International action on Syria is becoming inevitable as the regime continues to stall
The last week has been busy on the international initiatives front as Russia, the Arab League and Iraq have come up with three different proposals to resolve the ten-month-long crisis in Syria, editor Tariq Al Homayed noted in the London-based newspaper Asharq Al Awsat.
Does this mean we are seeing an initiative competition, the editor asked, or is it that the Arabs have finally become convinced that the Assad regime isn't about to stop manoeuvring anytime soon?
"Evidently there is no way to provide a firm answer to this question. But a close look into the details may help in reaching an acceptable analysis.
"The Arab ministerial meeting on Syria in Doha [Saturday] was mainly just a of a time-killing ploy by the Assad regime."
It is true that no representative of the regime was present at the meeting, but it had some staunch supporters there, namely the Algerian foreign minister who repeatedly threatened to withdraw from the proceedings.
Furthermore, the meeting saw a lengthy debate about the semantics of the Arab League's proposed protocol, which still awaits ratification by the Syrian side.
In fact, it is said that the new point of divergence between the Syrian authorities and the Arab committee is about the concept of "protection of citizens" that the Arab committee insists on modifying into "the protection of civilians or unarmed citizens".
"This debate in itself shows that the Damascus regime is anything but serious [about the Arab initiative], especially since bloodshed … is on the rise with approximately 50 new casualties everyday," the writer noted.
It is clear that the Syrian authorities have no intention of stopping the killing machine. They persevere in their obstinate rejection of any type of solution, and not only with Arabs.
Informed resources confirmed that Russia attempted to pressure the Syrian regime to sign the Arab initiative, but to no avail.
The Iraqi government too tried its hand. An Iraqi delegation had a series "positive" talks with the Syrian president and members of the opposition, and proposed yet another initiative.
This one is said to include a freeze on the Arab sanctions against Damascus, dialogue and the termination of violence.
However, the Syrian opposition's reaction to the Iraqi proposal wasn't at all positive; the Syrian National Council said Iraq is too "unqualified and biased" to mediate in the crisis.
One truth remains, the writer concluded: any attempt to find a solution under exclusively Arab patronage will be futile. "Not only should the Arab initiative be transferred to the UN Security Council, but a true diplomatic campaign should be launched to guarantee quick international action to save Syrian civilians," he suggested.
Libya's new leaders must make tough calls
Friday's UN Security Council decision to lift sanctions on the Libyan Central Bank and its foreign investment arm paves the way for the unfreezing of the country's assets abroad, which are valued at tens of billions of dollars, the Emirati newspaper Al Bayan noted in its editorial yesterday.
The unfreezing will alleviate a severe liquidity crisis in Libya. But it will also be a test for the Libyan interim government's ability to restore social confidence and stability, the paper said.
"The National Transitional Council has been in need of [funds] for a long time now. It has been struggling to pay employees and workers."
But now there are tougher challenges than helping civil servants get through the day, the paper went on.
Topping that list of challenges is rebuilding the infrastructure of this oil-rich but still-fragile, country.
To see that through, Libya needs its best brains and sturdiest politicians - "all those who can accurately interpret the international state of affairs and have no fear of making the toughest calls so long as they protect the national interests of Libya," the paper said.
More concretely, Libya's foreign policy chiefs must have the resolve to object to three things: foreign military presence; long-term military agreements; and long-term oil exploitation deals.
US exit from Iraq is fake and deceptive
The United States officially ended its war in Iraq on Thursday, and marked the event with "the most fake and most deceptive show", wrote Abdelbari Atwan, editor of the pan-Arab newspaper Al Quds Al Arabi, in a front-page column.
"Fake, because the war in Iraq simply has not yet ended. Explosions, booby-trapped cars and general insecurity are still part of business as usual in this afflicted country," the editor said.
"As to deception, it is in American claims that the mission for which US troops have invaded the country - that is, to stamp out dictatorship and terrorism - has been accomplished."
For his part, the US President Barack Obama told US troops that they should exit with "their heads held high".
"We just can't understand how they should be holding their heads high if they are leaving behind the most corrupt country on the face of the planet," the editor said, "a country that is incapable of offering its people basic services like water, electricity and education."
Iraq today is ruled by a sectarian dictatorship, the editor added. Answering a question about how he defines himself, the Iraqi prime minister, Nouri Al Maliki, said barely a week ago that he thinks of himself first as a Shiite; second as an Iraqi.
* Digest compiled by The Translation Desk
translation@thenational.ae
Tips to keep your car cool
- Place a sun reflector in your windshield when not driving
- Park in shaded or covered areas
- Add tint to windows
- Wrap your car to change the exterior colour
- Pick light interiors - choose colours such as beige and cream for seats and dashboard furniture
- Avoid leather interiors as these absorb more heat
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
David Haye record
Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4
OPINIONS ON PALESTINE & ISRAEL
Full Party in the Park line-up
2pm – Andreah
3pm – Supernovas
4.30pm – The Boxtones
5.30pm – Lighthouse Family
7pm – Step On DJs
8pm – Richard Ashcroft
9.30pm – Chris Wright
10pm – Fatboy Slim
11pm – Hollaphonic
The candidates
Dr Ayham Ammora, scientist and business executive
Ali Azeem, business leader
Tony Booth, professor of education
Lord Browne, former BP chief executive
Dr Mohamed El-Erian, economist
Professor Wyn Evans, astrophysicist
Dr Mark Mann, scientist
Gina MIller, anti-Brexit campaigner
Lord Smith, former Cabinet minister
Sandi Toksvig, broadcaster
Tickets
Tickets start at Dh100 for adults, while children can enter free on the opening day. For more information, visit www.mubadalawtc.com.
ACL Elite (West) - fixtures
Monday, Sept 30
Al Sadd v Esteghlal (8pm)
Persepolis v Pakhtakor (8pm)
Al Wasl v Al Ahli (8pm)
Al Nassr v Al Rayyan (10pm)
Tuesday, Oct 1
Al Hilal v Al Shorta (10pm)
Al Gharafa v Al Ain (10pm)
What sanctions would be reimposed?
Under ‘snapback’, measures imposed on Iran by the UN Security Council in six resolutions would be restored, including:
- An arms embargo
- A ban on uranium enrichment and reprocessing
- A ban on launches and other activities with ballistic missiles capable of delivering nuclear weapons, as well as ballistic missile technology transfer and technical assistance
- A targeted global asset freeze and travel ban on Iranian individuals and entities
- Authorisation for countries to inspect Iran Air Cargo and Islamic Republic of Iran Shipping Lines cargoes for banned goods
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
Auron Mein Kahan Dum Tha
Starring: Ajay Devgn, Tabu, Shantanu Maheshwari, Jimmy Shergill, Saiee Manjrekar
Director: Neeraj Pandey
Rating: 2.5/5
Checks continue
A High Court judge issued an interim order on Friday suspending a decision by Agriculture Minister Edwin Poots to direct a stop to Brexit agri-food checks at Northern Ireland ports.
Mr Justice Colton said he was making the temporary direction until a judicial review of the minister's unilateral action this week to order a halt to port checks that are required under the Northern Ireland Protocol.
Civil servants have yet to implement the instruction, pending legal clarity on their obligations, and checks are continuing.
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills