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Seventeen-year-old Samir Saado was finishing his cleaning shift at the village medical centre when an airstrike hit the building. Four members of the PKK-allied Sinjar Resistance Units (YBS), who were guards at the clinic, were killed, local officials said. All five said the medical centre was hit by at least three strikes about three minutes apart. Reuters showed Zwijnenburg the footage of the red crescent symbol on the wall of the medical centre. Across northern Iraq, local people say they are powerless to prevent armed groups setting up in their villages and districts.
Persons: Samir Saado, ” “, , ACLED, Tayyip Erdogan, Iraq’s, Mustafa al, , Tatyana Eatwell, Jonathan Lord, ” Lord, Saeed Hasan, Isa Khoudeda, Turkey’s, wailed, Wim Zwijnenburg, Zwijnenburg, Saado, Yazidis, Saado’s, ” Saado, Schlier Namiq, Tuta Qal, Aram Kakakhan, Kakakhan, Ismail Ibrahim, Namiq, Saddam Hussein, Namiq’s, Ryam Ziad, Ziad Khedr, Hassan Kashmoula, Ryam, Mustafa Anwar, Khedr’s, ‘ neutralised, Nidal Mahmoud, Khedr's, ” Mahmoud Organizations: Turkish, Turkish Defence Ministry, Kurdistan Workers ' Party, European Union, Syrian Democratic Forces, Islamic, Turkey’s Defence Ministry, Reuters, Anadolu, Human Rights, Defence Ministry, Unit, Justice, United Nations Human, NATO, Pentagon, ISIS, ., Coalition, United Nations, Mission, Middle East Security, Center, New, New American Security, Military, Islamic State, Tuta, Iraq’s Kurdistan Regional Government, SDF, ” Reuters, International Crisis Group, Crisis, Locations: Iraq’s, Sinjar, Turkish, Saado, Iraq, Syria, Turkey, Kurdistan, Ankara, Northern Iraq, United States, PKK, U.S, Islamic State, Skeiniya, Germany, Turkish Government, Washington, New American, , Iran, Istanbul, Gaziantep province, Sabah, Europe, Greece, Iraq’s Sulaimaniya, Kurdish, Tuta, Ibrahim, Chamchamal, Chicago, Mosul, Iranian, Khedr
Citigroup also convened a meeting of its managing directors on Wednesday, according to two sources familiar with the matter. Citigroup declined to comment on the memo, town hall and meeting with managing directors. Citi had 240,000 employees at the end of the second quarter. CONSULTATIONS IN THE UKThe bank is also beginning the consultations required in the UK after earlier warning employees about possible redundancies. In the second quarter, net income tumbled 36% to $2.92 billion, beating analyst expectations.
Persons: Sara Wechter, Jane Fraser, Fraser, Lananh Nguyen, Tatiana Bautzer, Saeed Azhar, Megan Davies, David Gregorio, Kirsten Donovan, Sonali Paul Organizations: Citigroup, Reuters, Bankers, Citi, Bank of America, Milana, Svea Herbst, Thomson Locations: Wells Fargo, London, New York, Svea
"Some roles will change, new roles may be created, and new roles that do not fit our new structure will be eliminated," Sara Wechter, the bank's chief human resources officer, wrote in the memo. Fraser's memo to staff did not announce an expected number of job cuts but said the departures would enable staff who generate revenue and dealmakers to focus their time on clients. "We'll be saying goodbye to some very talented and hard-working colleagues," Fraser wrote at the time. CONSULTATIONS IN THE UKThe bank said in a separate memo it is also beginning the specific consultation required in the UK. Some of these roles may change, while others will remain largely the same."
Persons: Sara Wechter, Jane Fraser, Fraser, Jane, Lananh Nguyen, Tatiana Bautzer, Saeed Azhar, Megan Davies, David Gregorio Our Organizations: Citigroup, Reuters, Citi, Bank of America, Thomson Locations: Wells Fargo, London, New York
Goldman Sachs executive Chris Kojima to leave, memo says
  + stars: | 2023-10-03 | by ( Saeed Azhar | ) www.reuters.com   time to read: +2 min
People walk in the Goldman Sachs global headquarters in Manhattan, New York, U.S., November 15, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsNEW YORK, Oct 3 (Reuters) - Chris Kojima, an executive in Goldman Sachs <GS.N> asset and wealth management unit, will leave the investment bank after almost 28 years, according to an internal memo seen by Reuters on Tuesday. His move is the latest in a series of high-profile departures from Goldman's asset and wealth management division, which manages $2.7 trillion in assets. "Chris founded and led businesses that are incredibly important to Goldman Sachs, and our business today is stronger because of his leadership," Nachmann said in a statement. He first joined Goldman Sachs as an investment banking associate in 1995, and was named managing director in 2002 and a partner in 2008.
Persons: Goldman Sachs, Andrew Kelly, Chris Kojima, Kojima, Julian Salisbury, Mike Koester, Jo Natauri, Matt Gibson, Marc Nachmann, Chris, Nachmann, Goldman, Saeed Azhar, Louise Heavens, Lananh Nguyen, Paul Simao Organizations: REUTERS, Reuters, Sixth, Thomson Locations: Manhattan , New York, U.S
Goldman Sachs exec Chris Kojima to leave
  + stars: | 2023-10-03 | by ( Saeed Azhar | ) www.reuters.com   time to read: +2 min
People walk in the Goldman Sachs global headquarters in Manhattan, New York, U.S., November 15, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsNEW YORK, Oct 3 (Reuters) - Chris Kojima, a Goldman Sachs (GS.N) executive in the asset and wealth management unit, will leave the investment bank at year-end after almost 28 years, an internal memo seen by Reuters on Tuesday showed. Kojima is among the latest high-profile executives to leave Goldman's asset and wealth management division, which manages $2.7 trillion in assets. "Chris founded and led businesses that are incredibly important to Goldman Sachs, and our business today is stronger because of his leadership," Nachmann said in a statement. He first joined Goldman Sachs as an investment banking associate in 1995, and was named managing director in 2002 and a partner in 2008.
Persons: Goldman Sachs, Andrew Kelly, Chris Kojima, Kojima, Julian Salisbury, Mike Koester, Jo Natauri, Matt Gibson, Marc Nachmann, Chris, Nachmann, Kojima's, Saeed Azhar, Louise Heavens, Lananh Nguyen, Paul Simao, Richard Chang Organizations: REUTERS, Reuters, Atlantic, Sixth, Thomson Locations: Manhattan , New York, U.S
Ally Financial to lay off nearly 5% of staff
  + stars: | 2023-10-02 | by ( ) www.reuters.com   time to read: +1 min
The logo and trading information for Ally Financial Inc appear on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 24, 2019. REUTERS/Brendan McDermid Acquire Licensing RightsOct 2 (Reuters) - Ally Financial (ALLY.N) said on Monday job cuts in various divisions of the digital banking firm will affect nearly 5% of its workforce. "After taking steps over the past year to pause hiring and manage staffing expenses through natural attrition, we have made the difficult choice to selectively reduce our workforce," Ally spokesperson Peter Gilchrist said in an emailed statement. The Detroit-based company offers various financial products and is best known for its auto-loan business. Reporting by Jaiveer Singh Shekhawat in Bengaluru and Saeed Azhar in New York; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.
Persons: Brendan McDermid, Ally, Peter Gilchrist, Jaiveer Singh, Saeed Azhar, Shinjini Organizations: Ally Financial, New York Stock Exchange, REUTERS, Ally, Thomson Locations: New York, U.S, Detroit, Bengaluru
Childhood friends Paul Anton and Lyth Saeed continued to play basketball together while going to college in different states by using Snapchat. It looks like a TV screen behind the hoop and lets players remotely form teams and compete in challenges. "It's more than just the basketball hoop," Saeed, who serves as the company's COO, told Insider. Anton said Atar supported the technology right away and gave Huupe its first $1 million check. Check out 5 key slides from Huupe's most recent pitch deck, which has been updated since their $8 million seed round:
Persons: Paul Anton, Lyth Saeed, Anton, Saeed, Shaquille O'Neal, Dyson Daniels, Thaddeus Young, Huupe, Jake Paul's, Audie Atar, Conor McGregor, Jozy Altidore, Atar, Young, That's Organizations: Huupe, Marvan Ventures, TRI Investments, Studios, Paradigm Sports Management, US Men's National, Ventures Locations: Miami
Bombing Outside Mosque in Pakistan Kills at Least 25
  + stars: | 2023-09-29 | by ( Saeed Shah | Waqar Gilani | ) www.wsj.com   time to read: 1 min
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Persons: Dow Jones Locations: asia, pakistan
Bank of America Chairman and CEO Brian Moynihan testifies before a Senate Banking, Housing, and Urban Affairs hearing on "Annual Oversight of the Nation's Largest Banks", on Capitol Hill in Washington, U.S., September 22, 2022. REUTERS/Evelyn Hockstein/File Photo Acquire Licensing RightsNEW YORK, Sept 27 (Reuters) - The Federal Reserve has won the near-term battle against inflation, but interest rates are likely to stay higher for longer, Bank of America's (BAC.N) CEO Brian Moynihan said on Wednesday. "They're winning the fight right now" against inflation, Moynihan said. "The controversy is like I've never seen," said Moynihan, who was headed to Washington after giving his remarks in New York. Reporting by Lananh Nguyen and Saeed Azhar, Editing by Franklin Paul and Andrea RicciOur Standards: The Thomson Reuters Trust Principles.
Persons: Brian Moynihan, Evelyn Hockstein, Moynihan, They're, they've, I've, ", Lananh Nguyen, Saeed Azhar, Franklin Paul, Andrea Ricci Organizations: of America, Banking, Housing, Urban Affairs, Capitol, REUTERS, Federal Reserve, Bank of America's, Economic, of New, Industry, Arm Holdings, Thomson Locations: Washington , U.S, of New York, Washington, New York
The so-called “hijab bill” will be enacted for a three-year trial period. On Thursday, the Iranian parliament passed a controversial bill ramping up penalties against women who do not wear the hijab properly. Those who collude with foreign media and governments to promote nudity, improper hijab, or improper dress, face up to 10 years in prison, the new bill adds. Those who are found guilty of ridiculing or insulting the hijab face a fine, in addition to a possible travel ban up to two years, the bill says. The draft law would also mandate broader gender segregation in universities – common hotbeds of civilian protests – and other public spaces.
Persons: CNN —, Mahsa, , Majid Asgaripour, Amini’s, ” Sanam Vakil, Hossein Raeesi, Raeesi, General Saeed Montazerolmahdi Organizations: CNN, Guardian Council, Reuters, UN, Authorities, Chatham, Carleton University Locations: Islamic Republic, Tehran, East, North Africa, London, Iranian, Ottawa, Canada, Iran
Demonstrators at a Freedom Rally for Iran, protesting in support of Iranian women and against the death of Mahsa (Zhina) Amini, outside City Hall in Los Angeles, California, U.S., October 1, 2022. Amini, 22, died on Sept. 16 last year after being arrested for allegedly flouting the Islamic Republic's mandatory dress code. Her death sparked months of anti-government protests that marked the biggest show of opposition to Iranian authorities in years. The U.S. States and Britain, along with the European Union, have announced multiple rounds of sanctions against Iran, citing the widespread and often violent crackdown on protests after the death of Amini. The sanctions target LEF spokesperson Saeed Montazerolmehdi, multiple LEF and IRGC commanders, and Iran’s Prisons Organization chief Gholamali Mohammadi.
Persons: Bing Guan, Mahsa Amini, Antony Blinken, Saeed Montazerolmehdi, Gholamali Mohammadi, Alireza Abedinejad, Brian Nelson, Rami Ayyub, Susan Heavey, Daphne Psaledakis, Chizu Nomiyama, Marguerita Choy Organizations: Hall, REUTERS, Rights, European Union, Iran, Police, U.S . Treasury Department, Islamic Revolutionary Guard Corps, Enforcement Forces, Iran's Prisons, Iran’s Prisons Organization, Douran Software, Press, Tasnim News Agency, Terrorism, Financial Intelligence, Thomson Locations: Iran, Los Angeles , California, U.S, Britain, States, Iran’s, Canada, Australia, Fars, United States, Tehran
The Goldman Sachs company logo is on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 13, 2021. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsCompanies Goldman Sachs Group Inc FollowSept 15 (Reuters) - Wall Street giant Goldman Sachs (GS.N) has named Monali Vora as its head of wealth investment solutions for asset management, according to an internal memo seen by Reuters on Friday. Vora is a 23-year Goldman veteran who joined as an analyst within the quantitative investment team. The unit Vora will head caters to affluent clients who fall under the ultra-high net worth and high-net worth categories, with personalized investment portfolios across both stocks and bonds. "(She) has spent her entire career at the firm as a quantitative investor, ultimately building the Quantitative Equity Solutions business which she leads today," the memo said.
Persons: Goldman Sachs, Brendan McDermid, Vora, Goldman, Manya Saini, Saeed Azhar Organizations: New York Stock Exchange, REUTERS, Goldman Sachs, Reuters, Equity Solutions, Thomson Locations: New York City, U.S, Bengaluru, New York
A view of the exterior of the Citibank corporate headquarters in New York, New York, U.S. May 20, 2015. Technology staff working on overlapping functions are also at risk of being laid off, one of the people said. "Simplifying the organization will also advance the execution of Citi's transformation, the firm's top priority," the company said in a statement on Wednesday. Citigroup has invested heavily in recent years in technology systems to increase risk controls and compliance to address the consent order, one of the sources said. But the company still employs many people with overlapping functions and redundant technology systems, one of the sources said.
Persons: Mike Segar, Jane Fraser, Moody's, Peter Nerby, Fraser, Tatiana Bautzer, Saeed Azhar, Lananh Nguyen, Leslie Adler Organizations: Citibank, REUTERS, Citigroup, Technology, Citi, Bank of America, Wells, Thomson Locations: New York , New York, U.S, North America
REUTERS/Andrew Kelly Acquire Licensing RightsNEW YORK, Sept 13 (Reuters) - Goldman Sachs (GS.N) fired several executives in its transaction banking unit after they violated the firm's communications policy, according to a memo seen by Reuters on Wednesday. Philip Berlinski, the bank's treasurer, will take over day-to-day management of transaction banking alongside Akila Raman and Luc Teboul. The fired executives also failed to cooperate with Goldman Sachs' compliance department. The bank remains strongly committed to the transaction banking business, it said. Goldman Sachs was among the first wave of big banks regulators hit with stiff penalties for such recordkeeping failures.
Persons: Goldman Sachs, Andrew Kelly, Philip Berlinski, Akila Raman, Luc Teboul, Berlinski, Hari Moorthy, Moorthy, Saeed Azhar, Chris Prentice, Leslie Adler, Lananh Nguyen, Josie Kao Organizations: REUTERS, Reuters, FINRA's, Wall Street, Thomson Locations: Manhattan , New York, U.S
"We are making bold decisions to meet our commitments to our shareholders," Fraser, 56, said in a statement. The latest changes have already eliminated 35 committees, Fraser said, citing an example of efforts to reduce bureaucracy. Job cuts are expected, but the bank did not estimate the number of positions being eliminated or the financial impact, sources familiar with the matter said. "Investors are only going to give Citigroup credit for hard numbers meeting their goals," said Eric Compton, banking analyst at Morningstar. Citi is eliminating layers in former divisions Institutional Clients Group and Personal Banking and Wealth Management.
Persons: Jane Fraser, Fraser, Shahmir Khaliq, Andrew Morton, Peter Babej, Gonzalo Luchetti, Andy Sieg, Wells, JPMorgan Chase, Brian Mulberry, Eric Compton, Ernesto Cantu, Mark Mason, Tatiana Bautzer, Saeed Azhar, Medha Singh, Lananh Nguyen, Nick Zieminski, Jonathan Oatis Organizations: Citigroup, Citi, Bank of America, JPMorgan, Zacks Investment Management, Morningstar, Wealth Management, International, Thomson Locations: North America, New York
The Federal Reserve has tamed inflation via interest rate increases, but it may need to take further action, he said. Still, optimism that the U.S. economy will avoid a recession is leading to a reopening of capital markets, Solomon said. "They're meaningful, they're going well," he said. "I do think these capital rules will have an impact on economic growth and that will affect large businesses and small businesses and their access to capital," Solomon said. JPMorgan Chase (JPM.N) CEO Jamie Dimon blasted the proposed rules, telling investors on Monday that they could prompt lenders to pull back and stymie economic growth.
Persons: Mohamed Azakir, Goldman Sachs, David Solomon, Solomon, Treasuries, it's, Goldman, JPMorgan Chase, Jamie Dimon, Saeed Azhar, Lananh Nguyen, Davide Barbuscia, Sharon Singleton, Leslie Adler Organizations: REUTERS, Reuters, Federal Reserve, SoftBank Group Corp, JPMorgan, Thomson Locations: Beirut, Lebanon, U.S, New York
The groups argued that banks cannot properly respond to the proposal, which would require lenders to hold more cash to absorb losses, without that analysis. The Fed drafted the rules with the Federal Deposit Insurance Corp (FDIC) and Office of the Comptroller of the Currency (OCC). The "Basel Endgame" proposal implements international capital standards agreed by the Basel Committee on Banking Supervision in the aftermath of the 2007-2009 financial crisis. The U.S. central bank has estimated it will increase industry capital requirements by $170 billion. "These capital rules will have an impact on economic growth and that will affect large businesses and small businesses and their access to capital."
Persons: Rick Wilking, Goldman Sachs, Morgan Stanley, Banks, David Solomon, Jamie Dimon, Morgan Stanley's, Dan Simkowitz, Pete Schroeder, Saeed Azhar, Lananh Nguyen, Tatiana Bautzer, Michelle Price, Paul Simao, Deepa Babington Organizations: Deposit Insurance Corporation, REUTERS, Rights, Federal Reserve, JPMorgan Chase, Citigroup, APA, Fed, Federal Deposit Insurance Corp, Currency, OCC, Banking, Reuters, JPMorgan, FDIC, Republican, Financial, Bank Policy Institute, American Bankers Association, Financial Services, Institute of International Bankers, Securities Industry, Financial Markets Association, Chamber of Commerce, Thomson Locations: Westminster , Colorado, U.S, Washington
A person walks past a Bank of America sign in the Manhattan borough of New York City, New York, U.S., January 19, 2022. REUTERS/Carlo Allegri/File Photo Acquire Licensing RightsNEW YORK, Sept 11 (Reuters) - Investment banking fees are down 30% to 35% in the third quarter from a year earlier for the sector, but Bank of America (BAC.N) will fare better than that average, its chief financial officer said on Monday. "We'll do slightly better than that," Alastair Borthwick told the Barclays Financial Services Conference, referring to investment banking fees for the industry. BofA in July posted strong gains for investment banking in the second quarter with net income surging 76% to $2.7 billion. Reporting by Saeed Azhar and Pritam Biswas; editing by Jonathan Oatis and Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.
Persons: Carlo Allegri, Alastair Borthwick, BofA, Saeed Azhar, Pritam Biswas, Jonathan Oatis, Deepa Babington Organizations: Bank of America, REUTERS, Investment, Barclays Financial Services, Thomson Locations: Manhattan, New York City , New York, U.S
The logo for Goldman Sachs is seen on the trading floor at the New York Stock Exchange (NYSE) in New York City, New York, U.S., November 17, 2021. REUTERS/Andrew Kelly Acquire Licensing RightsNEW YORK, Sept 11 (Reuters) - Goldman Sachs has named Chief Administrative Officer Ericka Leslie to head operations for global banking and markets, its largest division, according to a memo seen by Reuters. The move reduces the bank's number of executive officers to eight, for now, and leaves just two women in the group. The two women still in the executive officer group are Sheara Fredman, who is chief accounting officer and Chief Legal Officer and General Counsel Kathryn Ruemmler. The group is led by CEO David Solomon and includes John Waldron, president and chief operating officer, and Denis Coleman, chief financial officer.
Persons: Goldman Sachs, Andrew Kelly, Ericka Leslie, Fredman, Kathryn Ruemmler, David Solomon, John Waldron, Denis Coleman, Leslie, Goldman, Will Bousquette, Marc Nachmann, Nachmann, Laurence Stein, Julian Salisbury, Solomon, Saeed Azhar, Lananh Nguyen, Megan Davies, Jason Neely Organizations: New York Stock Exchange, REUTERS, Reuters, Sixth, CNBC, Financial Times, Thomson Locations: New York City , New York, U.S
The logo for Goldman Sachs is seen on the trading floor at the New York Stock Exchange (NYSE) in New York City, New York, U.S., November 17, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsSept 7 (Reuters) - Goldman Sachs (GS.N) is planning for another round of job cuts for employees who are deemed underperformers, which could come as soon as late October, the Finanical Times reported on Thursday, citing people familiar with the matter. The bank cut 500 employees in September 2022, Reuters had reported earlier, citing sources. Goldman Sachs did not immediately respond to a Reuters request for comment on the report. Reporting by Juby Babu in Bengaluru and Saeed Azhar in New York; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.
Persons: Goldman Sachs, Andrew Kelly, Goldman, Juby Babu, Saeed Azhar, Rashmi Organizations: New York Stock Exchange, REUTERS, Finanical Times, Reuters, Thomson Locations: New York City , New York, U.S, Bengaluru, New York
CEO of Goldman Sachs David Solomon participates in a panel titled "Empowering Women as Entrepreneurs and Leaders" at the 2023 Spring Meetings of the World Bank Group and the International Monetary Fund in Washington, U.S., April 13, 2023. Goldman Sachs is shedding its consumer businesses after its foray into retail banking flopped. "I definitely do feel better about the capital markets," Solomon said in the wide-ranging interview. Solomon also said U.S. regulatory proposals for stricter bank capital rules have "gone too far." "I am focused on Goldman Sachs," he said.
Persons: Goldman Sachs David Solomon, Elizabeth Frantz, Goldman Sachs, David Solomon, that's, Solomon's, Solomon, SoftBank, Banks, Saeed Azhar, Lananh Nguyen, Jonathan Oatis, Jamie Freed, Deepa Babington Organizations: World Bank Group, International Monetary Fund, REUTERS, CNBC, T Arm Holdings, Federal Reserve, Thomson Locations: Washington , U.S, U.S
Rare street protests have broken out in Bahrain as a mass hunger strike enters its fifth week, activists say, in a faint echo of the uprising that swept the Gulf kingdom starting in 2011, during the Arab Spring. Inmates inside the country’s largest prison have been refusing meals since Aug. 7, protesting against what they and their relatives say are poor conditions, including systematic mistreatment, medical neglect and limited visitation rights. The government has denied those allegations, arguing that conditions are in line with international standards. Officials have announced some concessions, including an increase in the time that prisoners can spend outside, yet the strike has lasted for nearly a month. While the government says that only 116 prisoners are involved, activists say that they have documented more than 800 participants — a significant portion of the prison population in a small island state of 1.6 million people.
Locations: Bahrain
Overall U.S. banks' cash assets were $3.26 trillion as of Aug. 23, up 5.4% from the end of 2022. The SVB failure triggered a sudden dash for cash at banks, which within two weeks had bulked up cash assets to $3.49 trillion, the highest level since April 2022. It has $420 billion in cash and $990 billionof what it calls high quality liquidity assets and other unencumbered securities, it said. "The good news is for some of these banks re-investing cash is that we have pretty high short-term rates," said Mac Sykes, portfolio manager at Gabelli Funds. "It's definitely opportunistic and advantageous to be investing short-term securities."
Persons: Carlo Allegri, David Fanger, Moody's, Brendan Browne, Manan Gosalia, Morgan Stanley, Peter Marshall, Mac Sykes, Saeed Azhar, Ann Saphir, Niket, Megan Davies, Nick Zieminski, Richard Chang Organizations: Bank of America, REUTERS, FRANCISCO, Silicon Valley Bank, Signature Bank, Federal, Graphics, Reuters, JPMorgan, Federal Reserve, Regulators, FDIC, Gabelli, Thomson Locations: Manhattan, New York City , New York, U.S, Silicon
The sale will reduce Chemical Industries' stake to 20.95%, giving impetus to Egypt's floundering privatisation programme. Global Investment will provide $150 million to buy the tobacco necessary for production as part of the agreement. The deal "is an affirmation of the government's determination to ... encourage direct private investment in various sectors," the cabinet statement said. Egypt's government sold 4.5% of Eastern Co. on the stock exchange in 2019, leaving the holding company with a majority stake. Egypt desperately needs foreign currency after the COVID pandemic and Ukraine crisis exposed vulnerabilities in its economy.
Persons: Mostafa Madbouly, Momen Saeed Atallah, Adam Makary, Hatem Maher, Patrick Werr, Ros Russell Organizations: Global Investment Holding, Eastern Co, Holding Company, Chemical Industries, Global Investment, International Monetary, Thomson Locations: CAIRO, Eastern, Egypt, Ukraine
CNN —A Saudi court has sentenced a retired teacher to death over his comments online, say his brother and advocacy group Human Rights Watch. Muhammad al-Ghamdi, a 54-year-old retired Saudi teacher, was sentenced “following 5 tweets criticizing corruption and human rights violations,” his brother Saeed bin Nasser al-Ghamdi tweeted last week. According to the European Saudi Organization for Human Rights, Saudi Arabia has executed at least 92 people this year so far. In 2022, UK-based human rights organization ALQST cataloged 148 executions in Saudi Arabia – more than twice the number of executions it recorded in 2021. “The Saudi authorities asked me several times to return to Saudi Arabia, but I refused to do so.
Persons: Muhammad al, , Saeed bin Nasser, Ghamdi, ” Joey Shea, Lina Alhathloul, Loujain, , Saeed Organizations: CNN, Saudi, Human Rights Watch, , Human Rights, European Saudi Organization for Human Rights, Saudi Arabia’s Ministry of Justice, Ministry of Interior Locations: Saudi, Saudi Arabia, United Kingdom
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