Arriving in cars, rickshaws and even ambulances, patients desperate for oxygen as record Covid-19 infections spark severe shortages in hospitals are flocking to a tent outside a gurdwara - a Sikh place of worship — on the outskirts of Delhi.
Israeli army says killed two Palestinian militants in West Bank
- The Ramallah-based Palestinian health ministry said Israeli authorities had informed it of the deaths of Nazzal, 25, and Shalabi, 30
Ramallah: The Israeli military said Thursday it killed two Palestinian militants overnight near the occupied West Bank city of Jenin, where a large-scale raid is underway, accusing them of murdering three Israelis.
In a statement, the military said that Israeli forces found the two militants barricaded in a house in the village of Burqin.
“After an exchange of fire, they were eliminated by the forces,” it said, adding one soldier was injured in the exchange.
The military identified those killed as Mohammed Nazzal and Qutaiba Shalabi, accusing them of being “affiliated with Islamic Jihad” and responsible for a deadly shooting on an Israeli bus in early January.
The Ramallah-based Palestinian health ministry said Israeli authorities had informed it of the deaths of Nazzal, 25, and Shalabi, 30.
“The bodies are being withheld” by the army, it added in a statement.
Three Israelis were killed and six injured in a January 6 attack near the village of Al-Funduq, also in the West Bank.
Israel’s Defense Minister Israel Katz said at the time he had directed the military to “act with force” to find the attackers, vowing on X that “anyone who... enables or supports the murder and harm of Jews will pay a heavy price.”
The night that followed the attack saw several instances of violent altercations with settlers in that part of the West Bank, including in the village of Hajja, whose mayor told AFP it had come under attack.
Violence has surged throughout the occupied West Bank since the Gaza war erupted on October 7, 2023.
According to the Palestinian health ministry, Israeli troops or settlers have killed at least 850 Palestinians in the West Bank since the conflict began.
During the same period, at least 29 Israelis, including soldiers, have been killed in Palestinian attacks or Israeli military operations in the territory, according to Israeli official figures.
PIF launches $4bn 2-part bond
RIYADH: Saudi Arabia’s Public Investment Fund has launched a $4 billion two-part bond, Arab News has been told.
The sovereign wealth fund confirmed that it had sold $2.4 billion of five-year debt instruments at 95 basis points over US Treasuries and $1.6 billion of nine-year securities at 110 basis points over the same benchmark.
The move comes just weeks after PIF closed its first Murabaha credit facility, securing $7 billion in funding, in what was a key step in the fund's plan to raise capital over the next several years.
PIF manages $925 billion in assets, and is set to increase that to $2 trillion by 2030, a report from monitoring organization Global SWF forecast earlier in January.
Qatar drafting new laws aimed at boosting foreign investment
- Qatar plans new bankruptcy, PPP, and commercial registration laws
- Qatar aims for $100 billion FDI by 2030
DOHA: Qatar plans to introduce three new laws as part of a sweeping review of legislation designed to make the Gulf Arab state more attractive to foreign investors, the new minister of commerce and economy told Reuters.
Sheikh Faisal bin Thani said in an interview that Qatar plans to introduce new legislation including a bankruptcy law, a public private partnership law and a new commercial registration law.
“We’re looking at 27 laws and regulations across 17 government ministries that affect 500-plus activities,” he said, describing the legislative review.
Sheikh Faisal said he expects the new bankruptcy and public private partnership laws to be drafted before the end of March.
Qatar, one of the world’s top exporters of liquefied natural gas, has set a cumulative target of attracting $100 billion in foreign direct investment (FDI) by 2030, according to the latest version of its national development strategy published last year.
But it has a long way to go to meet that target, and FDI inflows have significantly lagged behind neighboring Saudi Arabia and the U.A.E.
Saudi Arabia, which also has a target to attract $100 billion in FDI by 2030 as part of its national investment strategy, saw FDI inflows of $26 billion in 2023, after a change to how it calculates FDI, while the Emirates, the Gulf region’s commercial and tourism hub, attracted just over $30 billion according to the UN’s trade and development agency.
In contrast, Qatar’s FDI inflows in 2023 were negative $474 million, down from $76.1 million in 2022. Negative FDI inflows indicate that disinvestment was more than new investment.
While Qatar does offer similar incentives to foreign investors as its neighbors, such as a favorable tax environment, free zone facilities and some long term residency schemes, the U.A.E. and Saudi Arabia are considered far ahead in terms of regulatory reforms and business friendly laws.
Qatar’s new laws also come as part of the Gulf Arab state’s efforts to activate its private sector and transition away from government-funded growth.
Sheikh Faisal joined the government in November after serving at Qatar’s $510 billion sovereign wealth fund, the Qatar Investment Authority, most recently as chief investment officer for Asia and Africa.
NATO allies must pay ‘fair share’ before adding members: US envoy
- NATO allies must pay their “fair share” on defense before considering enlarging the alliance, a US presidential envoy said Thursday, as NATO’s chief said members will need to ramp up defense spending
DAVOS: NATO allies must pay their “fair share” on defense before considering enlarging the alliance, a US presidential envoy said Thursday, as NATO’s chief said members will need to ramp up defense spending.
“You cannot ask the American people to expand the umbrella of NATO when the current members aren’t paying their fair share, and that includes the Dutch who need to step up,” US envoy Richard Grenell said by video link at an event on the sidelines of the World Economic Forum in response to NATO chief Mark Rutte, the former Dutch prime minister.
“We have collectively to move up and we will decide on the exact number later this year, but it will be considerably more than two (percent),” Rutte said, referring to the alliance’s target of defense spending of two percent of GDP.
Saudi Arabia’s non-oil exports surge 19.7%: GASTAT
RIYADH: Saudi Arabia’s non-oil exports surged 19.7 percent year on year in November to reach SR26.92 billion ($7.18 billion), bolstering the Kingdom’s efforts to diversify its economy.
According to the General Authority for Statistics, chemical products led the growth, accounting for 24 percent of total non-oil exports, followed by plastic and rubber products, which made up 21.7 percent of shipments.
Building a robust non-oil sector is a key goal of Saudi Arabia’s Vision 2030 program, which seeks to transform the Kingdom’s economy and reduce its reliance on oil revenues, with Minister of Economy and Planning Faisal Al-Ibrahim revealing in November that these activities now constitute 52 percent of the gross domestic product.
In its latest report, GASTAT said: “The ratio of non-oil exports (including re-exports) to imports increased to 36.6 percent in November 2024 from 34.8 percent in November 2023. This was due to a 19.7 percent increase in non-oil exports and a 13.9 percent increase in imports over that period.”
The Kingdom’s total merchandise exports fell 4.7 percent year on year in November, weighed down by a 12 percent drop in oil exports. This decline reduced the share of oil exports in total shipments to 70.3 percent, down from 76.3 percent a year earlier, signaling progress in Saudi Arabia’s economic diversification.
GASTAT reported that China remained Saudi Arabia’s largest trading partner in November, with exports to the Asian nation totaling SR13.53 billion.
Other key destinations for exports included Japan with SR8.93 billion, the UAE with SR8.75 billion, and India with SR8.74 billion.
Saudi Arabia’s imports rose 13.9 percent year on year in November, reaching SR73.65 billion. However, the merchandise trade surplus declined by 44.3 percent during the same period, falling to SR16.89 billion.
China remained the dominant supplier of goods to the Kingdom, accounting for SR20.11 billion of imports, followed by the US at SR7.52 billion and the UAE at SR3.90 billion.
King Abdulaziz Sea Port in Dammam emerged as the top entry point for imports, handling goods valued at SR18.19 billion, representing 24.7 percent of total inbound shipments.
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