Yemenis furious as riyal hits record low against the dollar 

Special Yemenis furious as riyal hits record low against the dollar 
The Yemeni riyal has fallen to a historic low of 2,000 against the US dollar in government-controlled areas. (Getty Images)
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Updated 24 October 2024
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Yemenis furious as riyal hits record low against the dollar 

Yemenis furious as riyal hits record low against the dollar 
  • Money traders and local media on Thursday said that the riyal was trading at 2,040 against the dollar in the port city of Aden
  • In an effort to limit the riyal’s depreciation, PLC chairman Rashad Al-Alimi has ordered the implementation of the government’s Economic Rescue Plan

AL-MUKALLA: The Yemeni riyal has fallen to a historic low of 2,000 against the US dollar in government-controlled areas, raising concerns that it will exacerbate the dire humanitarian situation and fuel further violence in the war-torn country. 

Money traders and local media on Thursday said that the riyal was trading at 2,040 against the dollar in the port city of Aden, Yemen’s interim capital, and other Yemeni cities controlled by the Yemeni government, a dramatic devaluation against the dollar.

A decade ago, when the Houthis seized power, 215 riyals were needed to buy a dollar.

The riyal fell to an all-time low of 1,700 against the dollar in June, after hovering at about 1,200 for months after the formation of the Presidential Leadership Council in early 2022.

In an effort to limit the riyal’s depreciation, PLC chairman Rashad Al-Alimi has ordered the implementation of the government’s Economic Rescue Plan, which focuses on combating corruption and all forms of smuggling, including the smuggling of hard currencies out of the country, containing the money supply in the market, optimizing import expenditures, reinforcing and supporting central bank measures, and boosting the agricultural sector.

Al-Alimi held talks with senior military and security officials and asked them to assist in implementing the central bank’s measures to limit the depreciation of the riyal.

During a meeting with the central bank leadership last week, Prime Minister Ahmed Awadh bin Mubarak said that the rapid devaluation of the riyal was unjustified and blamed it on “a deliberate plan” to undermine the economy of Yemen’s government-controlled areas. 

At the same time, the official news agency SABA reported that the governor of the central bank in Aden, Ahmed bin Ahmed Ghaleb, and the minister of finance, Salem bin Buraik, are now in the US where they lobby for international assistance to the Yemeni economy to shore up the riyal during their meetings with officials from the International Monetary Fund, the Arab Monetary Fund, and other international funds.

To boost the bank’s shrinking liquidity and keep the currency stable, the central bank announced in the past three days that it would sell $80 million from its foreign currency reserves in public auctions, as well as another auction for short-term and long-term government debt instruments, beginning with 15 billion riyals and offering expected returns of 18 percent to 20 percent. 

During previous rounds of riyal devaluation, the central bank in Aden closed exchange companies and shops suspected of engaging in currency speculation, canceled the informal transfer system between local exchange firms and replaced it with a new system under its control, and supplied the dollar to local fuel and goods importers.

Al-Alimi and his government officials have repeatedly blamed the country’s economic downturn on the Houthis’ economic measures against the government, such as prohibiting local traders from importing goods through government-controlled ports and the militia’s attacks on oil terminals in the southern provinces of Hadramout and Shabwa, which halted oil exports, the government’s primary source of revenue.

According to the monthly bulletin on food security in Yemen, released by the World Food Programme in late September, the Yemeni riyal has devalued by 24 percent year on year and lost 68 percent of its value in government-controlled areas over the past five years, attributing the decline to shrinking foreign reserves, suspended oil experts from government areas, and dwindling remittance inflows. The WFP predicted that the riyal would reach 2,100 against the dollar by January next year.

The devaluation of the riyal has pushed up prices of basic commodities, fuel and transport in recent months, sparking protests in some areas such as Taiz, as well as angry reactions from Yemenis in the streets and on social media. 

People say that the riyal’s rapid depreciation has made their lives difficult and pushed them into famine. Mohammed Al-Youbi, a father of seven from the small village of Al-Ma’afari in Merkhah Al-Ulya district in Shabwa province, told Arab News that most of his children are unable to attend school because he cannot afford to transport them and that his family “cannot afford to buy meat or chicken and other basic stuff.”

Al-Youbi added: “People are heading for the abyss; we complained and posted about it on social media, but no one cared. The government is riddled with corruption, and ministers don’t care because their salaries are in dollars.”


Egypt wants Palestinian Authority to ‘assume its duties’ in Gaza: FM

Egypt wants Palestinian Authority to ‘assume its duties’ in Gaza: FM
Updated 9 sec ago
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Egypt wants Palestinian Authority to ‘assume its duties’ in Gaza: FM

Egypt wants Palestinian Authority to ‘assume its duties’ in Gaza: FM

CAIRO: Egypt’s Foreign Minister Badr Abdelatty called on Wednesday for the Palestinian Authority to govern the Gaza Strip, hours after President Donald Trump announced a proposal for the United States to take over the territory.
In a meeting with Palestinian Prime Minister Mohammed Mustafa, Abdelatty said Egypt was eager for the Palestinian Authority to “assume its duties in the Gaza Strip as part of the occupied Palestinian territories,” according to a foreign ministry statement.


Hope turns to regret among Syrians returning home from Turkiye

Hope turns to regret among Syrians returning home from Turkiye
Updated 05 February 2025
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Hope turns to regret among Syrians returning home from Turkiye

Hope turns to regret among Syrians returning home from Turkiye
  • More than 80,000 have gone back to Syria since Assad’s fall
  • Those who returned in December lost right to re-enter Turkiye

ALEPPO: Ahmed Al-Sheikh’s excitement at returning to his homeland from neighboring Turkiye after the fall of Bashar Assad has turned to bitter disappointment at the grim living conditions in Syria after some 13 years of war.
Sheikh is one of 35,000 Syrians who left Turkiye for Syria full of hope in the first three weeks after Assad was toppled on Dec. 8, giving up the right to come back to Turkiye after signing a voluntary return document.
Turkiye’s refugee association says many, like him, are now disillusioned by the reality of life in a war-ravaged country.
“I was shocked by the catastrophic situation, which was beyond my expectations,” said Sheikh, 35, speaking in his home after returning to Aleppo, eight years after he fled to Turkiye. He said that water and electricity are frequently cut off and Internet communication is almost non-existent.
Migrant returns are a key element of burgeoning ties between Syria and NATO-member Turkiye, which is emerging as a power broker able to wield influence economically and diplomatically. Syria’s transitional President Ahmed Al-Sharaa visited Ankara on Tuesday, discussing an expected rapid expansion of economic ties.
The presence of nearly 3 million Syrians in Turkiye has become a sensitive political issue. Many have faced bouts of anti-migrant sentiment that made them feel like unwanted guests, and some rushed to the border after rebels forced Assad out.
“Most of the refugees were initially excited about returning after the fall of the Assad regime, but this excitement faded over time,” said Kadri Gungorur, social welfare director of the Refugees Association in Turkiye, citing complaints such as the lack of education and health services.
“Some families feel regret and want to return,” he said. “When they compare the living conditions in Turkiye with Syria, we can accept that Turkiye offers them more opportunities.”

BID TO SUPPORT VOLUNTARY RETURNS
Sheikh was among those enthused by the rebels’ victory, dreaming of rebuilding his bombed Aleppo home. He vowed to go back as soon as Assad fell, despite friends’ efforts to dissuade him. Now he is dismayed by the comparatively poor living conditions and scarcity of job and education opportunities.
“I started thinking about returning to Turkiye because my life was stable there, and my children were in school. My living conditions were stable,” he said. “But I can’t go back now because I signed a voluntary return document.”
Due to such negative experiences, Turkish Interior Minister Ali Yerlikaya announced at the end of 2024 a scheme designed to enable migrants to better plan their return home.
The scheme entitles the heads of Syrian migrant families to visit Syria three times between January and June this year, according to an Interior Ministry document.
Between Assad’s fall and late January, 81,576 Syrians had entered Syria, indicating a slight fall in the daily rate of returns from December to some 1,600 a day, Yerlikaya said. It was unclear how many of those returning in January had signed the voluntary return document.
During a visit to Turkiye last week, the UN High Commissioner for Refugees Filippo Grandi expressed support for Turkiye’s refugee response and voluntary returns.
He praised the policy of what he called “go-and-see visits,” saying they were “a best practice, as it allows refugees to assess conditions for themselves and can pave the way for sustainable returns to Syria.”
’PERHAPS IN THE FUTURE’
Some Syrians are more inclined to wait and see.
Syrian chemist Jafer, 27, came to Turkiye 12 years ago and will not consider returning with his wife and three children until conditions improve.
“My children are currently well-adjusted in Turkiye, which makes staying here more likely since they have adapted to life, language, and education in Turkiye,” he said.
“Some people will return, but the lack of basic necessities prevents them from doing so. They think about returning, but not now, perhaps in the future.”
It is an option no longer open to Sheikh.
He was forced out of Aleppo in late 2016 when Assad forces, with the support of Russian air strikes, seized control of the eastern part of the city from rebels. He went on to build a stable life for his wife and four children in Turkiye.
He has opened a mobile phone repair shop in Aleppo, but his plan to fix his house there is on hold.
“I don’t know if the project will succeed here in the country or if it will fail. If it fails, I will have lost everything I earned during my time in Turkiye.”


Saudi Arabia says no to displacement of Gazans, rejects relations with Israel without Palestinian state

Saudi Arabia says no to displacement of Gazans, rejects relations with Israel without Palestinian state
Updated 05 February 2025
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Saudi Arabia says no to displacement of Gazans, rejects relations with Israel without Palestinian state

Saudi Arabia says no to displacement of Gazans, rejects relations with Israel without Palestinian state
  • Statement comes after President Trump hinted at US ownership of Gaza after Palestinian displacement
  • Trump insists Egypt and Jordan will have to take the displaced Gazans, with both states rejecting the idea

RIYADH: Saudi Arabia on Wednesday said its long-held position that Palestinians must have their own independent state was firm and not open to negotiation, a stance Crown Prince Mohammed bin Salman has reiterated many times before.

The Saudi Foreign Ministry statement came shortly after President Donald Trump said he wants the US to own the Gaza Strip after all Palestinians are displaced from there and sent to other countries, where settlements will be constructed for them.

The Kingdom’s position has been a longstanding one with its leaders repeatedly calling for justice for Palestinians, who they say deserve a state of their own alongside Israel as a way to find a lasting solution to the decades long conflict.

Saudi leaders have repeatedly said any formal relations between the Kingdom and Israel hinge on the creation of a viable Palestinian state on the 1967 borders.

The ministry statement highlighted a speech by the crown prince at the Shoura Council on September 18, 2024, where he stressed that Saudi Arabia will continue its tireless work toward the establishment of an independent Palestinian state with East Jerusalem as its capital, adding the Kingdom will not normalize ties with Israel without it.

The crown prince expressed a similar sentiment during the extraordinary Arab-Islamic summit in Riyadh on Nov. 11, 2024, where he stressed the continuation of efforts to establish a Palestinian state and demanded an end to Israeli occupation of the Palestinian territories.

He also urged more countries to recognize the State of Palestine, stressing the importance of mobilizing the international community to support the rights of Palestinians, which were expressed in the resolutions of the UN General Assembly by considering Palestine eligible for full membership of the world body.

“The Kingdom of Saudi Arabia also stresses its previously announced categorical rejection of any violation of the legitimate rights of the Palestinian people, whether through Israeli settlement policies, annexation of Palestinian territories, or attempts to displace the Palestinian people from their land,” the statement added.

Trump, standing next to Prime Minister Benjamin Netanyahu at the White House on Tuesday, said the Palestinians would be better off living outside of Gaza which has been bombed to rubble during Israel’s brutal 15-month attack.

“I don’t think people should be going back,” Trump said. “You can’t live in Gaza right now. I think we need another location. I think it should be a location that’s going to make people happy.”

The president insists Egypt and Jordan would have to take the Gazans he plans to displace. Both countries have rejected the idea outright.

Trump also did not rule out the use of American troops to help reconstruct the enclave and ensure the ownership of the territory, which he said could become the “Riviera of the Middle East,” given its temperate climate and prime location on the Mediterranean coast.

The Kingdom said that it’s the international community’s duty to work to alleviate the severe human suffering of the Palestinian people, who will remain in their land.

“Lasting and just peace cannot be achieved without the Palestinian people obtaining their legitimate rights in accordance with international legitimacy resolutions, and this is what was previously explained to the previous and current American administrations,” the ministry statement said.


Hamas ready for talks with Trump administration, Hamas official tells RIA

Mousa Abu Marzouk, senior Hamas Politburo member. (Wikipedia)
Mousa Abu Marzouk, senior Hamas Politburo member. (Wikipedia)
Updated 05 February 2025
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Hamas ready for talks with Trump administration, Hamas official tells RIA

Mousa Abu Marzouk, senior Hamas Politburo member. (Wikipedia)
  • Trump vowed on Tuesday that the US would take over the war-shattered Gaza Strip after Palestinians are resettled elsewhere and develop it economically, a move that would shatter decades of US policy toward the Israeli-Palestinian conflict

GAZA CITY: The Palestinian Hamas movement is ready to establish contact and hold talks with the administration of US President Donald Trump, Russia’s RIA state news agency cited a senior Hamas official as saying in remarks published early on Wednesday.
“We are ready for contact and talks with the Trump administration,” RIA cited senior Hamas Politburo member Mousa Abu Marzouk as saying.
“In the past, we did not object to contacts with the administration of (former US President Joe) Biden, Trump or any other US administration, and we are open to talks with all international parties.”
It was not clear when RIA interviewed Marzouk, who was visiting Moscow on Monday for talks with the Russian foreign ministry.
Trump vowed on Tuesday that the US would take over the war-shattered Gaza Strip after Palestinians are resettled elsewhere and develop it economically, a move that would shatter decades of US policy toward the Israeli-Palestinian conflict.
Marzouk told RIA that talks with the US have become a kind of necessity for Hamas, considering that Washington is a key player in the Middle East.
“That is why we welcomed the talks with the Americans and have no objection to this issue,” he added.

 


Iraq’s top court suspends new legislation that activists say undermines women’s rights

Iraq’s top court suspends new legislation that activists say undermines women’s rights
Updated 05 February 2025
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Iraq’s top court suspends new legislation that activists say undermines women’s rights

Iraq’s top court suspends new legislation that activists say undermines women’s rights
  • Women’s rights advocates argue that the changes undermine previous reforms that created a unified family law and established safeguards for women
  • Proponents of the amendments, which were advocated by primarily conservative Shiite lawmakers, defend them as a means to align the law with Islamic principles and reduce Western influence on Iraqi culture

BAGHDAD: Iraq’s top court suspended implementation Tuesday of three controversial bills passed last month by the country’s parliament, including a measure that activists said undermines women’s rights.
A number of members of parliament filed a complaint alleging that the voting process was illegal because all three bills — each supported by different blocs — were voted on last month together rather than each one being voted on separately. The Federal Supreme Court issued an order, a copy of which was obtained by The Associated Press, to suspend their implementation until the case is adjudicated.
The measures include an amendment to the country’s personal status law to give Islamic courts increased authority over family matters, including marriage, divorce and inheritance.
Women’s rights advocates argue that the changes undermine previous reforms that created a unified family law and established safeguards for women. Proponents of the amendments, which were advocated by primarily conservative Shiite lawmakers, defend them as a means to align the law with Islamic principles and reduce Western influence on Iraqi culture.
Earlier versions of the measure were seen as potentially opening the door to child marriage since some interpretations of Islamic law allow the marriage of girls in their early teens — or as young as 9. The final version passed by the parliament states that both parties must be “adults,” without specifying the age of adulthood.
The second bill was for a general amnesty law seen as benefiting Sunni detainees. Some fear it could allow the release of people involved in public corruption and embezzlement as well as militants who committed war crimes.
The third bill aimed to return lands confiscated from the Kurds under the rule of Saddam Hussein. It is opposed by some Arab groups, saying it could lead to the displacement of Arab residents.