Saudi Arabia reportedly set to invest $30bn in Bangladesh

Leading Saudi Arabian companies are looking to invest in Bangladesh. (Reuters)
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Updated 12 February 2020
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Saudi Arabia reportedly set to invest $30bn in Bangladesh

  • Saudi delegation led by Deputy Minister for International Affairs Mahir Al-Gassin and including representatives from seven of the Kingdom’s largest conglomerates
  • BIDA’s Mohammad Sirazul Islam: We are very keen to have Saudi investors here in Bangladesh because they have huge investment capacity

DHAKA: Some of Saudi Arabia’s top companies are looking to invest around $30 billion in a number of Bangladesh’s business sectors, according to Bangladeshi officials.

On the first day of a two-day Joint Economic Council meeting, a 40-member Saudi delegation — led by Deputy Minister for International Affairs Mahir Al-Gassin and including representatives from seven of the Kingdom’s largest conglomerates: Saudi Aramco, ACWA Power, Honey and Health, Engineering Dimension Com, Aljomaih Energy and Water Company,

Albwani Water and Power, and the Red Sea Gateway Terminal (RSGT) — and a Bangladeshi side led by Economic Relations Division (ERD) Secretary Monowar Ahmed held six technical talks in Dhaka on Wednesday. 

Faisal Zahur, senior assistant chief of ERD’s Middle East wing, told Arab News that the Saudi delegation was analyzing a draft agreement that would be ready to sign on Thursday.

“The JEC meeting was heavily dominated by investment issues mainly in the power and energy sector of Bangladesh. We have prepared a draft agreement which will be inked on Thursday by both sides,” he said, adding that other matters pertaining to the welfare of Bangladeshi workers in the Kingdom were also discussed.

“The Saudi authorities were asked to resolve passport issues for Bangladeshi migrants who are facing trouble in the Kingdom due to expired passports,” Zahur said, adding that while investments worth $30 billion were on the charts, the amount could be more. 

“Saudi investors are ready to invest any amount in Bangladesh but it depends on how much the country can consume,” he said.

Mohammad Sirazul Islam, executive chairman of the Bangladesh Investment Development Authority (BIDA), told Arab News that Saudi Arabia is an ideal partner.

“We are very keen to have Saudi investors here in Bangladesh because they have huge investment capacity. Our focus is to bring in large investors who will invest several hundred million or billion (dollars),” he said.

Islam added that both government-to-business and business-to-business investments had been discussed on Wednesday, with most of the investment in the private sector tilting towards joint ventures.

“Engineering Dimensions, a giant transformer producer in the Kingdom, has already started a joint venture with a Bangladeshi state-owned company,” he said. “Now, discussions are underway about tax benefits and other relevant issues, which are expected to be settled very soon.”


Russia, Ukraine each swap 95 prisoners of war, Russian Defense Ministry says

Updated 3 sec ago
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Russia, Ukraine each swap 95 prisoners of war, Russian Defense Ministry says

The returning Russian service members were undergoing medical checks in Belarus
There was no immediate word of the exchange from Ukrainian authorities

MOSCOW: Russia and Ukraine each swapped 95 prisoners of war on Friday in an agreement completed with the help of the United Arab Emirates acting as mediator, the Russian Defense Ministry said.
The ministry, in a post on the Telegram messaging app, said the returning Russian service members were undergoing medical checks in Belarus, one of Russia’s closest allies in the more than 2-1/2-year-old war.
There was no immediate word of the exchange from Ukrainian authorities.
A private Russian group which says it looks after the interests of prisoners of war published a list of returnees and said most of those being brought home were captured in the Kursk region, where Ukrainian forces staged an incursion in August.
Those forces remain in Kursk, though Russia’s military says its forces have clawed back some of the captured territory.
Ukrainian officials gave no immediate confirmation of the swap.
The last swap — involving 103 prisoners from both sides — took place in September.
The Ukrainian state body looking after the interests of prisoners of war said that was the 57th exchange conducted since Russia’s February 2022 full-scale invasion.

Trial of Salman Rushdie’s assailant will remain in the New York county where the stabbing happened

Updated 32 min 37 sec ago
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Trial of Salman Rushdie’s assailant will remain in the New York county where the stabbing happened

  • Hadi Matar’s trial was put on hold days before the scheduled Oct. 15 start of jury selection, pending a decision by the Rochester court
  • A new trial date was not immediately set

NEW YORK: An appellate court on Friday denied a request to move the trial of the New Jersey man charged with attacking author Salman Rushdie with a knife in 2022, clearing the way for the trial to move forward in the western New York county where the stabbing occurred.
Hadi Matar’s trial was put on hold days before the scheduled Oct. 15 start of jury selection, pending a decision by the Rochester court. A new trial date was not immediately set.
Matar’s attorney, Nathaniel Barone, argued that Matar would not receive a fair trial in Chautauqua County because of extensive publicity and the lack of an Arab American community in the county whose population is 93 percent white. District Attorney Jason Schmidt opposed the move.
Matar, 26, is accused of running onto the stage at the Chautauqua Institution as Rushdie was about to speak and stabbing him more than a dozen times until being subdued by onlookers.
The “Satanic Verses” author was severely injured, including being blinded in one eye. The event’s moderator, Henry Reese, was also wounded.
Matar has pleaded not guilty to attempted murder and assault.
He also has pleaded not guilty to related terrorism charges in US District Court in Buffalo.


German leader to discuss migrants, Middle East crisis on Turkiye visit

German Chancellor Olaf Scholz. (AFP)
Updated 18 October 2024
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German leader to discuss migrants, Middle East crisis on Turkiye visit

  • Ankara ‘expects Berlin to suspend restrictions on defense sales,’ analyst says

ISTANBUL: German Chancellor Olaf Scholz visits Turkiye on Saturday for talks with President Recep Tayyip Erdogan on the escalating Middle East crisis and migration, while Ankara hopes to speed up the purchase of Eurofighter jets.

Scholz, who last visited in March 2022 a few months after taking office, will meet President Erdogan in Istanbul.
Last week, German officials said the Ukraine war, the Middle East conflict, and migration would be the main focus of the visit.
Turkiye’s relations with Germany — home to Europe’s largest Turkish diaspora of some 3 million people — are sensitive and Berlin has voiced concerns over the state of human rights and democracy under Erdogan.
The outbreak of the Israel-Hamas war in Gaza has further strained ties.

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Turkiye’s relations with Germany — home to Europe’s largest Turkish diaspora of some 3 million people — are sensitive.

Erdogan has long been a fierce critic of Israel’s year-long military campaign in Gaza and its recent deadly push into Lebanon, comparing Israel’s Prime Minister Benjamin Netanyahu to Adolf Hitler.
But Berlin is a strong supporter of Israel and has defended its right to self-defense, while increasingly calling for restraint.
When Erdogan visited Germany last year, he traded barbs with Scholz over the conflict.
“The first, second, and third item on Scholz’s agenda is likely to be refugee cooperation as anti-refugee sentiment is rising throughout Europe,” said Ozgur Unluhisarcikli of the German Marshall Fund, a US think tank.
Scholz’s government has been under heightened pressure over the issue after a series of violent crimes and extremist attacks committed by asylum seekers.
Last month, Berlin said it had agreed on a plan with Ankara to step up its deportations of Turkish failed asylum seekers — only for Turkiye to deny any such deal had been struck swiftly.
Even so, immigration was likely a topic where both states “will be on the same page,” said Deniz Sert, an international relations professor at Istanbul’s Ozyegin University.
“Both will argue they have the right and obligation to protect order within their borders and that irregular migrants are the threat,” she said.
Turkiye will also expect progress on its plans to buy 40 Eurofighter Typhoons, notably in the wake of America’s delayed delivery of F-16 warplanes greenlit earlier this year.
Last year, Ankara said it was keen to acquire Eurofighter jets built by a four-nation consortium, including Germany.
However, talks have been slow, mainly because of Berlin’s opposition to Turkiye’s stance on the Gaza conflict.
Any consortium member, including Britain, Italy, and Spain, can veto a deal.
“The biggest obstacle to the sale of the jets is Germany’s Israel policy,” a Turkish source said.
However, things have progressed in recent months, with the source pointing to “positive developments,” although an agreement was not imminent on Saturday.
“Ankara expects Berlin to suspend its restrictions on defense sales and greenlight Eurofighter sales to Turkiye,” Unluhisarcikli said.
Ozgur Eksi, editor-in-chief for the TurDef.com defense news website, said Berlin was initially concerned Turkiye could use the jets against outlawed Kurdish militants in the southeast or in Syria.
“Do the same concerns remain in place? Yes, but other issues, including security, have gained weight, especially after Turkiye lifted its veto on Sweden’s NATO membership,” he said.
With Russia’s war in Ukraine, there are concerns in the West about the consequences of Turkiye getting closer to Moscow, which Berlin is keen to avoid, Eksi said.
Turkiye has sought balance in its ties with Russia and Ukraine since the outbreak of the Kremlin’s invasion, sending drones to Kyiv but also pulling away from Western-led sanctions on Moscow.

 


NATO would need to agree conditions for Ukraine invitation, Dutch minister says

Updated 18 October 2024
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NATO would need to agree conditions for Ukraine invitation, Dutch minister says

  • NATO has declared that Ukraine will become a member of the alliance one day but also said Kyiv cannot join while at war
  • Brekelmans, whose country is among NATO’s 32 members, said there were “very different opinions” in the alliance on the issue

BRUSSELS: NATO countries will need to discuss conditions for Ukraine to get a membership invitation and to join the alliance in response to President Volodymyr Zelensky’s “victory plan,” Dutch Defense Minister Ruben Brekelmans said on Friday.
Zelensky presented the five-point plan publicly for the first time this week, including a call for an immediate NATO invitation to make clear to Russian President Vladimir Putin that Moscow’s invasion would end with geopolitical defeat.
NATO has declared that Ukraine will become a member of the alliance one day but also said Kyiv cannot join while at war, as that could lead to a direct conflict between NATO and Russia.
Alliance leaders have so far avoided a direct response to Zelensky’s new push for an invitation.
Brekelmans, whose country is among NATO’s 32 members, said there were “very different opinions” in the alliance on the issue.
To reach the necessary consensus, he said, allies would need to agree clear criteria that Ukraine would need to meet to get an invitation and others required to later become a member.
“If you don’t have that clarity upfront, I don’t see (that) 32 allies agree to granting an invitation,” he told reporters after a meeting of NATO defense ministers in Brussels.
Asked what conditions Ukraine might need to meet, Brekelmans cited fighting corruption.
“If you want to modernize the Ukrainian armed forces, and have involvement of other countries, then I can imagine that you also want to assess the progress that Ukrainians make on that dimension,” he said.


UK’s Starmer says death of Hamas chief is ‘opportunity’ for ceasefire

Updated 18 October 2024
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UK’s Starmer says death of Hamas chief is ‘opportunity’ for ceasefire

  • “I do think the death of Sinwar provides an opportunity for a step toward that ceasefire that we’ve long called for,” Starmer said
  • Starmer added that “allies will keep working together to de-escalate across the region because we know there’s no military-only solution here — the answer is diplomacy“

BERLIN: The killing by Israel of Hamas leader Yahya Sinwar could help bring an end to fighting in the Gaza Strip, UK Prime Minister Keir Starmer said during a visit to Berlin on Friday.
Sinwar, who mastermind the Palestinian militant group’s attack on Israel on October 7 last year, was killed by the Israeli military in southern Gaza’s Rafah on Wednesday.
“I do think the death of Sinwar provides an opportunity for a step toward that ceasefire that we’ve long called for,” Starmer said after talks with German Chancellor Olaf Scholz, US President Joe Biden and France’s President Emmanuel Macron.
The comments echo those of Biden, who said Sinwar’s death was “an opportunity to seek a path to peace, a better future in Gaza without Hamas.”
Starmer added that “allies will keep working together to de-escalate across the region because we know there’s no military-only solution here — the answer is diplomacy.”
He also said that the “dire humanitarian situation can’t continue” in Gaza and called for Israel to facilitate the delivery of more aid to the Strip.
“The world will not tolerate any more excuses on humanitarian assistance. Civilians in northern Gaza need food now,” said Starmer, a human rights lawyer before going into politics.
The comments came as Britain’s Disaster Emergency Committee (DEC) said a urgent appeal for funds for citizens in Gaza, Lebanon and the occupied West Bank had raised £8.8 million ($11.5 million) in the first day.
The DEC brings together 15 leading charities, including Oxfam and ActionAid, to launch national appeals at times of crisis overseas.
It said in a statement that Britain’s head of state, King Charles III, and his wife Camilla “were among the first to donate” to the latest appeal.