Jordan is facing not only a refugee crisis but also drug trafficking challenges on a daily basis, the country's Deputy Prime Minister Ayman Al Safadi has said.
Captagon, a synthetic stimulant that has become synonymous with Syria’s conflict, is one of the most widely consumed drugs in the region.
Jordan has been foiling smuggling attempts and seizing large amounts of narcotics from Syria and the region for months.
“We have a 360-kilometre border with Syria. In recent years the biggest threat was terrorism and now it is drug trafficking,” Mr Al Safadi, who is also Jordan's foreign minister, said on Saturday during the annual Institute of Strategic Studies summit in Bahrain.
“Hardly a day passes when we don't intercept drugs coming into Jordan, such as Captagon,” he said.
New production techniques in Syria and an increase in regional demand, pushed by Covid-19 lockdowns, resulted in the rise of smuggling this year, the UN Office on Drugs and Crime said in its World Drugs Report for 2021.
“In the past Jordan was a transitional market but now Jordan has become a target,” Mr Al Safadi told the audience.
For years the Middle East has been battling a Captagon crisis, with security forces across the region carrying out operations to combat drug trafficking.
Refugee crisis
On the refugee crisis, Mr Al Safadi said his government is hosting millions of Syrians.
He emphasised the need for regional states to come up with a political solution that includes the safe return of millions of refugees stranded in the region and the West.
"There was no strategy to solve the Syria crisis over the past few years, we used to deal with the status quo, but we cannot afford the status quo ... we are trying to see if we can get movement to reach a solution," Mr Al Safadi said.
Jordan has been at the "receiving end of every crisis in the region", he said.
"We will do whatever we can to serve the interests of our country," he said, adding that Jordan has the second largest refugee population in the world.
Jordan has the second largest population of refugees globally after Lebanon by percentage of the population, with refugee numbers representing 10 per cent of the country's inhabitants, the Norwegian Refugee Council, a non-governmental organisation, has said.
Mr Al Safadi said that 15 per cent of the roughly 660,000 Syrian refugees who are in Jordan are under the age of 15.
"Jordan is the only country they ever got to know. We are doing everything we can to provide them with hope," he said.
The minister said he believed donor fatigue was another challenge facing his country and the international community.
IISS Manama Dialogue - in pictures
The finalists
Player of the Century, 2001-2020: Cristiano Ronaldo (Juventus), Lionel Messi (Barcelona), Mohamed Salah (Liverpool), Ronaldinho
Coach of the Century, 2001-2020: Pep Guardiola (Manchester City), Jose Mourinho (Tottenham Hotspur), Zinedine Zidane (Real Madrid), Sir Alex Ferguson
Club of the Century, 2001-2020: Al Ahly (Egypt), Bayern Munich (Germany), Barcelona (Spain), Real Madrid (Spain)
Player of the Year: Cristiano Ronaldo, Lionel Messi, Robert Lewandowski (Bayern Munich)
Club of the Year: Bayern Munich, Liverpool, Real Madrid
Coach of the Year: Gian Piero Gasperini (Atalanta), Hans-Dieter Flick (Bayern Munich), Jurgen Klopp (Liverpool)
Agent of the Century, 2001-2020: Giovanni Branchini, Jorge Mendes, Mino Raiola
Skoda Superb Specs
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The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
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TOUR RESULTS AND FIXTURES
June 3: NZ Provincial Barbarians 7 Lions 13
June 7: Blues 22 Lions 16
June 10: Crusaders 3 Lions 12
June 13: Highlanders 23 Lions 22
June 17: Maori All Blacks 10 Lions 32
June 20: Chiefs 6 Lions 34
June 24: New Zealand 30 Lions 15 (First Test)
June 27: Hurricanes 31 Lions 31
July 1: New Zealand 21 Lions 24 (Second Test)
July 8: New Zealand v Lions (Third Test) - kick-off 11.30am (UAE)
How to play the stock market recovery in 2021?
If you are looking to build your long-term wealth in 2021 and beyond, the stock market is still the best place to do it as equities powered on despite the pandemic.
Investing in individual stocks is not for everyone and most private investors should stick to mutual funds and ETFs, but there are some thrilling opportunities for those who understand the risks.
Peter Garnry, head of equity strategy at Saxo Bank, says the 20 best-performing US and European stocks have delivered an average return year-to-date of 148 per cent, measured in local currency terms.
Online marketplace Etsy was the best performer with a return of 330.6 per cent, followed by communications software company Sinch (315.4 per cent), online supermarket HelloFresh (232.8 per cent) and fuel cells specialist NEL (191.7 per cent).
Mr Garnry says digital companies benefited from the lockdown, while green energy firms flew as efforts to combat climate change were ramped up, helped in part by the European Union’s green deal.
Electric car company Tesla would be on the list if it had been part of the S&P 500 Index, but it only joined on December 21. “Tesla has become one of the most valuable companies in the world this year as demand for electric vehicles has grown dramatically,” Mr Garnry says.
By contrast, the 20 worst-performing European stocks fell 54 per cent on average, with European banks hit by the economic fallout from the pandemic, while cruise liners and airline stocks suffered due to travel restrictions.
As demand for energy fell, the oil and gas industry had a tough year, too.
Mr Garnry says the biggest story this year was the “absolute crunch” in so-called value stocks, companies that trade at low valuations compared to their earnings and growth potential.
He says they are “heavily tilted towards financials, miners, energy, utilities and industrials, which have all been hit hard by the Covid-19 pandemic”. “The last year saw these cheap stocks become cheaper and expensive stocks have become more expensive.”
This has triggered excited talk about the “great value rotation” but Mr Garnry remains sceptical. “We need to see a breakout of interest rates combined with higher inflation before we join the crowd.”
Always remember that past performance is not a guarantee of future returns. Last year’s winners often turn out to be this year’s losers, and vice-versa.
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Profile of Tarabut Gateway
Founder: Abdulla Almoayed
Based: UAE
Founded: 2017
Number of employees: 35
Sector: FinTech
Raised: $13 million
Backers: Berlin-based venture capital company Target Global, Kingsway, CE Ventures, Entrée Capital, Zamil Investment Group, Global Ventures, Almoayed Technologies and Mad’a Investment.
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UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions