Energy fights anew


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Gas finds in eastern Mediterranean Sea are steadily affecting the region's geopolitical map

"The undersea gas reserves in the eastern Mediterranean Sea are starting to have an effect on the geopolitics of the Middle East," wrote Paul Salem, director of the Carnegie Middle East Center, in an opinion article carried by the London-based newspaper Al Hayat yesterday.

"The huge amounts of gas discovered off of Israel's coast - as well as those finds that will probably be uncovered offshore Cyprus and Lebanon - are attracting the attention of world superpowers as well as the influential states of the region."

So, a Middle East that is already caught up in conflicts over land borders and territories will now have to turn its focus to the sea, the writer said. And nations that previously saw no benefit in collaborating with one another will now take time to reconsider.

Take Israel, for instance. It was the first country to exploit its gas fields of Tamar and Leviathan. That came in handy indeed, just in time to alleviate Israel's reliance on gas supplies from Egypt, which were becoming unsteady since the revolution.

"These gas finds carry the promise of making Israel not only self-sufficient in gas, but also an exporter of it." Yet to secure export routes, Israel faces a number of challenges.

"If Israel were in peace with its neighbours," the writer said, "the most cost-effective route for its exports to Europe would be overland, through its northern borders."

Israel is planning to ship its gas through Cyprus. But that also is easier said than done, the writer noted. "From Cyprus, the easier route would be Turkey, but the dented Turkish-Israeli relations make this option a bit of an impossibility for the time being."

Unloading its ships in Greece, instead, and from there to the heart of Europe, will cost Israel more time and money. "Clearly, the degradation of Turkish-Israeli relations was extremely ill-timed for the latter's energy export ambitions," the writer added. Suddenly, Cyprus emerges as a "strategic player", sitting at the crossroads of the region's energy export routes.

Lebanon, for its part, was too slow in acting on its potential gas reserves. "It is only recently that the government and the parliament moved to issue legislation permitting international energy corporations to start prospecting in Lebanon's waters," the writer said.

Now the race is on for American, European, Russian, Chinese, Japanese and Brazilian corporations interested in Lebanon's possible energy reserves. "Given the nature of the coalition government in Lebanon … contracts will necessarily go to a variety of companies."

Hizbollah and its allies will lean towards the Russians while the prime minister will defend French and US bids.

It all goes to show how energy will yet again play a key role in the region's geopolitical future.

Arabs must save Syria to save themselves

There is no doubt that the Syrian revolution did not erupt in protest of the regional role of Damascus and its Arab commitments, said Dr Bashir Mousa Nafie in a column for Al Quds Al Arabi.

"The Syrian revolution erupted for domestic factors, political, economic, social factors and the imbalanced relationship between the regime and the people."

Because the Syrian regime, over the years, had taken a commendable stance especially towards the Arab-Israeli conflict and the resistance in Palestine and Lebanon, there has been a tendency to ignore or overlook the current bloody situation.

But this is a misguided approach, the writer added. There is a need for an Arab, popular and official, to put an end to the situation in Syria in favour of the people and its revolution.

Syria has been an arena for conflict and competition due to its location, history and culture, and not because of any economic or military power.

There is a historic opportunity for Arabs to regain, as a nation or cooperating nations, their role on the world's stage; this opportunity has not presented itself since the World War I.

A failing Iraq is still having an impact on the region. As Syria has always been central to any Arab role, the writer said, the emergence of Syria from the current war with minimal losses is vital for any Arab rise.

Yemen needs friends in transition as well

Developments in Yemen are happening so fast these days, and as they do, room for optimism is shrinking just as fast, stated the Dubai-based newspaper Al Bayan in an editorial yesterday.

"The current standoff between the Yemeni president, Abdrabu Mansour Hadi, and the supporters of his predecessor, Ali Abdullah Saleh, threatens to bring the new government to its knees, sending Yemen back to the interim period," the paper argued.

Going back to square one will shake up the Yemeni people's confidence that change is possible at all. President Hadi came into office as a representative of all Yemenis. Trying now to make him act like the lap dog of the outgoing president "in no way helps Yemen get out of the bottleneck", the newspaper noted.

As President Hadi is trying to stamp out the entrenched influence of his predecessor in Yemen's sovereign institutions, Mr Saleh is trying hard to pull the strings - through members of the cabinet still faithful to him - in order to make the crisis in Yemen linger long enough to show President Hadi incompetent.

Yemen's friends - namely the GCC states - who saw the deal for Mr Saleh's departure through must not leave Yemen on its own at this time. Not until the "whole President Saleh file" is definitively closed.

* Digest compiled by Achraf El Bahi

IF YOU GO
 
The flights: FlyDubai offers direct flights to Catania Airport from Dubai International Terminal 2 daily with return fares starting from Dh1,895.
 
The details: Access to the 2,900-metre elevation point at Mount Etna by cable car and 4x4 transport vehicle cost around €57.50 (Dh248) per adult. Entry into Teatro Greco costs €10 (Dh43). For more go to www.visitsicily.info

 Where to stay: Hilton Giardini Naxos offers beachfront access and accessible to Taormina and Mount Etna. Rooms start from around €130 (Dh561) per night, including taxes.

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

'Unrivaled: Why America Will Remain the World’s Sole Superpower'
Michael Beckley, Cornell Press

Major matches on Manic Monday

Andy Murray (GBR) v Benoit Paire (FRA)

Grigor Dimitrov (BGR) v Roger Federer (SUI)

Rafael Nadal (ESP) v Gilles Muller (LUX)

Adrian Mannarino (FRA) Novak Djokovic (SRB)

Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

NBA FINALS SO FAR

(Toronto lead 3-2 in best-of-seven series)

Game 1 Raptors 118 Warriors 109

Game 2 Raptors 104 Warriors 109

Game 3 Warriors 109 Raptors 123

Game 4 Warriors 92 Raptors 105

Game 5 Raptors 105 Warriors 106

Game 6 Thursday, at Oakland

Game 7 Sunday, at Toronto (if needed)

RESULTS - ELITE MEN

1. Henri Schoeman (RSA) 57:03
2. Mario Mola (ESP) 57:09
3. Vincent Luis (FRA) 57:25
4. Leo Bergere (FRA)57:34
5. Jacob Birtwhistle (AUS) 57:40    
6. Joao Silva (POR) 57:45   
7. Jonathan Brownlee (GBR) 57:56
8. Adrien Briffod (SUI) 57:57           
9. Gustav Iden (NOR) 57:58            
10. Richard Murray (RSA) 57:59       

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UAE currency: the story behind the money in your pockets
Skewed figures

In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458. 

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Groom and Two Brides

Director: Elie Semaan

Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

Our Time Has Come
Alyssa Ayres, Oxford University Press

 

Company: Instabug

Founded: 2013

Based: Egypt, Cairo

Sector: IT

Employees: 100

Stage: Series A

Investors: Flat6Labs, Accel, Y Combinator and angel investors

At Eternity’s Gate

Director: Julian Schnabel

Starring: Willem Dafoe, Oscar Isaacs, Mads Mikkelsen

Three stars

Infiniti QX80 specs

Engine: twin-turbocharged 3.5-liter V6

Power: 450hp

Torque: 700Nm

Price: From Dh450,000, Autograph model from Dh510,000

Available: Now

List of alleged parties
  • May 15 2020: Boris Johnson is said to have attended a Downing Street pizza party
  • 27 Nov 2020: PM gives speech at leaving do for his staff
  • Dec 10 2020: Staff party held by then-education secretary Gavin Williamson 
  • Dec 13 2020: Mr Johnson and his then-fiancee Carrie Symonds throw a flat party
  • Dec 14 2020: Shaun Bailey holds staff party at Conservative Party headquarters 
  • Dec 15 2020: PM takes part in a staff quiz
  • Dec 18 2020: Downing Street Christmas party 
What is a robo-adviser?

Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.

These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.

Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.

Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.

Tips for job-seekers
  • Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
  • Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.

David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East

Analysis

Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more

The biog

Name: Salem Alkarbi

Age: 32

Favourite Al Wasl player: Alexandre Oliveira

First started supporting Al Wasl: 7

Biggest rival: Al Nasr

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What is Genes in Space?

Genes in Space is an annual competition first launched by the UAE Space Agency, The National and Boeing in 2015.

It challenges school pupils to design experiments to be conducted in space and it aims to encourage future talent for the UAE’s fledgling space industry. It is the first of its kind in the UAE and, as well as encouraging talent, it also aims to raise interest and awareness among the general population about space exploration. 

THREE
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