Latest news with #Saudi-AmericanInvestmentForum
See - Sada Elbalad
a day ago
- Business
- See - Sada Elbalad
Scenes of Sports Diplomacy in Trump's Gulf Tour
Mohamed Mahmoud Abdelwahab The visit of the President of the United States to the Gulf region in mid-May was not traditional; Trump is an exceptional figure, and the version of his second term differs greatly from the first, as he does not care much for diplomatic norms and their boundaries. How could he commit to them if even geographic boundaries do not constrain his economic and investment visions? Talking about annexing Canada to the United States reveals much about his political and economic propositions inside and outside the United States. And if Trump's statements often involve intimidating rhetoric and rough diplomacy, can he be imagined to believe in the importance of soft power in enhancing the state's image and its foreign relations? Does he realize that public diplomacy might contribute to improving political communication between leaders? And can his administration succeed in using the hosting of international sports events, such as the Club World Cup next June and the joint hosting of the 2026 World Cup, to improve relations with neighboring countries like Canada and Mexico? Despite all these questions, the evidence points to an exceptional diplomatic pattern that may evolve into a new school in international relations attributed to Trump , who is eager to achieve accomplishments credited to him. This is in addition to what the first five months of his second term have shown, whether in superiority diplomacy (as seen in his conversation with the President of South Africa at the White House), acquisition diplomacy (such as the mineral deal with Ukraine), and other features that characterize his handling of foreign policy files, although he has some ideas about developing sports and sports investment, and he has good relations with athletes. And due to Trump's lack of conviction in the value of traditional tools for implementing his foreign policies and his preference to rely on advisors and influential economic figures — who accompanied him on his first foreign tour, along with the presence of the FIFA president in two stops of the tour — it is important to pause at some scenes of sports diplomacy during his visit to Gulf countries, as football and sports investment are among the most prominent images of public diplomacy. Especially considering that, despite the presence of the FIFA president among the delegation of investors and CEOs accompanying Trump, and Infantino's pride in participating in a tour full of historic agreements, he faced sharp criticism from members of the FIFA Congress — especially the Europeans — for being late to the Congress meeting in Paraguay, considering his visits to Riyadh and Doha as coming at the expense of official obligations and favoring his personal ambitions. Thus, even sports are not free from political calculations at the level of federations. Scene One: During his participation in the Saudi-American Investment Forum, in the session titled 'The Road to 2034… Partnerships and Progress Towards the World Cup in Saudi Arabia', Infantino affirmed in his speech that Saudi Arabia is one of the world's leading investors in football and that its hosting of the World Cup is a pivotal moment in the history of the world's most popular game. He added that football represents a massive economy, with its related global GDP estimated at about $270 billion annually. Scene Two: The Emir of Qatar presented Trump with the official ball of the 2022 World Cup, enhancing the role of sports diplomacy in strengthening ties between peoples and countries and showing the position of football in the political and diplomatic arena. Qatar has a successful model in sponsoring European competitions, and Paris Saint-Germain's Champions League title supports that investment which began years ago. Scene Three: The conversation that took place in Abu Dhabi between Trump and Khaldoon Al Mubarak, Chairman of City Group, which addressed the preparations for the opening of the New York City stadium before the 2028 Olympics. Trump showed clear interest in the conversation, which highlights how sports diplomacy contributes to supporting countries' infrastructure, noting that City Group, backed by the Mubadala investment fund, has interests in European and Latin American countries. These scenes reflect the development of the relationship between sport and investment. It is no longer limited to club acquisitions, but now includes integrated systems involving teams, stadiums, and brand names. The Russian model in Chelsea, followed by the entry of Chinese investors and the Arab investment that began with Mohamed Al-Fayed entering the field of investing in English clubs — all these moves developed rapidly. Sports investment has become more complex and interconnected both locally and internationally. In conclusion, Trump's visit to Riyadh, Doha, and Abu Dhabi draws new features of the intersection between sports, economy, and politics, and affirms the importance of sports diplomacy, which is gaining increasing interest from world leaders as an effective tool to present soft power and strengthen ties between countries beyond the traditional constraints of politics. Gulf countries are among the most prominent models in employing sports to enhance their foreign interests. read more Analysis- Turkey Has 0 Regional Allies... Why? Analysis: Russia, Turkey... Libya in Return For Syria? Analysis: Who Will Gain Trump's Peace Plan Fruits? Analysis: Will Turkey's Erdogan Resort to Snap Election? Analysis: What Are Turkey's Aspirations in Iraq? Opinion & Analysis Analysis: Mercenaries In Libya... Who Should Be Blamed? Opinion & Analysis Analysis- How 'Libya Nightmare' Takes Erdogan to Algiers Opinion & Analysis Analysis: What Happens After Brexit? Opinion & Analysis Analysis: Strategic Significance of Libya's Sirte, Jufra! News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks News Shell Unveils Cost-Cutting, LNG Growth Plan Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream
Daily News Egypt
24-05-2025
- Business
- Daily News Egypt
US eases Syria sanctions; Damascus welcomes move
The United States administration under President Donald Trump on Friday granted Syria comprehensive exemptions from US sanctions, a development aimed at fulfilling a pledge to lift decades-old restrictions on the country, which has experienced conflict for more than 14 years. The Syrian government in Damascus welcomed the decision, describing it as an initial phase in implementing President Trump's commitment to lift sanctions. This commitment was reportedly made at the Saudi-American Investment Forum in Riyadh approximately two weeks prior. Damascus stated the move was 'a step towards alleviating the humanitarian and economic suffering' of the Syrian people. A directive from the US State Department on Friday nullified a range of stringent sanctions imposed by Congress in 2019. It also suspended, for a period of six months, a US Treasury Department measure that applied sanctions to any individual or entity dealing with a specified group of Syrian individuals and entities, including the Syrian Central Bank. Details of Six-Month Exemptions and Sanctions Lifted In a related move, the US Treasury Department announced the lifting of sanctions on Syrian President Ahmed al-Shara and his Interior Minister Anas al-Khattab. This followed the issuance of General Licence No. 25 (GL 25), which provides for the immediate easing of sanctions on Damascus and permits previously prohibited transactions. The licence, issued by the Treasury's Office of Foreign Assets Control (OFAC), specifically lifts sanctions on the Syrian Central Bank, Syrian Arab Airlines, the Radio and Television General Organisation, and the ports of Latakia and Tartous, alongside other individuals and entities. General Licence 25 was issued to provide immediate sanctions relief, consistent with President Trump's declaration to cease all sanctions imposed on Damascus. A US Treasury Department statement indicated that GL 25 authorises transactions previously barred under Syrian sanctions regulations, effectively lifting these sanctions. It also aims to stimulate new investments and private sector activity, which is in line with President Trump's 'America First' strategy. US Secretary of State Marco Rubio said in a statement that he had 'issued a 180-day waiver from sanctions imposed on Syria under the Caesar Act to ensure that sanctions do not hinder investments and to facilitate the provision of electricity, energy, water, healthcare, and humanitarian relief efforts.' Rubio added, 'Today's moves represent the first step in realizing the President's vision for a new relationship between Syria and the United States,' noting that Trump 'made it clear that he expects that the easing of sanctions will be followed by action from the Syrian government.' These developments coincided with Washington's announcement that Thomas Barrack, US Ambassador to Turkey, assumed the role of Special Envoy to Syria on Friday. Background on US Sanctions Policy US sanctions on Syria have historically been multifaceted, encompassing legislation passed by Congress, executive orders from the President, measures imposed by the Treasury Department in consultation with the State Department, and prohibitions on non-humanitarian trade between Damascus and Washington. Additional sanctions were aimed at deterring third countries from engaging in business with Syria. Sanctions on the Syrian Central Bank reportedly persisted even after the fall of former President Bashar al-Assad's regime. These measures prevented the Syrian financial system from accessing global banking networks and hindered efforts to revive the Syrian economy through international financial channels. Congressional sanctions, notably the 'Caesar Act,' were designed to isolate Syria's former leadership by barring anyone conducting commercial transactions with them from the global financial system. These sanctions also specifically impede post-war reconstruction. While they can be waived for 180 days via executive order, the Associated Press reported they could likely be reimposed after six months. Economic Reconstruction and Conditions for Further Relief The new US licence encompasses the lifting of sanctions on the Commercial Bank of Syria, the Syrian Gas Company, and the Syrian Petroleum Company, in addition to the General Organisation of Radio and Television, the General Company for the Port of Latakia, and numerous banking and logistical institutions. The Treasury stated that this authorisation is intended to support the reconstruction of the Syrian economy, its financial sector, and infrastructure, in line with US foreign policy objectives. Attracting new investment to Syria and supporting the new Syrian government are deemed essential for this purpose, with GL 25 facilitating previously restricted economic activities. According to Associated Press, the US State Department last week outlined a three-stage roadmap for further sanctions relief. This begins with an initial temporary and partial easing, contingent upon Syria meeting comprehensive conditions for any future, more permanent, easing or lifting of sanctions. Conditions for reaching the second stage include the removal of Palestinian factions from Syria, the new government assuming control of detention centres holding 'ISIS' fighters, and the integration of the US-backed Kurdish force (Syrian Democratic Forces, 'SDF') into the Syrian army. To reach the third stage, the US administration requires Syria to join the Abraham Accords, normalising relations with Israel, and to provide evidence of the destruction of chemical weapons allegedly possessed by former President Bashar al-Assad's regime. Syrian Government Reaction On Saturday, the Syrian Foreign Ministry formally welcomed the US government's decision. In a statement published on its 'X' (formerly Twitter) platform account, the Ministry acknowledged the 'issuance of an exemption from mandatory sanctions under the Caesar Act and the circulation of General License No. 25 concerning Syria (GL 25).' It described the decision as 'a positive step in the right direction to alleviate the humanitarian and economic suffering in the country.' The Ministry affirmed that Damascus 'extends its hand to all who wish to cooperate on the basis of mutual respect and non-interference in internal affairs,' believing that 'dialogue and diplomacy are the best way to build balanced relations that achieve the interests of peoples and enhance security and stability in the region.' The statement continued: 'Syria also expresses its appreciation to all countries, institutions, and peoples that stood by it, and affirms that the next stage will be a stage of rebuilding what the former regime destroyed and restoring Syria's natural position in the region and the world.' Earlier this month, Syrian Foreign Minister Asaad al-Shaibani reported an agreement to form rapid technical teams following President Trump's sanctions-lifting announcement in Riyadh. European Union Considers Parallel Sanctions Review Following the US move, EU foreign policy chief Kaja Kallas last week proposed a further easing of European sanctions on Syria. This would allow funding for Syrian ministries in areas such as reconstruction and migration. A document dated 14 May, seen by Reuters, indicated the EU would permit member states to finance Syrian Ministries of Defence and Interior for cooperation on reconstruction, capacity building, counter-terrorism, and migration. A special clause would also grant EU member states greater flexibility in dealing with Syrian state-owned entities concerning the destruction of chemical weapons. The new EU proposal would lift sanctions on the Commercial Bank of Syria while maintaining measures against individuals linked to the former Assad administration. EU foreign ministers are scheduled to discuss relations with Damascus at a meeting in Brussels this week, including the potential lifting of sanctions on the Syrian Central Bank. Germany, Italy, the Netherlands, and Austria circulated a joint paper advocating for the removal of sanctions on the Syrian Central Bank and its financial institutions. 'The goal is to provide additional space for socio-economic recovery,' the four nations wrote. The EU has already eased some energy, transport, and reconstruction-related sanctions, along with associated financial transactions. However, certain member states are pushing for more extensive relief to facilitate Syria's transition process.
Saudi Gazette
13-05-2025
- Business
- Saudi Gazette
Al-Hoqail invites US investors to Saudi real estate sector
Saudi Gazette report RIYADH — Minister of Municipal and Rural Affairs and Housing Majed Al-Hoqail said that Saudi Arabia is experiencing an unprecedented urban transformation, thanks to Saudi Vision 2030. Attending a panel discussion at the Saudi-American Investment Forum in Riyadh on Tuesday, he said that the ministry is implementing more than 11,000 development projects spreading over 300 municipalities across various regions of the Kingdom. These include housing, infrastructure, and quality of life improvement projects. In an effort to strengthen international partnerships, Al-Hoqail extended an open invitation to American investors to enter the Saudi real estate sector, whether in development, facility management, smart city construction, or land reclamation within urban boundaries. He emphasized that the Kingdom is not only seeking funding but strategic partners who can contribute to designing sustainable solutions for the future of Saudi cities. He pointed out that the ministry is currently working on the redevelopment of three major cities within the Kingdom, in collaboration with more than 80 local private sector partners. Moreover, the ministry aims to expand these partnerships to include international investors, including globally experienced American companies. Al-Hoqail emphasized that reshaping Saudi cities to become smart, sustainable, and attractive has become an urgent necessity to accommodate the expected population growth in the next decade. He emphasized that urban development is not limited to physical infrastructure but also involves enhancing operational efficiency and the quality of services provided. Al-Hoqail highlighted that the homeownership rate has increased from 47 percent before the launch of Vision 2030 to over 60 percent at present, with the ministry aiming to reach 70 percent by 2030. He added that this transformation would not have been possible without a genuine partnership with the private sector and empowering citizens to own their first homes.
Iraqi News
13-05-2025
- Business
- Iraqi News
U.S. President Arrives in Riyadh for first major trip of second term
INA-sources U.S. President Donald Trump arrived in Riyadh on Tuesday to attend the Saudi-American Investment Forum, marking the start of a two-day visit before heading to Qatar and the United Arab Emirates. The forum, which opens Tuesday morning, is expected to draw senior executives from major American companies, alongside prominent Saudi ministers. Trump had previously announced plans to make Saudi Arabia his first foreign stop after taking office, but unforeseen circumstances forced a change in schedule. He is set to meet with Saudi Crown Prince Mohammed bin Salman to discuss a prior Saudi pledge to invest $600 billion in the United States over the next four years. Saudi Arabia, for its part, is seeking major U.S. investments to support its Vision 2030 initiative, which aims to diversify the kingdom's economy away from oil dependency.
