The Arab League is boldly pursuing hopes of resolving the Syrian crisis, declaring only a “political solution” will work.
However, the intractability of the problems facing the nation, the conflicting interests of stakeholders and a diplomatic landscape complicated by the Ukraine war could mean it will be years before any tangible progress is made, political analysts say.
Offering a glimpse of hope, a five-nation Arab League committee set up in May to oversee the re-establishment of relations with Syria on Tuesday said a meeting of a dormant, Geneva-based committee mandated with drafting a new constitution for Syria will meet in Oman before the end of the year.
Like other countries swept up in the 2010-11 Arab uprisings, Syria’s fate remains unresolved, with Iran, Russia, Turkey and the US clinging to slices of the country they carved out for themselves, while Arab influence over the nation has waned in the past decade.
“A political solution is the only formula to resolve the Syrian crisis,” said a declaration issued by the foreign ministers of the five nations making up the Arab League committee – Saudi Arabia, Egypt, Jordan, Iraq and Lebanon – after their first meeting in Cairo on Tuesday.
That assertion that a political solution is the only viable one for Syria is designed in large part to discourage President Bashar Al Assad's government from using force to recapture areas in the north of the country held by rebels.
Anis Salem, a former Egyptian diplomat who closely monitors Syria, said the Arab League had a "limited role" in shepherding a resolution to the Syrian crisis.
But "it's providing an avenue for reintegrating Damascus in the Arab regional system and rebalancing the multiple foreign parties that are involved in Syria”, he said.
“The complexity of the Syrian dilemma lies in how to engineer a credible political order that brings together the various internal parties,” said Mr Salem, who now sits on the Egyptian Council for Foreign Affairs.
Significantly, Tuesday's declaration made no mention of the opposition, which accounts for one third of the 150-member constitutional committee. Mr Al Assad's loyalists constitute another third, with the remainder composed of Syrians appointed by the UN.
Syrian political commentator Ayman Abdelnour said the reference to the constitutional committee was the main politically concrete part of the declaration.
“Other than that it contains nothing positive, nor negative,” he said. “The Arab countries don’t want to appear negative so the regime would stop attending".
Too much praise for Damascus and “the regime will come to the Arab countries wanting a price”, Mr Abdelnour added.
Russia, Mr Assad’s main backer, has insisted the UN-supervised meeting of the committee be moved to Oman or any other country, arguing it did not see Geneva as a neutral venue.
It highlights the influence of foreign players in the Syrian crisis.
The committee has not met since May last year and no significant proposal was adopted in its previous eight meetings.
But it is not clear whether Turkey, a main supporter of the Syrian opposition and another major stakeholder in Syria, has agreed to the shift of venue.
Turkey repelled a Russian-supported offensive in 2020 to take back the rebel-controlled region of Idlib in north-west Syria, placing the Turks and Russians on the brink of military confrontation.
Mr Al Assad's forces also keep away from the north-east of the country that is controlled by US-supported Kurdish forces.
The re-engagement of the Arab League member states in the Syrian crisis comes as relations improve between Arab powers and Ankara.
It ends an eight-year hiatus by an organisation that has over the years gained a reputation for being a little more than a talking shop and not an effective player such as the EU or the Gulf Co-operation Council (GCC).
Its bold attempt to send peacekeepers to Syria during the early days of the civil war proved ineffective, forcing the Cairo-based organisation to back off and instead throw Syria out of the group for its violent response to pro-democracy protests.
Still, the Arab League's re-entry into the Syrian crisis is seen widely as commendable and ambitious, given the changed geopolitical landscape in the region dominated by non-Arab powers with more sway over the combatants.
In May, Mr Al Assad was invited to an Arab League summit in Saudi Arabia. Riyadh and other Arab nations later agreed further support for Damascus hinged on reciprocity from the Syrian President.
Mr Al Assad's ostracisation followed the violent suppression of a peaceful 2011 revolt against his rule but by the end of that tumultuous year, Syria was in a fully fledged civil war.
Several Arab countries supported rebel groups fighting against the government and its loyalist forces and pro-Iranian Shiite militias in the ensuing conflict. But that changed when Russia intervened in 2015 on the side of the government, helping to ensure the survival of a regime teetering on the brink of collapse, as the rebels closed in on Mr Assad's stronghold in Damascus.
The Russian intervention forced western and Arab support for the rebels to cease, allowing Moscow to dominate the international diplomacy on Syria. But Washington re-entered the scene last year, after the Russian invasion of Ukraine altered the US posture in the Middle East.
In yet another demonstration of Russian power, a transitional period that was supposed to precede the drafting of a new Syrian constitution has been largely ignored.
Russia carved its own track on Syria, forming in 2016, with US and UN blessing, the Astana track, composed of Russia, Turkey and Iran.
While lacking cohesion between Moscow and Ankara, the Astana participants are united in their opposition to US military presence in Syria.
Khaled Al Helou, a former judge and member of the opposition’s constitutional committee, said the five-nation Arab committee was seeking to play an interlocutor role to narrow differences over Syria between the US and Russia.
The Arab states, he said, were acting “as if they have a mandate from everyone to solve the Syrian issue".
“In reality it is more difficult than that,” Mr Al Helou said. “But if the constitutional committee meets, it means that the Arabs are [succeeding in] mediating between the West and the Astana group.”
In the declaration that followed the committee's meeting in Cairo, the five Arab ministers welcomed a decision by the Syrian authorities to renew humanitarian access to rebel-held regions in the country's north.
They also said they “look forward to continuing and intensifying joint co-operation” with Damascus on curbing drug smuggling.
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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.”
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How the UAE gratuity payment is calculated now
Employees leaving an organisation are entitled to an end-of-service gratuity after completing at least one year of service.
The tenure is calculated on the number of days worked and does not include lengthy leave periods, such as a sabbatical. If you have worked for a company between one and five years, you are paid 21 days of pay based on your final basic salary. After five years, however, you are entitled to 30 days of pay. The total lump sum you receive is based on the duration of your employment.
1. For those who have worked between one and five years, on a basic salary of Dh10,000 (calculation based on 30 days):
a. Dh10,000 ÷ 30 = Dh333.33. Your daily wage is Dh333.33
b. Dh333.33 x 21 = Dh7,000. So 21 days salary equates to Dh7,000 in gratuity entitlement for each year of service. Multiply this figure for every year of service up to five years.
2. For those who have worked more than five years
c. 333.33 x 30 = Dh10,000. So 30 days’ salary is Dh10,000 in gratuity entitlement for each year of service.
Note: The maximum figure cannot exceed two years total salary figure.
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Liverpool 2 (Mane 50', 54')
Red card: Andreas Christensen (Chelsea)
Man of the match: Sadio Mane (Liverpool)
TICKETS
Tickets start at Dh100 for adults, while children can enter free on the opening day. For more information, visit www.mubadalawtc.com.
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1. Lewis Hamilton, Mercedes - 263
2. Sebastian Vettel, Ferrari - 235
3. Valtteri Bottas, Mercedes - 212
4. Daniel Ricciardo, Red Bull - 162
5. Kimi Raikkonen, Ferrari - 138
6. Sergio Perez, Force India - 68
Brief scores:
Pakistan (1st innings) 181: Babar 71; Olivier 6-37
South Africa (1st innings) 223: Bavuma 53; Amir 4-62
Pakistan (2nd innings) 190: Masood 65, Imam 57; Olivier 5-59
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Innovator Founder Visa is aimed at those who can demonstrate relevant experience in business and sufficient investment funds to set up and scale up a new business in the UK. It offers permanent residence after three years.
Germany
Investing or establishing a business in Germany offers you a residence permit, which eventually leads to citizenship. The investment must meet an economic need and you have to have lived in Germany for five years to become a citizen.
Italy
The scheme is designed for foreign investors committed to making a significant contribution to the economy. Requires a minimum investment of €250,000 which can rise to €2 million.
Switzerland
Residence Programme offers residence to applicants and their families through economic contributions. The applicant must agree to pay an annual lump sum in tax.
Canada
Start-Up Visa Programme allows foreign entrepreneurs the opportunity to create a business in Canada and apply for permanent residence.
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The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
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Director: Joseph Kosinski
Rating: 4/5
In-demand jobs and monthly salaries
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