UN says delivering aid to Yemen port city during attack, considers airlift

File photo showing workers unloading wheat provided by UNICEF from a cargo ship docked in the western Yemen port of Hodeidah, January 27, 2018. (AFP)
Updated 13 June 2018
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UN says delivering aid to Yemen port city during attack, considers airlift

  • UN in Yemen is drawing up options to ensure aid delivery to Yemenis “in case of a siege of Hodeidah.
  • The United Nations delivered food and other vital aid supplies to the Yemeni port of Hodeidah Wednesday.

GENEVA: The United Nations delivered food and other vital aid supplies to the Yemeni port of Hodeidah on Wednesday even as a Saudi-led coalition carried out naval shelling and air strikes on the city, the top UN humanitarian official in Yemen told Reuters.
Lise Grande, UN resident and humanitarian coordinator for Yemen, speaking by telephone from the capital Sanaa, said that her office was drawing up options to ensure aid delivery to millions of Yemenis “in case of a possible siege of Hodeidah,” including a humanitarian airlift.
“We are distributing food, hygiene and nutritional supplies, shelter materials. We have a ship offloading food even as shelling and bombing is happening,” Grande said. “The UN is already taking steps in case of a possible siege including airlift capability.”


Egypt offers residency to foreign investors

Updated 21 November 2018
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Egypt offers residency to foreign investors

  • A three-year residency is on offer for those who invest $200,000, and five years for those who purchase property worth $400,000
  • To begin the process for obtaining Egyptian residency, a preliminary contract must be agreed between the property owner and the foreign investor

CAIRO: In an attempt to further boost its booming real estate sector and attract foreign investment, Egypt will grant residency permits to foreigners who invest at least $100,000 in the country’s property market.
The growth rate of Egypt’s property market stands at 133 percent in 2018. This has been fueled by strong demand for housing, along with the sporadic launch of residential construction projects.
The minimum investment required to obtain a residency permit is $100,000. A three-year residency is on offer for those who invest $200,000, and five years for those who purchase property worth $400,000. The offer also applies to properties that are still under construction.
Khaled Abbas, the deputy minister of housing, said the procedures for the scheme are being set up in consultation with the Passport, Immigration and Nationality Administration.
To begin the process for obtaining Egyptian residency, a preliminary contract must be agreed between the property owner and the foreign investor, and then signed by an authorized body, such the Urban Communities Authority, the Tourism Development Authority or the governorate in which the property is located. Bank statements must also be provided confirming that the money has been transferred from overseas. The passport office will then approve the period of residence.
Members of the House of Representatives welcomed the announcement as a positive move for Egypt and an incentive for foreign investment, which it is hoped will create jobs and economic opportunities.
Whether the public will be so keen remains to be seen.
“This might be a bit problematic,” said Aly Salem, a resident of Cairo. “The housing demand in Egypt is already high, with the surging youth population and more and more people looking to get married each year. Where will they stay, if foreigners start swooping in and acquiring both residency and a huge housing unit with just $100,000?”
Offering further details, Gen. Kamel Amer, the head of the Parliament’s Defense and National Security Committee, said foreigners will not have any political rights for the first five years of residency and they will not be eligible to vote for 10 years. He also said spouses and children of investors will not be granted residency unless they live in Egypt.
Spain and Portugal have implemented similar programs in an attempt to boost their property markets. Previously, a foreigner had to live in Egypt for 10 consecutive years to be eligible for naturalization.
The new residency law is part of the efforts to repair the damage to Egypt’s economy caused by severe austerity measures imposed after the $12 billion loan package from the International Monetary Fund in 2016.
The cost and size of properties in Egypt, which are often large and lavish apartments, compare favorably to those in many other countries. Despite this, few Egyptians can afford to pay for a house upfront, but some private property developers are offering 10-year, interest-free installment plans.