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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

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.”


Strike hits south Beirut after Israel evacuation call

Strike hits south Beirut after Israel evacuation call
Updated 15 sec ago

Strike hits south Beirut after Israel evacuation call

Strike hits south Beirut after Israel evacuation call
  • Israeli drone fires two missiles at the Beirut suburb of Ghobeiry before the air force carried out a ‘very heavy’ strike
  • Since September 23, Israel has ramped up its air campaign in Lebanon, later sending in ground troops
BEIRUT: An air strike hit the Lebanese capital’s southern suburbs on Friday, sending plumes of grey smoke into the sky after the Israeli military called for people to evacuate, AFPTV images showed.
Lebanon’s state-run National News Agency said an Israeli drone fired two missiles at the Beirut suburb of Ghobeiry before the air force carried out a “very heavy” strike that levelled a building near municipal offices.
The evacuation order posted on X by Israeli army spokesman Avichay Adraee told residents to leave, warning of imminent strikes.
“All residents in the southern suburbs, specifically ... in the Ghobeiry area, you are located near facilities and interests affiliated with Hezbollah,” Adraee said in his post.
“For your safety and the safety of your family members, you must evacuate these buildings and those adjacent to them immediately.”
His post included maps identifying buildings in the area near Bustan High School.
Repeated Israeli air strikes on south Beirut have led to a mass exodus of civilians from the Hezbollah stronghold, although some return during the day to check on their homes and businesses.
NNA also reported pre-dawn strikes on the southern city of Nabatieh.
The Israeli military said it had struck “command centers” of Hezbollah’s elite Radwan Force and launchers used to fire rockets at Israel on Thursday.
It said that over the past day, the air force had struck more than 120 targets across Lebanon, including weapons storage facilities, command centers and a large number of rocket launchers.
Since September 23, Israel has ramped up its air campaign in Lebanon, later sending in ground troops following almost a year of limited, cross-border exchanges begun by Hezbollah over the Gaza war.
Lebanese authorities say that more than 3,380 people have been killed since October last year, when Hezbollah and Israel began trading fire.
The conflict has cost Lebanon more than $5 billion in economic losses, with actual structural damage amounting to billions more, the World Bank said on Thursday.

Israel’s warfare in Gaza consistent with genocide, UN committee finds

Israel’s warfare in Gaza consistent with genocide, UN committee finds
Updated 15 November 2024

Israel’s warfare in Gaza consistent with genocide, UN committee finds

Israel’s warfare in Gaza consistent with genocide, UN committee finds
  • Committee’s report states ‘Israeli officials have publicly supported policies that strip Palestinians of the very necessities required to sustain life’
  • It raises ‘serious concern’ about Israel’s use of AI to choose targets ‘with minimal human oversight,’ resulting in ‘overwhelming’ casualties among women and children

NEW YORK: Israel’s methods of warfare in Gaza, including the use of starvation as a weapon, mass civilian casualties and life-threatening conditions deliberately inflicted on Palestinians in the territory, are consistent with the characteristics of genocide, the UN Special Committee to Investigate Israeli Practices said in a report published on Thursday.

“Since the beginning of the war, Israeli officials have publicly supported policies that strip Palestinians of the very necessities required to sustain life: food, water and fuel,” the committee said.

Statements from Israeli authorities and the “systematic and unlawful” blocking of humanitarian aid deliveries to Gaza make clear “Israel’s intent to instrumentalize life-saving supplies for political and military gains,” it added.

The committee, the full title of which is the UN Special Committee to Investigate Israeli Practices Affecting the Human Rights of the Palestinian people and other Arabs of the Occupied Territories, was established by the UN General Assembly in 1968 to monitor the human rights situation in the occupied Golan heights, the West Bank, including East Jerusalem, and the Gaza Strip. It comprises the permanent representatives to the UN from three member states, currently Malaysia, Senegal and Sri Lanka, who are appointed by the president of the General Assembly.

Its latest report, which covers the period from October 2023 to July 2024, mostly focuses on the effects of the war in Gaza on the rights of Palestinians.

“Through its siege over Gaza, obstruction of humanitarian aid, alongside targeted attacks and killing of civilians and aid workers, despite repeated UN appeals, binding orders from the International Court of Justice and resolutions of the Security Council, Israel is intentionally causing death, starvation and serious injury, using starvation as a method of war and inflicting collective punishment on the Palestinian population,” the committee said.

The “extensive” Israeli bombing campaign has wiped out essential services in Gaza and caused an “environmental catastrophe” that will have “lasting health impacts,” it adds.

By early 2024, the report says, more than 25,000 tonnes of explosives, equivalent to two nuclear bombs, had been dropped on Gaza, causing “massive” destruction, the collapse of water and sanitation systems, agricultural devastation and toxic pollution. This has created a “lethal mix of crises that will inflict severe harm on generations to come,” the committee said.

The report notes “serious concern” about Israel’s use of artificial intelligence technology to choose its targets “with minimal human oversight,” the consequence of which has been “overwhelming” numbers of deaths of women and children. This underscores “Israel’s disregard of its obligation to distinguish between civilians and combatants and take adequate safeguards to prevent civilian deaths,” it adds.

In addition, Israel’s escalating censorship of the media and targeting of journalists are “deliberate efforts” to block global access to information, the committee found, and the report states that social media companies have disproportionately removed “pro-Palestinian content” in comparison with posts inciting violence against Palestinians.

The committee also condemned the continuing “smear campaign” and other attacks on the reputation of the UN Relief and Works Agency for Palestine Refugees, and the wider UN.

“This deliberate silencing of reporting, combined with disinformation and attacks on humanitarian workers, is a clear strategy to undermine the vital work of the UN, sever the lifeline of aid still reaching Gaza, and dismantle the international legal order,” it said.

It called on all states to honor their legal obligations to stop and prevent violations of international law by Israel, including the system of apartheid that operates in the West Bank and East Jerusalem, and to hold Israeli authorities accountable for their actions.

“Upholding international law and ensuring accountability for violations rests squarely on member states,” the committee said.

Failure to do this weakens “the very core of the international legal system and sets a dangerous precedent, allowing atrocities to go unchecked.”

The committee will officially present its report to the 79th Session of the UN General Assembly on Monday.


Israel’s attorney general tells Netanyahu to reexamine extremist security minister’s role

Israel’s attorney general tells Netanyahu to reexamine extremist security minister’s role
Updated 15 November 2024

Israel’s attorney general tells Netanyahu to reexamine extremist security minister’s role

Israel’s attorney general tells Netanyahu to reexamine extremist security minister’s role
  • National Security Minister Itamar Ben-Gvir criticized for interfering in police matters

JERUSALEM, Nov 14 : Israel’s Attorney General told Prime Minister Benjamin Netanyahu to reevaluate the tenure of his far-right National Security Minister Itamar Ben-Gvir, citing his apparent interference in police matters, Israel’s Channel 12 reported on Thursday.
The news channel published a copy of a letter written by Attorney General Gali Baharav-Miara in which she described instances of “illegitimate interventions” in which Ben-Gvir, who is tasked with setting general policy, gave operational instructions that threaten the police’s apolitical status.
“The concern is that the government’s silence will be interpreted as support for the minister’s behavior,” the letter said.
Officials at the Justice Ministry could not be reached for comment and there was no immediate comment from Netanyahu’s office.
Ben-Gvir, who heads a small ultra-nationalist party in Netanyahu’s coalition, wrote on social media after the letter was published: “The attempted coup by (the Attorney General) has begun. The only dismissal that needs to happen is that of the Attorney General.”


Israeli forces demolish Palestinian Al-Bustan community center in Jerusalem

Israeli forces demolish Palestinian Al-Bustan community center in Jerusalem
Updated 15 November 2024

Israeli forces demolish Palestinian Al-Bustan community center in Jerusalem

Israeli forces demolish Palestinian Al-Bustan community center in Jerusalem
  • Al-Bustan Association functioned as a primary community center in which Silwan’s youth and families ran cultural and social activities

LONDON: Israeli forces demolished the office of the Palestinian Al-Bustan Association in occupied East Jerusalem’s neighborhood of Silwan, whose residents are under threat of Israeli eviction orders. 

The Palestinian Authority’s Ministry of Culture condemned on Thursday the demolition of Al-Bustan by Israeli bulldozers and a military police force. 

The ministry said that “(Israeli) occupation’s arrogant practices against cultural and community institutions in Palestine, and specifically in Jerusalem, are targeting the Palestinian identity, in an attempt to obliterate it.” 

Founded in 2004, the Al-Bustan Association functioned as a primary community center in which Silwan’s youth and families ran cultural and social activities alongside hosting meetings for diplomatic delegations and Western journalists who came to learn about controversial Israeli policies in the area. 

Al-Bustan said in a statement that it served 1,500 people in Silwan, most of them children, who enrolled in educational, cultural and artistic workshops. In addition to the Al-Bustan office, Israeli forces also demolished a home in the neighborhood belonging to the Al-Qadi family. 

Located less than a mile from Al-Aqsa Mosque and Jerusalem’s southern ancient wall, Silwan has a population of 65,000 Palestinians, some of them under threat of Israeli eviction orders.  

In past years, Israeli authorities have been carrying out archaeological digging under Palestinian homes in Silwan, resulting in damage to these buildings, in search of the three-millennial “City of David.” 


Israeli strike kills 12 after hitting civil defense center in Lebanon’s Baalbek, governor tells Reuters

Israeli strike kills 12 after hitting civil defense center in Lebanon’s Baalbek, governor tells Reuters
Updated 14 November 2024

Israeli strike kills 12 after hitting civil defense center in Lebanon’s Baalbek, governor tells Reuters

Israeli strike kills 12 after hitting civil defense center in Lebanon’s Baalbek, governor tells Reuters
  • Eight others, including five women, were also killed and 27 wounded in another Israeli attack

CAIRO: An Israeli strike killed 12 people after it hit a civil defense center in Lebanon’s city of Baalbek on Thursday, the regional governor told Reuters adding that rescue operations were ongoing.
Eight others, including five women, were also killed and 27 wounded in another Israeli attack on the Lebanese city, health ministry reported on Thursday.
Meanwhile, Lebanese civil defense official Samir Chakia said: “The Civil Defense Center in Baalbek has been targeted, five Civil Defense rescuers were killed.”
Bachir Khodr the regional governor said more than 20 rescuers had been at the facility at the time of the strike.