Israeli officials concerned about possible ICC arrest warrants as pressure mounts over war in Gaza
Jerusalem, Apr 29: Israeli officials appeared increasingly concerned that the International Criminal Court may issue arrest warrants against the country's leaders, as international pressure mounts over the war in Gaza. Airstrikes overnight into Monday killed 22 people in a southern city, according to hospital records.
The deaths in Rafah included six women and five children, one of whom was just 5 days old, according to the records and an Associated Press reporter. Israel is planning an invasion of the city — though its closest ally, the United States, and others have repeatedly warned against it, saying an offensive would spell catastrophe for the more than a million Palestinians sheltering there.
Meanwhile, Israeli officials have referred in recent days to an ICC probe launched three years ago into possible war crimes committed by Israel and Palestinian Hamas group going back to the 2014 Israel-Hamas war. The probe is also looking at Israel's construction of settlements in occupied territory the Palestinians want for a future state.
There was no comment from the court on Monday, and it has given no indication warrants in the case are imminent.
But Israel's Foreign Ministry said late Sunday that it had informed Israeli missions of “rumours” that warrants might be issued against senior political and military officials. Foreign Minister Israel Katz said any such warrants would “provide a morale boost” to Hamas and other groups.
Prime Minister Benjamin Netanyahu said Friday that Israel “will never accept any attempt by the ICC to undermine its inherent right of self-defence.”
“The threat to seize the soldiers and officials of the Middle East's only democracy and the world's only Jewish state is outrageous. We will not bow to it,” he posted on the social media platform X.
It was not clear what sparked the Israeli concerns. A series of Israeli announcements in recent days about allowing more humanitarian aid into Gaza appears to be aimed in part at heading off possible ICC action.
ICC prosecutor Karim Khan said during a visit to the region in December that the investigation is “moving forward at pace, with rigour, with determination and with an insistence that we act not on emotion but on solid evidence.”
Neither Israel nor the United States accept the ICC's jurisdiction, but any warrants could put Israeli officials at risk of arrest in other countries. They would also serve as a major rebuke of Israel's actions at a time when pro-Palestinian protests have spread across US college campuses.
The International Court of Justice, a separate body, is investigating whether Israel has committed acts of genocide in the ongoing war in Gaza, with any ruling expected to take years. Israel has rejected allegations of wrongdoing and accused both international courts of bias.
Israel has instead accused Hamas of genocide over its October 7 attack that triggered the war. Hamas stormed through army bases and farming communities across southern Israel, killing some 1,200 people, mostly civilians, and taking around 250 hostages.
In response, Israel launched a massive air, sea and ground offensive that has killed over 34,000 Palestinians, mostly women and children, according to Gaza's Health Ministry, which does not distinguish between civilians and combatants in its tally.
Israel blames the high civilian death toll on Hamas because the group fight in dense, residential areas. The military says it has killed over 12,000 group members, without providing evidence.
The war has driven around 80 per cent of Gaza's population of 2.3 million from their homes, caused vast destruction in several towns and cities, and pushed northern Gaza to the brink of famine.
Israel has vowed to expand its ground offensive to Rafah, where over 1 million Palestinians have sought shelter from fighting elsewhere. Israel says Rafah is the last Hamas stronghold, with thousands of fighters embedded there.
US President Joe Biden's administration, which has provided crucial military and political support for the offensive, has urged Israel not to invade Rafah over fears it could cause a humanitarian catastrophe — concerns he reiterated in a phone call with Netanyahu on Sunday.
The Biden administration faces a May 8 deadline to report to Congress on whether Israel is abiding by international law in its use of American military aid, including by allowing the entry of humanitarian assistance.
Secretary of State Antony Blinken is expected to visit Israel on his latest trip to the region that began in Saudi Arabia on Monday. He said Israel needs to do more to allow aid to enter Gaza, but that the best way to alleviate the humanitarian crisis is for the two sides to agree to a cease-fire.
The US, Egypt and Qatar are pushing Israel and Hamas to accept an agreement they drafted that would free some of the hostages and bring about at least a temporary truce. Hamas is still believed to be holding around 100 hostages and the remains of some 30 others after most of the rest were freed in exchange for the release of Palestinian prisoners last year.
Hamas has said it will not release the remaining hostages without an agreement to end the war. Netanyahu has rejected that demand, saying Israel will continue its offensive until Hamas is destroyed and all the hostages are returned.
At an event in the Saudi capital, Riyadh, Blinken called on Hamas to accept what he said was an “extraordinarily generous” offer from Israel. "In this moment, the only thing standing between the people of Gaza and cease-fire is Hamas,” he said.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Adani touts financial strength, shows can grow without external debt
New Delhi (PTI): Billionaire Gautam Adani's conglomerate on Monday touted its financial and credit details of its portfolio companies to investors, showcasing its robust profits and cash flows that can sustain growth without reliance on external debt.
The ports-to-energy conglomerate, which has been hit by an indictment in a US court against its founder chairman Gautam Adani and two other executives for allegedly bribing Indian official to secure solar power contracts, in a presentation to the investors highlighted its consistently expanding profits and cash flows, which over a period have led to lowering dependence on debt for its growth ambitions.
Equity now accounts for almost two third of its total asset creation, a stark contrast to five years ago. In the last six months, the group has invested close to Rs 75,227 crore, against a total debt increase of only Rs 16,882 crore.
A note was also shared with the investors, along with presentations.
Outlining the group's liquidity position, the note said, "Adani Portfolio companies have sufficient liquidity to cover all debt servicing requirements for at least 12 months. As of September 30, 2024, Adani Portfolio companies had a cash of Rs 53,024 crore, which was close to 21 per cent of its total gross debt outstanding".
This amount, it said, was sufficient to cover the next 28 months of debt servicing requirement.
GROWTH WITHOUT DEBT
In the past, the group has announced plans to invest over Rs 8 lakh crore (USD 100 billion) across portfolio companies in the next ten years.
The Fund Flows from Operations (FFO) or cash profits stood at Rs 58,908 crore for the last twelve months and is growing over 30 per cent for the past five years. On the basis of this, even after assuming no growth, the group will be able to invest Rs 5.9 lakh crore only from its internal cash accruals over the next ten years, leaving very little dependency on external debt.
Further, at the portfolio level, there is very low debt gearing of 2.46x -- which means it has massive headroom for debt, according to the presentation.
Other highlights from the presentation included EBITDA (earnings before interest tax and depreciation) for the last twelve months, which it said is highly stable and hence predictable due to its infrastructure projects, which grew by 17 per cent to Rs 83,440 crore.
Also, existing annual cash flows alone can pay the entire debt in 3 years.
Gross assets/investments increased by Rs 75,227 crore, against total debt increase of only Rs 16,882 crore. Asset base has now increased to Rs 5.5 lakh crore.
Average cost of borrowing at 8.2 per cent, lowest in the last 5 years, due to upgrade in ratings across group companies, it said.
Adani Group's long-term debt from domestic banks was Rs 94,400 crore. This stood against a cash balance of Rs 53,024 crore, most of which was parked with Indian banks.
Borrowings from global banks were 27 per cent of total debt.
