Ittihad announces Full Year 2023 Financial Results

Transformational year – well positioned for future growth

ABU DHABI, United Arab Emirates, May 17, 2024 (GLOBE NEWSWIRE) — Ittihad International Investment LLC (Ittihad), the leading industrial conglomerate in the UAE, today announces its Full Year 2023 Financial Results.

Financial Highlights

  • Group Revenue of $2.8 billion (AED10.4 billion)
  • Group Adjusted EBITDA* of $138.7 million (AED509.6 million)
  • Successfully launched a 5NC2 debut Sukuk, raising $350 million
  • Continued focus on deleveraging the business, with gross debt leverage of 5.3x at year end (down from 6.0x as of December 31, 2022), and adjusted net leverage* stood at 3.4x in 2023, down from 3.5x in 2022
    • Debt repayments for the year amounted to $119 million (AED436.6 million)
  • Strong balance sheet continues to provide capital allocation optionality
    • Net cash and cash equivalents of $153 million, with readily marketable inventories (RMI) of $107 million as at year end
    • $50 million of restricted cash was released in December 2023, with proceeds used to pay down working capital facilities
    • Ittihad is well-placed to continue to capitalise on a pipeline of strategic M&A opportunities to compound growth
  • Arranged $88 million of term loan and Export Credit Agency (ECA ) backed term financing for the tissue mill expansion project in Saudi Arabia. The facility is unsecured with a maturity of 12 years door-to-door

Operational Highlights

  • Infrastructure and Building Materials Manufacturing (IBMM): strong margin growth as a result of positive pricing performance and a significant shift in demand driven by the energy transition and long-term investments in infrastructure and real estate development across the region.
  • Consumer Goods Manufacturing (CGM): margin compression in the segment in the second and third quarter of the year due to destocking and a rapid correction in both raw material and finished goods prices.
  • Construction commenced on the new tissue mill in Saudi Arabia, a project that will ensure a more competitive logistics costs and improved price margins in the country.
  • Metropolic Paper Industries (MPI) became the main tissue supplier for Carrefour, a leading retail brand in the UAE.
  • Business Services: Double digit growth in EBITDA achieved across the waste collection, city cleaning, and sewage network services. Ittihad successfully penetrated a niche market in this segment by introducing robotic camera technology solution for sewage network inspection and repair, seeing strong levels of demand in the local market. Ittihad is well-placed to take advantage of potential opportunities for regional expansion with this technology.
  • The acquisition and expansion of a waste collection and city cleaning company in Saudi Arabia, effectively scaling up operations with new long-term projects valued at $40 million.

Outlook

  • Organic growth and sustainability will remain the primary focus over the next five years.
  • Plans to further expand into Saudi Arabia in consumer goods and business services segments.
  • The Company has a medium-term leverage target of 2.5x – 3.0x (net of bank balances and cash and RMI) and is focused on meeting this leverage target in the short to medium term.
  • Ittihad is well-placed to capitalise on strategic M&A opportunities and is strategically positioned to expedite its investment plans while exploring additional avenues for capital raise.

* Note on adjustments:

“Adjusted EBITDA” is defined as net profit (loss) for the year / period from continuing operations plus finance costs, tax, depreciation, amortisation, impairment of goodwill, and changes in the fair value of derivative financial instruments

Adjusted net leverage is defined as gross debt minus cash balances and readily marketable inventories (RMI) to adjusted EBITDA

Amer Kakish, Chief Executive Officer of Ittihad, said:

“The sustained and resilient EBITDA performance witnessed in 2023 highlights Ittihad’s ability to maintain the strong earnings achieved in the record-breaking year of 2022. This consistent long-term growth demonstrates a significant milestone in our expansion journey, emphasizing the resilience of our diversified portfolio amidst challenging economic and geopolitical conditions, both regionally and globally.”

“We take pride in Ittihad’s current contribution, accounting for over 4% of the UAE’s non-oil manufacturing sector exports, and our rapid progress aligns with the UAE’s ‘Operation 300bn’ strategy. Looking ahead, our focus remains on driving organic growth throughout our portfolio while maintaining our commitment to ongoing investment plans.”

For further information please contact:

Ittihad International Investment
Zahi Abu Hamze
Chief Financial Officer
+971 506128603

Wasfi Al Tayara
Corporate Finance and Investor Relations Manager
+971 501307449
investor.relations@ittihadinvestment.ae

MHP Group
James McFarlane / Charlie Barker / Veronica Farah
+44 7584 152665 / +44 7834 623818 / +44 7710 117517
Ittihad@mhpgroup.com

Overview

The headline figures of AED 10.4 billion in revenues and AED 509.6 million adjusted EBITDA for the 12-month period remained relatively consistent with the prior year. However, it’s important to recognize that 2022 marked a record year for the CGM segment, driven by customers replenishing inventories post-pandemic. Subsequently, as supply chain disruptions eased, customers scaled back on excess stock. Moreover, challenges such as higher interest rates, inflation, and geopolitical conflicts further complicated market conditions. Despite these obstacles, our ability to maintain the strong gains achieved in 2022 amid such challenges is commendable.

Our robust performance underscores the diversified nature of our investment portfolio spanning four key verticals: Consumer Goods Manufacturing, Infrastructure and Building Materials Manufacturing, Business Services, and Healthcare and Other. Throughout 2023, this diversification strategy has proven effective, showcasing resilience across various sectors and geographic markets. While certain segments faced macroeconomic challenges like destocking in consumer goods, others enjoyed robust demand and predictable earnings streams, mitigating any negative impacts at the Company level.

Revenue decreased by AED 538.4 million, or by 4.9 per cent., to AED 10,427.9 million in the twelve months ended 31 December 2023 from AED 10,966.3 million in the twelve months ended 31 December 2022, primarily due to a cyclical correction in commodity prices including paper, copper, and chemicals.

Adjusted EBITDA decreased by AED 12.7 million, or by 2.4 per cent., to AED 509.6 million in the twelve months ended 31 December 2023 from AED 522.3 million in the twelve months ended 31 December 2022, primarily due to softening of EBITDA in the chemicals and paper businesses as a result of lower prices of raw materials and finished goods, largely offset by higher margins and volume in IBMM and Business Services divisions. As a percentage of revenue, Adjusted EBITDA margin decreased from 13.3 per cent. to 12.6 per cent.

Segmental Performance

Consumer Goods Manufacturing

CGM comprises three product lines: Printing and writing paper, tissue, and chemicals used in detergents and personal care products. The nature of the products the Company manufactures are fast moving essential goods which enables its Consumer Goods margins to remain relatively resilient during economic downturns. In the 12 months ended 31 December 2023, the Company’s three consumer goods products  accounted for 18 per cent of the Company’s revenue and 41 per cent of its adjusted EBITDA.

Revenue decreased by AED 220.8 million, or by 10.4 per cent., to AED 1,906.7 million in the twelve months ended 31 December 2023 from AED 2,127.5 million in the twelve months ended 31 December 2022, primarily due to a post COVID drop in demand and prices of chemicals from June 2022 onwards as a result of destocking and normalization in supply chain, and a cyclical correction in the prices of tissue and paper during the second and third quarter of 2023.

Adjusted EBITDA decreased by AED 125.1 million, or by 37.6 per cent., to AED 207.7 million in the twelve months ended 31 December 2023 from AED 332.9 million in the twelve months ended 31 December 2022, primarily due to softening of margins as a result of lower prices of tissue, paper and chemical driven by a significant correction in raw material prices on the back of easing of supply chain crunch. Some of the excess demand growth of 2022 caused paper inventories to swell, contributing to de stocking and thereby softening of demand during second and third quarter in 2023. The impact was more significant in the chemical business due to much lower post-pandemic demand for cleaning and disinfecting chemicals.

Infrastructure and Building Materials Manufacturing

IBMM division comprises three product lines: Refined copper rods, steel bars, and cement. The copper business enjoys a positive outlook due to strong demand propelled by the increasing adoption of alternative energy sources and electric vehicles, aligned with global trends favoring energy transition initiatives. Similarly, the overall building materials segment has experienced a surge in sales and improved margins, fuelled by substantial infrastructure investments and heightened construction activity in key markets such as the UAE and Saudi Arabia. In the 12 months ended 31 December 2023, IBMM accounted for 73 per cent of the Company’s revenue and 32 per cent of its adjusted EBITDA.

Revenue decreased by AED 444.3 million, or by 5.5 per cent., to AED 7,643.9 million in the twelve months ended 31 December 2023 from AED 8,088.2 million in the twelve months ended 31 December 2022, primarily due to a lower average price of copper during the period. Cement and steel business experienced healthy demand from the regional market on account of strong push for real estate and infrastructure projects, partly offset the decrease in copper.

Adjusted EBITDA increased by AED 90.7 million, or by 125.1 per cent., to AED 163.2 million in the twelve months ended 31 December 2023 from AED 72.5 million in the twelve months ended 31 December 2022, primarily due to higher margins and sales volume in the copper, steel and cement businesses.

Business Services

The Company’s business services division provides: Long-term procurement, maintenance, and operation of radiology departments in Government-owned hospitals; Operation and maintenance services for infrastructure networks, wastewater treatment plants, sewage network and sewage treatment plants; and city cleaning and municipal waste collection. In the 12 months ended 31 December 2023, Business Services accounted for 6 per cent of the Company’s revenue and 28 per cent of its adjusted EBITDA.

Revenue increased AED 66.3 million, or by 12.8 per cent., to AED 585.4 million in the twelve months ended 31 December 2023 from AED 519.0 million in the twelve months ended 31 December 2022, primarily due to an increase in work orders in the sewage and infrastructure business.

Adjusted EBITDA increased by AED 20.4 million, or by 16.5 per cent., to AED 144.2 million in the twelve months ended 31 December 2023 from AED 123.8 million in the twelve months ended 31 December 2022, primarily due to improved margins in city cleaning and waste collection and an increase in work orders in the operation and maintenance of sewage networks.

Healthcare and other

The division comprises of healthcare, fund management, logistics and transportation, and interior design services for government and the private sector. These businesses, in alignment with our Business Services division, have minimal asset requirements and operate in sectors with promising growth prospects. In the 12 months ended 31 December 2023, Healthcare and other accounted for 3 per cent of the Company’s revenue and 5 per cent of its adjusted EBITDA.

Revenue increased by AED 131.5 million, or by 83.6 per cent., to AED 288.7 million in the twelve months ended 31 December 2023 from AED 157.3 million in the twelve months ended 31 December 2022, primarily due to an increase in sales of medical lab equipment, operating theatres, hospital beds, office furniture and a revenue ramp up of the newly expanded operation in Egypt and Saudi Arabia.

Adjusted EBITDA improved to AED 27.4 million in the twelve months ended 31 December 2023 from AED 6.1 million in the twelve months ended 31 December 2022, primarily due to increased margin on account of increase in sales of medical lab equipment, operating theatres, hospital beds, office furniture and a revenue ramp up of the newly expanded operation in Egypt and KSA.

Outlook

Ittihad expects further growth at the EBITDA level, with revenues across verticals expected to organically expand. Moreover, improvements in margins are anticipated within the Consumer Goods vertical as the segment supply and demand dynamics normalize.

From an operational standpoint, Ittihad is strategically positioned to drive growth within its portfolio. In Q2 2024, the commissioning of our copper recycling plant is scheduled, along with additional expansion plans for the recently acquired waste collection operation in Saudi Arabia.

Looking ahead, the Company’s primary focus over the next five years will be on organic growth and sustainability. Expansion into Saudi Arabia will remain a key priority, alongside ongoing investments in human capital development and the advancement of our ESG program.

About Ittihad

Ittihad is a privately owned business founded in 2008 and headquartered in the United Arab Emirates (UAE), with investments in the UAE, Saudi Arabia, and Egypt. The Company exports products and services to over 50 countries worldwide. It has a talented team of more than 8,000 members from over 57 nationalities with sector-wide expertise and a commitment to operational excellence.

Since 2015, Ittihad has pursued a strategy of investing in businesses with leading domestic positions in the UAE and the Gulf Cooperation Council (GCC), as well as strong international export potential. The Company focuses on long-term investments, all structured for business-to-business (B2B) export and designed to capture the unique value proposition offered by the UAE and the region.

Ittihad is committed to powering wealth creation through assets that balance profitability with sustainability and generate positive outcomes for stakeholders, society, and the planet.

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Saudi Tadawul Group and Sahm Capital to collaborate on ‘Invest Wisely Program’

HONG KONG SAR – Media OutReach Newswire – 17 May 2024 – Sahm Capital, the leading all-in-one online brokerage in the Kingdom, is excited to announce its sponsorship with the Saudi Tadawul Group for the highly anticipated “Invest Wisely Program.” The announcement was made during the Capital Markets Forum in Hong Kong, where industry leaders gathered to discuss the future of global capital flows.

The sponsorship for “Invest Wisely Program” is set to launch in the second half of 2024. It is a groundbreaking financial literacy initiative designed to empower participants with the knowledge and skills necessary to become successful investors. Through a dynamic virtual platform, participants will have the opportunity to learn, engage, practice, and compete in a simulated trading environment that mirrors the real-life experience of stock market trading.

Hadeel Bedeeri, the General Manager of Sahm Capital, expressed her enthusiasm about the partnership, stating, “As the first all-in-one online brokerage in the Kingdom, this program aligns perfectly with Sahm Capital’s commitment to raising awareness and knowledge among existing and potential investors. As Saudi Arabia continues its journey towards a more institutionalized market with increasing participation, well-informed and equipped investors will be empowered to make more informed investment decisions.”

The comprehensive “Invest Wisely Program” encompasses investment workshops, access to learning materials, and a cutting-edge trading simulation platform that allows participants to create virtual portfolios while gaining invaluable experience trading on the Saudi Exchange. Additionally, a competition will provide an opportunity for participants to showcase their trading skills and knowledge, with prizes generously sponsored by Sahm Capital.

Established in 2022, Sahm Capital has swiftly established itself as a pioneer in the online brokerage industry. In October 2023, Sahm Capital received final approval from the Capital Market Authority (CMA) to conduct dealing, advising, and custody services in Saudi Arabia, making it the first international online brokerage firm to offer its services in the country.

In December 2023, Sahm Capital launched the Sahm App, which has quickly gained popularity and now ranks among the top three free financial apps in Google Play. The Sahm App stands out as the first application in the Kingdom to offer seamless one-click switching between Saudi and U.S. stock accounts in real time, enabling users to engage in trading and currency conversion effortlessly.

About Saudi Tadawul Group:

Founded in 2021 and headquartered in Riyadh, Saudi Tadawul Group is a holding company with a portfolio of four integrated subsidiaries: the Saudi Exchange, one of the largest 10 stock exchanges in the world by market capitalization, the Securities Clearing Center Company (Muqassa), the Securities Depository Center Company (Edaa), and Wamid, an innovative applied technology services business. Saudi Tadawul Group was established as part of a continuous development program focused on enhancing the capital market and its infrastructure, attracting foreign investments, and diversifying the Saudi economy. The Group reinforces Saudi Arabia’s position as an attractive global investment destination and the gateway to the MENA region.

Saudi Tadawul Group supports the development of an advanced capital market in Saudi Arabia; one of the pillars of the Financial Sector Development Program (FSDP), a Saudi Vision 2030 realization program.

Sahm Capital

Registered in Riyadh, Sahm Capital holds licenses (22251-25) from the Capital Market Authority (CMA) to conduct Dealing, Advising, and Custody services in KSA, making it the first international online brokerage firm to provide online brokerage services in KSA. The company is also a registered member of the Saudi Exchange, as well as its affiliates, the Securities Depository Center Company (Edaa) and the Securities Clearing Center Company (Muqassa). For more information about Sahm, please visit: https://www.sahmcapital.com/

Mohamed bin Zayed: A knight of generosity, a champion of global humanitarian work


ABU DHABI: President His Highness Sheikh Mohamed bin Zayed Al Nahyan is a beacon of inspiration in the global humanitarian landscape, and His Highness’ life has been distinguished by unwavering support for people and nations in crisis.

Through his leadership in charitable and humanitarian projects worldwide, His Highness has continued to foster a culture of compassion and generosity.

The humanitarian initiatives of His Highness have contributed to strengthening the UAE’s position as a leading global donor in providing developmental and charitable assistance. His noble initiatives have followed the path laid by the late Sheikh Zayed bin Sultan Al Nahyan, exemplifying the principles of human fraternity, tolerance, coexistence, and peace that the UAE promotes around the world.

The recent granting of the ‘Global Humanitarian Personality’ award to His Highness by the Parliamentary Assembly of the Mediterranean (PAM) underscores global recognition and appreciation for His Highness’ role and continued contributio
ns to humanitarian relief efforts worldwide. The award has further solidified his status as one of the most notable models in the history of humanitarian work.

As a result of His Highness’ guidance and support, the UAE’s response to humanitarian crises has become an enduring feature around the world in recent years. This affirms that the country’s generosity knows no bounds, irrespective of geographical location, ethnicity, or religion.

Health

The journey of President His Highness Sheikh Mohamed bin Zayed Al Nahyan has been enriched with generosity, support, and initiatives aimed at advancing the healthcare sector worldwide, thereby enhancing international efforts to combat epidemics and diseases that pose a significant threat to human life.

During the COVID-19 pandemic, which was one of the most prominent contemporary health challenges to have swept the world, His Highness swiftly extended a helping hand both near and far by inaugurating hospitals, providing vaccines, establishing humanitarian cities, an
d sending aid to the world without discrimination or distinction.

The humanitarian aid provided by the UAE during the pandemic included more than 2,000 tonnes of medical supplies directed through approximately 200 flights to 135 countries around the world.

The UAE set up field hospitals and mobile clinics during the pandemic in countries such as Sudan, Guinea, Mauritania, Sierra Leone, Lebanon, Jordan, Turkmenistan, and others. Additionally, aid was sent to 117 countries from the warehouses of international organisations located in the Dubai International Humanitarian City. Furthermore, a donation of US$ 10 million in-kind assistance was made by the UAE to the World Health Organization (WHO).

At the same time, the UAE has continued its multifaceted efforts and initiatives to achieve a world free from neglected tropical diseases (NTDs) that affect the lives of over 1.6 billion people. His Highness Sheikh Mohamed bin Zayed Al Nahyan launched the Reaching the Last Mile Fund (RLMF) in 2017, a multi-donor fund
with allocations of approximately US$ 500 million to support efforts to eradicate two NTDs in Africa.

Since its inception, the Fund has provided over 100 million treatments and contributed to the training of 1.3 million healthcare workers in close partnership with the countries where NTDs are endemic.

During the Reaching the Last Mile Forum held on the sidelines of COP28 last December, the UAE joined leaders from African countries and global partners in pledging over US$ 777 million to combat NTDs.

Furthermore, as part of His Highness Sheikh Mohamed bin Zayed’s initiative to eradicate polio worldwide, the UAE provided Pakistan with approximately 667.5 million doses of the polio vaccine from 2014 until the end of 2022, benefitting 17 million children.

The establishment of the Global Institute for Disease Elimination (GLIDE) in 2019 by His Highness Sheikh Mohamed bin Zayed Al Nahyan, in partnership with the Bill and Melinda Gates Foundation, served as a crucial addition to the global health sector and its
efforts to accelerate the eradication of preventable infectious diseases, particularly malaria, polio, NTDs, lymphatic filariasis, and river blindness.

Operation Chivalrous Knight

In February 2023, President His Highness Sheikh Mohamed bin Zayed Al Nahyan initiated Operation Chivalrous Knight 2 to support the people of Syria and Trkiye following the devastating earthquake that affected both countries.

The operation, which lasted until 13th July of the same year, was one of the most successful unified operations carried out by UAE entities. Its priorities were determined in coordination with authorities in the affected countries, embodying the UAE’s prominent humanitarian approach in line with the directives of its leadership to support communities around the world.

The operation resulted in the rescue of dozens from under the rubble and the treatment of 13,463 cases. Additionally, humanitarian assistance amounting to 15,164 tonnes was provided through an air bridge, which organised 260 flights carrying 6,
912 tonnes of emergency aid, including tents, essential food, and medicines. Furthermore, 8,252 tonnes of humanitarian aid were transported using 4 cargo ships to deliver relief and reconstruction materials to the affected areas.

On 5th November of the same year, His Highness ordered the commencement of Operation Chivalrous Knight 3 to support the Palestinian people in Gaza due to the critical circumstances they have faced.

As part of the operation, total relief aid provided by the UAE to the Palestinian people until 8th May of the following year amounted to approximately 22,627 tonnes, transported via 224 cargo planes and 803 trucks, in addition to 3 cargo ships carrying aid.

The UAE inaugurated a comprehensive field hospital in the Gaza Strip and sent a floating hospital off the coast of Al Arish to treat Palestinian patients. Additionally, it established 6 desalination stations with a production capacity of 1.2 million gallons per day and provided 5 bakeries with a production capacity of 12,500-15,000 l
oaves per hour.

His Highness directed the hosting of one thousand Palestinians from Gaza suffering from cancer of all age groups to receive treatment and healthcare in UAE hospitals. He also directed the hosting of one thousand Palestinian children accompanied by their families from Gaza and the provision of all necessary healthcare until their recovery and return.

The UAE launched a campaign to aid Palestinians affected by the war in Gaza under the slogan ‘Tarahum for Gaza’, involving humanitarian and charity institutions, volunteering centres, the private sector, and all segments of society in the country, as well as the media.

Natural Disasters

The UAE’s response to aid those affected by natural disasters worldwide embodies a key element of the UAE’s humanitarian work under the leadership of President His Highness Sheikh Mohamed bin Zayed Al Nahyan.

Under His Highness’ directives, the UAE swiftly provided humanitarian and relief aid in 2023 to those affected by Storm Daniel in Libya and the earthquake
in some areas of Morocco. The UAE’s relief and humanitarian efforts also covered a significant number of countries, such as Sudan, Somalia, Mozambique, Pakistan, Afghanistan, Chad, and others facing natural disasters or humanitarian emergencies.

On 19th May 2022, His Highness directed the provision of urgent humanitarian aid worth AED 35 million to Somalia to support development efforts. In June of the same year, His Highness ordered the operation of an airlift carrying comprehensive food baskets, essential medical supplies, and a medical team, along with a field hospital, to aid victims of the earthquake in Afghanistan.

In response to the needs of the Palestinian people, His Highness directed the allocation of US$ 25 million on 9th July 2022 to support Al Makassed Hospital in East Jerusalem to expand its medical services. Additionally, in August of the same year, His Highness ordered the provision of urgent humanitarian aid worth AED 25 million to those affected and displaced due to floods in Sudan. He als
o directed the provision of urgent relief to Pakistan, which witnessed floods and displacement in several regions.

On 18th October 2022, His Highness directed the provision of additional humanitarian relief worth US$ 100 million to civilians affected by the crisis in Ukraine, emphasising his belief in the importance of humanitarian solidarity, especially in times of conflict.

Mohamed bin Zayed Water Initiative

In line with the directives of His Highness, the UAE launched the Mohamed bin Zayed Water Initiative in February 2024 to address the urgent global challenge of water scarcity.

The initiative aims to raise awareness of the seriousness of the water scarcity crisis on an international level while accelerating the development of innovative technological solutions to address it. Additionally, it seeks to test the effectiveness of these solutions in confronting this escalating global challenge.

Moreover, the initiative strives to enhance cooperation with partners and stakeholders worldwide to advance tec
hnological innovation in addressing water scarcity and expand international cooperation. It also seeks to increase investments aimed at overcoming this challenge for the benefit of current and future generations.

On 1st March, a partnership was announced between the Mohamed bin Zayed Water Initiative and the American XPRIZE foundation to launch the XPRIZE Water Scarcity competition, funded by the initiative with US$ 150 million. The competition includes prizes totalling US$ 119 million to incentivise innovators around the world to submit effective and sustainable solutions and develop them to enhance the efficiency and affordability of water desalination technologies.

Zayed’s Legacy

On 29th March 2024, President His Highness Sheikh Mohamed bin Zayed Al Nahyan directed the launch of the Zayed Humanitarian Legacy Initiative worth AED 20 billion, allocated for humanitarian activities in the most vulnerable communities around the world. This coincided with Zayed Humanitarian Day and the 20th anniversary of the
passing of the UAE’s Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan.

The launch of the initiative aims to reinforce the humanitarian values embodied by the late Sheikh Zayed and extend his humanitarian legacy and the values of generosity and giving that he embraced in supporting humanitarian work worldwide.

This global humanitarian initiative seeks to enhance the quality of life for communities in need to build a prosperous future and achieve sustainable development. It also reaffirms the UAE’s commitment to the approach of the late Sheikh Zayed in contributing to community building and supporting vulnerable groups, thereby benefiting millions of people.

Source: Emirates News Agency

A citizen was injured and another was arrested during the occupation storming east of Nablus

A citizen was injured today, Friday, by rubber-coated metal bullets, and another was arrested during an Israeli occupation forces storming east of Nablus.

Security sources reported that a number of occupation jeeps stormed the east of the city of Nablus, where confrontations took place between the old and new Askar camps, during which the occupation forces fired live and metal bullets, tear gas bombs, and stun grenades, which led to the injury of a citizen with a rubber-coated metal bullet in the head. .

The sources added that the occupation soldiers raided a house in the old Askar camp, searched it and tampered with its contents, and arrested the young man, Amir Al-Amir

Source: Maan News Agency

Israeli occupation kills 31, injures 56 in new massacres in Gaza

Israeli occupation forces have committed four new massacres against families in the Gaza Strip over the past 24 hours, leaving 31 Palestinians martyred and 56 others injured, according to health authorities.

Several Palestinian victims were still trapped under the rubble of devastated houses as ambulance and civil defense teams faced difficulties in reaching them due to continued Israeli occupation shelling, they said in a press release.

Meanwhile, a 20-year-old Palestinian died of wounds he had sustained in an Israeli occupation shooting in eastern Nablus in the West Bank a couple of weeks ago, they said.

The number of Palestinian martyrs killed since the start of the Israeli aggression on the Gaza Strip on October 7th, 2023, has thus jumped to 35,303, while 79,261 others have been wounded.

Source: Kuwait News Agency

The funeral of the martyr Karim Amir in Tulkarm

After Friday prayers, the masses of Tulkarm Governorate mourned the body of the martyr Karim Raeq Abdel Raouf Amir (23 years old), in the town of Balaa, east of the governorate.

The funeral procession began from the Martyr Thabet Thabet Governmental Hospital in Tulkarm, amid loud blares and angry national chants denouncing the crimes of the Israeli occupation, and demanding an end to the aggression and massacres against our people.

The mourners roamed the streets of the city towards Shweika roundabout, before the body was transported by vehicles to his hometown of Bala’a, towards his family’s home, for his parents and relatives to pay their last respects to him. Then prayers were held over his pure body in the courtyard of the Bala’a Martyrs Boys’ Secondary School, before he was buried in the Martyrs’ Cemetery. In the town.

The martyr Amir was martyred as a result of his critical injury after the occupation forces stormed the town at dawn on Friday, amid heavy live bullets

Source: Maan News Agency

UN offers recommendations for environmental protection laws

A new analysis from the UN Office on Drugs and Crime (UNODC) released on Friday finds that legal protection of the environment varies widely by country and region in terms of crimes covered and punishments given, and highlights priority areas for consideration to strengthen prevention and curb crimes that affect the environment.

In “The Landscape of Criminalization”, Part One of the first-ever Global Analysis of Crimes that Affect the Environment, UNODC examines how 193 UN Member States criminalize actions that harm the environment – and how such offences are penalized – across nine environment areas, namely deforestation and logging, air pollution, noise pollution, soil pollution, water pollution, fishing, waste, and wildlife.

“Our review shows that there has been progress globally in advancing environmental protection laws, but legislation and enforcement remain uneven, offering criminal groups opportunities to exploit gaps in responses,” said Angela Me, Chief of Research and Analysis at UNODC.

“Stronge
r legislation can help to deter potential and repeat offenders and also widen the range of investigative tools and resources for law enforcement to stop crimes that affect the environment,” she said.

Wildlife and waste are the areas where most countries (164 and 160, respectively) include at least one related criminal offence in their national legislation. In contrast, soil and noise pollution (99 and 97, respectively) are the areas where the fewest countries have criminal provisions.

At least 85 percent of UN Member States criminalize offences against wildlife and at least 45 per cent punish some of these offences with four years or more in prison, which constitutes a serious crime under the UN Convention Against Transnational Organized Crime (UNTOC), according to the analysis.

The level of protection afforded to the environment – as well as the penalties imposed – are closely related to the conditions in each country or region.

For example, 43 percent of countries in Oceania regard illegal fishing as a
serious crime (meaning it is punished with four years or more in prison), in contrast to just two per cent of countries in Europe. 12 out of 18 countries in Eastern Africa, meanwhile, regard wildlife offences as serious crimes, it added.

Africa and Asia have the highest average percentage of Member States with penalties meeting the serious crime definition, indicating that the legislation is not necessarily ‘weak’, as is commonly stated, but that there is a lack of enforcement of the legislation, it noted.

The report noted many areas for improvement of environmental legislation and penalties. Member States could consider increasing penalties to enable Member States to utilize UNTOC provisions for international cooperation (such as extradition or mutual legal assistance.) Countries could also consider improving legislation allowing for confiscation of the instrumentalities or proceeds of environmental offences. The current lack of such provisions may be leading to the prosecution of minor offenders, rather t
han the large economic interests that often drive crimes that affect the environment, it said.

Finally, the report underscored the need for more data collection on these crimes, enforcement of legislation, and more research on the penalties administered and the effects of these. Only with this information can it be understood which combinations of criminalization and restorative approaches are most affective at preventing crimes that affect the environment.

Source: Kuwait News Agency

Minister of Higher Education: Iraq provides a positive environment to attract international students

The Minister of Higher Education and Scientific Research, Naeem Al-Aboudi, confirmed today, Friday, that Iraq provides a positive environment to attract international students through the (Study in Iraq) initiative.

A statement from the ministry stated, “Al-Aboudi discussed with the head of the Turkish Scholarships Authority, Abdullah Eren, the development of mutual study programs and the empowerment of Iraqi students in specializations directly related to sustainable development.”

Al-Aboudi stressed in a joint meeting, “the importance of scientific and academic coordination and cultural relations between Iraqi and Turkish universities and the development of mutual scholarship programs in light of the contexts of understanding adopted by both sides,” noting, “Iraq provides a positive environment to attract international students through the Study in Iraq initiative.”

In turn, Eren expressed his ‘thanks to the Minister of Higher Education for the direct interest in developing cultural, scientific and acade
mic cooperation between the two countries.’

Source: National Iraqi News Agency

EU sends new aid to Gaza strip

The EU announced Friday that it has sent a new aid shipment from Cyprus to Gaza via the Maritime Corridor, and the newly constructed US pier to transport relief supplies.

The EU Commission announced in a statement that Romania has sent over 88,000 cans of food to Palestinians in need through the EU Civil Protection Mechanism, adding that it is covering the transport costs for this delivery.

Additionally, an EU logistics hub has been established in Cyprus to facilitate the ongoing flow of aid to Gaza.

The statement emphasized that the EU’s Emergency Response Coordination Centre remains in close contact with Member States and humanitarian partners to mobilize offers of assistance via the Maritime Corridor, aiming to increase aid supplies.

The new maritime aid delivery adds to over 2,000 metric tonnes from EU Humanitarian Air Bridge flights and Âpound 193 million in EU humanitarian funding for Palestinians this year.

The EU emphasized that the maritime corridor complements rather than replaces existing lan
d routes to Gaza, like those through the Kerem Shalom and Rafah crossings.

However, it urged the Israeli occupation to provide continuous access via new routes, such as the Erez crossing and the Port of Ashdod.

Source: Kuwait News Agency

Al-Sadr demands an official holiday by the Iraqi Parliament for Eid al-Ghadir

The leader of the Sadrist movement, Muqtada Al-Sadr, called for an official holiday by the Iraqi Parliament for Eid Al-Ghadir.

Al-Sadr said in his speech, ‘If Parliament votes on this, we are grateful, and if they do not vote, let them face Muhammad and Ali as an opponent.’

He added, “If Parliament does not vote, it will face an opponent from Muhammad and his family, Sunnis and Shiites

Source: National Iraqi News Agency