Brasília: Brazil’s Supreme Court threatened on Wednesday to suspend social media platform X unless billionaire owner Elon Musk names a new legal representative for the company within 24 hours.
The decision escalates a months-long feud between Musk and Brazilian Supreme Court Judge Alexandre de Moraes, who has previously ordered the suspension of dozens of accounts on X for allegedly spreading disinformation.
In April, Moraes ordered an investigation of Musk, accusing him of reactivating some banned accounts.
Musk and other critics accuse Moraes of stifling free speech.
In an order made public Wednesday, Moraes ordered Musk “to appoint the company’s new legal representative in Brazil within 24 hours.”
“In the event of non-compliance with the order, the decision provides for the suspension of the social network’s activities in Brazil,” it said.
In response, Musk posted on X that “this ‘judge’ has repeatedly broken the laws he has sworn to uphold.”
Musk shut X’s business operations in Brazil this month, claiming the judge had threatened the company’s previous legal representative with arrest to force compliance with “censorship orders.”
Brazilian users have meanwhile continued to be able to access the social media site formerly known as Twitter.
Moraes, who also presides over Brazil’s Superior Electoral Tribunal, has spearheaded a battle against disinformation in South America’s largest nation, clashing with Musk along the way.
Several of the X accounts he ordered suspended belonged to supporters of Brazil’s former far-right president Jair Bolsonaro, who tried to discredit the voting system in the 2022 election, which he lost.
Musk previously said that if X had complied with Moraes’s orders, “there was no way we could explain our actions without being ashamed.”
Musk is also the subject of a separate judicial investigation into an alleged scheme where public money was used to orchestrate disinformation campaigns in favor of Bolsonaro and those close to him.
Brazil judge threatens to suspend X within 24 hours
https://arab.news/9x2ne
Brazil judge threatens to suspend X within 24 hours
- The decision escalates a months-long feud between Musk and Brazilian Supreme Court Judge Alexandre de Moraes
- In April, Moraes ordered an investigation of Musk, accusing him of reactivating some banned accounts
UK police investigating suspicious vehicle in central London, carry out controlled explosions
- Road closures are in place in the vicinity of Regent Street and New Burlington Street in central London, police said on X
LONDON: British police carried out a number of controlled explosions as a precaution in central London as they investigated a suspicious vehicle on Wednesday, the city’s police force said on social media.
Road closures are in place in the vicinity of Regent Street and New Burlington Street in central London, police said on X.
PIF invests $200m in new Saudi ETF by State Street Global Advisers
RIYADH: Saudi Arabia’s Public Investment Fund has invested $200 million in the newly launched SPDR J.P. Morgan Saudi Arabia Aggregate Bond UCITS exchange-traded fund.
In a press release, State Street Global Advisers, the US-based asset manager behind the ETF, called it the first fixed-income UCITS ETF focused on the Kingdom to launch in Europe.
This move comes as global investors look to capitalize on Saudi Arabia’s growing bond market, supported by economic and infrastructure developments under Vision 2030.
The ETF launch further underscores PIF’s strategy to enhance international access to Saudi Arabia’s diversified market and attract foreign investment. PIF’s portfolio also includes investments in ETFs listed in Hong Kong, Shanghai, Shenzhen, and Tokyo.
“PIF’s investment into the first internationally listed fixed-income Saudi ETF further deepens the Saudi market, while attracting investors and strengthening cross-geography partnerships, increasing international investment in Saudi Arabia,” said Yazeed Al-Humied, deputy governor and head of Middle East and North Africe Investments at PIF.
Undertakings for Collective Investment in Transferable Securities, or UCITS, are EU regulations that establish a standardized framework for investment funds marketed and sold to investors within the economic bloc.
Listed on the London Stock Exchange and Deutsche Börse’s Xetra in Frankfurt, the new fund tracks the J.P. Morgan Saudi Arabia Aggregate Index. This index provides exposure to the Kingdom’s financial instruments, including liquid dollar- and SR-denominated government and quasi-government bonds, as well as sukuk bonds.
“We are delighted to see such significant early-stage commitment from PIF into the SPDR J.P. Morgan Saudi Arabia Aggregate Bond UCITS ETF, a first of its kind in the industry. The creation of this fund sprung from our ambition to provide investors a compelling and innovative opportunity,” said Yie-Hsin Hung, CEO of State Street Global Advisers.
The ETF is accessible to investors in several European countries, including Austria, Denmark, and Finland, as well as France, Germany, and Italy. It is also available in Luxembourg, the Netherlands, and Norway, as well as Spain, Sweden, and the UK.
State Street Global Advisers, the asset management business of State Street Corp., has served governments, institutions, and financial advisers for over four decades, managing $4.73 trillion in assets.
The SPDR ETF range spans international and domestic asset classes, providing investors with flexible options aligned to diverse strategies.
Pakistan sisters set father on fire after rape — police
- Sisters took petrol from motorcycle and set fire to father while he slept on Jan. 1, say police
- Father had been raping eldest girl for a year, twice attempted to rape younger one, sisters allege
LAHORE: Two teenage sisters were arrested in Pakistan for killing their father by setting him on fire in revenge for rape, police said Wednesday.
The father was attacked in the Punjabi city of Gujranwala on January 1 and taken to hospital where he died on Tuesday.
“The girls said that they decided among themselves to find a ‘permanent solution’,” Rizwan Tariq, a senior police official in the city, told AFP.
They then took petrol from a motorcycle and set their father on fire as he slept, he added.
The pair, who are step-sisters, said their father had been raping the eldest girl for a year, and had twice attempted to rape the younger girl.
Their mothers — who are both married to the man — knew about the abuse but did not know of the revenge plan.
AFP has not named the man in order to protect the identities of the girls, one of whom is from a previous marriage.
One of the wives has also been arrested while the second is being questioned.
“We expect to present them before the court in a few days, as soon as we finish the investigation,” Tariq added.
Closing Bell: Saudi main index slides to close at 12,088
RIYADH: Saudi Arabia’s Tadawul All Share Index edged lower on Wednesday, dropping by 24.55 points, or 0.20 percent, to close at 12,088.74. The benchmark index saw a trading turnover of SR7 billion ($1.86 billion), with 127 stocks advancing and 112 declining.
The Kingdom’s parallel market, Nomu, also experienced a slight decline, falling by 32.97 points, or 0.11 percent, to settle at 30,776.15. Of the stocks listed on Nomu, 41 advanced while 42 retreated.
The MSCI Tadawul Index dropped 7.53 points, or 0.50 percent, to close at 1,506.86.
Among the top performers of the day was Nice One Beauty Digital Marketing Co., which made its debut on the main market on Jan. 8. The company’s share price surged by 30 percent, reaching SR45.50.
Other notable gainers included Al-Mawarid Manpower Co., which saw its stock rise 7.82 percent to SR135.20, and Al-Baha Investment and Development Co., which saw its share price climb 6.98 percent.
On the downside, National Co. for Learning and Education recorded the largest drop, falling 4.24 percent to SR185.20. Almoosa Health Co. also saw a decline of 3.84 percent, ending the session at SR140.40, while Alinma Retail REIT Fund Yanbu saw a 3.45 percent drop to SR4.76.
On the announcements front, Nice One Beauty Digital Marketing Co. revealed it is offering 34.65 million shares at SR35 each. SNB Capital is serving as the lead manager for the offering.
United Electronics Co. announced its estimated financial results for the year ending Dec. 31, 2024. The company reported a net profit of SR534.53 million, marking a 36.8 percent increase compared to 2023. The growth was driven by higher revenues and improved gross profits, thanks to a better sales mix and expansion in the consumer finance sector, despite an increase in selling, distribution, and administrative expenses. Extra’s stock ended the day at SR95.60, up 2.13 percent.
United International Holding Co. also posted its financial results for the period ending Dec. 31, 2024. The company recorded a net profit of SR222.38 million, a 4.8 percent increase over the previous year. This growth was attributed to higher credit loss provisions and increased selling, general, and administrative expenses. The company’s shares closed at SR187.80, down 2.60 percent.
Meanwhile, the Kingdom’s Capital Market Authority announced that Rawasi Albina Investment Co. is planning to issue up to SR500 million in debt instruments. The company's stock finished the session at SR4.35, down 1.15 percent.
Sri Lanka vows crackdown on illegal activities by Israeli tourists
- Government reacts to complaints over emergence of Israeli-run businesses and place of worship in Arugam Bay
- Last month, Sri Lankan civil groups demanded screenings of Israeli visitors to keep out potential war criminals
COLOMBO: Sri Lanka will crack down on reported illegal activities carried out by Israeli tourists, its prime minister said on Wednesday, following a series of complaints since last year regarding their arrivals in the country.
A total of 25,514 Israelis visited Sri Lanka in 2024, according to government data. One of their favorite destinations is Arugam Bay, a small town on the southeastern coast, which is widely recognized as one of the world’s best surfing spots.
The predominantly Muslim region made international headlines in October last year, when US and Israeli authorities warned visitors of what they said was a “terrorist threat” focused on tourist areas and beaches. The alleged threat followed a series of altercations between Israelis and local residents.
Social media posts by visitors to Arugam Bay and complaints by locals themselves indicate that many of the arriving Israelis come for vacations after taking part in the ongoing deadly onslaught on Palestinians in Gaza.
Residents have also complained over the emergence of Israeli businesses in the area and the establishment of a Chabad house — a Jewish community center and place of worship.
Prime Minister Harini Amarasuriya said during Wednesday’s parliament session that Sri Lankan authorities have not granted “any permission for Israeli citizens to build religious places of worship or related buildings” and “the government will take prompt action to stop it.”
Responding to questions raised by opposition lawmaker Mujibur Rahman, she also addressed reports regarding Israelis running businesses in the area.
“We have identified this as a problem. Action will be taken against this, and steps will be taken to hold talks regarding it and stop such business activities,” Amarasuriya said.
“The government has not issued any visa for Israelis to engage in business activities in Sri Lanka, especially under tourist visas. They are engaging in such activities by violating our laws.”
The government’s reaction follows last month’s protests in Sri Lanka’s capital and a petition by civil society groups demanding special screenings of Israelis arriving in the country.
The direct trigger for the protest was the identification of at least one Israeli tourist as a soldier accused of war crimes.
The man was spotted in Sri Lanka by the Hind Rajab Foundation, a nongovernmental organization based in Belgium, which pursues legal action against Israeli military personnel involved in the killing of tens of thousands of Palestinians in Gaza over the past 15 months.
Swasthika Arulingam, a human rights lawyer and leader of the People’s Struggle Movement, which helped organize the protest, slammed the former Israeli personnel.
She said those “coming here after/between service rounds, taking rest or time off from attacking Palestinians in the ongoing genocide,” and their “sympathizers who hold vigils and events for their genocidal comrades” were the most problematic groups of tourists arriving in the country and often spotted in Arugam Bay.
“We are also hearing stories of illegal tourist businesses being carried out by Israelis in Sri Lanka,” she told Arab News.
“The local economy is impacted by the factor these people are running operations in Sri Lanka making use of resources here and not paying their dues.”
The recent “terrorist threat” warning by the US has also affected the local community.
“Local residents and local tourism providers have told us that in the last couple of weeks, the advisories and threats have meant their own properties are subject to surveillance and checking from the military,” Arulingam said.
“As citizens of Sri Lanka, we are yet to know if there were actual security concerns or was this simply bullying tactics by the US to keep Sri Lanka in check. We are concerned regarding what’s transpiring in Arugam Bay.”
