Latest news with #Yugoslav
Newsweek
6 hours ago
- Business
- Newsweek
Trump Business Booms Abroad Amid Ethics Questions
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. President Donald Trump's family business, The Trump Organization, has unveiled 12 new overseas projects since his victory in the November 2024 election, already surpassing the total number during his first term in office, The Wall Street Journal reported. The developments—primarily in Asia and the Middle East—include hotels, residential towers and golf courses, and the ramp-up in international deals comes as Trump and his family face renewed questions about potential conflicts of interest relating to business dealings abroad. "Everything President Trump does is to benefit the American people. In order to serve this country, President Trump gave up a life as one of the most successful businessmen in the world and a wildly successful media mogul," White House Communications Director Steven Cheung said in a statement shared with Newsweek. Newsweek reached out to The Trump Organization via email for comment. Eric Trump, executive vice president of The Trump Organization and the U.S. president's son, looks over the proposed plan ahead of a signing ceremony for a development deal with Qatar's Diar and Dar Global in... Eric Trump, executive vice president of The Trump Organization and the U.S. president's son, looks over the proposed plan ahead of a signing ceremony for a development deal with Qatar's Diar and Dar Global in Doha on April 30, 2025. More Karim Jaafar/AFP via Getty Images Why It Matters Trump's administration has faced persistent accusations that the president is eliciting private gain from his office through cryptocurrency ventures as well as his real estate business, now run by his two oldest sons. Watchdog groups and lawmakers have also voiced concerns that these arrangements could open the door to foreign influence over government policy, create real or perceived conflicts of interest while undermining trust in executive leadership and the integrity of American foreign policy. What To Know The Trump Organization, now overseen by Eric Trump and Donald Trump Jr., has announced 12 international real estate projects since Trump's November victory, according to the Journal, which said they are largely premised on a licensing model in which the company provides its branding and management services rather than making direct property investments. Ventures in the Persian Gulf region include a luxury resort in Qatar, a $2 billion cryptocurrency deal with a state-owned Abu Dhabi investment firm and a number of real estate projects in Saudi Arabia, including a Trump Tower in Riyadh. The organization has also announced five projects in India, including a 4.3-acre office complex and a 51-story residential tower. It is also involved in a proposal to lease government-owned land and repurpose the ruins of a Yugoslav defense ministry building in Belgrade, Serbia, into a luxury hotel. An unnamed representative of the president told the outlet that the 12 deals were under contract prior to Trump's 2024 victory. In January, The Trump Organization released an ethics white paper outlining how it would limit potential conflicts of interest during Trump's second term. It said that while the business would pursue deals with private companies abroad, a change from his first term, it would refrain from entering into new contracts with foreign governments during his presidency. However, the Journal reported that some of the 12 new ventures involve partnerships with state-linked entities. One such deal, struck in late April, is between The Trump Organization and Qatari Diar, a property investment company established and controlled by the Qatari Investment Authority, the country's sovereign wealth fund. The Trump Organization said the deal was with a Saudi Arabian partner, Dar Global, rather than Qatari Diar itself, though both were mentioned in announcements by company executives, AP reported. What People Are Saying Eric Trump, in an interview with The Wall Street Journal in October, said he was unsure what impact his father's victory would have on The Trump Organization: "Should I stop all expansion? I don't know what the answer is. I tried to do everything right in 2016 and I got very little credit for it. We still kind of got stomped on." Senator Chris Murphy, a Connecticut Democrat, in a recent debate: "The Trump Organization recently signed a $5.5 billion golf course and real estate deal with Dar Global and Qatar Diar, established by a wealth fund—$5.5 billion, while Trump's in office. It would have been unthinkable for any previous president to enter into a $5.5 billion business deal with anybody, never mind a foreign government, while they are in office. And it still should be unthinkable. "Qatar is a U.S. ally. It's a very important ally, but they are a complicated country. They have their own interests. A foreign government like Qatar should not have a $5 billion gift hanging over the head of a U.S. president." White House Communications Director Steven Cheung, in a statement shared with Newsweek: "These critics simply can't fathom a President doing the right thing for America, especially after Joe Biden and his family used their positions of power to enrich themselves with shady and crooked business deals." New York Times investigative reporter Eric Lipton told Democracy Now: "The Middle East is the nexus of The Trump Organization's global business operations at the moment. It's really their single most important profit center by far." Senator Elizabeth Warren, a Massachusetts Democrat, during a speech in late April: "When he ran for office, Trump promised repeatedly that he would lower costs on day one. Instead of following through on his promise, Trump and his administration have paved the way for the president, his top officials and his billionaire buddies to personally feed at the trough of government corruption." What Happens Next Despite the scrutiny Trump's business dealings have elicited, the company is pressing forward with its growing list of international projects. The 12 developments reported on by The Wall Street Journal are in addition to overseas deals for which The Trump Organization has broken ground in recent months, including a Trump-branded golf and residential development in Vietnam and a Trump International Hotel in Oman, scheduled for completion in 2028.
NDTV
3 days ago
- Entertainment
- NDTV
Kartik Aaryan Offers Glimpses From Trip To Vis Island In Croatia
Kartik Aaryan has chalked out the perfect plan to beat the summer heat. Wondering how? Well, the actor is cooling off by the beach during his trip to Vis Island in Croatia. The Chandu Champion star is soaking up the Mediterranean vibes and making us wish we could tag along too. Kartik treated his fans and followers to a photo dump from his travel diaries on Instagram. The carousel post offered a peek into his fun-filled day on the island. From sipping a drink by the beach and strolling through the island's charming streets to enjoying a seaside dinner and indulging in water adventures, the star is clearly living his best island life. In the caption, Kartik Aaryan wrote, "Vis Vibes." View this post on Instagram A post shared by KARTIK AARYAN (@kartikaaryan) Has Kartik Aaryan's post given wings to your wanderlust spirit? Here's everything you need to know about Vis Island before you hop onto the Croatia travel bandwagon: 1. Unspoiled beauty and charm Vis Island, the most remote inhabited island in Croatia, is known for its untouched natural beauty, rich history and relaxed pace of life. It is perfect for travellers seeking an off-the-beaten-path adventure and a taste of traditional Dalmatian culture. 2. Getting there Located beyond popular islands like Brac, Hvar and Solta, Vis lies about 45 kilometres from the mainland. The island is primarily accessible by ferry from Split, with a car ferry taking around 2 hours. High-speed ferries are also available to nearby Hvar on select days. 3. A hidden gem with a military past Vis was closed to the public for decades as it served as a strategic military base during the Yugoslav era after World War II. This secretive past adds a fascinating historical layer for those interested in exploring military relics and underground tunnels. 4. Wine, food and culture Vis has a strong fishing tradition and is also known for its local wine production. You can enjoy authentic Dalmatian cuisine and sample regional wines at cosy restaurants and family-run cellars across the island. 5. Peaceful and authentic stays Unlike Croatia's more commercialised destinations, Vis remains relatively undeveloped. You will find private houses and apartments instead of large hotels, making it an ideal spot for a peaceful, authentic island escape, even in the peak summer season.
Daily Tribune
17-05-2025
- Business
- Daily Tribune
Trump family hotel project in Serbia in doubt after forgery probe
The future of a luxury property development by Donald Trump's son-in-law in Belgrade has been thrown into doubt over suspicions that documents used to revoke the site's protected status were forged. Jared Kushner's Affinity Partners signed a 99-year land deal with the Serbian government last year to redevelop the former Yugoslav Army Headquarters, just months after its designation as a "cultural asset" was removed. No work has yet started at the site, which has not been rebuilt since it was bombed several times in 1999 during the NATO air campaign that ended the war in Kosovo. But on Tuesday, the prosecutor's office said it had opened an investigation into whether the document used by the government to revoke the building's protected status was forged. The head of Serbia's Institute for the Protection of Cultural Monuments, Goran Vasic, was arrested on suspicion of "forgery of an official document" and admitted the charge in court. He was given a restraining order barring him from contacting witnesses, the court told AFP in a statement on Friday. The government has so far kept tight-lipped about the case but President Aleksandar Vucic, at a European leaders' summit, denied "any halt to the project plans". "There was no forgery of any kind and we will discuss everything with everyone," he told a news conference in Tirana on Friday. But Kushner's company Affinity Partners told AFP they had played no role in the review of the site's cultural status and that the fate of the project was now unclear.
Yahoo
16-05-2025
- Politics
- Yahoo
Trump family hotel project in Serbia in doubt after forgery probe
The future of a luxury property development by Donald Trump's son-in-law in Belgrade has been thrown into doubt over suspicions that documents used to revoke the site's protected status were forged. Jared Kushner's Affinity Partners signed a 99-year land deal with the Serbian government last year to redevelop the former Yugoslav Army Headquarters, just months after its designation as a "cultural asset" was removed. No work has yet started at the site, which has not been rebuilt since it was bombed several times in 1999 during the NATO air campaign that ended the war in Kosovo. But on Tuesday, the prosecutor's office said it had opened an investigation into whether the document used by the government to revoke the building's protected status was forged. The head of Serbia's Institute for the Protection of Cultural Monuments, Goran Vasic, was arrested on suspicion of "forgery of an official document" and admitted the charge in court. He was given a restraining order barring him from contacting witnesses, the court told AFP in a statement on Friday. The government has so far kept tight-lipped about the case but President Aleksandar Vucic, at a European leaders' summit, denied "any halt to the project plans". "There was no forgery of any kind and we will discuss everything with everyone," he told a news conference in Tirana on Friday. But Kushner's company Affinity Partners told AFP they had played no role in the review of the site's cultural status and that the fate of the project was now unclear. - Opposition - The New York Times has reported that Kushner's $500 million plan involved turning the former army headquarters into a luxury hotel and 1,500 residential units. The Serbian government has said it would also include a memorial to the victims of the 1999 bombing, which still evokes strong feelings among Serbs -- and resentment to NATO -- today. The buildings, completed in 1965 and given protected status in 2005, were designed by Nikola Dobrovic as a brutalist homage to the Sutjeska River canyon, where the Partisans won a decisive battle against German forces in 1943. Respected Serbian architect Slobodan Maldini described the distinctive, red-bricked buildings, which cascade to street level, as "a monumental composition designed to evoke a strong sculptural impression". "It represents a leading work of post-war modernist architecture, not only in the former Yugoslavia but also more broadly in the region," he added. Maldini was one of 350 architects and engineers to call for the army headquarters to be restored to their former glory after the deal with Affinity Partners was signed. He said redevelopment would be a "loss of the finest architectural work of its kind" and the "damage caused by its demolition would be irreparable". oz-al/phz
Yahoo
15-05-2025
- Business
- Yahoo
Trump luxury hotel project on hold after official admits to forging documents
A $500m project to build Donald Trump's first Trump International Hotel in Europe could be in jeopardy, after a Serbian official admitted to forging a document to advance the development, according to a report. The president's son-in-law, Jared Kushner, who served in his first administration alongside his wife, Ivanka Trump, is seeking permission via his Miami-based property company, Affinity Partners, to build on a site in Belgrade where the remains of the old Yugoslav Ministry of Defense headquarters still stand. The compound was badly damaged in a U.S.-led Nato bombing campaign during the Kosovo War of 1999. Trump has reportedly been interested in acquiring the site since 2014, unconcerned by local unease about replacing a historical landmark associated with wartime suffering with a lavish American luxury resort. He finally secured tentative approval last year, but the project has now hit a fresh administrative obstacle, according to The New York Times. Goran Vasic, former director of the Republic Institute for the Protection of Cultural Monuments, has been arrested after admitting to inventing an expert opinion in order to justify the decision to strip the site of its protected status, which shielded it from demolition. The legal protection was removed on November 14 last year, less than two weeks after Trump won the U.S. presidential election, allowing the project to move ahead. 'Vasic forged a proposal for a decision to revoke the status of cultural property,' the Office of the Prosecutor for Organized Crime said in a statement. Affinity Partners has responded with a statement of its own denying any involvement or knowledge of the affair. 'Today we learned from media reports that a former Serbian government official with no connection to our firm allegedly falsified documents related to the landmark designation of the Belgrade Square project,' it read. 'We will review this matter and determine next steps.' Even before Vasic's confession, the proposed development had attracted protests in Serbia, notably on March 24 this year when the 26th anniversary of the bombing campaign was observed. But the country's president, Aleksandar Vucic, has been receptive to the prospect of the Trump Hotel Belgrade being realized. He hosted Kushner and Donald Trump Jr. and visited Florida in April in the hope of meeting his U.S. counterpart, but he cut the trip short on health grounds without achieving his aim. The situation arises at a time when Trump is facing growing criticism about his efforts to expand his business empire while occupying the White House. His first major overseas trip to the Middle East this week has been overshadowed by ethical objections to his decision to accept a $400m Boeing jet as a gift from the Qatari royal family. Members of his family have meanwhile been busy touting for business in the same region, announcing a $5.5bn deal to build an 18-hole Trump International Golf Club in Qatar and a $2bn commitment from the United Arab Emirates towards the family's new cryptocurrency exchange. Qatari state-backed funds were also part of a $6bn funding round for Trump adviser Elon Musk's artificial intelligence company xAI, and another Qatari fund has invested in Kushner's private equity firm.
