Saudi Arabia calls for end to Israeli occupation of Palestinian territories

Dr. AbdulAziz Al-Rukabi, adviser to the Ministry of Foreign Affairs stressed that Saudi Arabia’s position on the Palestinian issue was firm and unwavering. (AFP)
Updated 09 November 2018
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Saudi Arabia calls for end to Israeli occupation of Palestinian territories

  • A UN resolution emphasizes the principle of the permanent sovereignty of peoples under occupation over their natural resources

DUBAI: Saudi Arabia has welcomed today’s resolution titled: The Permanent sovereignty of the Palestinian people in the Occupied Palestinian Territory, including East Jerusalem, and of the Arab population in the occupied Syrian Golan over their natural resources.
The resolution emphasizes the principle of the permanent sovereignty of peoples under occupation over their natural resources. It also sheds light on the exploitation of the Israeli occupation of natural resources on the Palestinian territories and other Arab territories occupied by Israel since 1967.
During the 73rd session of the United Nations General Assembly, Dr. AbdulAziz Al-Rukabi, adviser to the Ministry of Foreign Affairs said in his speech: “The Kingdom calls upon all countries of the world to be rational and respect the values and humanitarian principles of the United Nations and it urges them to unanimously endorse this important resolution, in order to end the long-term suffering of the Palestinian people that engendered many tragedies and disasters that went beyond the Palestinian people and reached the villages, lands, farms, fields, Islamic sanctity and every living creature.”
Rukabi pointed out that the Israeli occupation was tyrannical and despotic; the settlement projects and the burning of agricultural lands by the settlers, have expanded in a blatant manner that defies all international treaties and norms. It is time for these manipulative actions to stop, and it is time to respect and abide by human rights. The establishment of an independent Palestinian state with Jerusalem as its capital has become the best strategic choice to ensure peace in the region.
He also stressed that Saudi Arabia’s position on the Palestinian issue was firm and unwavering, rejecting Israeli policies that do not respect international laws and norms. He also called for ending the Israeli occupation and finding a comprehensive, lasting and fair solution based on the two-state solution and establishing an independent State of Palestine as of June 4, 1967, having Jerusalem as its capital.


Lebanon bank deposits up 4% on year

Updated 7 min 42 sec ago
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Lebanon bank deposits up 4% on year

BEIRUT: Bank deposits in Lebanon have risen by 4 percent on the year, Central Bank Governor Riad Salameh said on Thursday, and he maintained his economic growth outlook for 2018 at 2 percent.

In July Salameh had said he expected bank deposits to grow by more than 5 percent in 2018.

In October the World Bank and the International Monetary Fund (IMF) halved their growth outlook to one percent for Lebanon, where public debt is about 150 percent of gross domestic product.

“Lebanese banks have succeeded in maintaining foreign exchange inflows into their sector supported by (the central bank),” Salmeh said in a televised speech at a Beirut economic conference.

With growth low and traditional sources of foreign exchange — tourism, real estate and foreign investment — undermined by years of regional tension, Lebanon increasingly relies on dollars expatriate Lebanese deposit in local banks.

The banks buy government debt, which finances the country’s eye-watering public debt and twin deficits.

The central bank also brings in dollars through complex financial operations with local banks to boost foreign currency reserves needed to defend the Lebanese pound’s peg to the dollar.

However, deposits have been growing at a slower rate since war broke out in neighboring Syria in 2011, and deposit growth rates are closely watched.