Australia foils ‘terror plot’ to bring down airplane

A policeman stands on a street that has been blocked to the public after Australian counterterrorism police arrested four people in raids late Saturday across several Sydney suburbs. (Reuters)
Updated 30 July 2017
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Australia foils ‘terror plot’ to bring down airplane

SYDNEY: Australia has foiled an Islamist-inspired “terrorist plot” to bring down an airplane with an improvised explosive, authorities said Sunday, after four people were arrested in raids across Sydney.
Prime Minister Malcolm Turnbull said the plot appeared to be “elaborate” rather than planned by a lone wolf, as security was beefed up at major domestic and international airports across the nation.
“I can report last night that there has been a major joint counter-terrorism operation to disrupt a terrorist plot to bring down an airplane,” Turnbull told reporters.
“The threat of terrorism is very real. The disruption operation, the efforts overnight have been very effective but there’s more work to do.”
Officials did not specify if the alleged plot involved a domestic or international flight, but Sydney’s Daily Telegraph reported that a local route had been the objective.
Australian Federal Police Commissioner Andrew Colvin described the plot as “Islamic-inspired,” saying four men had been arrested in a series of raids across Sydney on Saturday.
“We do believe it is Islamic-inspired terrorism. Exactly what is behind this is something we need to investigate fully,” he said.
Colvin added that local authorities had received “credible information from partner agencies” about the claims but would not elaborate further or state if the men were on any watch list.
“In recent days, law enforcement has become aware of information that suggested some people in Sydney were planning to commit a terrorist attack using an IED (improvised explosive device),” he told reporters.
He added that several items “of great interest to police” had been seized in the raids but police did not yet have a great deal of information on the specific attack, the location, date or time. He said the investigation was expected to be “very long and protracted.”
“However, we’re investigating information indicating the aviation industry was potentially a target of that attack.”
Colvin would not provide further details, but the Australian Broadcasting Corporation said police found items that could be used to make a homemade bomb in one of the raided homes Saturday.
Authorities believed they planned to smuggle the device onto a plane to blow it up, the ABC added.
Four men were arrested Saturday after armed police stormed homes in at least four neighborhoods, though their names and ages have not been released and they have not been charged by police.
The Seven Network reported 40 riot squad officers moved on a terraced house in the inner city suburb of Surry Hills, as TV footage showed a man with a bandage on his head being led away by authorities, draped in a blanket.
Sections of surrounding roads remained cordoned off on Sunday as forensic officers and investigators wrapped up and removed items from the house.
Airline passengers have meanwhile been asked to arrive at least two hours early for domestic flights and three hours for international routes, and to limit their baggage.
“Australia has very strong safeguards in place at its airports; these changes are about making them even stronger,” Australian carrier Qantas said.
Airline Virgin Australia stressed that the additional airport security measures were just “precautionary” and passengers “should not be concerned.”
Turnbull said the national terror alert level, which was raised on September 2014 amid rising concerns over attacks by individuals inspired by organizations such as Daesh, would remain at probable.
Canberra has introduced new national security laws since then, while counter-terrorism police have also made a string of arrests.
A total of 12 attacks, before the latest announcement, have been prevented in the past few years, while 70 people have been charged, Justice Minister Michael Keenan said.
“The primary threat to Australia still remains lone actors, but there’s still the ability for people to have sophisticated plots and sophisticated attacks still remain a real threat,” he told reporters Sunday.
The prime minister added that the alleged plan appeared to be “more in that category of an elaborate plot.”
Several terror attacks have taken place in Australia in recent years, including a Sydney cafe siege in 2014 that saw two hostages killed.


Muslim World League pledges to make ‘Islamabad Declaration’ constitutional document for girls’ education

Updated 11 min 21 sec ago
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Muslim World League pledges to make ‘Islamabad Declaration’ constitutional document for girls’ education

  • The declaration was adopted at the end of a two-day conference in Pakistan on girls’ education in Muslim communities
  • It outlines framework to tackle challenges in girls’ education through gender-sensitive policies, resource mobilization

ISLAMABAD: Sheikh Mohammad bin Abdul Karim Al-Issa, secretary-general of the Muslim World League (MWL), on Sunday vowed to make the declaration of a global summit in Islamabad on girls’ education in Muslim countries a constitutional document of the MWL for “tangible” impact.
He expressed these views while addressing the concluding session of the two-day conference, titled “Girls’ Education in Muslim Communities: Challenges and Opportunities,” which was co-hosted by Pakistan and the MWL.
Over 150 representatives from 47 countries, including education experts, religious scholars, diplomats and politicians, attended the summit. It comes at a time when global leaders, organizations and activists are urging the Taliban to reverse their restrictive policies about women in Afghanistan.
The conference concluded with the adoption of the ‘Islamabad Declaration,’ a framework to address challenges in girls’ education in Muslim communities through gender-sensitive policies, resource mobilization, and strengthened international partnerships.
“The Muslim World League, along with its partners, commits to making the ‘Islamabad Declaration’ a constitutional document so the impact will be tangible,” the MWL chief said, adding that Islamic scholars addressed various misconceptions during the “exceptional and unified solidarity meeting” in Islamabad.
“Such a diverse group of scholars, with the presence of major Islamic jurisprudential councils, particularly the International Islamic Fiqh Academy under the OIC [Organiation of Islamic Cooperation], sends a strong message to the world about the unified stance of the scholars of the Islamic Ummah regarding girls’ education.”
The MWL chief said the Muslim world needed this collaboration for a unified voice reflecting Islam’s teachings.
“No one can claim to speak on behalf of Islam regarding this issue anymore as the scholars of the Ummah, supported by their jurisprudential councils, have delivered a clear and definitive statement,” he said.
“We do not address any specific individual or entity but speak to anyone opposing or hindering this cause, whether individuals or institutions, public or private.”
Muslim communities have often faced criticism for not providing sufficient opportunities to women in fields like education, though many of their countries have made significant strides in promoting women’s participation across various fields.
The issue of girls’ education has drawn heightened attention recently, particularly after Afghanistan’s interim administration, led by the Taliban, imposed restrictions on girls’ education, including shutting down secondary schools and barring women from attending universities.
On the first day of the conference, the secretary-general of the MWL, a Makkah-based non-governmental organization that represents followers of Islam around the world, said Islam places no restrictive conditions on girls’ education, and anyone opposing it deviates from the global Muslim community.
ISLAMABAD DECLARATION
The declaration emphasized that girls’ education is not only a religious obligation but also an “urgent societal necessity.”
“It is a fundamental right safeguarded by divine laws, mandated by Islamic teachings, reinforced by international charters, and well-established by national constitutions,” it said, calling for unified efforts to safeguard girls’ right to education and ensure their empowerment, and acknowledging that educated women play a pivotal role in fostering stable families and communities.
“This, in turn, promotes global peace, national harmony, and fortifies societies against challenges such as extremism, violence, crime, and atheism.”
Cautioning against extremist ideologies, the declaration said that issuing decrees and opinions, rooted in cultural norms and patterns, that obstruct girls’ education constitute a “regrettable perpetuation of societal biases against women.”
“Such actions represent a grave misuse of religious principles to legitimize policies of deprivation and exclusion,” it said.
The Islamabad Declaration urged mobilizing resources to support efforts to advance education through improved methods and content, with a particular emphasis on girls’ education, ensuring it is placed at the forefront of national priorities.
“Declaring that anyone who rejects or opposes these well-grounded Islamic religious principles is, by the consensus of this gathering as referenced in the preamble of this Declaration, considered outside the framework of the Islamic Ummah’s concepts and cannot be regarded as part of it,” it said, adding that it is essential to disavow such an ideology, whether they are an individual, an institution, or an entity, public or private.
At the end, the declaration stated that the MWL chief, being the initiator of the conference, will communicate all resolutions of the conference, oversee their implementation, and ensure the necessary financial and moral support.
The participants urged the initiator of the conference to establish a permanent committee to oversee the implementation of the outcomes of the event, including various agreements, which laid the foundation for an impactful action.
Yusuf Raza Gilani, chairman of Pakistan’s Senate, urged the Muslim world to embrace a comprehensive approach that combines collaborative action, resource development, and community engagement for girls’ education.
“I urge distinguished scholars and policymakers to translate the invaluable insights and lessons of this conference into tangible, impactful strategies that will inspire change,” he said at the concluding session.


Rain lashes parts of Saudi Arabia with warnings of thunderstorms and hail

Rain fell on parts of Saudi Arabia early on Sunday, with officials forecasting thunderstorms, hail, and strong winds. (SPA)
Updated 13 min 52 sec ago
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Rain lashes parts of Saudi Arabia with warnings of thunderstorms and hail

  • Overcast skies dominated the day in the capital Riyadh, which recorded moderate rainfall in the morning
  • The weather office also warned of potential near-zero visibility and flooding in some areas

RIYADH: Rain fell on parts of Saudi Arabia early on Sunday, with officials forecasting thunderstorms, hail, and strong winds.

Overcast skies dominated the day in the capital Riyadh, which recorded moderate rainfall in the morning.

The National Center of Meteorology forecast strong winds, hail and thunderstorms, the Saudi Press Agency reported.

The weather office also warned of potential near-zero visibility and flooding in some areas.

In the southern Jazan region, heavy rain was reported earlier in the day, affecting Jazan City for Basic and Transformative Industries, as well as the governorates of Ad-Darb, Beesh and the Farasan Islands.

The center issued alerts for Jazan, warning of thunderstorms, high waves and strong winds in the region.

Areas including Sabya, Abu Arish, Al-Harith, Ad-Dayer, Fifa, and Harub were highlighted in the advisory.

Residents were cautioned about the risk of reduced visibility and localized flooding in affected areas.

Earlier this week, parts of Saudi Arabia, including Asir, Makkah, and Madinah regions, experienced similar weather conditions.

Thunderstorms coupled with heavy rain caused temporary disruptions in traffic and daily activities.

The authorities issued several warnings during that period, urging residents to stay vigilant, especially in flood-prone areas.

The rainfall is caused by seasonal weather changes affecting parts of the Kingdom.

The Jazan region, in particular, often experiences heavy rains at this time of year, which can result in flash floods and other related challenges.

Authorities in Riyadh and Jazan have reiterated the importance of adhering to safety guidelines, particularly for motorists navigating slippery roads and areas prone to water accumulation.

Emergency response teams are on high alert to address any incidents caused by the adverse weather.

Residents in affected areas have been advised to follow updates and warnings issued by the center to ensure their safety as weather conditions develop.


Saudi Arabia ranks 7th globally in IPO proceeds, leads GCC region

Updated 53 min 15 sec ago
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Saudi Arabia ranks 7th globally in IPO proceeds, leads GCC region

  • Kingdom accounted for 42 of the 53 IPOs in the GCC in 2024
  • UAE led in terms of proceeds with $6.2 billion

RIYADH: Saudi Arabia led the Gulf Cooperation Council’s initial public offerings market in 2024, earning a global ranking of seventh in total IPO proceeds, according to the latest report from Kamco Invest. 

The Kingdom accounted for 42 of the 53 IPOs in the GCC last year, significantly outpacing its regional peers and aligning with expectations to maintain its leadership in the coming year.

The surge in listings highlights Saudi Arabia’s dominant position in the regional capital markets and its role as a key driver of IPO activity across the GCC. 

The figure represents a sharp increase from 46 IPOs across the GCC in 2023, underscoring continued investor interest and market dynamism. 

 

GCC issuers collectively raised $12.9 billion in 2024, a 19.8 percent increase from $10.8 billion in 2023, despite global IPO markets experiencing their weakest performance since 2009. 

Within the GCC, Saudi companies contributed $4.1 billion, amounting to 31.6 percent of total regional proceeds. 

While the UAE led in terms of proceeds with $6.2 billion, its share of GCC IPO proceeds dropped from 56.3 percent in 2023 to 47.8 percent in 2024. 

Oman ranked third, with state-backed privatizations raising $2.5 billion, or 19.3 percent of total GCC proceeds. 

 

The majority of Saudi IPOs occurred on the Nomu–Parallel Market, which hosted 28 of the Kingdom’s listings. 

The main market recorded 14 IPOs, including standout listings such as Dr. Soliman Abdel Kader Fakeeh Hospital, which was oversubscribed 119 times and garnered orders worth $91 billion.

Other notable listings included Almoosa Health, Miahona Utilities, and Nice One Beauty Digital Marketing. 

The strong demand was driven by a local investor base and underscored the resilience of Saudi capital markets despite challenges such as declining oil prices and geopolitical tensions. 

 

The report said that sectors such as health care, materials, and professional services were among the most active in Saudi IPOs, reflecting strong fundamentals and investor confidence in these industries. 

Globally, the GCC ranked fourth in IPO proceeds, trailing China, the US, and Japan, demonstrating its growing importance as a financial hub. 

Looking ahead to 2025, Saudi Arabia is expected to further dominate, with 31 IPOs in the pipeline, according to Kuwait-based asset management company Kamco Invest. 

The Kingdom’s Public Investment Fund is set to play a pivotal role with upcoming listings of Saudi Global Ports, Nupco, and Tabreed District Cooling, among others. Several private companies, including flynas, Tabby, and Ejada Systems, are also preparing IPOs. 

 

Oman plans to privatize up to 30 assets in the coming years, with Asyad Group and Oman Electricity Transmission Co. expected to go public in 2025. 

In the UAE, major listings are anticipated from hotel operator FIVE and real estate companies under Dubai Holding, alongside Dubizzle Group and Alpha Data. 

Despite external headwinds like geopolitical tensions and rising economic pressures, the GCC IPO market has proven resilient, with a robust pipeline of offerings across various sectors. 


Oman’s import price index up 1.1% in Q3 2024

Updated 57 min 56 sec ago
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Oman’s import price index up 1.1% in Q3 2024

  • Largest price hike was recorded in miscellaneous manufactured goods category, which rose by 11%
  • Mineral fuels and related materials saw a significant decrease of 22.2%

RIYADH: Oman’s general index of import prices saw an increase of 1.1 percent in the third quarter of 2024 compared to the same period in 2023, according to data from the National Center for Statistics and Information.

The largest price hike was observed in the miscellaneous manufactured goods category, which rose by 11 percent. This was followed by beverages and tobacco (up 6.7 percent), and food and live animals (up 5.7 percent).

Other notable increases included machinery and transport equipment (5.3 percent), chemicals and related materials (4.3 percent), raw materials (4.3 percent), manufactured goods primarily categorized by material (1.6 percent), and vegetable and animal oils, fats, and waxes (0.9 percent).

In contrast, the category of mineral fuels and related materials saw a significant decrease of 22.2 percent.

This increase in import prices aligns with Oman’s overall rise in imports, which grew by 10.8 percent, reaching 8 billion Omani rials ($20.8 billion) by June 2024, up from 7.2 billion rials in the same period of 2023.

Additionally, the general index of import prices declined by 4.8 percent when compared to the second quarter of 2024. This drop was largely due to decreases in the prices of beverages and tobacco (-22.4 percent), mineral fuels and related materials (-11.6 percent), and chemicals and related materials (-10.8 percent).

The miscellaneous manufactured goods category also saw a reduction of 10.2 percent, while machinery and transport equipment dropped by 3.9 percent. However, the raw materials category saw a 32 percent increase, vegetable and animal oils, fats, and waxes rose by 9.2 percent, and food and live animals increased by 3.5 percent.

Lending trend

Oman’s banking sector experienced a 4.2 percent year-on-year growth in the total balance of credit granted by the end of November 2024, reaching 32.2 billion rials.

According to the Central Bank of Oman, credit to the private sector grew by 5.1 percent, totaling 26.8 billion rials during the same period. This growth reflects the central role of the banking sector in providing credit within the Omani economy, especially given the limited access the private sector has to debt capital markets. In 2022, private sector credit represented 55.4 percent of the country’s gross domestic product, a trend consistent with data from the International Monetary Fund.

Further breakdowns of the credit data revealed that the largest share (45.3 percent) of the private sector credit went to individuals, followed closely by non-financial companies at 45.1 percent. The remaining 9.6 percent was divided between financial firms (6.1 percent) and other sectors (3.5 percent).

In terms of deposits, the total balance in Omani banks grew by 10.8 percent, reaching 31.5 billion rials by the end of November. Of this, private sector deposits increased by 9.2 percent, amounting to 20.6 billion rials.

The breakdown of private sector deposits revealed that the individual sector held the largest share at 49.7 percent, followed by the non-financial corporate sector at 30.6 percent, and the financial corporate sector at 17.1 percent. Other sectors accounted for 2.6 percent.


Pakistan minister says private sector plays ‘pivotal role’ in promoting trade with UAE

Updated 12 January 2025
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Pakistan minister says private sector plays ‘pivotal role’ in promoting trade with UAE

  • Pakistan-UAE ties based on mutual trust, respect and shared aspirations, says commerce minister
  • UAE is Pakistan’s close ally and its third-largest trading partner after China and the United States

ISLAMABAD: Pakistan’s Commerce Minister Jam Kamal Khan this week highlighted the pivotal role played by the private sector in promoting the country’s trade and investment with the United Arab Emirates (UAE), saying that their ties were rooted in shared aspirations and mutual respect. 

Khan was speaking at a luncheon in Dubai on Saturday that was hosted by the Pakistan Business Council (PBC) Dubai at the Pakistan Association Dubai (PAD).

The event brought together over 100 guests including prominent Pakistani businessmen, VIPs, members of the PBC and officials from the Pakistan Consulate Dubai. It provided a platform to discuss investment opportunities, enhance exports, and bolster bilateral trade relations, the commerce ministry said. 

“Pakistan’s Federal Minister for Commerce, Jam Kamal Khan, emphasized the critical role of the private sector in strengthening trade and investment ties between Pakistan and the UAE,” the commerce ministry said. 

The minister lauded the newly elected PBC board, expressing confidence in its ability to work in collaboration with the Pakistan Consulate to advance Pakistan-UAE trade relations. 

“Highlighting the deep-rooted ties between the two nations, he described them as built on mutual respect, trust, and shared aspirations,” the statement added. 

Khan acknowledged the Pakistani diaspora in UAE for fostering economic prosperity and growth.

“The private sector plays a pivotal role in leading and solidifying trade and investment initiatives between Pakistan and the UAE,” the minister said. 

He urged business leaders to capitalize on opportunities to boost bilateral trade and unlock new avenues for economic development. 

The UAE is Pakistan’s third-largest trading partner after China and the United States (US), and a major source of foreign investment, valued at over $10 billion in the last 20 years, according to the UAE foreign ministry. It is also home to more than a million Pakistani expatriates. 

Policymakers in Pakistan consider the UAE an optimal export destination due to its geographical proximity, which minimizes transportation and freight costs while facilitating commercial transactions.

In January last year, Pakistan and the UAE signed multiple agreements worth more than $3 billion for cooperation in railways, economic zones and infrastructure, a Pakistani official said, amid Pakistani caretaker prime minister Anwaar-ul-Haq Kakar’s visit to Davos, Switzerland to attend 54th summit of the World Economic Forum (WEF).