Donald Trump poses for a photograph on the first tee of the Trump Golf Course in 2013. Damac says it is sticking by its partnership with the Trump Organization despite the latest anti-Muslim tirade by the Republican presidential candidate front-runner. Duncan Chard for The National
Donald Trump poses for a photograph on the first tee of the Trump Golf Course in 2013. Damac says it is sticking by its partnership with the Trump Organization despite the latest anti-Muslim tirade byShow more

Damac sticks by Trump Organization amid anti-Muslim tirade



Damac is sticking by its partnership with the Trump Organization despite the latest anti-Muslim tirade by the front-runner for the Republican presidential nomination.

Donald Trump on Monday called for a "total and complete shutdown of Muslims entering the United States".

His remark drew swift rebukes from across the political spectrum. It came just weeks after he said he would consider closing down some US mosques in response to the Paris terror attacks.

The latest outburst has focused attention on the billionaire’s relationship with Dubai’s Damac Properties where the Trump Organization is managing a golf club under development on the outskirts of the city.

The partnership remained intact today despite the storm of controversy surrounding Mr Trump.

“We would like to stress that our agreement is with the Trump Organization as one of the premium golf course operators in the world and as such we would not comment further on Mr Trump’s personal or political agenda, nor comment on the internal American political debate scene,” said Niall McLoughlin, a senior vice president at Damac Properties.

The developer teamed up with The Trump Organization in May 2013 with a plan to operate a Trump International Golf Course at the heart of the 42 million square feet Akoya by Damac project in Dubailand.

During a political rally in South Carolina on Monday night, Mr Trump told supporters: “You’re going to have more World Trade Centers. We can be politically correct or we can be stupid, but it’s going to get worse and worse.”

Even before his latest remarks, Mr Trump drew criticism from the UAE business community.

Khalaf Al Habtoor, chairman of the Dubai-based Habtoor conglomerate, last month wrote in an article for The National:

"I was wrong and I do not mind admitting it. My support for America's front-running Republican presidential candidate Donald Trump was a mistake. Initially, I admired his outspokenness and his record of turning losses into wins. I believed – and still do – that America is lacking strong leadership. But when strength is partnered with ignorance and deceit, it produces a toxic mix threatening the United States and our world."

scronin@thenational.ae

Company%20Profile
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WHAT IS GRAPHENE?

It was discovered in 2004, when Russian-born Manchester scientists Andrei Geim and Kostya Novoselov were experimenting with sticky tape and graphite, the material used as lead in pencils.

Placing the tape on the graphite and peeling it, they managed to rip off thin flakes of carbon. In the beginning they got flakes consisting of many layers of graphene. But when they repeated the process many times, the flakes got thinner.

By separating the graphite fragments repeatedly, they managed to create flakes that were just one atom thick. Their experiment led to graphene being isolated for the very first time.

In 2010, Geim and Novoselov were awarded the Nobel Prize for Physics. 

Liz%20Truss
%3Cp%3EMinisterial%20experience%3A%20Current%20Foreign%20Secretary.%0D%3Cbr%3E%0DWhat%20did%20she%20do%20before%20politics%3F%20Worked%20as%20an%20economist%20for%20Shell%20and%20Cable%20and%20Wireless%20and%20was%20then%20a%20deputy%20director%20for%20right-of-centre%20think%20tank%20Reform.%0D%3Cbr%3E%0DWhat%20does%20she%20say%20on%20tax%3F%20She%20has%20pledged%20to%20%22start%20cutting%20taxes%20from%20day%20one%22%2C%20reversing%20April's%20rise%20in%20National%20Insurance%20and%20promising%20to%20keep%20%22corporation%20tax%20competitive%22.%3C%2Fp%3E%0A
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

Company%20Profile
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COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding

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