Iran reopens embassy in Saudi Arabia after 7 years

News Network
June 7, 2023

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Riyadh, June 7: Iran reopened it embassy in Saudi Arabia for the first time in seven years on Tuesday (June 6). The move has reaffirmed a Chinese-brokered rapprochement between two formerly antagonistic powers in West Asia. The rapprochement is likely to change the equations in the region greatly. 

The Iranian mission has opened in its former premises in Riyadh's diplomatic quarter. The location is near Syria's embassy, the reopening of which is expected soon following Saudi outreach to Damascus. 

"We consider today an important day in the relations of the Islamic Republic of Iran and the Kingdom of Saudi Arabia," Iranian Deputy Foreign Minister Alireza Bigdeli told a flag-raising ceremony.

"The cooperation between the countries is entering a new era."

Iran and Saudi Arabia agreed to restart their respective embassies in the month of March this year. Both countries resolved to work towards resuming ties. In 2016, Saudi Arabia has broken off relations with Iran following Iranian protests.

On its part now, Saudi Arabia is yet to confirm when it will open its embassy in the Iranian capital of Tehran. It is also yet to decide who will be the ambassador. A Saudi delegation however, visited the Iranian capital in April.

Blinken in Saudi Arabia

The reopening of Iranian embassy coincided with a visit by US Secretary of State Antony Blinken to Saudi Arabia. Blinken's meet to Saudi Arabia has come as the oil-rich kingdom has been establishing closer ties with Washington's rivals.

The ceremony at the embassy was also attended by Ali Al Youssef, director of consular affairs at the Saudi foreign ministry.

The mission returns under the leadership of Alireza Enayati, Iran's former ambassador to Kuwait.

Saudi Arabia, a Sunni Muslim power, severed ties with Shia-led Iran in 2016 after its embassy in Tehran and consulate in Mashhad were attacked during protests which erupted after Riyadh executed Shiite cleric Nimr al-Nimr.

After years of discord, the two Middle East heavyweights signed a surprise reconciliation agreement in China on March 10.

Since then, Saudi Arabia has restored ties with Tehran ally Syria and ramped up a push for peace in Yemen, where it has for years led a military coalition against the Iran-backed Huthi forces.

Iran and Saudi Arabia have backed opposing sides in conflict zones across the Middle East for years.

Blinken is expected to meet the Saudi de facto leader Crown Prince Mohammed bin Salman in Jeddah during his visit, according to a US official.

The top US diplomat is also due to attend a Gulf Cooperation Council meeting in Riyadh on Wednesday.

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News Network
March 22,2024

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The start of the world’s most lucrative cricket tournament in India is presenting investors with another big opportunity to cash in on the sport, months after the world’s most populous nation hosted the Cricket World Cup.

The eight-week long Indian Premier League begins March 22 for its 17th season. Since its inception, the fast-paced cricket tournament has become a corporate juggernaut to rival the National Football League in the US and the English Premier League in value.

Just as October’s Cricket World Cup boosted consumption in India for months, fans are expected to flock to restaurants, pubs and food delivery platforms over the duration of the tournament. This year’s IPL also coincides with general elections that will last for six weeks starting April 19, a period when companies are expecting higher food and drink sales as people flock to rallies and other events.

“There’s going to be a lot of spending,” said Madan Sabnavis, chief economist at Bank of Baroda. “IPL, as well as the election, gives a three-month corridor with enhanced economic activity.”

Stocks in India such as McDonald’s franchise operator Westlife Foodworld Ltd. and peer Sapphire Foods India Ltd. gained ahead of the first match on Friday, as well as hotels and beverage makers. Packaged-food companies could also stand to benefit from the IPL craze, said Sachil Bobade, an analyst at investment firm Dolat Capital Market.

The IPL ecosystem was valued at $11 billion (Rs 91,721 crores) in 2023, including the value of media rights and sponsorships, according to Indian valuation consulting firm D&P Advisory.

The league is also attracting record sums of money from sponsors and broadcasters. Conglomerate Tata Group won the title sponsorship rights of the tournament in January for a record 25 billion rupees ($300 million). Billionaire Mukesh Ambani’s media venture secured the digital streaming rights in 2022 for five years for $2.7 billion, while Walt Disney Co. paid roughly the same for TV rights.

“There was a serious amount of bidding even this year,” said Vinit Karnik, head of entertainment, esports and sports at media agency GroupM South Asia. “I see growth in IPL in double digits year-on-year,” he adds.

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News Network
March 27,2024

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Gokarna (Uttara Kannada): Karnataka Deputy Chief Minister D K Shivakumar on Wednesday said the Congress will decide about making him the Chief Minister in future, bringing to the fore again the issue of leadership change.

There was stiff competition between Siddaramaiah and Shivakumar for the Chief Minister's post after the Assembly election results in May last year, and the Congress had managed to convince the latter and made him the Deputy Chief Minister.

There were some reports at the time that a compromise had been reached based on a "rotational Chief Minister formula," according to which Shivakumar will become CM after two-and-half years but they have not been officially confirmed by the party.

During a temple visit here, a priest prayed that God's blessings may be showered on Shivakumar, and he became the Chief Minister.

Speaking to reporters here in Uttara Kannada district, Shivakumar, who has in the past made no secret of his ambition to become Chief Minister, amid speculations of change in guard mid-way of the Assembly term, responded to talk in some political circles about the leadership issue.

"What's wrong if a priest expresses his desire before God while praying? The priest has expressed his desire. Now Siddaramaiah is the Chief Minister, I'm working as Deputy Chief Minister under him, also as party's state President. People speak about it and desiring it (Shivakumar should become CM) is a different matter, it will be decided by our party," Shivakumar said.

"Now we are all working under the leadership of Siddaramaiah, and our desire is that the state should progress further under his leadership," he said.

"There will be people including supporters and priests, who pray for us, they will express their opinion. Can we stop them from doing it? At the temple it is between God and his disciple, they have expressed their feelings to God," Shivakumar added. 

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News Network
March 19,2024

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Mangaluru: The Mangalore International Airport (MIA) will connect to a new domestic destination with the introduction of a non-stop flight to Tiruchirappalli International Airport in Tamil Nadu. 

The non-stop service, once-a-week, will operate on Wednesday (from TIA) and Thursday (from MIA), starting April 3. Air India Express will operate the flight.

The flight is expected to help those taking up a pilgrimage to Vailankani shrine.

Sources from the AIE said that the airline carrier decided to fly non-stop between the two southern Indian cities as a flight to Jeddah, which will start from April 3, arrives from Tiruchirappalli International Airport. 

“It is a ferry or positional flight from TIA to MIA. Instead of flying empty, the management has decided to run it as a commercial flight. This will help both passengers and the airline. The airline will deploy Boeing 737-800 aircraft with a 186-seater all-economy configuration on this route. 

The same flight, after landing in MIA, will further fly to Jeddah,” a source said. 

The flight IX 1498 will depart every Thursday at 5am from MIA to TIA. The TIA-MIA flight IX 1499 departs at 12.50pm. It is a one-hour nonstop flight. The same flights will also operate nonstop between Jeddah and MIA. 

The non-stop flight IX 499 will depart MIA at 2.50pm and reach King Abdulaziz International Airport, Jeddah at 6.25pm. The IX498, will depart from Jeddah at 7.25pm and reach MIA early at 3.40am.

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