President Turkish President Recep Tayyip Erdogan, centre, Syrian President Bashar Al Assad, right, and Russian President Vladimir Putin. AFP / Reuters
President Turkish President Recep Tayyip Erdogan, centre, Syrian President Bashar Al Assad, right, and Russian President Vladimir Putin. AFP / Reuters
President Turkish President Recep Tayyip Erdogan, centre, Syrian President Bashar Al Assad, right, and Russian President Vladimir Putin. AFP / Reuters
President Turkish President Recep Tayyip Erdogan, centre, Syrian President Bashar Al Assad, right, and Russian President Vladimir Putin. AFP / Reuters

Assad willing to meet Erdogan on condition Turkey withdraws from Syria


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Syrian President Bashar Al Assad told Russian RIA-Novosti news agency that talks with Turkish President Recep Tayyip Erdogan are incumbent on Turkey's full withdrawal from Syria.

Mr Al Assad spoke to the agency during a visit to the Russian capital Moscow, which began on Wednesday.

"[Any meeting] is linked to our reaching the point when Turkey is ready — fully and without any uncertainty — for a complete withdrawal from Syrian territory," Mr Assad told Ria-Novosti.

"This is the only way in which my meeting with Erdogan could take place."

Turkey and Syria each accuse the other of supporting terrorists that threaten cross border security.

Last year, Mr Erdogan signalled that he was ready to meet his Syrian counterpart in a trilateral summit with Russia. Russia has been Syria's biggest backer during the 12-year conflict.

An unnamed Turkish Foreign Ministry spokesman told Reuters that a ministerial meeting between Syria, Russia, Turkey and Iran had been postponed for "technical reasons". The meeting was scheduled to take place on March 15 and 16, Turkish state news agency Anadolu reported on Monday.

Rapprochement between Syria and Turkey angered many of the four million Syrian refugees relying on Turkey to support them against the Al Assad regime.

Turkey has asked Russia for assistance in creating a "buffer zone" along its border that would clear it of Kurdish militias that Turkey categorises as terrorists.

Ankara has accused the US-backed Syrian Democratic Forces (SDF) of working with the separatist Kurdistan Workers' Party (PKK) to commit terrorist attacks in Turkey, including a November 13 bombing in Istanbul that killed six people.

Both groups deny any role in the attack, which led to a Turkish air campaign against their positions in Syria and northern Iraq, killing at least 100 people, mostly militia fighters. Syria has condemned the Turkish moves, which it says are a breach of Syria's sovereignty.

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Retirement funds heavily invested in equities at a risky time

Pension funds in growing economies in Asia, Latin America and the Middle East have a sharply higher percentage of assets parked in stocks, just at a time when trade tensions threaten to derail markets.

Retirement money managers in 14 geographies now allocate 40 per cent of their assets to equities, an 8 percentage-point climb over the past five years, according to a Mercer survey released last week that canvassed government, corporate and mandatory pension funds with almost $5 trillion in assets under management. That compares with about 25 per cent for pension funds in Europe.

The escalating trade spat between the US and China has heightened fears that stocks are ripe for a downturn. With tensions mounting and outcomes driven more by politics than economics, the S&P 500 Index will be on course for a “full-scale bear market” without Federal Reserve interest-rate cuts, Citigroup’s global macro strategy team said earlier this week.

The increased allocation to equities by growth-market pension funds has come at the expense of fixed-income investments, which declined 11 percentage points over the five years, according to the survey.

Hong Kong funds have the highest exposure to equities at 66 per cent, although that’s been relatively stable over the period. Japan’s equity allocation jumped 13 percentage points while South Korea’s increased 8 percentage points.

The money managers are also directing a higher portion of their funds to assets outside of their home countries. On average, foreign stocks now account for 49 per cent of respondents’ equity investments, 4 percentage points higher than five years ago, while foreign fixed-income exposure climbed 7 percentage points to 23 per cent. Funds in Japan, South Korea, Malaysia and Taiwan are among those seeking greater diversification in stocks and fixed income.

• Bloomberg

Women’s World T20, Asia Qualifier

UAE results
Beat China by 16 runs
Lost to Thailand by 10 wickets
Beat Nepal by five runs
Beat Hong Kong by eight wickets
Beat Malaysia by 34 runs

Standings (P, W, l, NR, points)

1. Thailand 5 4 0 1 9
2. UAE 5 4 1 0 8
3. Nepal 5 2 1 2 6
4. Hong Kong 5 2 2 1 5
5. Malaysia 5 1 4 0 2
6. China 5 0 5 0 0

Final
Thailand v UAE, Monday, 7am

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Infobox

Western Region Asia Cup Qualifier, Al Amerat, Oman

The two finalists advance to the next stage of qualifying, in Malaysia in August

Results

UAE beat Iran by 10 wickets

Kuwait beat Saudi Arabia by eight wickets

Oman beat Bahrain by nine wickets

Qatar beat Maldives by 106 runs

Monday fixtures

UAE v Kuwait, Iran v Saudi Arabia, Oman v Qatar, Maldives v Bahrain

JUDAS AND THE BLACK MESSIAH

Directed by: Shaka King

Starring: Daniel Kaluuya, Lakeith Stanfield, Jesse Plemons

Four stars

Updated: March 16, 2023, 10:45 AM