India, UAE agree to settle trade in local currencies  

India, UAE agree to settle trade in local currencies  
During his one-day visit, Modi met President Sheikh Mohamed bin Zayed Al Nahyan. (AFP)
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Updated 16 July 2023
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India, UAE agree to settle trade in local currencies  

India, UAE agree to settle trade in local currencies  
  • The two countries will set up a real-time payment link to facilitate easier cross-border money transfers 
  • Bilateral trade between the two countries was $84.5 billion in the year from April 2022 to March 2023 

NEW DELHI: India has signed an agreement with the United Arab Emirates that will allow it to settle trade in rupees instead of dollars, boosting India’s efforts to cut transaction costs by eliminating dollar conversions.

During a visit by India’s Prime Minister Narendra Modi to the UAE on Saturday, the two countries also agreed to set up a real-time payment link to facilitate easier cross-border money transfers.

The two agreements will enable “seamless cross-border transactions and payments, and foster greater economic cooperation,” said a statement from the Reserve Bank of India on Saturday.

India, the world’s third biggest oil importer and consumer and whose central bank last year announced a framework for settling global trade in rupees, currently pays for UAE oil in dollars.

Bilateral trade between the two countries was $84.5 billion in the year from April 2022 to March 2023.

An official with knowledge of the details of the agreement said India could make its first rupee payment for UAE oil to Abu Dhabi National Oil Co (ADNOC), Reuters reported on Friday.

The Reserve Bank of India said the two central banks agreed to link India’s Unified Payments Interface (UPI) and UAE’s Instant Payment Platform (IPP).

Such arrangements, which are a growing trend in Asia, typically lower the cost of payments.

Modi landed in Abu Dhabi earlier on Saturday for a one-day visit and met President Sheikh Mohamed bin Zayed Al Nahyan.

 


Denmark’s parliament adopts law banning Qur'an burnings

Denmark’s parliament adopts law banning Qur'an burnings
Updated 7 min 27 sec ago
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Denmark’s parliament adopts law banning Qur'an burnings

Denmark’s parliament adopts law banning Qur'an burnings
  • Over the summer, Denmark and neighboring Sweden became the focus of anger across several Muslim countries after a slew of protests involving burnings and desecrations of the Qur'an

COPENHAGEN: Denmark’s parliament on Thursday adopted a law criminalizing the “inappropriate treatment” of religious texts, effectively banning Qur'an burnings after a series of desecrations of Islam’s holy book sparked anger in Muslim countries over the summer.
The bill, which prohibits “inappropriate treatment of writings with significant religious importance for a recognized religious community,” was passed with 94 votes in favor and 77 opposed in the 179-seat Folketing.
“We must protect the security of Denmark and the Danes. Therefore, it is important that we now have better protection against the systematic insults we have seen for a long time,” Justice Minister Peter Hummelgaard said in a statement.
In practical terms, it will be forbidden to burn, tear or otherwise defile holy texts publicly or in videos intended to be disseminated widely.
Those who break the law, which will be evaluated after three years, risk a fine or up to two years in prison.
Over the summer, Denmark and neighboring Sweden became the focus of anger across several Muslim countries after a slew of protests involving burnings and desecrations of the Qur'an.
Nearly a thousand protesters attempted to march to the Danish embassy in Baghdad’s fortified Green Zone in late July following a call by firebrand cleric Moqtada Sadr.
In response to the worsened security situation, the Scandinavian country temporarily tightened border controls, but returned to normal on August 22.
Between July 21 and October 24 this year, 483 book burnings or flag burnings were recorded in Denmark, according to national police figures.

Initially announced at the end of August, the bill was amended following criticism that its first draft limited freedom of expression and would be difficult to enforce.
It was originally planned to cover objects of significant religious importance.
The first draft was also criticized by some — including politicians, artists, media and freedom of speech experts — as a return to a blasphemy law that Denmark abolished in 2017.
During a lengthy debate in parliament ahead of the vote, opposition lawmakers railed against the government, accusing it of sacrificing freedom of expression.
“It is a betrayal. A huge failure on the part of the government,” Inger Stojberg, leader of far-right Denmark Democrats, told parliament.
In 2006, a wave of anti-Danish anger and violence erupted in the Muslim world following the publication of caricatures of the Prophet Muhammad.
“Imagine that we are becoming the generation that curtailed freedom of speech. I hadn’t actually thought this would be — and certainly not after the Muhammad crisis. Back then, we stood firm,” Stojberg said.
In neighboring Sweden, the government has condemned desecrations of the Qur'an at protests while upholding the country’s constitutionally protected freedom of speech and assembly laws.
It has vowed to explore legal means of stopping protests involving the burning of holy texts in certain circumstances.
Denmark is not the only European country to have banned burnings of the Qur'an.
According to Denmark’s justice ministry, eight European countries — Austria, Belgium, Estonia, Finland, Germany, Italy, Poland and Romania — do so to varying degrees.
In Greece, for example, the burning of a sacred text can be banned if the act takes place in or near a religious site.
 

 


Saudi Arabia, France discuss economic cooperation, global aid

Saudi Arabia, France discuss economic cooperation, global aid
Updated 30 min 18 sec ago
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Saudi Arabia, France discuss economic cooperation, global aid

Saudi Arabia, France discuss economic cooperation, global aid
  • KSrelief, business and trade officials hold talks with visiting French parliamentarians, industry leaders
  • 40 French and 90 Saudi Arabian companies participate in Riyadh conference

RIYADH: Leading government and business representatives from Saudi Arabia and France held discussions on economic cooperation, global aid initiatives and human rights at a conference in Riyadh on Wednesday.

Dr. Abdullah Al-Rabeeah, supervisor-general of the Kingdom’s aid body KSrelief, briefed Amelia Lakrafi, chair of the French-Saudi Parliamentary Friendship Committee, on the nation’s efforts worldwide.

Al-Rabeeah, who is also an adviser at the royal court, said KSrelief has implemented 2,625 projects in 94 countries worth over $6 billion, and spent a further $483 million in various sectors, in cooperation with 175 international, regional and local partners, the Saudi Press Agency reported.

Meanwhile, the Kingdom’s Human Rights Commission President Dr. Hala bint Mazyad Al-Tuwaijri, had discussions with Lakrafi and her delegation on ways to improve cooperation.

Officials from Saudi Arabia’s National Industrial Development and Logistics Program also held talks with French representatives at the conference titled “France 2030 and Vision 2030: Toward Energy and Industry Transformation.”

The conference — attended by Industry and Mineral Resources Minister Bandar AlKhorayef and France’s Ambassador Ludovic Pouille — showcased over 40 French companies, 16 governmental entities from both sides, and 90 Saudi Arabia firms.

The expanded collaboration between Saudi Arabia and France will include skills training and support for startups.


Probe by rights groups, wire services finds Israeli attack on journalists in Lebanon was likely to have been intentional

Probe by rights groups, wire services finds Israeli attack on journalists in Lebanon was likely to have been intentional
Updated 41 min 11 sec ago
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Probe by rights groups, wire services finds Israeli attack on journalists in Lebanon was likely to have been intentional

Probe by rights groups, wire services finds Israeli attack on journalists in Lebanon was likely to have been intentional
  • Evidence suggests that the military had knowledge that the individuals were civilians
  • Intentionally targeting civilians is a war crime

LONDON: Investigations by Human Rights Watch, Amnesty International, Reuters, and Agence France-Presse have found that an Israeli attack on Oct. 13 was likely to have been a deliberate assault by the Israel Defense Forces on civilians, which is a war crime.

The attack killed journalist Issam Abdallah, from Reuters, and injured six others including Carmen Joukhadar and Elie Brakhya from Al Jazeera; Dylan Collins and Christina Assi from AFP; and Thaer al-Sudani and Maher Nazeh from Reuters. 

The reports include witness testimony and are based on analysis of videos, audio, munition remnants, and satellite imagery verified by the organizations, as well as multiple interviews with officials and civilians.

Aya Majzoub, Amnesty International’s deputy regional director for the Middle East and North Africa, said: “Our investigation into the incident uncovers chilling evidence pointing to an attack on a group of international journalists who were carrying out their work by reporting on hostilities.

“Direct attacks on civilians and indiscriminate attacks are absolutely prohibited by international humanitarian law and can amount to war crimes.”

The findings are in line with the Committee to Protect Journalists’ report “Deadly Pattern,” published in May, which showed lethal force by the Israel Defense Forces had left 20 journalists dead over the last 22 years, without any accountability.

The CPJ said it welcomed the four reports and “reiterates its call for an immediate, independent, and transparent investigation that holds the perpetrators to account.”

Ramzi Kaiss, Lebanon researcher at Human Rights Watch, said: “This is not the first time that Israeli forces have apparently deliberately attacked journalists, with deadly and devastating results.”

The attack on Oct. 13 occurred at around 6 p.m. The group of journalists had gathered as early as 4:45 p.m. in a clearing on a hilltop in Alma Al-Shaab, to film ongoing fighting on Lebanon’s southern border with Israel.

Journalists from Al Jazeera had conducted two live TV reports, the first at 4:55 p.m. and the second at 5:24 p.m., from the same location. 

Live transmissions by Reuters and AFP were also broadcast on air by several television stations during that period. 

The journalists had remained stationary for over 75 minutes before they were hit, and none of the evidence indicated the presence of any military target near the journalists.

All seven journalists were wearing helmets and blue ballistic vests with labels that said “PRESS,” and were clearly identifiable as journalists.

Footage also shows the group wearing the clearly marked vests and helmets in the same area, near a car marked with “TV” in large letters on its hood.

Five cameras belonging to journalists indirectly captured the attack and its aftermath, shedding light on how the attack was carried out and from where.

Evidence reviewed by the organizations indicates that the Israeli military knew or should have known that the people they were firing on were civilians.

The journalists interviewed said that the first attack struck Abdallah, killing him instantly, and badly injuring photojournalist Assi. 

Just 37 seconds later, the car owned by Al Jazeera was engulfed in flames and destroyed by a second attack, resulting in more injuries to journalists.  

Majzoub said: “Under international humanitarian law, parties to a conflict have a clear obligation to protect civilians, including journalists, and must at all times distinguish between civilians and civilian objects on one hand and fighters and military objectives on the other.”

HRW asserted that “warring parties are obligated to take all feasible precautions to avoid harm to civilians” and must “verify that targets are military objectives.”

It also suggested that Israel’s key allies, Germany, Canada, the US and the UK, “should suspend military assistance and arms sales to Israel, given the real risk that they will be used to commit grave abuses.”

Kaiss said: “The evidence strongly suggests that Israeli forces knew or should have known that the group that they were attacking were journalists.

“This was an unlawful and apparently deliberate attack on a very visible group of journalists.”


Putin in flurry of Gulf diplomacy

Putin in flurry of Gulf diplomacy
Updated 51 min 18 sec ago
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Putin in flurry of Gulf diplomacy

Putin in flurry of Gulf diplomacy
  • Russian president holds talks with Saudi, Emirati, Omani, Iranian officials — ‘What is happening in Gaza is of course genocide and a crime against humanity’: Iranian president

MOSCOW: Just a few hours after returning to Moscow from a visit to Saudi Arabia and the UAE, Russian President Vladimir Putin held talks with Omani Crown Prince Theyazin bin Haitham and Iranian President Ebrahim Raisi.

The talks are part of these countries’ efforts to relieve regional tensions in light of the Gaza conflict.

Palestine was one of the main topics of discussion between Putin and Raisi. “What is happening in Palestine, in Gaza, is of course genocide and a crime against humanity,” said Raisi.

“It is necessary to stop the (Israeli) bombing as soon as possible. This issue today is not only a matter for our region, it is a matter for all mankind, so a very quick solution should be found for this issue.”

Putin and Raisi affirmed their commitment to bolstering Russian-Iranian cooperation both bilaterally and within multilateral frameworks.

They also discussed the BRICS agenda under Russia’s presidency of the group in 2024. Saudi Arabia, the UAE and Iran will become full members on Jan. 1.

“Obviously, the role of BRICS in the world is increasing,” Yuri Ushakov, Putin’s assistant for international affairs, told journalists, adding that there will be discussions with potential members.


Spanish ace Rahm poised to join LIV Golf: Reports

Spanish ace Rahm poised to join LIV Golf: Reports
Updated 54 min 39 sec ago
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Spanish ace Rahm poised to join LIV Golf: Reports

Spanish ace Rahm poised to join LIV Golf: Reports
  • Multiple US media outlets reported on Thursday Major winner set to make the switch

LOS ANGELES: Spanish star Jon Rahm is poised to join LIV Golf in a deal worth hundreds of millions of dollars, multiple US media outlets reported on Thursday.
The 29-year-old two-time major champion, who had previously pledged his loyalty to the PGA Tour during golf’s bitter civil war, could sign for the Saudi-backed circuit by the end of this week, reports said.
The Wall Street Journal, Sports Illustrated and ESPN all reported on Thursday that the reigning Masters champion was finalizing a deal to quit the PGA Tour for LIV.
Rahm’s representatives have not commented on the reported deal, which reports have said could be worth between $300 million and $600 million to the Spaniard.
If Rahm’s defection to LIV is confirmed, he would become one of the biggest stars to join LIV, the upstart circuit whose emergence has upended the golfing world over the past two years.
The looming capture of Rahm comes as the PGA Tour and the Saudi backers of LIV Golf attempt to finalize the details of their bombshell merger announced in June.
A deadline of December 31 has been set to agree a framework for the new PGA-LIV joint venture.
The Journal speculated Rahm’s signing could either be a tactic by LIV’s backers to force the PGA Tour to conclude a deal by the agreed deadline, or a move to give fresh impetus to the rival circuit in 2024 if the proposed joint tie-up collapses.
The possibility of Rahm jumping ship to LIV had once seemed unthinkable.
While LIV successfully recruited major winners such as Brooks Koepka, Phil Mickelson, Dustin Johnson, Bryson DeChambeau and Cameron Smith, Rahm had been one of the most staunch PGA loyalists, repeatedly stating that the riches offered by LIV held no appeal when balanced against the tradition of the PGA Tour.
“I laugh when people rumor me with LIV. I’ve never liked the format,” Rahm said earlier this year.
Last year, Rahm said he had discussed the possibility of a move with his wife Kelley and decided to remain firmly in the PGA Tour camp.
“Money is great, but when Kelly and I started talking about it, we’re like, ‘Would our lifestyle change if we got $400 million?’ No,” Rahm said.
“It would not change one bit. Truth be told, I could retire right now and I could live a very happy life and not play golf again.
“I’ve never really played the game of golf for monetary reasons. I play for the love of the game, and I want to play against the best in the world.”
In February last year, Rahm had given a categorical assurance he would remain with the PGA Tour.
“This is my official, my one and only time I’ll talk about this, where I am officially declaring my fealty to the PGA Tour,” Rahm said.
“There has been a lot of talk and speculation about the Saudi league. It’s just not something I believe is the best for me and my future in golf, and I think the best legacy I can accomplish will be with the PGA Tour.”