Sudanese Prime Minister Abdalla Hamdok sought to market his impoverished country to European business leaders as an attractive investment destination on Tuesday, a day after Khartoum cleared a final hurdle to receiving broader relief on its $50 billion foreign debt.
We are in a much better position now to implement these plans
“We have often said that Sudan is a rich nation that has no need for grants. What it really needs is investment that will create jobs for our youth,” Mr Hamdok told European investors in a meeting in Paris on Tuesday.
“We need to see genuine investments coming to our country and working with us.”
Mr Hamdok, a career UN economist who became prime minister in 2019, echoed the same appeal in a separate meeting in Paris with French investors on Tuesday.
“We are talking about serious plans ... we are in a much better position now to implement these plans,” he said.
Sudan has a diverse and rich variety of natural resources, from farmlands to gold mines, and potential tourist attractions such as ancient archaeological sites and diving spots in pristine Red Sea waters.
It has perhaps Africa's largest agricultural potential and Sudanese officials displayed projects in Paris worth billions of dollars in energy, mining, infrastructure and farming.
Sudan has been in and out of economic crises since it gained independence in 1956, with the cycle of military rule, dysfunctional elected governments and civil wars constantly feeding instability and hampering efforts to reform the economy.
Widespread corruption under the 29-year rule of former dictator Omar Al Bashir devastated the economy, which could not recover from the loss of most of the country's oil wealth when the southern region seceded in 2011 at the end of two decades of civil war.
The loss of the oilfields led to Sudan's worst economic crisis, which was the chief cause of a 2018-2019 popular uprising that paved the way for the military to remove Al Bashir in April 2019.
At least 100 people were killed during a short but bloody popular protest movement that ousted the military government.
But the economic woes – faltering currency, shortages of basic goods, 300 per cent inflation and a fall in productivity owing to the coronavirus pandemic – endure to this day despite moves to reform the economy, such as devaluing the currency and removing state subsidies on fuel.
Political instability is also an issue.
Troops shot dead two protesters last week and injured at least 16 in Khartoum. On Monday night, the country's chief prosecutor stepped down and the head of the judiciary was fired. No official explanation was given for either decision.
Debt relief
But there were some encouraging signs this week in Paris, where French President Emmanuel Macron hosted an international conference to help Sudan through its post-Al Bashir period.
Mr Macron started the meeting by declaring his intention to cancel the $5bn debt owed by Sudan.
France also confirmed it would facilitate clearing Sudan's arrears to the International Monetary Fund through a $1.5bn loan covered by pledges made by member states, removing the final hurdle before Sudan can gain relief for its foreign debt.
Sudan has already cleared its arrears to the World Bank and the African Development Bank with loans from western donors.
With debts to multilateral lenders settled, Sudan can move forward and settle its estimated $38bnn bills to bilateral creditors. An additional $6bn of its external debt is commercial in nature.
Sudan's Ministry of Foreign Affairs said in a tweet that Italy and Germany committed to clearing their share of Sudan's debt, which total $1.8bn, according to IMF estimates.
Norway said it would cancel the $100 million owed to them.
Kuwait, Sudan's largest creditor at $9.8bn, said it would support debt-resolution discussions, while Saudi Arabia, another major creditor, said it would press strongly for a broad agreement on debt.
MATCH INFO
Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid
When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid
COMPANY PROFILE
Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed
Analysis
Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more
ENGLAND SQUAD
For first two Test in India Joe Root (captain), Jofra Archer, Moeen Ali, James Anderson , Dom Bess, Stuart Broad , Rory Burns, Jos Buttler, Zak Crawley, Ben Foakes, Dan Lawrence, Jack Leach, Dom Sibley, Ben Stokes, Olly Stone, Chris Woakes. Reserves James Bracey, Mason Crane, Saqib Mahmood, Matthew Parkinson, Ollie Robinson, Amar Virdi.
UAE currency: the story behind the money in your pockets
How Islam's view of posthumous transplant surgery changed
Transplants from the deceased have been carried out in hospitals across the globe for decades, but in some countries in the Middle East, including the UAE, the practise was banned until relatively recently.
Opinion has been divided as to whether organ donations from a deceased person is permissible in Islam.
The body is viewed as sacred, during and after death, thus prohibiting cremation and tattoos.
One school of thought viewed the removal of organs after death as equally impermissible.
That view has largely changed, and among scholars and indeed many in society, to be seen as permissible to save another life.
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UAE currency: the story behind the money in your pockets
BMW M5 specs
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Power: 727hp
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Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
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The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
MATCH INFO
Who: UAE v USA
What: first T20 international
When: Friday, 2pm
Where: ICC Academy in Dubai
The specs
Engine: 77.4kW all-wheel-drive dual motor
Power: 320bhp
Torque: 605Nm
Transmission: Single-speed automatic
Price: From Dh219,000
On sale: Now
UAE currency: the story behind the money in your pockets
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
Match info
What: Fifa Club World Cup play-off
Who: Al Ain v Team Wellington
Where: Hazza bin Zayed Stadium, Al Ain
When: Wednesday, kick off 7.30pm
The smuggler
Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple.
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.
Khouli conviction
Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.
For sale
A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.
- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico
- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000
- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950
Stree
Producer: Maddock Films, Jio Movies
Director: Amar Kaushik
Cast: Rajkummar Rao, Shraddha Kapoor, Pankaj Tripathi, Aparshakti Khurana, Abhishek Banerjee
Rating: 3.5
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
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APPLE IPAD MINI (A17 PRO)
Display: 21cm Liquid Retina Display, 2266 x 1488, 326ppi, 500 nits
Chip: Apple A17 Pro, 6-core CPU, 5-core GPU, 16-core Neural Engine
Storage: 128/256/512GB
Main camera: 12MP wide, f/1.8, digital zoom up to 5x, Smart HDR 4
Front camera: 12MP ultra-wide, f/2.4, Smart HDR 4, full-HD @ 25/30/60fps
Biometrics: Touch ID, Face ID
Colours: Blue, purple, space grey, starlight
In the box: iPad mini, USB-C cable, 20W USB-C power adapter
Price: From Dh2,099
THE%20STRANGERS'%20CASE
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UAE SQUAD
Mohammed Naveed (captain), Mohamed Usman (vice captain), Ashfaq Ahmed, Chirag Suri, Shaiman Anwar, Mohammed Boota, Ghulam Shabber, Imran Haider, Tahir Mughal, Amir Hayat, Zahoor Khan, Qadeer Ahmed, Fahad Nawaz, Abdul Shakoor, Sultan Ahmed, CP Rizwan
Pakistan Super League
Previous winners
2016 Islamabad United
2017 Peshawar Zalmi
2018 Islamabad United
2019 Quetta Gladiators
Most runs Kamran Akmal – 1,286
Most wickets Wahab Riaz –65
Pathaan
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THE BIO
Favourite car: Koenigsegg Agera RS or Renault Trezor concept car.
Favourite book: I Am Pilgrim by Terry Hayes or Red Notice by Bill Browder.
Biggest inspiration: My husband Nik. He really got me through a lot with his positivity.
Favourite holiday destination: Being at home in Australia, as I travel all over the world for work. It’s great to just hang out with my husband and family.
The specs
Engine: Dual 180kW and 300kW front and rear motors
Power: 480kW
Torque: 850Nm
Transmission: Single-speed automatic
Price: From Dh359,900 ($98,000)
On sale: Now
SQUADS
Pakistan: Sarfraz Ahmed (capt), Azhar Ali, Shan Masood, Sami Aslam, Babar Azam, Asad Shafiq, Haris Sohail, Usman Salahuddin, Yasir Shah, Mohammad Asghar, Bilal Asif, Mir Hamza, Mohammad Amir, Hasan Ali, Mohammad Abbas, Wahab Riaz
Sri Lanka: Dinesh Chandimal (capt), Lahiru Thirimanne (vice-capt), Dimuth Karunaratne, Kaushal Silva, Kusal Mendis, Sadeera Samarawickrama, Roshen Silva, Niroshan Dickwella, Rangana Herath, Lakshan Sandakan, Dilruwan Perera, Suranga Lakmal, Nuwan Pradeep, Vishwa Fernando, Lahiru Gamage
Umpires: Ian Gould (ENG) and Nigel Llong (ENG)
TV umpire: Richard Kettleborough (ENG)
ICC match referee: Andy Pycroft (ZIM)
