Ousted Syrian dictator requested medical help then began to ‘cough violently and choke’
  • ‘There is every reason to believe an assassination attempt was made’

LONDON: An assassination attempt by poisoning has been made on former Syrian dictator Bashar Assad, The Sun reported.

The ousted leader reportedly fell ill on Sunday in Moscow, where he has resided since fleeing Syria in early December.

Assad, 59, requested medical help then began to “cough violently and choke,” according to online account General SVR, which is believed to be run by a former top spy in Russia.

“There is every reason to believe an assassination attempt was made,” it added.

Assad was treated in his apartment, and his condition is said to have stabilized by Monday. He was confirmed to have been poisoned by medical testing, the account said, without citing direct sources.

There has been no confirmation of the event from the Russian government.


Saudi Arabia closes $2.5 billion Shariah-compliant credit facility for budget financing

Saudi Arabia closes $2.5 billion Shariah-compliant credit facility for budget financing
Updated 5 min 35 sec ago
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Saudi Arabia closes $2.5 billion Shariah-compliant credit facility for budget financing

Saudi Arabia closes $2.5 billion Shariah-compliant credit facility for budget financing

RIYADH: The National Debt Management Center has announced the successful arrangement of a Shariah-compliant revolving credit facility valued at SR9.4 billion ($2.5 billion).

This three-year facility is intended to support the Kingdom’s general budgetary requirements and was secured with the participation of three regional and international financial institutions.

This credit arrangement is in line with Saudi Arabia’s medium-term public debt strategy. It aims to diversify funding sources to meet financing needs at competitive terms, while adhering to robust risk management frameworks and the approved annual borrowing plan.

In November, Saudi Arabia approved its state budget for the fiscal year 2025, with projected revenues of SR1.18 trillion and expenditures totaling SR1.28 trillion, resulting in a deficit of SR101 billion.

The Finance Ministry forecasts a robust 4.6 percent growth in the Kingdom's real gross domestic product for 2025, a significant increase from the 0.8 percent growth expected in 2024. This growth is anticipated to be driven by a rise in activities within the non-oil sector, according to the ministry’s statement.

Saudi Arabia’s total debt is projected to reach SR1.3 trillion in 2025, or 29.9 percent of GDP, which is considered a sustainable level to meet the country’s financing needs.

Revised projections for the 2024 budget indicate a deficit of SR115 billion, with total debt expected to rise to SR1.2 trillion, or 29.3 percent of GDP.

The 2025 budget places a strong emphasis on maintaining essential services for citizens and residents while increasing investment in key projects and sectors. The government's focus remains on preserving fiscal stability, ensuring long-term sustainability, and managing reserves effectively. By maintaining manageable debt levels, Saudi Arabia aims to safeguard its resilience against unforeseen economic challenges.


Ministry of Culture launches crafts hackathon as part of Year of Handicrafts

Ministry of Culture launches crafts hackathon as part of Year of Handicrafts
Updated 53 min 14 sec ago
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Ministry of Culture launches crafts hackathon as part of Year of Handicrafts

Ministry of Culture launches crafts hackathon as part of Year of Handicrafts
  • Registration open until Jan. 31

RIYADH: The Saudi Ministry of Culture has launched a crafts hackathon to bring together creators and innovators from diverse fields.

The event aims to generate innovative solutions for various aspects of the handicrafts sector, including marketing, design and production, the Saudi Press Agency reported on Thursday.
It aligns with the broader objectives of the Year of Handicrafts 2025.
The Ministry of Culture annually celebrates a distinctive Saudi cultural element, highlighting and celebrating it through projects and events.
The year 2025 has been designated as the Year of Handicrafts to solidify the position of handicrafts as authentic cultural heritage while promoting the practice, preservation and documentation of the craft, as well as its presence in contemporary life.
Registration for the hackathon is open until Jan. 31.
The selection of qualified participants will begin in early February, followed by a two-day training camp on Feb. 14-15.
It targets a diverse range of participants, including artisans, designers, developers and programmers. Teams must consist of at least three and no more than five members.
All participants must be at least 18 years old.
Handicrafts have long held a special place in Saudi Arabia’s cultural fabric, representing a prosperous heritage passed down through generations.
Throughout 2025, the ministry will organize an array of events, exhibitions, educational programs and competitions under the banner Year of Handicrafts.


Closing Bell: Saudi Arabia’s TASI closes in green at 12,103

Closing Bell: Saudi Arabia’s TASI closes in green at 12,103
Updated 56 min 48 sec ago
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Closing Bell: Saudi Arabia’s TASI closes in green at 12,103

Closing Bell: Saudi Arabia’s TASI closes in green at 12,103
  • MSCI Tadawul Index also increased by 2.55 points, or 0.17%, to close at 1,517.16
  • Parallel market Nomu gained 11.83 points, or 0.04%, to close at 31,005.69 points

RIYADH: Saudi Arabia’s Tadawul All Share Index concluded Thursday’s trading session at 12,102.55 points, marking an increase of 25.24 points, or 0.21 percent. 

The total trading turnover of the benchmark index was SR5.55 billion ($1.47 billion), as 99 of the listed stocks advanced, while 131 retreated. 

The MSCI Tadawul Index also increased by 2.55 points, or 0.17 percent, to close at 1,517.16. 

The Kingdom’s parallel market Nomu reported increases, gaining 11.83 points, or 0.04 percent, to close at 31,005.69 points. This comes as 39 of the listed stocks advanced while as many as 43 retreated. 

The index’s top performer, Tihama Advertising and Public Relations Co., saw a 9.91 percent increase in its share price to close at SR16.86.  

Other top performers included Zamil Industrial Investment Co., which saw an 8.01 percent increase to reach SR35.05, while Al Yamamah Steel Industries Co.’s share price rose by 5.42 percent to SR36. 

AYYAN Investment Co. also recorded a positive trajectory, with share prices rising 4.99 percent to reach SR16. Fawaz Abdulaziz Alhokair Co. witnessed positive gains, with 4.49 percent reaching SR14.44. 

Arabian Cement Co. was TASI’s weakest performer, with its share price falling 5.81 percent to SR14.88. 

Riyadh Cement Co. followed with a 5.45 percent drop to SR30.35. Yamama Cement Co. also saw a notable decline of 5.26 percent to settle at SR33.35.  

Umm Al-Qura Cement Co. dropped 3.55 percent to SR17.94, while Methanol Chemicals Co. declined 3.03 percent to SR17.94, ranking among the top five decliners. 

In the parallel market Nomu, View United Real Estate Development Co. was the top gainer, with its share price surging by 22.64 percent to SR9.10. 

Other top gainers in the parallel market included Mulkia Investment Co., up 8.25 percent to SR40, and Enma AlRawabi Co., rising 6.67 percent to SR23.68. 

Naas Petrol Factory Co. and Meyar Co. were the other top gainers on the parallel market. 

Al-Modawat Specialized Medical Co. saw the largest decline on Nomu, with its share price slipping 8.05 percent to SR16. 

Naseej for Technology Co. fell 7.14 percent to SR65, while Saudi Azm for Communication and Information Technology Co. dropped 6.18 percent to SR28.10, ranking among the notable decliners on Nomu. 

On the announcement front, Al-Jouf Agricultural Development Co. said it has entered into a SR200 million Shariah-compliant bank facilities agreement with Banque Saudi Fransi to finance the company’s expansion plans and operational activities. 

Its share price closed at SR64.50, reflecting a 1.2 percent gain. 

Saudi Basic Industries Corp., or SABIC, announced that its Saudi affiliates have received official notification of increased feedstock prices, which is expected to affect the company’s production costs. 

SABIC’s shares closed at SR67.30, marking a decline of 0.59 percent. 

Sahara International Petrochemical Co., also known as Sipchem, received a notice from Saudi Aramco amending certain feedstock prices, effective Jan. 1. The financial impact is expected to result in a 2 percent increase in the total cost of sales, starting in the first quarter of the 2025 fiscal year. 

Sipchem’s shares ended the day at SR24.66, down 2.43 percent. 

National Agricultural Development Co., or NADEC, received a notification regarding an adjustment in fuel prices for its operational activities. The financial impact is estimated to result in a 1.5 percent increase in operating costs, to be reflected starting in the first quarter of fiscal year 2025. 

This change is expected to moderately raise production costs. NADEC’s shares closed at SR24.52, marking a 1.55 percent increase. 


Sri Lanka launches nationwide program to become ‘cleanest country in Asia’

Sri Lanka launches nationwide program to become ‘cleanest country in Asia’
Updated 02 January 2025
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Sri Lanka launches nationwide program to become ‘cleanest country in Asia’

Sri Lanka launches nationwide program to become ‘cleanest country in Asia’
  • ‘Clean Sri Lanka’ initiative aims to help ‘lift the nation,’ along with digitalization, poverty eradication
  • New government wants to usher in ‘transformative change’ for the country in 2025, president says

COLOMBO: Sri Lanka's new government has launched a nationwide project aiming to make it the cleanest country in Asia and enforce the principles of environmental justice.

President Anura Kumara Dissanayake kicked off the “Clean Sri Lanka” initiative on New Year’s Day, saying it would be focused on restoring the island nation’s environmental system.

Dissanayake, during a launching ceremony at the presidential secretariat in Colombo on Wednesday, said: “This endeavor goes beyond merely cleaning up the environment.

“It aspires to restore the deeply eroded and deteriorated social and environmental fabric of our motherland. We aim to create cleanliness and rejuvenation across all sectors of society.”

He added: “Every citizen must take responsibility for fulfilling their respective duties to ensure the success of this collective vision.”

The program is one of the main priorities of his administration, alongside poverty eradication and digital transformation.

Dissanayake assumed the top job in September and further consolidated his grip on power after his National People’s Power alliance won a majority in the legislature in November.

He is leading Sri Lanka as the nation continues to reel from the 2022 economic crisis — its worst since independence in 1948.

“Our firm resolution is to usher in transformative change for our country this year,” he said. “This year marks the start of a new political culture in our country, as we lay the necessary foundations for its development.”

The “Clean Sri Lanka” program is a part of efforts that will be overseen by an 18-member task force.

When Dissanayake announced the initiative last month, he said it aimed “to make Sri Lanka the cleanest country in the Asian region.”

The “Clean Sri Lanka” official website says it aims to engage communities to keep public spaces safe and clean, streamline waste disposal across the country and ensure that its world-famous beaches are clean.

It also seeks to fight corruption, promote accessible infrastructure for people with disabilities, improve air and water quality, and reduce the nation’s carbon footprint.

“If we do not make ours a cleaner country, our roads to be safer, how can we expect to develop tourism? Unless we make our public spaces disabled-friendly, how can we get them involved in the economy,” it stated, adding that the initiative was crucial to help Sri Lanka rebuild its battered economy.

Sri Lanka’s poor waste management was under global spotlight in 2022 when several elephants — which are endangered in the country — were found dead after consuming plastic in an open landfill in the eastern village of Pallakkadu.

The nation of 22 million people generates more than 1.5 million tonnes of plastic waste annually but recycles only 3 percent, compared to the world average of 7.2 percent.