Page 25 - ARUBA TODAY

BUSINESS Monday 22 May 2017
A25

At WEF, entrepreneurs seen as solution for Mideast troubles

KARIN LAUB gan his first international trip conditions in regional host
Associated Press with a visit to Saudi Arabia. countries, where cash-
DEAD SEA, Jordan (AP) In coming days, Trump is to strapped aid agencies
— Digital start-ups run by visit Israel and the Palestin- have struggled to provide
young Arab entrepreneurs ian territories before head- basic support.
took center stage Satur- ing to Europe. Iraqi President Fuad Masum
day at the World Economic Mogherini said that Europe called on investors to come
Forum, where participants does “not see eye to eye” to his country and help with
said private sector-driven with the Trump administra- reconstruction efforts, par-
growth is key to solving the tion on major issues such as ticularly in the northern city
Middle East’s stark eco- trade, climate change and of Mosul, which was over-
nomic problems, including funding of U.N. agencies, run by Islamic State extrem-
30 percent youth unem- but can “easily” work with ists in 2014.
ployment. the U.S. on the conflicts in Since the fall, Iraqi forces
More than 1,100 politicians Syria and between Israelis backed by a U.S.-led coali-
and business people came and Palestinians. tion have slowly advanced
together for the forum’s Europe’s top diplomat in the city, pushing back
regional meeting. Among warned that threatened the militants. Attendees gather in the main hall of the World Economic Forum,
them were EU foreign pol- U.S. cuts in funding U.N. Masum said that he hopes at the King Hussein Bin Talal Convention Center, at the Dead
icy chief Federica Mogh- agencies or humanitarian Mosul will be liberated “in Sea, Jordan, on Saturday May 20, 2017. Associated Press
erini, German Defense Min- work “would create a ma- the next few days,” adding
ister Ursula von der Leyen, jor security issue worldwide, that “our country is open to ing environment for entre- mation.
CEOs from the region and including in Europe.” all investors.” preneurs, including access Moving to a digital econo-
the founders of 100 start- The Syria refugee crisis has Masum has described the to financing. my “can allow the region
ups from the Arab world. highlighted the link be- scope of destruction in Mo- Khaled Biyari, the CEO of and the countries in this
The forum’s regional meet- tween aid and security. sul as “horrendous.” the Saudi Telecom Com- region to leap frog,” Biyari
ing was held as President Hundreds of thousands of On the business side, par- pany, said the region’s said. “They don’t have to
Donald Trump, whose civil war refugees have ticipants said the region’s young population — two- go back and do what oth-
young administration is en- migrated to Europe after governments and institu- thirds are under the age of er developed nations have
gulfed in controversy, be- facing increasingly difficult tions must provide a nurtur- 30 — can drive the transfor- (done).”q

Asian stocks track Wall St’s

rally despite global worries

KEEPING SCORE: Ja- MARKET WORRIES: Among NORTH KOREA: North Ko-
pan’s benchmark Nik- the global developments rea’s latest missile test, on
kei 225 gained 0.3 per- adding to investor fears are Sunday, was a solid-fuel
cent in morning trading at the various controversies ballistic missile that can
19,649.24. Australia’s S&P/ swirling around the Trump be harder for outsiders
ASX 200 added 0.8 percent administration. But news to detect before launch.
to 5,769.00. South Korea’s was relatively quiet over The official Korean Central
Kospi gained 0.4 percent the weekend as Trump vis- News Agency confirmed
People are reflected on the electronic board of a securities firm to 2,297.92. Hong Kong’s ited Saudi Arabia, getting Monday the missile was
in Tokyo, Monday, May 22, 2017. Hang Seng jumped nearly a reprieve from the contro- a Pukguksong-2, a land-
Associated Press 0.8 percent to 25,363.56, versies that have marred his based version of a subma-
YURI KAGEYAMA Street and relative quiet while the Shanghai Com- young presidency. Trump rine-launched missile. The
AP Business Writer in U.S. politics as President posite edged 0.1 percent will travel on to Israel and missile fell into the sea and
TOKYO (AP) — Asian stocks Donald Trump began his higher to 3,097.52. South- Europe and attend a sum- generated scant reaction
rose Monday, cheered first official trip overseas as east Asian markets were mit of the Group of Seven in markets.q
by the latest rally on Wall president. also higher. nations.