Tag Archives: UAE

One in five UHNWI India plans to buy a new home by 2021: Report | Instant News

The preferred investment location for very wealthy Indians is mostly concentrated in the domestic market followed by preference in the international markets of the United States, United Kingdom, Singapore and the United Arab Emirates.


PUBLISHED ON 27 FEB 2021 15:05 IST

One in five very high-net-worth individuals (UHNWI) India plans to buy a new home in 2021 compared to one in 10 in 2020, according to the Knight Frank Wealth Report 2021.

A UHNWI is defined as $ 30 million (approx Rp217 crore) or more.

The preferred investment location for very wealthy Indians is mostly concentrated in the domestic market followed by preference in the international markets of the United States, United Kingdom, Singapore and the United Arab Emirates.

Globally, around 26% of the ultra-rich are also planning to buy a house by 2021, up from 20% in 2020. The pandemic-fueled mini housing boom is expected to continue into 2021.

Knight Frank estimates demand for this fuel will increase by 7% this year for major markets globally.

In terms of attributes when choosing a new home, the transportation network, internet connectivity and recreational facilities that are nearby are of the utmost importance for UHNWI India.

Offices and logistics emerged as the top two real estate sectors that UHNWI is interested in investing in India, while globally the private rental housing sector and logistics, which are the two top choice asset classes.

UHNWI India has 17% of their wealth allocated to property investment compared to 21% globally. “Pandemics are an enormous demand for locations that offer a health advantage – mountains, lakes and shorelines,” said Liam Bailey, head of global research at Knight Frank.

“Demand is very strong for rural and coastal properties, with access to open spaces being the most desirable features.”



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Italy permanently blocks arms sales to Saudi Arabia, UAE via Yemen | Instant News

Italy has joined a growing number of countries blocking arms exports to Saudi Arabia and the United Arab Emirates (UAE) due to their involvement in the Yemen war with a recent move making an 18-month temporary suspension permanent.

“Today I announce that the government has withdrawn its ongoing authorization for the export of missiles and aircraft bombs to Saudi Arabia and the United Arab Emirates,” Foreign Minister Luigi Di Maio said in a statement on Friday.

“(This is) an act that we consider because, a clear message of peace came from our country. For us, respect for human rights is an unbreakable commitment,” he said.

Humanitarian groups hailed the decision as “historic,” as it would define a complete blockade of arms sales to the Gulf states.

The Italian Network for Peace and Disarmament, a coalition of organizations campaigning against Italian arms sales, said the move would cut off the supply of at least 12,700 bombs, according to a statement carried by the Anadolu Agency (AA).

In 2018, Italian Prime Minister Giuseppe Conte promised his government wanted to end arms sales to Saudi Arabia because of its involvement in Yemen and the murder of journalist Jamal Khashoggi.

“We are very satisfied,” said Democratic Party lawmaker Lia Quartapelle, commenting on the move. “Networks against the use of weapons and Catholic associations have turned their attention to human rights abuses in Yemen for a while.”

Earlier this week, US President Joe Biden too pause for arms sales to Saudi Arabia and the UAE while his government is reviewing exports. The move came when Biden’s government also designated the Houthis as a terrorist group despite the calls against it for its possible human consequences.

“This shared vision helps us promote a new dialogue with the US to manage relations in the Mediterranean in a more balanced way,” said Quartapelle.

United Nations describe the Yemen war – a conflict seen as a proxy war between Riyadh and Tehran – as the world’s biggest humanitarian crisis, with 80% of its people needing help because of the chaos since 2015.

In 2019, several EU countries froze arms sales to Saudi Arabia, which leads a military coalition fighting Iran-backed Houthi rebels in Yemen in a conflict that has killed tens of thousands of people.

According to Italy’s latest figures, since 2019, Saudi Arabia and the UAE have been ranked 10th and 11th on the list of the largest markets for Italian arms exports, according to Agence France-Presse (AFP). Exports to Saudi Arabia were worth 105.4 million euros ($ 128 million), while those to the UAE were worth 89.9 million euros ($ 109 million).

Italy’s decision came just as former Prime Minister Matteo Renzi, who plunged the Italian government into a recent political crisis by withdrawing the Viva Italia Party from the ruling coalition led by Giuseppe Conte, flew to Saudi Arabia to speak at an investment forum.

In Riyadh, he spoke at the Future Investment Initiative (FII) – nicknamed “Davos in the desert” – in a video that appeared to be pre-recorded with Mohammed bin Salman (MBS), the crown prince of Saudi Arabia.

Video footage published online shows Renzi praising the “great” prince, who is also known as MBS, saying: “Arabia could be a place of the new Renaissance for the future.”

The visit sparked controversy in Italy, as the blocked sales are part of a total export of 20,000 missiles worth more than 400 million euros agreed in 2016 by the center-left government led by Renzi, Di Maio’s longtime foe.

The Italian newspaper Domani, which carried the news of Renzi’s Saudi engagement, said he received $ 80,000 a year for being a member of the FII advisory board.

“Senator Renzi has not done anything different from what other international leaders have done,” a member of parliament from his party, Ettore Rosato, told reporters.

“(He) went on to make a cultural contribution,” he added.


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The Houthis have praised the block for Italian arms sales to Saudi, UAE | Instant News


Yemen’s Houthi rebels welcomed Italy’s decision to suspend arms sales to Saudi Arabia and the United Arab Emirates (UAE).

“Italy’s announcement to stop arms sales to countries engaged in aggression in Yemen is a positive step,” rebel spokesman Mohamed Abdel-Salam said on Twitter.

He said the move would “contribute to protecting [Yemeni] civilians and support the peace process ”.

On Friday, the Italian Ministry of Foreign Affairs announced a ban on arms exports to Saudi Arabia and the UAE, following warnings from activists and lawmakers about the use of weapons that violate human rights in Yemen.

There were no comments from Riyadh and Abu Dhabi about the Italian decision.

The move comes days after new US President Joe Biden issued a temporary hiatus on arms sales to Saudi Arabia and the UAE pending review.

Saudi Arabia and the UAE are members of the Saudi-led bloc that launched a massive air campaign in 2015 to roll out military gains for the Houthis, one year after Iran-aligned rebels overran much of Yemen, including the capital Sanaa.

According to the United Nations Office for the Coordination of Humanitarian Affairs, the conflict in Yemen has so far claimed the lives of 233,000 people.

* Ahmed Asmar contributed to this report from Ankara

The Anadolu Agency website contains only a portion of the news offered to subscribers on the AA News Broadcasting System (HAS), and is in summary form. Please contact us for subscription options.


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Pakistan: Obstacles against Israel | ORF | Instant News

There is occasional debate in Pakistan on the issue of recognizing Israel. After several days of discussing the pros and cons of establishing diplomatic relations with the Jewish state, the matter returns to firewood, until next time. In recent weeks, the issue of Israel has again become a matter of public debate. This latest episode begins after the UAE and Bahrain decided to establish full diplomatic relations with Tel Aviv.

The speed with which Israel and the UAE are moving towards normalization stunned everyone in Pakistan. Almost everyone in Pakistan believes that the Saudis are tacitly supporting the Abrahamic Treaty which paved the way for UAE-Israel relations. Meanwhile, Pakistan’s ‘elected’ Prime Minister Imran Khan told reporters he was on the ground tremendous pressure to recognizes Israel. After reports of a secret meeting between the Israeli Prime Minister and the Saudi Crown Prince emerged, the debate in Pakistan over recognition of Israel became even more urgent, especially after journalists known as mouthpieces of military rule began to consider supporting ties with Israel.

The speed with which Israel and the UAE are moving towards normalization stunned everyone in Pakistan. Almost everyone in Pakistan believes that the Saudis are tacitly supporting the Abrahamic Treaty which paved the way for UAE-Israel relations.

That defense Israel by honorary majors and colonels Media Corps of the Pakistani Army is seen as a balloon experiment floated by the Pakistan Army to gauge public reaction before they make a decision. But the balloon soon deflated as opponents not only in the media but in politics, civil society, clergy and every other section of society opposed any approach to Israel. Not long after Imran Khan and then Pakistan Foreign Office states that there is no question of recognizing Israel until it agrees to a two-state solution, restoring pre-1967 borders and Jerusalem to becoming the capital of a Palestinian state. With rumors circulating that the Army is not on the same page as the ‘elected’ government, the soldiers were forced to explain that it supports the government in this matter.

For decades, and especially after India restored full diplomatic ties with Israel in the early 1990s, Pakistan faced a dilemma of whether or not to follow suit. While there have always been voices in Pakistan to recognize Israel, that dilemma is easily resolved in a world much simpler than it is today. With much of the Islamic world refusing to accept Israel, there is little incentive for Pakistan to go against the tide. Doing so would mean challenging the Arab world, which is the lifeline of Pakistan’s economy. Pakistan of course maintains some back-line contact with Israel. In his book, former foreign minister Khurshid Kasuri reveals that Pakistani officials will frequently contact their Israeli counterparts to convey messages, seek and provide guarantees, and even discuss security issues involving other countries. But formal recognition, even if discussed, is never really on the table.

There was a bit of a stir in 2005 when Kasuri’s meeting with his Israeli counterpart in Turkey was followed by a meeting between Israeli Prime Minister Ariel Sharon and Pakistani military dictator Pervez Musharraf at the United Nations. Although billed as ‘chance encounter’ – Sharon later said she never met anyone by chance – it’s clear that the back channel is active to make the two meet and exchange pleasantries. But even though the good votes came from Israel – the Israeli foreign minister said it was Israel don’t see Pakistan as an enemy and faces no threat from Pakistan’s nuclear program (The News International 19/9/2005) – bilateral relations are not moving forward.

Despite the good voices coming from Israel – the Israeli foreign minister says it’s Israel instead don’t see Pakistan as an enemy and faces no threat from Pakistan’s nuclear program (The News International 19/9/2005) – bilateral relations are not moving forward

Nearly a quarter of a century after the Israeli-Palestinian peace accord, geopolitics in the middle east began to undergo major changes once again in the mid-2010s. Among other things, the ‘Arab Spring’, Iran’s aggressive adventures and expanding footprints, increasing security challenges due to terrorism, and the loss of US interest in the region are prompting new alignments. Around that time, reports of informal contact between Israelis and Arabs (in particular, Saudi Arabia) began to spread. One of them meeting facilitated by India. A statement from the Saudi Crown Prince about accepting Israel with a warning was also made. In 2018, a mysterious flight from an Israeli business jet to Islamabad reported. Although the Pakistani authorities firmly deny the existence of any such flights, rumors continue to swirl. After the UAE and Bahrain recognized Israel, Sudan followed suit, and there were reports from other Arab countries, including Saudi Arabia, preparing to normalize diplomatic ties with Israel, Pakistan was in a quandary of whether to join the bandwagon or swim against the tide.

The report began to put a cycle of increasing pressure on Pakistan from Arab countries. as well as the US, to follow suit. The Saudis’ unprecedented decision to demand repayment of loans it has made to Pakistan, coupled with a refusal to extend a suspended oil facility is seen as part of the pressure. The UAE also refused to extend its loan and further reversed the screw by placing visa restrictions. Pakistanis believe that there is full pressure from the Arabs on the Israeli problem. For the first time, Israel poses a real dilemma for Pakistanis who have to choose between standing on the horse of an ideological hobby (read Islamist) on the one hand, and protecting their interests on the other.

In the view of many pragmatic Pakistanis, with Arabs opening up to Israel, Pakistan would not have faced a violent backlash from the Islamic world if Pakistan also recognized Israel. Pakistanis believe there are real economic and diplomatic benefits they will receive if they normalize relations with Israel: India will no longer benefit from Israel, which has to balance its relationship with Pakistan; Pakistan will get access to Israeli defense equipment; Israel can help Pakistan in agriculture and other technology; Pakistan would be better placed to advocate for the Palestinian cause with Israel; just as India uses the Jewish lobby to gain influence in the US, so can Pakistan; Recognition of Pakistan will eliminate the “Zionist conspiracy” against Pakistan. After all, Pakistan has no direct conflict with Israel and neither country poses a direct threat to one another. Finally, if Arabs are reconciled with Israel, there is no reason for Pakistan to remain stuck in an ideological stalemate.

Pakistanis believe there are real economic and diplomatic benefits they will receive if they normalize relations with Israel: India will no longer benefit from Israel having to balance its relations with Pakistan.

Clearly, strategically and diplomatically there is no real downside to recognizing Israel. The problem is inherently ideological and political. Like India, Israel is also an ideological blind spot for Pakistan. In fact, Pakistan has cornered itself by indoctrinating its people against India and Israel – Yahood-o-Hunood ‘, nemesis, constantly conspires against Mumliqat-e-Khudadad (The country that is blessed by God). As a result, any setback is now a political hot-potato, not only for politicians but also for the military. Imran Khan’s harsh and vengeful politics further limits the political space for the government. The opposition will destroy the government if it moves one inch forward with Israel. The clerics have also considered disowning Israel and threatening to pursue the path of war. Preservation of politics and ideological purity, which included Jinnah’s antipathy to the Jewish state, took precedence over pragmatism. Even within the military, there are officers who oppose Israel’s recognition. And then there are the ‘loved ones’, if also lost, the ‘Kashmiri causes’ that Pakistanis believe will suffer a grievous blow if they reconcile and normalize relations with Israel.

Fearing political repercussions, the Pakistani government and military have for now decided to resist the temptation and pressure to recognize Israel. But for how long? Although Imran Khan emphatically ruled out normalizing the relationship until the three conditions given above are met, no one takes it seriously. For one, he’s famous as the ‘U-turn Khan’, and could take a turn on the issue. This could happen if he succeeds in breaking away from born-again Muslims and his hobbyist supporters of Islam, or because the army decides to take the bitter pill, or even because US and Arab economic and political pressures become unsustainable. As far as priests are concerned, most of them are paid by Arab countries and charities. The shoving and winking, or even the urging and winking of the Arabs was enough to keep these people in line. In fact they will easily find the logic and reasons of Islam in recognizing Israel. There will be some who will continue to fight. But opponents can easily be controlled.

The problem is that whenever someone in Pakistan decides to go normal with Israel, the same factors – divisions in the army, opposition opposing the move, clerics making threatening voices – must be confronted. And if Pakistan sticks to the conditions it has laid down, then it might as well stop discussing Israel for good because there is no way Israel will fulfill this requirement just to have diplomatic relations with Pakistan, let alone if almost all of Islam is relevant. the countries are prepared to recognize Israel.


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The president of the UAE will arrive next week in a two week visit | Instant News

Rahim yar khan – President of the United Arab Emirates (UAE) Sheikh Khalifa bin Zayed Al Naihan will arrive here next week on a two week visit. High-level delegates will also accompany him.

The President of the UAE, in his visit, apart from hunting houbara, is also expected to meet with President Arif Alvi, Prime Minister Imran Khan and Army Commander General Qamar Javed Bajwa. In order to review the arrangements for the visit of the royal delegation to Cholistan, former parties from the UAE will arrive in Cholistan. Forest rangers have been deployed in five districts adjacent to Cholistan. Punjab Chief Minister Usman Bazdar has summoned three companies of Rangers from the federal interior ministry for the security of the UAE royal delegation.

UAE rulers came to Cholistan to hunt houbara for a long time but due to illness, UAE President Sheikh Khalifa bin Zayed has been unable to come to Cholistan for the past eight years. However, meanwhile, the Crown Prince of UAE Sheikh Muhammad bin Zayed used to visit Cholistan every year with a high level delegation and during the last two years his personal visits to Cholistan were then granted official visiting status.

According to sources, Sheikh Khalifa bin Zayed and Deputy Ruler of Dubai Sheikh Hamdan bin Rashid Al Maktoum will come to Cholistan for private visits next week with high-level royal delegations and during those visits they will visit Rahim Yar Khan and Bahawalpur. He is also expected to visit the Bahawalnagar, Rajanpur and Cholistani areas adjacent to DG Khan. To ensure security, three Rangers companies will be deployed in these districts until March 31, 2021. According to sources, the personal visit of UAE President Sheikh Khalifa bin Zayed to Rahim Yar Khan may be more than two weeks.


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