Hosting the conversation

Middle East Experience

Latest News

UAE attracted $20.7 billion in foreign direct investment in 2021: Economy minister

Foreign direct investment (FDI) into the United Arab Emirates rose to $20.7 billion in 2021, up 4 percent from 2020, the Minister of Economy told Sky News on Monday.For the latest headlines, follow our Google News channel online or via the app.According to the United Nations Conference on Trade and Development’s (UNCTAD) World Investment Report 2021, the value of FDI inflows to the UAE increased in 2020 as well, by $2.01 billion (AED 7.38 billion), accounting for an 11.24 percent growth.Last year’s report also found that the Guld country’s total FDI inflows amounted to around $19.8 billion (AED 73.04 billion), compared to $17.87 billion the year before.The UAE advanced nine ranks and became the 15th globally in 2020 and first in the Middle East and North Africa region, according to the Ministry of Economy’s website.With ReutersRead more:In pictures: World leaders, celebrities, public figures who visited Expo 2020 DubaiUS, Middle East allies show unity during meet in Israel amid Iran worriesTwitter, MBC expand partnership to include exclusive content
Source: Al Arabiya
Full Article: UAE attracted .7 billion in foreign direct investment in 2021: Economy minister

European Commission wants sanctioned Russians stripped of ‘golden passports’

The European Commission on Monday urged EU member states to explore ways to strip sanctioned Russians and Belarussians of EU nationalities that were acquired in highly controversial “golden passport” schemes.The legally tricky maneuver would punish sanctioned members of the Russian and Belarussian elite who had paid their way to EU nationality with vast investments in countries such as Cyprus, Malta and Bulgaria.For the latest headlines, follow our Google News channel online or via the app.We want EU governments to “determine whether citizenships that were previously granted to Russian and Belarussian nationals subject to sanctions should be withdrawn,” said EU commission spokesman Christian Wigand.Criteria for acquiring - or denying - nationality is a member state competence, but countries that have held the “golden passport” schemes had come under pressure even before Russia invaded Ukraine.Wigand said the commission, which is also in charge of drawing up EU sanctions, had no precise data on what sanctioned individuals were also holders of a bloc passport obtained through the schemes.The commission and other member states have long deplored the controversial practice, which is suspected of facilitating corruption and money laundering. Brussels launched disciplinary proceedings against Cyprus and Malta in 2020 over the matter.Malta last month said it would suspend granting the passports to Russians and Belarusians until further notice following the invasion of Ukraine and Bulgaria's new government has adopted a bill ending its own scheme.According to the European Parliament, at least 130,000 people obtained a “golden” passport or visa between 2011 and 2019, generating 21.8 billion euros ($24.1 billion) for the countries concerned.Read more:Turkey military finds mine close to border with BulgariaKremlin says Biden’s remark that Putin ‘cannot remain in power’ is alarmingAbu Dhabi sovereign fund Mubadala pausing Russia investments: CEO Khaldoon Mubarak
Source: Al Arabiya
Full Article: European Commission wants sanctioned Russians stripped of ‘golden passports’

Poland slams Russia ‘downright hostile country’ towards democratic world

A senior Polish diplomat hit back at Russia on Monday and said Moscow was the “only factor” escalating tensions in the region after Russia accused Warsaw of so-called Russophobia.Last week, Russia’s Foreign Ministry released a statement saying Poland was working to destroy bilateral ties after 45 Russian diplomats were kicked out of Poland for alleged espionage.For the latest headlines, follow our Google News channel online or via the app.“The immediate reason for the decision was the activities conducted by the staff of the Russian mission, which are contrary to the Polish law and contravene the norms of the Vienna Convention,” Poland’s Ambassador to Saudi Arabia, Jan Bury, said in a statement to Al Arabiya English.Russia and the West, specifically NATO member states, have clashed in recent weeks after Vladimir Putin ordered the invasion of neighboring Ukraine.Nearby countries, including Poland, have been on high alert over fears that violence could spill over.“Russia has been waging a barbaric war against Ukraine and treating Western countries as its key enemy,” Bury said. “To tolerate further the illegal activity of Russian services would pose a significant threat to Poland’s security and that of our allies in NATO and the EU.”As for the Russian diplomats kicked out of Poland, Bury said their “illegal activities” could have posed a threat to Ukrainian refugees fleeing their country.The United Nations has estimated that over two million refugees have arrived in Poland from Ukraine.Bury also responded to the Russian foreign ministry’s comments about the fate of bilateral ties between Moscow and Warsaw.“Current state of bilateral relations does not justify the need to maintain such large Russian diplomatic staff in Poland (neither is it reflected in the number of Polish personnel in Russia),” the ambassador said.“Russia is Poland’s neighbor and will not disappear from the map of Europe. However, the aggression against Ukraine proves beyond any doubt that Russia is not merely an unfriendly but a downright hostile country towards Poland and the whole democratic world,” Bury said.Read more: US sends Patriot missile defense systems to Poland: Pentagon
Source: Al Arabiya
Full Article: Poland slams Russia ‘downright hostile country’ towards democratic world

Afghanistan: Taliban’s backtrack on school re-opening for girls irreversibly impacts their future

Schoolgirls in Afghanistan told Amnesty International that the Taliban’s backtrack on reopening schools for girls has left them “shattered” and “traumatized”. On 23 March, female students of secondary schools were returning to classrooms for the first time in seven months. While many girls were waiting to start their lessons, at 9 a.m. the Taliban leadership ..
Source: Albawaba
Full Article: Afghanistan: Taliban’s backtrack on school re-opening for girls irreversibly impacts their future