Philippines warns Islamist militants to surrender or die

Government troops watch as fellow soldiers cross a bridge as they arrive to secure a village on the outskirts of Marawi city, Tuesday, May 30, 2017, in the southern Philippines. Philippine forces pressed their offensive to drive out militants linked to the Islamic State group after days of fighting left corpses in the streets and hundreds of civilians begging for rescue from a besieged southern city of Marawi. (AP Photo/Bullit Marquez)
Updated 30 May 2017
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Philippines warns Islamist militants to surrender or die

Marawi, Philippines: Philippine authorities on Tuesday warned Islamist militants occupying parts of a southern city to surrender or die, as attack helicopters pounded the gunmen’s strongholds where up to 2,000 residents were feared trapped.
More than 100 people have been confirmed killed in the conflict, which began last week when gunmen waving black flags of the Islamic State (IS) group rampaged through the mostly Muslim-populated city of Marawi.
President Rodrigo Duterte declared martial law across the entire southern region of Mindanao, home to roughly 20 million people, in response to the crisis as he warned that local militant groups were uniting behind IS and becoming a major security threat.
But the militants, initially estimated by the nation’s defense chief to number just 100, have withstood eight days of intense air assaults and street-to-street combat, prompting the government’s threats on Tuesday.
“We call on the remaining terrorists to surrender while there is an opportunity,” military spokesman Brig.-General Restituto Padilla said in a statement.
“For the terrorists, not surrendering will mean their sure death.”
Padilla also told AFP the surrender call warning was aimed at limiting the loss of more lives and property.
Up to 2,000 residents were trapped in areas held by the militants, according to the local government, and the International Committee of the Red Cross had voiced alarm they would be caught in the bombing raids or crossfire.
The militants also took a priest and up to 14 other people hostage at the start of the crisis, and their fate remains unknown.
The militants released a video in which they threatened to kill the hostages, according to a report by the SITE Intelligence Group on Monday that could not be verified.
And clashes on Tuesday appeared to be as intense as previous days, according to an AFP reporter who followed security forces who had to run from militants’ sniper fire coming from nearby buildings.
Military helicopters fired rockets repeatedly on that part of the city on Tuesday morning, and black smoke rose from the buildings that were apparently hit.
The gunmen were being backed by foreign fighters, including Malaysians, Indonesians and Singaporeans, authorities said.


The militants had killed at least 19 civilians, while 20 security forces and 65 gunmen had died, according to the military.
The death toll looked likely to climb, with soldiers reporting the smell of corpses in a public market still being held by the militants.
Martin Thalmann, deputy head of the ICRC’s Philippine delegation who is in Marawi, also told AFP on Monday his staff had received reports from people trapped inside the militants’ areas that residents had died from stray bullets and sickness.
The violence began when dozens of gunmen went on a rampage in response to an attempt by security forces to arrest Isnilon Hapilon, a veteran Filipino militant regarded as the local leader of IS.
Hapilon, a senior member of the Abu Sayyaf kidnap-for-ransom gang, is on the US government’s list of most-wanted terrorists.
He was being protected in Marawi by the local Maute group, which has pledged allegiance to IS.
Hapilon, the Maute and other militants had been planning a major attack on Marawi, one of the few Islamic cities in the mainly Catholic Philippines with a population of 200,000 people, armed forces chief General Eduardo Ano said.
He said they were planning to launch the assault to coincide with the Muslim holy month of Ramadan, which began on the weekend, but the raid on Hapilon triggered them to attack earlier, according to Ano.
Muslim separatist rebellion in the southern Philippines has claimed more than 120,000 lives since the 1970s.
The main Muslim rebel groups have signed accords with the government aimed at forging a final peace, giving up their separatist ambitions in return for autonomy.
The Maute, the Abu Sayyaf and other hard-line groups are not interested in negotiating and have in recent years looked to IS to help them.
The Marawi violence was intended to highlight their credentials to IS, security analysts have said.
Duterte said Saturday he was prepared to enforce martial law for as long as was necessary to end the terrorist threat.


Pakistan says will privatize over 50 state entities within four years

Updated 3 min 20 sec ago
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Pakistan says will privatize over 50 state entities within four years

  • The statement comes after Economic Affairs Minister Ahad Cheema’s meeting with a World Bank delegation
  • Divestment of state entities is key component of Pakistan’s reform agenda under $7 billion IMF program

ISLAMABAD: Economic Affairs Minister Ahad Cheema has said that Pakistan plans to privatize more than 50 state-owned enterprises (SOEs) within the next four years as part of its efforts to overhaul public entities and improve their performance, the Pakistani government said on Monday.
Cheema said this during his meeting with a delegation of top officials of the World Bank Group (WBG), according to the Press Information Department (PID) of the Pakistani government. The visit aims to enhance understanding of Pakistan’s economic, political, social and governance landscape, while exploring opportunities for future development support.
The development comes months after Prime Minister Shehbaz Sharif announced his government would privatize all state entities, except those considered “strategically important” or essential. In 2023, the International Monetary Fund (IMF), as part of Pakistan’s $3 billion bailout, had stressed the need for stronger governance of SOEs, whose losses were heavily impacting the government finances.
Last year Pakistan’s Cabinet Committee on Privatization (CCOP), responsible for the Privatization Program 2024-29, approved the privatization of 24 entities. However, it decided that the inclusion of other state entities would be determined after a review to assess their categorization as strategic or essential enterprises.
“In the first phase, the government is focusing on the privatization of power distribution companies (DISCOS) and in the second phase, Pakistan International Airlines (PIA) and other SOEs are to be privatized,” Cheema was quoted as saying by the PID, following his meeting with the World Bank delegation.
“The minister shared that the government aims to privatize up to 50 SOEs over the next 3-4 years.”
The minister informed the delegation about the challenges faced by the power sector, including high tariffs for consumers, inefficiencies in line losses and efforts to achieve full cost of recovery, according to the statement.
The World Bank delegates commended Pakistan’s efforts in addressing critical challenges and expressed their support for Pakistan’s newly launched Country Partnership Framework (CPF) for 2026-2035 to help achieve its development goals, with an unprecedented commitment of $40 billion. It would include sovereign lending of $20 billion by the International Development Association (IDA) and International Bank for Reconstruction & Development (IBRD). IFC will mobilize another $20 billion to foster private sector investments in Pakistan.
Last week, Pakistan also signed a financial advisory agreement with a consortium, led by Dubai-based Alvarez & Marsal Middle East Limited, to privatize three major power distribution companies.
The agreement is part of the government’s broader effort to reform the power sector which has long struggled with circular debt, operational inefficiencies and power theft. The divestment of state-run power companies is a key component of Pakistan’s economic reform agenda as outlined by the IMF in its current $7 billion loan program.


Islamabad says unaware of Khyber Pakhtunkhwa province’s decision to engage Kabul on militancy

Updated 31 min 29 sec ago
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Islamabad says unaware of Khyber Pakhtunkhwa province’s decision to engage Kabul on militancy

  • The government in Pakistan’s Khyber Pakhtunkhwa province on Sunday announced sending two delegations to Kabul to discuss a surge in militancy in the region
  • Pakistan has struggled to contain a surge in militancy, mainly in KP province, since a fragile truce between Pakistani Taliban and Islamabad broke down in 2022

ISLAMABAD: Pakistan’s Foreign Office said on Monday it had not been informed about a decision by the government in the northwestern Khyber Pakhtunkhwa (KP) province to hold direct talks with Kabul regarding a surge in militancy in the region, saying it would act accordingly once it is formally conveyed about the decision.
The development came a day after a KP government spokesman said the provincial government had decided to send two delegations, comprising tribal elders, religious scholars, and political leaders, to Kabul to engage in direct talks with the Afghan Taliban rulers for peace and stability in the province. It followed a statement by KP Chief Minister Ali Amin Gandapur, in which he said the security situation in the region was directly linked to the “developments in neighboring Afghanistan,” following a consultative meeting of various religious and political parties in the province.
Pakistan has struggled to contain a surge in militancy in the country, particularly in KP that borders Afghanistan, since a fragile truce between the Pakistani Taliban, or the Tehreek-e-Taliban Pakistan (TTP), and Islamabad broke down in November 2022. The TTP and other militant groups have frequently targeted security forces convoys and check-posts, besides targeted killings and kidnappings of law enforcers and government officials in recent months.
Shafqat Ali Khan, a spokesperson for Pakistan’s Foreign Office, told Arab News that Pakistan’s foreign relations with any country fall under the domain of the federal government as per the constitution, and in general, a provincial government takes part in a matter involving external affairs only through the federal authorities.
“Under the constitution, foreign relations remain the mandate of the federal government,” he said. “We have not received any communication from them [KP administration] so far and will act accordingly if the KP government contacts foreign ministry.”
Pakistan’s top military and political leadership has blamed the surge in violence on TTP militants launching cross-border attacks from Afghanistan, accusing Kabul of harboring and facilitating them. Afghanistan denies the allegation and says Pakistan’s security is an internal matter of Islamabad.
The TTP continues to get financial and logistical support from Kabul, a United Nations (UN) report said this month, amid Islamabad’s repeated calls for Afghanistan to rein in the group. The ambition and scale of the TTP’s attacks on Pakistan had significantly increased, with over 600 attacks from July to December 2024, the report said.
The KP information department said on Sunday that two separate delegations would soon engage in direct talks with the Afghan Taliban in Kabul to address key issues, including cross-border security, economic cooperation and trade. Provincial government spokesperson Muhammad Ali Saif would be the focal person and will also be part of all delegations in this regard, it added.
“Both delegations will visit Kabul soon as the government has finalized the Terms of Reference (TORs) for the tribal elders,” Saif told Arab News in a statement sent by his office on Monday.
The KP government will formally notify the federal government about the initiative and ensure it is aligned with Pakistan’s foreign and security policies, according to the TOR document seen by Arab News.
“No commitments will be made that override Pakistan’s national security framework or diplomatic stance and a detailed briefing document will be shared with federal authorities before the engagement,” the document said.
The KP government proposes sending a delegation of tribal elders, religious scholars, and political leaders to engage with their Afghan counterparts and address mutual concerns, particularly peace, security, cross-border trade and economic cooperation, through “tribal diplomacy,” according to the document.
“Objectives of the delegations included strengthening cross-border tribal diplomacy, confidence-building measures between tribal communities and authorities in both countries, and facilitating dialogue on regional peace and stability,” it read.
Another aim is to address cross-border security concerns by engaging tribal elders to “dissuade terrorist organizations from using Afghan territory for launching attacks in Pakistan and seek cooperation in monitoring and preventing TTP and other militant groups’ movement across the border,” according to the TORs.
“[The delegations will] discuss initiatives to enhance health care, education, and livelihood opportunities,” the document said, adding that the discussions would also focus on cross-border humanitarian and cultural initiatives for safe movement of people across the border for medical treatment, trade and social engagements.


Closing Bell: Saudi benchmark index edges down to close at 12,266

Updated 43 min 25 sec ago
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Closing Bell: Saudi benchmark index edges down to close at 12,266

RIYADH: Saudi Arabia’s Tadawul All Share Index edged down on Monday, losing 105.61 points, or 0.85 percent, to close at 12,266.46.    

The total trading turnover of the benchmark index was SR5.4 billion ($1.2 billion), as 41 stocks advanced, while 201 retreated.      

The MSCI Tadawul Index also declined by 15.52 points, or 1.01 percent, to close at 1,521.64.  

The Kingdom’s parallel market, Nomu, lost 92.37 points, or 0.29 percent, to close at 31,644.81. This comes as 30 stocks advanced while 52 retreated.    

Arabian Internet and Communications Services Co. emerged as the best-performing stock, with its share price surging by 4.82 percent to SR355.    

Other top performers included Al Hassan Ghazi Ibrahim Shaker Co., which saw its share price rise by 3.90 percent to SR29.30, and Shatirah House Restaurant Co., which saw a 3.65 percent increase to SR23.26.   

Abdullah Saad Mohammed Abo Moati for Bookstores Co. rose 3.02 percent to SR42.70, while Jamjoom Pharmaceuticals Factory Co. gained 2.74 percent to SR164.80.  

Anaam International Holding Group saw the steepest decline of the day, with its share price easing 5.80 percent to close at SR24.68.  

Al Mawarid Manpower Co. fell 3.45 percent to SR134.20, while Al Majed Oud Co. dropped 3.28 percent to SR171.20.  

Middle East Healthcare Co. also faced a loss in today’s session, with its share price dipping 2.99 percent to SR81.20, while Mutakamela Insurance Co. saw a 2.77 percent to settle at SR17.52.   

On the announcements front, Dar Al Arkan Real Estate Development Co. has fully redeemed its $600 million sukuk from its 2025 Series 6 Medium-Term Note program. 

In a bourse filing, the company confirmed that the sukuk was paid in full on its due date, with the principal amount transferred to the designated account.  

The sukuk, valued at $600 million, was originally issued on Oct. 15, 2019, with a trading end date of Feb. 15. 

Dar Al Arkan utilized its internal resources to meet the obligation, ensuring a smooth redemption process. HSBC Bank served as the transaction’s paying agent and sukuk holders’ agent.  

A total of 3,000 sukuk units, each with a par value of $200,000, were redeemed, representing 100 percent of the issued amount. 

Sukuk holders are scheduled to receive their respective amounts in their accounts on Feb. 17.

The financial impact of the redemption will be reflected in the company’s first-quarter 2025 results. 

Dar Al Arkan acknowledged the role of its investors and sukuk holders in the transaction, emphasizing their continued trust in the company, its board, and its executive management. 


Turkiye faces fiscal strain as earthquake reconstruction pushes spending, says minister

Updated 17 February 2025
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Turkiye faces fiscal strain as earthquake reconstruction pushes spending, says minister

RIYADH: Turkiye’s efforts to tighten fiscal policy are being hampered by the financial burden of earthquake reconstruction, Finance Minister Mehmet Simsek said, as the government grapples with balancing spending and economic stability. 

Speaking during a closing panel at the AlUla Conference for Emerging Market Economies, Simsek said the country’s fiscal position remains under pressure due to ongoing rebuilding efforts. 

Turkiye was struck by a 7.8-magnitude earthquake and a powerful aftershock on Feb. 6, 2023, devastating 11 provinces, killing over 53,000, and causing $34.2 billion in damages — 4 percent of its 2021 gross domestic product, according to a World Bank rapid damage assessment report. The estimate covered direct physical damage but did not account for indirect or secondary economic impacts. 

“We have spent about $74 billion over the past two years, which is equivalent to just over 6 percent of GDP on earthquake reconstruction because we are building cities from scratch. Currently, 450,000 units are under construction; it’s the whole infrastructure,” Simsek said. 

“Last couple of years, fiscal deficit to GDP has been around 5 percent, which is relatively high by Turkish standards. This year, we aim to bring it down to about 3 percent, so fiscal adjustment is underway,” he added. 

The fiscal challenges come as Turkiye’s government pledged in March to continue tightening policy to curb inflation. The same month, Fitch Ratings upgraded Turkiye’s credit rating to “B+” from “B,” citing a more disciplined approach to monetary policy. 

Despite headwinds, Simsek said inflation expectations are improving, albeit slowly. 
 
“Inflation expectations are improving, but it’s been sluggish, in particular among households and among, you know, corporates, while markets obviously tend to have a better reading of what we are saying,” he said. 

He emphasized that there is no substitute for better policies, stressing that the key lies in sound policymaking and effective execution. “For this year, it’s a combination of tight monetary policy and tighter fiscal policy combined with a more supportive incomes policy,” he said, adding that these measures should help sustain disinflation, which is crucial for improving expectations. 

Macroeconomic stability 

During the panel, Egypt’s minister of planning, economic development, and international cooperation, Rania Al-Mashat, said investing in resilience is an investment in the future. 

“There are first principles that we all agree on, macroeconomic stability, this is a necessary condition if we want to move forward on privatization, if we want to move forward on confidence and credibility internally and externally,” Al-Mashat said. 

She pointed to recent reforms that have stabilized Egypt’s economy, particularly in the foreign exchange market, and noted a retrenchment in public investment. “Right after March, you can see the manufacturing non-oil sector moving forward. We can see more exports taking place once the intermediate inputs into production were actually pushed,” she added. 

Pakistan’s Finance Minister Muhammad Aurangzeb echoed the emphasis on fiscal responsibility, saying the country has achieved a primary surplus through disciplined management. 

“Our taxes to GDP ratio has been languishing between 9 to 10 percent. That sort of moved in the direction of 10.8 percent at the end of December. We have agreed to move it to 13.5 percent to join the committee of nations and to bring a certain level of sustainability to the primary surplus that we have,” Aurangzeb said. 

“On the other side, it’s also discussion on the expenditures and making tough policy choices with respect to what is a good cost and bad cost,” he added. 

Brazil’s economic outlook 

Brazil’s Finance Minister Fernando Haddad said the country’s central bank has played a key role in bringing inflation under control while maintaining growth. 

“We are growing in the last two years around 3.4 percent a year, contradicting all of the predictions both domestic and international,” Haddad said. 

“And we understand that the fiscal adjustment that we’re doing is not recessive because we’re guaranteeing a growth rate of 3.4 percent around a decline in inflation,” he added. 

Organized by the International Monetary Fund and Saudi Arabia, the first edition of the high-level annual conference in AlUla aimed to address global economic challenges. The two-day event brought together finance ministers, central bank governors, and policymakers, alongside leaders from the public and private sectors, international institutions, and academia. 


Authorities to dismantle all bunkers in clashes-hit northwestern Pakistani district by March 23

Updated 17 February 2025
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Authorities to dismantle all bunkers in clashes-hit northwestern Pakistani district by March 23

  • The development came as another aid convoy came under attack by unidentified men in Ochat area of Kurram district
  • Fresh feuding between Shiite and Sunni tribes began on Nov. 21 when gunmen ambushed a convoy and killed 52 people

ISLAMABAD: The government in Pakistan’s northwestern Khyber Pakhtunkhwa (KP) province has decided to dismantle all bunkers in the Kurram district, which has been the site of sectarian and tribal clashes over the last three months, by March 23, officials said on Monday.
Kurram, a tribal district of around 600,000 where federal and provincial authorities have traditionally exerted limited control, has frequently witnessed violence between its Sunni and Shiite communities over land and power. Travelers to and from the area often ride in convoys escorted by security officials.
Fresh feuding began on Nov. 21 when gunmen ambushed a convoy and killed 52 people, mostly Shiites. The assault triggered road closures and other measures that have disrupted people’s access to medicine, food, fuel, education and work and created a humanitarian crisis in the area, where authorities say at least 150 people have been killed in nearly three months of clashes.
On Monday, KP Chief Minister Ali Amin Gandapur presided over a provincial cabinet meeting, during which officials briefed participants about various measures taken by them to restore peace to volatile district, including the demolition of bunkers used by rival tribes to attack each other with both small and heavy weapons.
“So far, 151 bunkers have been demolished,” KP CM’s office quoted officials as telling the cabinet members. “The deadline for demolishing all bunkers in the area has been set for March 23.”
The warring tribes had agreed on the demolition of bunkers and handover of heavy weapons as part of a peace agreement reached on Jan. 1, but sporadic violence has continued and both sides have occasionally engaged in battles with machine guns and heavy weapons that have isolated the remote, mountainous region.
Shiite Muslims dominate parts of Kurram, although they are a minority in the rest of Pakistan, which is majority Sunni. The main road connecting Parachinar, the main town in Kurram, to the provincial capital of Peshawar has been blocked since sectarian fighting began in November.
Meanwhile, police said an aid convoy, comprising 52 vehicles, that was en route to the troubled district came under attack by unidentified men near Ochat, a hilly area on the outskirts of Parachinar.
“The area is remote and we’re collecting information about human and material losses,” Kurram police official Yaqoob Khan told Arab News.
Attacks on aid convoys and crossfire between rival tribes have injured two senior administration officials and a number of security men as well as drivers of vehicles carrying supplies over the last two months.
“Khyber Pakhtunkhwa cabinet has taken strict notice of the attack on a convoy in Kurram,” KP government spokesman Muhammad Ali Saif said in a statement.
“Some miscreants are making nefarious attempts to disrupt peace. Chief Minister Ali Amin Gandapur has directed to take strict action against the miscreants.”
Authorities have also been evacuating the injured and ailing from Kurram to Peshawar via helicopters since last month.
“So far, 153 flights have been conducted by two provincial government helicopters to Kurram and around 4,000 people have been provided air transport facility through these flights,” officials told the provincial cabinet.
“To overcome the shortage of essential medicines, 19 thousand kilograms of medicines have been delivered to Kurram so far.”