DUBAI : Middle Eastern online retailer Souq.com will make an announcement later on Tuesday about Amazon.com Inc’s bid to buy 100 percent of the company from its shareholders, two sources familiar with the matter told Reuters.
One of the sources, declining to be identified ahead of the announcement, said the statement would say that Souq.com’s shareholders had accepted the bid.
Souq.com declined to comment. Amazon officials could not immediately be reached for comment.
Dubai’s Emaar Malls, operator of some of the region’s most glitzy shopping malls, said on Monday it had made an $800 million offer for Souq.com. Sources said that bid was higher than Amazon’s offer.
Reuters reported last week that Amazon had agreed in principle to buy Souq.com, which was founded 12 years ago by Syrian-born entrepreneur Ronaldo Mouchawar.
Souq.com has raised $425 million since its founding in 2005, according to CrunchBase. It was reported to be valued at $1 billion at the time of its latest funding round last year, but sources said at the time the deal was worth less than that.
Amazon bid $580 million for Souq.com, a source familiar with the matter told Reuters on Monday. The Financial Times reported Amazon would pay between $650 and $750 million, quoting two sources familiar with the matter.
Emaar Malls’ bid had so far not been accepted by Souq.com shareholders, the Dubai-listed firm said on Monday.
Souq.com would have to break an exclusivity agreement with Amazon if it is to accept the Emaar Malls offer at this stage, a source said.
Dubai’s Souq.com to make announcement on Amazon.com bid — sources
Dubai’s Souq.com to make announcement on Amazon.com bid — sources
Pakistan locks down capital ahead of a planned rally by Imran Khan supporters
- Interior Ministry is considering a suspension of mobile phone services in parts of Pakistan in the coming days
- Pakistan has banned gatherings of five or more people in Islamabad for two months to deter Khan’s supporters
ISLAMABAD: Pakistan is sealing off its capital, Islamabad, ahead of a planned rally by supporters of imprisoned former premier Imran Khan.
It’s the second time in as many months that authorities have imposed such measures to thwart tens of thousands of people from gathering in the city to demand Khan’s release.
The latest lockdown coincides with the visit of Belarusian President Alexander Lukashenko, who arrives in Islamabad on Monday.
Local media reported that the Interior Ministry is considering a suspension of mobile phone services in parts of Pakistan in the coming days. On Friday, the National Highways and Motorway Police announced that key routes would close for maintenance.
It advised people to avoid unnecessary travel and said the decision was taken following intelligence reports that “angry protesters” are planning to create a law and order situation and damage public and private property on Sunday, the day of the planned rally.
“There are reports that protesters are coming with sticks and slingshots,” the statement added.
Multicolored shipping containers, a familiar sight to people living and working in Islamabad, reappeared on key roads Saturday to throttle traffic.
Pakistan has already banned gatherings of five or more people in Islamabad for two months to deter Khan’s supporters and activists from his Pakistan Tehreek-e-Insaf party, or PTI.
Khan has been in prison for more than a year in connection and has over 150 criminal cases against him. But he remains popular and the PTI says the cases are politically motivated.
A three-day shutdown was imposed in Islamabad for a security summit last month.
Turkiye replaces pro-Kurdish mayors with state officials in two eastern cities
ANKARA: Turkiye stripped two elected pro-Kurdish mayors of their posts in eastern cities on Friday, for convictions on terrorism-related offenses, the interior ministry said, temporarily appointing state officials in their places instead.
The local governor replaced mayor Cevdet Konak in Tunceli, while a local administrator was appointed in the place of Ovacik mayor Mustafa Sarigul, the ministry said in a statement, adding these were “temporary measures.”
Konak is a member of the pro-Kurdish DEM Party, which has 57 seats in the national parliament, and Sarigul is a member of the main opposition Republican People’s Party (CHP). Dozens of pro-Kurdish mayors from its predecessor parties have been removed from their posts on similar charges in the past.
CHP leader Ozgur Ozel said authorities had deemed that Sarigul’s attendance at a funeral was a crime and called the move to appoint a trustee “a theft of the national will,” adding his party would stand against the “injustice.”
“Removing a mayor who has been elected by the votes of the people for two terms over a funeral he attended 12 years ago has no more jurisdiction than the last struggles of a government on its way out,” Ozel said on X.
Earlier this month, Turkiye replaced three pro-Kurdish mayors in southeastern cities over similar terrorism-related reasons, drawing backlash from the DEM Party and others.
Last month, a mayor from the CHP was arrested after prosecutors accused him of belonging to the Kurdistan Workers Party (PKK), banned as a terrorist group in Turkiye and deemed a terrorist group by the European Union and United States.
The appointment of government trustees followed a surprise proposal by President Tayyip Erdogan’s main ally last month to end the state’s 40-year conflict with the PKK.
Indian man awakes on funeral pyre
- Doctors sent Rohitash Kumar, 25, to mortuary instead of conducting postmortem after he fell ill
- Kumar was rushed to hospital on Friday for treatment but was confirmed dead later
JAIPUR: An Indian man awoke on a funeral pyre moments before it was to be set on fire after a doctor skipped a postmortem, medical officials said Saturday.
Rohitash Kumar, 25, who had speaking and hearing difficulties, had fallen sick and was taken to a hospital in Jhunjhunu in the western state of Rajasthan on Thursday.
Indian media reported he had had an epileptic seizure, and a doctor declared him dead on arrival at the hospital.
But instead of the required postmortem to ascertain the cause of death, doctors sent him to the mortuary, and then to be burned according to Hindu rites.
D. Singh, chief medical officer of the hospital, told AFP that a doctor had “prepared the postmortem report without actually doing the postmortem, and the body was then sent for cremation.”
Singh said that “shortly before the pyre was to be lit, Rohitash’s body started movements,” adding that “he was alive and was breathing.”
Kumar was rushed to hospital for a second time, but was confirmed dead on Friday during treatment.
Authorities have suspended the services of three doctors and the police have launched an investigation.
Cop among two killed in separate IED blasts in northwestern Pakistan
- No group has so far claimed responsibility for blasts which took place in Bajaur tribal district
- Seventy-five police personnel have been killed, 113 injured in militant attacks in KP this year
PESHAWAR: A police constable and a civilian were killed in separate Improvised Explosive Device (IED) blasts in northwestern Pakistan on Saturday, police said, as Islamabad struggles to contain surging militancy in its Khyber Pakhtunkhwa (KP) province.
The IED blasts took place in the northwestern Bajaur tribal district on Saturday morning, killing one cop and a civilian.
As per official data, 75 police personnel have been killed and 113 injured in militant attacks and targeted assassinations in KP province this year.
“Both blasts were reported in the premises of Loi Mamund police station earlier today,” Bajaur Police spokesperson Muhammad Israr told Arab News.
No group has claimed responsibility for the blasts so far.
“An IED was placed in front of the policeman’s house which detonated when he was leaving home for duty at around 9:30 am in Mena village of Loi Mamund,” Israr added.
He said the other blast took place around 8:00 am in Irab village, also located within the vicinity of Loi Mamund police station, in which one person was killed.
Israr said police have started investigating both incidents.
Pakistan blames the surge in militancy in KP province, which borders Afghanistan, on the Pakistani Taliban militants that it alleges have found safe havens in Afghanistan.
Kabul denies the allegations and urges Pakistan to resolve its security challenges on its own. Relations between the two countries have deteriorated since November 2022 when a fragile truce between the Pakistani state and the Pakistani Taliban broke down.
NATO chief discusses ‘global security’ with Trump
- NATO allies say keeping Kyiv in the fight against Moscow is key to both European and American security
Brussels: NATO chief Mark Rutte held talks with US President-elect Donald Trump in Florida on the “global security issues facing the alliance,” a spokeswoman said Saturday.
The meeting took place on Friday in Palm Beach, NATO’s Farah Dakhlallah said in a statement.
In his first term Trump aggressively pushed Europe to step up defense spending and questioned the fairness of the NATO transatlantic alliance.
The former Dutch prime minister had said he wanted to meet Trump two days after Trump was elected on November 5, and discuss the threat of increasingly warming ties between North Korea and Russia.
Trump’s thumping victory to return to the US presidency has set nerves jangling in Europe that he could pull the plug on vital Washington military aid for Ukraine.
NATO allies say keeping Kyiv in the fight against Moscow is key to both European and American security.
“What we see more and more is that North Korea, Iran, China and of course Russia are working together, working together against Ukraine,” Rutte said recently at a European leaders’ meeting in Budapest.
“At the same time, Russia has to pay for this, and one of the things they are doing is delivering technology to North Korea,” which he warned was threatening to the “mainland of the US (and) continental Europe.”
“I look forward to sitting down with Donald Trump to discuss how we can face these threats collectively,” Rutte said.
