Japanese megabanks consider evacuating staff located in Middle East
Mitsubishi UFJ Financial Group has begun evacuating some family members of staff from Dubai and the Saudi Arabian capital Riyadh, a spokesperson said, and is also considering allowing staff to leave at their own discretion.
Tensions in the region have increased since the United States struck three nuclear sites in Iran over the weekend, joining Israel, which began a military campaign against Iran on June 13.
Mizuho Financial Group is urging its staff to be cautious and is considering measures including evacuations, a spokesperson said.
(Reporting by Miho Uranaka, Makiko Yamazaki and Sam Nussey; Editing by Kate Mayberry)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
30 minutes ago
- Zawya
Jordan mulls increasing gas supplies to Syria, in cooperation with Egypt, Qatar
AMMAN — Minister of Energy and Mineral Resources Saleh Kharabsheh and Minister of Water and Irrigation Raed Abul Saud on Wednesday held talks with Syrian Minister of Energy Mohammad Bashir to discuss ways to enhance bilateral cooperation in the fields of energy and water. The meeting, held at the Energy Ministry headquarters, focused on strengthening regional integration, rehabilitating shared infrastructure and promoting sustainable development between the two neighbouring countries. Kharabsheh said that, in line with directives from His Majesty King Abdullah, Jordan has been supplying Syria with Qatari natural gas through the Arab Gas Pipeline since the early stages of coordination. The minister also said that the two sides discussed increasing the volume of gas exported to Syria, in cooperation with Egypt and Qatar, to support electricity generation in the country. The ministers also highlighted Jordan's expertise in managing electricity distribution and petroleum products, with Syrian officials expressing interest in benefiting from Jordanian experience. Talks also covered plans to raise the electricity interconnection capacity between Jordan and Syria from 250 megawatts to 300 megawatts, alongside the rehabilitation of transmission lines with support from the Arab Fund for Economic and Social Development and the International Monetary Fund. The minister also said that agreements were signed with private sector partners to invest in renewable energy projects in Syria, as part of a broader effort to expand the use of clean energy in both countries, adding that a joint action plan was outlined to guide cooperation in technical and strategic areas in the coming months. For his part, Al Bashir emphasised the importance of enhancing cooperation, particularly in expanding gas supplies, rehabilitating electrical networks and establishing regional electricity connectivity. Minister of Water and Irrigation Raed Abul Saud also discussed with the Syrian delegation the pressing water challenges, including the declining water levels in the Yarmouk River Basin and the Wihdeh Dam. The two sides agreed to form a technical committee to review the 1987 water-sharing agreement and explore updates to address current conditions. Abul Saud and Al Bashir also noted that unregulated well drilling on the Syrian side of the Yarmouk River, which had significantly reduced inflows into the Unity Dam and the Jordan River, has now been halted as part of joint efforts to address the water crisis. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
Zawya
30 minutes ago
- Zawya
Dubai tops global charts with 140 branded projects set for delivery by 2031
Branded residences have emerged as a powerful force in luxury real estate, combining elite living with the allure of globally recognised brands. At the epicentre of this trend is Dubai, which has seen a remarkable 160% growth in this segment over the past decade. According to a new industry report by Betterhomes, Branded Residences: Dubai vs The World, Dubai has emerged as the global capital of branded living. The city's market is projected to reach 140 branded developments by 2031, placing it well ahead of established luxury hubs such as Miami, London, and Phuket. 2024 was a record-breaking year, with over 13,000 branded home sales generating AED 60 billion in transaction value, a 43% year-on-year increase. Buyers are paying premiums of 40% to 60%, driven by the promise of elevated lifestyle experiences, exceptional services, and strong capital appreciation. 'High-net-worth buyers are no longer just looking for property. They're investing in lifestyle, brand value, and long-term growth. Dubai offers all three, and that's why it's outperforming legacy markets like London and Miami,' said Christopher Cina, Director of Sales at Betterhomes. The report positions Dubai as more competitive than its global peers, offering better value than Miami, a more investor-friendly tax landscape than London, and greater long-term growth potential than Phuket. While residences like Aston Martin's in Miami reach AED 25,000 per square foot, Dubai's Bvlgari and Bugatti-branded homes remain more accessibly priced, yet still command significant premiums and investor interest. Once dominated by hotel names like Four Seasons and Ritz-Carlton, the branded residence sector has evolved to include automotive, fashion, and entertainment brands. Dubai has embraced this shift, leading the global trend toward lifestyle-driven, brand-integrated living. With over 50 projects completed and another 130 in the pipeline, Dubai's momentum continues to reshape the future of global luxury real estate. Here's the full report for your reference: Branded Residences | Dubai vs. The World
Zawya
32 minutes ago
- Zawya
Jordan: Cabinet introduces new rules for granting citizenship through investment
AMMAN — The Cabinet on Wednesday approved a new set of regulations aimed at attracting foreign investment by offering Jordanian citizenship or residency for meeting specific investment criteria. The decision, made during a Cabinet session chaired by Prime Minister Jafar Hassan, follows recommendations by a special committee on investment facilitation, according to the Jordan news agency, Petra. Under the new rules, foreign investors will be eligible for Jordanian citizenship if they purchase new shares in Jordanian companies worth at least JD1 million, provided the shares are not mortgaged or financed through loans. The shares must be purchased within four months of receiving approval from the Ministry of Investment and traded exclusively through licensed financial brokerage firms. As per the new regulations, investors are prohibited from withdrawing or using any funds from the investment, including trading profits, for a period of three years. Additionally, no more than 20 per cent of the total investment can be concentrated in a single company. Citizenship through new projects Citizenship may also be granted to investors who establish and register new productive-sector projects with a minimum capital of JD700,000 in Amman or JD500,000 outside the capital. The project must create 20 jobs in Amman or 10 jobs elsewhere for Jordanian nationals, verified by the Social Security Corporation (SSC). Under the new rules, investors will receive temporary residency during the initial phase and, once employment targets are met, a temporary Jordanian passport valid for three years will be issued. Full citizenship will be granted after three years of verified compliance with investment and employment conditions. Investors may also qualify by acquiring new shares in existing projects worth JD1 million or more, provided at least JD500,000 is invested in fixed and non-current assets. The project must create 20 new jobs for Jordanians, and the investor must retain the shares for at least three years before citizenship is recommended. The Cabinet also decided that current investors may be eligible for citizenship if they hold shares in projects with an average value of JD700,000 in fixed and tangible assets over the last three years, and if they have maintained 90 per cent of required employment levels, averaging 20 Jordanian workers per month during the same period. Outside Amman, the asset threshold drops to JD350,000, with an employment requirement of 10 workers. As per the decision, citizenship may also be extended toan investor's spouse, unmarried, widowed or divorced daughters living under the investor's care, unmarried sons under 24, and dependent parents. For investments exceeding in value JD2 million, sons under 30, their spouses, and children may also receive Jordanian citizenship. Strategic sectors targeted Investors in key sectors, including pharmaceutical warehousing, medical equipment, logistics, and large-scale food storage, are eligible if their company's capital exceeds JD3 million, and they employ 20 Jordanian workers in Amman or 10 workers outside the capital, specifically in pharmacy roles. Investors employing 150 Jordanians in Amman or 100 Jordanians elsewhere, registered with SSC for at least a year, will also be eligible, provided employment continues for two years post-naturalization. In cases where ownership is transferred to first-degree relatives, the new owner may also be granted citizenship, contingent on the original investor's shares being retained for three years. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
