Month: January 2024

  • Vivek Ramaswamy to skip Iowa GOP debate

    Vivek Ramaswamy to skip Iowa GOP debate

    The Ohio-based entrepreneur accused CNN of being biased against him and cited multiple incidents where the said network allegedly did unfair coverage of the presidential candidate….reports Asian Lite News

    Indian-American Republican leader Vivek Ramaswamy announced that he won’t be participating in the fifth GOP debate in Iowa and announced that he will instead be doing a live audience show with Tim Pool.

    He lashed out at CNN — the forum hosting the Republican debate — over their “shenanigans” and predicted that it would be the “most boring” debate in history.

    “Forget @CNN’s fake Iowa “debate” on Jan 10 which will be the most boring in modern history. We’re doing a live-audience show that night in Des Moines with @Timcastinstead. Won’t hold back. Here’s the backstory on CNN’s shenanigans,” Ramaswamy posted on X.

    The Ohio-based entrepreneur accused CNN of being biased against him and cited multiple incidents where the said network allegedly did unfair coverage of the presidential candidate.

    He said that on December 13, “CNN disgracefully cut short its own Iowa town hall with me after I correctly pointed out uncomfortable truths about Jan 6”, which CNN instantly dismissed as “conspiracy theories”.

    “On Dec 14, CNN then threatened my campaign on the phone with a cease-and-desist and had YouTube black out the town hall after it got 200k+ views on YouTube in a matter of hours. Yet Nikki Haley’s CNN town hall was still up after 6 months (68k total views, sad),” Ramaswamy said.

    He added, “Later on Dec 14, CNN notified my campaign that multiple qualifying polls, which the RNC used for each of the RNC Debates, mysteriously wouldn’t count for CNN’s fake “debate” in Iowa on January 10″.

    Ramaswamy further cited an incident where CNN’s Oliver Darcy “wrote a newsletter that castigated his own network for allowing [me] to infect the public with his conspiracy campaign”.

    “CNN Commentator Van Jones said he was “literally shaking” when he heard me speak. And my rhetoric is “one step away from Nazi propaganda.” CNN Anchor Anderson Cooper said I delivered a “soliloquy of conspiracy theories”. CNN Anchor Pamela Brown and “Chief Investigative Correspondent” said Vivek has a “history of peddling disinformation,” Ramasamy further said.

    He also cited an incident where CNN Anchor Kaitlan Collins said that Ramaswamy uses “a reasonable tone to sell sinister lies to people who aren’t paying close attention and might think what he is saying maybe is legitimate”.

    “CNN’s token “conservative” Commentator Alyssa Farah Griffin said my rhetoric is “damaging to the country,” Ramaswamy added.

    Notably, Ramaswamy has a history of attacking mainstream media outlets over coverage of him and has also garnered criticism for his rhetoric during the first four GOP debates, according to The Hill.

    Meanwhile, Ramaswamy along with other GOP primary candidates, including Florida Gov. Ron DeSantis and former United Nations Ambassador Nikki Haley, trail well behind former President Donald Trump who enjoys a sweeping 50-60 per cent support among GOP voters, according to various surveys.

    Trump has also skipped all the four GOP debates held so far, and is likely to skip the fifth one too, citing his massive lead. According to The Hill, doubts have been raised regarding whether Ramaswamy — who has been polling in the single digits — will qualify for the January 10 debate in Des Moines, Iowa. The next US presidential election is scheduled for November 5, 2024. (ANI)

    ALSO READ: Trump Takes Legal Action Over Maine Ballot Disqualification

  • Prosecutors charge Senator Menendez for receiving gifts

    Prosecutors charge Senator Menendez for receiving gifts

    The Gulf State is the second foreign government the Democrat from New Jersey is accused of aiding while in office, along with Egypt….reports Asian Lite News

    The United States Senator from New Jersey, Bob Menendez, is accused by federal prosecutors of accepting racing car tickets and other gifts from Qatar as part of a corruption plot, as reported by CNN.

    The Gulf State is the second foreign government the Democrat from New Jersey is accused of aiding while in office, along with Egypt.

    In the new indictment, prosecutors claim that Menendez’s extortion and bribery plot continued to persist in 2023 as well.

    The official charges against a suspect are listed in the amended indictment, which was made public on Tuesday, replacing the earlier one.

    According to the indictment, one of the new accusations against Menendez is that he took money from his accomplice, Fred Daibes, a real estate developer in New Jersey, in exchange for leveraging his connections to assist Daibes in obtaining millions of dollars from a Qatar-related investment fund.

    The prosecutors claim the senator went over and beyond to assist Qatar.

    As part of a bribery plot, Menendez, his wife Nadine Menendez, Daibes, and two other New Jersey businessmen were indicted as part of a bribery scheme. To the charges, all of them have pleaded not guilty, CNN reported.

    “Menendez provided Daibes with these statements so that Daibes could share them with the Qatari Investor and a Qatari government officials associated with the Qatari Investment Company,” the prosecutors have alleged.

    Notably, Menendez is accused of failing to disclose on his financial disclosure forms the gifts–gold bars and race tickets–that he received from Qatar and Daibes.

    Meanwhile, in August 2021, the senator sent Daibes a news statement in which he commended the Qatari government by saying, “You might want to send to them. I am just about to release,” the indictment alleges, according to CNN.

    A few months later, in January 2022, Menendez texted the investor from Qatar, saying, “I understand my friend is going to visit with you on the 15th of the month,” in advance of his meeting with Daibes in London to discuss the possible investment. He said, “I hope that this will lead to the favourable and mutually beneficial agreement that you have been engaged in discussing,” according to the indictment.

    According to CNN, a close relative of Nadine Menendez received tickets to the 2022 Formula One Grand Prix from the Qatari official in May of that year at the senator’s request. (ANI)

    ALSO READ: Now, Maine boots Trump from 2024 ballot

  • Cleverly Targets Foreign Students

    Cleverly Targets Foreign Students

    Revised ONS figures released last month showed net migration ran at a record figure of 745,000 in the year to Dec 2022…reports Asian Lite News

    Home Secretary James Cleverly has said the “unreasonable practice” of international students bringing their family to the UK will end as restrictions on visa routes come into force beginning today.

    A near-eightfold rise in the number of family members joining foreign students led the government to announce the ban last year for those not studying “high-value” degrees under government plans.

    Further, to prevent misuse of the visa system, foreign students will be stopped from switching from the student visa route into work routes until their studies have been completed.

    According to an Evening Standard report, Cleverly said the government is delivering on its commitment to the British public by setting out a “tough plan” to cut migration by tens of thousands and prevent people from manipulating the UK immigration system.

    “Today, a major part of that plan comes into effect, ending the unreasonable practice of overseas students bringing their family members to the UK. This will see migration falling rapidly by the tens of thousands and contribute to our overall strategy to prevent 300,000 people from coming to the UK,” he said.

    Revised Office for National Statistic (ONS) figures released last month showed net migration ran at a record figure of 745,000 in the year to December 2022.

    In the year ending September 2023, 152,980 visas were issued to dependants of students.

    As per the 2020-21 data, Indians represent the second largest cohort of international students coming to study at UK universities — with 87,045 first-year enrolments behind China’s 99,965 enrolments.

    In 2022, the number of Indian students (excluding dependents) who went to the UK for studies was 1,39,539, according to the Ministry of External Affairs.

    Education experts have expressed concern about the measure, saying international students will go to competitor nations if they are discouraged from coming to the UK.

    “I don’t celebrate the new changes…,” Nick Hillman, director of the Higher Education Policy Institute (Hepi) think tank, told The Standard.

    “International students benefit the UK in all sorts of ways. For example, they are vital to maintaining our world-class university sector as their fees cross-subsidise the teaching of home students and also help to fund UK research.

    According to estimates, international students add 35 billion pounds a year to the economy. Foreign students and their dependents contributed to the UK economy not just through fees of 10,000 pounds to 26,000 pounds but also via an NHS surcharge of 400 pounds a year for the student and 600 pounds for a dependent, according to the UK-based New Way Consultancy.

    XXXX

    Asylum backlog target met, says Sunak

    XXX

    Meanwhile, Prime Minister Rishi Sunak said that he has delivered on his commitment with more than 112,000 asylum cases being processed in the past year and small boat crossing arrivals down by 36 per cent.

    In December 2022, Sunak pledged to tackle the remaining legacy asylum backlog — which had more than 92,000 cases of individuals who claimed asylum before 28 June 2022, which were still waiting for an initial decision.

    Fundamental changes to the decision-making process and boosting efficiency has resulted in 112,000 asylum decisions this year, and the highest annual number of substantive decisions in a year since 2002, the UK Home Office said in a statement.

    “I am determined to end the burden of illegal migration on the British people. That is why we have taken action to stop the boats, return hotels to their local communities, and deter those wanting to come here illegally from doing so,” Sunak said in a statement.

    “By clearing the legacy asylum backlog, deciding more than 112,000 cases, we are saving the taxpayer millions of pounds in expensive hotel costs, reducing strain on public services and ensuring the most vulnerable receive the right support,” he added.

    The government said it stepped up processing, deploying an additional 1,200 caseworkers, meeting their target to double the number of asylum caseworkers and tripling productivity to ensure more illegal migrants are returned to their country of origin.

    All cases in the ‘legacy backlog’ have now been reviewed, with 86,800 decisions made, the Home Office said. In one four-week period from November 20 to December 17, 2023, there were 20,481 initial asylum decisions made, this is more than the number of asylum decisions made in the entirety of 2021.

    While all cases have been reviewed and 112,000 decisions made overall, 4,500 complex cases have been highlighted that require additional checks or investigation for a final decision to be made.

    According to the Home Office, these “hard cases” typically relate to asylum seekers presenting as children — where age verification is taking place; those with serious medical issues; or those with suspected past convictions, where checks may reveal criminality that would bar asylum.

    Ending the ‘legacy’ asylum backlog comes as end-of-year statistics show small boat crossings were down by 36 per cent in 2023. In recent months, crossings have fallen even more sharply — by 45 per cent in the second half of the year and 64 per cent in the final quarter of 2023, against equivalent periods in 2022.

    ALSO READ-CABINET REJIG: Cameron Makes Surprise Return as Cleverly Replaces Braverman

  • Arab Strategy Forum Kicks Off Today

    Arab Strategy Forum Kicks Off Today

    The Forum brings together a host of top political and economic officials, strategic experts and thought leaders from around the world….reports Asian Lite News

    Under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, the Arab Strategy Forum kicks off today at the Ritz-Carlton, Dubai International Financial Centre, under the theme ‘The Political and Economic State of the Arab World’.

    The Forum brings together a host of top political and economic officials, strategic experts and thought leaders from around the world.

    H.H. Sheikh Mohammed bin Rashid Al Maktoum stressed that the future of nations is determined by their ability to navigate changing trends, anticipate future events and objectively analyse global shifts on the political and economic scenes.

    “The UAE hosts a new edition of the Arab Strategy Forum tomorrow, welcoming officials, strategic experts and thought leaders in the areas of politics and economy, who come from around the world. We are deeply committed to creating the right environment for intellectual dialogue and for the exchange of visions, ideas and expertise for the benefit of our people and the future of the next generation,” H.H. Sheikh Mohammed said.

    “Arab Strategy Forum 2024 presents an opportunity to examine the state of the Arab world, both politically and economically, and to better visualise our approach to potential challenges in the coming years. Addressing new developments and changes objectively is a necessity born by political and economic shifts, as well as the realities of life. We welcome participants in the Arab Strategy Forum who analyse the present and anticipate the future,” he added.

    The new edition of the Arab Strategy Forum 2024 focuses on the political and economic state of the Arab world, as speakers discuss current shifts, position of the Arab world amidst a fast-changing scene, regionally and internationally. Participants will also forecast characteristics of the next phase and its repercussions on the global map of interests and power balances.

    The opening remarks will be presented by Mohammad Abdullah Al Gergawi, Minister of Cabinet Affairs and Chairman of the Arab Strategy Forum. He will be followed by Dr. Ghassan Salamé, Founding Dean of the Paris School for International Affairs who leads a session titled ‘The Political State of the Arab World in 2024’. This session addresses various topics including geopolitical turmoil and global divisions, analysis of global threats and their impact on immigration and refugee traffic, the role of international cooperation and agreements in de-escalation, among others.

    Jihad Azour Director, Middle East and Central Asia department, International Monetary Fund (IMF), leads a session entitled ‘The Economic State of the Arab World in 2024’, where he addresses the analysis of Arab economy and economic growth prospects, innovation for post-oil and traditional economies, the geopolitical impact on economic growth among others.

    A session entitled ‘What does the Arab World want from the World?’ will be presented by HRH Prince Turki Al Faisal bin Abdul Aziz Al Saud, Chairman of the King Faisal Center for Research and Islamic Studies, Dr. Anwar bin Mohammed Gargash, Diplomatic advisor to the UAE President, and HE Nabil Fahmy, Former Egyptian Minister of Foreign Affairs. The session discusses the political aspect of economic corridors, the GCC and paths of political influence in a multipolar world.

    The session ‘What does the World want from the Arab World?’ will be led by Professor Francis Fukuyama, professor of political sciences and author of ‘The End of History’, and Dr. Parag Khanna is Founder Managing Partner of FutureMap to discuss global trends and their impact on the Middle East, new global partnerships, as well as peace, global security, balance of powers and oil prices.

    ‘How the Arab World looks like from Moscow’ will host Professor Vitaly Naumkin is the President of the Institute of Oriental Studies.

    Dr. Abdulaziz Sager, Chairman of the Gulf Research Center and Dr. Fawaz Gerges, Professor of International Relations at the London School of Economics and Political Science will speak at a session entitled ’20 Years after the Iraq Invasion: Ramifications and Outcomes’. The session discusses the turning points in Iraq and the region as a whole, the geopolitical impact of the invasion, lessons learned and economic cost of the war among other topics.

    Bassem Youssef speaks in a session entitled ‘Brief History of the Arabs Image in Global Media’, where he discusses dismantling misconceptions of Arabs in international media among other topics.

    A report titled ‘The Cost of Not Having Peace’, conducted in collaboration with Eurasia Group, will be launched during the Arab Strategy Forum. It will be discussed by David Gordon, Eurasia Group and Dr. Abdul Munem Saeed, Chairman of the advisory board of the Egyptian Center for Strategic Studies.

    A platform for forecasting the geopolitical and economic events regionally and globally, the Arab Strategy Forum aims to present a clear forward-looking picture for decision-makers on the future of many issues; enabling leaders to develop strategic plans to meet the geopolitical and economic challenges.

    ALSO READ: UAE’s Hub for 2,000+ Food, Beverage Manufacturers

  • Etihad Welcomes 2024 With More Destinations to India

    Etihad Welcomes 2024 With More Destinations to India

    Daily flights from Abu Dhabi to Kozhikode (CCJ) and Thiruvananthapuram (TRV) in the Kerala region of India commenced on New Year’s Day….reports Asian Lite News

    Etihad Airways, the national airline of the United Arab Emirates, has kicked off 2024 by introducing two new services.

    Daily flights from Abu Dhabi to Kozhikode (CCJ) and Thiruvananthapuram (TRV) in the Kerala region of India commenced on New Year’s Day.

    These non-stop services to each destination bring the total number of Indian gateways served by Etihad to 10, underscoring the airline’s commitment to providing easy access to its expanding global network for guests travelling to and from the Subcontinent.

    Antonoaldo Neves, CEO of Etihad, said, “We have established a fantastic group of non-stop routes between India and Abu Dhabi, providing customers with easier access to our growing network without transiting through one of the main Indian hub airports.

    “Seamless and practical connections at Abu Dhabi ensure that our guests can easily access destinations across the GCC, Europe – including our four daily services to London – and North America. Moreover, they have the opportunity to enjoy a fantastic stopover in Abu Dhabi as an integral part of their journey.”

    The introduction of this service enhances accessibility to the picturesque countryside and beaches that Kerala is renowned for, creating increased inbound tourism to the region. Additionally, it streamlines travel for professionals visiting the burgeoning business hubs in the area.

    In 2023, the airline reintroduced services to Kolkata, a vital Indian gateway connecting Eastern India to global destinations. Furthermore, the airline has increased the frequencies of flights to Mumbai and Delhi, two of its most popular routes, from two per day to an impressive four flights per day.

    For 2024 Etihad has already announced new flights to Boston, USA starting on 31st March, to Nairobi, Kenya on1st May, and its exciting summer schedule includes an inaugural non-stop service to Nice, France and direct flights to the Greek isles of Mykonos and Santorini.

    ALSO READ: UAE Farmers Council discusses sustainability 

  • Sheikh Zayed Festival Breaks 4 Guinness World Records

    Sheikh Zayed Festival Breaks 4 Guinness World Records

    A unique laser show, a first in the region for these celebrations, captivated Festival visitors with vibrant colours and tranquil evening rhythms to mark the beginning of the New Year….reports Asian Lite News

    The Sheikh Zayed Festival in Abu Dhabi’s Al Wathba area celebrated New Year 2024 with exceptional shows and features, breaking 4 Guinness World Records. This included a spectacular fireworks display and a 60-minute drone show, along with international performances and programmes, creating a joyful and cultural atmosphere for visitors.

    The Festival attracted a large international crowd to celebrate the New Year with events, activities, and performances. A 40-minute fireworks display broke 3 Guinness World Records, while over 5,000 drones created dazzling formations in the sky, setting another record for the largest aerial logo.

    A unique laser show, a first in the region for these celebrations, captivated Festival visitors with vibrant colours and tranquil evening rhythms to mark the beginning of the New Year. Special shows took place at the Emirates Fountain, Glowing Towers Garden, and various pavilions, along with folklore performances from around the world.

    The entire Festival grounds were bustling with visitors who came to experience the international celebrations, especially the Heritage Village which celebrated the New Year with Razfa and Ayalah dances, in addition to special entertainment events presented at the various pavilions. Children’s City joined the fun festivities with special activities for children, including plays and competitions at the children’s theatre, fun rides in Fun Fair City, the thrilling House of Horror, Al Forsan Sports Resort, and many other special features set to enrich visitors’ experience with a festive spirit in the early hours of the New Year.

    Thousands of visitors gathered around the Emirates Fountain to enjoy the special performances, including Sparkling and Confetti shows, presented by authentic American, Mexican, and Ukrainian bands, in celebration of the New Year 2024.

    The international pavilions featuring the countries participating this year welcomed a massive crowd from all over the world to enjoy the carnival shows and folklore performances. The International Civilisations Parade roamed through Festival grounds, infusing a unique spirit into the celebrations scattered across every corner of the Festival, giving thousands of bystanders the opportunity to witness the multicultural festivities in one place that brings together the civilisations of the world.

    The Sheikh Zayed Festival offers new dining experiences from local and international restaurants, along with discounts and bonus surprises for shopping. The festival runs until March 9, 2024, with daily hours from 4 p.m. to midnight on weekdays and until 1 a.m. on weekends and public holidays, providing various events, activities, and competitions for all age groups.

    ALSO READ: 1B Followers Summit Elevates UAE’s Global Standing in Content Creation

  • Emiratisation Targets Activated For 12K More Companies

    Emiratisation Targets Activated For 12K More Companies

    The Ministry recently notified, via its digital system, more than 12,000 companies to comply with the decision, providing them sufficient time to meet their required targets…reports Asian Lite News

    The Ministry of Human Resources and Emiratisation (MoHRE) has started implementing the Cabinet Decision to expand the scope of companies subject to Emiratisation targets, where more than 12,000 companies with 20-49 employees, are required to hire at least one UAE citizen in 2024 and another one in 2025.

    The Ministry recently notified, via its digital system, more than 12,000 companies to comply with the decision, providing them sufficient time to meet their required targets.

    The targeted companies operate across 14 specific key economic activities: Information and communications; finance and insurance; real estate; professional and technical activities; administrative and support services; education; healthcare and social work; arts and entertainment; mining and quarrying; transformative industries; construction; wholesale and retail; transportation and warehousing; and accommodation and hospitality – all of which are sectors that are currently undergoing rapid growth and have the capacity to provide jobs and a suitable working environment.

    MoHRE issued a statement, calling on companies subject to the decision to “quickly meet their Emiratisation targets and avoid delaying it until the end of the year.”

    The Ministry emphasised, “It is crucial that targeted companies register to the Nafis platform in order to benefit from the support the programme provides in terms of supplying the private sector with qualified Emirati professionals capable of efficiently working in various targeted economic sectors, along with other advantages they can benefit from.”

    MoHRE added that it will continue to hold training workshops to educate companies subject to the decision about the procedures to follow to meet their required targets, in addition to instructing them on how to benefit from the support provided by the Nafis platform.

    The decision includes imposing annual financial contributions on companies that do not meet their required targets, amounting to AED96,000 for each UAE citizen not appointed in 2024, which will be collected starting January 2025. Meanwhile, financial contributions of AED108,000 will be imposed for failure to meet 2025 targets, to be collected in January 2026. Companies will be allowed to pay their contributions in instalment plans, in agreement with MoHRE.

    The Emiratisation decision for companies with 20-49 employees is applied in conjunction with the ongoing implementation of Emiratisation targets for companies with 50 or more employees, which are required to achieve a 2% annual growth in Emiratisation of their skilled jobs.

    ALSO READ: 1B Followers Summit Elevates UAE’s Global Standing in Content Creation

  • UAE President, WHO Chief Discuss Health Challenges in Gaza

    UAE President, WHO Chief Discuss Health Challenges in Gaza

    The WHO Director-General congratulated His Highness on the successful hosting of the UN Climate Change Conference (COP28) in the UAE at the end of last year….reports Asian Lite News

    President His Highness Sheikh Mohamed bin Zayed Al Nahyan received Dr Tedros Adhanom Ghebreyesus, Director-General of the World Health Organisation (WHO).

    During the meeting at Qasr Al Bahr in Abu Dhabi, both sides explored cooperation between the UAE and the WHO, emphasising the importance of bolstering international health cooperation, especially in light of the serious impact of diseases and pandemics on development, security, and stability worldwide.

    The WHO Director-General congratulated His Highness on the successful hosting of the UN Climate Change Conference (COP28) in the UAE at the end of last year. He praised the significant attention given to the health sector at COP events for the first time in the conference’s history, noting its positive impact on addressing the health consequences of climate change.

    Dr Tedros Ghebreyesus expressed appreciation for the efforts of His Highness and his initiatives in combating diseases and epidemics on a global scale and for the role of the UAE in supporting the organisation and its global health programmes. He also commended the UAE’s effective efforts in providing humanitarian and health support to the Gaza Strip, highlighting the UAE’s initiative to host 1,000 children from the area along with their families for treatment in UAE hospitals. This is in addition to hosting another 1,000 cancer patients for healthcare, as well as establishing a fully-equipped field hospital in the Gaza Strip.

    The meeting was attended by H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi; Saqr Ghobash, Speaker of the Federal National Council (FNC); H.H. Sheikh Tahnoun bin Mohammed Al Nahyan, Ruler’s Representative in the Al Ain region; H. H. Sheikh Saif bin Mohammed Al Nahyan; H.H. Sheikh Nahyan bin Zayed Al Nahyan, Chairman of the Board of Trustees of the Zayed Charitable and Humanitarian Foundation; Lt. General H.H. Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior; H.H Sheikh Omar bin Zayed Al Nahyan, Deputy Chairman of the Board of Trustees of Zayed bin Sultan Al Nahyan Charitable and Humanitarian Foundation; H.H. Dr. Sheikh Sultan bin Khalifa Al Nahyan, Adviser to the UAE President; H.H. Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Chairman of the Office of Development and Martyrs Families Affairs at the Presidential Court; H.H. Sheikh Hamdan bin Mohamed bin Zayed Al Nahyan; H.H. Sheikh Zayed bin Mohamed bin Zayed Al Nahyan; Sheikh Mohammed bin Hamad bin Tahnoon Al Nahyan, Advisor for Special Affairs at the Presidential Court; Dr. Maha Barakat, Assistant Minister of Foreign Affairs for Health, as welll as several sheikhs and high-ranking officials.

    ALSO READ: UAE Farmers Council discusses sustainability

  • UAE Commits to Peace, Stability, and Prosperity in 2024

    UAE Commits to Peace, Stability, and Prosperity in 2024

    In 2024, the UAE anticipates a year marked by growth and prosperity, approaching it with confidence and optimism. Emphasising the role of communication, diplomacy, and economic integration as tools for addressing regional challenges and benefiting all….reports Asian Lite News

    The United Arab Emirates enters 2024 with resolute determination to extend the principles of peace, stability, and prosperity in the region and beyond by continuing to strengthen partnerships, enhance multilateral cooperation and foster meaningful dialogue.

    Foreign Policy Principles

    Following an active year of collaboration with the international community and organisations, the UAE remains firmly committed to renforcing international peace and security and overcoming obstacles in all forms. The UAE’s diplomacy is dedicated to establishing a peaceful, secure, and prosperous year ahead for the entire region, and committed to enhancing international cooperation and multilateral collaboration.

    In a statement, the Ministry of Foreign Affairs (MoFA) stressed that the UAE will continue to reinforce the importance of cooperation within political and economic frameworks in the Gulf and Arab regions for the benefit of countries’ welfare and prosperity. The UAE will further strengthen its role in finding solutions to some of the world’s most pressing challenges, particularly climate change, renewable energy, water scarcity, food security, promoting human rights, counter-extremism, women’s empowerment, economic development and the security of supply, navigation, and international trade routes.

    UAE, “Stronger United” UNSC term

    As an elected member of the United Nations Security Council for 2022-2023, the Ministry reaffirmed that the UAE proudly served as a unifying force, and made significant impact during its two-year term in addressing regional and international challenges, and drafting resolutions that were adopted by the Council. The Ministry welcomed the successes the UAE achieved through mediation and prioritising diplomatic solutions to disputes while preventing the outbreak of new conflicts, based on its firm belief in establishing stability and reaching comprehensive political solutions in the Middle East and around the world, in addition to spreading a culture of tolerance and peace.

    In this regard, the Ministry stressed the UAE’s unwavering and steadfast position on the issue of the three Emirati islands occupied by Iran, which demonstrates support for peaceful efforts and initiatives that aim to resolve the issue in accordance with international law and the United Nations Charter. The UAE continues to advocate for resolution through bilateral negotiations or the International Court of Justice, demanding Iran to end its occupation of the islands and immediately cease all practices aiming to alter the islands’ status, including illegal settlements.

    Global Conflicts

    With regards to the ongoing crisis in the Gaza Strip, the Ministry underscored that the UAE has intensified all diplomatic efforts aimed at halting escalation, reaching a ceasefire, restoring peace, and preventing further loss of life, with a primary focus on safeguarding civilians, preserving facilities, and securing humanitarian corridors for the delivery of urgent relief and medical aid. In this regard, the Ministry highlighted the UAE’s firm efforts, endeavours and successful calls that led to the Security Council adopting Resolutions 2712 and 2720 which demand that tangible steps be taken to increase the necessary humanitarian aid flow to Palestinians, and safeguard the lives of the United Nations employees and humanitarian workers on the ground in the Strip.

    The Ministry reiterated the UAE’s longstanding support for all international efforts aimed at ensuring a two-state solution, and stressed that the establishment of an independent Palestinian state is the only way to end the cycle of violence and confrontations between the Palestinians and Israel.

    Furthermore, the Ministry reaffirmed the UAE’s longstanding and continuous support of all efforts aimed at promoting peace and de-escalation to end the ongoing conflict in Sudan, and resolve the Russian-Ukrainian Crisis, through dialogue and adherence to international law, while ensuring the protection of civilians and facilities. The Ministry highlighted the UAE’s deep-rooted stance in the rejection of violence, respect for nations’ sovereignty and territorial integrity, in addition to prioritizing conflict resolution through political and peaceful means.

    COP28, “UAE Consensus”

    As part of its comprehensive vision for global stability and the resolution of contemporary conflicts, the UAE hosted an exceptionally successful edition of the Conference of the Parties to the United Nations Convention on Climate Change (COP28), to advance international efforts. The Ministry underscored that the convention aimed to propel efforts for the advancement of Earth and humanity by mobilising innovative solutions that mark a significant milestone in climate action, in an inclusive manner that leaves no one behind.

    Economic Prosperity

    While building the future, the UAE’s foreign policy relies on efficient contributions in prominent international forums such as the G20, considering it an effective platform to foster peace, stability, and international prosperity, which reflects the nation’s steadfast commitment to achieving all international priorities.

    In 2023, the UAE achieved a remarkable economic accomplishment, with non-oil foreign trade recording exceptional growth rates by reaching AED 1.239 trillion over the past six months of the current year. This is expected to rise to over AED 2.5 trillion, affirming the UAE’s pivotal role as an international hub connecting the East with the West and the North with the South.

    Moreover, the Ministry highlighted that the UAE has strengthened its international partnerships over the past five decades, and continues to build economic competitiveness and sustainability while exploring new avenues of opportunity. As part of the “Projects of the 50”, which aims to create an advanced stage of development domestically and internationally, the UAE has launched several strategic projects and initiatives. The objective is to become an international capital of investment and economic innovation, fostering development opportunities by signing comprehensive partnership agreements (CEPAs) with active economies.

    CEPAs are designed to enhance economic competitiveness and attract USD 150 billion (AED 550 billion) of direct foreign investments over the next nine years across sectors including digital economy, entrepreneurship, advanced skills, space, and advanced technology.

    CEPAs are expected to pave the way for greater prospects in the Middle East, sparking a wave of economic opportunity built around digital and traditional trade. Goods traded by sea, road, and air will enjoy faster, easier access while unlocking the untapped potential of digital trade, cross-border data flows, and blockchain; not only serving the UAE, but also future generations across the Middle East.

    Humanitarian Efforts

    The Ministry stressed that the UAE’s diplomatic and humanitarian institutions will continue to support humanity by reinforcing efforts to eradicate poverty, including supporting projects in developing countries, contributing to stability, prosperity, and growth, as well as assisting nation’s impacted by crises and disasters. In this context, the Ministry reaffirmed that the UAE is one of the largest donors in foreign aid compared to its national income: as total value of foreign aid provided to over 190 countries over the past five decades reached USD 95.06 billion, including US$1.83 billion over the past year.

    ALSO READ: Desert Cyclone: India-UAE Joint Military Drill Kicks Off In Rajasthan

  • Goldman Sachs Updates India’s Economic Forecas

    Goldman Sachs Updates India’s Economic Forecas

    The Wall Street bank expects oil prices to rule at $81 a barrel in 2024 instead of the above $90 forecast earlier and services exports to remain strong due to US growth remaining resilient…reports Asian Lite News

    Goldman Sachs has lowered its projection for India’s current account deficit in 2023-2024 to 1 per cent of GDP from 1.3 per cent earlier as the US bank expects services exports to rise further while crude oil prices are expected to fall going ahead.

    The Wall Street bank expects oil prices to rule at $81 a barrel in 2024 instead of the above $90 forecast earlier and services exports to remain strong due to US growth remaining resilient.

    “India’s external balances remain favourable with a combination of low current account deficit, strong capital flows, adequate foreign exchange reserves and low external debt. Combined with this, expectations for a weaker dollar due to the likely five US Fed rate cuts this year suggest a ‘goldilocks’ environment for the country’s external balances,” according to the report.

    Goldman Sachs has also reduced its projection for India’s CAD for 2024-25 to 1.3 per cent from 1.9 per cent earlier.

    The global investment bank expects robust capital flows in 2024, driven by strong equity portfolio flows as the US Fed starts easing interest rates. FDI flows are also expected to increase as the country is emerging as an investment destination as global majors seek to diversify their supply chain outside China.

    Goldman Sachs has projected an overall balance of payment surplus of $39 billion in FY24 but this is expected to decline to $27 billion in 2024-25.

    The country’s oil imports fell to $164 billion in the January-November 2023 period from $189 billion in the same period last year as oil prices fell 18 per cent.

    Similarly, services trade surplus is tracking higher as exports have surprised to the upside, driven by both business and software services.

    India’s current account deficit narrowed in the July-September quarter of the current financial year due to a lower merchandise trade deficit and an increase in services exports, according to the latest RBI figures.

    The current account deficit (CAD) stood at $8.3 billion or 1 per cent of GDP, in the second quarter of 2023-24 compared with $9.2 billion or 1.1 per cent of GDP in the preceding quarter.

    ALSO READ: Dr. Shamsheer Vayalil Takes Helm at Amanat Holdings