Bennett meets Sisi on first Egypt visit by Israeli PM in decade

Egyptian President Abdel Fattah El-Sisi with Israeli Prime Minister Naftali Bennett in Sharm El-Sheikh on Monday. (AFP)
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Updated 14 September 2021
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Bennett meets Sisi on first Egypt visit by Israeli PM in decade

  • El-Sisi and Bennett will discuss 'efforts to revive the peace process'
  • First visit to Egypt by an Israeli PM in over a decade

CAIRO: Israel’s Naftali Bennett met Egyptian President Abdel Fattah El-Sisi on Monday, on the first visit to the North African country by a prime minister of the Jewish state in over a decade.
El-Sisi was hosting Bennett in the Red Sea resort of Sharm el-Sheikh to discuss “efforts to revive the peace process” between the Israelis and Palestinians, presidential spokesman Bassam Radi.
Egypt, the Arab world’s most populous country, in 1979 became the first Arab state to sign a peace treaty with Israel, after decades of enmity.
In May, it played a key role in brokering a cease-fire between Israel and the Palestinian Islamist group Hamas that rules the Gaza Strip, after 11 days of deadly fighting.
Egypt regularly receives leaders of Hamas as well as of its political rival the Palestinian Authority led by Mahmud Abbas, while maintaining strong diplomatic, security and economic ties with Israel.
Israel’s Foreign Minister Yair Lapid on Sunday proposed improving living conditions in Gaza and building new infrastructure in exchange for calm from Hamas, aiming to solve the “never-ending rounds of violence.”
But “it won’t happen without the support and involvement of our Egyptian partners and without their ability to talk to everyone involved,” he said.
Bennett’s visit comes about 10 days after Abbas was in Cairo for talks with El-Sisi.
Monday’s talks mark “an important step in light of the growing security and economic relations between the two countries, and their mutual concern over the situation in Gaza,” Cairo-based analyst Nael Shama told AFP.
It also fits with “Egypt’s plans to revive the political talks between Israel and the Palestinian Authority,” he added.
The last meeting between an Egyptian president and an Israeli premier dates back to January 2011 when Hosni Mubarak received Benjamin Netanyahu, weeks before Mubarak was toppled in a popular revolution.
In the political turbulence that followed, relations between the two countries deteriorated as protests were staged outside the Israeli embassy in Cairo in 2011.
The one-year reign of Egypt’s Islamist president Muhammad Mursi from 2012 also proved to be icy, with Israel suspicious of his Muslim Brotherhood’s close ties to Hamas.
El-Sisi has again positioned Egypt as a regional bulwark of stability, echoing the frequent peace summits overseen by Mubarak before his ouster.
Israel and Egypt are two of Washington’s main allies in the Middle East and are the largest recipients of US military aid, and they have worked together on security issues.
El-Sisi, in a 2019 interview on CBS, acknowledged Egypt’s army was working closely with Israel in combating “terrorists” in the restive North Sinai.
He underscored Cairo’s “wide range of cooperation with the Israelis.”
The relationship developed after Egypt regained sovereignty over the Sinai Peninsula, which Israel occupied in the 1967 Six-Day War.
Egyptian forces have for years fought an insurgency in the Sinai, led mainly by a local affiliate of the Daesh group.
The two neighbors have also deepened their ties in the field of energy. Since last year, Egypt has received natural gas from Israel to liquefy it and re-export it to Europe.

Bennett’s visit follows on from a “long working relationship” that El-Sisi maintained with Netanyahu, said Shama, author of a book on Egypt’s foreign policy.
The right-wing religious nationalist Bennett took office in June, ending Netanyahu’s 12 straight years as Israel’s premier.
“Cairo intends once again to signal to the Biden administration its indispensable role in stabilising the Palestinian-Israeli conflict,” Shama said.
Popular sentiment on the ground in Egypt has also toned down from being resolutely hostile toward Israel, amid a more severe crackdown on dissent under El-Sisi.
“El-Sisi has succeeded in taming the opposition and absorbing other political movements,” said Cairo University political science professor Mustapha Kamel Al-Sayyid.
Israel last year signed normalization deals with the United Arab Emirates, Bahrain, Morocco and Sudan under the aegis of Donald Trump’s administration.


Riyad Bank issues SR-denominated Tier 1 sukuk 

Updated 7 min 52 sec ago
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Riyad Bank issues SR-denominated Tier 1 sukuk 

RIYADH: Riyad Bank has commenced the issuance of its additional Tier 1 sukuk under its SR10 billion ($2.66 billion) Additional Tier 1 Capital Sukuk Program via a private placement in the Kingdom. 

In a statement to Tadawul, the lender, one of the largest financial institutions in Saudi Arabia, said that the terms of the offer and the value of the sukuk would be determined based on market conditions. 

The financial institution added that the offering, which commenced on Jan. 7, will run through Jan. 16, with a minimum subscription limit of SR250,000. 

Sukuk, also known as an Islamic bond, is a Shariah-compliant debt product through which investors gain partial ownership of an issuer’s assets until maturity.

According to the statement, the bank has mandated Riyad Capital as the sole lead manager in relation to the offer and issuance of the sukuk.

The financial institution added that it will announce any other relevant material developments in due course. 

The steady issuance of sukuk happening in the Kingdom falls in line with the views shared by Fitch Ratings in a report in October, which said that the distribution of these Islamic bonds is expected to grow in 2025, driven by US Federal Reserve rate cuts. 

According to Fitch, interest rates are expected to be at 3.5 percent in 2025, resulting in a boost in sukuk issuances in the short term. 

In December, Fitch Ratings affirmed Riyad Bank’s long-term issuer default rating at A- with a stable outlook. 

The US-based agency said that the A- rating of the financial institution is attributed to the support it receives from Saudi Arabia’s government. 

The report added that Saudi authorities’ strong ability and willingness to support domestic banks irrespective of size, franchise, funding structure, and level of government ownership also played a crucial role in the strong rating of Riyad Bank. 

According to Fitch, an A- rating denotes expectations of low default risk and a strong ability to pay financial commitments. 

In October, Riyad Bank announced that its net profit for the first nine months of 2024 reached SR7.06 billion, representing a rise of 16 percent compared to the same period of the previous year. 

In December, an analysis by Kamco Invest projected that Saudi Arabia is expected to witness the greatest share of bond and sukuk maturities in the Gulf Cooperation Council region from 2025 to 2029 to reach $168 billion. 


Pakistan PM says UAE has agreed to extend $2 billion debt due this month

Updated 20 min 43 sec ago
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Pakistan PM says UAE has agreed to extend $2 billion debt due this month

  • Shehbaz Sharif met UAE President Sheikh Mohamed bin Zayed Al-Nahyan in southern Punjab on Sunday
  • UAE is Pakistan’s third-largest trading partner and a major source of foreign investment for Islamabad

ISLAMABAD: Prime Minister Shehbaz Sharif told the federal cabinet on Tuesday that the United Arab Emirates (UAE) has agreed to roll over $2 billion in debt for Pakistan due this month, days after he held a one-on-one meeting with the Gulf country’s President Sheikh Mohamed bin Zayed Al-Nahyan.
Sharif met the UAE president in Pakistan’s Rahim Yar Khan city on Sunday where they discussed a wide range of issues such as economic collaboration, regional stability, climate change, and the promotion of mutual interests on the global stage, Sharif’s office had said. 
The UAE has rolled over its $2 billion deposits with Pakistan’s central bank since 2023, helping the South Asian country shore up its foreign exchange reserves, strengthen its currency and secure financial bailouts from the International Monetary Fund (IMF). 
Speaking to members of his cabinet, Sharif told them that during his one-on-one meeting with the UAE president, Al-Nayhan told him that Pakistan’s payment of the $2 billion loan was due in January. 
“So, he said we [UAE] are happy that we are extending it,” Sharif said. “He proposed it himself and I thanked him.”
The Pakistani premier said he had requested Deputy Prime Minister Ishaq Dar to proceed with the UAE in this regard so that Islamabad can “take forward our matters related to investment with them.”
He said the UAE president had also spoken to him about enhancing bilateral ties and investment-related matters between the two countries. 
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).


Palestinian health ministry says 2 killed in Israeli West Bank raids

Updated 23 min 4 sec ago
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Palestinian health ministry says 2 killed in Israeli West Bank raids

  • Israeli troops or settlers have killed at least 820 Palestinians in the West Bank since the start of the war

Ramallah: The Palestinian ministry of health said Israeli forces killed two people on Tuesday in separate raids in the northern West Bank, while the military said it had targeted a “terrorist cell.”
One Palestinian was killed in the town of Tammun, and another in the village of Talouza, the Ramallah-based ministry said.
The Palestinian Red Crescent said its teams had transported the body of an 18-year-old from Tammun who was killed “as a result of shelling,” and that five other people were severely injured during the Israeli raid.
The body was taken to the Turkish Hospital in the nearby city of Tubas, where the director identified the deceased as Suleiman Qutaishat.
The Red Crescent said the other Palestinian was killed in an Israeli raid around the village of Talouza, near Nablus, and was 40 years old.
Residents in the area identified him as Jaafar Dababshe, who they said was shot dead by Israeli forces in front of his house.
The Israeli army when contacted did not offer details, but said on its Telegram channel: “An air force aircraft targeted an armed terrorist cell in the Tammun area” in the early hours of Tuesday.
Violence in the Israeli-occupied West Bank has soared since the war in Gaza erupted on October 7, 2023 after Hamas’ attack on Israel.
Israeli troops or settlers have killed at least 820 Palestinians in the West Bank since the start of the war, according to the Ramallah-based health ministry.
Palestinian attacks on Israelis have also killed at least 28 people in the West Bank in the same period, according to Israeli official figures.
On Monday, three Israelis were killed when gunmen opened fire on a bus and other vehicles in the West Bank, according to medics.
Israel has occupied the West Bank since 1967.


Saudi stars shine at Ivana Chubbuck’s Riyadh workshop

Updated 25 min 25 sec ago
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Saudi stars shine at Ivana Chubbuck’s Riyadh workshop

DUBAI: Saudi actresses Sumaya Rida, Adwa Bader and Mila Al-Zahrani participated in a workshop hosted by the California-based drama school Ivana Chubbuck Studio in Riyadh. 

The workshop is part of the Ministry of Culture and the Film Commission’s Filmmakers Program, which runs until the end of January.

Rida, known for her breakout television roles in “Another Planet” and “Boxing Girls” as well as her big-screen appearances in “Junoon” and “Roll’em” — among the first films to premiere in the Kingdom after cinemas reopened — took to Instagram to share behind-the-scenes moments from the workshop with her colleagues.

Sumaya Rida (right) took to Instagram to share behind-the-scenes moments from the workshop with Mila Al-Zahrani (left) and Adwa Bader (center). Instagram 

She also shared a clip of herself with Zahrani and later posted an Instagram Story featuring both of them, captioning it, “My scene partner.”

Ivana Chubbuck, founder and director of the studio, is a US acting coach and creator of the widely adopted Chubbuck Technique, known for its role in Oscar-winning and nominated performances. 

She heads the drama school in Los Angeles and conducts acting workshops worldwide.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

A post shared by Adwaء Bader (@adwaxox)

Chubbuck has worked with renowned actors such as Charlize Theron, Brad Pitt, Sylvester Stallone, Terrence Howard, James Franco, Jake Gyllenhaal, Elisabeth Shue, Catherine Keener, Halle Berry, and Jared Leto, among others. 

She is also the author of the best-selling book “The Power of the Actor,” published by Penguin Books’ Gotham division, which has been translated into 20 languages.

Chubbuck’s Riyadh workshop was also attended by Saudi actor and comedian Fahad Albutairi, who shared a carousel of images from the event on Instagram. Among the pictures was a signed note from Chubbuck that read: “Fahad, you are so talented and (I) look forward to continuing our journey together.”

The attendees received a certificate of participation after the workshop, which Albutairi also posted on his Instagram.

The Filmmakers Program collaborates with several international film universities and institutes to provide training opportunities and workshops for both amateur and professional filmmakers in the Kingdom.


Review: Palestinian poet Mosab Abu Toha writes against erasure, destruction

Updated 33 min 1 sec ago
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Review: Palestinian poet Mosab Abu Toha writes against erasure, destruction

JEDDAH: “Every child in Gaza is me,” writes Palestinian poet Mosab Abu Toha in the creed-like opening of “Forest of Noise,” setting the tone for the poems to come and establishing his profound connection to his people and Palestine.

The poems within the slim but impactful volume by the Palestine Book Award-winning poet blend personal narratives with the broader documentation of life under Israeli occupation, siege, and bombardment in Gaza.

Released amidst one of the most turbulent periods in recent Palestinian history, Abu Toha uses the art form to not only capture personal memory, but to document Israel’s atrocities committed against Palestinians and the resilience of the people living in a continuous state of emergency.

Written in clear, simple language that often evokes visceral, painful imagery, his poetry oscillates between moments of loss, destruction, and survival, and glimpses of peace that seem fantastical in their rarity.

In “Palestinian Village,” Abu Toha imagines a peaceful scene “where a canary never tires of singing” that feels like a distant memory or a dream in stark contrast to the harrowing reality on the ground. The poem, like others in the collection, is a reminder of the cultural and natural heritage that Palestinians are fighting to preserve amid what Amnesty International, as well as some regional states, have termed a genocide.

In “On Your Knees” he powerfully uses repetition of the line “on your knees!” to document the humiliating and horrifying experience of being abducted by Israeli forces as he attempted to cross the Rafah border with his family in November 2023.

Abu Toha resists physical subjugation with poetry as a form of resistance and memory — asserting the Palestinian self and narrative and highlighting the power of art to fight back against erasure.

In “After Allen Ginsberg,” the Palestinian poet draws from the American’s iconic work “Howl,” writing:

“I saw the best brains of my generation

protruding from their slashed heads.”

By adopting Ginsberg's confrontational style, Abu Toha’s unrestrained voice laments and protests Israel's ongoing assault that has claimed the lives of thousands of children, women, and men. 

The poet’s unwavering voice in “Forest of Noise” challenges readers to see Gaza not as a distant conflict but as a human tragedy that demands attention.