When I took part in the Delphi Economic Forum in Greece this month, discussions centred on the prerequisites for transformative corridor projects in the Middle East, such as the India-Middle East-Europe Economic Corridor, the Belt and Road Initiative and the Iraq Development Road. Security, political stability and an end to wars emerged as essential conditions.
However, critical questions were raised at the forum. Do these major projects clash with each other, or can they be complementary? Can trust-building among political actors bridge gaps and strengthen incentives for co-operation? And does US President Donald Trump have enough commitment to support, follow up and accelerate the launch of Imec?
Mohammed Baharoon, director general of the Dubai Policy Research Centre, and I represented the UAE in a session on Mediterranean-Gulf connectivity and the added value of corridor projects in deepening this connectivity. Our engagement highlighted how current geopolitical challenges have reshaped the momentum and feasibility of such initiatives, including Imec.
In general, the tragic war in Gaza has stalled the project’s momentum, as envisioned at its launch during the G20 Summit in New Delhi in September 2023. This war and the significant regional shifts since October 7 that year highlight the need for a reassessment to broaden participation in Imec and other such transformative mega projects. Improved Syrian-Iraqi relations could represent a significant step towards better integration of the two countries – as well as Lebanon, and perhaps even Gaza – into these corridors.
Imec gives economic diplomacy a more influential role in shaping the prospects of international relations, directing priorities and resources towards greater co-operation and economic interests rather than conflict. However, geopolitics is far from absent. The Gaza war and the resulting escalation between Israel and Iran, for example, were clear evidence of this. Instability also derails progress: the China-Pakistan Economic Corridor, for instance, faltered largely due to political and social instability in Pakistan.
The UAE advocates a more pragmatic and sustainable approach that considers projects and initiatives such as BRI, Imec and the Iraq Development Road (which includes the UAE, Qatar, Iraq and Turkey) as complementary rather than confrontational
Among the challenges this project faces is the question of who will fund the tens of billions of dollars needed to improve existing infrastructure and address gaps remains unanswered. Imec requires more than 2,000 kilometres of railway, and large parts of it still need to be built in the Middle East’s rough terrain. For example, the shipping route from Haifa in Israel to Greece passes through waters disputed with Turkey, which is not part of the project.
Ankara’s objections to the project could become more vocal following the shift in Syria with the fall of Bashar Al Assad’s government last December and the subsequent rise in Turkish influence in the country. The exclusion of Egypt, Iraq and Oman from Imec could also pose some challenges to the project.
Therefore, the UAE advocates a more pragmatic and sustainable approach that considers projects and initiatives such as BRI, Imec and the Iraq Development Road (which includes the UAE, Qatar, Iraq and Turkey) as complementary rather than confrontational. This inclusive view offers the most practical and sustainable path forward.
While Turkey is apprehensive about Imec, which does not pass through its territory, Ankara’s involvement in the Iraq Development Road will determine whether this project competes with or complements Imec. Turkey’s role will also determine the extent to which the Iraq Development Road supports China’s BRI.
Chinese experts have so far expressed scepticism towards the infrastructure proposals associated with Imec, criticising what they see as a familiar US pattern of overpromising and underdelivering.
While Imec struggles to compete with BRI – a decade-old framework involving about 150 countries – it aligns with US efforts to empower a select group of “technically and financially capable” states. For China, Imec presents both a challenge and an opportunity. Just as the US has often downplayed BRI’s significance, Beijing may regard Imec with initial scepticism. However, the best-case scenario for all parties would be one of co-operation and constructive competition, rather than rivalry or confrontation.
It is evident that the UAE continues to pursue a multilateral foreign policy.
During his meeting with Chinese Premier Li Qiang in Abu Dhabi last September, President Sheikh Mohamed reaffirmed his country’s commitment as a strategic partner in BRI. He also emphasised that UAE-China relations represent a model of international co-operation rooted in diplomacy and dialogue.
China remains the UAE’s largest trading partner, with bilateral trade reaching $102 billion last year – marking a 7 per cent increase from 2023. In a first-of-its-kind development that will further deepen economic and tourism ties, China Eastern Airlines announced the launch of direct flights between Shanghai and Abu Dhabi, scheduled to begin today.
This move underscores Abu Dhabi’s strategic importance within the BRI framework. The emirate offers a supportive economic environment – bolstered by its advantageous geographic location, investor-friendly free zone policies and leadership in the energy and financial services sectors – making it an ideal hub for the global expansion of Chinese enterprises.
As economic ties deepen, with bilateral trade between the UAE and China projected to reach $200 billion by 2030, Abu Dhabi is steadily reinforcing its role as a gateway for Chinese investment into the Middle East and beyond. The emirate now hosts a significant number of Chinese companies operating in key sectors such as high tech, financial services, energy and industry.
Yet while China continues to deepen its BRI footprint, questions remain about the future of US-backed initiatives.
Mr Trump’s protectionist orientation has cast doubt on the depth of US commitment to Imec, which has been described as a potential catalyst for realising the long-envisioned Eurasian connectivity. While Mr Trump characterised Imec as “one of the greatest trade routes in history” during his meeting with Indian Prime Minister Narendra Modi in February, expectations must be tempered by the need for realistic, adaptable approaches.
In the end, the success of Imec – and similar large-scale initiatives – depends on the ability of stakeholders to embrace a co-operative, win-win approach. Prioritising complementarity rather than rivalry is key to realising the full potential of regional connectivity.
UAE currency: the story behind the money in your pockets
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Citizenship-by-investment programmes
United Kingdom
The UK offers three programmes for residency. The UK Overseas Business Representative Visa lets you open an overseas branch office of your existing company in the country at no extra investment. For the UK Tier 1 Innovator Visa, you are required to invest £50,000 (Dh238,000) into a business. You can also get a UK Tier 1 Investor Visa if you invest £2 million, £5m or £10m (the higher the investment, the sooner you obtain your permanent residency).
All UK residency visas get approved in 90 to 120 days and are valid for 3 years. After 3 years, the applicant can apply for extension of another 2 years. Once they have lived in the UK for a minimum of 6 months every year, they are eligible to apply for permanent residency (called Indefinite Leave to Remain). After one year of ILR, the applicant can apply for UK passport.
The Caribbean
Depending on the country, the investment amount starts from $100,000 (Dh367,250) and can go up to $400,000 in real estate. From the date of purchase, it will take between four to five months to receive a passport.
Portugal
The investment amount ranges from €350,000 to €500,000 (Dh1.5m to Dh2.16m) in real estate. From the date of purchase, it will take a maximum of six months to receive a Golden Visa. Applicants can apply for permanent residency after five years and Portuguese citizenship after six years.
“Among European countries with residency programmes, Portugal has been the most popular because it offers the most cost-effective programme to eventually acquire citizenship of the European Union without ever residing in Portugal,” states Veronica Cotdemiey of Citizenship Invest.
Greece
The real estate investment threshold to acquire residency for Greece is €250,000, making it the cheapest real estate residency visa scheme in Europe. You can apply for residency in four months and citizenship after seven years.
Spain
The real estate investment threshold to acquire residency for Spain is €500,000. You can apply for permanent residency after five years and citizenship after 10 years. It is not necessary to live in Spain to retain and renew the residency visa permit.
Cyprus
Cyprus offers the quickest route to citizenship of a European country in only six months. An investment of €2m in real estate is required, making it the highest priced programme in Europe.
Malta
The Malta citizenship by investment programme is lengthy and investors are required to contribute sums as donations to the Maltese government. The applicant must either contribute at least €650,000 to the National Development & Social Fund. Spouses and children are required to contribute €25,000; unmarried children between 18 and 25 and dependent parents must contribute €50,000 each.
The second step is to make an investment in property of at least €350,000 or enter a property rental contract for at least €16,000 per annum for five years. The third step is to invest at least €150,000 in bonds or shares approved by the Maltese government to be kept for at least five years.
Candidates must commit to a minimum physical presence in Malta before citizenship is granted. While you get residency in two months, you can apply for citizenship after a year.
Egypt
A one-year residency permit can be bought if you purchase property in Egypt worth $100,000. A three-year residency is available for those who invest $200,000 in property, and five years for those who purchase property worth $400,000.
Source: Citizenship Invest and Aqua Properties
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
Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
Available: Now
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
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LILO & STITCH
Starring: Sydney Elizebeth Agudong, Maia Kealoha, Chris Sanders
Director: Dean Fleischer Camp
Rating: 4.5/5
The distance learning plan
Spring break will be from March 8 - 19
Public school pupils will undergo distance learning from March 22 - April 2. School hours will be 8.30am to 1.30pm
Staff will be trained in distance learning programmes from March 15 - 19
Teaching hours will be 8am to 2pm during distance learning
Pupils will return to school for normal lessons from April 5
Did you know?
Brunch has been around, is some form or another, for more than a century. The word was first mentioned in print in an 1895 edition of Hunter’s Weekly, after making the rounds among university students in Britain. The article, entitled Brunch: A Plea, argued the case for a later, more sociable weekend meal. “By eliminating the need to get up early on Sunday, brunch would make life brighter for Saturday night carousers. It would promote human happiness in other ways as well,” the piece read. “It is talk-compelling. It puts you in a good temper, it makes you satisfied with yourself and your fellow beings, it sweeps away the worries and cobwebs of the week.” More than 100 years later, author Guy Beringer’s words still ring true, especially in the UAE, where brunches are often used to mark special, sociable occasions.
The biog
Name: Atheja Ali Busaibah
Date of birth: 15 November, 1951
Favourite books: Ihsan Abdel Quddous books, such as “The Sun will Never Set”
Hobbies: Reading and writing poetry
COMPANY PROFILE
Name: Mamo Year it started: 2019 Founders: Imad Gharazeddine, Asim Janjua Based: Dubai, UAE Number of employees: 28 Sector: Financial services Investment: $9.5m Funding stage: Pre-Series A Investors: Global Ventures, GFC, 4DX Ventures, AlRajhi Partners, Olive Tree Capital, and prominent Silicon Valley investors. The stats
Ship name: MSC Bellissima
Ship class: Meraviglia Class
Delivery date: February 27, 2019
Gross tonnage: 171,598 GT
Passenger capacity: 5,686
Crew members: 1,536
Number of cabins: 2,217
Length: 315.3 metres
Maximum speed: 22.7 knots (42kph)
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The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
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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
Springsteen: Deliver Me from Nowhere
Director: Scott Cooper
Starring: Jeremy Allen White, Odessa Young, Jeremy Strong
Rating: 4/5
The years Ramadan fell in May
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
COMPANY PROFILE
Name: Xpanceo
Started: 2018
Founders: Roman Axelrod, Valentyn Volkov
Based: Dubai, UAE
Industry: Smart contact lenses, augmented/virtual reality
Funding: $40 million
Investor: Opportunity Venture (Asia)
The candidates
Dr Ayham Ammora, scientist and business executive
Ali Azeem, business leader
Tony Booth, professor of education
Lord Browne, former BP chief executive
Dr Mohamed El-Erian, economist
Professor Wyn Evans, astrophysicist
Dr Mark Mann, scientist
Gina MIller, anti-Brexit campaigner
Lord Smith, former Cabinet minister
Sandi Toksvig, broadcaster
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
About Okadoc
Date started: Okadoc, 2018
Founder/CEO: Fodhil Benturquia
Based: Dubai, UAE
Sector: Healthcare
Size: (employees/revenue) 40 staff; undisclosed revenues recording “double-digit” monthly growth
Funding stage: Series B fundraising round to conclude in February
Investors: Undisclosed
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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
The specs
Engine: 3.5-litre twin-turbo V6
Power: 380hp at 5,800rpm
Torque: 530Nm at 1,300-4,500rpm
Transmission: Eight-speed auto
Price: From Dh299,000 ($81,415)
On sale: Now
If you go...
Fly from Dubai or Abu Dhabi to Chiang Mai in Thailand, via Bangkok, before taking a five-hour bus ride across the Laos border to Huay Xai. The land border crossing at Huay Xai is a well-trodden route, meaning entry is swift, though travellers should be aware of visa requirements for both countries.
Flights from Dubai start at Dh4,000 return with Emirates, while Etihad flights from Abu Dhabi start at Dh2,000. Local buses can be booked in Chiang Mai from around Dh50
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U19 WORLD CUP, WEST INDIES
UAE group fixtures (all in St Kitts)
- Saturday 15 January: UAE beat Canada by 49 runs
- Thursday 20 January: v England
- Saturday 22 January: v Bangladesh
UAE squad:
Alishan Sharafu (captain), Shival Bawa, Jash Giyanani, Sailles
Jaishankar, Nilansh Keswani, Aayan Khan, Punya Mehra, Ali Naseer, Ronak Panoly,
Dhruv Parashar, Vinayak Raghavan, Soorya Sathish, Aryansh Sharma, Adithya
Shetty, Kai Smith
Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
