US sending assault ship, Patriot battery to Middle East amid Iran 'threat'

Updated 11 May 2019
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US sending assault ship, Patriot battery to Middle East amid Iran 'threat'

— Developing story.


Saudi Foreign Ministry expresses condolences to Azerbaijan after deadly plane crash

Updated 6 min 52 sec ago
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Saudi Foreign Ministry expresses condolences to Azerbaijan after deadly plane crash

  • Kingdom extends sympathies to victims’ families

RIYADH: Saudi Arabia’s Ministry of Foreign Affairs has expressed its heartfelt condolences and sympathies to the families of those who lost their lives in the plane crash in Aktau, western Kazakhstan, on Wednesday.

The Kingdom also extended its sympathies to the government and people of Azerbaijan, wishing a swift recovery to the injured, the Saudi Press Agency reported.

On Wednesday morning, a passenger plane traveling from Azerbaijan to Russia crashed near Aktau, western Kazakhstan, with 62 passengers and five crew members on board.

Later, Kazakh authorities announced that 28 people had survived and that Azerbaijan Airlines had operated the plane.

Unverified video footage circulating on social media platforms appeared to show the plane bursting into flames as it struck the ground, with thick black smoke rising afterward.


Ousted Bangladesh PM Hasina’s son denies graft in $12.65 billion nuclear deal

Updated 41 min 1 sec ago
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Ousted Bangladesh PM Hasina’s son denies graft in $12.65 billion nuclear deal

  • Bangladesh’s Anti Corruption Commission has launched corruption inquiry into Rooppur Nuclear Power Plant project, backed by Russia’s state-owned Rosatom
  • Rosatom, world’s largest supplier of enriched uranium, refuted the allegations, adding that it was committed to combat corruption in all its projects

NEW DELHI: Ousted Bangladesh Prime Minister Sheikh Hasina’s son and adviser on Tuesday described allegations of corruption involving the family in the 2015 awarding of a $12.65 billion nuclear power contract as “completely bogus” and a “smear campaign.”
Bangladesh’s Anti Corruption Commission said on Monday it had launched an enquiry into allegations of corruption, embezzlement and money laundering in the Rooppur Nuclear Power Plant project, backed by Russia’s state-owned Rosatom.
A deal for two power plants, each with a capacity of 1,200 megawatts, was signed in 2015.
The commission has alleged that there were financial irregularities worth about $5 billion involving Hasina, her son Sajeeb Wazed and her niece and British treasury minister Tulip Siddiq, through offshore accounts.
Rosatom, the world’s largest supplier of enriched uranium, refuted the allegations, adding that it was committed to combat corruption in all its projects and that it maintains a transparent procurement system.
“Rosatom State Corporation is ready to defend its interests and reputation in court,” it said in an emailed statement to Reuters.
“We consider false statements in the media as an attempt to discredit the Rooppur NPP project, which is being implemented to solve the country’s energy supply problems and is aimed at improving the well-being of the people of Bangladesh.”
Siddiq did not respond to a request for comment.
A spokesperson for British Prime Minister Keir Starmer said Siddiq had denied any involvement in the claims and that he had confidence in her. Siddiq would continue in her role, the spokesperson added.
Wazed, speaking on behalf of the family, said they were the targets of a political witch hunt in Bangladesh.
“These are completely bogus allegations and a smear campaign. My family nor I have ever been involved or taken any money from any government projects,” he told Reuters from Washington, where he lives.
“It is not possible to siphon off billions from a $10 billion project. We also don’t have any offshore accounts. I have been living in the US for 30 years, my aunt and cousins in the UK for a similar amount of time. We obviously have accounts here, but none of us have ever seen that kind of money.”
Reuters could not contact Hasina, who has not been seen in public since fleeing to New Delhi in early August following a deadly uprising against her in Bangladesh. Since then, an interim government has been running the country.
The government in Dhaka said on Monday it had asked India to send Hasina back. New Delhi has confirmed the request but declined further comment.
Wazeb said the family had not made a decision on Hasina’s return to Bangladesh and that New Delhi had not asked her to seek asylum elsewhere.


South Africa aim to seal its place in WTC final in test series against Pakistan

Updated 47 min 25 sec ago
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South Africa aim to seal its place in WTC final in test series against Pakistan

  • The Proteas need to win one of its remaining two test matches in this WTC cycle to guarantee a place at the Lord’s final next year 
  • Pakistan have long been struggling in test matches in South Africa, losing 12 and winning two of 15 test matches since first tour in 1995

CENTURION: South Africa will be eyeing a place in the World Test Championship final with an all-seam attack against Pakistan in the first test, starting Thursday.
The Proteas need to win one of its remaining two test matches in this WTC cycle to guarantee a place at the Lord’s final next year and captain Temba Bavuma believes expectations have risen in his team to do well in the two-test series.
“There’ll be pressure that comes with that,” Bavuma said. “But to be honest with you, we’re coming into the series to win the series 2-0. We understand that for us to do that, there’s certain things that we need to do as a team: keep things simple, keep doing the small things right, and allow the results to take care of itself.”
South Africa has included four fast bowlers in the lineup with Corbin Bosch, who consistently bowls above 140 kph, set to play his first test at his hometown.
Seasoned fast bowlers Kagiso Rabada and Marco Jansen will team up with Dane Paterson and Bosch to challenge Pakistan's batters on an expected pacey Centurion pitch where fast bowlers have a clear advantage over the last six years, picking up 227 wickets with spinners dismissing only 16 batters.
Heading into the tests, South Africa's top-order batters did struggle against Pakistan in a rare 3-0 ODI whitewash with Tony de Zorzi, Ryan Rickelton and Tristan Stubbs all failing to read the offspin bowling of Salman Ali Agha in the opening game of the series.
“Whether it’s easy, whether it’s hard, we’ve got to find a way to do it,” Bavuma said. “Whatever, I don’t know, trauma that was there ... guys will have to deal with it.”
Pakistan have long been struggling in test matches in South Africa, losing 12 and winning just two of the 15 test matches since it first toured the country in 1995. Pakistan's below-par show in South Africa includes its lowest test score of 49 at the Wanderers in 2013.
Pakistan are lying at No. 7 in the WTC points table and Aaqib Javed is its fourth head coach in this WTC cycle with Mickey Arthur and Mohammad Hafeez quitting after one series. Jason Gillespie resigned just two weeks before Thursday’s test.
Gillespie, who was hired by the Pakistan Cricket Board in April, had a horror start to his two-year contract when Bangladesh swept Pakistan in Pakistan 2-0 in the test series before England won the first test at Multan.
Gillespie was removed from the selection panel and Javed masterminded Pakistan’s back-to-back wins against England on two engineered spinning pitches where Noman Ali and Sajid Khan bagged 39 wickets.
But Pakistan has brought in only Noman Ali for the two-test series in South Africa and is still contemplating whether to follow South Africa and go with an all-out pace attack.
Shaheen Shah Afridi, who played in the preceding white-ball series in South Africa, has been surprisingly left out for the test matches.
Naseem Shah and Babar Azam return to the test fold after missing the last two home tests against England while selectors have recalled seamer Mohammad Abbas after three years with the left-arm seam option of Mir Hamza in the squad.
Abbas took 90 wickets in 25 test matches from 2017 to 21 before he ran out of selectors’ favor despite his consistent performances for Hampshire in England and in domestic first-class cricket.


Cancer-hit UK king hails doctors in Christmas speech

Britain's King Charles speaks with Reverend Canon Dr Paul Williams as the Royals take residence at the Sandringham estate.
Updated 45 min 9 sec ago
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Cancer-hit UK king hails doctors in Christmas speech

  • “We cannot help but think of those for whom the devastating effects of conflict in the Middle East … pose a daily threat to so many people’s lives,” king said

LONDON: King Charles III thanked “selfless doctors and nurses” for supporting the royal family in his Christmas address, marking the end of a year during which he and Princess Catherine have battled cancer.
Speaking in a pre-recorded message from a former hospital chapel, the king paid tribute to medical staff, veterans and humanitarian workers, and touched upon topics ranging from global conflicts to the far-right riots in the UK this summer.
The monarch’s traditional Christmas message, the first in nearly two decades made outside a royal residence, was symbolically filmed in the ornate Fitzrovia Chapel in central London.
“I offer special heartfelt thanks to the selfless doctors and nurses who this year have supported me and other members of my family through the uncertainties and anxieties of illness, and have helped provide the strength, care and comfort we have needed,” Charles, 76, said.
“I am deeply grateful too to all those who have offered us their own kind words of sympathy and encouragement,” the king added.
His daughter-in-law Princess Catherine was also diagnosed with cancer just weeks after him, temporarily removing the two senior royals from frontline duties.
They have gradually resumed engagements, with Kate, as she is widely known, announcing she had completed chemotherapy in September. Charles is still undergoing regular treatment for cancer, expected to continue into 2025.
Charles, who became monarch in 2022 after the death of his mother Queen Elizabeth II, also hailed the country’s response to divisive far-right riots that took place across England in August and September following the fatal stabbing of three young girls.
“I felt a deep sense of pride here in the United Kingdom when in response to anger and lawlessness in several towns this summer, communities came together not to repeat these behaviors, but to repair,” Charles said.
Calling for peace, the king reflected on conflicts across the world in a year which also marked the 80th anniversary of the D-Day landings.
“During previous (D-Day) commemorations, we were able to console ourselves with the thoughts that these tragic events seldom happen in the modern era,” said Charles.
“But on this Christmas Day, we cannot help but think of those for whom the devastating effects of conflict in the Middle East, in Central Europe, in Africa and elsewhere, pose a daily threat to so many people’s lives and livelihoods.”
Charles praised the “diversity of culture, ethnicity and faith” in Commonwealth countries, after attending a summit in Samoa in October.
“Across the Commonwealth, we are held together by a willingness to listen to each other,” Charles added, as the bloc increasingly confronts the legacy of slavery and colonialism under the former empire.
The eco-conscious king notably did not address climate change or environmental concerns this time around, in a shift from last year’s address.
However, in the backdrop of the broadcast was a live Christmas tree that was later donated and replanted, a tradition begun by Charles in 2023.
The king ended the speech with a call for “peace on earth.”
“And so it is with this in mind that I wish you and all those you love a most joyful and peaceful Christmas,” he concluded.
In keeping with tradition, Charles and his wife Queen Camilla, 77, were joined by other senior royals for their annual festive gathering at the family’s Sandringham estate in eastern England.
Heir-to-the-throne Prince William and Kate along with their three children were part of the royal entourage attending a morning church service followed by Christmas lunch.
Disgraced Prince Andrew, however, was missing from the festivities after revelations of his dealings with a suspected Chinese spy emerged just weeks earlier.
The king’s younger brother was present at last year’s gathering despite being shunned from royal life over his ties to convicted sex offender Jeffrey Epstein.
Also missing were Prince Harry and his wife Meghan — who quit royal life in 2020 and moved to California — making it the sixth royal Christmas they have missed in a row.


Closing Bell: Saudi main index slips to close at 11,892

Updated 25 December 2024
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Closing Bell: Saudi main index slips to close at 11,892

  • Parallel market Nomu gained 86.66 points, or 0.28%, to close at 31,007.06
  • MSCI Tadawul Index lost 3.16 points, or 0.21%, to close at 1,493.74

RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Wednesday, losing 21.63 points, or 0.18 percent, to close at 11,892.32.

The total trading turnover of the benchmark index was SR2.79 billion ($746 million), as 132 of the stocks advanced and 86 retreated. 

The Kingdom’s parallel market Nomu gained 86.66 points, or 0.28 percent, to close at 31,007.06. This comes as 49 of the listed stocks advanced, while 29 retreated. 

The MSCI Tadawul Index lost 3.16 points, or 0.21 percent, to close at 1,493.74. 

The best-performing stock of the day was Al-Baha Investment and Development Co., whose share price surged 8.33 percent to SR0.52. 

Other top performers included Red Sea International Co., whose share price rose 6.32 percent to SR60.60 and Saudi Industrial Development Co., whose share price surged 5.07 percent to SR30.05.

MBC Group Co. recorded the biggest drop, falling 3.31 percent to SR52.50.

Bawan Co. also saw its stock prices fall 3.05 percent to SR54.10.

Savola Group saw its stock prices drop 2.97 percent to SR35.90.

On the announcements front, Saudi Arabian Mining Co., also known as Ma’aden, has announced ‎acquiring a full stake of Mosaic Phosphate in Waad Al-Shamal Phosphate Co. 

According to a Tadawul statement, the financial impact of the acquisition will be reflected in the company’s consolidated financial statements for the year ending Dec.31.

Ma’aden ended the session at SR49.20, up 0.61 percent.

Kingdom Holding Co. has announced the acquisition of an additional stake in xAI, with a total investment of SR 1.5 billion, as part of xAI’s Series C funding round. 

A bourse filing revealed that the transaction comes after KHC’s previous investment of the same amount in xAI during its Series B funding round. 

The move falls in line with KHC’s strategic collaboration with Elon Musk, and also follows its strategic stake in X, formerly known as Twitter, held since 2015. xAI is an artificial intelligence firm established by Elon Musk and a team of top-notch engineers to build AI to further accelerate human scientific discovery as a whole.

KHC ended the session at SR9.35, up 0.88 percent.

Bank Al-Jazira has announced its intention to issue Additional Tier 1 Sukuk under its SR 5 billion Additional Tier 1 Capital Sukuk Issuance Program by way of private placement in Saudi Arabia. 

According to a Tadawul statement, the bank has mandated Al-Jazira Capital, Al-Rajhi Capital and HSBC Saudi Arabia as joint lead managers and dealers for the potential offer. The filing further revealed that the purpose of the offer is to bolster the capital base of the bank, thereby backing its financial and strategic needs.

Bank Al-Jazira ended the session at SR18.64, up 0.21 percent.

Methanol Chemicals Co. has announced the approval of the Ministry of Energy’s request to renew the allocation of the required feedstock to produce several specialized petrochemical products. 

A bourse filing revealed that this follows the company’s Industrial Plot Allocation Agreement with Jubail and Yanbu Industrial Cities Services Co. in the PlasChem Park in Jubail (2) to establish and operate a Choline Chloride and Methyl Diethanolamine Methane plant.

Methanol Chemicals Co. ended the session at SR18.70, down 0.32 percent.

View United Real Estate Development Co. has signed a memorandum of understanding with Watheeq Capital to establish real estate funds to enhance investment opportunities.

According to a Tadawul statement, it will be valid from the date of its signature for one year, and will not be automatically renewed except by a written agreement signed between the two parties.

View United Real Estate Development Co. ended the session at SR68.50, down 0.70 percent.