Iran has said it will keep UN-installed monitoring cameras at nuclear sites switched off until a new deal on its programmes can be struck, state media reported the head of the country's Atomic Energy Organisation as saying on Monday.
The UN body that monitors nuclear programmes, the International Atomic Energy Agency, installed monitoring equipment at sites where uranium was being enriched to agreed upon levels following the 2015 nuclear deal, known as the Joint Comprehensive Plan of Action.
In 2018, former US president Donald Trump pulled out of the deal, which had relaxed sanctions in exchange for UN monitoring of nuclear sites.
We will decide about the cameras added under the nuclear deal after the westerners return to the accord
Mohammad Eslami,
Atomic Energy Organisation of Iran
The US reimposed sanctions, but the European Union and Britain tried to keep the deal alive, and some monitoring equipment remained at Iranian nuclear sites.
On Monday, Iranian nuclear chief Mohammad Eslami said Iran would not agree to address reportedly unexplained uranium traces, as demanded by the IAEA, and added that the 2015 nuclear deal had cleared Tehran of “possible military dimensions” (PMD) allegations.
Iran says its nuclear programme is for civilian purposes only.
In June, the IAEA's 35-nation board of governors overwhelmingly passed a resolution criticising Iran for failing to explain uranium traces found at three undeclared sites.
“The claimed PMD cases and locations were closed under the nuclear accord and if [the West is] sincere, [it] should know that closed items will not be reopened,” Mr Eslami was quoted by state media as saying.
“The basis of the nuclear accord was a response to these alleged cases.”
Iran informed the agency that it had removed its equipment, including 27 cameras installed under the 2015 deal, after it passed the resolution criticising Tehran.
“We will not turn on the IAEA cameras until the other side returns to the nuclear deal,” Mr Eslami said.
“We will decide about the … cameras added under the nuclear deal after the westerners return to the accord and we are sure they won't do anything mischievous.”
Iran's foreign ministry spokesman Nasser Kanaani on Monday accused IAEA chief Rafael Grossi of having “unprofessional, unfair and unconstructive views” on Tehran's nuclear programme.
The programme is “galloping ahead” and the agency has very limited visibility on what is happening, Mr Grossi said in an interview published on Friday.
Western powers say Iran is getting closer to being able to sprint towards making a nuclear bomb. Indirect talks between Iran and the US on reviving the deal have been stalled since March.
The nuclear pact seemed near revival, but talks were thrown into disarray partly over whether the US would remove Iran's Islamic Revolutionary Guard Corps from its list of foreign terrorist organisations.
The IRGC controls elite armed and intelligence forces that Washington has accused of running a global terrorism campaign.
US President Joe Biden's administration has made clear it has no plan to drop the IRGC from the list, a step that would have limited practical effect but which would anger many in Congress.
SCHEDULE
December 8: UAE v USA (Sharjah Cricket Stadium)
December 9: USA v Scotland (Sharjah Cricket Stadium)
December 11: UAE v Scotland (Sharjah Cricket Stadium)
December 12: UAE v USA (ICC Academy Oval 1)
December 14: USA v Scotland (ICC Academy Oval 1)
December 15: UAE v Scotland (ICC Academy Oval 1)
All matches start at 10am
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 to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
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Company%20Profile
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MEYDAN CARD
6.30pm Maiden Dh165,000 (Dirt) 1,600m
7.05pm Conditions Dh240,000 (D) 1,600m
7.40pm Handicap Dh190,000 (D) 2,000m
8.15pm Handicap Dh170,000 (D) 2,200m
8.50pm The Entisar Listed Dh265,000 (D) 2,000m
9.25pm The Garhoud Sprint Listed Dh265,000 (D) 1,200m
10pm Handicap Dh185,000 (D) 1,400m
The National selections
6.30pm Majestic Thunder
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7.40pm Mark Of Approval
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8.50pm Gronkowski
9.25pm Walking Thunder
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Results:
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Winner: Al Tiryaq, Dane O’Neill (jockey), Abdullah Al Hammadi (trainer).
5.30pm: Al Zahra Handicap (rated 0-45) Dh 80,000 1,400m:
Winner: Fahadd, Richard Mullen, Ahmed Al Mehairbi.
6pm: Al Ras Al Akhdar Maiden Dh80,000 1,600m.
Winner: Jaahiz, Jesus Rosales, Eric Lemartinel.
6.30pm: Al Reem Island Handicap Dh90,000 1,600m.
Winner: AF Al Jahed, Antonio Fresu, Ernst Oertel.
7pm: Al Khubairah Handicap (TB) 100,000 2,200m.
Winner: Empoli, Pat Dobbs, Doug Watson.
7.30pm: Wathba Stallions Cup Handicap Dh80,000 2,200m.
Winner: Shivan OA, Patrick Cosgrave, Helal Al Alawi.
MATCH INFO
Sheffield United 3
Fleck 19, Mousset 52, McBurnie 90
Manchester United 3
Williams 72, Greenwood 77, Rashford 79
The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
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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
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- 600-seat auditorium
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- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
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- Disruption Lab and Research Centre for developing entrepreneurial skills
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
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