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MBS effect: 11 protesting princes arrested in Saudi Arabia

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MBS effect: 11 protesting princes arrested in Saudi Arabia

Austerity measures force govt to stop paying utility bills for royals

In a development indicating severe division within royals in Saudi Arabia, eleven princes were arrested for staging a protest against the austerity measures introduced by Crown Prince Mohammad bin Salman (MBS).

The official Saudi Press Agency (SPA) announced about the arrests late on Saturday after another Saudi website Sabq, reported that 11 princes were detained after gathering at al-Hakem palace to demonstrate against a government decision to make the country’s royalty pay their utility bills.

According to Aljazeera, following their arrests the princes were sent to a notorious maximum-security facility south of the capital Riyadh.

In November 2017, dozens of high ranking figures, including princes and businessmen were detained in a luxury hotel under anti-corruption drive. Several of them were reportedly released after paying huge amount to the government while others have to face trial.

The SPA statement said, “They were arrested after they refused to leave the palace and were put in al-Ha’ir prison in preparation for their trial.”

Saudi Arabia and several other Arab countries are facing tough economic condition because of low oil prices and ongoing war against Yemen. Saudi led alliance has been pounding Yemen for more than two years.

Joseph Kechichian, a senior fellow at Riyadh based King Faisal Center for Research and Islamic Studies, has said, “The 11 individuals officially were arrested because they were complaining about the fact that they had asked for subsidies for water and electricity, and for some reason they were denied.”

He further said, “Other reports say that in fact they were cousins of a prince who was executed in October 2016 and that they had come to ask for retribution. It’s very conflicting at this point. We don’t know exactly what is going on.”

This is a rare occasion when someone from a government funded think tank has spoken before media about the incident apparently indicating differences among the members of Royal family.

Saudi Arabia recently introduced several economic reforms, including a value-added tax (VAT) and a halt to state payments of water and electricity bills for royal family members.

Meanwhile, King Salman decreed a series of financial payouts to ease the cost of living on Saturday. Each government employee will receive a monthly bonus of 1,000 riyals ($267) for the next year, while military personnel serving in Yemen will be paid a one-off fee of 5,000 riyals ($1,330).

Students will have their allowances increased by 10 percent for the next year, while retirees and social security recipients will get a monthly stipend of 500 riyals ($133). The state is facing 12 percent unemployment because of the economic crisis.

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Pakistan hit by 5.5-magnitude earthquake, no casualties or damage reported

A 5.5-magnitude earthquake jolted Pakistan on Friday, with authorities reporting no immediate casualties or significant damage.

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earthquake-tremors

A magnitude 5.5 earthquake struck Pakistan on Friday, sending tremors across several parts of the country. However, authorities said there were no immediate reports of casualties or significant property damage.

According to seismic monitoring agencies, the earthquake was recorded at a considerable depth, which may have reduced the impact on the surface. Residents in several cities reported feeling the tremors, prompting many to move outdoors as a precaution.

Emergency and disaster management authorities began assessing the situation soon after the quake. Initial assessments indicated that no major damage to infrastructure or loss of life had been reported. Officials continue to monitor the situation for possible aftershocks.

Pakistan lies in a seismically active region due to the interaction of the Indian and Eurasian tectonic plates, making earthquakes a frequent occurrence in several parts of the country.

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Twin earthquakes strike Venezuela within 39 seconds, triggering panic in Caracas

Venezuela witnessed two powerful earthquakes within 39 seconds, triggering panic in Caracas, damaging infrastructure and leading authorities to declare a state of emergency.

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Two powerful earthquakes struck Venezuela within just 39 seconds, causing widespread panic, damaging buildings and disrupting key infrastructure in and around the capital, Caracas.

According to the United States Geological Survey (USGS), the first earthquake measured magnitude 7.2 and struck on Wednesday evening near the coastal town of Moron. Just 39 seconds later, a stronger 7.5-magnitude tremor hit roughly 45 kilometres away, creating what seismologists described as a “doublet” earthquake sequence.

The back-to-back quakes sent residents rushing into the streets as buildings shook violently across Caracas. Several structures suffered severe damage, with reports of building collapses in parts of the capital. Rescue workers were deployed to search through rubble while emergency teams assessed the extent of the destruction.

Visuals shared on social media showed scenes of chaos at Simon Bolivar International Airport, where parts of the terminal roof reportedly collapsed, filling sections of the facility with dust and smoke. Passengers were seen evacuating the airport as power flickered during the tremors. Authorities later announced the closure of the airport because of significant damage.

More than 20 aftershocks were recorded following the twin earthquakes, raising concerns about additional structural damage. The USGS warned that the disaster could result in significant casualties and economic losses, while landslides were also reported in affected areas.

Venezuela’s interim president Delcy Rodriguez declared a state of emergency following the earthquakes and urged citizens to remain cautious as emergency response efforts continued. Opposition leader Maria Corina Machado also expressed solidarity with those affected by the disaster.

The earthquakes are being described as among the strongest to strike Venezuela in more than a century. Authorities continue to assess the full scale of the damage and search for possible victims trapped beneath collapsed structures.

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London court orders Nirav Modi to pay Bank of India over $11.5 million in loan guarantee case

A London court has ruled that fugitive businessman Nirav Modi must pay Bank of India more than $11.5 million, including interest, in a loan guarantee dispute.

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Fugitive diamond merchant Nirav Modi has been ordered by a London court to pay Bank of India more than $11.5 million, including accrued interest, in connection with a personal guarantee linked to a loan extended to one of his Dubai-based firms.

In a significant ruling delivered by the London Circuit Commercial Court, Justice Simon Tinkler held that Modi remained liable under the personal guarantee issued for a loan granted to Firestar Diamond FZE, a Dubai-incorporated company associated with him. The court rejected Modi’s challenge to the enforceability of the guarantee.

The court examined whether Modi had been properly served with a demand notice, whether the demand related to a liability owed to the bank, and whether the personal guarantee was legally enforceable. Justice Tinkler ruled in favour of Bank of India on all three issues.

According to the judgment, Modi is liable for the principal outstanding amount of $4.1 million. After adding accumulated interest, the total payable amount has risen to an estimated $11.5 million as of March 2026, with additional interest continuing to accrue.

The public sector lender has been pursuing recovery proceedings against Modi since 2018, following the emergence of allegations involving companies linked to the businessman. Modi, who has largely represented himself in the proceedings, is currently lodged in a UK prison while contesting his extradition to India in a separate Punjab National Bank fraud and money laundering case.

Law firm Fladgate LLP, representing Bank of India, clarified after the verdict that the proceedings were strictly related to a commercial banking recovery claim and did not deal with the wider allegations connected to the Punjab National Bank fraud case.

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