Foreign News
Saudi investment fund to buy 10% stake in Heathrow airport
Saudi Arabia’s Public Investment Fund (PIF) has agreed to buy a 10% stake in Heathrow airport from Spanish infrastructure giant Ferrovial.
Another 15% in its parent company, FGP Topco, will be sold to French-based private equity fund Ardian.
Ferrovial, which has owned a stake since 2006, announced that the deal was worth £2.37bn ($3bn). The transaction is still subject to regulatory conditions, according to the firm.
If approved, the deal would end Ferrovial’s investment in the UK airports’ operator which started at 56% but was reduced to 25% by 2013.
Other stakeholders in FGP Topco include Qatar Investment Authority, Caisse de dépôt et placement du Québec, Singapore’s GIC, Australian Retirement Trust, China Investment Corporation and Universities Superannuation Scheme.
The airport has been losing money this year because of its significant debt which is affected by aggressive hikes in the cost of borrowing.
The Civil Aviation Authority has also decided to lower passenger charges which go towards costs for terminals runways, baggage systems and security.
The average charge per passenger at Heathrow for 2023 is £31.57 but the regulator said this would fall to £25.43 in 2024 and “remain broadly flat” until the end of 2026.
It is understood bosses at Heathrow wanted charges to actually increase to more than £40, while airlines proposed they should be no more than around £18.50.
Saudi’s PIF is one of the world’s most active sovereign wealth funds with more than $700bn in assets thanks to its oil wealth, which has recently been investing in sport such as football and golf.
But the fund is controlled by Saudi Arabia’s prince Mohammed bin Salman Al Saud whose government has been accused of numerous human rights violations.
US intelligence has said it believes Prince Mohammed ordered the 2018 killing of a US-based journalist, Jamal Khashoggi, though the prince has been given immunity in the US and he has also been invited to visit the UK according to the Saudi Arabian embassy.
(BBC)
Foreign News
Myanmar pardons over 4,000 prisoners, including deposed president
Thousands of prisoners in Myanmar have been granted amnesty or had their sentences reduced. The pardon order by Min Aung Hlaing is one of his first official acts since the coup leader became president this month.
The move comes as the lawyer for jailed former leader Aung San Suu Kyi told the Reuters news agency that her sentence has been reduced. Former president Win Myint, detained since the 2021 coup, was also pardoned of his convictions, a statement from the presidency said.
Min Aung Hlaing approved an amnesty for 4,335 prisoners, Myanmar’s state television MRTV reported.
A communique on behalf of Min Aung Hlaing said “those serving death sentences shall have their sentences commuted to life imprisonment”, without naming specific prisoners.
“The President has pardoned Win Myint,” said another statement from Min Aung Hlaing’s office. Win Myint was “granted a pardon and the reduction of his remaining sentences under specified conditions”, MRTV said.
Suu Kyi, 80, is serving a 27-year sentence on charges her allies describe as politically motivated. Her sentence was cut by one-sixth, her lawyer told Reuters, but it remains unclear whether the Nobel Peace Prize winner will be allowed to serve the rest of her sentence under house arrest. Min Aung Hlaing placed Suu Kyi under arrest after the coup.
Amnesties typically happen as Myanmar marks Independence Day in January and its New Year in April.
Among those to be released are 179 foreign nationals, who will be deported. The amnesty also includes the commutation of all death sentences to life imprisonment, life sentences reduced to 40 years, and a one-sixth reduction in term lengths for all other prisoners.
[Aljazeera]
Foreign News
Naples bank robbers hold 25 people hostage then vanish through tunnel
Several armed men robbed a bank in broad daylight in Naples, holding 25 people hostage before making their escape via a tunnel.
Police surrounded a branch of Crédit Agricole in the southern Italian city shortly after the robbery began around midday local time (10:00 GMT).
Local outlets reported that they negotiated with the robbers before the hostages could be released, about two hours into the robbery.
Firemen could be seen smashing in a window with battering rams and helping people climb out from inside in videos shared on social media.
Some hostages simply shook off the shards of glass and walked on.
But others looked visibly shaken, crying and hugging their relatives. Six people, who were in a state of shock, were offered medical assistance.
One man later told local news site Fanpage.it that the robbers had locked them into a room and that, while they were armed, “they did not use violence”.
Nobody was seriously injured. “Thanks to the swift response… all the hostages were freed shortly after 13:30 without serious injuries,” regional official Michele di Bari said in a statement.
A large crowd of bystanders, local residents and firefighters gathered in the square waiting for developments, while ten of thousands of people tuned into a livestream from the scene of the crime.
Members of the special forces of the carabinieri armed police were urgently flown in from Tuscany.
It was not until several hours later that they stormed the bank by breaking a window.
Several shots and the loud noises of stun grenades could be heard on the live feed shortly after.
But by then, the robbers had reportedly escaped through a tunnel, local media reported. It was thought they could have vanished into the sewer system.
The video feed later showed a number of carabinieri and firefighters peering into a manhole nearby as a crowd continued to mill about the square.
Fanpage.it reported that it was not yet possibly to quantify the value of the loot taken because the robbers had seized personal safety deposit boxes rather than cash.
(BBC)
Foreign News
Iran says $270bn war loss must be compensated, as fresh talks with US loom
Iran has demanded that it receive compensation for the destruction caused by the United States and Israel’s attacks, as the country remains defiant and regional powers continue their attempts to mediate an end to the conflict.
Tehran’s envoy to the United Nations said on Tuesday that five regional countries must pay compensation, based on his accusation that their territories were used for launching attacks on Iran.
Iran has also raised the idea of compensation for damages to come through a Strait of Hormuz protocol, which would include a tax on ships passing through the waterway.
An early estimate indicates that Iran has suffered about $270bn in direct and indirect damages since the start of the US-Israel war on February 28, Iranian government spokeswoman Fatemeh Mohajerani said during an interview with Russia’s RIA Novosti news agency, published on Tuesday.
She did not provide further information, such as a breakdown of the damages, but said the issue of compensation was discussed in last week’s negotiations between Tehran and Washington in Pakistan, and will be raised in any potential future talks with the US and mediators.
The government has said it is still assessing the extensive damage dealt to Iran’s critical infrastructure, after oil and gas facilities, petrochemical companies, steel plants, and aluminium factories were repeatedly targeted, in addition to military complexes. These will take years to fully rebuild.
Bridges, ports and railway networks, universities and research centres, and several power plants and water desalination plants were also directly hit, while a large number of hospitals, schools and civilian homes were damaged or destroyed.
(Aljazeera)
-
Latest News7 days agoPNS TAIMUR & ASLAT arrive in Colombo
-
Latest News7 days agoPrasidh, Buttler set up comfortable win for Gujarat Titans
-
News4 days agoPNS TAIMUR & ASLAT set sail from Colombo
-
Latest News6 days ago“I extend my heartfelt wishes to all Sri Lankans for a peaceful and joyous Sinhala and Tamil New Year!” – President
-
Business2 days agoHarnessing nature’s wisdom: Experts highlight “Resist–Align” path to resilience
-
Latest News7 days agoHeat Index at Caution level’ in the Northern, North-central, North-western, Western and Southern provinces and in Trincomalee district.
-
News2 days agoGratiaen Trust announces longlist for the 33rd Annual Gratiaen Prize
-
News2 days agoHeroin haul transported on 50-million-rupee contract
