Saudi Press

Saudi Arabia and the world
Friday, Nov 22, 2024

Global Tensions and Economic Moves: From Israeli Critiques of ICC to Saudi Financial Strategies

Israeli leaders denounce ICC's arrest warrants for Netanyahu as "absurd" while Lebanon's cancer patients face hardships amidst ongoing conflicts and economic strain.
Israeli Foreign Minister Gideon Saar has sharply criticized the International Criminal Court's issuance of arrest warrants for Prime Minister Benjamin Netanyahu, calling the move "absurd" and accusing the court of losing legitimacy. Meanwhile, the ICC's actions have also come under fire from Netanyahu’s office, which described them as "anti-Semitic," with Israel remaining firm in its resolve to defend its citizens against international pressure.

In neighboring Lebanon, the impact of ongoing conflicts continues to be felt acutely, as cancer patients like Ahmad Fahess and Ghazaleh Naddaf are caught in a difficult situation, struggling to access treatments amidst Israeli airstrikes and a strained healthcare system. The situation is further exacerbated by economic hardships, leaving many reliant on charity aid to balance essential needs and medical costs.

Meanwhile, across in Pakistan's Kurram district, sectarian violence reaches a new grim milestone as a deadly ambush on a Shiite convoy claims at least 38 lives, highlighting the persistent tensions between Sunni and Shiite communities. Prime Minister Shehbaz Sharif faces mounting pressure to address these sectarian clashes and provide security for affected regions.

Turning to international health news, Tedros Adhanom Ghebreyesus, head of the World Health Organization, has been released from a Brazilian hospital following a health scare during the G20 summit. Discharged after treatment for labyrinthitis and hypertensive crisis, Tedros is now poised to refocus on pressing global issues discussed at the summit, such as climate change and poverty reduction.

In Saudi Arabia, Ma'aden is set to expand its influence in the phosphate industry with a new capital increase worth $10.1 billion, strategically acquiring a significant stake in Ma’aden Wa’ad Al-Shamal Phosphate Co. This move signals the company's ambitious plans to consolidate its position in the market by raising its ownership to a commanding 85 percent.

Lastly, another Saudi company, Aramco, is seeking to optimize its finances by increasing borrowing to improve its capital structure amidst a dip in profits. Despite reporting a significant net profit, Aramco is actively navigating challenging market conditions, underlining the need for adaptable financial strategies to maintain its economic cornerstone status.
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