Nice, France // The leaders of France and Italy buried their differences yesterday and called for changes to European law on free movement between countries to stem the flow of migrants from North Africa.
The French president, Nicolas Sarkozy, and the Italian prime minister, Silvio Berlusconi, agreed in talks in Rome that the Schengen open-border treaty needed to be amended if it was to survive.
France has been alarmed by Italy's decision to issue temporary visas, granting "roaming rights" under the Schengen pact, to most of the 26,000 people thought to have crossed the Mediterranean since January. Most are Tunisians but Libyans have also begun heading for Italy to escape civil war at home.
French actions, especially in blocking trains at Ventimiglia, on the France-Italian border 40 kilometres east of Nice, caused dismay in Rome.
The dispute boiled down to the mutual unwillingness of both countries to accept an influx of migrants at a time when public opinion is strongly against large-scale immigration.
Mr Sarkozy and Mr Berlusconi stressed that they had no wish to abandon Schengen, to which most European Union nations plus Switzerland, Norway and Iceland are signatories.
But both agreed the treaty had to be adaptable to events such as the turmoil in North Africa that has led thousands to seek new lives in Europe. "We both believe that in exceptional circumstances there should be variations to the treaty," said Mr Berlusconi.
The two leaders have urged the European Commission to examine how to inject such flexibility into an agreement that otherwise allows people to move between countries with a minimum of controls. They also want the right to impose border controls temporarily, and a "principle of solidarity" to ease the burden on European states with Mediterranean seaboards in dealing with mass immigration.
The measures sought by the two countries will be discussed when the EU council of ministers meets in June. In the meantime, France and Italy will press Tunisia to dissuade its citizens from trying to reach Europe.
Many of the Tunisians who have fled their country head for the Italian island of Lampedusa, 120km from the Tunisian coast. The crossing can be arduous, with traffickers often packing migrants into small boats and charging them up to €1,000 (Dh5,368) each. An unknown number of migrants have drowned.
France and Italy have agreed to mount sea and air patrols to try to halt the flow. But tensions between the countries grew when France said it would send back to Italy any migrants, even in possession of Italian-issued papers, if they were unable to prove they could support themselves.
But the Rome summit ended in a renewed spirit of cooperation.
Mr Sarkozy praised Italy's announcement that its military aircraft would join Nato's air strikes to enforce the UN-sanctioned no-fly zone over Libya and protect Libyan citizens from Col Muammar Qaddafi's forces.
The French president alluded to Italy's former role as Libyan's colonial power and said that, in the light of their close historical connection, it defied belief that Italy would not be involved in helping the international coalition working "to allow Libyans to live in freedom after 41 years of dictatorship".
To no small extent, both leaders were addressing unsettled domestic electorates, anxious to appear tough on the core issue that immigration has become to each country.
Mr Berlusconi has had to grapple with a succession of legal battles, in which he has been accused of wrongdoing from fraud to sexual misconduct with young prostitutes, while Mr Sarkozy's opinion poll ratings are consistently low.
With elections a year away, the president travelled to Rome yesterday in the knowledge that another poll had suggested that while he would reach the decisive second round, he would then lose to whichever candidate the socialists had fielded.
Mr Sarkozy and Mr Berlusconi made a joint call for moderation on "all sides" involved in unrest in Syria, and for an end by the authorities in Damascus to "the violent repression of what are peaceful demonstrations".
Mr Berlusconi described the talks as "very, very positive" and will have been further impressed that Mr Sarkozy pledged his support for the bid by Mario Draghi, governor of the Bank of Italy, to succeed Jean-Claude Trichet as head of the European Central Bank later this year.
foreign.desk@thenational.ae
The design
The protective shell is covered in solar panels to make use of light and produce energy. This will drastically reduce energy loss.
More than 80 per cent of the energy consumed by the French pavilion will be produced by the sun.
The architecture will control light sources to provide a highly insulated and airtight building.
The forecourt is protected from the sun and the plants will refresh the inner spaces.
A micro water treatment plant will recycle used water to supply the irrigation for the plants and to flush the toilets. This will reduce the pavilion’s need for fresh water by 30 per cent.
Energy-saving equipment will be used for all lighting and projections.
Beyond its use for the expo, the pavilion will be easy to dismantle and reuse the material.
Some elements of the metal frame can be prefabricated in a factory.
From architects to sound technicians and construction companies, a group of experts from 10 companies have created the pavilion.
Work will begin in May; the first stone will be laid in Dubai in the second quarter of 2019.
Construction of the pavilion will take 17 months from May 2019 to September 2020.
Four reasons global stock markets are falling right now
There are many factors worrying investors right now and triggering a rush out of stock markets. Here are four of the biggest:
1. Rising US interest rates
The US Federal Reserve has increased interest rates three times this year in a bid to prevent its buoyant economy from overheating. They now stand at between 2 and 2.25 per cent and markets are pencilling in three more rises next year.
Kim Catechis, manager of the Legg Mason Martin Currie Global Emerging Markets Fund, says US inflation is rising and the Fed will continue to raise rates in 2019. “With inflationary pressures growing, an increasing number of corporates are guiding profitability expectations downwards for 2018 and 2019, citing the negative impact of rising costs.”
At the same time as rates are rising, central bankers in the US and Europe have been ending quantitative easing, bringing the era of cheap money to an end.
2. Stronger dollar
High US rates have driven up the value of the dollar and bond yields, and this is putting pressure on emerging market countries that took advantage of low interest rates to run up trillions in dollar-denominated debt. They have also suffered capital outflows as international investors have switched to the US, driving markets lower. Omar Negyal, portfolio manager of the JP Morgan Global Emerging Markets Income Trust, says this looks like a buying opportunity. “Despite short-term volatility we remain positive about long-term prospects and profitability for emerging markets.”
3. Global trade war
Ritu Vohora, investment director at fund manager M&G, says markets fear that US President Donald Trump’s spat with China will escalate into a full-blown global trade war, with both sides suffering. “The US economy is robust enough to absorb higher input costs now, but this may not be the case as tariffs escalate. However, with a host of factors hitting investor sentiment, this is becoming a stock picker’s market.”
4. Eurozone uncertainty
Europe faces two challenges right now in the shape of Brexit and the new populist government in eurozone member Italy.
Chris Beauchamp, chief market analyst at IG, which has offices in Dubai, says the stand-off between between Rome and Brussels threatens to become much more serious. "As with Brexit, neither side appears willing to step back from the edge, threatening more trouble down the line.”
The European economy may also be slowing, Mr Beauchamp warns. “A four-year low in eurozone manufacturing confidence highlights the fact that producers see a bumpy road ahead, with US-EU trade talks remaining a major question-mark for exporters.”
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THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now
The specs
Engine: Four electric motors, one at each wheel
Power: 579hp
Torque: 859Nm
Transmission: Single-speed automatic
Price: From Dh825,900
On sale: Now
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
Kathryn Hawkes of House of Hawkes on being a good guest (because we’ve all had bad ones)
- Arrive with a thank you gift, or make sure you have one for your host by the time you leave.
- Offer to buy groceries, cook them a meal or take your hosts out for dinner.
- Help out around the house.
- Entertain yourself so that your hosts don’t feel that they constantly need to.
- Leave no trace of your stay – if you’ve borrowed a book, return it to where you found it.
- Offer to strip the bed before you go.
The rules on fostering in the UAE
A foster couple or family must:
- be Muslim, Emirati and be residing in the UAE
- not be younger than 25 years old
- not have been convicted of offences or crimes involving moral turpitude
- be free of infectious diseases or psychological and mental disorders
- have the ability to support its members and the foster child financially
- undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
The Baghdad Clock
Shahad Al Rawi, Oneworld
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The Kingfisher Secret
Anonymous, Penguin Books
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NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
The specs
Engine: four-litre V6 and 3.5-litre V6 twin-turbo
Transmission: six-speed and 10-speed
Power: 271 and 409 horsepower
Torque: 385 and 650Nm
Price: from Dh229,900 to Dh355,000
Griselda
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In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
Henrik Stenson's finishes at Abu Dhabi HSBC Championship:
2006 - 2
2007 - 8
2008 - 2
2009 - MC
2010 - 21
2011 - 42
2012 - MC
2013 - 23
2014 - MC
2015 - MC
2016 - 3
2017 - 8
Ms Yang's top tips for parents new to the UAE
- Join parent networks
- Look beyond school fees
- Keep an open mind
WORLD CUP SEMI-FINALS
England v New Zealand
(Saturday, 12pm UAE)
Wales v South Africa
(Sunday, 12pm, UAE)
AUSTRALIA SQUAD
Aaron Finch, Matt Renshaw, Brendan Doggett, Michael Neser, Usman Khawaja, Shaun Marsh, Mitchell Marsh, Tim Paine (captain), Travis Head, Marnus Labuschagne, Nathan Lyon, Jon Holland, Ashton Agar, Mitchell Starc, Peter Siddle
