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blumguldbrandsen21-blog · 6 years ago

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Downtown Dubai 5-Star Luxury Hotel

JW Marriott Marquis Hotel Dubai welcomes you to the heart of the city's bustling downtown district with modern luxury and award-winning service. Soaring high above Sheikh Zayed Road, our 5-star hotel is one of the tallest in the world and boasts awe-inspiring views of the water and the Dubai cityscape. Gracefully furnished rooms and suites provide a restful sanctuary, with deluxe bedding, complimentary Wi-Fi, sleek marble bathrooms and 24-hour room service. Elsewhere at the hotel, enjoy a swim in the heated outdoor pool or a refreshing workout in the fitness center before easing tired muscles with a massage at SARAY Spa. Sample the flavors of the world at our 10 different restaurants and lounges, which offer Japanese, Italian, Indian and Thai cuisine. For those planning an event in downtown Dubai, our hotel offers 80,000 square feet of adaptable space, including a striking ballroom and outdoor venues. Should you wish to explore, Dubai Mall, the Burj Khalifa and the Dubai Opera are all minutes away.

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Various events like Birthday parties and Marriage events are mostly managed by women. No doubt there will be some really hard work demanded by the job, but they gain maximum profits. We see women as mother, sister, wife and daughter. Especially when https://www.infoguideforyou.com/ become mother we don’t know where that much love comes from. This business of Child care and Pet care is dedicated to loveable woman. Women can manage multitasking very well as they have amazing power of work-life balance. They are more affectionate, so the business of Child/Pet Care can be a prospective business for them. Cooking skills are inherent in women as they cook for the whole family. Applying the managerial skills of marketing, and good knowledge of food, Restaurants is a good business one can run.

Those women having writing skills can start blogging as they are expert at it and it has a wide market (e-market). They can start blogging with any topic they want. The more visitors are there, the huge revenue one can generate from their blog. Zero investment and classy return. If you are having interest in writing, this is the perfect work to do. Contact someone who is already doing this work or search online, where to find work and what the whole process is. However, it takes some time searching clients in starting but after that it’s a piece of pie you just need to eat and enjoy. Fitness has been the crucial priority of this generation. Women can start Yoga and Zumba classes which are trending. The client base is huge, so collect as much as you can. The more facilities in your center larger is the amount of clients. It can be one of the best business ideas of women now a days.

Starting your own small business can very exciting and scary, but the risk is worth the reward. For women with children this can seem daunting because of all of the responsibilities of family and social stigmas of working mothers. Many women do not know where to start when thinking about their own home based business, which is why having 3 practical small business ideas for women, is necessary. Anything can be a business, but you shouldn't just do anything. You should do what matters to you, what you care about. The 3 small business ideas for women can be broken down into continuing your career, finding a new career, and how to discover how to start a business and business ideas using the internet.

You may have been thinking about getting back into your career, but you know you don't have the time to go to work while raising your small kids. Here is where small business ideas come into play, especially those geared towards women. The internet is a wonderful place where you can find all kinds of opportunities related to your career niche. It's important that you fully check out all of the available options you truly have. Career trailblazing. Some women want a new career, something fresh and exciting. A few may know what it is, but some do not. The great thing about the internet today is the amazing amount of information that is readily available. It's as easy as taking a few business ideas you have and researching them online. You can find all sorts of opportunities to start your own business, as well as find others who are doing the same thing. How to find what you need.

Airports aren't really known for their "fun" factor especially during holiday travel. As Matt and I prepare for the 14 hour trek home for Christmas I'm already mentally preparing myself for the minefield that is the holiday flight to JFK. However, it turns out there are a few ways to make people smile in airports: upgrade them to business class, a sale at duty free, tell them the plane will be arriving early, and a flash mob! Terminal 1 played host to an energetic group of Fly Dubai air hostesses, Duty Free staff, passerbyers, and a few crazy kids who joined forces to bring us our very own flash mob in the Dubai (DXB) Airport. If you are looking for some fun and to put a smile on your face I highly recommend the below five minutes! The other great observation is the mix of people not only participating but watching the mob. Heck, if this happened at Christmas I might be willing to miss my flight - who am I kidding I would have joined in!

It's always someone else's fault isn't it. How can we stand by and allow this to go on? They wrote the names of the dead children on their plastic shrouds. Israel claimed that missiles had been fired by Hizbollah gunmen from the south Lebanese town of Qana as if that justified this massacre. That culture has crept into adult public life, so now we have our politicians routinely refusing to take responsibility for their actions. This is just another example. Please also read Babykaos' beautifully written item 'Baby's Black Balloon'. Far too late Dr Rice. THE 19-day-old war in the Middle East has reached a turning point, with Israel's deadliest attack yet killing 54 people in southern Lebanon and the United States declaring it is time for a ceasefire.

Images of dead children - 37 children, police said - being dragged from the building in Qana, southern Lebanon provoked international condemnation and shattered the ceasefire talks. Prime Minister, Ehud Olmert, vowed the offensive in Lebanon would continue. In Singapore last week we had plenty of excellent food, fresh ingredients cooked in open kitchens where we could see it all. Of all the horrific photos coming out of Lebanon/Israel/Gaza this is the one that disturbed me the most. I draw no distinction between nationalities. Whether these schoolgirls were Israeli or Palestinian or anything else I would be appalled. To teach such hatred, such disregard for human life, to children is a despicable, disgusting, irresponsible, inhuman act.

These shells are going to kill or maim other people, quite possibly other children. Teaching children to gloat over that is a crime against humanity. I'm naive I know, but I believe that all countries and people have the right to defend themselves. However, in the current climate pre-emptive strikes and defending yourself is the right of a very small select club. Non-members are terrorists if they dare to even think about it. I hope all members in Haifa are safe. Well I hope that too, but Haifa only? No thought for Forum members from Lebanon. Not surprisingly, given the way the news is managed and presented in the Land Of The Free, the poster is American. No thought for the people in Lebanon so here are photos from today's Gulf News.

They're people too, just like the rest of us. Oh COME ON it's illegal! One day after promising to return them, the management of Skycom, a call centre in Dubai Internet City, is continuing to illegally hold its employees’ passports. In a meeting between the staff and the management on Saturday, the company agreed to return all the passports it was holding but employees told 7DAYS yesterday that Skycom has failed to do so. Rashad Akbar, global operations manager of Skycom, told 7DAYS yesterday that he would only return passports of workers who were leaving the company. “We will send them back and return their passports at the airport,” he said, refusing to comment on the rest of his employees.

I simply don't understand. Holding employees' passports is illegal under UAE law. Why is no action being taken against this company? And others who also routinely break the law? What is the point of passing laws if you're not going to enforce them. Each time I come into Dubai Airport I swear the hike from the aircraft to the taxi stand takes almost as long as the flight. Is there another airport with such huge distances to walk? Eventually I do come to the end of it all and then into the e-gate machine. What a great time-saving invention that is, full marks for that. On to the taxi stand and, for the second consecutive time, a female taxi driver.

Smart & clean in her uniform, polite, drove all the way down Sheikh Zayed Road to Dubai Marina below the speed limit and correctly using the indicators. I'll repeat that - below the speed limit and correctly using the indicators. A male taxi driver who overtook us seemed to find a female driver a novelty. He glanced into our cab as he screamed passed, dropped back then pulled alongside gabbling at his three European passengers while pointing at our driveress. Stayed alongside for about a kilometre, eventually got bored so did the big macho number and hit the accelerator hard. Singapore daytime was 31C and 'orribly 'umid - Dubai was the same at 3am. I actually found the humidity there much more oppressive, but I sure didn't miss the dust that swamped us as we drove through 'New Dubai'. I agree with Gulf News!

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newscheckz · 4 years ago

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African Development Bank joins the board of World Business Angels Investment Forum

New Post has been published on https://newscheckz.com/african-development-bank-joins-the-board-of-world-business-angels-investment-forum/

African Development Bank joins the board of World Business Angels Investment Forum

The Forum engages with a wide range of institutions to help shape the global agenda

The World Business Angels Investment Forum today announced the African Development Bank as its newest Board Member.

In this capacity the Bank will represent Africa’s early-stage equity markets, entrepreneurship and startup ecosystems, small and medium enterprises and high-growth businesses, angel investors, and private equity funds.

Abdu Mukhtar, the Bank’s Director of Industrial and Trade Development, will occupy the Bank’s Board seat.

“We are delighted to have the African Development Bank Group as a global board member of the World Business Angels Investment Forum,” said Baybars Altuntas, WBAF’s Executive Chairman.

I am confident that by including AfDB, WBAF will be able to provide a wide range of opportunities for start-ups, scaleups and high growth businesses in Africa—ones that will open the doors for economic development.

By working together across borders, with a common vision, and with these smart dynamics in mind, we are well placed to bring about positive change in the Africa and global economy.”

WBAF promotes access to finance for businesses from start-up to scale-up, with the goal of generating more jobs and social justice worldwide. The Forum engages with a wide range of institutions to help shape the global agenda.

The African Development Bank is Africa’s preeminent Development Finance institution, and the only one with a Triple A credit rating.

The Bank fights poverty and works to improve living conditions on the continent by promoting public and private capital investment in projects with the potential to drive regional economic and social development.

The Bank has 81 shareholders: fifty-four regional member countries and 27 non-African countries. As of November 2019, the bank had a capital base of $208 billion.

‘I am excited about joining the WBAF Board and am quite impressed by its vision. Support for innovation, entrepreneurship and SME development is very important to us, especially since these areas are directly linked to some of our development objectives, including job creation and women empowerment, said Director Mukhtar. I look forward to working with the experts on the WBAF Board to advance these objectives. I am sure WBAF and AfDB will create a great impact in the startup, angel investment and SME markets of Africa. The ultimate goal is to produce more jobs and social justice in Africa.”

WBAF is a partner of the G20 Global Partnership for Financial Inclusion (GPFI), a platform for G20 members, interested non-G20 countries, and relevant stakeholders to advance financial inclusion, and implement the G20 Financial Inclusion Action Plan.

Other board members include Abdulaziz N. Al-Khalifa, Chief Executive Officer of Qatar Development Bank; Dr. Abdul Malek Al Jaber, President, Middle East Business Angels Network (MBAN) ; Dr. Hashim S. Hussein, Head of the United Nations Industrial Development Organization, Investment & Technology Promotion Office (UNIDO-ITPO) and Prof Dr Inderjit Singh, Co-president, World Entrepreneurship Forum (WENF).

“I welcome Dr Abdu Mukhtar to the Board, and I look forward to working with him in our mutual efforts to ease access to smart finance to create more jobs and more social justice worldwide. I believe AfDB’s efforts to convert the world and Africa economy to a smart economy in cooperation with the World Business Angels Investment Forum will be very productive,” said Altuntas.

He added, “WBAF is committed to collaborating globally to empower the economic development of the world by fostering innovative financial instruments for startups, scaleups, innovators, entrepreneurs and SMEs and to promoting gender equality and women’s participation in all sectors of the world economy.”

#African Development Bank #world business angels investment forum

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newyorkprelawland-blog · 5 years ago

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Soccer, Intellectual Property, And Geopolitics

By Dylan Ollivier, Columbia University Class of 2022

July 23, 2020

Another day in the northeastern English town of Newcastle is another anxious day for fervent supporters of local club Newcastle United.Soccer is the hope of the city, but in this rainy town, despair has been the name of the game for15 years. The historic club and ex-European soccer powerhouse has been mediocre at best, pathetically sinking to the depths of the English Premier League (the English national soccer league).

This could all change. A consortium led by the Saudi Public Investment Fund (PIF), the national Saudi wealth fund, submitted a $300 million offer to the Premier League to acquire the club, promising to bring back glory to the Northeast of England. [10]

Set to bring more money, more competition, more fans, the Saudi foreign investment is delighting news to the Premier League which must first approve the buyout, a process that usually takes less than a month.[10]

But the approval process,which has put into question British and international law, is soon to begin its fourth month.

The main roadblock:The World Trade Organization. For the past year and a half, this respected international governing body has been investigating a case of intellectual property theft against Saudi Arabia, the prospective owners of the club; the WTO has been looking into the Saudi government’s role in a pirating scheme that saw the illegal redistribution of dozens of sports leagues,including the Premier League, by pirating company beoutQ to millions of households in the Middle East and in North Africa.[1]

The Premier League is not the only loser in this scheme; beoutQ specifically targeted Qatari media company beIN Media. BeIN Media group owns the TV rights of many European soccer leagues in dozens of countries across the globe. In fact, the Qatar-based corporation is the Premier League’s largest overseas broadcast partner with a deal worth $617 million, twice as much as PIF’s offer for Newcastle. [2]

When beoutQ pirated and rediffused beIN content to millions of people who did not pay a dime for the service, beIN and the Premier League lost millions of dollars of rightful profits. Naturally, the two sought to press charges. Cases of intellectual property theft are normally adjudicated in the domestic country where the unlawful action is occurring. But when they sought to press charges in Saudi courts, Saudi Arabia denied the proceedings… nine different times.[1]

Since legal action in the host country proved to be unfeasible, the case had to be brought to the World Trade Organization. But as an intergovernmental organization, the WTO can only settle disputes between governments, not corporations. [1] Enters Saudi Arabia’s tiny neighbor: Qatar.BeIN Media Group has intimate ties with the Qatari government; its chairman Nasser al-Khelaifi is a close friend of the royal al-Thani family. Moreover, beIN Media Group is a subsidiary of Al Jazeera Network, a Qatari state-owned media group.[12]

BeIN Media Group, though only 6 years old, has already spread its operations to 43 countries.[12] Two years before launching BeIN Media Group, the Qatari ownership bought out relatively anonymous Paris-based club Paris Saint-Germain, splashed unprecedented amounts of money and turned the club into the most controversial powerhouse of European soccer. These days, omnipresent names in soccer like Neymar, Ibrahimović, and Mbappe are tightly linked with Qatar. The country’s rising influence in the soccer world granted it a successful bid to organize the largest and most high-profile sports competition in the world, the 2022 World Cup.With its brand new mediatic and sports influence,Qatar has never been so important in the world.

But that is all new. A neighbor of Saudi Arabia, since its 1971 independence Qatar has existed in the shadow of its bigger brother.Saudi Arabia, thanks to its prominent rivalry with Iran and its partnership with the United States,wrote the greater part of late 20th century Middle East history. Meanwhile, Qatar, a Saudi vassal state, sat on the sidelines and provided moral supportto its bigger brother. [13]

But when Hamad bin Khalifa rose to the Qatari thrown in 1995, he adjudged that Qatar had become wealthy enough from oil money to move away from Saudi heterogeneity.[11] While Qatar had previously unconditionally supported Saudi military intervention,backing Saudi troops in the 1991 Gulf War, the small country began looking to other bigger international partners; to the dismay of Saudi Arabia,Qatar cooperated militarily with the United States in the Iraq war in 2003, and has since let its Al-Udeid base be a centerfor US military operations.[5] [7] Qatar also improved its relations with Saudi’s bitter rival Iran.[13]

Qatari scheming was all a headache for Saudi Arabia and other gulf countries. Through attempted coups and other illegal schemes, Saudi Arabia vainly tried to overturn Qatari belligerence for the first decade of the 21st century. [8]

But the headache turned into a migraine when the Arab Spring began sweeping through the Middle East and Northern Africa region in late 2010.From Libya to Bahrain, oppressive authoritarian regimes that had been in power for decades were overthrown. A demand for freedom was ragefully pressing.With its neighboring repressive friends violently overthrown, the Saudi monarchic regime,one of the most repressive regimes in the world,was under imminent threat.

Meanwhile,Qatar was militarily and financially supporting insurgency throughout the region, facilitating respite in Libya and Syria among many other countries. Qatari media company Al Jazeera provided crucial reporting that gave unprecedented information flow in the region and facilitated protests in a way never seen before. [9]Qatar increased its influence in the region, continuing its plan to expand its role in global affairs, and simultaneously threatening Saudi security.

The Saudi regime survived. But the previously close Saudi-Qatari relationship turned into a bitter rivalry.Both countries vied for their own power and influence in the world and in the region.In 2017, Saudi Arabia led a coalition of gulf and African states to break diplomatic contact with and begin an economic blockade of Qatar, in an attempt to suffocate the tiny country.[6] Saudi Arabia and Qatar may not be at war, but only the weapons are missing.

As Qatar continues to try to forge its own path, to rise out of the Saudi shadow, sports have become central to its growing political and economic power. Its access to European soccer and influential celebrities thanks to PSG, its thrusting into the spotlight thanks to its organization of the World Cup and its mediatic influence in dozens of countries thanks to be IN has created crucial economicand culturalties with the rest of the world.Qatar’s strategy to gain global influence and to become a region a land even global power has worked.

Responding to Qatar’s rise in global influence, Saudi Arabia has begun mounting a new strategy to vie for influence. Its Vision 2030 is an extravagantly ambitious project to shift the Saudi economy away from oil into sports and tourism (which is currently in existent in the country), and to drive foreign investment into a country that has seen little due to its authoritarian nature. [3] The Newcastle buyout is at the heart of it; the oil giant would get access to the Premier League audience of 4.7 billion people: the largest sports audience in the world.[4]

But back at the headquarters of the WTO, after a year and a half of investigation, the intergovernmental organization finally gave its verdict on June 16, 2020. The ruling favored Qatar and berated Saudi Arabia.The WTO found unfaltering evidence that the Saudi government belligerently masterminded beoutQ piracy. Moreover, the ruling also established that Saudi Arabia was in violation of international law by violating the Trade-related Aspects of Intellectual Property Rights Agreement for refusing to take criminal action against beoutQ on Saudi territory.[1]

Saudi theft of intellectual property is a pernicious attempt to fight Qatar’s rising influence.Now that the oil giant has been reprimanded by international law,Saudi Arabia’s image worldwide is set to take a hit. With Saudi and Qatari interests more than ever at odds, the Premier League may have to pick between two oil giants. At the same time, it may be unable to; a denial of the Saudi buyout may be considered discriminatory under British law. [10]

But whether the Newcastle deal falls through, tensions will rise.A buyout of Newcastle United is Saudi Arabia trying to beat Qatar at its own game, to fight a war with its neighbor on a rainy Thursday night in Newcastle rather than on its desert Middle East border.English soccer is set to change. Middle East politics will too. The WTO ruling is at the heart of it.

________________________________________________________________

[1] https://www.aljazeera.com/news/2020/06/wto-verdict-summary-saudi-piracy-operation-beoutq-200616102827192.html

[2] https://www.middleeastmonitor.com/20200608-saudi-takeover-of-newcastle-united-hinges-on-lifting-blockade-on-qatar/

[3] https://www.nsenergybusiness.com/features/saudi-aramco-vision-2030/

[4] https://www.nsenergybusiness.com/features/saudi-arabia-newcastle-united-oil-future/

[5] https://www.state.gov/u-s-relations-with-qatar/

[6] https://www.aljazeera.com/indepth/features/2017/06/qatar-gulf-crisis-questions-answered-170606103033599.html

[7] https://www.theguardian.com/world/2002/mar/27/iraq.julianborger

[8] https://www.aljazeera.com/news/2018/03/al-jazeera-reveals-details-1996-coup-attempt-qatar-180304200532130.html

[9] https://www.reuters.com/article/us-qatar-jazeera-media/defiant-al-jazeera-faces-conservative-backlash-after-arab-spring-idUSKBN0F70F120140702

[10] https://www.espn.com/soccer/blog-marcottis-musings/story/4125992/newcastle-united-sale-to-saudi-arabia-led-consortium-why-the-stakes-are-so-high

[11] https://www.independent.co.uk/news/world/middle-east/emir-of-qatar-profile-who-is-sheikh-hamad-bin-khalifa-al-thani-how-did-he-turn-qatar-into-the-world-8672997.html

[12] https://www.beinmediagroup.com/the-group/

[13] https://www.nytimes.com/2017/06/13/world/middleeast/how-the-saudi-qatar-rivalry-now-combusting-reshaped-the-middle-east.html

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dailykhaleej · 5 years ago

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UAE to become first country in region to manufacture and export its own N95 masks

N95 masks manufacturing line in Al Ain Picture Credit score: Equipped

Abu Dhabi: In response to the COVID-19 pandemic, Mubadala Funding Firm, the Abu Dhabi-based sovereign investor, on Tuesday introduced a strategic collaboration between its wholly owned subsidiary, Strata Manufacturing, and Honeywell, to produce N95 masks at Strata’s Al Ain facility.

The brand new N95 masks manufacturing line, which has began operations, would be the first of its sort in the GCC region, and could have an annual output capability of over 30 million masks. The collaboration between Strata and Honeywell goals to tackle the necessity for Private Protecting Gear (PPE), one of the vital important challenges at present going through governments and organizations globally as they work to restrict the unfold of COVID-19.

N95 masks are respiratory protecting gadgets that play an necessary function in filtering out airborne particles. The UAE at present imports all N95 respirators from overseas, with the brand new manufacturing line additionally set to remodel the UAE into an exporter of the PPE product whereas additionally addressing its nationwide necessities.

N95 masks manufacturing will get underway in Al Ain. UAE will become first country in region to produce and export the masks Picture Credit score: Equipped

“As a responsible investor, we have been working across our global portfolio with local and international organisations to collectively respond to the COVID-19 crisis,” mentioned Khaldoon Khalifa Al Mubarak, group chief government officer and managing director of Mubadala.

“By collaborating with our longstanding and valued partner, Honeywell, we will be able to deliver critical support to frontline healthcare workers and members of the wider community,” he added.

“This new manufacturing capability will help address the critical demand for N95 respirators, and bolster the resilience of UAE’s PPE supply chains,” Al Mubarak mentioned.

Mubadala’s collaboration with Honeywell is a part of its #WeAreDedicated marketing campaign – the corporate’s group-wide response to the COVID-19 pandemic and its efforts to coordinate initiatives throughout its enterprise platforms and property to help communities regionally and internationally.

“As a global leader in advanced worker safety technologies, Honeywell is committed to ensuring that PPE products are being placed quickly and cost-effectively in the hands of those most in need, including medical professionals and those on the front lines of the fight against the spread of COVID-19,” mentioned Darius Adamczyk, chairman and CEO of Honeywell, commenting on the brand new partnership.

“Mubadala has world-class manufacturing capabilities through its Strata subsidiary, and we are proud to extend the long standing, valued partnership between our companies to bring high quality respiratory manufacturing to the Middle East,” he added.

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sportsleague365 · 5 years ago

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It appears it won’t be long before Newcastle United have some new owners. And they will be rich ones. Mike Ashley, Sports Direct retail king, has endured a fractured relationship with the club’s fanbase. Mike Ashley’s controversial 13-year tenure at Newcastle looks all-but overGetty Images - GettyMany supporters were rejoicing at the news of a potential takeover with Jim White revealing on talkSPORT the £300million deal was done and just waiting on Premier League approval. PCP Capital Partners, headed by Amanda Staveley, have brokered the deal which is being backed by Saudi Arabia royal family’s Public Investment Fund (PIF). The group is led by Crown Prince Mohammed bin Salman and the PIF are believed to have assets of more than £260billion. The Premier League has many billionaire owners, Mike Ashley himself is a billionaire, but the deal will make Newcastle one of the richest clubs in the world. Here is where the club will rank in terms of current owners of top flight clubs in England. Amanda Staveley is set to complete a £300million takeover of NewcastleGetty20. NORWICH – DELIA SMITH AND MICHAEL WYNN-JONES (£23M) The pair are joint majority shareholders in the Canaries and purchased the club in 1996. Delia Smith made her name as a cookery writer, author and television personality while Michael Wynn-Jones came from the publishing industry. Michael Wynn Jones and wife Delia Smith celebrate Norwich’s play-off success in May 201519. BURNLEY – MIKE GARLICK (£62M) Garlick became sole chairman of the club in 2015 when co-chairman John Banaszkiewicz stepped down. He is the found and CEO of Michael Bailey Associates, a project management and consultancy company. Mike Garlick became sole chairman of Burnley in 2015Getty Images - Getty18. WATFORD – GINO POZZO (£93M) The Pozzo family bought the club from Laurence Bassini in 2012 with Gino having full ownership and control. He is the son of Italian businessman Giampaolo Pozzo who made his money through the family business, tool-maker Freud. Watford are owned by Gino PozzoGetty Images - Getty17. SHEFFIELD UNITED – PRINCE ABDULLAH BIN MUSA’ED (£198M) Prince Abdullah is another Saudi Arabian but with nowhere near the wealth of the new Newcastle owners. He won a High Court battle with Kevin McCabe over the ownership of the Blades. McCabe had to sell his stake to Price Abdullah for £5m following a ruling last year. He is the son of Prince Musa’id bin Abdulaziz Al Said and set up a paper manufacturing company in 1989. Prince Abdullah has a 100 per cent stake in Sheffield Unitedgetty16. BOURNEMOUTH – MAXIM DEMIN (£900M) The Russian businessman became a co-owner of the club in 2011 when the club was in League One. He assumed full ownership of the club in 2013. He owns at least two companies in the UK, Wintel – a petrochemical company – and Wintel Holdings Ltd. Other than that his business background remains a mystery. Bournemouth owner Maxim Demin with Jamie Redknapp.15. WEST HAM – DAVID SULLIVAN AND DAVID GOLD (£1.2BN) Sullivan made his fortune in the pornography industry and he previously owned the Daily Sport and Sunday Sport. Gold owns Gold Group International, the parent company of Ann Summers and he previously co-owned adult magazine company Gold Star Publications with his brother. Gold and Sullivan acquired a 50 per cent share inWest Hamin January 2010 and then purchased a further 10 per cent a few months later. David Gold and David Sullivan on the day they took charge of West HamGetty Images - Getty14. BRIGHTON – TONY BLOOM (£1.3BN) Bloom became chairman of the Seagulls in 2009 and in that time he has overseen their rise from League One to the Premier League. He is thought to have acquired most of his wealth from online gambling and gaming websites. Bloom also finished fourth at the World Series of Poker in 2005. Tony Bloom became Brighton chairman in 2009AFP or licensors13. EVERTON – FARHAD MOSHIRI (£1.5BN) Moshiri was previously involved at Arsenal but sold his stake in the club to complete a takeover of Everton, which was officially confirmed in February 2016. He owns and has shares in multiple steel and energy companies in the UK and Russia. Farhad Moshiri has owned Everton for four years12. LIVERPOOL – JOHN HENRY (£2.1BN) Henry’s company Fenway Sports Group bought Liverpool in 2010 and he also owns the Boston Red Sox. The American founded John W. Henry & Company, an investment management company. John Henry also owns the Boston Red SoxAFP or licensors11. CRYSTAL PALACE – JOSHUA HARRIS (£2.7BN) Harris owns an 18 per cent stake in Palace as well as being the principal shareholder of the NHL team the New Jersey Devils and NBA team the Philadelphia 76ers. He co-founded Apollo Global Management, one of the world’s largest investment firms. Josh Harris and David Blitzer both have stakes in Crystal PalaceGetty10. SOUTHAMPTON – GAO JISHENG (£3.1BN) Jisheng became the Saints’ majority owner in 2017 when he completed a £210m deal. He was the founder of Lander Sports Development until last year when he sold enough shares to lose control of the real-estate company. Gao Jisheng bought an 80 per cent stake in Southampton at the start of the 2017-18 seasonGetty9. MANCHESTER UNITED – THE GLAZERS (£3.6BN) Malcolm Glazer gradually bought shares of the club between 2003 and 2005 to complete his takeover. He made his fortune in property, banking and healthcare before his death in 2014. His sons, Avram and Joel, have since stepped up as co-chairmen. Malcolm Glazer bought up shares in Man United between 2003 and 2005AFP8. TOTTENHAM – JOE LEWIS (£3.9BN) English National Investment Company, which Lewis owns 70.6 per cent, bought a controlling stake in Tottenham in 2001 from Alan Sugar. He is the main investor in Tavistock Group, which owns more than 200 companies ranging from sports teams, energy companies, restaurants and luxury properties. Joe Lewis has been involved with Tottenham since 2001Corbis - Getty7. LEICESTER – AIYAWATT SRIVADDHANAPRABHA (£4.6BN) The 34-year-old, known as Top, became CEO and chairman of King Power and the chairman of Leicester when his father died in a helicopter crash outside the club’s stadium in 2018. Jamie Vardy comforts Aiyawatt Srivaddhanaprabha as they pay their respects at the sea of tributes to the victims of the crash at Leicester CityGetty Images - Getty6. ASTON VILLA – NASSEF SAWIRIS (£5BN) Sawiris replaced Tony Xia as Villa owner in July 2018 when he bought a 55 per cent controlling stake in the club. He is from one of Egypt’s wealthiest families and owns numerous construction, engineering and building companies. Aston Villa owners Wes Edens (L) and Nassef Sawiris helped the club return to the Premier League@JimWhite on Twitter5. WOLVES – GUO GUANGCHANG (£5.2BN) Guangchang completed his takeover of the club in 2016 and has made a serious investment in the team. He is chairman of the Fosun Group and has invested in insurance, pharmaceuticals, healthcare, property, steel, mining, retail, services and finance. Guo Guangchang has heavily invested in WolvesRex Features4. ARSENAL – STAN KROENKE (£6.8BN) Kroenke married Walmart heiress Ann Walton in 1974 and later founded Kroenke Group in 1983, which is a property development firm. He first became involved in Arsenal in 2007 before assuming majority control in 2011. Kroenke also owns the LA Rams NFL team, which he relocated from St Louis in 2016. Stan Kroenke also owns the NFL team the Los Angeles RamsAFP - Getty3. CHELSEA – ROMAN ABRAMOVICH (£9.6BN) Abramovich purchased Chelsea for £140m in 2003 and oversaw a huge investment in the squad that has brought great success to the club. He sold his stake in the Russian gas company Gazprom in 2005 and owns stakes in steel and nickel companies among his other business ventures. Roman Abramovich bought Chelsea in 2003Getty2. MAN CITY – SHEIKH MANSOUR (£23.3BN) Mansour is the deputy prime minister of the United Arab Emirates and half brother of current UAE president Khalifa bin Zayed Al Nayhan. He is chairman of International Petroleum Investment Company and also has a stake in Virgin Galactic. He also owns the Abu Dhabi Media Investment Corporation. Mansour completed a takeover of the club in 2008 and has poured huge investment into the club. Since he became the Man City owner they have won four Premier League titles. Sheikh Mansour bought Manchester City in 2008Getty1. NEWCASTLE – SAUDI ARABIA PUBLIC INVESTMENT FUND (£260BILLION) They are headed by Crown Prince Mohammed bin Salman who is currently serving as Saudi Arabia’s deputy prime minister with his family’s wealth thought to be worth more than £1.3trillion. The Public Investment Fund (PIF) of Saudi Arabia are the group who want to take an 80 per cent stake in the club from Mike Ashley. The PIF group are thought to have assets worth around £260billion. The Crown Prince is thought to have personal assets in the region of £7billion. Mohammed bin Salman could be Newcastle’s next ownerGetty Images - Getty #PremierLeague #NewcastleUnited #AstonVilla

#PremierLeague #NewcastleUnited #AstonVilla

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khamada2 · 5 years ago

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#Repost @kia_information with @get_repost ・・・ HE Ms. Mariam A Al Aqeel; the Minister of Finance, Acting Minister for Economy, and the Chairman of the Kuwait Investment Authority; hosted a delegation from BlackRock which included Mr. Lawrence Fink, Chairman and CEO; and Mr. Thomas Donilon, Chairman of BlackRock Investment Institute and former National Security Adviser to US President Barack Obama. In addition to HE The Minister of Finance, the other attendees were: HE Abdulatif Al Hamad; HE Hilal Al Mutairi; HE Khalifa Al Hammada; Mr. Farouk A Bastaki, the Managing Director of KIA; Mr. Bader M Al Saad; Mr. Ahmed Al Sagar; and Mr. Meshal Al Othman, Director General of PIFSS. Some of the senior KIA executives who also attended were Mr. Ahmed Al Tahous; Ms. Aliah Al Tameemi; Mr. Mr. Marwan Al Saleh; and Ms. Dalal I Mohammed. BlackRock is the largest asset manager in the world with AUM in excess of USD 7.4 trillion. The KIA is the oldest Sovereign Wealth Fund and is in the top three SWFs in AUM. (at Kuwait City) https://www.instagram.com/p/B8fqQQth6UK/?igshid=1oovkvq383bzt

#repost

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newscheckz · 4 years ago

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African Development Bank joins the board of World Business Angels Investment Forum

New Post has been published on https://newscheckz.com/african-development-bank-joins-the-board-of-world-business-angels-investment-forum/

African Development Bank joins the board of World Business Angels Investment Forum

The Forum engages with a wide range of institutions to help shape the global agenda

The World Business Angels Investment Forum today announced the African Development Bank as its newest Board Member.

Abdu Mukhtar, the Bank’s Director of Industrial and Trade Development, will occupy the Bank’s Board seat.

“We are delighted to have the African Development Bank Group as a global board member of the World Business Angels Investment Forum,” said Baybars Altuntas, WBAF’s Executive Chairman.

By working together across borders, with a common vision, and with these smart dynamics in mind, we are well placed to bring about positive change in the Africa and global economy.”

The African Development Bank is Africa’s preeminent Development Finance institution, and the only one with a Triple A credit rating.

The Bank has 81 shareholders: fifty-four regional member countries and 27 non-African countries. As of November 2019, the bank had a capital base of $208 billion.

#African Development Bank #world business angels investment forum

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political-affairs · 12 years ago

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Hamad bin Khalifa Al Thani

Хамад бин Халифа ат-Тани

Hamad bin Khalifa Al Thani (Arabic: الشيخ حمد بن خليفة آل ثاني‎, born 1 January 1952) has been the ruling Emir of the State of Qatar since 1995.[1][2] Sheikh Hamad was the appointed Heir Apparent of Qatar between 1977 and 1995 and at the same time Minister of Defense.[3] In the early 1980s he led the Supreme Planning Council, which sets the Qatar's basic economic and social policies. Starting in 1992, Hamad had a growing responsibility for the day-to-day running of the country,[4] including the development of Qatar's oil and natural gas resources. On 27 June 1995, after deposing his father in a palace coup, Sheikh Hamad became Emir of Qatar and was crowned on 20 June 2000.[4] The Emir is famous for helping to establish the first Arab international news network, Al Jazeera, when he provided a loan of QAR 500 million ($137 million) to sustain Al Jazeera through its first five years. In late 2012 and early 2013 the Emir was accused of providing financial and material support to terrorist organizations such as Hamas,[5] Ansar Dine,[6] and the Al-Nusra Front.[7]

Early life

Sheikh Hamad began his education in Qatar and later attended Sandhurst Military Academy in England. Upon his graduation in 1971, he was commissioned as a Lieutenant Colonel in the Qatari armed forces and commanded the 1st Mobile Battalion, which has since been designated the "Hamad Mobile Battalion" in his honor.[citation needed]

Hamad was later promoted to the rank of Major General and appointed Commander in Chief of the Qatari Armed Forces. He oversaw an extensive program to modernize Qatar's military, increasing manpower, creating new units, updating weaponry, and improving training.[citation needed]

As Emir

In the early 1980s, Hamad led the Supreme Planning Council, which sets the Qatar's basic economic and social policies. Starting in 1992, Hamad's father handed over responsibility for the day-to-day running of the country,[4] including the development of Qatar's oil and natural gas resources. With the support of his family, Sheikh Hamad took control of the country in 1995 while his father was on vacation abroad.[4] While his father Khalifa bin Hamad Al Thani was in Geneva, Switzerland, Hamad bin Khalifa deposed him in a bloodless 1995 coup d'état.[8] Hamad bin Khalifa engaged an American law firm to freeze his father's bank accounts abroad, thereby defeating a possible countercoup.[4] Thereafter, his father lived in exile in France and Abu Dhabi[8] until he returned to Qatar in 2004.

The Emir is considered to be progressive among leaders of Muslim countries.[citation needed] In a break with the traditional role, his second wife Sheikha Mozah bint Nasser Al Missned has been a visible advocate for education and children's causes.[4]

A sportsman[9] and an accomplished diver, Hamad has played an active role in promoting and developing athletics in Qatar. His activism has enhanced the country's involvement and performance in a number of international competitions, including: winning an Olympic medal in track and field; hosting a wide variety of international sporting events such as the 15th Asian Games, GCC, Asian and World Youth soccer championships; and initiating the Qatar Open Tennis Championship which has grown to become one of two premier tennis competitions in the Middle East.

Under his rule the Qatari government helped to fund the Al Jazeera news network, funding it by an emiri decree.[10] In an analysis of Al Jazeera, Hugh Miles claimed that diplomats from other countries know that the Emir is the real power behind Al Jazeera but he also quotes a network spokesman denying 'countless times' this accusation, adding that many independent news sources also have subsidies from their respective governments without this implying editorial dabbling and explaining that trying to coerce the kind of journalists Al Jazeera has would be like trying to 'herd cats'.[11] Sheik Hamad is a distant cousin of the network chairman, Hamad bin Thamer Al Thani, who was previously Minister of Information in the Emir Al-Thani government. Following the initial US$137 million grant from Emir Al-Thani, Al Jazeera had aimed to become self-sufficient through advertising by 2001, but when this failed to occur, the Emir agreed to several consecutive loans[11] on a year-by-year basis (US$30 million in 2004,[12] according to Arnaud de Borchgrave). At an 3 October 2001 press conference, Colin Powell tried to persuade Sheik Hamad to shut down Al Jazeera while The New York based organization Fairness and Accuracy in Reporting commented that in those efforts, "Powell and other U.S. officials were reportedly upset by the channel re-airing old interviews with bin Laden and the inclusion of guests that are too critical of the United States on its programs."[13][14] The Washington Post reported in 2005 that Sheik Hamad was under pressure to privatize the network.[15]

Foreign relations

The emir made a $100 million donation for the relief of New Orleans following the 2005 Hurricane Katrina.[16]

In 2012, the emir proposed deploying Arab troops to reduce killings in the Syrian civil war.[17]

He has provided two military bases for foreign troops, Al Udeid Air Base and Camp As Sayliyah.

Despite the prevalence of anti-Israel sentiment within the Arab world, he had previously maintained friendly relations with Israel.[8] He met Foreign Minister of Israel Tzipi Livni (25 September 2007) in New York. This marked the first real attempt by any leader in the Persian Gulf to pursue dialogue with Israel.[18][19] However, Qatar severed diplomatic ties with Israel in 2009 in response to Israel's actions during the Gaza War.[20] The emir has also expressed his objection to Israeli settlement policy, especially the Judaization of Jerusalem.[21]

Visit to Gaza

In October 2012, the emir made a landmark visit to Gaza by being the first head of state to go there since the 2006 election of Hamas and the imposition of a blockade by Israel.[22] He took a flight to Egypt before being driven into Gaza. When there, the emir was thought to be launching a $254 million reconstruction project in the territory, and giving an address to the Palestinian people. Palestine's interior ministry was said to have a "well-prepared plan" to provide security for the emir during his stay.[23] Incidents nevertheless continued.[24]

Criticism and Allegations of Support to Terrorist Organizations

In December, 2012 the New York Times accused the Qatari regime of funding the Al-Nusra Front, a U.S. government designated terrorist organization.[7] Others have noted the emir's visit to Gaza and meeting with Hamas, another internationally designated terrorist organization.[5] In January, 2013 French politicians again accused the Emir's regime of giving material support to Islamist groups in Mali and the French newspaper Le Canard enchaîné quoted an unnamed source in French military intelligence saying that “The MNLA [secular Tuareg separatists], al Qaeda-linked Ansar Dine and MUJAO [movement for unity and Jihad in West Africa] have all received cash from Doha.”[6]

#Sheikh Hamad #Qatar #List of emirs of Qatar #Khalifa bin Hamad Al Thani #Geneva #Emir #Al Jazeera #Abu Dhabi

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dailykhaleej · 5 years ago

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Video: See Dubai’s new upgraded bus stops

The new bus cease Picture Credit score: Twitter/RTA

Dubai: Are you somebody who likes to make use of public transport in Dubai? Nicely, you’re in for an improve. Roads and Transport Authority has introduced a new sort of bus shelter that takes into consideration variables resembling social distancing. The design, endorsed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, is the primary batch of a deliberate 1,550 shelters that may dot the emirate over the subsequent 3-Four years.

Mattar Al Tayer, Director-Common and Chairman of the Board of Government Administrators of RTA, instructed Dubai Media Workplace: “The project is being undertaken in partnership with the private sector through Build–Operate–Transfer (BOT) Model. The investor shall cater to the funding of construction and operation of shelters, and share the proceeds of advertisements with RTA under a 12-year contract. Through this project, RTA avails the private sector a long-term investment opportunity and the chance to develop smart and innovative services to users. It also diversifies RTA’s revenues and serves key objectives of Public-Private Partnership (PPP). RTA received six proposals from local and international investors, and four firms passed the technical and financial assessment.”

Why the new design?

“The new design of bus shelters is part of a package of vital projects endorsed by His Highness Sheikh Mohammed bin Rashid Al Maktoum that bolster the image of Dubai as a perfect city for stable and safe living. The initiative is coherent with the vision of our leaders that calls for adopting the PPP model as a pivotal tool for stimulating the growth and development of Dubai,” stated Al Tayer.

What number of new bus shelters are there?

There are 4 bus shelters:

1. A principal bus cease close to Satwa Roundabout (2nd of December Avenue), which is utilized by 750 riders per day.

2. On the Burj Khalifa Boulevard (close to the Boulevard Stroll); which is utilized by 250-750 riders per day.

3. Key cease at Al Mustaqbal Avenue (close to Park Towers), which is utilized by 100 to 250 riders per day.

4. Cease on Al Mustaqbal Avenue behind Emirates Towers, which is utilized by 100 riders on daily basis.

What facilities can be out there on the stops?

Part of shelters in the primary stops can be air-conditioned, components shaded. Shelters may even have data screens displaying bus community, timetable, service frequency and different data wanted by bus riders. There are additionally areas for parking bikes in addition to ticket merchandising machines.

There are additionally particular areas allotted for individuals on wheelchairs and tracks for visually challenged people.

“It consolidates “My Community … A City for Everyone” initiative of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Dubai Crown Prince and Chairman of the Government Council, geared toward remodeling your complete Dubai right into a pleasant metropolis for individuals of willpower by 2020. It additionally marks an endeavour of RTA so as to add happiness to this group phase,” defined Al Tayer.

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businessliveme · 5 years ago

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A Jet-Setting Billionaire Had It All. Then Carson Block Came Along

(Bloomberg) — Bavaguthu Raghuram Shetty was once a typical billionaire with a taste for the high-life.

He splurged on a private jet, vintage cars and two entire floors of the Burj Khalifa, the world’s tallest skyscraper. His website shows him hobnobbing with politicians, Bill Gates and Bollywood royalty.

“The thrill of speed and freedom makes me love cars,” Shetty, 77, told local reporters last year.

Shetty had more than enough money — at least on paper — to afford such a lifestyle from companies he helped found, including hospital operator NMC Health Plc and financial services firm Finablr Plc. On Dec. 10, his stakes in the public companies were valued at $2.4 billion, making up the bulk of a fortune spanning education, hospitality and one of the world’s oldest tea companies.

Then, a week later, Carson Block came along.

Block’s investment firm, Muddy Waters, issued a report criticizing NMC’s accounts and disclosing a short position. Since then, Muddy Waters’s scrutiny has snowballed into a troubling scenario for Shetty that sheds light on his complex share arrangements and casts doubts about his net worth. His holdings in Finablr and NMC are worth $885 million based on market closing prices Tuesday, but Shetty’s fortune may now be just a fraction of that, depending on the size of his borrowings.

Filings this month show that Shetty pledged a quarter of his NMC stake against loans with First Abu Dhabi Bank and Zurich-based Falcon Private Bank. Two other shareholders may own half of his reported stake. Another lender — Al Salam Bank Bahrain — has already sold some of those shares to enforce security over a loan for Shetty, and NMC said Tuesday that First Abu Dhabi Bank sold another chunk earlier this month.

The situation “seems to have gone beyond some of the issues that Muddy Waters focused on initially,“ said Gavin Launder, a fund manager at Legal & General Investment Management, who owned shares in NMC until October. “The increased scrutiny has unearthed other issues.”

Law firm Herbert Smith Freehills has launched a review of Shetty’s holdings at his request, a spokesperson for the Indian-born businessman said, declining to comment further until the analysis is completed. Shetty resigned Sunday as NMC’s chairman.

In its Dec. 17 report on NMC, Muddy Waters hinted at potential overpayment for assets, inflated cash balances and understated debt. Shares of the United Arab Emirates’ biggest private health-care provider have since plunged more than 67%, and the firm is now the focus of takeover speculation. The sell-off also spread to Finablr, which issued a statement Wednesday calling for the Shetty family to clarify their holdings in the company by the end of the month.

NMC has disputed Muddy Waters’s claims, and the company hired former FBI Director Louis Freeh to conduct an independent review of the short seller’s allegations. Meanwhile, local regulators “are making inquiries with the relevant parties,” a spokesperson for the U.K.’s Financial Conduct Authority said.

Shetty is hardly the only ultra-wealthy person to leverage his assets. Elon Musk has used his shares in Tesla Inc. to obtain personal loans, while Oracle Corp. Chairman Larry Ellison has put up millions of the company’s shares to fund a lavish lifestyle that includes trophy properties, America’s Cup teams and the Indian Wells tennis facility in California.

But such deals can also sour, as demonstrated by Shetty’s lenders selling shares his investment firm pledged. He and his advisers are investigating details of the sales as part of their legal review, according to filings.

To complicate matters, Shetty pledged another batch of NMC stock in 2018 as part of a so-called equity collar arrangement with Goldman Sachs Group Inc. that uses options to limit the impact from share moves. Last month, he also pledged most of his stake in Finablr to refinance a loan from the company’s takeover of foreign-exchange firm Travelex for about $1.2 billion.

BRS Ventures Investment, the UAE-based holding company for most of Shetty’s assets, doesn’t report consolidated financials, preventing a complete analysis of his net worth. His other assets include a catering company, a waste-management firm and pharmaceutical business Neopharma, which four months ago was in the early stages of planning for an initial public offering.

Block, 43, earned his reputation as a short seller a decade ago through targeting U.S.-listed Chinese companies that he claimed were frauds. More recently, his San Francisco-based firm focused on British litigation-finance firm Burford Capital Ltd. and Japanese biotech stock PeptiDream Inc. Short sellers seek to benefit from a decline in a company’s share price.

Shetty founded NMC in 1975 after moving to Abu Dhabi from his native India. He created Finablr two years ago to consolidate his financial brands before listing it on the London Stock Exchange in 2019.

Block said he didn’t anticipate NMC’s shareholding drama.

“I wouldn’t have been able to predict that we’d get these bizarre disclosures about unclear share ownership coming out of the company,” he said in a Feb. 13 phone interview. “This has been obviously a more dramatic unraveling than we usually see.”

The post A Jet-Setting Billionaire Had It All. Then Carson Block Came Along appeared first on Businessliveme.com.

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courtneytincher · 6 years ago

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Two Women Surge in Race to Take on Trump

(Bloomberg) -- Want to receive this post in your inbox every day? Sign up for the Balance of Power newsletter, and follow Bloomberg Politics on Twitter and Facebook for more.Three years after Hillary Clinton became the first woman to secure a major party nomination for the U.S. presidency, two female Democratic candidates are surging to the top of a crowded field of possible 2020 challengers to President Donald Trump.Freshman California Senator Kamala Harris has leapfrogged into second place in polls since the first debate, surpassing Vermont Senator Bernie Sanders – who finished second for the nomination in 2016 – and highlighting front-runner Joe Biden’s vulnerabilities.Massachusetts Senator and liberal firebrand Elizabeth Warren also saw a bump after last week's nationally televised face-off, as voters search for a progressive alternative to Biden in the biggest candidate field in history.Warren also is winning respect from a small but growing circle of senior bankers and hedge fund managers, despite having made Wall Street a top target.With seven months to go before the contest officially begins in Iowa – and 11 more debates before the party convention next July – it’s still early days.But even though a lack of support from white female voters contributed to Clinton’s loss, the surge by Harris and Warren could be a sign that Democrats are open to again picking a woman to take on Trump.Global HeadlinesMerkel’s Stand | History might remember that one of Angela Merkel’s closing acts as chancellor was to return a German to the helm of the European Union’s executive and help elevate two women to the top jobs for the first time. But as Patrick Donahue and Ian Wishart report, she fumbled along the way and was lucky to land on her feet. The queen of Europe is no longer the unassailable force she was, yet the bruising horsetrading also revealed that Merkel remains a woman of principle.Click here for a guide to who will lead the bloc’s biggest institutions.Double whammy | The Trump administration abandoned its hard-fought plan to add a citizenship question to the 2020 census after the U.S. Supreme Court challenged its purpose, a win for immigrant-rights groups and Democrats who said the query was designed to dilute their power. The setback came the same day a federal just blocked the administration’s plan to jail immigrants seeking asylum and deny them bail if they crossed the U.S. border without permission.Boiling waters | The U.S. denounced Chinese anti-ship missile tests in the South China Sea as “coercive acts,” underscoring tension between the two powers as they resume trade talks. China fired at least one missile over the weekend and was expected to continue testing through today. There’s concern the weapons could target American warships that assert free-navigation rights by sailing close to occupied features in the disputed waters.HP, Dell, Microsoft and Amazon are considering shifting “substantial” production capacity out of China to avoid U.S. tariffs, Nikkei reported, amid the continuing trade dispute between the U.S. and China and Washington’s blacklisting of Chinese tech giant Huawei.Khashoggi’s murder | The UN expert who investigated the murder of U.S.-based Saudi Arabian columnist Jamal Khashoggi said it was a “state killing” that should prompt world leaders to reconsider holding the Group of 20 summit in Riyadh next year. Agnes Callamard said the meeting must be moved so participants aren't “complicit” in the crime.Migrants attacked | Libya’s UN-backed government accused strongman Khalifa Haftar of ordering an airstrike that killed 40 people at a detention center outside Tripoli housing immigrants believed to be heading to Europe. While Haftar’s Libyan National Army reportedly denied responsibility, the attack may increase international pressure for him to return to the UN-sponsored peace process aimed at ending the OPEC member’s civil war.What to WatchAfter a yearlong assault on the Federal Reserve and its chairman, Trump has tapped two economists to join the central bank’s board who are likely to support his call for lower interest rates. Iran gave the EU until Sunday to comply with its obligations under a 2015 nuclear pact, saying it will restart its Arak nuclear reactor if the deadline isn’t met. The EU’s executive branch will meet today to decide on disciplinary action against Italy over its debt after the country’s government took steps to reduce this year’s deficit target.And finally ... Fighter jets and tanks will provide the backdrop for Trump’s Independence Day speech tomorrow on the National Mall in a first-of-its-kind July 4 celebration that critics say risks turning the annual event into a de facto Trump rally. The “Salute to America,” as Trump calls it, will feature flyovers and an expanded fireworks show that will briefly ground commercial flights. Trump conceived the changes after his plan for a military parade on Veteran’s Day was stymied by complaints from local officials about the cost. \--With assistance from Flavia Krause-Jackson.To contact the author of this story: Kathleen Hunter in London at [email protected] contact the editor responsible for this story: Michael Winfrey at [email protected], Karl MaierFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

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global-news-station · 6 years ago

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DOHA: Two years after flying in thousands of dairy cows to beat a trade embargo, Qatari milk producer Baladna has made its first exports.

Qatar is the world’s top liquefied natural gas exporter but a net importer of nearly everything else. The small but wealthy country has been under a trade and transport boycott by Saudi Arabia and its allies since June 2017 that has forced it to retool an economy once heavily reliant on fellow Gulf states.

Saudi Arabia, Bahrain and Egypt accuse Qatar of supporting extremist groups. Doha denies this and says the boycott, which closed its only land border and disrupted shipping routes, is an attempt to infringe on its sovereignty.

Baladna received its first cows a month after the boycott and set up a huge diary farm. It says it now supplies more than half of Qatar’s fresh milk and is exporting to Afghanistan, Yemen and Oman, and soon to Libya.

Soon after the boycott was imposed, Doha developed new trade routes to replace its former Gulf partners. In late 2017 it opened a $7.4 billion port designed to become a regional transport hub.

Government officials say Baladna’s rapid expansion shows the embargo has made Qatar’s economy stronger. Their goal is to encourage local producers.

In April, Baladna rolled out a line of fruit juices. In Qatar’s supermarkets, brands like Mazzraty, which opened the country’s largest poultry plant in January, sit beside “Qatar Farms” displays of local fruit and vegetables.

Vegetable output is up about 20% since mid-2017 to around 66,000 tonnes per year and is expected to increase by 20,000-40,000 tonnes next year as new farms come online, said Sheikh Faleh Bin Naser Al Thani, an agriculture official at the Ministry of Municipality and Environment.

Qatar is now self-sufficient in dairy and fresh poultry. Before 2017 it produced only about 20% and 10% percent of its needs in those sectors, respectively.

“Qatar after June 5, 2017 is not like Qatar before,” said Baladna communications director Saba al-Fadala, referring to the start of the boycott. “We now don’t want or need anyone.”

Schoolchildren tour the milking parlors of Baladna’s farm, where 20,000 cows live in vast air-conditioned sheds. The visitors learn how flying in cows restored milk supplies that had been trucked in before Saudi Arabia closed the border.

TAKING A HIT

But other sectors of Qatar’s economy have suffered, with real estate and retail taking a hit. Shopping malls and hotels once filled with regional tourists at times appear nearly abandoned. Property prices fell sharply amid a supply glut in the run-up to Qatar hosting the World Cup 2022.

In March, Qatar Airways reported its second straight annual loss. Barred from the airspace of countries imposing the boycott, the state-owned carrier has had to re-route many flights, increasing their duration and cost.

At the same time, the boycott has forced Qatar to mount a public relations drive in the United States and Europe to counter claims by rivals that it finances terrorism.

It has also adopted a lower profile in the region after losing many of the bets it placed during the 2011 Arab Spring in Syria, Libya, and Egypt, where Qatar backed Islamist groups such as the Muslim Brotherhood.

But with a national population of just over 320,000 and a $320 billion sovereign fund, Qatar is well-placed to weather the embargo, diplomats and analysts say.

“If you are going to be subject to a blockade, then you better have a lot of money,” one banker told Reuters.

In the early months of the crisis, Qatar liquidated nearly $3 billion in U.S. treasury investments and drew down over $40 billion in foreign reserves to support its currency and banks.

The economy has since stabilized, growing 2.2% year-on-year in the third quarter of 2018. Qatar’s banks have been replenished by foreign deposits replacing much of the Saudi and Emirati money that left, and its stock market was the top performer in the Middle East last year.

Qatar’s goal of greater food self sufficiency has required launching agriculture on a commercial scale in one of the world’s harshest desert climates.

Nasser al-Khalaf, the managing director of Agrico, a produce grower and greenhouse manufacturer, says his business has boomed since he designed a system to keep fruit and vegetables cool enough to grow year-round.

In a polycarbon greenhouse, rows of ripening hydroponic tomatoes are cooled below 28 degrees Celsius as the temperature outside tops 40. Khalaf said the system allowed him to more than triple fruit and vegetable production to over 15 tonnes per day

Khalaf said his greenhouses are attracting investors looking at farming for the first time, drawn partly by increased subsidies for power, fertilizer and seeds since 2018.

“We never before saw businessmen investing in farms. They liked to invest in buildings and industry, anything but farms,” said Sheikh Faleh, the Qatari official.

Rabban Agriculture is one of the new entrants.

Owner Al Rabban Holding – with investments in property, transport and bottled water – is now considering initiatives including collateral-free loans from Qatari banks for agriculture projects, said deputy chairman Khalifa al-Rabban.

REFORMS AND OUTREACH

Qatari officials and diplomats said there was no sign of a let-up in the Gulf dispute, which has bolstered domestic support for 38-year-old ruler Emir Tamim bin Hamad Al Thani.

This has allowed him to accelerate reforms requested by Western allies that would have previously have faced local opposition, such as wider labor rights and a liberalized investment code for foreign ownership.

The reforms are intended to position Qatar as “like-minded with the Euro-U.S. community”, said a Western diplomat.

Doha pledged nearly $2 billion to expand Al-Udeid, the largest U.S. air base in the region. Qatar Petroleum aims to invest $20 billion in the United States, while the Qatar Investment Authority wants to expand its U.S. portfolio to $45 billion from $30 billion.

Nader Kabbani, director of research at Brookings Doha, said Qatar’s tone had changed from initially wanting to resolve the dispute to asserting it can go it alone.

Qatar can do that, said a Western diplomat, thanks to its gas wealth, World Cup exposure and international outreach efforts.

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