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Is Middle Eastern Investment Good for the British Economy?

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Middle Eastern investment in the UK has soared during the last decade, and there are no signs of its slowing down.

David Cameron with the Emir of Qatar, Sheikh Tamim bin Hamad Al Thani

David Cameron with the Emir of Qatar, Sheikh Tamim bin Hamad Al Thani

 

Prime Minister David Cameron has stated that he is eager to tap into the rapidly growing market, which is now worth in excess of £1.3 trillion globally. Rich states funding major projects in housing, hospitality and retail in London are set to increase in 2015 due to a drop in oil prices. The rise of foreign investment in the commercial district, South Bank, is shown by the fact that 15% of property owners in the area are from the Gulf. This is expected to contribute to a predicted 30% rise in the price of London properties during the next five years, so is the growing investment beneficial to the wider economy?

Mayor of London Boris Johnson recently commented that the inward investment from the Middle East provides a significant boost to the UK and that it should feel fortunate to receive continued support from organisations such as privately owned firm M1 Group. An overview of the Lebanese company reveals huge investment in consumer goods, including clothing and accessories and other sectors. The Mayor also dismissed reports that such Middle Eastern investment has been the driving factor in pushing up property prices in the residential market in the capital, stating that overseas sales are currently at a similar level to the 1990s and that “people need to get this in perspective.” He added: “The Shard, Chelsea Barracks, Harrods, the Olympic Village – all have already had Islamic finance in their make-up. We’re not reliant on it, but we’re very lucky to get it. And we certainly need it.”

The UK has historically received the highest amount of investment from the Middle East in the past, ahead of the United States, Germany and France, and this had a hugely positive impact on growth, wealth and the creation of new jobs in the country. David Cameron announced in 2013 that he would like London to stand alongside Kuala Lumpur and Dubai “as one of the great capitals of Islamic finance anywhere in the world” due to these positive trends.

Islamic investment has helped to fund the redevelopment of Battersea Power Station and other notable landmarks and locations, which Mr Cameron states is proof that it is “already fundamental to our success.” Gulf investment has also strengthened the industrial base rather than weakening it, while creating invaluable business links.

The continued investment is also having a cultural impact on the capital, leading to a fusion of the best Western European and Middle Eastern values, arts, religion, clothing and other creative outlets. M1 Group is just one of the companies that has played a part in this, following their substantial investment in the UK through real estate, retail and via the UK Stock Exchange, where many of their businesses have been placed during the last few years.

Middle Eastern investment continues to be courted by the UK government, so it is obvious that it remains beneficial, with the money proving vital to the various important projects that drive growth and create jobs for people across the country.

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The Ultimate American Road Trip: Route 66

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route 66

If you’re looking for the omega American road trip then you’ve got to hit the Mother Road, otherwise known as Route 66. From Chicago to LA, it’s a journey that’ll provide the experience of a lifetime, showing you the heart of a great nation.

Start in Chicago & Chase the Sun

In reality, the best always head west. Would you rather end the trip in the Windy City, or just in time to catch a gorgeous L.A. sunset on the beach? There’s just something deeply spiritual for folks when we head west. It becomes an adventure. It becomes a vehicular voyage to the sea. Here are some of the highlights you can expect in order:

Illinois: It’s a pretty straight shot through the state from Chicago through Springfield (which has some stretches of restored Route 66) and southwest to St. Louis. There’s a bit of the bright lights of big cities, but also a good calm stretch of rural to cruise through as well; vast fields of corn and farmland for close to 300 miles.

Missouri: Once you hit East St. Louis you’ll again be greeted by sky scrapers, industrial areas and the mark of modernity but then it’s another SE straight shot through the entire belly of the state.

Kansas: You’re only going to spend a little time in the good’ol Kansas heartland. And by little we mean a whopping 14 miles far down in the bottom south east corner. You’ll go through two towns: Galena and Baxter Springs but rest assured there’s great classic restaurants and places that’ve been open as long as Route 66 has been around. In fact, it’s because of road tripper like you just passin’on through that keep’em goin.

Oklahoma: You’re going to go through two huge metropolises that have “country” written all over’em: Tulsa first and then into Oklahoma City before heading directly west towards the Pan Handle. Of all 8 states, it’s here that they take Route 66 the most seriously. It’s got the most preserved still-drivable miles and you’ll be able to see the remnants of Kiowa, Apache and Comanche Native American land. And, you’ll get to take the same route as families long ago in the Dust Bowl took to escape.

Texas: You’re going to go through the upper tip of the Texas Pan Handle that takes you through Amarillo. It looks short on a map but the 200-mile stretch of plains is a sight to behold like none other. If you can time it so you cut through here in the afternoon on a sunny day your spirit will be recharged. Just try not to pay any attention to all the truckers!

New Mexico: Welcome to the Land of Enchantment where you’ll pass through Sun Belt city and Albuquerque. These days, it can be a bit challenging to stay strictly on the old road but with all the sandstone mesas and pine forests it’s definitely worth it.

Arizona: In Arizona you’ll stay in the northern plains rather than heading down into the really hot areas around Phoenix. Instead, you’ll pass directly through Flagstaff which is a mountain town and where Northern Arizona University is located. The sights here are like a completely different world from everything you’ve seen so far, especially once you begin to head south right before passing into California. Oh, and because of the high speeds on the I-40, this will feel like one of those awesome car track days.

California: Once you reach this point get ready to cruise through rolling hills, vineyards, orchards, stunning landscapes and then at Barstow you should begin smelling the sea. From San Bernardino and Pasadena to Santa Monica it’s simply breathtaking.

This is only a taste of the experience really. You’ve just got to get out and do it. There’s plenty of great resources online to keep you on track and if you have the time you don’t have to miss a thing. Enjoy!

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Key Moments from Trump’s Impeachment Hearing

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Trump's Impeachment
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Heartbreaking; Another School Shooting Santa Clarita, CA

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Santa Clarita School SHooting

Santa Clarita, California, high school shooting leaves 2 students dead, multiple injured

SANTA CLARITA, Calif. (KABC) — A 16-year-old boy shot five fellow students, two fatally, Thursday morning at Saugus High School in Santa Clarita before turning the .45-caliber handgun on himself, authorities said.

A Los Angeles County Fire Department spokesperson said multiple 911 calls prompted firefighter-paramedics to respond about 7:40 a.m. to the school at 21900 Centurion Way.

Six students, including the gunman, were found in the quad suffering from gunshot wounds, Sheriff Alex Villanueva said at a news conference. All six were transported to hospitals, where two of them, a 16-year-old girl and a 14-year-old boy, were later pronounced dead.

The surviving victims were described as two girls, ages 14 and 15, and a 14-year-old boy.

In a tweet, Henry Mayo Hospital said it had received four patients.

Their names were not immediately disclosed. The sheriff said the deceased girl’s parents were at the hospital. He was notified of the second fatality during a press conference at the school.

Gunman turns .45 caliber on himself

According to sheriff’s Capt. Kent Wegener, surveillance video “clearly” shows the suspect pulling a semi-automatic handgun out of his backpack in the quad and shooting five classmates before shooting himself in the head.

Thursday was the gunman’s 16th birthday, the captain said.

He was listed in grave condition at a hospital, according to Villanueva.

In the immediate aftermath of the shooting, authorities released a description of the suspect as a manhunt got underway. Heavily armed deputies and an armored SWAT vehicle were seen at a home near the school, but it was unclear if the house was connected to the investigation.

The high school remained on lockdown for hours after the incident. Shortly before 11 a.m., lockdowns were lifted at all campuses in the district, as well as Rosedell and Highland elementary schools.

Central Park, at 27150 Bouquet Canyon Road, was being used as a reunification point for parents and students, the Sheriff’s Department said.

Undersheriff Tim Murakami tweeted an apology to parents, saying investigators need to interview “every student at Saugus HS” before they can be released.

In a statement, the White House said President Donald Trump was monitoring ongoing reports about the shooting.

“The White House encourages all those in the area to follow the advice of local law enforcement and first responders,” the statement said.

Gov. Gavin Newsom tweeted an expression of gratitude to the emergency responders.

“We simply should not have to fear for our kids’ lives when we drop them off at school,” the governor said. Addressing Senate Majority Leader Mitch McConnell, Newsom asked: “How many more lives will be lost? How many more shootings will we have to endure? We need commonsense gun reform. NOW.”

Amid the chaos at the scene, the number of reported victims fluctuated throughout the morning. The sheriff later confirmed that six people were shot, including the gunman.


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