GENEVA: UN humanitarian officials called Tuesday for urgent action to stop the escalating conflict in Lebanon from spiralling into a similar scene of devastation as seen in Gaza.
“We need to do everything we can to stop that from happening,” said Matthew Hollingworth, Lebanon country director for the United Nations’ World Food Programme.
Speaking from Beirut, he told a press briefing in Geneva that he spent the first half of the year coordinating WFP’s operations in Gaza before taking the helm of its Lebanon office, and was deeply concerned by the similarities.
“It is in my mind from the time I wake until the time I sleep, that we could go into the same sort of spiral of doom... We shouldn’t allow that to happen,” he said.
Israel’s war in Gaza, launched after Hamas’s October 7, 2023 attack inside Israel, has killed more than 41,900 people, mostly civilians, according to the health ministry in the Hamas-run territory. The UN has said the figures are reliable.
The October 7 attack left 1,206 dead, mostly civilians, according to an AFP tally based on official Israeli figures, which includes hostages killed in captivity.
The resulting conflict has spilled into Lebanon, with intensifying airstrikes and Israeli troops battling Hezbollah militants on the ground.
Israel’s bombardment of Lebanon has killed more than 1,100 people and displaced upwards of a million in less than two weeks.
Hollingworth said many people were fleeing because they “have watched over the last year as the war in Gaza has continued and neighborhoods have been decimated and pounded, and that is deep in their gut, in their hearts, in their minds.”
James Elder, spokesman for the UN children’s agency UNICEF, warned that “the commonalities are unfortunately absolutely there to be seen, whether it is displacement on the ground, impact upon children or language being used ... (to) soften the realities on the ground.”
“We are seeing the same patterns that we saw in Gaza,” added Jeremy Laurence of the UN rights office.
“The devastation is beyond belief for all people in Lebanon as it is in Gaza. We can’t let this happen again.”
Humanitarians are working to address the soaring needs, but Hollingworth insisted that what was needed was to “de-escalate.”
While WFP is currently able to reach around 150,000 people a day, they “need to be reaching, at this point, almost a million people per day,” he said.
At the same time, he highlighted that 1,900 hectares of agricultural land had been burned in southern Lebanon over the past year, mainly in the past couple of weeks, while 12,000 hectares of productive farmland had been abandoned.
“We have very significant needs moving forward,” Hollingworth said, lamenting that the WFP was facing a $115 million funding gap to cover the towering needs over the next three months.
The World Health Organization meanwhile said it had registered 16 attacks on health care in Lebanon since mid-September, leaving 65 health care workers dead and 40 injured.
At the same time five of the country’s hospitals were now non-functional and four were only partially functional, Ian Clarke, WHO’s deputy incident manager in the country, told reporters, speaking via video link from Beirut.
Nearly 100 primary health care facilities had also been forced to close, he said, warning that with limited access to care, “we are facing a situation where there is a much higher risk of disease outbreaks.”
UN warns Lebanon could face same ‘spiral of doom’ as Gaza
https://arab.news/zhue9
UN warns Lebanon could face same ‘spiral of doom’ as Gaza
- “We need to do everything we can to stop that from happening,” said Matthew Hollingworth, Lebanon country director for WFP
- “It is in my mind from the time I wake until the time I sleep, that we could go into the same sort of spiral of doom,”
Pakistan Taliban attack kills four paramilitary troops, police say
- The attack occurred in Kurram district, located on the border with Afghanistan, in Khyber Pakhtunkhwa province
- Pakistani Taliban militants are most active in Pakistan’s northwestern region and regularly target security forces
PESHAWAR: At least four Pakistani paramilitary troops were killed when local Taliban fighters attacked a security checkpoint in a northwestern border region, a police official said on Sunday.
The attack occurred in Kurram district, located on the border with Afghanistan, in Khyber Pakhtunkhwa province, where there has been a rise in violence in recent years.
“Heavily armed militants” launched the attack on Sunday morning, a police official told AFP on condition of anonymity because he was not authorized to speak to the media.
“At least four security personnel were martyred, and seven others were injured,” he said.
Violence has increased in Pakistan since the Afghan Taliban returned to power in Kabul in August 2021.
The Pakistani Taliban — known as Tehreek-e-Taliban Pakistan (TTP) — is the most active militant group in the northwestern region and regularly targets security forces.
Islamabad accuses Kabul’s rulers of failing to root out militants sheltering on Afghan soil as they prepare to stage assaults on Pakistan, a charge the Taliban government denies.
Last week, 13 civilians and five soldiers were killed when suicide bombers drove two car bombs into an army compound in the Bannu district of the same province.
Last year was the deadliest in a decade for Pakistan, home to 250 million people, with a surge in attacks that killed more than 1,600 people, according to the Center for Research and Security Studies, an Islamabad-based analysis group.
Bangladeshi businesses seek closer ties with UAE on skills development, trade
- Dhaka Chamber of Commerce and Industry recently signed MoUs with Dubai, Sharjah chambers
- Bangladeshi private sectors see UAE as ‘major gateway’ to Middle East, North Africa
Dhaka: Bangladeshi businesses are seeking closer ties with the UAE on skills development, trade and investments, the Dhaka Chamber of Commerce and Industry said on Sunday after it signed agreements with its Emirati counterparts to strengthen economic cooperation.
The UAE is Bangladesh’s largest trading partner in the Middle East, with their bilateral trade volume valued at around $2 billion in 2024.
The Gulf state — home to about 1.2 million Bangladeshi expats — is also Bangladesh’s fifth-largest foreign investor.
DCCI President Taskeen Ahmed led a 29-member business delegation to the UAE last month, where he signed preliminary agreements with the Dubai Chambers and the Sharjah Chamber of Commerce and Industry to boost trade and investments between their two countries.
Bangladeshi businesses are eyeing cooperation in a number of key areas, including trade and market access, energy and financial sectors, tourism and hospitality, infrastructure and logistics, Ahmed said.
“Closer trade relations between Bangladesh and the UAE present a significant opportunity to strengthen our economic landscape across multiple sectors. I firmly believe that enhanced trade ties with the UAE can be a game-changer for Bangladesh,” he told Arab News.
“The UAE serves as a major gateway to the Middle East, North Africa, and beyond. Expanding our trade partnership will create greater market access for Bangladeshi products.”
The Dhaka Chamber is also seeking stronger collaboration in technology and skills development.
“The UAE is highly advanced in digital infrastructure, logistics, and financial services. Stronger collaboration can facilitate knowledge transfer and capacity-building, helping Bangladeshi industries adopt global best practices, enhance productivity, and become more competitive,” Ahmed added.
Under the newly signed memoranda of understanding, DCCI is set to collaborate with its Emirati counterparts “to promote bilateral trade, investment matchmaking and joint economic discussions,” with activities focused on exchanging trade delegations and strengthening business networking platforms.
“To further boost collaboration, Bangladesh aims to activate the Bangladesh-UAE Business Council, focusing on trade finance, private equity, and expanding Islamic finance,” Ahmed said.
Business leaders from the two countries are also involved in discussions to set up training centers “to improve the skill set of Bangladeshi workers” who are seeking employment in the UAE, while a direct shipping route between Chattogram and Dubai is being discussed to enhance trade efficiency.
“I believe that this mutual cooperation will enhance the value of our national bilateral relations … These initiatives will further deepen the economic and trade relationship between Bangladesh and the UAE following the MoU signing.”
Qatar’s international reserves climb 3.81% to $70.29bn in February
RIYADH: Qatar’s international reserves and foreign currency liquidity rose 3.81 percent in February, reaching 255.916 billion Qatari riyals ($70.29 billion), up from 246.509 billion riyals in the same month last year.
According to the latest data from the Qatar Central Bank, official reserves increased by 9.218 billion riyals, totaling 196.817 billion riyals at the end of February, despite a 13.175 billion riyal decline in foreign bonds and Treasury bills holdings, which stood at 125.790 billion riyals, Qatar News Agency reported.
Official reserves comprise several components, including foreign bonds and treasury bills, cash balances with foreign banks, gold holdings, Special Drawing Rights, and Qatar’s quota at the International Monetary Fund.
In addition, the central bank’s total international reserves include other liquid assets in foreign currency deposits.
The figures reflect continued growth in Qatar’s international reserves, highlighting the country’s financial stability despite fluctuations in global markets.
Gold reserves saw a significant uptick, rising by 13.85 billion riyals to 38.263 billion riyals. Cash balances with foreign banks increased by 8.63 billion riyals, reaching 27.67 billion riyals. Conversely, SDR deposits at the International Monetary Fund decreased by 98 million riyals, totaling 5.09 billion riyals.
Qatar recorded a budget surplus of 900 million riyals in the fourth quarter of 2024, up from 100 million riyals in the previous quarter.
In January, the Ministry of Finance stated on its X account that the surplus would be used to reduce public debt. It added that total expenditures for the quarter stood at 47.8 billion riyals, a 12 percent year-on-year decline, while revenues totaled 48.7 billion riyals, reflecting a 12.5 percent drop.
The health, municipal and environment, general secretariat, and energy sectors ranked as the top-performing areas during the quarter, according to the Sector Performance Index.
Qatar’s fiscal performance aligns with other Gulf Cooperation Council nations, such as Oman, which recorded a 6.2 percent budget surplus in 2024.
This reflects the IMF’s December review, which highlighted the region’s resilience amid oil production cuts, supported by diversification efforts and economic reforms.
Qatar’s real gross domestic product is expected to grow by 2 percent in 2024-25, driven by public investment, liquefied natural gas spillovers, and a robust tourism sector, according to the IMF.
It projected the Gulf nation’s medium-term growth to average 4.75 percent, fueled by a significant expansion in LNG production and the early impact of reforms under the Third National Development Strategy.
Fitch affirms Kuwait’s rating at AA-, outlook stable
- Assets projected to rise to 601% of GDP this year from an estimated 582% in 2024
- Government planning to introduce long-delayed excise tax in fiscal year ending March 2026
RIYADH: Fitch Ratings has reaffirmed Kuwait’s Long-Term Foreign-Currency Issuer Default Rating at AA-, with a stable outlook due to the country’s strong fiscal position and external financial consistency.
The US-based agency said Kuwait’s external balance sheet remains the strongest of all Fitch-rated sovereigns, with the nation’s net foreign assets projected to rise to 601 percent of the gross domestic product this year from an estimated 582 percent in 2024.
According to Fitch, an AA- ranking indicates expectations of very low credit risk and a strong capacity for payment of financial commitments.
Kuwait’s strong rating aligns with the broader trend in the Middle East region, where countries steadily diversify their economies by reducing their dependence on crude revenues.
In February, Fitch Ratings affirmed Saudi Arabia’s IDR at A+ with a stable outlook, while the UAE was rated AA-.
The Kingdom’s A+ ranking indicates Saudi Arabia’s strong capacity to pay financial commitments while signifying low default risk.
“The recently-appointed government has initiated reforms aimed at reducing reliance on oil revenue, improving government efficiency, and rationalizing spending, capping it at 24.5 billion dinars ($79.53 billion), accounting for about 51 percent of GDP,” said Fitch Ratings.
The report further said that the Kuwaiti government’s introduction of a 15 percent domestic minimum top-up tax on multinational companies came into effect on Jan. 1. It is expected to generate about 0.5 percent of GDP, amounting to 250 million dinars annually, with collections expected to commence by 2027.
The government is also planning to introduce the long-delayed excise tax in the fiscal year ending March 2026.
“Fitch views the pick-up in reform efforts as positive. However, a significant overhaul of generous public wages and welfare spending (79 percent of total expenditure; 40 percent of GDP) is unlikely in the short term, given the state’s deep-rooted generosity toward Kuwaiti citizens and still favorable oil prices,” the analysis added.
The Kuwaiti government is also planning to pass a liquidity/debt law, which will enable the country to raise new debt.
The agency said even without a liquidity law, the government would still be able to meet its financing obligations in the coming years, given the substantial assets at its disposal.
Kuwait’s overall revenue is expected to decline in the financial year 2025 due to oil revenue loss from lower crude prices as OPEC+ continues production cuts to maintain market stability, according to Fitch.
The country’s non-oil revenues are expected to grow modestly in the financial year but fall short of the government’s target of 2.9 billion dinars.
The study further said that the Kuwait government’s debt to GDP rose to 6 percent in FY25 and 9.2 percent in FY26, despite a $4.5 billion Eurobond maturing in March 2027.
The report also outlined some constraints that affected Kuwait’s rating, including the country’s weaker governance than peers, heavy dependence on oil, and its generous welfare system and large public sector, which could result in long-term fiscal pressure.
“Prospects remain unclear for meaningful fiscal adjustment to address long-term challenges and legislation to allow debt issuance and improve fiscal financing flexibility, although there are emerging signs of progress,” said Fitch.
Sharaan Nature Reserve in AlUla: Stunning rock formations and a thriving habitat for wildlife
RIYADH: The Sharaan Nature Reserve stands as one of the most prominent natural landmarks in AlUla, spanning an area of 1,500 sq. km. It is distinguished by its unique rock formations shaped over millions of years, which create breathtaking landscapes that reflect the region’s geological heritage.
The reserve is included in efforts by the Royal Commission for AlUla to protect the environment and wildlife. It provides a safe habitat for many endangered species, including the Arabian oryx, Nubian ibex, Arabian gazelle, hare, wolves and birds of prey that nest in its rocky heights.
Sharaan Reserve is an ideal destination for nature and adventure enthusiasts, offering opportunities to explore its stunning rock formations, embark on safari trips, hike mountainous trails and camp amid its remarkable terrain.
Visitors can immerse themselves in a unique experience surrounded by red rocks, sloping valleys, vast desert plains and scattered rocky plateaus, allowing direct interaction with nature and up-close exploration of its beauty.
The reserve also includes qualified teams trained by international wildlife conservation experts. They work around the clock to efficiently monitor and manage protected areas, implement surveillance programs, combat illegal hunting, and raise awareness among local communities about the importance of environmental preservation and ecosystem sustainability.
