Saudi Border Guards foil attempt to smuggle drugs by boat

Millions of tablet were seized by authorities. (Saudi Border Guards photo)
Updated 24 April 2018
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Saudi Border Guards foil attempt to smuggle drugs by boat

  • Border guards seized 2,851,500 amphetamines tablets and 1.5 kilos of opium
  • Suspects have been handed over to relevant authorities for further action: border guard spokesman

JEDDAH: Saudi Arabia’s Border Guards foiled an attempt to smuggle a massive drugs haul into the northwestern province of Tabuk on Sunday.

Border guards found 2,851,500 amphetamines tablets and 1.5 kilos of opium on a boat being used to cross to the maritime borders of Tabuk, the Saudi Press Agency reported.

Two Egyptian nationals on board the boat were arrested, while two Saudi nationals who were receiving the narcotics were also held.

The Border Guards’ spokesman, Col. Saher bin Mohammed Al-Harbi, said the suspects have been handed over to relevant authorities for further action.

Last month, the German Federal Police organized training for 11 Saudi women working at the General Directorate of Border Guards.

Al-Harbi said development and training of women in the Border Guards was part of a global skills program. 

“The program represented an important step by training technical personnel to perform their duties effectively,” he said.

Al-Harbi said the training sessions respected the morals of the Islamic religion regarding privacy and protection of women.

The Border Guards training program has the support of Crown Prince Mohammed bin, the spokesman said. 


Closing Bell: Saudi benchmark index edged down to close at 12,381

Updated 8 min 10 sec ago
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Closing Bell: Saudi benchmark index edged down to close at 12,381

RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Sunday, losing 102.46 points, or 0.82 percent, to close at 12,381.95.

The total trading turnover of the benchmark index was SR3.64 billion ($972 million), as 29 of the stocks advanced while 201 retreated.  

Nomu, the Kingdom’s parallel market, also dropped 414.9 points, or 1.55 percent, to close at 26,277.06. This comes as 11 of the stocks advanced while as many as 50 retreated.

Meanwhile, the MSCI Tadawul Index slipped 9.52 points, or 0.61 percent, to close at 1,553.88. 

The best-performing stock of the day on the main index was Al-Baha Investment and Development Co. The company’s share price surged 7.69 percent. 

Other top performers included Saudi Cable Co. as well as Fawaz Abdulaziz Alhokair Co.

The worst performer was ACWA Power Co., whose share price dropped by 5.76 percent to SR425.

Saudi Ground Services Co. as well as Al-Babtain Power and Telecommunication Co. also did not perform well.

On the announcements front, Saudi Tadawul Group approved the distribution of dividends worth SR276 million to shareholders for the fiscal year ending Dec.31, 2023, with SR2.3 per share and 23 percent share par value. 

Moreover, Dr. Sulaiman Al-Habib Medical Services Group announced its interim financial results for the period ending March 31. 

According to a Tadawul statement, the company’s net profit hits SR550 million in the first quarter of 2024, reflecting a 12.6 percent surge compared to the same quarter last year. 

The increase was mainly driven by revenue growth due to the jump in the number of patients.

Saudi Arabian Amiantit 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 SR474 million in the first quarter of the year, up 23,672 percent from the corresponding quarter in 2023. 

This climb is mainly attributed to the company’s accounting profits which amounted to SR639 million in the current quarter. 

Additionally, Arab National Bank announced its interim financial results for the first quarter of the year. 

According to a Tadawul statement, the firm’s net profits rose 15.73 percent against the same quarter of the prior year to hit SR1.23. 

The increase is primarily linked to net special commission income, net fees and commission income, and dividend income, among other reasons. 

Saudi Steel Pipe Co. also announced its interim financial results for the period ending March 31. 

A bourse filing revealed that the company’s net profit reached SR76 million in the first quarter of 2024, a 1,166 percent jump from the corresponding quarter in 2023. 

This rise is due to an increase in gross profit coupled with a decrease in selling, marketing, and distribution expenses and a drop in trade receivable bad debt provision. 

Meanwhile, Savola Group Co. announced the submission of an application to increase its capital by offering rights issues to the Capital Market Authority.  


Wiping out polio ‘not guaranteed,’ support needed — Bill Gates

Updated 27 min 8 sec ago
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Wiping out polio ‘not guaranteed,’ support needed — Bill Gates

  • Pakistan and the neighboring Afghanistan are the only two countries in the world where polio remains endemic
  • Gates warned against complacency in tackling the disease as he welcomed $500 million pledge from Saudi Arabia

LONDON: Success in the fight to wipe out polio is not guaranteed, according to tech billionaire turned philanthropist Bill Gates, whose foundation has poured billions into the effort.
Gates warned against complacency in tackling the deadly viral disease as he welcomed a $500 million pledge from Saudi Arabia on Sunday to fight polio over the next five years, bringing it in line with the US as one of the biggest national donors.
However, there is still a $1.2 billion dollar funding gap in the $4.8 billion budget for the Global Polio Eradication Initiative (GPEI) up to 2026, a spokesperson said. The new money from Saudi Arabia will go some way toward closing that.
Saudi Arabia has supported polio eradication for more than 20 years, but the significant increase in funding comes amid a “challenging” situation, said Abdullah Al Moallem, director of health at the King Salman Humanitarian Aid and Relief Center, the kingdom’s aid arm.
Cases of polio, a viral disease that used to paralyze thousands of children every year, have declined by more than 99 percent since 1988 thanks to mass vaccination campaigns.
But the aim of getting cases down to zero, particularly in the two countries where the wild form of the virus remains endemic – Afghanistan and Pakistan – has been held up by insecurity in the regions where pockets of children remain unvaccinated.
“It’s not guaranteed that we will succeed,” Gates told Reuters in an online call last week. “I feel very strongly that we can succeed, but it’s been difficult.”
The support of powerful Muslim countries such as Saudi Arabia would help, he added, particularly in addressing some lingering suspicions about vaccination.
The foundation said it would open a regional office in Riyadh to support the polio and other regional programs.
It is allocating $4 million to humanitarian relief in Gaza, to be distributed through UNICEF, it said. The King Salman Humanitarian Aid and Relief Center will also allocate $4 million, it said.
The first missed target for eradicating polio was in 2000, and the Bill and Melinda Gates Foundation is the largest donor trying to realize that goal.
“If we’re still here 10 years from now, people might be urging me to give up,” Gates said. “But I don’t think we will be. If things go well, we’ll be done in three years,” he said.


Foreign Minister Ishaq Dar appointed deputy prime minister of Pakistan

Updated 23 min 1 sec ago
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Foreign Minister Ishaq Dar appointed deputy prime minister of Pakistan

  • Dar, a chartered accountant and a seasoned politician, is considered closest ally of Nawaz Sharif, PM Shehbaz Sharif’s elder brother and three-time former PM 
  • Many believe Dar’s appointment indicates that Nawaz, who didn’t take PM’s office due to split mandate in Feb.8 vote, is trying to assert his control indirectly

ISLAMABAD: Pakistan Prime Minister Shehbaz Sharif has appointed Foreign Minister Ishaq Dar deputy prime minister of the country, the Pakistani government said on Sunday.
Dar, who is a former four-time finance minister of Pakistan, was earlier made the head of a special committee of PM Sharif’s cabinet on privatization.
The 73-year-old chartered accountant is considered to be the closest ally of PM Sharif’s elder brother, Nawaz Sharif, who is also a three-time former prime minister.
“The prime minister has been pleased to designate Mr.Mohammad Ishaq Dar, Federal Minister for Foreign Affairs, as Deputy Prime Minister with immediate effect and until further orders,” read a notification issued from the Cabinet Division.
Nawaz, who returned to Pakistan in October 2023 after having spent years in self-exile, was seen as the favorite candidate for the PM’s office ahead of the Feb. 8 national election and was widely believed to be backed by the country’s powerful army.
But the three-time former prime minister decided not to take the PM’s office after the Feb. 8 vote did not present a clear winner, leading to speculation that his role in the country’s politics had come to an end.
But many believe Dar’s appointment to the deputy prime minister’s slot is an indication that Nawaz is trying to assert his control of government through indirect ways.
Prior to Dar, Chaudhry Pervaiz Elahi was appointed the deputy prime minister of Pakistan in 2012.


NEOM hosts global financial institutions, showcases progress and investment opportunities

Updated 15 min 48 sec ago
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NEOM hosts global financial institutions, showcases progress and investment opportunities

RIYADH: Saudi giga-project NEOM hosted 52 global, regional, and local financial institutions, showcasing ongoing progress across key projects and highlighting investment opportunities.  

The meeting also reviewed the progress and latest developments in key NEOM undertakings, including The Line, Oxagon, Trojena, and Sindalah, scheduled to open later this year.  

The event showcased the giga-project’s commitment to sustainable growth and development, underscoring its focus on environmental, social, and governance principles.  

A notable aspect of the visit included a review of The Line, where dignitaries observed the rapid progress of phase one construction and gained deeper insights into the initiative’s design.  

Nadhmi Al-Nasr, CEO of NEOM, said: “Since inception, we have been establishing strong partnerships to help drive this grand vision forward. NEOM’s vast scale and expertise offer strong and ongoing commercial opportunities for global organizations, including financial institutions.”   

He added: “We were pleased to host guests from some of the world’s leading financial institutions in NEOM recently to discuss collaborative avenues. NEOM is open for business and we welcome all interested parties to be part of our continued success.”  

The event drew representatives from 24 international banks and financial institutions, including those from Germany, Spain, and France, as well as the UK, the US, and China. Additionally, representatives from Japan and South Korea attended the event.  

In addition, 13 regional banks from Qatar, Kuwait, and the UAE attended, alongside 15 financial institutions from Saudi Arabia.   

In June 2023, NEOM launched the largest public-private partnership for accommodation, valued at over SR21 billion ($5.67 billion).  

It also announced an SR37.5 billion joint venture with global logistics company Denmark’s DSV in October 2023 to provide logistics services for the giga-project.  

These announcements, along with other NEOM partnerships, were well-received by attendees at Discover NEOM China, an event held in Beijing, Shanghai, and Hong Kong earlier this month. The event attracted more than 500 senior business and industry leaders. 

SR10bn credit facility

NEOM also announced the signing of a credit facility worth SR10 billion to meet its short-term financing requirements.  

The facility, structured on Murabaha principles, is aimed at supporting the developmental stages of flagship projects like The Line, Oxagon, Trojena, and Sindalah.  

Al-Nasr emphasized the strategic alignment of these credit facilities with the Kingdom’s broader economic goals under Vision 2030.  

In a press release, he highlighted the collaborative effort of leading Saudi financial institutions in supporting one of the world’s most ambitious projects by providing diverse financing solutions that bolster NEOM’s infrastructure initiatives. 

The agreement has garnered significant attention, involving nine prominent banks such as the National Commercial Bank, Riyad Bank, and Saudi First Bank, alongside other key financial players.


Chants of ‘shame on you’ greet guests at White House correspondents’ dinner shadowed by war in Gaza

Updated 28 April 2024
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Chants of ‘shame on you’ greet guests at White House correspondents’ dinner shadowed by war in Gaza

  • “Western media we see you, and all the horrors that you hide,” crowds chanted at one point

WASHINGTON: The war in Gaza spurred large protests outside a glitzy roast with President Joe Biden, journalists, politicians and celebrities Saturday but went all but unmentioned by participants inside, with Biden instead using the annual White House correspondents’ dinner to make both jokes and grim warnings about Republican rival Donald Trump’s fight to reclaim the U.S. presidency.
An evening normally devoted to presidents, journalists and comedians taking outrageous pokes at political scandals and each other often seemed this year to illustrate the difficulty of putting aside the coming presidential election and the troubles in the Middle East and elsewhere.
Biden opened his roast with a direct but joking focus on Trump, calling him “sleepy Don,” in reference to a nickname Trump had given the president previously.
Despite being similar in age, Biden said, the two presidential hopefuls have little else in common. “My vice president actually endorses me,” Biden said. Former Trump Vice President Mike Pence has refused to endorse Trump’s reelection bid.
But the president quickly segued to a grim speech about what he believes is at stake this election, saying that another Trump administration would be even more harmful to America than his first term.
“We have to take this serious — eight years ago we could have written it off as ‘Trump talk’ but not after January 6,” Biden told the audience, referring to the supporters of Trump who stormed the Capitol after Biden defeated Trump in the 2020 election.
Trump did not attend Saturday's dinner and never attended the annual banquet as president. In 2011, he sat in the audience, and glowered through a roasting by then-President Barack Obama of Trump's reality-television celebrity status. Obama's sarcasm then was so scalding that many political watchers linked it to Trump's subsequent decision to run for president in 2016.
Biden’s speech, which lasted around 10 minutes, made no mention of the ongoing war or the growing humanitarian crisis in Gaza.
One of the few mentions came from Kelly O’Donnell, president of the correspondents’ association, who briefly noted some 100 journalists killed in Israel's 6-month-old war against Hamas in Gaza. In an evening dedicated in large part to journalism, O’Donnell cited journalists who have been detained across the world, including Americans Evan Gershkovich in Russia and Austin Tice, who is believed to be held in Syria. Families of both men were in attendance as they have been at previous dinners.
To get inside Saturday's dinner, some guests had to hurry through hundreds of protesters outraged over the mounting humanitarian disaster for Palestinian civilians in Gaza. They condemned Biden for his support of Israel's military campaign and Western news outlets for what they said was undercoverage and misrepresentation of the conflict.
“Shame on you!” protesters draped in the traditional Palestinian keffiyeh cloth shouted, running after men in tuxedos and suits and women in long dresses holding clutch purses as guests hurried inside for the dinner.
“Western media we see you, and all the horrors that you hide,” crowds chanted at one point.
Other protesters lay sprawled motionless on the pavement, next to mock-ups of flak vests with “press” insignia.
Ralliers cried “Free, free Palestine." They cheered when at one point someone inside the Washington Hilton — where the dinner has been held for decades — unfurled a Palestinian flag from a top-floor hotel window.
Criticism of the Biden administration's support for Israel's military offensive in Gaza has spread through American college campuses, with students pitching encampments and withstanding police sweeps in an effort to force their universities to divest from Israel. Counterprotests back Israel's offensive and complain of antisemitism.
Biden’s motorcade Saturday took an alternate route from the White House to the Washington Hilton than in previous years, largely avoiding the crowds of demonstrators.
Saturday's event drew nearly 3,000 people. Celebrities included Academy Award winner Da’Vine Joy Randolph, Scarlett Johansson, Jon Hamm and Chris Pine.
Both the president and comedian Colin Jost, who spoke after Biden, made jabs at the age of both the candidates for president. “I’m not saying both candidates are old. But you know Jimmy Carter is out there thinking, ‘maybe I can win this thing,’” Jost said. “He’s only 99.”
Law enforcement, including the Secret Service, instituted extra street closures and other measures to ensure what Secret Service spokesman Anthony Guglielmi said would be the “highest levels of safety and security for attendees.”
Protest organizers said they aimed to bring attention to the high numbers of Palestinian and other Arab journalists killed by Israel's military since the war began in October.
More than two dozen journalists in Gaza wrote a letter last week calling on their colleagues in Washington to boycott the dinner altogether.
“The toll exacted on us for merely fulfilling our journalistic duties is staggering," the letter stated. “We are subjected to detentions, interrogations, and torture by the Israeli military, all for the ‘crime’ of journalistic integrity.”
One organizer complained that the White House Correspondents' Association — which represents the hundreds of journalists who cover the president — largely has been silent since the first weeks of the war about the killings of Palestinian journalists. WHCA did not respond to a request for comment.
According to a preliminary investigation released Friday by the Committee to Protect Journalists, nearly 100 journalists have been killed covering the war in Gaza. Israel has defended its actions, saying it has been targeting militants.
“Since the Israel-Gaza war began, journalists have been paying the highest price — their lives — to defend our right to the truth. Each time a journalist dies or is injured, we lose a fragment of that truth,” CPJ Program Director Carlos Martínez de la Serna said in a statement.
Sandra Tamari, executive director of Adalah Justice Project, a U.S.-based Palestinian advocacy group that helped organize the letter from journalists in Gaza, said “it is shameful for the media to dine and laugh with President Biden while he enables the Israeli devastation and starvation of Palestinians in Gaza."
In addition, Adalah Justice Project started an email campaign targeting 12 media executives at various news outlets — including The Associated Press — expected to attend the dinner who previously signed onto a letter calling for the protection of journalists in Gaza.
“How can you still go when your colleagues in Gaza asked you not to?" a demonstrator asked guests heading in. "You are complicit.”
___ Associated Press writers Mike Balsamo, Aamer Madhani, Fatima Hussein and Tom Strong contributed to this report.