MOSCOW: Russian President Vladimir Putin will hold talks on Tuesday with Palestinian President Mahmoud Abbas, who is visiting Russia, state news agency TASS reported.
Indian FM’s visit to Pakistan unlikely to thaw frosty ties, experts say
- Jaishankar has said he will not discuss bilateral relations during Pakistan visit
- High-level trip may still contribute to ‘slight improvement’ to India-Pakistan ties
NEW DELHI: External Affairs Minister S. Jaishankar’s visit to Islamabad is unlikely to thaw frosty relations between India and Pakistan as both countries struggle with their domestic issues, experts said on Monday ahead of the first such trip by a high-level Indian official.
The Ministry of External Affairs confirmed last Friday that Jaishankar will be leading the Indian delegation to attend the summit of the Shanghai Cooperation Organization — a 10-member trans-regional economic and security body established by China and Russia — from Oct. 15 to 16 in the Pakistani capital.
Jaishankar has said he will not discuss bilateral relations during the visit.
India has fought three wars with its nuclear-armed neighbor, including two over control of the disputed Kashmir region in the Himalayas.
India controls Jammu and Kashmir, which is part of the larger Kashmiri territory that has been the subject of international dispute since the 1947 partition of the Indian subcontinent into Hindu-majority India and Muslim-majority Pakistan.
Both countries, which claim Kashmir in full and rule in part, further downgraded their diplomatic ties in tit-for-tat moves in 2019, after India unilaterally stripped Jammu and Kashmir of its limited constitutional autonomy. In protest, Pakistan also suspended all bilateral trade.
“It would contribute in certain ways in thawing the relationship that has been frozen for the last 10 years and may provide an opportunity for India to construct, begin conversation with Pakistan,” Sanjay Kapoor, analyst and political editor, told Arab News.
Yet Pakistan’s political instability and security challenges are also a drawback to potential bilateral engagements, said Prof. Harsh V. Pant, vice president of the Observer Research Foundation in New Delhi.
“Pakistan is in such a febrile that who to talk to is a big question,” he told Arab News.
“The way political challenges are rising for the Pakistani government, they are quite substantive and there is no way in which a unified machinery exists … even if India wants to have a conversation with Pakistan and take that conversation forward.”
Unless “something fundamental shifts” in Islamabad concerning its approach to regional security and terrorism, Pant said that India will not be “very incentivized to engage with Pakistan.”
Cross-border terrorism was a top-of-mind issue for the Indian government, said Manish Chand, president of the think tank Center for Global India Insights.
“Pakistan has not done anything tangible, concrete” to address Delhi’s concerns over the matter, he told Arab News, adding that any dialogue with Islamabad also depended on the Indian public perception and mood, after Prime Minister Narendra Modi’s Bharatiya Janata Party lost its absolute majority in parliament in June.
“This government, the BJP, does not want to be seen as soft on Pakistan or cross-border terror, so they don’t want to take a political chance because that would mean that it could be they will face cracking political scrutiny,” Chand told Arab News.
Despite the challenges, Jaishankar’s trip should still be seen as a “very positive gesture” that may lead “to a slight improvement” in bilateral relations, which “may eventually lead to some tangible move leading to reengagement at some level or revival of the dialogue process,” he said.
But Prof. Siddiq Wahid, a Srinagar-based political analyst, said engaging with Pakistan is not a priority for the Indian government.
“The current Indian government is hampered by itself-image of India in the world. That self-image is of a major global player. As a result it thinks that time is on its side and it does not have to deal with Islamabad,” he told Arab News.
“Meanwhile, the regional rivalry between Delhi and Islamabad continues to fester.”
Pakistan’s deadline to file income tax returns ends today
- The Federal Board of Revenue had extended the Sept. 30 deadline by two weeks
- Pakistan has one of the lowest tax ratios in the world, according to the World Bank
ISLAMABAD: The deadline for Pakistanis to file their income tax returns ends today, Monday, following the expiry of a two-week extension given by the country's tax regulator.
Pakistan has one of the lowest tax ratios in the world, according to the World Bank. The South Asian country’s failure to generate tax revenues in higher amounts stems from the fact that it has a narrow tax base, low compliance rate, an inefficient tax administration and massive tax evasion, the international financial institution has said.
Pakistan’s Federal Board of Revenue (FBR) announced last month it had extended the Sept. 30 deadline for filing income tax returns to Oct. 14.
“The FBR made the decision in view of requests from various trade bodies, Tax Bar Associations and general public,” it said in a notification.
The International Monetary Fund (IMF) last month approved a $7 billion loan for Pakistan, critical for the South Asian country to meet its external financial obligations and strengthen its national currency. One of the key demands of the IMF from Pakistan has been to improve its tax administration and broaden its tax base.
The South Asian country aims to collect an ambitious $46 billion through taxes this financial year. Authorities have identified 4.9 million taxable persons in the country by using modern technology.
In Sept., Finance Minister Muhammad Aurangzeb announced the country’s tax filers this year had almost doubled from 1.6 million last year to 3.2 million. He also disclosed that last year Pakistan recorded at least 300,000 new tax filers while this year, the figure had already swelled to 723,000.
Closing Bell: TASI sheds points to close at 11,959, Nomu sees 1.28% rise
RIYADH: Saudi Arabia’s Tadawul All Share Index closed at 11,959.67 points on Monday, losing 109.54 points, or 0.91 percent.
The MSCI Tadawul 30 Index also fell 13.98 points, or 0.93 percent, to finish at 1,496.69.
The parallel market Nomu saw a gain of 321.54 points, or 1.28 percent, to conclude at 25,444.92.
The main index posted a trading value of SR7.3 billion ($1.94 billion), with 80 stocks advancing and 140 declining. Nomu reported a trade volume of SR107.6 million.
Despite TASI’s slowdown, Etihad Atheeb Telecommunication Co. saw growth in its stock as its share price surged 9.95 percent to SR107.20. Middle East Specialized Cables Co. followed next with its share price jumping 6.28 percent to close at SR43.15.
Al Majed Oud Co. was also among the top performers, climbing 5.82 percent to SR167.20. Middle East Healthcare Co. and Al-Etihad Cooperative Insurance Co. increased 4.66 and 4.54 percent to SR71.80 and SR22.58, respectively.
Conversely, Al-Baha Investment and Development Co. recorded the most significant dip, declining 7.89 percent to SR0.35.
ACWA Power Co. and Abdulmohsen Alhokair Group for Tourism and Development also experienced falls, with their shares dropping to SR441 and SR2.81, reflecting declines of 7.35 and 5.07 percent, respectively. Batic Investments and Logistics Co. and Fawaz Abdulaziz Alhokair Co. also reported losses.
Nomu’s performance was bolstered by Shatirah House Restaurant Co., also known as Burgerizzr, which saw a 29.97 percent jump to SR18.82.
Fesh Fash Snack Food Production Co. and Amwaj International Co. also recorded notable gains, with their shares closing at SR11.94 and SR45.60, marking an increase of 12.01 and 7.29 percent, respectively. Jahez International Co. for Information System Technology and Mayar Holding Co. also fared well.
On Nomu, Mohammed Hadi Al Rasheed and Partners Co. was the worst performer, declining by 10 percent to SR75.60. Other underperformers included WSM for Information Technology Co. and United Mining Industries Co., whose share prices dropped 5.13 percent and 4.71 percent to SR37 and SR32.40, respectively.
Yaqeen Capital Co. and Raoom Trading Co. were also among the worst performers.
Jarir Marketing Co. announced its financial results for the first nine months of the year recording a SR7.7 billion in sales, a 2.2 percent increase compared to the year before.
The company saw a marginal decrease in its net profits, recording SR698 million this year, compared to SR699 million the same period last year, according to a bourse filing.
The company’s growth is mainly due to the increase in sales of the smart phones section and the computer and tablets section.
The company’s gross profit also increased by 2.5 percent, which is higher than the percentage of increase in sales due to the relative improvement in the profit margin of smart phones as a result of the discounts received from vendors, the company stated.
“Although other income increased, but the net profit slightly declined at 0.2 percent, affected by the increase in selling and marketing expenses, general and administrative expenses, and non-operating expenses,” the filing added.
Jarir closes its Monday trading session at SR13, a 0.15 percent increase.
Father accused of Sara Sharif’s murder confessed to UK police, jurors told
- Sharif was found dead in August 2023 at her home in Woking, after what prosecutors say was a campaign of “serious and repeated violence”
LONDON: The father of Sara Sharif, a 10-year-old girl who was found dead in her home in Britain, told police “I beat her up too much,” prosecutors said at his murder trial on Monday.
Sharif was found dead in August 2023 at her home in Woking, a town southwest of London, after what prosecutors say was a campaign of “serious and repeated violence.”
Her father Urfan Sharif, 42, his wife and Sara Sharif’s stepmother Beinash Batool, 30, and the girl’s uncle Faisal Malik, 29, are on trial at London’s Old Bailey court charged with her murder.
The trio are alternatively charged with causing or allowing the death of a child. All three deny the charges against them and blame each other for her death, prosecutors say.
Prosecutor Bill Emlyn Jones told jurors on the first day of the trial on Monday that Urfan Sharif called British police, having fled to Pakistan after Sara Sharif’s death.
“He used what you may think is an odd expression,” Emlyn Jones said. “He said: ‘I legally punished her and she died’.”
Emlyn Jones said that Urfan Sharif also told police: “I beat her up. It wasn’t my intention to kill her, but I beat her up too much.”
The prosecutor said a note in Urfan Sharif’s handwriting was also found next to his daughter’s body, which read: “I swear to God that my intention was not to kill her. But I lost it.”
Emlyn Jones told the jury that each of Urfan Sharif, Batool and Malik “played their part in the violence and mistreatment which resulted in Sara’s death.”
The three defendants all deny responsibility for any of violence and abuse and each “seeks to deflect the blame onto one or both of the others,” Emlyn Jones said.
Urfan Sharif blames his wife Batool, Emlyn Jones said, and his apparent confessions to the police were designed to “protect the true guilty party.”
The prosecutor added that Batool’s case is that Urfan Sharif was a “violent disciplinarian” and that she was scared of him, while Malik says he was unaware of any abuse or violence.
The trial is expected to run until December.
India accuses Canada of ‘deliberate’ smear campaign in latest diplomatic row
- Last year’s murder of a Sikh separatist activist in Surrey is at the center of diplomatic row
- India ‘reserves the right to take further steps’ after latest allegations, foreign ministry says
NEW DELHI: India said on Monday that the Canadian government was deliberately smearing New Delhi for political gain, after being told by Canada that its envoy and other diplomats in Ottawa were named ‘persons of interest’ in an investigation.
India and Canada have been under diplomatic strain since last September, after Prime Minister Justin Trudeau said his country was investigating “credible allegations” that agents of the Indian government were involved in the killing of Hardeep Singh Nijjar, a Canadian citizen of Indian descent who was shot dead by masked gunmen in Surrey, British Columbia.
The Indian government rejected the allegation as “absurd” then, and the two countries expelled their senior diplomats in reciprocal moves. India also moved to suspend visa services for Canadian citizens, which have since been restored.
After over a year, the Indian Ministry of External Affairs said the government received diplomatic communication from Canada on Sunday “suggesting that the Indian High Commissioner and other diplomats were ‘persons of interest’”in an ongoing investigation.
“The Government of India strongly rejects these preposterous imputations and ascribes them to the political agenda of the Trudeau Government that is centered around vote bank politics,” the ministry said in a statement issued on Monday.
“This latest step follows interactions that have again witnessed assertions without any facts. This leaves little doubt that on the pretext of an investigation, there is a deliberate strategy of smearing India for political gains.”
The Canadian government “has not shared a shred of evidence” with New Delhi since their allegations last year, it added.
At the center of the Canadian investigation is Nijjar, who was an outspoken supporter of the Khalistan movement, which calls for a separate Sikh homeland in parts of India’s Punjab state.
The movement is outlawed in India and considered a national security threat by the government, which formally designated Nijjar as a terrorist.
He was shot dead last June outside a Sikh temple in Surrey, which has a significant number of Sikh residents.
Canada is home to the world’s largest Sikh community outside India — about 770,000 people, or 2 percent of its entire population.
The Indian government said Trudeau has long been hostile to India, adding that his government “has consciously provided space to violent extremists and terrorists to harass, threaten and intimidate” Indian diplomats and community leaders in Canada.
“India now reserves the right to take further steps in response to these latest efforts of the Canadian Government to concoct allegations against Indian diplomats,” the Foreign Ministry said.
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