Fiery Trump lashes Iran’s ‘corrupt dictatorship’ at UN

US President Donald Trump addresses the 72nd Annual UN General Assembly in New York on Tuesday. (AFP)
Updated 20 September 2017
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Fiery Trump lashes Iran’s ‘corrupt dictatorship’ at UN

JEDDAH: US President Donald Trump addressed the UN General Assembly for the first time Tuesday, saying Iran’s government is a corrupt dictatorship disguised as a democracy.
Tehran “has turned a wealthy country, with a rich history and culture, into an economically depleted rogue state whose chief exports are violence, bloodshed and chaos,” Trump said. “The longest-suffering victims of Iran’s leaders are, in fact, Iranian people.”
He added that Tehran uses its resources and oil profits to fund Hezbollah and other terrorist groups that kill innocent Muslims and attack peaceful Arab states.
“This wealth, which rightly belongs to Iranian people, also goes to shore up (Syrian President) Bashar Assad’s dictatorship, fuel Yemen’s civil war and undermine peace throughout the entire Middle East,” Trump said.
He added that the world cannot let Tehran continue these destabilizing activities while building ballistic missiles, and cannot abide by the nuclear deal if it provides cover for an eventual nuclear program.
“The Iran deal was one of the worst and most one-sided transactions the United States has ever entered into,” Trump said. “Frankly, that deal is an embarrassment to the United States.”
He added that Iran must stop supporting terrorists, start serving its own people and respect the sovereign rights of its neighbors.
He said Tehran’s support for terrorism is in stark contrast to recent commitments by many of its neighbors to combat terrorism and its financing.
“In Saudi Arabia… I was greatly honored to address the leaders of more than 50 Arab and Muslim nations,” said Trump.
“We agreed that all responsible nations must work together to confront terrorists and the Islamic extremism that inspires them.”
He added that the US cannot allow terrorism and extremism to tear up “our nation and, indeed, to tear up the entire world. We must deny the terrorists safe haven, transit, funding, and any form of support for their vile and sinister ideology.”
He said the US is working with its allies throughout the Middle East to crush terrorists and stop the re-emergence of safe havens that they use to launch attacks against innocents.
Speaking about recent setbacks to Daesh, Trump said in Syria and Iraq, there has been major progress toward the terrorist group’s lasting defeat.
Over the Syrian crisis, he said: “We seek the de-escalation of the conflict and a political solution that honors the will of the Syrian people.”
“The actions of the criminal regime of Bashar Assad, including the use of chemical weapons against his own citizens, even innocent children, shocked the conscience of every decent person.” He added that no society could be safe if banned chemical weapons are allowed to proliferate.
Trump referred to North Korea’s leader as “rocket man,” and described him as being on “a suicide mission for himself and for his regime.”
Trump threatened to “totally destroy” North Korea if the US finds itself “forced to defend itself or its allies.”
He added: “No one has shown more contempt for other nations, and for the well-being of their own people, than the depraved regime in North Korea. It’s responsible for the starvation deaths of millions of North Koreans.”


Egypt offers residency to foreign investors

Updated 47 min 6 sec ago
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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.