JERUSALEM: Israeli police arrested the Palestinian minister for Jerusalem affairs early Friday for allegedly violating an Israeli ban on Palestinian political activities in east Jerusalem.
Fadi Al-Hidmi was arrested at his home near the Mount of Olives. His office circulated surveillance camera footage showing police searching his home with dogs. It said they confiscated 10,000 shekels (around $2,750). It was the fourth time he has been arrested.
Israel captured east Jerusalem in the 1967 war and annexed it in a move not recognized internationally. The Palestinians want east Jerusalem to be the capital of their future state. Israel views the entire city as its capital.
Israel bars the Palestinian Authority, which governs parts of the occupied West Bank, from operating in east Jerusalem or carrying out any political activities there.
Palestinian officials said Al-Hidmi was working to assist residents as part of their response to the coronavirus pandemic.
“Israel targets (those) who work for Jerusalem, even at such critical moments as we work to save our people’s lives from COVID19,” Prime Minister Mohammad Shtayyeh tweeted, referring to the illness caused by the virus. “We demand his immediate release.”
Israeli police spokesman Micky Rosenfeld said Al-Hidmi was arrested “on suspicions of Palestinian activities in Jerusalem.” He said police searched the home and confiscated documents as well as “large sums of money.”
He said the arrest was not connected to any efforts to combat the pandemic.
Israel has reported more than 7,000 cases and at least 36 deaths. The Palestinian Authority has reported 143 cases and one death in the territories it administers in the West Bank. Both have imposed sweeping lockdowns to try and slow the spread of the virus.
The virus causes mild to moderate symptoms in most patients, who recover within a few weeks. But it is highly contagious and can cause severe illness or death, particularly in older patients or those with underlying health problems.
Israel arrests Palestinian official in east Jerusalem
https://arab.news/yse7j
Israel arrests Palestinian official in east Jerusalem
- Palestinian officials said Al-Hidmi was working to assist residents as part of their response to the coronavirus pandemic
- Israel bars the Palestinian Authority, which governs parts of the occupied West Bank, from operating in east Jerusalem or carrying out any political activities there
Saudi public funds boost domestic money market holdings to $11bn
RIYADH: Saudi Arabia’s public funds ramped up their domestic money market investments to SR41.38 billion ($11.03 billion) in the third quarter of 2024, marking an 82.4 percent year-on-year increase, according to official data.
Figures from the Saudi Central Bank, also known as SAMA, showed that the total value of assets held by these organizations rose to SR160.1 billion during the three months to the end of September, marking a 36.7 percent increase compared to the previous year.
The number of operating funds grew by 9.54 percent during this period, reaching a total of 310, while the number of subscribers rose by 50.65 percent, reaching 1.57 million.
Domestic holdings saw the highest growth rate at 41.8 percent, comprising 84 percent of the total portfolio, or SR134.43 billion.
Other assets included 25.83 percent in shares, totaling SR41.24 billion, and 7.24 percent in sukuk and bonds, amounting to SR11.58 billion.
Real estate investments, valued at SR27.6 billion and accounting for 17.24 percent of the portfolio, are also considered domestic, according to SAMA.
Foreign allocations totaled SR25.66 billion, reflecting a 16 percent annual increase, and were spread across foreign shares, bonds, money market instruments, and other assets.
As Saudi Arabia’s economy continues to expand under the Vision 2030 initiative, the banking sector has seen a notable increase in loan growth, outpacing the rise in deposits.
This trend reflects the growing demand for credit, driven by the Kingdom’s ongoing infrastructure projects, real estate developments, and rising consumer spending.
In this context, Saudi investment funds are increasing their allocations to money market instruments, such as short-term government securities, which provide liquid, low-risk options for capital. This helps banks manage short-term liquidity needs while limiting exposure to significant market risks.
This investment trend not only supports the broader stability of the banking sector but also aligns with the Kingdom’s economic growth, ensuring that financial institutions can meet the rising demand for credit while safeguarding their liquidity positions.
The funds include both open-ended and closed-ended types, which are open to public investment and overseen by regulatory bodies like the Capital Market Authority.
The Saudi Public Investment Fund operates separately, focusing on long-term, strategic investments aligned with Saudi Vision 2030, and is not included in SAMA’s data.
According to SAMA, approximately 92 percent of active funds are open-ended, with assets totaling SR128.71 billion, while the remaining 8 percent are closed-ended, holding assets of SR31.38 billion.
Red Cross urges unhindered aid access to flood-hit and freezing Gaza
- IFRC highlighted the deaths of eight newborn babies who had been living in tents without warmth or protection from rain
Geneva: The Red Cross called Wednesday for safe and unhindered access to Gaza to bring desperately needed aid into the war-torn Palestinian territory wracked by hunger and where babies are freezing to death.
Heavy rain and flooding have ravaged the makeshift shelters in Gaza, leaving thousands with up to 30 centimeters of water inside their damaged tents, the International Federation of Red Cross and Red Crescent Societies said.
The dire weather conditions were “exacerbating the unbearable conditions” in Gaza, it said, pointing out that many families were left “clinging on to survival in makeshift camps, without even the most basic necessities, such as blankets.”
Citing the United Nations, the IFRC highlighted the deaths of eight newborn babies who had been living in tents without warmth or protection from the rain and falling temperatures.
Those deaths “underscore the critical severity of the humanitarian crisis there,” IFRC Secretary-General Jagan Chapagain said in a statement.
“I urgently reiterate my call to grant safe and unhindered access to humanitarians to let them provide life-saving assistance,” he said.
“Without safe access — children will freeze to death. Without safe access — families will starve. Without safe access — humanitarian workers can’t save lives.”
Chapagain issued an “urgent plea to all the parties... to put an end to this human suffering. Now.”
The IFRC said the Palestine Red Crescent Society (PRCS) was striving to provide emergency health services and supplies to people in Gaza, with an extra sense of urgency during the cold winter months.
But it warned that “the lack of aid deliveries and access is making providing adequate support all but impossible.”
It also lamented the “continuing attacks on health facilities across the Gaza Strip,” which it said meant people were unable to access the treatment they need.
“In the north of Gaza, there are now no functioning hospitals,” it said.
The IFRC stressed that the closure of the main Rafah border crossing last May had had a dramatic impact on the humanitarian situation, warning that “only a trickle of aid is currently entering Gaza.”
Saudi authority expands effort to track food waste
RIYADH: The General Food Security Authority has launched a second field survey to measure food loss and waste rates in Saudi Arabia.
The initiative is part of the National Program to Reduce Food Loss and Waste and aligns with efforts to promote food sustainability and support Vision 2030 objectives, the Saudi Press Agency reported.
The authority’s governor, Ahmed Al-Faris, said that the second survey builds on the 2019 study, which established a baseline for the Food Loss and Waste Index.
The effort follows successful awareness campaigns in collaboration with key stakeholders that engaged public participation, the SPA added.
The new survey aims to analyze food loss and waste at all stages of the food supply chain, including production, importation, transportation, storage, distribution and consumption.
The authority will use the findings to develop solutions to improve food security, reduce environmental and economic impacts, and align the Kingdom’s practices with global sustainability standards.
This initiative is expected to provide more precise, updated data to create targeted strategies for reducing food loss and waste.
New deal will protect Kingdom’s national heritage
RIYADH: Saudi Arabia’s Public Prosecution and the Heritage Commission have signed a memorandum of understanding to strengthen their collaborative efforts when it comes to protecting and preserving the Kingdom’s identity.
The MoU includes exchanging information on protecting national heritage and combating violations of archaeological sites, reported the Saudi Press Agency on Wednesday.
The deal was signed by Turki Al-Dosari, assistant public prosecutor for investigation, and Jasser Al-Harbash, commission CEO, in the presence of officials and experts in the heritage sector and cultural property protection.
It also involves organizing awareness programs to educate the community about the importance of heritage preservation and the penalties for related offenses.
The partnership marks a strategic step toward establishing a comprehensive framework for protecting heritage sites. It seeks to enhance the Kingdom’s global status as a cultural heritage destination and reinforce its leadership in preserving national identity and history.
Saudi Arabia’s M&A approvals surge 17.4% to reach record high
RIYADH: Saudi Arabia saw a 17.4 percent surge in mergers and acquisitions approvals in 2024, reflecting the Kingdom’s efforts to strengthen its competitive business environment.
The General Authority for Competition approved 202 economic concentration requests — the highest number in its history — with 10 additional applications still under review, according to its annual report.
Economic concentration approvals are required for mergers and acquisitions to ensure they do not create monopolies or disrupt market competition.
The surge in approvals aligns with GAC’s goal of implementing competition-enhancing policies, combating illegal monopolistic practices, and improving market performance to boost consumer and business confidence, attract investment, and promote sustainable development.
Saudi Arabia’s surging mergers and acquisitions market comes against a global backdrop of decline in the industry, with a GlobalData report released in December showing worldwide deal volume dropped 8.7 percent year-on-year in the first 11 months of 2024 — with the Middle East and Africa region seeing a relatively modest 5 percent decline.
Acquisition deals dominated approvals in the Kingdom at 81 percent, followed by joint ventures at 15 percent, and mergers at just 2 percent, the report showed.
The manufacturing sector led in activity, accounting for 67 of the approved requests, followed by the information and communications sector with 39, and wholesale and retail trade, along with motor vehicle and motorcycle repairs, with 22.
Foreign companies also showed significant interest in the manufacturing sector, which claimed 28 percent of their concentration requests, followed by information and communications at 17 percent, and wholesale and retail trade at 15 percent.
GAC noted a growing diversity in market activity, with requests received in emerging sectors like off-road tires, nicotine replacement therapy manufacturing, and industrial protective coatings.
The Kingdom led the Middle East in mergers and acquisitions in the chemicals sector during the first quarter of 2024, closing deals worth $500 million.
Additionally, the authority approved four new car agency registrations during the year and analyzed 53 percent of concentration requests based on horizontal relationships between entities operating within the same sector. Vertical and cluster relationships accounted for 16 percent and 31 percent of reviews, respectively.
The surge in approvals aligns with Vision 2030, which aims to create a business-friendly environment that attracts foreign investment and supports sectoral growth.
As Saudi Arabia strengthens its regulatory and economic frameworks, the surge in merger approvals reflects its ambition to establish itself as a regional hub for business and investment.
