The Emir of Qatar, Sheikh Tamim bin Hamad Al Thani, left, greets the Sudanese president Omar Al Bashir during a visit to Khartoum on April 2, 2104. Ashraf Shazly / AFP
The Emir of Qatar, Sheikh Tamim bin Hamad Al Thani, left, greets the Sudanese president Omar Al Bashir during a visit to Khartoum on April 2, 2104. Ashraf Shazly / AFP

Struggling Sudan gets $1 bn from Qatar



KHARTOUM // Qatar’s emir held talks in Sudan on Wednesday at a time of strained ties between his country and other Gulf countries over Doha’s perceived support for the Muslim Brotherhood.

Sheikh Tamim bin Hamad Al Thani was greeted at Khartoum airport by Sudan’s President Omar Al Bashir, at the start of what an analyst called a meeting of two regionally isolated regimes.

The Sudanese regime, which took power 25 years ago in an Islamist-backed coup, is essentially based on support from the Brotherhood, said Safwat Fanous, a political scientist at the University of Khartoum.

He said the Sheikh Tamim’s visit appears aimed to “break the isolation” of Qatar.

Qatar has been an important backer of Sudan’s government, which is “in desperate need of foreign direct investment”, said Khalid Tigani, chief editor of the Elaff economic weekly.

Diplomatic and other sources said last month that major European and Saudi banks had stopped dealing with Sudan, adding to the sanctions-hit state’s isolation and further straining its cash-starved economy.

Khartoum says the banks are under increased pressure from the United States, which has a 17-year-old trade embargo against Sudan.

Ties Doha and Khartoum, meanwhile, “are witnessing rapid progress”, with Qatari investing in agriculture and mining, the foreign ministry spokesman Abubakr Al Siddiq said, quoted by the official Suna news agency.

Sudanese officials last month said Qatar was providing an unprecedented US$135 million (Dh495m) to support Sudan’s rich but underdeveloped archaeological heritage.

Qatar also hosted talks which led to the 2011 Doha Document for Peace in Darfur between Khartoum and rebel splinter groups in the western region of Sudan, where violence has worsened this year.

“This agreement didn’t bring peace to Darfur,” said Mr Fanous of the University of Khartoum. “I think the Qatar role in Darfur is shrinking.”

In early March, Saudi Arabia, the United Arab Emirates and Bahrain recalled their ambassadors from Qatar.

Qatar is a perceived supporter of the Muslim Brotherhood which is banned in most Gulf states.

* Agence France-Presse

COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
Our legal consultant

Name: Dr Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

ONCE UPON A TIME IN GAZA

Starring: Nader Abd Alhay, Majd Eid, Ramzi Maqdisi

Directors: Tarzan and Arab Nasser

Rating: 4.5/5

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Director: Christopher McQuarrie

Starring: Tom Cruise, Hayley Atwell, Simon Pegg

Rating: 4/5

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.

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UK-EU trade at a glance

EU fishing vessels guaranteed access to UK waters for 12 years

Co-operation on security initiatives and procurement of defence products

Youth experience scheme to work, study or volunteer in UK and EU countries

Smoother border management with use of e-gates

Cutting red tape on import and export of food

At a glance

Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.

 

Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year

 

Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month

 

Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30 

 

Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse

 

Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth

 

Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances

Titanium Escrow profile

Started: December 2016
Founder: Ibrahim Kamalmaz
Based: UAE
Sector: Finance / legal
Size: 3 employees, pre-revenue  
Stage: Early stage
Investors: Founder's friends and Family

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