Thousands in Khartoum rally against military rule, authorities fire teargas

The protests come on the anniversary of a previous coup in 1989, which toppled the country’s last elected civilian government and ushered in three decades of iron-fisted rule by general Omar Al-Bashir. (File/AFP)
Short Url
Updated 01 July 2022
Follow

Thousands in Khartoum rally against military rule, authorities fire teargas

  • Pro-democracy medics said one demonstrator was shot dead “by a bullet in the chest” Wednesday night
  • Troops and police blocked off roads leading to both army headquarters and the presidential palace

KHARTOUM: Security forces fired tear gas and stun grenades as thousands of anti-coup protesters took to the streets of the Sudanese capital Khartoum and its suburbs Thursday demanding an end to military rule, AFP correspondents said.
“Down with Burhan’s rule,” protesters chanted in north Khartoum, urging the reversal of an October military coup by army chief Abdel Fattah Al-Burhan that prompted foreign governments to slash aid, deepening a chronic economic crisis.
“Even if we die, the military will not rule us,” they cried.
Pro-democracy medics said one demonstrator was shot dead “by a bullet in the chest” Wednesday night, in small-scale protests in the run-up to the main rallies.
More than 100 people have been killed in protest-related violence, according to UN figures, as the military has cracked down on the anti-coup movement over the past eight months.
An AFP correspondent said Internet and phone lines had been disrupted since the early hours of Thursday, a measure the Sudanese authorities often impose to prevent mass gatherings.
Security was tight in Khartoum despite the recent lifting of a state of emergency imposed after the coup.
Troops and police blocked off roads leading to both army headquarters and the presidential palace, witnesses said.
Shops around the capital were largely shuttered.
Activists have been calling for “million-strong” rallies.
UN special representative Volker Perthes said Thursday that “violence needs to end,” while the US embassy in Khartoum urged restraint and “the protection of civilians so that no more lives are lost.”

Sudan’s foreign ministry has repeatedly criticized the UN envoy’s comments, saying they were built on “assumptions” and “contradict his role as facilitator” in troubled talks on ending Sudan’s political crisis.
The latest protests come on the anniversary of a previous coup in 1989 that toppled the country’s last elected civilian government and ushered in three decades of iron-fisted rule by Islamist-backed general Omar Al-Bashir.
They also come on the anniversary of 2019 protests demanding that the generals, who had ousted Bashir in a palace coup earlier that year, cede power to civilians.
Those protests led to the formation of the mixed civilian-military transitional government which was toppled in last year’s coup.
Sudan has been roiled by near-weekly protests as the country’s economic woes have deepened since Burhan seized power last year.
“June 30 is our way to bring down the coup and block the path of any fake alternatives,” said the Forces for Freedom and Change, an alliance of civilian groups whose leaders were ousted in the coup.
Alongside the African Union and east African bloc IGAD, the United Nations has been attempting to broker talks between the generals and civilians, but they have been boycotted by all the main civilian factions.
The UN has warned that the deepening economic and political crisis has pushed one third of the country’s population of more than 40 million toward life-threatening food shortages.


Turkiye’s Erdogan criticizes US crackdown on college protests

Updated 2 min 16 sec ago
Follow

Turkiye’s Erdogan criticizes US crackdown on college protests

  • “Conscientious students and academics including anti-Zionist Jews at some prestigious American universities are protesting the massacre (in Gaza),” Erdogan told an event
  • “These people are being subjected to violence, cruelty, suffering, and even torture for saying the massacre has to stop“

ANKARA: Turkish President Tayyip Erdogan waded into the debate over US college campus protests on Thursday, saying authorities were displaying “cruelty” in clamping down on pro-Palestinian students and academics.
Demonstrations have spread on campuses across the United States over Israel’s conduct of the war in Gaza, prompting police crackdowns and arrests at some venues such as Columbia University in New York.
“Conscientious students and academics including anti-Zionist Jews at some prestigious American universities are protesting the massacre (in Gaza),” Erdogan told an event in Ankara.
“These people are being subjected to violence, cruelty, suffering, and even torture for saying the massacre has to stop,” he said, adding that university staff were being “sacked and lynched” for supporting the Palestinians.
Turkiye, a NATO ally of the United States, has sharply criticized Israel’s assault on Gaza and what it calls the unconditional support it receives from Western countries.
The US is a top supplier of military aid to Israel and has shielded the country from critical United Nations votes.
“The limits of Western democracy are drawn by Israel’s interests,” Erdogan said. “Whatever infringes on Israel’s interests is anti-democratic, antisemitic for them.”
More than 34,000 people have been killed in Gaza during Israel’s nearly seven-month military offensive, Palestinian health officials say, after Hamas militants killed some 1,200 people and took 253 hostages during an Oct. 7 assault on southern Israel, according to Israeli tallies.


Alvarez & Marsal opens regional headquarters in Riyadh 

Updated 5 min 9 sec ago
Follow

Alvarez & Marsal opens regional headquarters in Riyadh 

RIYADH: Underscoring international confidence in the Saudi economy, global consulting firm Alvarez & Marsal has become yet another company to have opened its regional headquarters in Riyadh.

In a press statement, the US firm stated that the inauguration of the new regional headquarters underscores its commitment to contributing to the country’s transformation agenda. 

“As the company continues to deepen its roots in the country, with expertise across various sectors — from banking and tax to healthcare and disputes and investigations — this strategic move aims to leverage local insights in the Kingdom to drive sustainable growth and innovation.” the company said. 

Additionally, A&M announced that it has included 13 skilled Saudi graduates in the inaugural batch of its Bidayah Graduate Program. 

The company stated that these candidates were selected from a competitive pool of applicants, describing the chosen individuals as representing the bright future of the Kingdom and reflecting the potential that A&M sees in local talent. 

James Dervin, managing director of A&M in the Middle East and co-head in the region, stated that the program is designed to develop the next generation of execution-focused leaders in management consulting. It is guided by the A&M principles of leadership, action, and results. 

“Over the course of 12 months, participants will undergo rigorous training, engage in live project work, and receive mentorship from seasoned industry experts,” he said. 

Dervin added: “Coupled with the incorporation of our regional headquarters in Saudi Arabia, the program underscores A&M’s commitment to investing in the professional development of Saudi nationals and aligning with the Kingdom’s ambitious Vision 2030,” 

He further noted that the new graduates will have a significant, positive impact on his firm and the clients it serves. 

Commenting on the close alignment of A&M’s global brand with the local market dynamic in Saudi Arabia, Bryan Marsal, A&M’s CEO and co-founder, said: “The all-encompassing nature of the Saudi Arabian transformation is driving significant demand for A&M’s distinctive ‘get-stuff-done’ brand of services — for our ability to fix problems, our ‘skin in the game’, and our freedom from audit conflicts.” 

With over 9,000-strong workforce across six continents, A&M generates tangible results for corporations, boards, private equity firms, law firms, and government agencies grappling with intricate challenges, according to its website. 

More than 180 major global companies and organizations have already established regional headquarters in the Saudi capital. These include Apple, Microsoft and Alibaba, as well as the IMF, IBM, and Google.  

Other notable entities on the list include German consultancy firm TUV Rheinland, PwC Middle East, Aramex and Amazon. 


British police officer pleads guilty to terror charges for showing support for Hamas

Updated 10 min 29 sec ago
Follow

British police officer pleads guilty to terror charges for showing support for Hamas

  • Adil pleaded guilty in Westminster Magistrates’ Court to two counts of publishing an image in support of a proscribed organization in violation of the Terrorism Act
  • Two other police officers who were concerned by the images reported Adil to superiors

LONDON: A British police officer pleaded guilty Thursday to terror charges for showing support on social media for Hamas, which is designated a terror group and banned in the UK.
West Yorkshire constable Mohammed Adil admitted sharing two images on WhatsApp supporting the group three weeks after Hamas and other Palestinian militants stormed into Israel on Oct. 7 and killed about 1,200 people and seized some 250 hostages.
Adil, 26, pleaded guilty in Westminster Magistrates’ Court to two counts of publishing an image in support of a proscribed organization in violation of the Terrorism Act.
In messages shared on WhatsApp stories with nearly 1,100 contacts, Adil posted images of a fighter wearing a Hamas headband, prosecutor Bridget Fitzpatrick said.
“Today is the time for the Palestinian people to rise, set their paths straight and establish an independent Palestinian state,” an Oct. 31 post said, apparently quoting the leader of Hamas’ military wing.
A second post on Nov. 4 was said to quote a Hamas military spokesperson.
Two other police officers who were concerned by the images reported Adil to superiors, Fitzpatrick said. He was arrested in November and has been suspended from the force.
“I accept that at the time of the offending you were of good character,” Chief magistrate Paul Goldspring told Adil, though he said he may impose a prison term when he is sentenced June 4.
Adil was released on bail.


UAE banks’ aggregate capital, reserves exceed $136bn

Updated 18 min 45 sec ago
Follow

UAE banks’ aggregate capital, reserves exceed $136bn

RIYADH: UAE-based banks’ aggregate capital and reserves reached 501.5 billion dirhams ($136 billion) at the end of February, up 14.4 percent year-on-year, according to new data. 

The latest statistics from the Central Bank of the UAE showed that on a monthly basis, the total capital and reserves grew 0.95 percent, reflecting an increase of approximately 4.7 billion dirhams, according to the Emirates News Agency, also known as WAM. 

This rise in figures falls in line with the central bank’s goal of enhancing monetary and financial stability in the country. 

Moreover, the data indicated that national banks accounted for around 86.5 percent of the aggregate capital and reserves of banks operating in the UAE. At the end of February, they recorded a total of 433.7 billion dirhams, an annual rise of 14.6 percent.

On the other hand, the share of foreign banks settled at 13.5 percent, hitting 67.8 billion dirhams at the end of the same month, reflecting a 13.2 percent surge compared to the same period a year earlier.  

Furthermore, at the end of February, the total capital and reserves of banks operating in Dubai alone stood at 246.4 billion dirhams, logging a year-on-year growth of 15.1 percent. 

Additionally, banks operating in Abu Dhabi recorded around 217 billion dirhams, up 13 percent from the corresponding period in 2023.  

Meanwhile, the cumulative capital and reserves of banks operating in other emirates combined reached an estimated 38.1 billion, reflecting a 15.5 percent climb in comparison to the same period a year prior. 

In March, a top executive at Roland Berger said that UAE bank branches were witnessing the highest revenues in the region, amounting to $18.6 million per branch.

This was driven by the nation’s digital transformation, which enabled financial institutions in the Gulf Cooperation Council to reduce the number of banking branches by 328 within three years, Saumitra Sehgal, the global consulting firm’s head of financial services in the Middle East, told WAM, at the time.  

Sehgal also pointed out at the time that the number of bank branches across GCC nations decreased from 4,067 at the end of 2019 to 3,739 by December 2022.   

He further noted that banks in the UAE saw the highest number of outlets merge and reduce with the support of digital transformation between 2019 and 2022.


Saudi financial robo-advisory firm Abyan Capital secures $18m in funding  

Updated 26 min 55 sec ago
Follow

Saudi financial robo-advisory firm Abyan Capital secures $18m in funding  

RIYADH: Financial robo-advisory firm Abyan Capital has secured $18 million in funding in further evidence of the growing confidence in the Kingdom’s artificial intelligence sector.

Led by STV, the funding round also saw participation from Aramco’s Wa’ed Ventures and RZM Investment. 

Robo-advisors are digital platforms that utilize AI and machine learning algorithms to automate and optimize investment processes.  

Founded in 2022 by Abdullah Al-Jeraiwi, Omar Al-Mania and Saleh Al-Aqeel, Abyan Capital is a financial services company that provides an automated solution and portfolio management for long-term investments.  

“Abyan Capital stands out by unlocking the SR300 billion ($80 billion) investment management and wealth advisory sector for investors from all backgrounds in Saudi Arabia, through its mobile-first, robo-advisory model,” Yazeed Al-Turki, principal at STV, said in a statement.  

In a short period of time, he said Abyan has enabled a large base of first-time investors to access multiple wealth management solutions, underscoring the team’s commitment to innovation and inclusivity.  

“We are delighted to partner with Abdullah, Saleh and the team on their journey to redefine the wealth management ecosystem in the Kingdom,” Al-Turki added.  

The company aims to utilize its newly secured funds to further enhance its platform, expand its suite of financial products, and accelerate its market penetration across the investment solution value chain.

“Today, we are proud that in a very short amount of time, Abyan has exceeded deposits of over SR1.4 billion and more than 100,000 portfolios invested. And we will be launching new diversified products soon with a goal to make Abyan the digital retail investment house,” said Al-Jeraiwi, the CEO.