BARCELONA: Barcelona have a reached an agreement in principle with Brazilian club Gremio to sign midfielder Arthur next year in a deal worth up to €40 million ($49.2 million), according to reports in Spain on Wednesday.
“FC Barcelona have taken an almost definitive step to seal the recruitment of Arthur,” wrote Catalan daily Sport, who reported the transfer fee would be €30 million with a further 10 million in bonuses.
Mundo Deportivo claimed Barca director of football Robert Fernandez went to Porto Alegre “to seal the transfer of Arthur, with whom the club have reached a deal starting from January 2019.”
SPORT claimed the player was to undergo a medical today.
The 21-year-old is expected to arrive during next season’s winter transfer window, although Madrid-based Marca suggested he could join the club this summer if Barca reduce the number of non-EU players in their squad.
Arthur starred in last year’s Copa Libertadores final as Gremio defeated Lanus of Argentina 3-1 on aggregate to claim the title for a third time.
But a leaked photograph of Fernandez alongside the Brazilian in a Barca shirt sparked controversy with the player still under contract at Gremio.
Barcelona reportedly agree deal for Gremio’s Arthur
Barcelona reportedly agree deal for Gremio’s Arthur
Top Afghan diplomat in India quits after $2 million gold smuggling reports
- Zakia Wardak was reportedly stopped last month on arrival at Mumbai airport, carrying 25 kilograms of gold
- The Afghan consul-general was not arrested because of her diplomatic immunity, but the gold was confiscated
NEW DELHI: Afghanistan’s top diplomat in India resigned days after she was reportedly caught by airport authorities smuggling nearly $2 million worth of gold into the country.
Zakia Wardak, the Afghan Consul-General in India’s financial capital Mumbai, posted a statement on social media platform X announcing her resignation.
Afghanistan’s embassy in New Delhi shut down in November, more than two years after the Taliban returned to power in Kabul following the collapse of the Western-backed government, leaving Wardak as the country’s most senior representative in India.
“It is with great regret that I announce my decision to step away from my role at the Consulate and Embassy in India, effective May 5, 2024,” Wardak said Saturday.
Indian media reports said Wardak was last month stopped by financial intelligence authorities at Mumbai airport on arrival from Dubai — along with her son — carrying 25 kilograms of gold.
She was not arrested because of her diplomatic immunity, the reports said, but the gold — worth around $1.9 million — was confiscated.
Wardak’s resignation leaves thousands of Afghan nationals, including students and businessmen, without any consular representation in India.
Most foreign nations — including India — do not officially recognize Afghanistan’s Taliban government, but acknowledge them as the de facto ruling authority.
In many Afghan missions, diplomats appointed by the former government have refused to cede control of embassy buildings and property to representatives of the Taliban authorities.
Wardak said in the statement that she had “encountered numerous personal attacks and defamation” over the past year.
Such incidents “have demonstrated the challenges faced by women in Afghan society,” she added, making no explicit reference to the gold allegations.
The Taliban authorities have full control of around a dozen Afghan embassies abroad — including in Pakistan, China, Turkiye and Iran.
Others operate on a hybrid system, with the ambassador gone but embassy staff still carrying out routine consular work such as issuing visas and other documents.
Most countries evacuated their missions from Kabul as the Taliban closed in on the Afghan capital in August 2021, although a handful of embassies — including Pakistan, China and Russia — never shut, and still have ambassadors in Kabul.
Netanyahu says ending Gaza war now would keep Hamas in power
- Israeli leader hardens his rejection of Hamas demands for an end to the Gaza war in exchange for the freeing of hostages
JERUSALEM: Prime Minister Benjamin Netanyahu hardened his rejection of Hamas demands for an end to the Gaza war in exchange for the freeing of hostages, saying on Sunday that would keep the Palestinian Islamist group in power and pose a threat to Israel.
Netanyahu said Israel was willing to pause fighting in Gaza in order to secure the release of hostages still being held by Hamas, believed to number more than 130.
“But while Israel has shown willingness, Hamas remains entrenched in its extreme positions, first among them the demand to remove all our forces from the Gaza Strip, end the war, and leave Hamas in power,” Netanyahu said.
“Israel cannot accept that.”
“Hamas would be able to achieve its promise of carrying out again and again and again its massacres, rapes and kidnapping.”
In Cairo, Hamas leaders held a second day of truce talks with Egyptian and Qatari mediators, with no apparent progress reported as the group maintained its demand that any agreement must end the war in Gaza, Palestinian officials said.
The war began after an assault by Hamas on southern Israel on Oct. 7 in which 1,200 people were killed and 252 hostages taken, according to Israeli tallies.
Israel’s ensuring military offensive has killed more than 34,600 Palestinians, according to the health ministry in the Hamas-ruled Gaza. The bombardment has devastated much of the coastal enclave and caused a humanitarian crisis.
Saudi bank loans increase by 11% in March to hit $712bn, fueled by real estate activities
RIYADH: Saudi banks extended loans worth SR2.67 trillion ($711.5 billion) in March, marking an 11 percent increase as compared to the same month in 2023, according to the latest official data.
Figures released by the Saudi Central Bank, also known as SAMA, showed personal borrowings accounted for 35 percent of this growth, while the remaining 65 percent went to the corporate sector, particularly for real estate activities, as well as electricity, gas, and water supplies.
Real estate financing for corporate dealings specifically surged by 27 percent in the third month of the 2024, marking the highest annual growth rate in 10 months, reaching SR275.2 billion.
A study by Mortor Intelligence, which used 2023 as a base year, estimated the Kingdom’s real estate market at $69.51 billion in 2024, and expects it to reach $101.62 billion by 2029, growing at a compounded annual growth rate of 8 percent between 2024 and 2029.
The surge in real estate and construction endeavors may have heightened the need for debt-based financing primarily sourced from the local banking sector. Saudi banks play a central role in the provision of loans for real estate projects.
According to SAMA data, new retail residential mortgage loans experienced a notable increase, reaching a 14-month high at SR7.63 billion in March. This marked a 5 percent rise compared to the amount granted in the same month last year and a 10 percent increase from the previous month.
In March, lending for home purchases accounted for the largest portion, comprising 64 percent of new mortgages to individuals, totaling SR4.91 billion. The most notable growth, however, was observed in apartment loans, surging by 28 percent to reach SR2.24 billion. Meanwhile, land loans experienced a more modest growth of 4 percent, reaching SR474 million in new mortgages.
One factor contributing to this growth could be the need for residential properties from expatriates arriving in the Kingdom, along with government initiatives aimed at modernizing the financial system.
In a March study by Knight Frank, a notable trend emerged among expatriates, with 68 percent expressing a strong preference for owning an apartment rather than a villa. This inclination was especially prominent among individuals aged 35-45 and 45-55.
Growth in lending for electricity, gas and water supplies came as the second contributor in corporate loans after real estate, registering an annual rise of 27 percent to reach SR147.42 billion in March.
According to an April report by Global Data, the key sectors in the Saudi Arabia power market are the residential sector, commercial sector, industrial sector, and others. In 2023, the residential sector had the dominant share in the power consumption market.
The American International Trade Administration also stated in a January report that Saudi Arabia has experienced rapid economic and population growth since the discovery of oil. The population is projected to increase to 40.1 million by 2030.
Due to limited water resources, the country continues to invest in desalination facilities to meet rising water demands, aiming to deliver 2.18 billion cubic meters per year of desalinated water.
The Ministry of Environment, Water, and Agriculture has allocated $80 billion for water projects, with the wastewater treatment services market also expanding steadily according to the report. In 2021, Saudi Arabia built 133 wastewater treatment facilities, marking a 14.66 percent increase from the previous year.
SAMA data also revealed that financing for professional, scientific, and technical activities soared by 54 percent, hitting SR6.4 billion, marking the highest annual growth rate among sectors.
Education loans also showed robust growth, with an annual increase of 28 percent to reach SR6.27 billion. Additionally, financing for administrative and support service activities rose by 20 percent, totaling around SR34.22 billion.
While the proportion of lending allocated to the scientific and education sectors may currently be modest, the Saudi government acknowledges their pivotal significance in driving the Kingdom’s comprehensive transformation agenda.
Recognizing the paramount importance of innovation and fostering a culture of scientific inquiry, the government has implemented diverse initiatives aimed at nurturing these sectors.
These efforts are believed to have played a part in the gradual increase in lending support extended to these sectors by financial institutions. As the Kingdom continues to prioritize knowledge-based industries and endeavors, further advancements and investments in these areas are anticipated to amplify, propelling the nation towards its ambitious developmental goals.
Saudi project clears 719 Houthi mines in Yemen
RIYADH: Saudi Arabia’s Project Masam cleared 719 mines in Yemen — which had been planted by the Houthi militia — between April 27 to May 3, according to a recent report.
Overseen by the Kingdom’s aid agency KSrelief, the project’s special teams destroyed 631 pieces of unexploded ordnance, 83 anti-tank mines, three improvised explosive devices, and two anti-personnel mines.
The explosives, which were planted indiscriminately by the Houthis across Yemen, posed a threat to civilians, including children, women and the elderly.
Project Masam is one of several initiatives undertaken by Saudi Arabia at the request of King Salman, which has cleared routes for humanitarian aid to reach the country’s citizens.
The demining operations took place in Marib, Aden, Jouf, Shabwa, Taiz, Hodeidah, Lahij, Sanaa, Al-Bayda, Al-Dhale and Saada.
A total of 439,132 mines have been cleared since the start of the initiative in 2018, according to Ousama Al-Gosaibi, the project’s managing director.
The initiative trains local demining engineers and provides them with modern equipment. It also offers support to Yemenis injured by the devices.
About 5 million people have been forced to flee their homes since the beginning of the conflict in Yemen, many of them displaced by the presence of land mines.
Masam teams are tasked with clearing villages, roads and schools to facilitate the safe movement of civilians and the delivery of humanitarian aid.
GCC chief stresses Islamic unity at OIC summit
RIYADH: Jasem Albudaiwi, secretary-general of the Gulf Cooperation Council, said that member countries value their Islamic roots and aim to strengthen ties with other Islamic nations at all levels.
“The GCC countries have always extended their hands for cooperation and to establish fruitful partnerships with all Islamic countries, believing in the importance of this deep connection derived from our culture, religion and prophetic tradition.”
He made the comments Saturday during the 15th session of the Islamic Summit Conference in Banjul, the capital of Gambia.
Delegations from the 57 OIC member states attended the conference, organized by the Organization of Islamic Cooperation under the theme “Enhancing unity and solidarity through dialogue for sustainable development.”.
In his speech, Albudaiwi, said: “Today, we gather while the world is facing numerous and escalating challenges. In light of these dangerous developments, the role of the GCC and the OIC as two active forces to confront the multiple crises in our region and the world as a whole becomes prominent.
“The common challenges we face require collective action and solidarity to promote the values of peace and prosperity, particularly considering what Palestine and the Gaza Strip are subjected to — a brutal attack by Israeli occupation forces.”
Albudaiwi also highlighted the key outcomes of the extraordinary Arab-Islamic joint summit held in Riyadh last year. This meeting led to the creation of a ministerial committee to travel the world, seeking to aid and protect the Palestinian people in Gaza by reducing violence, safeguarding civilians, and reviving peace initiatives.
He praised the role played by this committee in stopping the aggression in the Gaza Strip, a role that is aligned with those of the GCC and other Arab and Islamic organisations.
The GCC chief noted that after more than 211 days, the Palestinian people in Gaza continue to suffer from the ongoing violence perpetrated by the occupying forces, with 35,000 people — mostly children and women — having died at an average rate of 165 deaths per day.
He also pointed out the significant threats to security and stability, especially because the escalating crises in the Middle East are linked to the turmoil in Palestine and Gaza.
“The ongoing Israeli aggression requires us all to renew our commitment to collective and responsible action in supporting the Palestinian people and their legitimate rights,” he said.
Albudaiwi also emphasized the need to prioritize sustainable development in the agendas of the GCC and the OIC. “It requires all of us to work together to address the environmental and economic challenges that affect our countries and peoples. Additionally, we must enhance cooperation in the fields of science, technology, and innovation to support sustainable development projects.”
