Migrants who crossed the Mediterranean wait to board a boat from the Italian island of Lampedusa. AFP
Migrants who crossed the Mediterranean wait to board a boat from the Italian island of Lampedusa. AFP
Migrants who crossed the Mediterranean wait to board a boat from the Italian island of Lampedusa. AFP
Migrants who crossed the Mediterranean wait to board a boat from the Italian island of Lampedusa. AFP

EU agrees deal to fine countries $21,000 for each migrant they refuse to take


Laura O'Callaghan
  • English
  • Arabic

EU ministers have agreed a deal on hosting unauthorised migrants, under which countries must pay €20,000 ($21,000) to a Brussels fund for each asylum seeker they refuse to take.

The agreement was announced late on Thursday after interior ministers from the 27 EU countries gathered in Luxembourg. Poland and Hungary voted against the proposals, while Bulgaria, Malta, Lithuania and Slovakia abstained.

It was hailed as a “hugely significant step” by European interior affairs commissioner Ylva Johansson.

Hungarian Prime Minister Viktor Orban on Friday criticised the deal, accusing Brussels of wanting to “forcefully turn Hungary into a migrant country”.

But Budapest's protests are likely to hold little sway, as the agreement required only approval from a majority of countries representing at least 65 per cent of the EU’s population.

The deal calls for compulsory help between EU members.

Its priority is for EU countries to share the hosting of asylum seekers, many of whom arrive in Mediterranean countries such as Greece and Italy. Six hundred migrants were rescued off Italy last week.

Member states that refuse to take in asylum seekers will have to pay €20,000 for each person into a fund managed by Brussels.

German Interior Minister Nancy Faeser hailed the agreement as one of the bloc’s “historic decisions”.

But Hungary accused Brussels of forcing the deal through without proper discussion and pro-migrant countries pressuring others.

“Brussels is abusing its power,” Mr Orban wrote on social media on Friday morning.

“They want to relocate migrants to Hungary with force. This is unacceptable, they want to forcefully turn Hungary into a migrant country.”

Hungary's Deputy Interior Minister Bence Retvari accused the EU of “eliminating [member states'] say in who resides in their territories”.

He told Hungarian state news agency MTI on Friday that the deal would “basically allow illegal migrants or the human traffickers who brought them to Europe to decide themselves who will live in Europe”.

Mr Retvari slammed the process that led to the deal being passed, saying some of the proposals had been distributed “minutes, at most half an hour” ahead of the votes on Thursday.

He added that “pro-migration governments” had “pressured” their fellow member states to approve the terms.

Under Prime Minister Giorgia Meloni, Italy has introduced measures aimed at discouraging migrants from crossing in small boats.

Campaigners involved in rescue missions told The National Ms Meloni's policies risked endangering human lives.

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A timeline of the Historical Dictionary of the Arabic Language
  • 2018: Formal work begins
  • November 2021: First 17 volumes launched 
  • November 2022: Additional 19 volumes released
  • October 2023: Another 31 volumes released
  • November 2024: All 127 volumes completed
The team

Photographer: Mateusz Stefanowski at Art Factory 
Videographer: Jear Valasquez 
Fashion director: Sarah Maisey
Make-up: Gulum Erzincan at Art Factory 
Model: Randa at Art Factory Videographer’s assistant: Zanong Magat 
Photographer’s assistant: Sophia Shlykova 
With thanks to Jubail Mangrove Park, Jubail Island, Abu Dhabi 

 
WHAT IS A BLACK HOLE?

1. Black holes are objects whose gravity is so strong not even light can escape their pull

2. They can be created when massive stars collapse under their own weight

3. Large black holes can also be formed when smaller ones collide and merge

4. The biggest black holes lurk at the centre of many galaxies, including our own

5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Brief scores

Barcelona 2

Pique 36', Alena 87'

Villarreal 0

Fourth Arab Economic and Social Development Summit

As he spoke, Mr Aboul Gheit repeatedly referred to the need to tackle issues affecting the welfare of people across the region both in terms of preventing conflict and in pushing development.
Lebanon is scheduled to host the fourth Arab Economic and Social Development Summit in January that will see regional leaders gather to tackle the challenges facing the Middle East. The last such summit was held in 2013. Assistant Secretary-General Hossam Zaki told The National that the Beirut Summit “will be an opportunity for Arab leaders to discuss solely economic and social issues, the conference will not focus on political concerns such as Palestine, Syria or Libya". He added that its slogan will be “the individual is at the heart of development”, adding that it will focus on all elements of human capital.

THE BIO

Ms Al Ameri likes the variety of her job, and the daily environmental challenges she is presented with.

Regular contact with wildlife is the most appealing part of her role at the Environment Agency Abu Dhabi.

She loves to explore new destinations and lives by her motto of being a voice in the world, and not an echo.

She is the youngest of three children, and has a brother and sister.

Her favourite book, Moby Dick by Herman Melville helped inspire her towards a career exploring  the natural world.

Updated: June 09, 2023, 12:32 PM