UAE’s $51 Billion Pledge for Turkey Is Marred by Failed Deals

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 The United Arab Emirates’ pledge to invest $51 billion in Turkey is facing challenges two years after its announcement, as shifting economic conditions in Ankara complicate deal-making. The initial commitment, intended to strengthen economic ties between the two nations, has encountered roadblocks stemming from valuation disputes and shifting investment priorities. In 2021, the UAE announced its ambitious plan to inject substantial capital into various sectors of the Turkish economy, including finance, technology, and infrastructure. The pledge was seen as a major step in restoring relations between the two countries, following years of geopolitical tensions. However, since then, Turkey's economic landscape has evolved, with a strengthened lira, rising investor confidence, and an improved trade balance making local businesses more resistant to external acquisitions and partnerships. Turkish companies, buoyed by a rebound in economic stability, have adopted a firmer stance on valua...

11 die in van crash in Thailand, including 2 children

 

Thailand

Over the Lunar New Year holiday, a passenger van crash in central Thailand resulted in the burning deaths of eleven individuals, including two children, authorities reported on Monday.

In the kingdom, which has a poor reputation for road safety, traffic accidents are frequent, especially during popular holidays.

During its journey from northeastern Amnat Charoen province to Bangkok on Saturday night, the van carrying 12 people drove off the road in central Nakhon Ratchasima province, according to Police Colonel Yingyos Poldej.

One passenger was able to escape through a window, according to Yingyos, while the other passengers were all trapped and perished in the fire.

Student Thanachit Kingkaew, the survivor, claimed to have been napping when someone screamed, startling him awake.

"The van was upside down when I awoke, which was the second thing I noticed. I was blind to what occurred, "said he.

"After the collision, the fire spread throughout the entire van, beginning at the back."

He claimed, "I started kicking the glass and crawled through a little hole.

The van detonated shortly after that.

A local rescue team volunteer named Nikhom Seaun claimed that the van detonated barely seconds after it was consumed by flames.

The entire van was consumed by the fire in less than 30 seconds, he claimed.

"With the fire extinguisher I had, I was powerless. Then, the van went off three or four times."

The van used both petrol and compressed gas, according to police colonel Yingyos, but preliminary investigations revealed that the gas tank was not leaking.

He added that they were still looking into what caused the car to go off the road but "we suspect that the fire was caused by the fuel."

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