UAE’s Sheikh Maktoum to attend Global Forum at Future Investment Initiative

Updated 23 October 2018
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UAE’s Sheikh Maktoum to attend Global Forum at Future Investment Initiative

 

RIYADH: Sheikh Mohammed bin Rashid Al Maktoum arrives in Riyadh ahead of his participation in the second session of the Global Forum of the Future Investment Initiative being held Saudi Arabia.

More to follow.


The US government has a new policy for terminating international students’ legal status

Updated 30 April 2025
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The US government has a new policy for terminating international students’ legal status

  • On Friday, after mounting court challenges, federal officials said the government was restoring international students’ legal status while it developed a framework to guide future terminations

WASHINGTON: The US government has begun shedding new light on a crackdown on international students, spelling out how it targeted thousands of people and laying out the grounds for terminating their legal status.
The new details emerged in lawsuits filed by some of the students who suddenly had their status canceled in recent weeks with little explanation.
In the past month, foreign students around the US have been rattled to learn their records had been removed from a student database maintained by Immigration and Customs Enforcement. Some went into hiding for fear of being picked up by immigration authorities or abandoned their studies to return home.
On Friday, after mounting court challenges, federal officials said the government was restoring international students’ legal status while it developed a framework to guide future terminations. In a court filing Monday, it shared the new policy: a document issued over the weekend with guidance on a range of reasons students’ status can be canceled, including the revocation of the visas they used to enter the US
Brad Banias, an immigration attorney representing a student whose status was terminated, said the new guidelines vastly expand ICE’s authority beyond previous policy, which did not count visa revocation as grounds for losing legal status.
“This just gave them carte blanche to have the State Department revoke a visa and then deport those students even if they’ve done nothing wrong,” Banias said.
Many of the students who had visas revoked or lost their legal status said they had only minor infractions on their record, including driving infractions. Some did not know why they were targeted at all.
Lawyers for the government provided some explanation at a hearing Tuesday in the case of Banias’ client Akshar Patel, an international student studying information systems in Texas. Patel’s status was terminated — and then reinstated — this month, and he is seeking a preliminary court ruling to keep him from being deported.
In court filings and in the hearing, Department of Homeland Security officials said they ran the names of student visa holders through the National Crime Information Center, an FBI-run database that contains reams of information related to crimes. It includes the names of suspects, missing persons and people who have been arrested, even if they have never been charged with a crime or had charges dropped.
In total, about 6,400 students were identified in the database search, US District Judge Ana Reyes said in the hearing Tuesday. One of the students was Patel, who had been pulled over and charged with reckless driving in 2018. The charge was ultimately dropped — information that is also in NCIC.
Patel appears in a spreadsheet with 734 students whose names had come up in NCIC. That spreadsheet was forwarded to a Homeland Security official, who, within 24 hours of receiving it, replied: “Please terminate all in SEVIS.” That’s a different database listing foreigners who have legal status as students in the US
Reyes said the short time frame suggested that no one had reviewed the records individually to find out why the students’ names came up in NCIC.
“All of this could have been avoided if someone had taken a beat,” said Reyes, who was appointed by President Joe Biden. She said the government had demonstrated “an utter lack of concern for individuals who have come into this country.”
When colleges discovered the students no longer had legal status, it prompted chaos and confusion. In the past, college officials say, legal statuses typically were updated after colleges told the government the students were no longer studying at the school. In some cases, colleges told students to stop working or taking classes and warned them they could be deported.
Still, government attorneys said the change in the database did not mean the students actually lost legal status, even though some of the students were labeled “failure to maintain status.” Instead, lawyers said, it was intended to be an “investigative red flag.”
“Mr. Patel is lawfully present in the US,” Andre Watson of the Department of Homeland Security said. “He is not subject to immediate detention or removal.”
Reyes declined to issue a preliminary injunction and urged lawyers from both sides to come to a settlement to ensure Patel could stay in the US
 

 


Syria’s foreign minister met State Dept officials in New York, sources say

Updated 30 April 2025
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Syria’s foreign minister met State Dept officials in New York, sources say

  • Damascus is keen to hear a realistic path forward from the United States for permanent sanctions relief while conveying a realistic timeline to deliver on Washington’s demands for the lifting of the sanctions, one of the sources said

WASHINGTON: Syrian Foreign Minister Asaad Al-Shibani met with senior US State Department officials on Tuesday in New York, two sources familiar with the matter said, as Damascus seeks a clear road map from Washington on how to secure permanent sanctions relief.
Shibani has been in the United States for meetings at the United Nations, where he raised the three-star flag of Syria’s uprising as the official Syrian flag 14 years after the country’s civil war erupted. Syria’s long-time oppressive ruler, Bashar Assad, was ousted by a lightning rebel offensive in December.
Tuesday’s meeting was the first between US officials and Shibani to take place on US territory and comes after Syria responded earlier this month to a list of conditions set by Washington for possible partial sanctions relief.
It was not immediately clear who Shibani met with from the State Department, although one of the sources earlier said he was expected to meet with a group of US officials including Dorothy Shea, acting US ambassador to the United Nations.
State Department spokesperson Tammy Bruce confirmed that “some representatives of the Syrian interim authorities” were in New York for the UN meetings, but declined to say whether any meetings with American officials were planned.
“We continue to assess our Syria policy cautiously and will judge the interim authorities by their actions. We are not normalizing diplomatic relations with Syria at this time, and I can preview nothing for you regarding any meetings,” she said.
Damascus is keen to hear a realistic path forward from the United States for permanent sanctions relief while conveying a realistic timeline to deliver on Washington’s demands for the lifting of the sanctions, one of the sources said.
The United States last month handed Syria a list of eight conditions it wants Damascus to fulfill, including destroying any remaining chemical weapons stockpiles and ensuring foreigners are not given senior governing roles.
Reuters was first to report that Natasha Francheschi, deputy assistant secretary in the Bureau of Near Eastern Affairs, handed the list of conditions to Shibani at an in-person meeting on the sidelines of a Syria donor conference in Brussels on March 18.
Syria is in desperate need of sanctions relief to kickstart an economy collapsed by years of war, during which the United States, Britain and Europe imposed tough sanctions in a bid to put pressure on Assad.
In January, the US issued a six-month exemption for some sanctions to encourage humanitarian aid, but this has had limited effect.
In exchange for fulfilling all the US demands, Washington would extend that suspension for two years and possibly issue another exemption, sources told Reuters in March.
In its response to US demands, Syria pledges to set up a liaison office at the foreign ministry to find missing US journalist Austin Tice and detail its work to tackle chemical weapons stockpiles, including closer ties with a global arms watchdog.
But it had less to say on other key demands, including removing foreign fighters and granting the US permission for counterterrorism strikes, according to the letter.

 


Trump eases auto tariffs burden as Lutnick touts first foreign trade deal

Updated 30 April 2025
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Trump eases auto tariffs burden as Lutnick touts first foreign trade deal

WASHINGTON/DETROIT: US President Donald Trump signed a pair of orders to soften the blow of his auto tariffs on Tuesday with a mix of credits and relief from other levies on materials, and his trade team touted its first deal with a foreign trading partner.
The developments helped eased some investor worries about the erratic trade policies of Trump as the president visited Michigan, a cradle of the US auto industry, just days before a fresh set of 25 percent import taxes was set to kick in on automotive components.
The trip, on the eve of his 100th day in office, came as Americans take an increasingly dim view of Trump’s economic stewardship, with indications his tariffs will weigh on growth and could drive up inflation and unemployment.
In his latest partial reversal of tariff policies, the Republican president agreed to give carmakers two years to boost the percentage of domestic components in vehicles assembled domestically.
It will allow them to offset tariffs for imported auto parts used in US-assembled vehicles equal to 3.75 percent of the total value of the Manufacturer’s Suggested Retail Price of vehicles they build in the US through April 2026, and 2.5 percent of US production through April 30, 2027.
Auto industry leaders had lobbied the administration furiously during the weeks since Trump first unveiled his 25 percent tariffs on imported vehicles and auto parts. The levies, aimed at forcing automakers to reshore manufacturing domestically, had threatened to scramble a North American automotive production network integrated across the US, Canada and Mexico.
It offers the industry a “little relief” as companies invest in more US production, Trump said as he left Washington for Michigan. “We just wanted to help them ... if they can’t get parts, we didn’t want to penalize them.”
The White House said the change will not affect the 25 percent tariffs imposed last month on the 8 million vehicles the United States imports annually.
Autos Drive America, a group representing Toyota Motor, Volkswagen, Hyundai and nine other foreign automakers, said Trump’s order provided some relief “but more must be done in order to turbocharge the US auto industry.”

MORE TARIFF UNCERTAINTY

Candace Laing, president of the Canadian Chamber of Commerce, said the tariff fix fell short of what companies in the deeply integrated North American industry needed.
“Only an end to tariffs provides real relief. Ongoing ups and downs perpetuate uncertainty, and uncertainty drives away business for both Canada and the U.S,” she said in a statement.
The uncertainty unleashed across the auto sector by Trump’s tariffs remained on full display Tuesday when GM pulled its annual forecast even as it reported strong quarterly sales and profit. In an unusual move, the carmaker also opted to delay a scheduled conference call with analysts until later in the week, after the details of tariff changes were known.
Meanwhile, US Commerce Secretary Howard Lutnick told CNBC he had reached a deal with one foreign power that should permanently ease the “reciprocal” tariffs Trump plans to impose. Lutnick declined to identify the country, saying the deal was pending local approvals.
“I have a deal done ... but I need to wait for their prime minister and their parliament to give its approval,” he said.
White House officials had no further comment on the country in question, but Trump struck an upbeat tone about a deal with India, telling reporters: “India is coming along great. I think we’ll have a deal with India.”
Lutnick’s comments helped further lift stock prices that had been battered by Trump’s moves to reshape global trade and force goods makers to shift production to the US. The benchmark S&P 500 Index closed 0.6 percent higher for a sixth day of gains, its longest streak of gains since November.

WRONG ON EVERY PREDICTION

Trump and his team aim to strike 90 trade deals during a 90-day pause on his reciprocal tariffs announced earlier in April. His administration has repeatedly said it was negotiating bilateral trade deals with dozens of countries.
A chief Trump goal is to bring down a massive US goods trade deficit, which shot to a record in March on a surge of imports aimed at front-running the levies.
Trump’s aggressive trade stance has cascaded through the global economy since his return to office in January, and the 90-day pause was unveiled after fears of recession and inflation sent financial markets into a tailspin.
Easing the impact of auto levies is Trump’s latest move to show flexibility on tariffs which have sown turmoil in financial markets, created uncertainty for businesses and sparked fears of a sharp economic slowdown. A Reuters/Ipsos poll published Tuesday showed just 36 percent of respondents approve of his economic stewardship, the lowest level in his current term or in his 2017-2021 presidency.
Meanwhile, the US will release the first quarterly report on US gross domestic product during Trump’s term on Wednesday. It is expected to reflect a large drag from his tariffs, mostly from a record surge in imports as companies and consumers front-loaded purchases of foreign goods to try to beat the new levies. The economy is expected to have expanded at a 0.3 percent annualized rate from January through March, according to a Reuters poll of economists, down from 2.4 percent in the final three months of 2024.
American and global companies are increasingly sounding the alarm about the tariffs’ effects on their ability to plan.
UPS on Tuesday said it would cut 20,000 jobs to lower costs, while US ketchup maker Kraft Heinz and Swedish appliances maker Electrolux were among companies citing tariff headwinds.
About 40 companies worldwide have pulled or lowered their forward guidance in the first two weeks of first-quarter earnings season, a Reuters analysis showed.
“Every single prediction has been proved to be wrong,” Yannick Fierling, Electrolux CEO, told Reuters. “I’m surprised if people are claiming they have a view where tariffs are going.” 


Starbucks earnings disappoint as CEO Niccol’s strategy faces US hurdles

Updated 30 April 2025
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Starbucks earnings disappoint as CEO Niccol’s strategy faces US hurdles

  • Starbucks is paring down promotions and discounts, and relying less on its loyalty program as it invests in broader marketing

Starbucks faces challenges in reviving its business, CEO Brian Niccol said on Tuesday, after the coffee giant posted disappointing global comparable sales and profit with inflation and economic uncertainty driving up costs and dampening US demand.
Investors have placed their bets on Niccol’s turnaround strategy for the brand, whose sales have fallen for four straight quarters, by reducing production and service times and investing in stores to improve customer experience.
“Our financial results don’t yet reflect our progress, but we have real momentum with our ‘Back to Starbucks’ plan,” Niccol said in a statement.
Starbucks paused rolling out its Siren System store revamp program, launched under former CEO Laxman Narasimhan, because it was capital heavy, said Niccol, who had helped revive Chipotle Mexican Grill as CEO of the burrito chain.
The company will focus on investing in improving front-end delivery instead of kitchen equipment, Niccol said on a post-earnings call. “The equipment doesn’t solve the customer experience that we need to provide.”
Niccol said Starbucks was improving service speed with the right staffing and deployment, and that its refreshed marketing was resonating with customers.
Starbucks will also review its US store portfolio as it rolls out labor-focused technological changes including a pilot program that allows customers to schedule their mobile orders, he said.
However, consumers are growing more cautious as US President Donald Trump’s erratic trade tariffs have created economic uncertainty and threaten to fuel inflation. US restaurant visits and spending weakened in February and March.
Starbucks’ shares fell 6.5 percent in extended trading. The stock, which had surged in the months following Niccol’s appointment as CEO, is down about 7 percent so far this year.
North American same-store sales fell 1 percent for the fiscal second quarter ended March 30, worse than the 0.24 percent drop estimated by analysts in an LSEG poll. The company said sales in Canada returned to growth in the quarter.

TURNAROUND TIMELINE
It may take time for traffic to reaccelerate because changes in stores and reinstating its coffee house roots could take at least another three to six months, said Bernstein analyst Danilo Gargiulo.
Starbucks is paring down promotions and discounts, and relying less on its loyalty program as it invests in broader marketing.
The average ticket, or amount spent by customers per visit, was up 3 percent in the second quarter.
The company said it will localize and move production as needed to mitigate the impact of US tariffs on imports from China.
The company’s international business improved slightly, with sales unchanged in China, its second-largest market, after four straight quarters of decline. Starbucks said it was committed to growing business in China long-term.
International comparable sales rose 2 percent, compared with estimates of a 1.13 percent drop.
Gross margin fell 590 basis points in the quarter and the company reported adjusted earnings per share of 41 cents, missing estimates of 49 cents.
Total same-store sales declined 1 percent in the second quarter, compared with analysts’ average estimate of a 0.26 percent fall. Comparable sales had declined 4 percent in the preceding three-month period.


Trump celebrates 100 days in office with campaign-style rally

Updated 30 April 2025
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Trump celebrates 100 days in office with campaign-style rally

  • Joe Biden is “sleepy,” the media is “fake,” judges who oppose him are “communist,” Democratic opponents are “radical left,” and friendly countries have “abused us more so than foe on trade,” Trump said, listing targets of his ire
  • Unlike most presidents, Trump has focused more on energizing his base than broadening his appeal — and many supporters are still with him

WARREN, United States: Donald Trump promised Tuesday that he is just getting started as he marked the radical and vengeful beginning of a presidency that has shaken the world and destabilized the United States.
Basking in the adulation of cheering supporters in Michigan, the 78-year-old touted the “most successful first 100 days of any administration in the history of our country,” even as polls show Americans becoming disenchanted with the economic and political tumult.
Trump said he missed the campaign trail, and launched with visible relish into a speech that often sounded more like that of a candidate than a head of state.
Joe Biden is “sleepy,” the media is “fake,” judges who oppose him are “communist,” Democratic opponents are “radical left,” and friendly countries have “abused us more so than foe on trade,” Trump said, listing targets of his ire.
The president promised to conclude deals on trade, but provided little in the way of details.
And — to chants of “USA! USA!” — he showed a video of migrants in handcuffs and shackles being taken from a plane, transported by bus and filmed on their knees as their heads were shaved, illustrating his controversial deportation policy.

Trump has shaken up the United States like few presidents before him.
His billionaire backer Elon Musk has led dramatic cutbacks of the federal workforce, and the president himself has reshaped relations with the world by unveiling sweeping tariffs, berating allies and eliminating much foreign aid.
Polls show that the honeymoon period that Americans historically accord presidents at the start of their terms has evaporated for Trump, who has angrily dismissed the results, but has tacitly acknowledged that he must moderate some policies as stock market turmoil takes a toll.
Wall Street, down more than six percent since Trump took office, ticked up Tuesday on news he would soften some of the sweeping tariffs impacting automakers.
He also recently backtracked on threats to fire Jerome Powell — who has warned that Trump’s tariffs would likely reignite inflation — but still criticized the Federal Reserve chairman Tuesday as “not really doing a good job.”
After a 2017-2021 term in which some aides sought to rein him in, Trump has surrounded himself this time with unabashed loyalists — and told reporters he was on track to accomplish all of his second-term goals.
“I think either we’ve done everything, or it’s in the process of being done,” Trump said before heading to his rally.
In the grand entrance hallway of the White House, Trump has removed a portrait of Barack Obama, the United States’ first Black president, to make way for a painting of himself surviving an assassination attempt.
He has used threats of cutting off government access and contracts to pressure law firms whose partners once were involved in cases against him, and he has frozen billions of dollars in funding for universities — hotbeds of criticism against the administration.

Unlike most presidents, Trump has focused more on energizing his base than broadening his appeal — and many supporters are still with him.
“He’s amazing. Everybody’s worried about tariffs. We don’t care — look at everything else that’s coming together too,” said Donna Fitzsimons, a 65-year-old merchandise seller at the Michigan rally venue ahead of Trump’s appearance.
“People don’t realize it takes time to get where you need to go.”
The rival Democratic Party has seized on economic anxieties although it has also struggled in polling.
“Trump is to blame for the fact that life is more expensive, it’s harder to retire, and a ‘Trump recession’ is at our doorstep,” the Democratic National Committee said, calling the 100 days a “colossal failure.”
Even with Congress narrowly in Republican hands, Trump has tested the limits of presidential power by signing more than 140 executive orders, many of which have faced court scrutiny.
He has sought to end birthright citizenship — which is guaranteed by the US Constitution — and Musk has summarily axed billions of dollars appropriated by Congress.
Trump has shown signs of impatience. He promised on the campaign trail to end the Ukraine war within 24 hours, but Russia has rebuffed a broad ceasefire offer.
The former reality TV star has claimed the pledge was made “in jest,” although CNN reported that he made it more than 50 times before taking office, and was even at pains to point out that he was being serious.