Jordan's King Abdullah II succeeded his father, the late King Hussein, in 1999. AFP
Jordan's King Abdullah II succeeded his father, the late King Hussein, in 1999. AFP
Jordan's King Abdullah II succeeded his father, the late King Hussein, in 1999. AFP
Jordan's King Abdullah II succeeded his father, the late King Hussein, in 1999. AFP

Jordan's King Abdullah II forms committee to modernise political system


Khaled Yacoub Oweis
  • English
  • Arabic

Jordan's King Abdullah II on Thursday said he is seeking qualitative changes to the kingdom’s political system amid socio-economic turmoil.

The country has been ruled by the Hashemite monarchy for the past 100 years.

The king formed a mostly loyalist committee to come up with proposals for political reform centred on the 130-member parliament, which has little power in Jordan.

Last week, a tribal political figure called on his followers to challenge the monarch’s authority, prompting the largely pro-government parliament to remove him.

“We are intent on making a qualitative jump in the political and parliamentarian life,” the king said in a letter to the committee’s chairman, former prime minister Samir Al Rifai.

According to the royal court, the committee will be made up of 92 members, led by Mr Rifai.

Jordan is in a recession and unemployment is officially at a record 24 per cent. The government said last year it had increased the social assistance budget as more people sought support.

Several independent committees were formed to submit proposals for political reform since the king succeeded his father, the late King Hussein, in 1999. These were established mostly in times of political and economic uncertainty.

Power is concentrated with the king. Parliament, which is dominated by tribes, is a forum for government-sanctioned criticism. Jordan's tribes are also a main component of the security forces and largely employed by the state, as opposed to the private sector.

Jordan's King Abdullah II attends a military parade to mark the kingodm's centenary. Courtesy Royal Hashemite Court
Jordan's King Abdullah II attends a military parade to mark the kingodm's centenary. Courtesy Royal Hashemite Court

The king said the committee’s mission was to “modernise the political system” and come up with proposals for a new election law for the legislature.

Parliamentary seats are largely allocated to outlaying electoral districts that have relatively small populations.

The king instructed the committee to “give recommendations on modernising legislation that governs local government and enlarge the base of participation in decision-making”.

He did not give details but said he wanted to see a parliament based on blocs “with programmes” and progress “in the way the executive branch exercise its powers”.

On Monday, the monarch ordered an end to the current session of the sitting parliament.

The ruling came a day after parliament removed Osama Al Ajarmeh, a tribal deputy from the urban and agricultural region of Naour, south of Amman.

In a street address to his followers last week, Mr Al Ajarmeh made disparaging remarks about the king and called on his supporters to disobey the monarch.

At the end of April, the king released 16 tribe members from other regions who the authorities implied were involved in sedition.

The 16 were linked to Prince Hamzah bin Hussein, a half-brother of the king, who had sought to court the tribes.

__________

King Abdullah attends JAF ceremony

  • King Abdullah II, the Supreme Commander of the Jordan Armed Forces-Arab Army, accompanied by Crown Prince Hussein, attends a’ ceremony to mark the state’s centennial. All photos courtesy Royal Hashemite Court
    King Abdullah II, the Supreme Commander of the Jordan Armed Forces-Arab Army, accompanied by Crown Prince Hussein, attends a’ ceremony to mark the state’s centennial. All photos courtesy Royal Hashemite Court
  • King Abdullah was received at Al Rayah Parade Ground, located at the Royal Hashemite Court, by Crown Prince Hussein and chairman of the joint chiefs of staff, Maj Gen Yousef Hneiti.
    King Abdullah was received at Al Rayah Parade Ground, located at the Royal Hashemite Court, by Crown Prince Hussein and chairman of the joint chiefs of staff, Maj Gen Yousef Hneiti.
  • The ceremony coincides with Accession to the Throne Day, Army Day and the Great Arab Revolt anniversary.
    The ceremony coincides with Accession to the Throne Day, Army Day and the Great Arab Revolt anniversary.
  • Representatives from armies and security agencies of friendly countries with ties to Jordan through military co-operation and joint training, including Saudi Arabia, Egypt, Bahrain, Oman, the UAE, Qatar, Palestine, the UK, France, and Pakistan, participated.
    Representatives from armies and security agencies of friendly countries with ties to Jordan through military co-operation and joint training, including Saudi Arabia, Egypt, Bahrain, Oman, the UAE, Qatar, Palestine, the UK, France, and Pakistan, participated.
  • A drill squad performs at the JAF and security agencies’ ceremony marking Jordan's centennial.
    A drill squad performs at the JAF and security agencies’ ceremony marking Jordan's centennial.
  • A parachutist flies the Jordanian flag at the centennial ceremony.
    A parachutist flies the Jordanian flag at the centennial ceremony.
  • Put your best foot forward ... a military band on parade at the celebrations.
    Put your best foot forward ... a military band on parade at the celebrations.
  • A mounted unit at the ceremony at Jordan's Royal Hashemite Court.
    A mounted unit at the ceremony at Jordan's Royal Hashemite Court.
  • King Abdullah II at the JAF and security agencies’ ceremony.
    King Abdullah II at the JAF and security agencies’ ceremony.
  • King Abdullah II takes the salute at the celebratory march past.
    King Abdullah II takes the salute at the celebratory march past.
  • The 2nd Al Hussein Mechanised Battalion receives the Great Arab Revolt flag from the 9th Prince Mohammed Mechanised Battalion.
    The 2nd Al Hussein Mechanised Battalion receives the Great Arab Revolt flag from the 9th Prince Mohammed Mechanised Battalion.
  • Airborne Jordanian flags accompany King Abdullah as he crosses the parade ground.
    Airborne Jordanian flags accompany King Abdullah as he crosses the parade ground.
  • King Abdullah bestows the Order of the State Centennial on the Jordan Armed Forces, the Public Security Directorate, the General Intelligence Department, and several army and security personnel, in addition to Royal medals on JAF and security officers.
    King Abdullah bestows the Order of the State Centennial on the Jordan Armed Forces, the Public Security Directorate, the General Intelligence Department, and several army and security personnel, in addition to Royal medals on JAF and security officers.
  • Salute and march past at the parade to mark Jordan's centennial.
    Salute and march past at the parade to mark Jordan's centennial.

__________

A large proportion of Jordan’s tribes declared their allegiance to the Hashemites when King Abdullah I, the great grandfather of the current king, founded what would become the Hashemite Kingdom of Jordan with British support in the early 1920s.

The tribes are concentrated mainly in the centre and south of Jordan. But a large proportion of the country’s population of 10 million people is of Palestinian origin.

The kingdom's Palestinian populations are mostly concentrated in urban areas in northern and central Jordan. Most of their ancestors fled the conflict that erupted after the creation of Israel in 1948 and during the 1967 war.

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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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Tuesday results:

  • Singapore bt Malaysia by 29 runs
  • UAE bt Oman by 13 runs
  • Hong Kong bt Nepal by 3 wickets

Final:
Thursday, UAE v Hong Kong

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It is 200 times more resistant than steel and five times lighter than aluminum.

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Graphene can also detect cancer cells in the early stages of the disease.

The material was first discovered when Andre Geim and Konstantin Novoselov were 'playing' with graphite at the University of Manchester in 2004.