Saudi Coalition Announces Unilateral Ramadan Ceasefire In Yemen Fighting; Within Hours, Houthis Reject
Good day from REEDNEWSARABWORLD for Wednesday, March 30, 2022!
First the Houthis offered a three-day truce, then Saudi Arabia's coalition countered with a ceasefire for the month of Ramadan. The Houthis quickly rejected the Hamadan offer. The Saudi-led coalition started the truce Wednesday, although Ramadan doesn't begin until the weekend. The Saudi move came as the six Gulf Cooperation Council countries met in Riyadh with Yemen factions to plan a peace approach and then how to rebuild Yemen. The Houthis rebels aren't attending the GCC conference, but did send a signal that they liked a United Nations plan for a prisoner exchange. The Houthis quickly rejected the latest offer for the Ramadan truce, saying a blockade must be lifted first. Lots of plans, and they will be needed: Ceasefires for Yemen have a history of falling apart.
The Red Cross says a prisoner exchange for Yemen is looking better. Lebanon's prime minister says he will stay in office to assure that the planned May 15 elections are held. Kurdistan's prime minister says his region can develop oil and gas, but that both Iran and Iraq are standing in the way. Qatar invests $5 billion in Egypt, showing improved relations, and Sudan's military chief replaces boards of 30 universities.
And news from Saudi Arabia, Iran, Kuwait, Lebanon, Tunisia, and More.
The Saudi-backed coalition fighting in Yemen announced a unilateral ceasefire for Ramadan. The rebel Houthis turned it down. The ceasefire started Wednesday, before the beginning of Ramadan, the Muslim holy month, in April. A coalition statement said it would cease military operations in Yemen, "creating a positive environment during the holy month of Ramadan for peace making in Yemen." Earlier, Yemen's Houthi forces had offered a three-day truce over the weekend, with prospects of a prisoner exchange. Within hours, the Houthis rejected the latest truce, for Ramadan.
AFP, Saudi-led coalition announces Yemen ceasefire from Wednesday.
Reuters, Saudi-led coalition to halt military operations in Yemen to help negotiations - SPA
Anadolu Agency, Saudi-led coalition to suspend military operations in Yemen during Ramadan.
The Saudi-proposed pause in the Yemen fighting started today, but the insurgent Houthis said they rejected the proposal. There was no immediate confirmation on whether hostilities had stopped. The Houthis said they turned down the offer over the continuing closure of the Sanaa airport and restrictions on ports.
Associated Press, Saudi-offered, rebel-rejected ceasefire starts in Yemen war.
Previous unilateral ceasefires for Yemen have collapsed, and the new ceasefire proposal raises doubts about how the rebel Houthis in Yemen might respond. The Saud-led coalition's ceasefire is tied to peace and planning talks that started in Riadyh this week, with the rebel Houthis refusing to attend. A potential prisoner swap is also on the table.
CBC, Saudi-led coalition's announced ceasefire in Yemen raises doubts.
Saudi Arabia hosted factions from Yemen in a new round of talks that are expected to take more than a week. The talks are sponsored by the six-state Gulf Cooperation Council and parallel a truce plan drafted by UN special envoy for Yemen Hans Grundberg, which calls for allowing fuel ships and some flights into Houthi-held areas of Yemen. Although the rebel Houthis rejected attending the meetings in Riadyh, a statement described the UN initiative as positive.
Reuters, Saudi Arabia hosts Yemen talks, focus on truce with absent Houthis.
The Red Cross says a new prisoner exchange between Yemen's warring sides is looking increasingly possible. "We were pleased to hear that some progress was made in the negotiations by the parties of another large release operation," Basheer Omar, a Red Cross spokesman in Yemen, said. A total of 2,223 prisoners from both sides could be released in an exchange. The last prisoner swap was in 2020.
The National, Yemen: Red Cross 'hopeful' new prisoner swap deal is close.
U.S. Secretary of State Antony Blinken is assuring Arab Gulf states that Washington will help fend off attacks from Yemen's Houthi forces. Blinken met in Morocco with the United Arab Emirates leader Mohammed bin Zayed Al Nahyan and Moroccan officials. Blinken said the United States is "determined to do everything we can to help you defend yourselves" against attacks by the Houthi militia, which has stepped up rocket strikes on both Saud Arabia and the United Arab Emirates. He also asked regional allies to "speak out" against Russia's invasion of Ukraine
Al Jazeera, Blinken assures UAE leader of US help over Houthi rebels.
Saudi Arabia's oil chief said oil-producing Arab Gulf countries "could once rely on a collective effort to ensure their energy security," but "these pillars are no longer there." Prince Abdulaziz bin Salman spoke at the World Government Summit and said cross-border attacks on Saudi Arabia and the United Arab Emirates put into question their ability to supply oil to world markets, which he described as going through a "jittery period."
Associated Press, Saudi oil chief says energy security imperiled by attacks.
OPEC’s secretary general said oil-producing countries should ‘stay the course.’ Mohammad Barkindo, speaking a day ahead of an OPEC+ meeting called on “global leaders…to once again ensure an unhindered, stable and secure flow of energy.” OPEC+ is expected to stay the course by sticking with a plan for limited monthly oil production increases and not allowing larger amounts as sought by the United States and other Western countries.
Reuters, OPEC chief encourages OPEC+ to stay the course, remain vigilant.
The head of the Gulf Cooperation Council said the war in Ukraine will cause repercussions and "we will feel these repercussions by the beginning of summer."
Dr. Nayef Al Hajraf, secretary-general of the GCC, said the crisis in Ukraine marks the beginning of new world order that will impact "economic, strategic, military, and information levels." He said the world was looking for a post-pandemic future, "but now we are ahead of other calculations. The situation in Ukraine is now a starting point."
Khaleej Times, GCC must be ready to deal with Ukraine-Russia repercussions: Top Arab delegates.
Saudi Arabia is expected to increase pricing of its main crude oil product to a record high as the impact of Russia's invasion of Ukraine reverberates through world markets. The war in Ukraine, the biggest in Europe since World War II, has dented Western demand for Russian oil, as well as from Japan and South Korea, boosting prospects for Middle East suppliers like Saudi Arabia.
Bloomberg, Saudis may hike oil price to record as war reroutes flows.
Saudi Arabia's foreign direct investment reached the highest level in more than a decade. Investment in 2021 totaled $19.3 billion, the most since 2010. The bulk of that was from Saudi Aramco selling a $12.4 billion stake in an oil pipeline entity. Even without the sale, FDI would have been at its highest level since 2016.
Bloomberg, Saudi Arabia's FDI hit decade-high last year on Aramco deal.
Reuters, Saudi Arabia records net FDI growth of 257.2% in 2021 - state media.
Saudi Arabia's investment ministry announced more than half a billion dollars in new investments. Three e-commerce startups a health startup, a virtual networking company, and a venture capital fund will invest $608.5 million in the kingdom, creating 2,400 jobs. "In Saudi Arabia, the startup scene is thriving, and there is enormous potential for venture capitalists," Minister Khalid Al Falih said.
Al-Monitor, Saudi Arabia announces $600 million in new investment from startups, venture capitalist.
Qatar will invest $5 billion in Egypt, signaling increased improvement in relations between the two nations. An Egyptian statement said the package is meant to "strengthen economic and investment cooperation between the two brotherly countries." The statement didn't provide further details, and the announcement came as Qatar's foreign minister, Mohammad bin Abdulrahman Al Thani, wrapped up a visit to Cairo.
Associated Press, Qatar to invest $5 billion in Egypt as ties improve.
Fitch has affirmed Bahrain's long-term foreign currency issuer default rating at B+ with a stable outlook. The ratings agency said Bahrain has strong financial backing from partners in the Gulf Cooperation Council and a "robust macroeconomic outlook."
Fitch Ratings, Fitch affirms Bahrain at 'B+'; outlook stable.
Lebanon's prime minister will stay in office to assure the scheduled May 15 elections are held. Najib Mikati said "I won't be dragged into resigning so that it is not an excuse for obstructing parliamentary elections."
Reuters, Lebanese PM staying put to ensure May polls go ahead, he says.
Kurdistan's prime minister Masrour Barzani said its Iraqi region can develop oil and gas but at the expense of Iran. Recent attacks on the regional capital of Erbil and Iraqi legal actions against Kurdish supplies have demonstrated problems that oil-rich Kurdistan has with both Iran and Iraq.
The recent bombing of Erbil by Iran hit the home of a Kurdish businessman involved in the energy sector, and a Kurdish gas export plan could threaten Iran's place as a major supplier to Iraq and Turkey. The Iranian attack came soon after an Iraqi court ruled that all Kurdish crude oil should be handed over to the Iraq government, a decision Barzani said was political
Reuters, Iraq's Kurds face Iranian resistance to energy development, PM says.
Iran says it has completed studies of the Durrah gas field despite a deal between Saudi Arabia and Kuwait, and that drilling will start soon. Iran calls the rich gas field Arash; Saudi Arabia and Kuwait refer to it as Durrah. Iran's petroleum minister Javad Owji's statement about drilling is expected to further escalate tensions with the Saudis and Kuwait.
Upstream, Durra dispute: Iran to start drilling at Arash gas field, despite Saudi-Kuwaiti deal.
Kuwait's foreign minister Sheikh Ahmad Nasser Al-Mohammad Al-Sabah said the Durra gas field is a tripartite issue between Kuwait, Saudi Arabia, and Iran. Kuwait and Saudi Arabia recently signed a document to develop the Durra gas field, but Iran called the agreement illegal and said it owned a share, with some sea boundaries still undefined.
Reuters, Durra gas field is a tripartite issue between Kuwait, Saudi, and Iran, Kuwait FM says.
Oman's stock exchange plans to allow full foreign ownership in listed companies. The decision is seen as an effort to attract more inflows to its market and follows a similar move by Qatar. Oman's bourse plans to list 35 state-run companies in the next five years.
Bloomberg, Oman to allow full foreign ownership in listed companies.
Four people including a child were killed in a Syrian camp, caught in fighting between Kurdish forces and the Islamic State. The Syrian Observatory for Human Rights, a war monitoring group, said tension is rising in the Al-Hol camp in northeastern Syria after a three-hour fight between the Kurdish Syrian Democratic Forces (SDF) and ISIL. Another 10 people were reported wounded. The Kurdish forces are in charge of the camp, and ISIL cells are embedded in Al-Hol and other camps.
Al Jazeera, Clashes between ISIL and Kurds kill four in Syrian camp.
Sudan's military leader General Abdel Fattah al-Burhan dismissed the boards of 30 national universities and appointed new people to head the institutions. Burhan is tightening his grip after taking power in an October coup, and the head of the board of governors of the University of Khartoum, Sudan's most prominent university, said Burhan's decision was illegal.
Reuters, Sudan's military leader replaces university boards and heads.
MORE: Lebanon to activate maritime trade with Iran despite sanctions, Ya Libnan... PM Barzani discusses 'banking system' with UAE finance minister, Kurdistan24... Sudan's military leader seeks Saudi, UAE support, Al-Monitor... Algeria's Sonatrach confirms 'important' reserves discovered at Touggouart region, Reuters... World Bank approves $400 million for Tunisia to help vulnerable households, Reuters... EU to lend Tunisia 450 million euros and pledges investment, Reuters.
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