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...
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Munich Security Conference: Ukraine war and US-China relations take centre stage

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US-China

    World leaders are meeting at the Munich Security Conference, a privately organised annual event funded by a range of sponsors. The three-day talks around global security started yesterday and as expected, the war in Ukraine and escalated geopolitical tensions between the US and China have been front and centre.

Three Major Updates

1.Speaking at the event, US Vice President Kamala Harris said the United States has formally determined that Russia has committed crimes against humanity in war-torn Ukraine.

Although the phrase 'crimes against humanity' has often been used interchangeably with 'war crimes' during the conflict, there is a prominent difference. While war crime only happens during an armed conflict, a crime against humanity can take place during times of war as well as peace.

A soldier killing an unarmed civilian in a warzone is an example of a war crime. But a crime against humanity includes offences like sexual slavery.

2.British Prime Minister Rishi Sunak urged other world leaders to "double down" on their military support for Ukraine and to help guarantee the war-torn nation's long-term security

He even added that the UK would "happily support other countries" if they provided fighter jets to Ukraine - something Western nations have so far expressed reluctance to do.

Sunak had a "positive discussion" with European Commission President Ursula von der Leyen over a new post-Brexit trade deal for Northern Island, No 10 mentioned.

3.China's top diplomat Wang Yi denounced the US's "hysterical" and "absurd" response to an alleged Chinese spy balloon incident.

Beijing, after initial hesitation, acknowledged ownership of the balloon. But it has constantly denied allegations that the flying object was for surveillance, stressing it was a "civilian airship used for research" and that it entered the US airspace "completely accidentally".

The incident has escalated already simmering tensions between the two superpowers.

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