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Islamic Terrorism: 4 countries list Qatar-linked Terrorists and Organisations

The list was drawn up in the light of the shared commitment of the four countries to the fight against terrorism and its funding sources

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4 countries list Qatar linked terrorism organisations and individuals, Wikimedia
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  • Saudi Arabia, the UAE, Egypt and Bahrain have listed individuals and institutions that have financed terrorist organisations and received support from Qatar
  • The list was drawn up in the light of the shared commitment of the four countries to the fight against terrorism and its funding sources
  • Qatar announced it is fighting terrorism while financing, supporting and harbouring various terrorist organisations

Riyadh, June 9, 2017: Saudi Arabia, the UAE, Egypt and Bahrain designated on Friday 59 individuals and 12 institutions that have financed terrorist organisations and received support from Qatar.

The step was taken days after several nations severed diplomatic ties with Qatar for allegations that it was supporting terrorist and extremist groups in the region, which Qatar called “unjustified” and “baseless”.

The list was drawn up in the light of the shared commitment of the four countries to the fight against terrorism and its funding sources, Al Arabiya cited a statement posted by the Bahrain News Agency.

The list was also a result of “the continued violation by the authorities in Doha of its signed commitments and agreements that included a pledge not to support or harbour elements or organisations that threatened the security of states”, it said.

The majority of those entities sanctioned were linked to Qatar and were a manifestation of a Qatari government policy of duplicity, the statement read.

ALSO READFour Arab Nations Put Qatar on Terror Finance Watch List, Qatar Says No

“Such attitudes put the national security of the four countries at risk as targets for acts of sabotage and chaos by members of terrorist organisations that Qatar either hosts or supports.”

It criticised Qatar’s “double standard policy”, saying that the country announced it is fighting terrorism while financing, supporting and harbouring various terrorist organisations.

The four countries reaffirmed in the statement their commitment to consolidating all efforts to combat terrorism and to relentlessly pursue the individuals and groups on the list.

Most of the blacklisted individuals in the list are Qataris along with Qatari charitable organisations. A Libyan extremist group and four Bahraini groups were also listed as terrorist cells. (IANS)

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Saudi Arabia’s Sovereign Fund Invested $1 Billion In An American Electric Car Manufacturer

Saudi Arabia's 33-year-old Crown Prince Mohammed bin Salman has talked about using the PIF to help diversify the economy of the kingdom.

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lucid motors
Derek Jenkins, VP of Design at Lucid Motors, introduces the alpha prototype of the Lucid Air at the 2017 New York International Auto Show in New York City. VOA

Saudi Arabia’s sovereign wealth fund invested $1 billion Monday in an American electric car manufacturer just weeks after Tesla CEO Elon Musk earlier claimed the kingdom would help his own firm go private.

Tesla stock dropped Monday on reaction to the news, the same day that the Saudi fund announced it had taken its first loan, an $11 billion borrowing from global banks as it tries to expand its investments.

The Saudi Public Investment Fund said it would invest the $1 billion in Newark, California-based Lucid Motors.

Lucid Motors
Lucid Motors. Flickr

The investment “will provide the necessary funding to commercially launch Lucid’s first electric vehicle, the Lucid Air, in 2020,” the sovereign wealth fund said in a statement. “The company plans to use the funding to complete engineering development and testing of the Lucid Air, construct its factory in Arizona, enter production for the Lucid Air to begin the global rollout of the company’s retail strategy starting in North America.”

Lucid issued a statement quoting Peter Rawlinson, its chief technology officer, welcoming the investment.

“At Lucid, we will demonstrate the full potential of the electric-connected vehicle in order to push the industry forward,” he said.

The decision comes after Musk on Aug. 7 tweeted that he had “funding secured” to take Tesla private. Investors pushed Tesla’s shares up 11 percent in a day, boosting its valuation by $6 billion.

Lucid Motors
Electric Car

There are multiple reports that the U.S. Securities and Exchange Commission is investigating the disclosure, including asking board members what they knew about Musk’s plans. Experts say regulators likely are investigating if Musk was truthful in the tweet about having the financing set for the deal. Musk later said the Saudi Public Investment Fund would be investing in the firm, something Saudi officials never comment on.

Meanwhile Monday, the sovereign wealth fund known by the acronym PIF said it had taken its first loan, an $11 billion borrowing. It did not say how it would use the money, only describing it as going toward “general corporate purposes.”

Also Read: Electric Cars: The Newest Trend in India

The Las Vegas-based Sovereign Wealth Fund Institute estimates the Saudi fund has holdings of $250 billion. Those include a $3.5 billion stake in the ride-sharing app Uber.

Saudi Arabia’s 33-year-old Crown Prince Mohammed bin Salman has talked about using the PIF to help diversify the economy of the kingdom, which relies almost entirely on money made from its oil sales. (VOA)