Respect sovereignty of Arab states, Gargash tells Turkey



The Minister of State for Foreign Affairs Dr Anwar Gargash on Saturday called on Turkey to respect the sovereignty of Arab states, saying support for regime change by violence would be unwise.

"It is no secret to the observer that the Arab-Turkish relations are not at their best, and that the return of balance to Ankara should take into account Arab sovereignty and deal with its neighbours wisely and rationally," Dr Gargash said on Twitter.

Ties between Arab states and Turkey have been strained over its support for Qatar, which the UAE, Saudi Arabia, Bahrain and Egypt have boycotted since June last year over its support for terrorism and extremism.

Turkey, along with Qatar, is also a supporter of the Muslim Brotherhood, which Egypt, Saudi Arabia and the UAE have declared a terrorist group. Ankara's growing ties with Tehran are also of concern. Iran's forces or its proxies are increasingly involved in regional conflicts, including in Yemen where Saudi Arabia and the UAE are key players in a coalition fighting Iran-backed rebels to restore the internationally recognised government.

"Opposition to the main Arab states and support for movements that seek to change regimes by violence does not represent a rational approach to the neighbourhood, and Ankara is required to respect the sovereignty and respect of the Arab states," Dr Gargash said in a second tweet.

"The Arab world will not be led by its neighbours, and its current conditions will not remain permanent, and neighbouring countries should distinguish in dealing with the Arabs between facts and myths," he added.

Dr Gargash had in December called for the Arab world to come together under Saudi-Egyptian leadership to combat Iranian and Turkish influences in the region.

“The world is at an impasse, and the solution is to co-operate in the face of surrounding regional ambitions,” he tweeted.

“The sectarian and partisan approach is not an acceptable alternative. The Arab world will not be led by Tehran or Ankara."

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Read more:
UAE: The Arab world will not be led by Iran and Turkey
Saudi's Crown Prince says Qatar won't be barred from Arab summit
Saudi Arabia says Qatar continues to propagate hatred

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US households add $601bn of debt in 2019

American households borrowed another $601 billion (Dh2.2bn) in 2019, the largest yearly gain since 2007, just before the global financial crisis, according to February data from the New York Federal Reserve Bank.

Fuelled by rising mortgage debt as homebuyers continued to take advantage of low interest rates, the increase last year brought total household debt to a record high, surpassing the previous peak reached in 2008 just before the market crash, according to the report.

Following the 22nd straight quarter of growth, American household debt swelled to $14.15 trillion by the end of 2019, the New York Fed said in its quarterly report.

In the final three months of the year, new home loans jumped to their highest volume since the fourth quarter of 2005, while credit cards and auto loans also added to the increase.

The bad debt load is taking its toll on some households, and the New York Fed warned that more and more credit card borrowers — particularly young people — were falling behind on their payments.

"Younger borrowers, who are disproportionately likely to have credit cards and student loans as their primary form of debt, struggle more than others with on-time repayment," New York Fed researchers said.

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  • 70 per cent of cancer deaths occur in low and middle-income countries 
  • This rate is expected to increase to 75 per cent by 2030 
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  • The total annual economic cost of cancer is $1.16 trillion

   

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