Iraq's security should be an internal issue, says an Arabic newspaper.


  • English
  • Arabic

Egyptian protesters found a new tactic

"Last Sunday gunshots were heard again, but this time fired in the air to disperse protesters who came in hundreds, threatening to block the Suez Canal," wrote Abdul Rahman al Rashed in a commentary for the pan-Arab newspaper Asharq al Awsat.

The Egyptian military could not have expected threats from the people to close the main strategic waterway in the region. The canal has been the cause of three regional wars, and now is an important source of income for Egypt. The most recent statistics say it generates $500 million (Dh1.84 billion) per month - at a time when revenues from tourism and industry have dropped sharply.

Apparently the angry youth decided to change tactics after realising that rallying in Tahrir Square is no longer effective. By doing this, they hoped to put more pressure not only on their own government but also on foreign countries.

This may lead to two complications. First, major powers might exert pressure on the military council to meet the protesters' demands, in a bid to avoid an international crisis. Second, the worse scenario, they might ask the council to quell the youth rebellion and start a new phase.

It was smart of the young Egyptians to find this way to energise their demands, yet it is risky too. So far they have failed to transform their movement into a party, and their popularity is declining steadily compared to that of the Muslim Brotherhood.

Israel would like to trap Lebanon on oil

Lebanon needed no additional reasons to perpetuate the conflict with Israel, noted Satea Noureddine in an opinion piece for the Lebanese daily Assafir.

Israel opted for opening a new front of conflict when it insisted on its sovereignty over offshore oil and gas in the Eastern Mediterranean. This time Israel does not want to launch a new war, but to force Lebanon to agree on a treaty to formulate an agreement on sharing this wealth.

When Israelis discovered oil and gas there, they highlighted the fact that those fields extend into the territorial waters of Lebanon. They could have hidden this geographical truth, or ignored it altogether.

As soon as Israel discovered this oil and gas, it announced that Lebanon has some rights in the field. This seems suspicious.

This move could not be attributed to a conscious show of respect for Lebanon, or an Israeli attitude that is compliant with international law. Nor was it due to an arrangement with the US company Nobel Energy, which did the exploring.

The recognised Lebanese quota is marginal, in comparison to Israel's, which will make it the fourth world producer after Russia, Iran and Qatar.

Israel will indirectly force Lebanon to seek international arbitration, which might last years, about the maritime border.

Meanwhile, Israel will continue exploiting and exporting the Mediterranean's wealth.

Qaddafi's ridiculous contact with Israel

Colonel Muammar Qaddafi was short of solutions when he sent representatives to Israel to polish the image of his regime, in conflict with his known slogans, noted the Emirati newspaper Akhbar al Arab in its editorial.

Would it not have been better for him to have approached Washington and pledged that he is ready to change the image of his country. Apparently he thought that a way to save his regime would be through Israel.

Certainly Israel should have welcomed this visit. Yet it may be thinking what to do with such a battered leader as Col Qaddafi. Israel will principally look into possible gains in establishing relations with a regime with no legitimacy at all.

Nor will Libyans accept his son, Saif El Islam, who is believed to have arranged this visit.

Israel is not able to save a regime, stripped of all forms of legality, against which Libyans have revolted. Meanwhile the National Transitional Council leads the national movement and has earned international recognition as the legitimate representative of the Libyan people.

Counting on Israel is absurd. He should rather address Libyans to save the country from further destruction and foreign intervention. He should look at examples of leaders such as Nelson Mandela - although there is a big difference between the two - who chose to give up power in the best interest of his country.

Iraq's security should be an internal issue

With the US withdrawal from Iraq scheduled for the end of this year, there are intensified efforts to conclude an agreement among various political blocs.

Many Iraqis believe the result will show whether Iraqis have truly overcome occupation, the UAE newspaper Al Bayan argued in its editorial.

Many Iraqis are still pessimistic about the future of their country. They particularly put into question the high price they have paid in return for the democracy project the US was advocating.

After years of occupation, the economic, security and political situation in Iraq is still bad, raising concern about national unity.

Many politicians are calling for a political system based on a federation and multiple sources of decision-making.

The US is likely to leave behind a weak and divided government. On the security level, attacks still rock Iraqi streets almost daily, raising concerns about the return of insurgent operations.

"Nevertheless, the US withdrawal is necessary and is a good step provided that Iraqi forces can fill the security vacuum and prevent foreign intervention …

"Security should be an internal issue for Iraqis."

* Digest compiled by Mostapha El Mouloudi

MOUNTAINHEAD REVIEW

Starring: Ramy Youssef, Steve Carell, Jason Schwartzman

Director: Jesse Armstrong

Rating: 3.5/5

COMPANY PROFILE

Name: Lamsa

Founder: Badr Ward

Launched: 2014

Employees: 60

Based: Abu Dhabi

Sector: EdTech

Funding to date: $15 million

The specs: 2019 Infiniti QX50

Price, base: Dh138,000 (estimate)
Engine: 2.0L, turbocharged, in-line four-cylinder
Transmission: Continuously variable transmission
Power: 268hp @ 5,600rpm
Torque: 380Nm @ 4,400rpm
Fuel economy: 6.7L / 100km (estimate)

INDIA SQUAD

Rohit Sharma (captain), Shikhar Dhawan (vice-captain), KL Rahul, Suresh Raina, Manish Pandey, Dinesh Karthik (wicketkeeper), Deepak Hooda, Washington Sundar, Yuzvendra Chahal, Axar Patel, Vijay Shankar, Shardul Thakur, Jaydev Unadkat, Mohammad Siraj and Rishabh Pant (wicketkeeper)

ATP WORLD No 1

2004 Roger Federer

2005 Roger Federer

2006 Roger Federer

2007 Roger Federer

2008 Rafael Nadal

2009 Roger Federer

2010 Rafael Nadal

2011 Novak Djokovic

2012 Novak Djokovic

2013 Rafael Nadal

2014 Novak Djokovic

2015 Novak Djokovic

2016 Andy Murray

2017 Rafael Nadal

2018 Novak Djokovic

2019 Rafael Nadal

Mobile phone packages comparison

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.”

Scream%20VI
%3Cp%3E%3Cstrong%3EDirectors%3A%3C%2Fstrong%3E%20Matt%20Bettinelli-Olpin%20and%20Tyler%20Gillett%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Melissa%20Barrera%2C%20Jasmin%20Savoy%20Brown%2C%20Jack%20Champion%2C%20Dermot%20Mulroney%2C%20Jenna%20Ortega%2C%20Hayden%20Panettiere%20and%20Courteney%20Cox%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A
Dates for the diary

To mark Bodytree’s 10th anniversary, the coming season will be filled with celebratory activities:

  • September 21 Anyone interested in becoming a certified yoga instructor can sign up for a 250-hour course in Yoga Teacher Training with Jacquelene Sadek. It begins on September 21 and will take place over the course of six weekends.
  • October 18 to 21 International yoga instructor, Yogi Nora, will be visiting Bodytree and offering classes.
  • October 26 to November 4 International pilates instructor Courtney Miller will be on hand at the studio, offering classes.
  • November 9 Bodytree is hosting a party to celebrate turning 10, and everyone is invited. Expect a day full of free classes on the grounds of the studio.
  • December 11 Yogeswari, an advanced certified Jivamukti teacher, will be visiting the studio.
  • February 2, 2018 Bodytree will host its 4th annual yoga market.

Premier Futsal 2017 Finals

Al Wasl Football Club; six teams, five-a-side

Delhi Dragons: Ronaldinho
Bengaluru Royals: Paul Scholes
Mumbai Warriors: Ryan Giggs
Chennai Ginghams: Hernan Crespo
Telugu Tigers: Deco
Kerala Cobras: Michel Salgado