DUBAI: Emirates Global Aluminium (EGA), one of the world’s largest aluminum producers, reported a 59 percent increase in 2017 net profit, thanks to strong production and higher metal prices.
The UAE-based producer reported net income of 3.3 billion dirhams ($898.3 million) last year, from revenue of 25.5 billion dirhams — a 20 percent increase on 2016 sales.
“Record cast metal production of 2.6 million tons from 2.5 million tons in 2016 and a continuing focus on cost control and operational efficiency contributed to EGA’s strong performance amid favorable conditions in the global aluminum market,” the company said in a statement.
Sales of value-added products to 336 customers in 54 countries, which attract considerably higher premiums over LME prices, increased by 87,000 tons in 2017 to 2.1 million tons, representing 82 percent of total turnover for the year.
“One area of particular success in 2017 stems from our development over more than 25 years of our own energy efficient smelting technology. All our reduction cells run on EGA technology, reducing costs and environmental emissions,” said Abdulla Kalban, EGA’s managing director and CEO.
“We also continued to progress well in 2017 on our strategic growth projects that are expanding our business upstream to secure the natural resources we need. Once complete, Al-Taweelah alumina refinery in Abu Dhabi and GAC, our bauxite mining project in the Republic of Guinea, will deliver value for decades to come as well as create further long-term growth opportunities for EGA.”
Work on EGA’s $3.3 billion Al-Taweelah alumina refinery project is 76 percent complete and first alumina is expected during the first half of 2019, the company said.
Once fully operational, the Al-Taweelah alumina refinery would meet 40 percent of EGA’s requirements, helping to secure the competitive supply of the feedstock for aluminum smelters.
The $1.4 billion Guinea Alumina Corporation bauxite mine project, meanwhile, is 37 percent complete, with first bauxite exports expected during the second half of 2019.
Emirates Global Aluminium posts sharp rise in profits
Emirates Global Aluminium posts sharp rise in profits
Army major killed in gunfight with militants in Pakistan’s southwest
- The intelligence-based operation was conducted in Zhob district of Pakistan’s restive Balochistan province
- Balochistan is the site of a low-level insurgency by separatists who have recently carried out multiple attacks
ISLAMABAD: An army major and three militants were killed in a gunfight in Pakistan’s southwestern Balochistan province, the Pakistani military said on Tuesday.
The exchange of fire occurred during an intelligence-based operation in Sambaza area of Balochistan’s Zhob district, according to the Inter-Services Public Relations (ISPR), the military’s media wing.
Security forces effectively engaged the militants and killed three of them, seizing weapons, ammunition and explosives from the scene.
“During the intense exchange of fire, leading his troops from the front, Major Babar Khan (age: 33 years, resident of District Mianwali) having fought gallantly, paid the ultimate sacrifice and embraced Shahadat,” the ISPR said in a statement.
“Sanitization operation is being conducted to eliminate any other terrorist present in the area.”
Balochistan, which borders Afghanistan, is the site of a low-level insurgency by separatists, who have recently carried out a number of attacks in the region.
In one of the major attacks, gunmen last month killed nine people, who hailed from the eastern Punjab province, after abducting them from a bus on a highway near the Noshki district. The outlawed Balochistan Liberation Army (BLA) group claimed responsibility for the attack.
Although the government says it has quelled militancy, violence by various groups has persisted in the region.
Biden administration is giving $1 billion in new weapons and ammo to Israel, congressional aides say
Biden administration is giving $1 billion in new weapons and ammo to Israel, congressional aides say
- The package being sent includes about $700 million for tank ammunition, $500 million in tactical vehicles and $60 million in mortar rounds, the aides said
- Israel has killed more than 35,000 Palestinians in Gaza, mostly women and children, according to the health ministry in the Hamas-run territory
WASHINGTON: The Biden administration has told key lawmakers it is sending a new package of more than $1 billion in arms and ammunition to Israel, three congressional aides said Tuesday.
It’s the first arms shipment to Israel to be announced by the administration since it put another arms transfer — consisting of 3,500 bombs — on hold earlier in the month. The administration has said it paused that earlier transfer to keep Israel from using the bombs in its growing offensive in the crowded southern Gaza city of Rafah.
The congressional aides spoke on condition of anonymity to discuss an arms transfer that has not yet been made public.
The package being sent includes about $700 million for tank ammunition, $500 million in tactical vehicles and $60 million in mortar rounds, the aides said.
There was no immediate indication when the arms would be sent. Israel is now seven months into its war against Hamas in Gaza.
The Wall Street Journal first reported the plans to move the package.
House Republicans were planning this week to advance a bill to mandate the delivery of offensive weaponry for Israel. Following Biden’s move to put a pause on bomb shipments last week, Republicans have been swift in their condemnation, arguing it represents the abandonment of the closest US ally in the Middle East.
The White House said Tuesday that Biden would veto the bill if it were to pass Congress. The bill also has practically no chance in the Democratic-controlled Senate. But House Democrats are somewhat divided on the issue, and roughly two dozen have signed onto a letter to the Biden administration saying they were “deeply concerned about the message” sent by pausing the bomb shipment.
In addition to the written veto threat, the White House has been in touch with various lawmakers and congressional aides about the legislation, according to an administration official.
“We strongly, strongly oppose attempts to constrain the President’s ability to deploy US security assistance consistent with US foreign policy and national security objectives,” White House press secretary Karine Jean-Pierre said this week, adding that the administration plans to spend “every last cent” appropriated by Congress in the national security supplemental package that was signed into law by Biden last month.
‘Long live Saudi Arabia!’: Tyson Fury’s father hails Kingdom, promises sons will only fight in KSA
- John Fury: Only Saudi Arabia could have set up Tyson-Usyk fight
- Tells Arab News he expects a good fight from the veterans on Saturday
RIYADH: The father of British boxing champion Tyson Fury has promised his sons will only fight in Saudi Arabia going forward as he hailed the hospitality of the people of the Kingdom, and even said he wants to be like them.
“Tyson Fury and the Fury family will only fight again in Saudi Arabia,” John Fury said. “This is where our heart is, we love it, the people love us”.
“Long live Saudi Arabia!” he said lifting his hands to the sky, during a passionate press conference in Boulevard City in Riyadh.
Tyson Fury faces Oleksandr Usyk for the undisputed heavyweight world title on Saturday at Kingdom Arena.
“I can’t express how much I enjoy this country and the people,” he said. “And I just want to be like them…because the worst man in Saudi Arabia is better than John Fury”.
“The Brits are traitors, aren’t they?’ Fury said, without elaborating on who he was referring to, and accused them of committing treason against ‘their King,’ a reference to Tyson’s nickname ‘Gypsy King’.
“Forget Great Britain, our heart, look here, beating in my body, is in Saudi Arabia because we get treated like proper people, how we deserve to be treated.”
He went on to say that Britain had never made him “feel well” and because “they could not get behind the champion,” they stand to miss out.
Saudi Arabia has become a hub for premier world boxing contests over the past few years with authorities investing heavily to bring the biggest bouts to local and international audiences.
Turki bin Abdulmohsen Alalshikh, the head of the Kingdom’s General Entertainment Authority, has spearheaded this boxing revival.
Fury snr. had high praise for the authority’s chief, “he has done the best job in the world,” he said, adding that only Saudi Arabia could have set up the Tyson-Usyk fight.
“Nobody could ever have put this fight on except Turki Alalshikh and the great Kingdom of Saudi Arabia.”
Previous bouts in the country have garnered the attention of fans globally and has marked the Kingdom as a new home of international boxing.
In March, British heavyweight Anthony Joshua knocked out Francis Ngannou in the second round.
Another member of the Fury family, Tommy, beat YouTuber-turned-fighter Jake Paul on points in a contest in Diriyah last year.
In 2022, Usyk successfully defended his belts in a rematch against Joshua in Jeddah on points, with the Londoner failing to win back his titles against the Ukrainian.
In 2019, Joshua defeated Andy Ruiz Jr. in a revenge match at Diriyah Arena in Riyadh after the American surprised the Brit with a defeat in New York.
George Groves was knocked out by Callum Smith in the seventh round in an all-British grudge match in Jeddah in 2018.
Tyson-Usyk was delayed in February after a freak cut to Tyson during sparring, but both spectators and organizers are glad that the boxing spectacle is set for this weekend.
Fury snr. told Arab News that both fighters are at the top of their game and are veterans of the sport.
“It’ll be a good fight”.
Court probing Ukraine, Gaza wars vows to defy threats
- Israel has killed more than 35,000 Palestinians in Gaza, according to Gaza’s Health Ministry
- In May of last year Russia put Kahn on its list of wanted persons after the court issued an arrest warrant against President Vladimir Putin for his role in the deportation of Ukrainian children to Russia as part of the war
UNITED NATIONS, United States: The International Criminal Court prosecutor said Tuesday he will not be intimidated by threats as his office probes possible war crimes in Ukraine and Gaza.
During a UN Security Council meeting on his probe into war crimes in Libya, prosecutor Karim Khan was challenged by the ambassadors of Russia and Libya, who criticized what they called his inaction as Israel wages war on Hamas in the Gaza Strip.
“One wonders if the effectiveness of the ICC on this track is affected by the fact that a new bipartisan bill has been submitted to the US Congress to sanction ICC officials involved in investigating not only the US but also its allies,” said the Russian ambassador Vasily Nebenzia.
Nebenzia was alluding to news reports that a bill to this end has been submitted to the US Congress.
Khan responded by citing what he said were threats against him and his office to make him halt his probes.
“We will not be swayed, whether it’s by warrants for my arrest or the arrest of elected officials of the court by the Russian Federation, or whether it’s by other elected officials in any other jurisdiction,” Khan said.
In May of last year Russia put Kahn on its list of wanted persons after the court issued an arrest warrant against President Vladimir Putin for his role in the deportation of Ukrainian children to Russia as part of the war.
In early May Kahn’s office said on X that the court’s “independence and impartiality are undermined, however, when individuals threaten to retaliate against the court or against court personnel.”
It did not say where the threats are coming from.
“Such threats, even not acted upon, may constitute an offense” against the ICC’s “administration of justice,” the office warned, calling for an end to such activity.
The court made this comment after US and Israeli media reports which suggested the ICC prosecutor could issue warrants against Israeli politicians including Prime Minister Benjamin Netanyahu and Hamas leaders.
“We have a duty to stand up for justice, to stand up for victims,” Kahn said Tuesday.
“And I am fully cognizant that there are Goliaths in this room. There are Goliaths with power, with influence” he said.
He added: “We have something called the law. All I can do is say that we will stand up to the best of our ability. We will stand up by the law with integrity with independence.”
Arab League Educational, Cultural and Scientific Organization meetings begin in Jeddah
- Participants discuss challenges Arab nations face in fields of education, culture and science, and potential solutions, including knowledge sharing and innovation
- The 121st session of the organization’s Executive Council on Tuesday and Wednesday will be followed on Friday by its General Conference
JEDDAH: Ministers and other representatives from 22 Arab nations gathered in Jeddah on Tuesday for the start of the 121st session of the Executive Council of the Arab League Educational, Cultural and Scientific Organization. The two-day session concludes on Wednesday and will be followed on Friday by the organization’s General Conference.
During the meetings, hosted by the Saudi National Committee for Education, Culture and Science, the participants will discuss important topics, initiatives and proposals related to knowledge sharing, scientific advancement, and innovation within the framework of the work of the organization, the Saudi Press Agency reported.
During the opening session, Hani Al-Moqbel, chairperson of ALESCO’s Executive Council, expressed deep concern about the ongoing crisis Palestinians face as a result of the war in Gaza between Israel and Hamas.
He unequivocally condemned and rejected a senseless and brutal conflict that has claimed the lives of countless civilians, including women, children and the elderly, and denounced as unacceptable the destruction by the Israeli military campaign of hospitals, religious sites, schools, cultural institutions and other infrastructure.
The council, led by its Saudi presidency, expressed its strong condemnation of the continued aggression, occupation and forced displacement in Gaza. Al-Moqbel said that such expressions are not merely procedural or symbolic, they represent a forward-thinking approach to fostering Arab unity, upholding core principles and bolstering shared values. In this way, he added, Arab nations can effectively tackle challenges and overcome hurdles on their paths to advancement.
Mohammed Walad Amar, the director general of ALECSO, highlighted the organization’s commitment to the promotion of the cultural heritage of Arab countries on the global stage. In keeping with this vision, he said, ALECSO has worked with several countries with the aim of securing recognition of more of their cultural treasures on the highly esteemed UNESCO World Heritage List.
As an example of its active engagement in these efforts, he noted that ALECSO took part in the UNESCO Culture and Education Ministers’ Conference in the UAE in February.
Other topics discussed on the opening day included challenges that Arab nations face in the fields of education, culture and science, innovative potential solutions to the problems, and ways to forge new partnerships that can broaden the horizons of education and thinking.
