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Egypt announces $35 billion UAE investment on Mediterranean coast

Egypt announces $35 billion UAE investment on Mediterranean coast

EGYPT said that it had signed a deal with the United Arab Emirates to develop a prime stretch of its Mediterranean coast that would bring $35 billion of investments to the indebted country over the next two months. The deal with ADQ, the smallest of Abu Dhabi's three main sovereign investment funds, is for the development of the Ras El Hekma peninsula and could eventually attract as much as $150 billion in investments, Egyptian Prime Minister Mostafa Madbouly told a press conference. Such inflows would provide a huge boost to Egypt's crisis-stricken economy as it faces new pressures linked to…
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Kenyan coastal gem gets a direct link to Middle East as Dubai ties to Africa

Kenyan coastal gem gets a direct link to Middle East as Dubai ties to Africa

MOMBASA is set for a surge in tourism after FlyDubai launched direct flights between Dubai, the commercial hub of the United Arab Emirates, and the coastal city. This new direct route, a first for any UAE airline, is also poised to strengthen economic ties and cultural exchange between the two regions. Flydubai will operate four weekly direct flights to Mombasa from January 17, 2024, on Mondays, Wednesdays, Fridays and Sundays. The carrier becomes the first national carrier to operate direct flights from Dubai and to the coastal city as it makes a foray into Africa. "We remain committed to opening…
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Abu Dhabi’s IRH to invest $1.1 bln in Zambia’s Mopani Copper Mines

Abu Dhabi’s IRH to invest $1.1 bln in Zambia’s Mopani Copper Mines

THE United Arab Emirates International Resources Holdings (IRH) will invest $1.1 billion in Zambia's Mopani Copper Mines in return for 51% ownership of the business, the state-owned ZCCM Investments Holdings (ZCCM-IH) said. Last month, Zambia picked IRH, a unit of Abu Dhabi's most valuable listed company, International Holdings Company (IHC), as the strategic equity partner in Mopani, which was coveted by several investors looking for copper assets. Zambia had been seeking a new investor for Mopani since it took control of the assets from Glencore in 2021 after agreeing to pay the Swiss commodities company $1.5 billion in a deal funded by debt.…
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Guinea’s ousted ex-president returns from medical trip

Guinea’s ousted ex-president returns from medical trip

GUINEA'S former president, Alpha Conde, ousted in a military coup in September, returned to the country after a trip to the United Arab Emirates for a medical check-up, the interim government said. Conde, 84, who is under house arrest in Guinea but is allowed to receive visitors, left the West African nation in January after the junta allowed him to travel on medical grounds. "The former president will remain in Guinea for as long as his health permits", the junta said in a late-night statement read on national television. "His integrity and dignity will always be respected." Guinea's coup was…
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UAE lifts travel ban to 12 African countries for vaccinated citizens

UAE lifts travel ban to 12 African countries for vaccinated citizens

THE United Arab Emirates announced that it will lift a travel ban to 12 African countries for citizens who are fully vaccinated, state news agency WAM said on Friday. The countries include Kenya, Tanzania, Ethiopia, Nigeria, the Republic of Congo, South Africa, Botswana, Eswatini, Lesotho, Mozambique, Namibia, and Zimbabwe. Fully vaccinated citizens who had booster doses will be allowed to travel starting from February 6. The move also allows medically exempted unvaccinated persons and "humanitarian cases" to travel, according to WAM.
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UAE to suspend entry from three countries, Dubai updates travel protocols

UAE to suspend entry from three countries, Dubai updates travel protocols

THE 0 (UAE) will, from today,  suspend travellers from Liberia, Sierra Leone and Namibia from entering the country on national and foreign flights, state news agency WAM has reported, citing a statement by the General Civil Aviation Authority (GCAA). The GCAA said the restrictions would also include transit passengers, with the exception of transit flights travelling to the UAE and bound for those countries. Cargo flights between those countries and the UAE will continue, as usual, the statement added. It said the restrictions were being introduced to limit the spread of COVID-19. The GCAA added that exemptions to its decision…
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Boost for SA’s hunt for the Guptas

Boost for SA’s hunt for the Guptas

THE United Arab Emirates has ratified a 2018 extradition treaty with South Africa, its embassy in Pretoria said on Wednesday, a move that President Cyril Ramaphosa's government hopes will lead to the return of the Gupta brothers to face corruption charges. South Africa signed the treaty with the UAE in late 2018, part of Ramaphosa's effort to crack down on those accused of corruption and influence peddling under his predecessor, Jacob Zuma. It was ratified in April, UAE's embassy said in a statement. The Gupta brothers - Atul, Ajay and Rajesh Gupta - are accused of using connections with Zuma…
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Saudi and UAE condemn Israel over Palestinian clashes at Al-Aqsa

Saudi and UAE condemn Israel over Palestinian clashes at Al-Aqsa

SAUDI Arabia and the United Arab Emirates yesterday condemned Israel's plans to evict Palestinians from homes on land claimed by Jewish settlers, following a night of violence in Jerusalem. Israeli police fired rubber bullets and stun grenades towards rock-hurling Palestinian youth at Jerusalem's Al-Aqsa mosque late on Friday. The clashes at Islam's third holiest site and around East Jerusalem, which injured 205 Palestinians and 17 police officers, came amid mounting anger over the planned evictions. "Saudi Arabia rejects Israel's plans and measures to evict dozens of Palestinians from their homes in Jerusalem and impose Israeli sovereignty over them," the kingdom's…
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Saudi Arabia to invest $3 bln in Sudan investment fund

Saudi Arabia to invest $3 bln in Sudan investment fund

SAUDI Arabia has committed to investing $3 billion in a joint fund for investments in Sudan, and to encourage other parties to participate, Sudanese minister of Cabinet affairs Khalid Omer Yousif has told Reuters. Earlier this week, Sudan had secured a recommitment from Saudi Arabia to a $1.5 billion grant it had first announced in April 2019. The commitments came from Crown Prince Mohammed bin Salman, Yousif said, during a visit by Sudanese Prime Minister Abdalla Hamdok and other senior officials this week, seeking to boost cooperation as Sudan's transitional authorities struggle to tackle a long-running economic crisis. Sudan received…
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Missing Princess Latifa: Britain wants proof of life

Missing Princess Latifa: Britain wants proof of life

BRITAIN says it would like to see proof that Sheikha Latifa, one of the ruler of Dubai's daughters, is still alive after the BBC published a "deeply troubling" video saying she was being held against her will in a barricaded villa. Asked if he would support seeing some kind of proof from the United Arab Emirates that Sheikha Latifa was alive, British Foreign Secretary Dominic Raab told Sky News television: "Given what we've just seen, I think people would just at a human level want to see that she's alive and well, of course, I think that's a natural instinct…
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