DAVOS: As businessman and bankers sip their morning coffee in a hotel lobby, admiring the Swiss Alps, a disturbing scene is unfolding in the car park below: men with guns are ordering people onto their knees and stealing their watches.
“A Day in the Life of a Refugee,” an hour-long simulation that aims to give people a taste of being an asylum-seeker, has been held for the past 11 years at the annual World Economic Forum in Davos. Its organizers say it has never been needed more than now.
With anti-immigration policies gaining major support across Western countries, the aid group that runs the simulation wants politicians, officials and chief executives attending Davos to understand the issue from the frightening perspective of a refugee.
“It’s more effective now, the message,” said Sally Begbie, director of Hong Kong-based Crossroads Foundation. “We bring it to Davos because there are people making policy here. We want to give them a brief opportunity to step in a refugee’s shoes.”
Summit organizers have also included refugees in the main program — a long-term resident of a Kenyan refugee camp is a co-chair this year. But beyond Davos, refugee groups say doors are closing, especially in Europe.
On Tuesday, the United Nations criticized European nations for not allowing boatloads of migrants to disembark at safe ports and of relying instead on Libya’s coast guard to return them to the dangerous North African country.
Among asylum-seekers who managed to reach Europe before the ports closed, many have found work but others are finding it increasingly difficult. In Italy, the government has made a new law making it harder for asylum-seekers to get work.
In a migrant camp in the Serbian capital of Belgrade, Syrian asylum-seeker Mustafa Othman complains of little to do.
“I have done nothing,” he said, adding that he had failed his first goal on arriving in Europe: “to help my family, to do something for them.” The 33-year-old left his native Aleppo in 2012 and says he suffers depression, fearing deportation.
A former engineering student who speaks several languages, he helps out at the migrant center and assists aid groups.
Many other migrants, however, have found work and a new life, especially in Germany where official data issued in April 2018 showed a growing number are finding jobs.
One of those is 25-year-old Afghan migrant Quadratullah Hotak who made it to Germany before a huge 2015 migrant influx to Europe that has fueled support for populist parties across the continent and led to an anti-immigration backlash.
Hotak is a trainee at Ford Motor Company in Cologne and says his dream is to get a master craftsman certificate, become a Ford employee and “start a family and have a good future.”
Since Chancellor Angela Merkel’s 2015 decision to welcome almost one million asylum seekers, there are growing fears that Germany cannot cope with new arrivals.
In the Davos car park, though, a group of aid workers are trying to persuade those who make official policy — as well as executives who collectively hire hundreds of thousands of people worldwide — to make the case for continuing to accept refugees.
“I was very moved by it. It will stay with me forever,” said an executive from US tech firm Hewlett Packard, one of 26 people who went through the refugee simulation on Tuesday.
A gun in the face: Davos ploy to reshape refugee debate
A gun in the face: Davos ploy to reshape refugee debate
- The conference runs an hour long simulation to give attendees a taste of how it feels to be a refugee
- The organizers of the simulation, Crossboards Foundation, say it is needed now more than ever
IFC to provide $400 million loan for Pakistan’s copper-gold Reko Diq mine
- The loan adds to a $300 million commitment announced in April, bringing the total to $700 million
- Reko Diq, one of the largest undeveloped copper-gold deposits, is being developed by Barrick Gold
ISLAMABAD: The International Finance Corporation will provide a $400 million subordinated loan for Pakistan’s Reko Diq copper-gold mine, according to an IFC disclosure on Friday.
The loan adds to a $300 million commitment announced in April, bringing IFC’s total financing for the project to $700 million. The estimated cost of the mine is $6.6 billion, to be funded through a mix of debt and equity from a consortium of lenders.
“The estimated total Project cost is $6.6bn, and it will be financed using a combination of debt and equity,” the disclosure said, adding that other parallel lenders will provide the remaining debt financing.
This type of loan, known as subordinated debt, is typically repaid after other senior loans and helps absorb more risk, making it easier for other lenders to invest.
Other financiers, including the US EXIM Bank, Asian Development Bank, Export Development Canada, and Japan’s JBIC, are also expected to join the financing package, project director Tim Cribb told Reuters in April.
Term sheets are expected to close by early in the third quarter. IFC chief Makhtar Diop said earlier this year that the institution was “doubling down” on Pakistan, with a focus on infrastructure, energy and natural resources.
Reko Diq, located in Balochistan, is one of the world’s largest undeveloped copper-gold deposits. It is being developed by Barrick Gold, which holds 50 percent, with the remainder split between Pakistan’s federal and provincial governments.
Production is expected to begin in 2028. Barrick has projected the mine will generate up to $74 billion in free cash flow over its estimated 37-year life.
Saudi Arabia takes leading role in Helsinki ICRC donor summit
- The Kingdom’s delegation took part in various discussions, led by its deputy ambassador to Finland, Faisal Al-Shehri
RIYADH: Saudi Arabia has joined the International Committee of the Red Cross donor support group during a high-level summit in Helsinki, while simultaneously taking charge of a global peace-building initiative.
The Kingdom’s delegation took part in various discussions, led by its deputy ambassador to Finland, Faisal Al-Shehri, and Geneva-based humanitarian affairs chief at Saudi Arabia’s Permanent Mission to the United Nations, Shatha Al-Ahmadi.
ICRC president Mirjana Spoljaric highlighted Saudi Arabia’s status within the humanitarian community, describing the Kingdom as “not only a donor state, but a trusted and vital political partner for the International Committee of the Red Cross.”
Spoljaric specifically commended Saudi Arabia’s significant contributions to the global initiative designed to strengthen political commitment to international humanitarian law, positioning the Kingdom as a key driver of humanitarian policy development.
The Saudi delegation expressed appreciation to both the ICRC and Finnish government for organizing the summit, saying the Kingdom’s membership reflected its commitment to humanitarian work: “Our participation reflects an unwavering dedication to humanitarian action, rooted in our firm belief in the international community’s collective duty to assist conflict victims and deliver humanitarian aid.”
The delegation emphasized its full recognition of the ICRC’s unique mandate and exceptional position among humanitarian organizations, reaffirming Saudi support for maintaining its independence and neutrality.
The Kingdom has assumed leadership of the global initiative’s third operational track, which addresses the intersection of international humanitarian law and peace-building efforts.
Saudi delegates stressed the need for peaceful conflict resolution, political dialogue enhancement and diplomatic engagement between nations to foster mutual respect and create pathways toward lasting reconciliation and sustainable peace building.
The summit concluded with a ceremonial leadership transfer from Finland to the UK within the donor group structure.
Saudi representatives congratulated their British counterparts, expressing their enthusiasm for enhanced collaboration with the incoming leadership and all international partners to advance multilateral humanitarian system development.
Pakistan stocks drop over 1,900 points amid Israel-Iran tensions
- Analysts cite fears of broader regional escalation following Israeli strikes on Iran
- Israel struck Iran, claiming Tehran was “close” to developing a nuclear weapon
KARACHI: The Pakistan Stock Exchange (PSX) plunged more than 1,900 points on Friday, as investor sentiment soured following Israel’s strikes on Iran, triggering fears of wider regional escalation.
The benchmark KSE-100 index fell 1,949.56 points, or 1.57 percent, closing at 122,143.56, down from the previous close of 124,093.12.
Shares traded largely in the red, mirroring losses across regional and global markets after the Israeli attacks shook investor confidence, according to a market review by Pakistani brokerage Topline Securities.
“Geopolitical tensions after Israel’s attack in Iran weighed down on world equities, including the KSE100,” Raza Jafri, Head of Intermarket Securities, told Arab News. “In particular, if a geopolitical risk premium gets added to international oil prices on a prolonged basis, it could negatively affect the outlook for the current account deficit and inflation, given more than 25 percent of Pakistan’s import bill comprises of petroleum products.”
He noted that Pakistan was now “much more disciplined” economically, having avoided fuel subsidies and refrained from using foreign exchange reserves to support the currency. This, he said, would help the country better withstand a potential oil price shock than in the past.
Ahsan Mehanti, Chief Executive of Arif Habib Commodities Ltd, said stocks declined across the board in response to the strikes.
“Slump in global equities on geopolitical risks and weakening rupee played catalyst role in panic selling at PSX,” he said.
Israel launched strikes on Iran earlier on Friday, claiming Tehran was “very close” to developing a nuclear weapon. The attacks reportedly targeted nuclear facilities, scientists, and senior military commanders.
Pakistan stocks drop over 1,900 points amid Israel-Iran tensions
- Analysts cite fears of broader regional escalation following Israeli strikes on Iran
- Israel struck Iran, claiming Tehran was “close” to developing a nuclear weapon
KARACHI: The Pakistan Stock Exchange (PSX) plunged more than 1,900 points on Friday, as investor sentiment soured following Israel’s strikes on Iran, triggering fears of wider regional escalation.
The benchmark KSE-100 index fell 1,949.56 points, or 1.57 percent, closing at 122,143.56, down from the previous close of 124,093.12.
Shares traded largely in the red, mirroring losses across regional and global markets after the Israeli attacks shook investor confidence, according to a market review by Pakistani brokerage Topline Securities.
“Geopolitical tensions after Israel’s attack in Iran weighed down on world equities, including the KSE100,” Raza Jafri, Head of Intermarket Securities, told Arab News. “In particular, if a geopolitical risk premium gets added to international oil prices on a prolonged basis, it could negatively affect the outlook for the current account deficit and inflation, given more than 25 percent of Pakistan’s import bill comprises of petroleum products.”
He noted that Pakistan was now “much more disciplined” economically, having avoided fuel subsidies and refrained from using foreign exchange reserves to support the currency. This, he said, would help the country better withstand a potential oil price shock than in the past.
Ahsan Mehanti, Chief Executive of Arif Habib Commodities Ltd, said stocks declined across the board in response to the strikes.
“Slump in global equities on geopolitical risks and weakening rupee played catalyst role in panic selling at PSX,” he said.
Israel launched strikes on Iran earlier on Friday, claiming Tehran was “very close” to developing a nuclear weapon. The attacks reportedly targeted nuclear facilities, scientists, and senior military commanders.
Saudi FM holds calls with Kuwaiti, Palestinian and Norwegian counterparts on regional tensions
- Calls came amid rising tensions between Israel and Iran
RIYADH: Saudi Foreign Minister Prince Faisal bin Farhan on Friday held a series of phone calls with regional and international counterparts to discuss the escalating situation in the Middle East, the Saudi Press Agency reported.
In a call with Kuwaiti Foreign Minister Abdullah Ali Al-Yahya, the two sides reviewed the recent Israeli strike on Iran, its regional repercussions, and stressed the importance of de-escalation and safeguarding regional security, SPA added.
Prince Faisal also spoke with Palestinian Prime Minister and Foreign Minister Mohammad Mustafa, with discussions also focused on the latest developments in the region and their wider implications.
In a separate call, the Saudi minister discussed regional and international issues of common interest with Norwegian Foreign Minister Espen Barth Eide.
