TEHRAN: Iran’s official IRNA news agency is reporting that the country’s foreign ministry has summoned the Pakistani envoy to protest an attack on Iranian guards near the border with Pakistan that left nine dead.
The Friday report said the Iranian side demanded “essential and serious” action by Pakistan to punish the “terrorists” and applying measures to prevent such incidents in the future.
Iran says the attackers opened fire Wednesday from the Pakistan side on the guards and killed nine. An earlier report put the death toll at 10. Three others were injured.
The area in southeast Iran is the scene of occasional clashes between Iranian forces and the Sunni militant group Jaish-ul-Adl, as well as armed drug traffickers. It lies on a major drug smuggling transit route.
Iran summons Pakistani envoy over attack on borders guards
Iran summons Pakistani envoy over attack on borders guards
Blinken calls for push to get Gaza truce deal over ‘finish line’
- “We very much want to bring this over the finish line in the next two weeks, the time we have remaining,” Blinken told a news conference in South Korea
- Israel has sent a team of mid-ranking officials to Qatar for talks brokered by Qatari and Egyptian mediators
JERUSALEM/CAIRO: US Secretary of State Antony Blinken called on Monday for a final push for a Gaza ceasefire before President Joe Biden leaves office, after a Hamas official told Reuters the group had cleared a list of 34 hostages as first to go free under a truce.
“We very much want to bring this over the finish line in the next two weeks, the time we have remaining,” Blinken told a news conference in South Korea, when asked whether a ceasefire deal was close.
Israel has sent a team of mid-ranking officials to Qatar for talks brokered by Qatari and Egyptian mediators. Some Arabic media reports said David Barnea, the head of Mossad, who has been leading negotiations, was expected to join them. The Israeli prime minister’s office did not comment.
It remains unclear how close the two sides remain, with some signs of movement but little indication of a shift in some of the key demands that have so far blocked any truce for more than a year.
US President-elect Donald Trump has said there would be “hell to pay” in the Middle East if hostages held by Hamas were not freed before his inauguration on Jan. 20, now viewed in the region as an unofficial deadline for a truce deal.
According to Gaza health officials, nearly 46,000 Palestinians have been killed in Israel’s assault on Gaza. The assault was launched after Hamas fighters stormed Israeli territory in October 2023, killing 1,200 people and capturing more than 250 hostages, by Israeli tallies.
More than 100 hostages are still believed to be held in Gaza, and Hamas says it will not free them without an agreement that ends the war with Israeli withdrawal. Israel says it will not halt its assault until Hamas is dismantled as a military and governing power and all hostages go free.
A Hamas official told Reuters the group had cleared a list submitted by Israel of 34 hostages who could be freed in the initial phase of a truce. The list provided by the official included female soldiers, plus elderly, female and minor-aged civilians.
Israeli Prime Minister Benjamin Netanyahu’s office said the list had been given by Israel to Qatari mediators as far back as July, and Israel had so far received no confirmation or comment from Hamas about whether the hostages on it were alive.
“Israel will continue to act relentlessly for the return of all our hostages,” it said in a statement.
Baby dies of cold
Israeli forces, which have intensified their operations in recent weeks, continued bombardments across the enclave, killing at least 48 people and wounding 75 over the past 24 hours, according to the Gaza health ministry.
Harsh winter weather continued to exact a toll on the hundreds of thousands displaced into makeshift shelters, with officials saying a 35-day-old baby had died of exposure, at least the eighth victim of the cold in the past two weeks.
Officials from Al-Awda Hospital in Nuseirat in the central Gaza Strip said an Israeli airstrike at a school compound sheltering displaced families had wounded at least 40 people.
While Israel’s military says Hamas has largely been destroyed as an organized military force, its fighters continue to hold out in the rubble of Gaza, which has been largely reduced to wasteland by the months of bombardment.
On Monday, three rockets were fired from Gaza, one of which hit a building in the nearby Israeli city of Sderot without casing casualties, Israeli police said.
In the Israeli-occupied West Bank, a separate Palestinian territory where violence has also surged since the start of the Gaza war, gunmen killed three Israelis and wounded several others when they opened fire on a car and bus near the Israeli settlement of Kedumim.
Sri Lankan Embassy holds cricket tournament to mark ties with Saudi Arabia
- Competition marks 50 years of diplomatic ties
- Plans to bring big names from Sri Lankan cricket to promote annual event
RIYADH: The Sri Lankan Embassy in Riyadh recently held a cricket tournament to mark 50 years of diplomatic relations between the Asia nation and Saudi Arabia.
The embassy organized the event in collaboration with the Sri Lankan Cultural Forum in Riyadh. Last year marked the half century of ties between the two nations.
The tournament was an 11-a-side competition with a maximum of five overs per innings, held from Dec. 3 to 27. The final resulted in the Riyadh Lankans beating the Gulf Lions.
A total of 25 teams drawn from the Sri Lankan community in Riyadh participated.
Sri Lanka’s Ambassador Omar Lebbe Ameer Ajwad told Arab News on Monday that the plan is to make it an annual event.
“We are planning to bring some big names from Sri Lankan cricket in the final of the tournament in the future, in order to promote cricket among the Sri Lankan community in Saudi Arabia as well as promote cricket ties with the Kingdom.”
He added that since Saudi Arabia also has a cricket federation, the plan is to “explore opportunities” for cooperation in the game.
Ajwad said the Riyadh Lankans, who clinched the trophy, had showcased exceptional talent and teamwork.
The envoy expressed delight that Saudi Arabia was becoming a global sports hub and would be hosting the 2034 FIFA World Cup, 2029 Asian Winter Games and 2034 Asian Games.
Pakistan PM orders immediate steps to confiscate properties, assets of human traffickers
- The issue of human trafficking gained attention in Pakistan after last month’s boat capsize in Greece that killed five Pakistanis
- PM Shehbaz Sharif orders authorities to enhance prosecution for those involved in human trafficking, ensure strict punitive measures
ISLAMABAD: Prime Minister Shehbaz Sharif on Monday directed authorities to take immediate steps to seize properties and assets of human traffickers, his office said, following the death of five Pakistani nationals in a migrant boat capsize off the southern Greek island of Gavdos last month.
The issue of illegal immigration to Europe and its consequences gained significant attention in Pakistan after last month’s incident, with the prime minister ordering “intensified efforts” against human traffickers in the country.
The boat tragedy, which occurred on Dec. 14, underscored the perilous journeys many migrants undertake due to conflicts around the world. In the case of Pakistani nationals, the movement is mostly driven by economic reasons, with many young individuals attempting to reach European shores in search of better financial prospects.
On Monday, Sharif presided over a meeting to discuss the progress of actions taken against human trafficking, legal proceedings against facilitators and legislative advancements to combat human smuggling.
“Severe legal action be taken against all human trafficking groups in the country so that they become an example for others,” Sharif was quoted as saying by his office.
“Immediate legal action be taken to confiscate properties and assets of human traffickers.”
The development follows the arrest of multiple suspects involved in last month’s boat tragedy in Greece as well as another major incident in 2023, in which hundreds of migrants, including 262 Pakistanis, had drowned when an overcrowded vessel traveling from Libya capsized and sank in international waters off the southwestern Greek coastal town of Pylos.
The prime minister ordered authorities to enhance prosecution for those involved in human trafficking and ensure strict punitive measures against its facilitators. He directed the Foreign Office take measures for swift extradition of Pakistanis involved in human trafficking abroad.
“The screening process at airports for individuals traveling abroad should be made more effective,” he said, asking the information and interior ministries to launch public awareness campaigns to encourage citizens to pursue only legal channels for overseas employment.
The prime minister also stressed the promotion of technical training institutes to provide certified and skilled workforce to international markets.
Saudi Arabia’s PIF completes $7bn inaugural murabaha credit facility
- Shariah-compliant financing is backed by a syndicate of 20 international and regional financial institutions
- Facility builds on PIF’s recent success with sukuk issuances over the past two years
RIYADH: Saudi Arabia’s Public Investment Fund has completed its inaugural murabaha credit facility worth $7 billion, as part of its medium-term capital-raising strategy.
The Shariah-compliant financing is backed by a syndicate of 20 international and regional financial institutions, according to a press release.
A murabaha credit facility is a financing structure compliant with Islamic principles, where the lender purchases an asset and sells it to the borrower at an agreed profit margin, allowing repayment in installments. This structure avoids interest, adhering to Shariah laws.
“This inaugural murabaha credit facility demonstrates the flexibility and depth of PIF’s financing strategy and use of diversified funding sources, as we continue to drive transformative investments, globally and in Saudi Arabia,” said Fahad Al-Saif, PIF’s head of the Global Capital Finance Division and head of Investment Strategy and Economic Insights Division.
The facility builds on PIF’s recent success with sukuk issuances over the past two years, further bolstering its financial strength and commitment to best practices in debt management.
Rated Aa3 by Moody’s and A+ by Fitch, both with stable outlooks, PIF continues to solidify its position as a global financial powerhouse.
The fund’s capital structure is supported by four main funding sources, including contributions from the Saudi government, asset transfers, retained investment earnings, and financing through loans and debt instruments.
PIF’s strategy focuses on financing initiatives that contribute to economic growth in Saudi Arabia and internationally.
The $7 billion murabaha credit facility is expected to bolster PIF’s liquidity, supporting its investments both locally and globally.
By diversifying its funding sources through a Shariah-compliant structure, PIF looks to enhance its financial partnerships while complementing its existing financing tools, such as sukuk issuances.
This aligns with its medium-term capital strategy, ensuring flexibility, competitive financing terms, and risk mitigation.
Earlier in January, the National Debt Management Center also secured a Shariah-compliant revolving credit facility worth SR9.4 billion ($2.5 billion).
The three-year facility, supported by three regional and international financial institutions, is designed to meet the Kingdom’s general budgetary requirements.
Aligned with Saudi Arabia’s medium-term public debt strategy, the arrangement focuses on diversifying funding sources to meet financing needs at competitive terms.
It also adheres to robust risk management frameworks and the Kingdom’s approved annual borrowing plan.
PIF has been actively engaging in credit arrangements to support its investment initiatives and the Kingdom’s Vision 2030 economic diversification plan.
In August 2024, PIF secured a $15 billion revolving credit facility for general corporate purposes, replacing a similar facility agreed upon in 2021.
In addition to the revolving credit facility, PIF has diversified its financing instruments by issuing a $2 billion seven-year Islamic sukuk earlier in 2024 and planning to issue bonds in pounds sterling.
These efforts are part of PIF’s strategy to leverage a variety of funding sources to support its expansive investment activities.
Closing Bell: Saudi main market gains to close at 12,105 points
RIYADH: Saudi Arabia’s Tadawul All Share Index edged up on Monday, gaining 34.87 points, or 0.29 percent, to close at 12,104.69.
The total trading turnover of the benchmark index was SR6.43 billion ($1.71 billion), as 137 of the listed stocks advanced, while 94 retreated.
The MSCI Tadawul Index also increased by 1.07 points, or 0.07 percent, to close at 1,510.91.
The Kingdom’s parallel market Nomu dropped, losing 190.29 points, or 0.61 percent, to close at 30,864.09. This comes as 36 of the listed stocks advanced, while 43 retreated.
Al Majed Oud Co. was the best-performing stock of the day, with its share price surging by 5.62 percent to SR158.
Other top performers included SAL Saudi Logistics Services Co., which saw its share price rise by 5.42 percent to SR276, and Riyadh Cables Group Co., which saw a 5.17 percent increase to SR158.80.
Al Mawarid Manpower Co. and Astra Industrial Group also saw a positive change, with their share prices surging by 5.17 percent and 5.05 percent to SR114 and SR195.40, respectively.
United International Holding Co. saw the steepest decline of the day, with its share price easing 2.45 percent to close at SR183.40.
Zamil Industrial Investment Co. and Nayifat Finance Co. both recorded falls, with their shares slipping 2.43 percent and 2.43 percent to SR36.15 and SR14.44, respectively.
National Co. for Learning and Education and Saudi Electricity Co. also faced losses in today’s session, with their share prices dipping 2.27 percent and 2.25 percent to SR197.80 and SR16.54, respectively.
On the announcement front, the Saudi Exchange announced the listing and trading of shares for Almoosa Health Co. on the main market starting Jan. 7.
During the first three days of trading, daily price fluctuation limits will be set at plus or minus 30 percent, while static price fluctuation limits will also apply.
From the fourth trading day onward, the daily fluctuation limits will revert to plus or minus 10 percent, and the static limits will no longer be enforced.
In a separate development, Almujtama Alraida Medical Co. announced the signing of a credit facility agreement with Alinma Bank worth SR45 million.
Alinma Bank saw a 0.17 percent decrease in its share price on Monday to settle at SR29.90.
The financing package includes an SR35 million revolving facility aimed at purchasing goods and an SR10 million revolving facility for capital expenditures.
The credit facilities have a duration of three years and are secured by a promissory note. The objective of the financing is to support working capital requirements and fund capital expenditures, the company stated.
Meanwhile, Mufeed Co. revealed the awarding of an SR41.5 million project focused on the development of concept, content, and execution of events aimed at reviving the Kingdom’s cultural and historical heritage.
The contract, which is set to be signed on Jan. 20, will involve a legal entity as the counterparty.
The project entails organizing unique activities designed to showcase and enhance the Kingdom’s rich historical and cultural narratives.
Mufeed Co. saw a 2.93 percent increase in its share price by the close of Monday’s trading session to reach SR73.80.
