Saudi Arabia’s Public Investment Fund launches electric vehicle infrastructure company

PIF said on Sunday that it has partnered with SEC to launch an electric vehicle infrastructure company. (PIF)
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Updated 08 October 2023
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Saudi Arabia’s Public Investment Fund launches electric vehicle infrastructure company

  • Company plans to establish its presence in more than 1,000 locations, installing over 5,000 fast chargers across Saudi Arabia by 2030

RIYADH: Saudi Arabia’s Public Investment Fund said on Sunday that it has partnered with the Saudi Electricity Company (SEC) to launch an electric vehicle infrastructure company.
“PIF will own a 75 percent stake in the Company, while SEC will hold the remaining 25 percent stake,” the soveriegn wealth fund said in a statement.

The company aims to deliver the best electric vehicle fast-charging infrastructure across Saudi Arabia, further unlocking the local automotive ecosystem and accelerating the adoption of electric vehicles.

It plans to establish a presence in more than 1,000 locations, installing over 5,000 fast chargers by 2030 in cities across the Kingdom and on the roads that connect them, in line with applicable regulations and standards.

It aims to enhance Saudi Arabia’s automotive ecosystem, through collaboration with electric vehicle companies, by supplying the necessary charging stations to meet future demand.

It also aims to promote private sector participation in the development of its network of charging stations and support the localization of research,development, and manufacturing of technologically advanced materials, ultimately building domestic expertise and resilience.

The co-Head of MENA Direct Investments at PIF, Omar Al-Madhi, said: “The Electric Vehicle Infrastructure Company will spearhead the EV transition by deploying best-in-class, widely available EV charging infrastructure to drive the growth of the EV ecosystem. 

Through our partnership with SEC, we will be able to accelerate the creation of synergies across the EV supply chain, driving economic growth and diversification in line with Vision 2030, and positioning Saudi Arabia as a leader in the new electrified era of the automotive industry.” 

The chief executive officer at SEC, Khalid bin Hamad Al-Gnoon, said: “SEC, as part of the nation’s wider energy ecosystem, develops and implements strategies that aim to enhance Saudi Arabia’s position as a sustainable energy leader, in line with the Kingdom’s efforts to promote advanced energy solutions and increase the value added by the energy sector.”

The launch of the company is in line with PIF’s strategy to expand Saudi Arabia’s automotive capabilities to promote the country’s competitiveness on the world stage, and position it as a global leader.

It will aim to further Saudi Arabia’s economic diversification efforts, driving non-oil GDP growth and creating new jobs.  


UN rights chief says transitional justice ‘crucial’ in Syria

Updated 2 min 9 sec ago
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UN rights chief says transitional justice ‘crucial’ in Syria

  • “The enforced disappearances, the torture, the use of chemical weapons, among other atrocity crimes, must be fully investigated,” Turk said
  • “And then justice must be served, fairly and impartially”

DAMASCUS: United Nations rights chief Volker Turk on Wednesday said transitional justice was “crucial” for Syria after the fall of Bashar Assad, during the first-ever visit by someone in his post to the country.
“Transitional justice is crucial as Syria moves forward,” the UN high commissioner for human rights said.
“Revenge and vengeance are never the answer.”
The United Nations has said Assad’s fall must be followed by accountability for him and others behind the crimes committed during his rule.
“The enforced disappearances, the torture, the use of chemical weapons, among other atrocity crimes, must be fully investigated,” Turk said, alluding notably to accusations Assad used sarin gas against his own people.
“And then justice must be served, fairly and impartially,” he said at a press conference in Damascus.
Since Islamist-led rebels seized Damascus last month, the new authorities have sought to reassure Syrians and the international community that they will respect the rights of minorities in rebuilding the country.
Turk said that, during his visit, he and the country’s new leader Ahmed Sharaa had discussed “the opportunities and challenges awaiting this new Syria.”
“He acknowledged and assured me of the importance of respect for human rights for all Syrians and all different components of Syrian society,” Turk said.
He said Sharaa also backed “the pursuit of healing, trust building and social cohesion and the reform of institutions.”
Turk also called for an easing of certain sanctions imposed on Syria under Assad’s rule.
“I... call for an urgent reconsideration of... sanctions with a view to lifting them,” he said, that they had had “a negative impact on the enjoyment of rights” of Syrian people.
Turk said he had visited Syria’s notorious Saydnaya prison and met with a former detainee, “a former soldier suspected of being a defector.”
“He told me of the cruel treatment he endured. I cannot even bear to share the stories of beatings and torture that he shared with me,” he said.


South Korean investigators arrest President Yoon in insurrection probe

Updated 9 min 12 sec ago
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South Korean investigators arrest President Yoon in insurrection probe

  • Yoon is the first sitting president in South Korean history to be arrested
  • His last month’s short-lived martial law order plunged the country into turmoil

SEOUL: South Korean authorities arrested President Yoon Suk-yeol on Wednesday over accusations of insurrection following his briefly imposed martial law.
The arrest ended a standoff between investigators and Yoon’s presidential security team, which had prevented his detention earlier this month.
The Corruption Investigation Office announced it had “executed an arrest warrant for President Yoon Suk-yeol today at 10:33 am,” after which he was seen stepping out of the car wearing a white shirt and suit as he slipped through the CIO’s back entrance for high-ranking officials.
“I decided to answer to the CIO’s investigations in order to prevent unsavory bloodshed,” Yoon said in a pre-recorded video statement released by his lawyers following the arrest.
“That does not mean I recognize the CIO’s investigation as legitimate.”
The CIO is leading a joint probe — together with military investigators and police — to probe allegations against Yoon.
He is charged with insurrection and will be held at the Seoul Detention Center. Authorities now have 48 hours to question the president and seek a warrant to detain him for up to 20 days.
The probe coincides with Yoon’s impeachment trial at the Constitutional Court. The trial began on Tuesday but hearings were adjourned minutes after it started due to Yoon’s absence.
The trial follows the National Assembly’s vote on Dec. 14 to impeach Yoon over the imposition of martial law on Dec. 3 — a move that lawmakers swiftly overturned hours after it was announced.
Yoon is the first sitting president in South Korean history to be arrested.
The CIO’s legitimacy in investigating Yoon has come under scrutiny as the president and his lawyers argue that it lacks the legal authority to investigate insurrection charges.
“The CIO does not have the right to investigate insurrection charges ... we strongly urge them to follow due legal processes,” Yoon’s lawyer and friend of 40-years, Seok Dong-hyun, said in a press conference after the president was taken into custody.
But Prof. Hong Young-ki from the Korea University School of Law told Arab News it was a matter of interpreting the law, “but the court has already confirmed the legitimacy” by approving the arrest warrant.
“The court already recognized the CIO’s jurisdiction when it issued the arrest warrant. Then who can go against the court and say that the CIO is illegitimate? How can a third party do it?” he said.
“The president wants to say that, but how can someone who was merely a prosecutor say his interpretation is more correct than that of the court? I don’t really think his argument has that much persuasive power.”
Claiming that the CIO’s investigation was illegitimate, Yoon was trying to evade arrest also during the eventually successful second attempt, which started at 4:10 a.m., with 3,000 officers surrounding his hillside house.
Buses and barbed wire were set up on the road leading to Yoon’s residence to prevent entry, while lawmakers from the president’s ruling People’s Power Party gathered at the site, tried to block the authorities, and shouted that “South Korea’s rule of law has collapsed” and that the “constitution has been destroyed.”
The opposition Democratic Party welcomed the arrest.
“A bit late, but it shows that South Korea’s governmental authority and justice is still alive,” floor leader Park Chan-dae said in a briefing.
“(Yoon’s arrest) is the first step in restoring liberal democracy and realizing the rule of law.”


WEF: War, disinformation, and climate dominate global threats in 2025

Updated 13 min 3 sec ago
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WEF: War, disinformation, and climate dominate global threats in 2025

  • More than 900 global leaders highlight escalating geopolitical tensions, environmental crises and misinformation as critical issues shaping the year ahead
  • Davos to begin Jan. 20 amid fragmented global order marked by growing power rivalries, weakened multilateralism

LONDON: Escalating wars, rising disinformation, and intensifying climate challenges rank as the most pressing global threats for 2025, according to the World Economic Forum’s Global Risk Report, released Wednesday ahead of the Davos annual meeting.

Based on insights from 900 global leaders in business, politics and academia, the report highlights escalating geopolitical tensions, environmental crises and misinformation as critical issues shaping the year ahead.

“Rising geopolitical tensions, a fracturing of global trust and the climate crisis are straining the global system like never before,” said Mirek Dusek, WEF managing director.

“In a world marked by deepening divides and cascading risks, global leaders have a choice: To foster collaboration and resilience, or face compounding instability. The stakes have never been higher.”

State-based armed conflicts are flagged as the most immediate concern for 23 percent of respondents, with wars in the Middle East, Sudan and Ukraine driving global instability.

The forum will host a historic gathering of Middle Eastern leaders, including representatives from Iran, Syria, Yemen and Gulf countries, to discuss prospects for peace amid hopes of a ceasefire between Hamas and Israel after 15 months of devastating war that has killed tens of thousands of Palestinians.

Donald Trump, set to be sworn in as the 47th US president on Jan. 20, has vowed to end the war in Ukraine. He will deliver a virtual address to the forum on Jan. 23. Ukrainian President Volodymyr Zelensky will also attend and deliver a speech on Jan. 21.

“From conflicts to climate change, we are facing interconnected crises that demand coordinated, collective action,” said Mark Elsner, WEF’s head of the Global Risks Initiative, who urged world leaders to make “renewed efforts to rebuild trust and foster cooperation.” 

While conflicts rank as the most immediate threat, the survey highlights the climate crisis as the dominant risk of the next decade. Environmental risks — including extreme weather, biodiversity loss and critical changes to Earth’s systems — account for three of the top four long-term global concerns.

In 2024, global warming hit a record 1.54 degrees Celsius above pre-industrial levels, triggering catastrophic weather events, such as the Los Angeles wildfires, devastating floods in Spain caused by the DANA weather phenomenon and unprecedented rainfall across the Middle East, which triggered floods in the Arabian Peninsula and Sahara Desert for the first time in half a century.

“The climate and nature crisis requires urgent attention and action,” said Gim Huay Neo, the WEF’s managing director for the Center for Nature and Climate.

Two technology-related concerns ranked next on the list of global threats: “Misinformation and disinformation” and the “adverse outcomes of AI technologies.”

The survey, conducted between September and October, noted rising anxieties about misinformation. These concerns have intensified following Donald Trump’s election victory and his alignment with tech leaders like Elon Musk and Mark Zuckerberg, who are reportedly advocating for deregulation policies expected to benefit the tech industry.

It coincides with Zuckerberg’s recent decision to scale back fact-checking and content moderation across Meta’s platforms, a move widely criticized by experts as an appeasement of Trump, whose return to the White House will overlap with the forum’s opening.

Organizers are expecting 60 heads of state and government to attend, alongside chief executives and campaigners. Several ministers and business leaders from Saudi Arabia are also expected to take part.

The WEF’s report found that 64 percent of experts foresee a fragmented global order dominated by competition among middle and great powers, with multilateralism under significant strain.

Against this backdrop, the forum’s theme, “A Call for Collaboration in the Intelligent Age,” highlights the need for renewed cooperation, even as Trump’s anticipated policy shifts could undermine collective efforts on critical global issues, including the climate crisis.


South Korean investigators question President Yoon in insurrection probe

Updated 10 min 40 sec ago
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South Korean investigators question President Yoon in insurrection probe

  • Yoon is the first sitting president in South Korean history to be arrested
  • His last month’s short-lived martial law order plunged the country into turmoil

Seoul: South Korean investigators began questioning President Yoon Suk-yeol on Wednesday after arresting him over accusations of insurrection following his briefly imposed martial law.

The arrest ended a standoff between investigators and Yoon’s presidential security team, which had prevented his detention earlier this month.

The Corruption Investigation Office announced it had “executed an arrest warrant for President Yoon Suk-yeol today at 10:33 am,” after which he was seen stepping out of the car wearing a white shirt and suit as he slipped through the CIO’s back entrance for high-ranking officials.

“I decided to answer to the CIO’s investigations in order to prevent unsavory bloodshed,” Yoon said in a pre-recorded video statement released by his lawyers following the arrest.

“That does not mean I recognize the CIO’s investigation as legitimate.”

The CIO is leading a joint probe — together with military investigators and police — to probe allegations against Yoon.

He is charged with insurrection and will be held at the Seoul Detention Center. Authorities now have 48 hours to question the president and seek a warrant to detain him for up to 20 days.

The probe coincides with Yoon’s impeachment trial at the Constitutional Court. The trial began on Tuesday, but hearings were adjourned minutes after it started due to Yoon’s absence.

The trial follows the National Assembly’s vote on Dec. 14 to impeach Yoon over the imposition of martial law on Dec. 3 — a move that lawmakers swiftly overturned hours after it was announced.

Yoon is the first sitting president in South Korean history to be arrested.

The CIO’s legitimacy in investigating Yoon has come under scrutiny as the president and his lawyers argue that it lacks the legal authority to investigate insurrection charges.

“The CIO does not have the right to investigate insurrection charges ... We strongly urge them to follow due legal processes,” Yoon’s lawyer and friend of 40 years, Seok Dong-hyun, said in a press conference after the president was taken into custody.

Prof. Hong Young-ki from the Korea University School of Law told Arab News it was a matter of interpreting the law, “but the court has already confirmed the legitimacy” by approving the arrest warrant.

“The court already recognized the CIO’s jurisdiction when it issued the arrest warrant. Then who can go against the court and say that the CIO is illegitimate? How can a third party do it?” he said.

“The president wants to say that, but how can someone who was merely a prosecutor say his interpretation is more correct than that of the court? I don’t really think his argument has that much persuasive power.”

Claiming that the CIO’s investigation was illegitimate, Yoon tried to evade arrest also during the eventually successful second attempt, which started at 4:10 a.m., with 3,000 officers surrounding his hillside house.

Buses and barbed wire were set up on the road leading to Yoon’s residence to prevent entry, while lawmakers from the president’s ruling People’s Power Party gathered at the site, tried to block the authorities, and shouted that “South Korea’s rule of law has collapsed” and that the “constitution has been destroyed.”

The opposition Democratic Party welcomed the arrest.

“A bit late, but it shows that South Korea’s governmental authority and justice is still alive,” floor leader Park Chan-dae said in a briefing.

“(Yoon’s arrest) is the first step in restoring liberal democracy and realizing the rule of law.”


Negotiators resume talks on final details of Gaza ceasefire deal

Mourners react as they carry the body of a Palestinian infant killed in an Israeli strike, at Al-Aqsa Martyrs hospital, in Gaza.
Updated 10 min 8 sec ago
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Negotiators resume talks on final details of Gaza ceasefire deal

  • Despite efforts to reach ceasefire, the Israeli military, Shin Bet internal intelligence agency and air force attacked 50 targets throughout Gaza over last 24 hours

DOHA/CAIRO/JERUSALEM: Negotiators in Qatar resumed talks on Wednesday hoping to hammer out the final details of a complex, phased ceasefire in Gaza aiming to end a conflict that has inflicted widespread death and destruction and upended the Middle East.
Officials from mediators Qatar, Egypt and the US as well as Israel and Hamas said on Tuesday that an agreement for a truce in the besieged Palestinian enclave and the release of hostages was closer than ever.
But a senior Hamas official told Reuters late on Tuesday that the Palestinian group had not yet delivered its response because it was still waiting for Israel to submit maps showing how its forces would withdraw from Gaza.
During months of on-off talks to achieve a truce in the devastating 15-month-old war, both sides have previously said they were close to a ceasefire only to hit last-minute obstacles. The broad outlines of the current deal have been in place since mid-2024.
If successful, the planned phased ceasefire could halt fighting that has decimated Gaza, killed tens of thousands of Palestinians, displaced most of the enclave’s pre-war population of 2.3 million and is still killing dozens of people a day.
That in turn could ease tensions across the wider Middle East, where the war has fueled conflict in the occupied West Bank, Lebanon, Syria, Yemen and Iraq, and raised fears of all-out war between Israel and Iran.
Israel launched its assault in Gaza after Hamas-led fighters stormed across its borders on Oct. 7, 2023, killing 1,200 people and taking more than 250 hostages, according to Israeli tallies.
Since then, Israeli forces have killed more than 46,700 Palestinians in Gaza, according to health officials in the enclave.
Palestinians were once again hoping the latest talks would deliver some relief from Israeli air strikes, and ease a deep humanitarian crisis.
“We are waiting for the ceasefire and the truce. May God complete it for us in goodness, bless us with peace, and allow us to return to our homes,” said Amal Saleh, 54, a Gazan displaced by the war.
“Even if the schools are bombed, destroyed, and ruined, we just want to know that we are finally living in peace.”
Under the plan, Israel would recover around 100 remaining hostages and bodies from among those captured in the Oct. 7, 2023, Hamas-led attacks on southern Israel that precipitated the war. In return it would free Palestinian detainees.
The latest draft is complicated and sensitive. Under its terms, the first steps would feature a six-week initial ceasefire.
The plan also includes a gradual withdrawal of Israeli forces from central Gaza and the return of displaced Palestinians to the north of the enclave.
The deal would also require Hamas to release 33 Israeli hostages along with other steps.
The draft stipulates negotiations over a second phase of the agreement to begin by the 16th day of phase one. Phase two includes the release of all remaining hostages, a permanent ceasefire and the complete withdrawal of Israeli soldiers.
Even if the warring sides agree to the deal on the table, that agreement still needs further negotiation before there is a final ceasefire and the release of all the hostages
If it all goes smoothly, the Palestinians, Arab states and Israel still need to agree on a vision for post-war Gaza, a massive task involving security guarantees for Israel and billions of dollars in investment for rebuilding.
One unanswered question is who will run Gaza after the war.
Israel has rejected any involvement by Hamas, which ran Gaza before the war, but it has been almost equally opposed to rule by the Palestinian Authority, the body set up under the Oslo interim peace accords three decades ago that has limited governing power in the West Bank.
Palestinian Prime Minister Mohammad Mustafa said on Wednesday that the Palestinian Authority must be the sole governing power in Gaza after the war.
Israeli attacks
Despite the efforts to reach a ceasefire, the Israeli military, the Shin Bet internal intelligence agency and the air force attacked about 50 targets throughout Gaza over the last 24 hours, Shin Bet and the military said in a statement on Wednesday.
Israeli strikes killed at least 13 Palestinians across the enclave. Those included seven people who were in a school sheltering displaced families in Gaza City, and six others killed in separate airstrikes on houses in Deir Al-Balah, Bureij camp and Rafah, medics said.
Families of hostages in Israel were caught between hope and despair.
“We can’t miss this moment. This is the last moment; we can save them,” said Hadas Calderon, whose husband Ofer and children Sahar and Erez were abducted.
Israel says 98 hostages are being held in Gaza, about half of whom are believed to be alive. They include Israelis and non-Israelis. Of the total, 94 were seized in the Oct. 7, 2023 attack on Israel and four have been held in Gaza since 2014.