Philippines’ Duterte says city ‘liberated’ after siege

Smoke billows from destroyed buildings after government troops fired mortars at a Daesh position in Marawi on the southern island of Mindanao on Oct. 15, 2017. (AFP/Ferdinandh Cabrera)
Updated 18 October 2017
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Philippines’ Duterte says city ‘liberated’ after siege

MARAWI, Philippines: Philippine President Rodrigo Duterte on Tuesday declared a southern city “liberated from terrorists” after a five-month battle against militants loyal to the Daesh group.
Duterte made the declaration in a rain-soaked speech to troops in Marawi where they have been fighting the militants in clashes that have claimed more than 1,000 lives and displaced 400,000 people.
“Ladies and gentlemen, I hereby declare Marawi liberated from the terrorists,” Duterte said, speaking moments just after explosions and gunfire were heard in the city.
Duterte’s announcement came just hours after the military said it was still hunting down 20 to 30 fighters in the battle zone, including Malaysian militant leader Mahmud Ahmad.
On Monday, the military claimed a major breakthrough when it announced the death of Isnilon Hapilon, said by Duterte and security analysts to be the leader of an IS bid to declare a Southeast Asian caliphate as they suffer battlefield defeats in Iraq and Syria.


More Saudi sectors opened to foreign investment

The Cabinet amended the sectors excluded from foreign investment at the meeting chair by King Salman. (SPA)
Updated 34 min 20 sec ago
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More Saudi sectors opened to foreign investment

  • The amendment allows foreigners to invest in labor services and jobs, including recruitment offices; audio and video services; road transport services; and brokerage services for real estate

RIYADH: Saudi Arabia will allow foreigners to invest in audiovisual services, land transport and real-estate brokerages, the Cabinet decided on Tuesday.

The Cabinet amended what it described as types of activity that had been previously excluded from foreign investment, after concluding its weekly meeting chaired by King Salman.

The amendment allows foreigners to invest in labor services and jobs, including recruitment offices; audio and video services; road transport services; and brokerage services for real estate.

Meanwhile, about 320 foreign institutions have registered as qualified foreign investors in the Saudi stock market, the exchange’s chairwoman told the Future Investment Initiative in Riyadh.

Sarah Al-Suhaimi, chairwoman of the Saudi Arabian stock exchange (Tadawul), said 200 more are expected to register.

Global index provider MSCI classified the Saudi equity market as an emerging market in June, a move expected to attract billions of dollars of passive funds.

Al-Suhaimi said she expected the number of qualified foreign investors to increase before and after the inclusion in the index, which is expected to happen in phases coinciding with index reviews in May and August 2019.