BARCELONA: Grief-stricken Barcelona paid homage Sunday to victims of two terror assaults at a mass in the city’s Sagrada Familia church, as investigators turned their focus to a missing Moroccan imam believed to have radicalized the young attackers.
King Felipe, Prime Minister Mariano Rajoy and Catalonia’s president Carles Puigdemont led the ceremony mourning the 14 people killed by jihadists who used vehicles to mow down pedestrians in Barcelona’s Las Ramblas boulevard on Thursday and in the nearby seaside resort of Cambrils early Friday.
“These have been days of tears, many tears,” said auxiliary bishop Sebastia Taltavull.
Outside the church, snipers were posted on rooftops surrounding the landmark building by Gaudi, while heavily armed police stood guard as hundreds of people gathered under grey skies.
Catalonia resident Teresa Rodriguez said she had turned up to pray for the victims.
“What happened in Las Ramblas is really hard for us, we go for walks there often, it could have happened to me, my children or anyone. And here we are. It’s huge, huge,” she said as she fought back tears.
Later Sunday, nearly 100,000 people were expected at Barcelona’s Camp Nou stadium for their team’s first game of the season, to be marked by a minute of silence for the victims.
Interior Minister Juan Ignacio Zoido said Saturday the cell behind the carnage that also injured 120 had been “dismantled,” although local authorities took a more cautious tone.
Police were still hunting 22-year-old Younes Abouyaaqoub, who media reports say was the driver of a van that smashed into crowds on the popular Las Ramblas boulevard on Thursday, killing 13 people.
Hours later, there was a similar assault in the seaside town of Cambrils that left one woman dead. Police shot and killed the five attackers, some of whom were wearing fake explosive belts.
An extensive security operation including roadblocks was mounted overnight across Catalonia.
Daesh group claimed responsibility for the attacks, believed to be its first in Spain.
The terror cell in Spain reportedly comprised at least 12 young men, some of them teenagers.
Investigators are seeking to unravel the role of an imam, Abdelbaki Es Satty, who is believed to have radicalized many of the youths from a small town called Ripoll, at the foot of the Pyrenees.
Several of the suspects — including Abouyaaqoub — grew up or lived in the town of about 10,000 inhabitants.
On Saturday, police raided the imam’s apartment in Ripoll, his flatmate, who would only identify himself as Nourddem, told AFP.
Spanish media quoting police sources, said the officers were looking for DNA traces in the apartment to compare with body parts found in an explosion in a home in Alcanar, about 200 kilometers (120 miles) south of Barcelona, where the alleged jihadists were believed to have been building bombs.
Police said they believed the suspects were planning a much larger attack.
“They were preparing one or several attacks in Barcelona, and an explosion in Alcanar stopped this as they no longer had the material they needed to commit attacks of an even bigger scope,” said Josep Lluis Trapero of Catalonia’s police.
Security forces were seen removing dozens of gas canisters from the house in Alcanar on Friday.
The imam was also known to police, according to Spanish media, which reported that he had spent time in prison.
El Pais and El Mundo quoting anti-terrorist forces said the imam had met prisoners linked to the March 2004 Al-Qaeda-inspired bombing attack on commuter trains in Madrid that killed 191 people, the worst terror attack in Europe.
A clearer picture is emerging of the suspected perpetrators.
Most of them are children of Moroccan immigrants, including Ripoll-born Moussa Oukabir, 17, one of five suspects shot dead in Cambrils. His older brother Driss is among the four arrested.
In Morocco, Moussa and Driss’s father Said broke down, surrounded by relatives.
“I hope they will say he’s innocent... I don’t want to lose my two sons,” he told AFP.
A cousin said Moussa “loved playing football, having a good time, chatting up girls.”
He traveled to Morocco almost every year for the summer holidays and was expected back last Tuesday.
“The last few months, he started to become interested in religion. He used to go to a mosque in Ripoll. Maybe that’s where he was brainwashed,” the cousin said.
Victims of the attack came from three dozen countries including Algeria, Australia, China, France, Ireland, Peru and Venezuela, reflecting Barcelona’s status as Spain’s most popular tourist destination.
Fifty-four people are still in hospital, including 12 in critical condition, Catalan emergency services said.
With the peak summer tourism season still in full swing, the Spanish government ordered security ramped up in crowded places, although it kept the terror threat level at four out of a maximum five.
Tourism has been vital to Spain’s economic recovery, and because it has until now been spared the wave of extremist attacks that hit Europe, it has recorded a surge as visitors shunned more restive destinations such as Tunisia and Egypt.
Spain mourns attack victims as probe zeroes in on imam
Spain mourns attack victims as probe zeroes in on imam
Saudi Arabia a ‘pivotal force’ in reshaping world football and sport, says US expert
- Kristian Coates Ulrichsen speaking to SPA following release of his new book “Kingdom of Football: Saudi Arabia and the Remaking of World Soccer”
LONDON: Saudi Arabia is playing a central role in transforming global football and wider sport, according to Middle East expert Kristian Coates Ulrichsen of the Baker Institute for Public Policy at Rice University.
Speaking to the Saudi Press Agency following the release of his new book “Kingdom of Football: Saudi Arabia and the Remaking of World Soccer,” Ulrichsen said the Kingdom’s rise in global sport is “not a temporary shift but a broad transformation with political, economic, social, and cultural dimensions.”
He continued: “The Kingdom has undergone profound changes and has quickly and decisively entered the global sports arena through club acquisitions, sponsorship of major tournaments, and hosting high-profile events, notably the upcoming FIFA World Cup 2034.”
Ulrichsen noted the country’s long footballing heritage, with top-tier clubs approaching their centenary milestones and the national team having reached five consecutive AFC Asian Cup finals.
He also highlighted Saudi clubs’ strong record in continental competitions since the early 2000s.
In the book, he stresses that sport, entertainment, and tourism form “integral pillars of Vision 2030 and (are) essential to positioning Saudi Arabia as a global destination” in the coming years.
“Saudi Arabia’s engagement with sports has generated global impact across football, boxing, Formula 1, and even cricket, tennis, and e-sports,” he added.
“These sectors are expected to dominate international discussions throughout the next decade leading up to 2034.”
Pakistan’s top revenue-generating Sindh province unveils $12.4 billion budget with major tax cuts
- Sindh, home to commercial hub Karachi, wants to abolish five taxes to ease pressure on individuals, businesses
- Khyber Pakhtunkhwa, governed by jailed ex-PM Khan’s PTI, presents $7.63 billion budget for FY2025-26
KARACHI: Pakistan’s southern Sindh province on Friday proposed abolishing five taxes as it presented a Rs3.45 trillion ($12.41 billion) new budget for fiscal year 2025-26 to simplify taxation and alleviate financial pressure on people and small businesses.
Friday also saw Pakistan’s northwestern Khyber Pakhtunkhwa (KP) province announcing a surplus budget of Rs2,119 billion ($7.63 billion) for next year, without proposing any new taxes. The province allocated significant financial resources for the militancy-hit tribal districts and social welfare programs, according to the budget document.
SINDH
Sindh’s budget, which carries a deficit of Rs38.46 billion ($138.35 million), includes plans to eliminate professional tax, cotton fee and entertainment duty among other levies as part of broader reforms to support salaried individuals, small businesses, and cultural industries.
“I would like to share some important changes being planned to make our tax system simpler and to reduce the financial burden on both individuals and businesses,” Chief Minister Murad Ali Shah said while presenting the budget in the provincial assembly.
Sindh generates most of Pakistan’s revenues, more than 60 percent, and is the second most populous province ruled by Pakistan People’s Party of President Asif Ali Zardari, a coalition partner of Pakistan Muslim League-Nawaz party which leads the federal government.
Pakistan remains under a $7 billion International Monetary Fund (IMF) loan program approved last year and the Washington-based lender wants Islamabad to broaden its tax base by taxing incomes from agriculture, retail and real estate sectors at the provincial level.
The two provinces announced their new fiscal plans days after Pakistan’s federal government announced its FY26 budget targeting 4.2 percent economic growth, while aiming to arrest fiscal deficit at 3.9 percent of the GDP.
In Sindh, the province’s total revenue receipts are projected at Rs3.41 trillion ($12.27 billion) for FY2025-26, up 11.6 percent from the current fiscal year ending June. Transfers from the federal divisible pool, which account for 75 percent of revenue, are expected to rise 10.2 percent to Rs1.93 trillion ($6.94 billion). With additional grants and straight transfers, total federal receipts are estimated at Rs2.10 trillion ($7.55 billion).
Current Revenue Expenditure (CRE) has been set at Rs2.15 trillion ($7.73 billion), a 12.4 percent increase from the prior year, driven by higher salaries, pensions, and grants to non-financial institutions.
Allocations for key sectors have seen marked increases. The education budget has risen to Rs523.73 billion ($1.88 billion) – a 12.4 percent hike – with major investments in primary and secondary education. New initiatives include hiring 4,400 staff, opening four community colleges, and funding for 34,100 primary schools through cost centers.
The health sector will receive Rs326.5 billion ($1.17 billion), up 8 percent, including Rs19 billion ($68.35 million) for the Sindh Institute of Urology & Transplantation (SIUT) and Rs10 billion ($35.97 million) for a new hospital in Larkana.
Enhanced ambulance and mobile diagnostic services are also planned.
Grants-in-aid total Rs702 billion ($2.53 billion), reflecting allocations for hospitals, universities, and development bodies. A Rs520 billion ($1.87 billion) Annual Development Program (ADP) focuses on 475 new schemes targeting flood recovery, renewable energy, and underserved regions.
Karachi, the provincial capital of Sindh, will see major upgrades in transport and infrastructure. Fifty electric buses will launch this year, with 100 more expected by August. Bus Rapid Transit (BRT) Yellow Line is nearing completion, and the Red Line has passed the halfway mark.
The Karachi Safe City initiative will expand CCTV coverage using artificial intelligence, while blockchain-based land records, a KPI monitoring dashboard, and digital birth registration aim to enhance governance.
In rural areas, Rs20 billion ($71.95 million) has been allocated for pro-poor initiatives, while the new Benazir Hari Card will support 200,000 farmers. The Sindh Cooperative Bank is being explored to provide interest-free loans to progressive farmers.
KHYBER PAKHTUNKHWA
Presenting the new budget, Khyber Pakhtunkhwa’s Finance Minister Aftab Alam said the province achieved a Rs100 billion ($359.71 million) surplus in the outgoing fiscal year despite receiving Rs90 billion ($323.74 million) less in funds from the federal government.
The province is ruled by jailed former Prime Minister Imran Khan’s Pakistan Tehreek-e-Insaf (PTI) party, which is in opposition at the federal level.
“Against all odds and skepticism, we not only met our budget targets but also ensured timely debt repayments of Rs49 billion [$176.26 million],” Alam said.
He added that KP’s own non-tax revenues rose by 74 percent this year, while the KP Revenue Authority collected Rs41.37 billion ($148.79 million) in the first 10 months of the outgoing fiscal year.
The province has set a tax revenue target of Rs83.5 billion ($300 million) and a non-tax revenue target of Rs45.5 billion ($163.71 million) for the next fiscal year, aiming to widen the tax net rather than impose new levies.
Federal transfers, including Rs1,147.91 billion ($4.13 billion) from tax revenues and Rs58.15 billion ($209.17 million) in oil windfall levy, are expected to form the bulk of receipts.
The tribal districts are set to receive Rs292.34 billion ($1.05 billion), including Rs50 billion ($179.85 million) under an accelerated implementation program and Rs39 billion ($140.28 million) for development.
Key initiatives include the expansion of the Sehat Card Plus with life insurance coverage, recruitment of 16,000 teachers, and establishment of new degree colleges.
The province’s police force will receive Rs693.7 million ($2.49 million) for modern arms and Rs1.22 billion ($4.39 million) for vehicles.
IFC to provide $400 million loan for Pakistan’s copper-gold Reko Diq mine
- The loan adds to a $300 million commitment announced in April, bringing the total to $700 million
- Reko Diq, one of the largest undeveloped copper-gold deposits, is being developed by Barrick Gold
ISLAMABAD: The International Finance Corporation will provide a $400 million subordinated loan for Pakistan’s Reko Diq copper-gold mine, according to an IFC disclosure on Friday.
The loan adds to a $300 million commitment announced in April, bringing IFC’s total financing for the project to $700 million. The estimated cost of the mine is $6.6 billion, to be funded through a mix of debt and equity from a consortium of lenders.
“The estimated total Project cost is $6.6bn, and it will be financed using a combination of debt and equity,” the disclosure said, adding that other parallel lenders will provide the remaining debt financing.
This type of loan, known as subordinated debt, is typically repaid after other senior loans and helps absorb more risk, making it easier for other lenders to invest.
Other financiers, including the US EXIM Bank, Asian Development Bank, Export Development Canada, and Japan’s JBIC, are also expected to join the financing package, project director Tim Cribb told Reuters in April.
Term sheets are expected to close by early in the third quarter. IFC chief Makhtar Diop said earlier this year that the institution was “doubling down” on Pakistan, with a focus on infrastructure, energy and natural resources.
Reko Diq, located in Balochistan, is one of the world’s largest undeveloped copper-gold deposits. It is being developed by Barrick Gold, which holds 50 percent, with the remainder split between Pakistan’s federal and provincial governments.
Production is expected to begin in 2028. Barrick has projected the mine will generate up to $74 billion in free cash flow over its estimated 37-year life.
Saudi Arabia takes leading role in Helsinki ICRC donor summit
- The Kingdom’s delegation took part in various discussions, led by its deputy ambassador to Finland, Faisal Al-Shehri
RIYADH: Saudi Arabia has joined the International Committee of the Red Cross donor support group during a high-level summit in Helsinki, while simultaneously taking charge of a global peace-building initiative.
The Kingdom’s delegation took part in various discussions, led by its deputy ambassador to Finland, Faisal Al-Shehri, and Geneva-based humanitarian affairs chief at Saudi Arabia’s Permanent Mission to the United Nations, Shatha Al-Ahmadi.
ICRC president Mirjana Spoljaric highlighted Saudi Arabia’s status within the humanitarian community, describing the Kingdom as “not only a donor state, but a trusted and vital political partner for the International Committee of the Red Cross.”
Spoljaric specifically commended Saudi Arabia’s significant contributions to the global initiative designed to strengthen political commitment to international humanitarian law, positioning the Kingdom as a key driver of humanitarian policy development.
The Saudi delegation expressed appreciation to both the ICRC and Finnish government for organizing the summit, saying the Kingdom’s membership reflected its commitment to humanitarian work: “Our participation reflects an unwavering dedication to humanitarian action, rooted in our firm belief in the international community’s collective duty to assist conflict victims and deliver humanitarian aid.”
The delegation emphasized its full recognition of the ICRC’s unique mandate and exceptional position among humanitarian organizations, reaffirming Saudi support for maintaining its independence and neutrality.
The Kingdom has assumed leadership of the global initiative’s third operational track, which addresses the intersection of international humanitarian law and peace-building efforts.
Saudi delegates stressed the need for peaceful conflict resolution, political dialogue enhancement and diplomatic engagement between nations to foster mutual respect and create pathways toward lasting reconciliation and sustainable peace building.
The summit concluded with a ceremonial leadership transfer from Finland to the UK within the donor group structure.
Saudi representatives congratulated their British counterparts, expressing their enthusiasm for enhanced collaboration with the incoming leadership and all international partners to advance multilateral humanitarian system development.
Pakistan stocks drop over 1,900 points amid Israel-Iran tensions
- Analysts cite fears of broader regional escalation following Israeli strikes on Iran
- Israel struck Iran, claiming Tehran was “close” to developing a nuclear weapon
KARACHI: The Pakistan Stock Exchange (PSX) plunged more than 1,900 points on Friday, as investor sentiment soured following Israel’s strikes on Iran, triggering fears of wider regional escalation.
The benchmark KSE-100 index fell 1,949.56 points, or 1.57 percent, closing at 122,143.56, down from the previous close of 124,093.12.
Shares traded largely in the red, mirroring losses across regional and global markets after the Israeli attacks shook investor confidence, according to a market review by Pakistani brokerage Topline Securities.
“Geopolitical tensions after Israel’s attack in Iran weighed down on world equities, including the KSE100,” Raza Jafri, Head of Intermarket Securities, told Arab News. “In particular, if a geopolitical risk premium gets added to international oil prices on a prolonged basis, it could negatively affect the outlook for the current account deficit and inflation, given more than 25 percent of Pakistan’s import bill comprises of petroleum products.”
He noted that Pakistan was now “much more disciplined” economically, having avoided fuel subsidies and refrained from using foreign exchange reserves to support the currency. This, he said, would help the country better withstand a potential oil price shock than in the past.
Ahsan Mehanti, Chief Executive of Arif Habib Commodities Ltd, said stocks declined across the board in response to the strikes.
“Slump in global equities on geopolitical risks and weakening rupee played catalyst role in panic selling at PSX,” he said.
Israel launched strikes on Iran earlier on Friday, claiming Tehran was “very close” to developing a nuclear weapon. The attacks reportedly targeted nuclear facilities, scientists, and senior military commanders.
