Daily Archives: January 6, 2019

الكويت تطلب من دبي الإفراج عن نصف مليار دولار لصندوق الإستثمارات الخاصة والمجمدة لأكثر من عام في نزاع طويل الأمد.

واشنطن – 6 يناير 2019: / بي آر نيوزواير / —  أعلن صندوق الموانئ اليوم أن الكويت قد انضمت إلى جهوده التي إستمرت منذ عام لاسترداد مبلغ 496 مليون دولار أمريكي من أموال المستثمرين والذي تم التحفظ عليه في دبي.https://prnewswire2-a.akamaihd.net/p/1893751/sp/189375100/thumbnail/entry_id/1_arrlcw8a/def_height/95/def_width/297/version/100011/type/1

طلبت دولة الكويت رسمياً من دبي فك تجميد وإعادة الأموال إلى “صندوق الموانئ” للإستثمارات الخاصة، الذي سيقوم بتوزيع الأموال على المستثمرين وغيرهم من أصحاب المصلحة الدوليين والأمريكيين. قام صندوق الموانئ في نوفمبر 2017 ببيع آخر إستثماراته وتحويل مبلغ 496 مليون دولار أمريكي إلى الحساب المصرفي لشريكه العام، بورت لينك جي بي المحدودة، لدى بنك نور في دبي، حيث تم حينها تجميد الأموال بدون أي سبب.

وفي الرسالة المؤرخة في 30 ديسمبر 2018، كتب النائب العام الكويتي المستشار ضرار العسعوسي إلى النائب العام في دبي المستشار عصام عيسى الحميدان يطلب فيها “رفع التحفظ [عن الأموال] … وتمكين الشركة صاحبة الحساب من تحويل وتوزيع المبلغ المذكور [496 مليون دولار أمريكي]”.

فبعد أن قامت دبي منذ عدة أشهر التحقق من مشروعية وصحة الأموال وخلوها من أية مخاوف قانونية، بقيت حكومة الكويت – أكبر مستثمر في صندوق الموانئ – الجهة الوحيدة التي لم توافق على الإفراج عن الأموال. والآن وبعد أن رفعت الكويت تحفظها عن الأموال، يتوقع صندوق الموانئ الإفراج الفوري عن الأموال وإيداعها في حسابه لدى بنك نور.

وصرح مارك وليامز، مدير الاستثمار في صندوق الموانئ: “يسرنا أن الكويت ودبي قد أدركتا الطبيعة القانونية للإدارة الناجحة لصندوق الموانئ”. وأضاف قائلا: “نحن حريصون على توزيع الأموال على مستثمرينا وقد قمنا بالفعل بتزويد بنك نور بتعليمات التحويل لضمان عدم حدوث أي تأخير في الدفعات. نحن نشكر مستثمرينا وأصحاب المصلحة على صبرهم وثقتهم في فريق إدارتنا حيث أقتربنا من الوصول إلى نهاية ناجحة”.                   

الشعار: https://mma.prnewswire.com/media/803918/HB_Fuller_Logo.jpg

Kuwait Requests Dubai Release Half-Billion Dollars in Private Equity Funds Frozen for Over a Year in a Long-Running Dispute

WASHINGTON, Jan. 6, 2019 /PRNewswire/ — The Port Fund today announced that Kuwait has joined its year-long effort to recoup $496 million of investor funds that have been held in Dubai.

Port Fund Logo

The State of Kuwait has formally requested that Dubai unfreeze and return the money to The Port Fund, a private equity fund, which will then distribute the money to its investors and other international and U.S. stakeholders.  After selling its last investment in November 2017, The Port Fund wired $496 million to the bank account of its general partner, Port Link GP Ltd., at Noor Bank in Dubai, at which point the money was frozen without cause.

In a letter dated December 30, 2018, Kuwait Attorney General Dherar Al-Asousi wrote to Dubai Attorney General Essam Issa Al Humaidan requesting “to remove the hold [on the funds] … and enable the account holder company to transfer and distribute the mentioned amount [$496 million].”

Dubai cleared the funds of any legal concerns months ago, leaving Kuwait – the largest investor in The Port Fund – as the only government that had not yet approved the release of the funds.  Now that Kuwait has lifted its hold, The Port Fund anticipates the immediate transfer of the money to its account at Noor Bank.

“We are pleased that both Kuwait and Dubai have recognized the lawful nature of our successful management of The Port Fund,” said Mark Williams, investment director of the fund. “We are eager to distribute these funds to our investors and have already provided Noor Bank with wiring instructions to ensure there is no delay in these payments. We thank our investors and stakeholders for their patience and trust in our management team as we bring this matter to a successful conclusion.”

Logo – https://mma.prnewswire.com/media/804491/The_Port_Fund_Logo.jpg

Work begins on 40 UAE PAP-sponsored projects in Pakistan.

Work has started on Phase III of the UAE Pakistan Assistance Program, UAE PAP, consisting of 40 projects implemented at a total cost of AED736 million (US$ 200 million), funded by the Abu Dhabi Fund for Development, ADFD.

The program is being implemented in line with the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, with the support of Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces and the follow-up of H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, to provide humanitarian aid to Pakistan.

The UAE PAP announced that the projects will cover five main development areas that include roads, education, healthcare, water and agriculture, in addition to food assistance to the poor families and displaced people, as well anti-polio vaccination campaigns.

The projects to be executed include a 42-kilometre Khyber-Pakhtunkhwa highway, a 65-kilometre highway in Baluchistan province, construction of one college and two schools for 1,500 students in Baluchistan, and construction and fitting of a heart hospital in Quetta.

Some 29 projects will be dedicated to supplying water to villages and cities with little access to clean drinking water. The projects will also include construction of the first dates factory in Pakistan to help farmers with developing and marketing their products.

The UAE PAP’s mission is to execute development aid projects that offer sustainability and continuous benefits to beneficiaries over the long run. The program’s first and second phases saw a total of 165 projects being implemented between 2011 and 2017, at a total cost of AED1.5 billion ($420 million).

The four infrastructure projects completed at a total cost of AED447.4 million ($121 million), include the 50-kilometre Sheikh Khalifa bin Zayed Al Nahyan Road, the 72-kilometre Pak-Emirates Friendship Road, the Sheikh Khalifa bin Zayed Al Nahyan Bridge and the Sheikh Zayed bin Sultan Al Nahyan Bridge.

As per the directives of President His Highness Sheikh Khalifa, UAE PAP constructed four road and bridge projects worth $121 million, which included the reconstruction of two flood-destroyed bridges on Swat River and two new roads in southern and northern Waziristan. These are amongst the most vital projects with regard to the development of infrastructure in remote areas in Pakistan. They also help in the social, economic, educational and health development there.

In education, UAE PAP took the initiative to help Pakistan by building and equipping 60 educational projects, costing AED152.7 million ($41.5 million) according to international standards and build proper facilities for students to study in a convenient environment.

UAE PAP-sponsored health projects were the top priority in their humanitarian plans/efforts to support the Pakistani health sector, especially in distant areas which lacked basic and vital services. These include rehabilitating seven hospitals, clinics and medical institutes outfitted with up-to-date medical equipment, providing healthcare in flood-affected areas of Swat, Bajaur, and Dir, and building four hospitals in South Waziristan.

Source: UAE Ministry of Foreign Affairs

Colombian President receives credentials of new UAE Ambassador.

Colombian President Ivan Duque Marquez has received the credentials of Salem Rashid Al Owais, as UAE’s Ambassador to Colombia.

The Ambassador conveyed the greetings of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to the Colombian President, and their wishes for further development and prosperity to the government and people of Colombia.

President Duque, in turn, conveyed his greetings to the UAE leaders, also wishing them success and prosperity, and the new ambassador success in carrying out his duties.

Source: UAE Ministry of Foreign Affairs

India celebrates Emirati culture at New Delhi World Book Fair 2019.

The falling temperatures in New Delhi had no effect on the warmth and hospitality extended to Sharjah, as the guest of honour of the 27th New Delhi World Book Fair, NDWBF 2019, by the fair organizers, National Book Trust, NBT, and other local dignitaries in attendance at the opening ceremony today.

Members of the Sharjah delegation comprising representatives from all entities of Sharjah’s cultural program at NDWBF 2019 were represented on stage by Sheikh Fahim bin Sultan Al Qasimi, Executive Chairman of the Department of Government Relations, who is heading this delegation, and Ahmed bin Rakkad Al Ameri, Chairman of Sharjah Book Authority, SBA; and renowned Emirati author, Habib Yousef Abdullah Al Sayegh.

They were welcomed by senior Indian officials and cultural representatives, Prakash Javadekar, Union Minister for Human Resource Development, Govt. of India; Baldev Bhai Sharma, Chairman, NBT; R. Subramaniam, Secretary, Higher Education, Ministry of Human Resource Development; and Deepak Kumar, Executive Director, India Trade Promotion Organization (ITPO), and felicitated with several NBT publications, mementos and traditional shawls.

English and Hindi translations of one of the most renowned works by H.H. Dr. Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, Baby Fatima and the King’s Sons, published by NBT, were released by the trust at the opening ceremony and presented to officials from Sharjah.

Stressing on the long history of friendship and flourishing cultural relations between the two nations, Sheikh Fahim remarked, “Being amongst you all at the New Delhi World Book Fair, a major calendar event in the publishing world, I know we have come a long way in realizing the Sharjah Ruler’s vision of bringing cultures together through books and knowledge exchange. I thank National Book Trust for offering us the ‘guest of honour’ privilege, recognizing Sharjah’s leading role in the Arab region’s cultural renaissance. We are excited to turn this opportunity into a memorable literary and cultural feast straight from the heart of Sharjah and the UAE, for all of the book fair’s participants and visitors.”

“The most inspiring success stories are written by countries who celebrate diversity, respect opposing opinions and make the most of each other’s expertise. In facilitating these exchanges, the importance of book fairs cannot be overemphasized. I am extremely proud to announce that President His Highness Sheikh Khalifa bin Zayed Al Nahyan, has declared 2019 to be the ‘Year of Tolerance’, which will further embolden our role in promoting multiculturalism as an enabler of stability and prosperity across all nations in the world,” he added mentioning the two million Indian expatriates who have made the UAE and Sharjah their second home.

Expressing his delight at Sharjah’s participation at NDWBF 2019, the NBT Chairman said in his welcome note, “We are deeply honoured to welcome this year’s special guest, Sharjah. I thank the honourable senior officials present here on stage as well as the entire Sharjah delegation comprising authors, literary experts, poets and leading cultural entities, to have made their long journey to be part of our celebration of books, culture, and knowledge � the pillars of human development, peace and continued progress.”

“Due to the ongoing refurbishment works at the original fair venues, we have faced several challenges with both organization and space, but despite it all, we have been able to put up a wonderful show due to the unconditional support offered to us by everyone. Sharjah’s participation is going to be savoured by book lovers and cultural enthusiasts from all over India and the region. The last edition welcomed 1.2 million visitors, a number I am certain will be surpassed this year because the love for books in Indian hearts will never fade,” he added.

Baldev Sharma revealed that more than 25 different regional Indian and international languages are contained within books available at the stalls that have been brought to attract regional language readers from the smaller districts and interiors of the nation. This effort he said has been furthered by Sharjah which has brought Hindi translations of 57 Arabic language books by Emirati and Arab authors.

Prakash Javadekar emphasized the importance of book fairs saying life is incomplete without books and culture. “Reading is integral to human development, something clear in the way Sharjah has been leading their socioeconomic development and community welfare. The real friendship and partnership between India the UAE, Sharjah particularly, is exhibited in the emirate’s participation and our joint effort that has gone into the organization of this important literary event.”

“When television entered homes, books felt threatened. A few years later, Kindle came into fashion, and we thought books will no longer be bought or read. But, no matter how technology progresses or reading habits change, books will always remain at the center of the promotion of culture and knowledge.”

Running until 13th January, 2019, the NDWBF 2019 theme is “Books for Readers with Special Needs”. Over 1,350 exhibits, 20 countries and 650 publishers, are on display at the fair.

Source: UAE Ministry of Foreign Affairs

UAE delivers 371 million polio vaccines to Pakistani children.

The UAE has provided over 371.1 million units of polio vaccines to more than 57 million Pakistani children between 2014 and December 2018, through its anti-polio drive in the country, under the UAE-Pakistan Assistance Programme, UAE-PAP.

The UAE-PAP was launched under the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.

The campaign is part of the efforts to eradicate polio in the world and reflects the UAE leadership’s keenness to strengthen global efforts to reduce the spread of epidemics and prevent their impact on children.

His Highness Shaikh Mohammad bin Zayed donated $167 million (AED613.31 million) for the efforts aimed at eradicating poliomyelitis and the provision of vaccines for children, especially in Pakistan and Afghanistan.

Abdullah Khalifa Al Ghafli, Director of UAE-PAP, said the campaign administered 254.4 million doses of vaccines between 2014 and 2017 to 43 million Pakistani children. The geographical coverage of the campaign expanded in the past years to include 83 areas in four provinces of Pakistan, he added.

Al Ghafli praised the support provided by the Bill and Melinda Gates Foundation for the UAE’s campaign and its strategic partnership with His Highness Sheikh Mohamed’s initiative to eradicate poliomyelitis worldwide through funding and providing assistance in a number of areas.

The campaign is being implemented in various regions of Pakistan with the support of more than 96,000 workers including doctors and nurses and more than 25,000 members of safety and security, management and coordination teams.

Source: UAE Ministry of Foreign Affairs

UAE delivers 371 million polio vaccines to Pakistani children.

The UAE has provided over 371.1 million units of polio vaccines to more than 57 million Pakistani children between 2014 and December 2018, through its anti-polio drive in the country, under the UAE-Pakistan Assistance Programme, UAE-PAP.

The UAE-PAP was launched under the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.

The campaign is part of the efforts to eradicate polio in the world and reflects the UAE leadership’s keenness to strengthen global efforts to reduce the spread of epidemics and prevent their impact on children.

His Highness Shaikh Mohammad bin Zayed donated $167 million (AED613.31 million) for the efforts aimed at eradicating poliomyelitis and the provision of vaccines for children, especially in Pakistan and Afghanistan.

Abdullah Khalifa Al Ghafli, Director of UAE-PAP, said the campaign administered 254.4 million doses of vaccines between 2014 and 2017 to 43 million Pakistani children. The geographical coverage of the campaign expanded in the past years to include 83 areas in four provinces of Pakistan, he added.

Al Ghafli praised the support provided by the Bill and Melinda Gates Foundation for the UAE’s campaign and its strategic partnership with His Highness Sheikh Mohamed’s initiative to eradicate poliomyelitis worldwide through funding and providing assistance in a number of areas.

The campaign is being implemented in various regions of Pakistan with the support of more than 96,000 workers including doctors and nurses and more than 25,000 members of safety and security, management and coordination teams.

Source: UAE Ministry of Foreign Affairs