Mahmoud Karzai, a brother of the president of Afghanistan and a shareholder in the troubled Kabul Bank, has disclosed his net worth for the first time, with assets of more than US$6.6 million (Dh24.24m). But he asserts his total wealth has increased by just $1m in the past three years, with that coming mostly from his sale of a villa on the Palm Jumeirah in Dubai. Mr Karzai made the claims after US newspaper reports alleged he had profited from his connection to the president Hamid Karzai.
His assets include: an Afghan restaurant in Cambridge, Massachusetts; an 18 per cent stake in an Afghan cement factory; a 20 per cent stake in a property project in Kandahar, Afghanistan's second-largest city; and a larger stake in an apartment building project in Kabul, the capital. "I am a major businessman but I am not wealthy," said Mr Karzai, who left Afghanistan in 1976 for the US where he eventually went into the restaurant business. "Everything I had from the US I invested in Afghanistan. I have taken great risks."
US federal prosecutors are reportedly investigating Mr Karzai on suspicion of violations including racketeering and tax evasion but he said he had received no confirmation of an investigation. His only mistake, he said, was failing to report more than Dh3m of profit he made on the sale of his villa on the Palm Jumeirah in 2008. Late last month he transferred $301,000 to the US government as part of an amended income tax filing with the Internal Revenue Service. The under-reporting of his income was a "mistake", he said.
Any other accusations were groundless and politically motivated, Mr Karzai said. "I'm not involved in anything which will hurt me or my family. There is a lot of jealousy and resentment for what I do," he said. "Instead of encouragement for investing in Afghanistan, I get resentment. Welcome to this part of the world." The spotlight fell on Mr Karzailast month when Afghanistan's central bank ousted the top two executives at the country's largest private financial institution, Kabul Bank, over the improper use of more than $150m for property investments in Dubai.
He is the third-largest shareholder of the bank, which handles the payroll for Afghanistan's soldiers, police and teachers. "I was a silent partner" in Kabul Bank, Mr Karzai said. "My views were not taken."
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COMPANY%20PROFILE
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UAE currency: the story behind the money in your pockets
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
Landfill in numbers
• Landfill gas is composed of 50 per cent methane
• Methane is 28 times more harmful than Co2 in terms of global warming
• 11 million total tonnes of waste are being generated annually in Abu Dhabi
• 18,000 tonnes per year of hazardous and medical waste is produced in Abu Dhabi emirate per year
• 20,000 litres of cooking oil produced in Abu Dhabi’s cafeterias and restaurants every day is thrown away
• 50 per cent of Abu Dhabi’s waste is from construction and demolition
ESSENTIALS
The flights
Emirates flies direct from Dubai to Rio de Janeiro from Dh7,000 return including taxes. Avianca fliles from Rio to Cusco via Lima from $399 (Dhxx) return including taxes.
The trip
From US$1,830 per deluxe cabin, twin share, for the one-night Spirit of the Water itinerary and US$4,630 per deluxe cabin for the Peruvian Highlands itinerary, inclusive of meals, and beverages. Surcharges apply for some excursions.
'The Batman'
Stars:Robert Pattinson
Director:Matt Reeves
Rating: 5/5
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
Quick facts on cancer
- Cancer is the second-leading cause of death worldwide, after cardiovascular diseases
- About one in five men and one in six women will develop cancer in their lifetime
- By 2040, global cancer cases are on track to reach 30 million
- 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
- At least one third of common cancers are preventable
- Genetic mutations play a role in 5 per cent to 10 per cent of cancers
- Up to 3.7 million lives could be saved annually by implementing the right health
strategies
- The total annual economic cost of cancer is $1.16 trillion