Saudi Arabia, UAE, Bahrain and Egypt turn to top UN court in airspace feud with Qatar

A Qatar Airways Boeing 777-300 is moved on the Tarmac of Le Bourget airport on June 18, 2017. (AFP)
Updated 27 June 2018
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Saudi Arabia, UAE, Bahrain and Egypt turn to top UN court in airspace feud with Qatar

  • Both sides, the quartet and Qatar, are turning to the International Court of Justice in the Hague to hear their grievances
  • The quartet decided to submit the airspace case to the ICJ on the grounds that the International Civil Aviation Organisation was not competent to consider the dispute

Saudi Arabia, the UAE, Bahrain and Egypt said Wednesday they would file a complaint at the highest UN court against Qatar over alleged airspace violations.
Both sides, the quartet and Qatar, are turning to the International Court of Justice in the Hague to hear their grievances.
Saudi Arabia, the UAE, Bahrain and Egypt decided to submit the airspace case to the ICJ on the grounds that the International Civil Aviation Organisation was not competent to consider the dispute, Saudi and UAE state media said.
The UAE has filed two complaints with the ICAO over what Qatar’s rivals say are airspace violations that threaten civil aviation.
The UAE accuses Qatar of sending fighter jets to intercept passenger flights and a civilian helicopter in Bahraini airspace.
Doha has denied approaching any UAE-operated flights.
The Saudi-led bloc cut off relations with Qatar on June 5, 2017, accusing it of supporting terrorism and Iran, which Doha denies.
Qatar has also filed a case at the ICJ accusing the UAE of human rights violations.
Judges at the court in The Hague - which rules in disputes between countries - will start a three-day hearing at Doha’s request on Wednesday.
The row has left the small peninsula nation regionally isolated with its only land border closed, its state-owned airline barred from using its neighbours’ airspace.

 


Potential SABIC deal would affect Saudi Aramco IPO time frame, says CEO Nasser

Updated 20 July 2018
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Potential SABIC deal would affect Saudi Aramco IPO time frame, says CEO Nasser

JEDDAH: A potential deal to buy a stake in petrochemical maker SABIC would affect the time frame of Saudi Aramco's initial public offering (IPO), the oil firm's president and CEO Amin H. Nasser said Friday. 

The IPO of around 5 percent of Aramco, which was initially to take place this year but is now more likely to happen later, would be the world's biggest listing, raising up to $100 billion.

Nasser said that buying a stake in a chemical company like SABIC would positively affect Aramco's revenue, Al Arabiya reported.

“We are still in the very early stages of the discussion to buy a stake in SABIC,” the Aramco CEO said.

“Aramco is ready for the initial offer and the timing remains subject to the state's decision.”

Saudi Aramco said on Thursday it is looking at the possibility of buying a stake in SABIC, a move that could boost the state oil giant’s market valuation ahead of the planned IPO.
Aramco said in a statement that it was in “very early-stage discussions” with the Kingdom’s Public Investment Fund (PIF) to acquire the stake in SABIC via a private transaction. It has no plans to acquire any publicly held shares, it said.
In a separate statement, PIF also said talks about a sale were in early stages. “There is a possibility that no agreement will be reached in relation to this potential transaction,” it said.