Subscription to 1.05M shares of Al-Khaldi Logistics starts on Nomu today
Qualified investors will start on Tuesday May 27th subscribing to 1.05 million shares of Al-Khaldi Logistics Company. which will list shares on the Nomu-Parallel Market.
The offering will close on Sunday June 1st.
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Arab News
3 hours ago
- Arab News
US-backed Gaza aid group names evangelical as chairman
UNITED NATIONS: The U.S.-backed Gaza Humanitarian Foundation on Tuesday named as its executive chairman an American evangelical Christian leader who has publicly backed President Donald Trump's proposal for the United States to take over the Palestinian enclave. The appointment of Rev. Dr. Johnnie Moore, a former evangelical adviser to the White House during Trump's first term in office, came as health officials said at least 27 people died and more than 150 were injured trying to reach a GHF aid site. "GHF is demonstrating that it is possible to move vast quantities of food to people who need it most — safely, efficiently, and effectively," Moore said in the foundation statement. "GHF believes that serving the people of Gaza with dignity and compassion must be the top priority." • GHF says it has delivered some 7 million meals in Gaza • UN refuses to work with GHF, says aid distribution militarized • Israel accuses Hamas of stealing aid, Hamas denies it The GHF began operations one week ago under a distribution model criticized by the United Nations as the militarization of aid. The GHF says so far it has given out seven million meals from so-called secure distribution sites. It uses private U.S. security and logistics companies to get aid into Gaza. The U.N. and aid groups have refused to work with the GHF because they say it is not a neutral operation. U.N. aid chief Tom Fletcher has said it "makes aid conditional on political and military aims" and uses starvation as "a bargaining chip." The appointment of Moore could fuel U.N. concerns, given his support for the controversial proposal Trump floated in February for the U.S. to take over Gaza and develop it economically. After Trump proposed the idea, Moore posted video of Trump's remarks on X and wrote: "The USA will take full responsibility for future of Gaza, giving everyone hope & a future." 'BAD GUYS' The U.N. did not immediately respond to a request for comment on the appointment of Moore, who has accused the U.N. of ignoring "bad guys" stealing aid in Gaza. The U.N. has long-blamed Israel and lawlessness in the enclave for impediments getting aid into Gaza and distributing throughout the war zone. Israel has long accused Hamas of stealing aid, which the group denies. In a reference to the new GHF-led aid model, Israeli Prime Minister Benjamin Netanyahu last week said Israel was "taking control of food distribution" in Gaza. "The @UN & others should clean up their act & work with America," Moore posted on May 26. "Surely, these old U.S. & E.U.-funded humanitarian orgs won't let people starve in exchange for being 'right' when they know what they have done hasn't worked & has, in fact, made a terrible war worse?" The war in Gaza has raged since 2023 after Hamas militants killed 1,200 people in Israel in an October 7 attack and took some 250 hostages, according to Israeli tallies, and Israel responded with a military campaign that has killed over 54,000 Palestinians, according to Gaza health authorities. Moore visited Israel about three months after the 2023 Hamas attack and wrote: "Never have I seen such horror." Just a couple of weeks later, he posted a video titled "Come visit beautiful Gaza," which sought to portray Gaza as a tourist destination if it wasn't for Hamas militants. Trump has said Gaza has the potential to be "The Riviera of the Middle East." The United Nations has long endorsed a vision of two states living side by side within secure and recognized borders. Palestinians want a state in the West Bank, East Jerusalem and Gaza Strip, all territory captured by Israel in a 1967 war with neighboring Arab states.
Arab News
5 hours ago
- Arab News
Kazakhstan positions itself as major player with key partners in Middle East
ASTANA: As Kazakhstan positions itself to be a major player in the logistical, technological, and energy sectors, the Middle East could be a key partner for riding that train forward. The Astana International Forum took place in May, hosting dialogue on critical global issues. On the sidelines of the forum, Arab News spoke to several high-level Kazakh officials to discuss the country's collaboration with Middle Eastern countries in finance, energy and foreign policy. The largest economy in Central Asia, Kazakhstan's geopolitical profile provides immense global transit potential. With abundant natural and agricultural resources and a growing middle class, the nation has all the fundamentals for further growth and diversification, according to Nurlan Zhakupov, chief executive officer of sovereign wealth fund Samruk-Kazyna. Kazakhstan has attracted over $24 billion in foreign direct investment from strategic partnerships around the world, including Qatar and the UAE. In addition to being key partners in the oil and gas sectors, Middle Eastern countries provide opportunities in a range of other areas. Deputy Minister of Foreign Affairs Alibek Kuantyrov said: 'In general, GCC (Gulf Cooperation Council) countries are very important to (us). 'We have a lot of productive talks about mutual projects, from Kazakhstan to Saudi Arabia and Saudi Arabian investors to Kazakhstan.' Earlier this year, Mobile Telecom-Service LLP, one of two mobile communications subsidiaries of Kazakhstan's largest telecom company Kazakhtelecom, was acquired by Qatar's Power International Holding for $1.1 billion. Samruk-Kazyna is also in close talks with Saudi Arabia's Public Investment Fund, 'and we hope that soon these discussions will materialize into concrete projects,' Zhakupov said. The Kazakh fund's next big focus is logistics and transportation, aiming to double its cargo volume. Kazakhstan is additionally expanding its international transit capacity by building more ports across parts of Asia and Europe, including one in Abu Dhabi. Together with Abu Dhabi Ports, Samruk-Kazyna's subsidiary oil and gas company, KazMunayGas, operates a fleet of vessels in the Caspian Sea. This partnership is part of a bigger goal to expand China-Europe trade capacity through the Trans-Caspian Trade Route that connects Central Asia to the Caspian Sea; a path similar to the ancient Silk Road and through which 90 percent of Chinese cargo passes Kazakhstan. The Central Asian nation also has a strong focus on digitalization and renewable energy. Zhaslan Madiyev, the minister of digital development, innovation, and aerospace industry, said that a new artificial intelligence and cryptocurrency committee has been established. Kazakhstan is also one of the world's top 10 countries in crypto mining, with 60 operating mining firms and several mining pools. By amending laws and adding crypto ATMs, exchange shops and cards, 'the president's idea is to define a crypto city that will be completely crypto friendly,' the minister said. One of the major projects the ministry is working on is an International AI Center, a location for excellence focused on talent development, innovation, and economic growth in AI. The 20,000 sq. meters sphere-shaped center will be a regional hub for attracting international technological collaboration. The project will be part of a bigger ecosystem hoping to replicate the success of Astana Hub, an international technology park with 1,500 startups under its belt and an outreach across 20 cities worldwide, including a joint innovation hub in Riyadh, Saudi Arabia. Riyadh's Al-Farabi Innovation Hub opened in March 2024 with the intention of bridging startups from Kazakhstan, Central Asia and the Caucasus with the Middle East and North Africa markets. That same month, Kazakhstan's ed-tech startup CodiPlay partnered with Saudi Arabia's Artificially Intelligent Learning Assistant to bring digital education solutions to 200 Saudi schools, an initiative that aims to enhance IT literacy among students. Madiyev said: 'I believe there is a huge potential for bringing Saudi investments here and expanding Kazakhstan innovative startups and technologies to Saudi as well. 'With their startups and technologies, Saudi can access the whole Central Asia region through Kazakhstan, and we will be glad to access the Saudi market and the broader Middle Eastern region.' He also noted that another hub and acceleration program is set to open in Dubai in the fall of this year. When asked about plans to balance the environmental effects of AI and technology, the president's special representative on the environment told Arab News that nuclear power was a potential solution. 'It's really a big question of where your energy comes from. If it comes from coal, then there will definitely be a huge impact on the environment,' said Zulfiya Suleimenova, special representative of the president on international environmental cooperation. The country aims to have its share of nuclear in the national generation mix hit 5 percent by 2035. The first plant, expected to be completed in eight years, will be built in the Almaty region and is one of three planned nuclear power plants. One of the largest projects Kazakhstan has in the Middle East is an agreement with Masdar, the Emirati state-owned renewable energy company, signed between Samruk-Kazyna and the UAE's Prince Sheikh Khaled bin Mohamed bin Zayed Al-Nahyan in May this year. The agreement is two-fold. It will include the development of a 1 gigawatt wind farm in the Jambyl Region with a 600 megawatt-hour battery energy storage system, positioned to be one of the largest wind initiatives in Central Asia. Additionally, a 24/7 renewable energy project plans to provide up to 500 megawatts of baseload renewable energy with a capacity of up to 2 gigawatts. Kazakhstan aims to generate 15 percent of its electricity from renewable sources by 2030 and 50 percent by 2035. Other opportunities for joint environmental efforts in the Middle East are in water cooperation, Suleimenova said. The idea of the One Water Summit which took place in Riyadh last year was to drive more political momentum around water-related issues that otherwise do not get the same attention as other climate concerns. At the summit, nine international development banks committed to increase financing into water infrastructure and water-related projects — particularly in vulnerable regions — including the European Investment Bank. 'Back in 2023 when I was minister of ecology, I had the pleasure of meeting the Saudi minister of water, environment and agriculture, and am very (much) looking forward to continuing these discussions and cooperation and hopefully joint efforts,' said Suleimenova. The president's special representative noted that falcon and eagle diplomacy and the protection of these species was another key focus of collaboration between Kazakhstan and Saudi Arabia, and added: 'We hope to further our efforts and cooperation in biodiversity … including the preservation of eagles. They are the pride of our country and our people but also of your countries, of Saudi Arabia, the UAE, and others.' Discussions with Saudi Arabia's ACWA Power over the possibility of developing a 1GW wind energy and battery storage plant in Kazakhstan are also ongoing.
Arab News
6 hours ago
- Arab News
Saudi Hajj minister, Mobily sign cooperation agreement to enhance digital experience
RIYADH: The Saudi Minister of Hajj and Umrah Tawfiq Al-Rabiah, and Mobily's CEO Nezar Banabeela have signed a cooperation agreement in Riyadh to enhance the digital experience for pilgrims and visitors to the Kingdom. Mobily is to assess digital infrastructure solutions to elevate service quality and enrich the overall digital experience of pilgrims and visitors, the Saudi Press Agency reported on Tuesday. The partnership reflects the ministry's commitment to engaging the private sector in delivering services that facilitate a smooth Hajj and Umrah experience.
