RIYADH: Key regional issues, including the Qatar crisis, will top the agenda of wide-ranging talks on Sunday between King Salman and Turkish President Recep Tayyip Erdogan in Jeddah.
The focus of the talks will be relations among Gulf countries. The leaders are also expected to exchange views on regional and international issues, and offer solutions to end regional tensions.
Erdogan’s “first stop will be Jeddah on Sunday,” said Turkish Ambassador Yunus Demirer, who flew to the city on Saturday to prepare for the presidential visit.
Erdogan “will then depart for Kuwait and later Qatar to meet Kuwaiti Emir Sheikh Sabah Al-Ahmad Al-Sabah and Qatari Emir Sheikh Tamim bin Hamad Al-Thani,” the envoy added.
Saudi Arabia, the UAE, Egypt and Bahrain last month cut diplomatic ties with Qatar and issued 13 wide-ranging demands to lift the embargo, including the closure of a Turkish military base in the emirate.
Regarding Erdogan’s visit to the Kingdom, Turkey’s presidential spokesman Ibrahim Kalin said: “Turkey has adopted a constructive role since the onset of the Qatar crisis, and called for negotiations toward a resolution through dialogue.”
Kalin added: “Erdogan and the leaders of the Gulf will also discuss bilateral relations and other regional issues such as Iraq, Syria, terrorism, Palestine and Al-Aqsa Mosque.
“It is unacceptable to try to surround Al-Aqsa Mosque on security grounds, install metal detectors and block Palestinians and Arabs or other Muslims from entering there.
“We call on all sides, the Arab world, Europe, the US and the international community to raise their voice on this issue.”
King Salman to hold talks with Erdogan
King Salman to hold talks with Erdogan
‘Fight until last ball,’ PCB chief tells Pakistan side ahead of second T20 against Ireland
- Ireland defeated Pakistan in opener of a three-match series on Friday in a blow to the Pakistan side
- PCB chief Mohsin Naqvi arrived in Dublin on Saturday to boost their morale ahead of the second T20
ISLAMABAD: Pakistan Cricket Board (PCB) Chairman Mohsin Naqvi on Sunday held a two-hour-long meeting with the Pakistan cricket team in Dublin, where he urged the Green Shirts to “fight until the last ball” in the upcoming Twenty20 matches against Ireland and England.
Ireland beat Pakistan for the first time in a T20 fixture in the opener of a three-match series on Friday, courtesy of a heroic 77-run knock by Andy Balbirnie that helped the home side win by five wickets against Babar Azam’s squad.
The defeat was a blow for the South Asian squad as it prepares for the upcoming Men’s T20 World Cup scheduled to take place from June 2 in the United States and West Indies, by playing separate cricket series against Ireland and England.
PCB chief Naqvi arrived in Dublin on Saturday to hold meetings with the team to boost their morale ahead of the second T20.
“He encouraged the players and advised to work hard and adopt a professional approach to the game,” the PCB said in a statement. “He urged the players to fight until the last ball and [said] if they work together as a team, they will achieve victory.”
After the Ireland series, Pakistan will travel to England to play a four-match series against the home side from May 22-30 in Leeds, Birmingham, Cardiff and London before departing for the US for the mega event.
Pakistan will begin their World Cup campaign against the United States on June 6 before taking on arch-rivals India in a high-octane clash on June 9 in New York.
Naqvi said that the team’s bowling attack was “excellent,” but fielding needed improvement to prevent opposing teams from getting any chances.
“After Ireland and England, the real test is the World Cup,” he added.
Israel lacks ‘credible plan’ to safeguard Rafah civilians, says Blinken
- Blinken said Biden determined to help Israel defend itself and shipment of 3,500 2,000-pound and 500-pound bombs was only US weapons package being withheld
WASHINGTON: US Secretary of State Antony Blinken on Sunday defended a decision to pause a delivery to Israel of 3,500 bombs over concerns they could be used in the Gazan city of Rafah, saying Israel lacked a “credible plan” to protect some 1.4 million civilians sheltering there.
Speaking to ABC News’ This Week, Blinken said that President Joe Biden remains determined to help Israel defend itself and that the shipment of 3,500 2,000-pound and 500-pound bombs was the only US weapons package being withheld.
That could change, he said, if Israel launches a full-scale attack on Rafah, which Israel says it plans to invade to root out fighters of the ruling Hamas militant group.
Biden has made clear to Israel that if it “launches this major military operation to Rafah, then there are certain systems that we’re not going to be supporting and supplying for that operation,” said Blinken.
“We have real concerns about the way they’re used,” he continued. Israel needs to “have a clear, credible plan to protect civilians, which we haven’t seen.”
Rafah is hosting some 1.4 million Palestinians, most of them displaced from elsewhere in Gaza by fighting and Israeli bombardments, amid dire shortages of food and water.
The death toll in Israel’s military operation in Gaza has now passed at least 35,000 Palestinians, according to Gaza’s Hamas-run health ministry.
The war was triggered by the Hamas-led attack on southern Israel on Oct. 7 in which some 1,200 people were killed and more than 250 people taken hostage, according to Israeli tallies.
Israel says 620 soldiers have been killed in the fighting.
Closing bell: Saudi main index slips to close at 12,217
RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Sunday, losing 67.36 points, or 0.55 percent, to close at 12,217.05.
The total trading turnover of the benchmark index was SR5.33 billion ($1.42 billion), as 78 of the stocks advanced while 147 retreated.
On the other hand, the Kingdom’s parallel market Nomu rose 109.49 points, or 0.40 percent, to close at 27,195.93. This comes as 30 of the stocks advanced while as many as 27 retreated.
Meanwhile, the MSCI Tadawul Index slipped 7.05 points, or 0.46 percent, to close at 1,530.49.
The best-performing stock of the day was Saudia Dairy and Foodstuff Co. The company’s share price surged 9.97 percent to SR386.20.
Other top performers include Saudi Chemical Co. as well as Al-Jouf Agricultural Development Co.
The worst performer was Thimar Development Holding Co. whose share price dropped by 9.94 percent to SR14.14.
Other subdued performers included Tanmiah Food Co. and Walaa Cooperative Insurance Co.
On the announcements front, Etihad Etisalat Co., also known as Mobily, released its interim financial results for the period ending on March 31.
According to a Tadawul statement, the company’s net profit hit SR638 million in the first quarter of 2024, reflecting a 37.2 percent surge compared to the same quarter last year.
The increase was mainly driven by a rise in gross profits and a jump in earnings before interest, tax, depreciation, and amortization. While operating expenses also increased, financial charges, zakat, and income tax decreased.
Moreover, the Tanmiah Food Co. also announced its interim financial results for the first three months of 2024.
A bourse filing revealed that the firm’s net profit reached SR21 million by the period ending on March 31, unchanged in comparison to the corresponding period in 2023.
Furthermore, Elm Co. announced its interim financial results for the year’s first quarter.
According to a Tadawul statement, the company’s net profits climbed 7.1 percent to reach SR345 million in the first three months of 2024 compared to the same period a year earlier.
This increase is primarily attributed to higher revenue, operating expenses, and income from Murabaha deposits.
Allianz Saudi Fransi Cooperative Insurance Co. also announced its interim financial results for the period ending on March 31.
A bourse filing revealed that the firm’s net profit stood at SR9.98 million at the end of the first quarter of 2024, up 4.01 percent when compared to the same quarter a year ago.
The increase in net profit after zakat and income tax for the current quarter compared to the same quarter of previous years is primarily due to an 86 percent rise in net investment income.
In addition, the United International Transportation Co., or Budget Saudi, announced its interim financial results for the first three months of 2024.
According to a Tadawul statement, the company’s net profit hit SR69.7 million in the first quarter of 2024, reflecting a 0.565 percent surge compared to the same quarter last year.
The surge in net profits is mainly attributed to steady growth in both long-term and short-term rental revenues.
Saudi Electricity Co. also announced its interim financial results for the period ending on March 31.
A bourse filing revealed that the firm’s net profit stood at SR897 million at the end of the first quarter of 2024, up 86.8 percent compared to the same quarter a year ago.
The surge in net profit for the current quarter compared to the corresponding quarter of the previous year is primarily attributed to increased revenue requirements, new earnings from development projects, and higher revenue from Dawiyat Co., among other factors.
Meanwhile, United Electronics Co., or eXtra, has announced that its shareholders approved the election of board members for the upcoming three-year term beginning May 13.
Dubai laboratory develops AI technology to detect Legionella bacteria
- The AI system works by pinpointing live colonies of the bacteria
DUBAI: Dubai Central Laboratory has developed an artificial intelligence technology able to detect Legionella pulmonary bacteria, the first of its type in the Middle East region, the Emirates News Agency reported on Sunday.
The system works by pinpointing live colonies of the bacteria, which causes a variety of acute respiratory infections, and delivers examination results with an accuracy rate in quantifying bacterial counts of 99 percent, the report said.
The technology also streamlines work processes by reducing reliance on laboratory supplies, leading to faster completion times.
“This revolutionary method of detecting Legionella pulmonary bacteria is among the latest to be accredited globally by the European Water Testing Network. It also has a certificate of recognition from AOAC International,” Hind Mahmoud Ahmed, director of the Dubai Central Laboratory Department, said.
“The technology is very accurate and quick to produce results, typically needing 48 hours as opposed to the 14 days that traditional methods require.”
Laboratories conduct more than 100,000 tests every year to ensure the safety of various goods sold in Dubai.
UK investigating Hamas’ claim that British hostage killed in Gaza
- Foreign secretary confirms viewing video
LONDON: The UK’s Foreign Office said on Sunday it was investigating a claim by Hamas that a British-Israeli hostage in Gaza had died from injuries sustained in an Israeli airstrike over a month ago.
Nadav Popplewell, 51, was captured along with his mother Channah Peri on Oct. 7 during a border incursion when the Palestinian group launched a surprise attack on Israel.
The Foreign Office said it was actively seeking more information on the matter.
Popplewell’s family has requested media outlets refrain from airing footage released by Hamas, showing him in captivity with visible injuries, the BBC reported.
The UK’s Foreign Secretary David Cameron, speaking to the BBC’s Laura Kuenssberg, confirmed viewing the video but provided no further updates on the investigation.
Cameron said: “We don’t want to say anything until we have better information.”
He described Hamas as “callous” for releasing the video and playing “with the family’s emotions in that way.”
The Foreign Office added that the department’s thoughts “are with his family at this extremely distressing time.”
The Israeli military has not issued a statement on the matter.
Israel’s military campaign in Gaza to destroy Hamas has killed over 34,900 people, the majority of whom are women and children, according to the Gaza Health Ministry.
Israel has reported that 128 hostages are unaccounted for.
