For at least 10 years, Abdul-Malik Al Houthi had an idol. In speeches, his attire and mannerisms, he mimicked Hezbollah leader Hassan Nasrallah.
The relationship between the two went beyond mutual respect and shared Iranian backing. The Houthi chief had been positioning himself to assume the mantle of leadership over allied militant groups, waiting for the right moment to step forward.
On September 27 last year, the Israeli army killed Nasrallah and other commanders in an air strike, exposing how vulnerable the once formidable movement had become.
One year on, fears are growing that the Houthis could move to fill the vacuum in Iran’s regional influence left by their weakened Lebanese allies, and that Mr Al Houthi may now emerge as the spearhead of Tehran’s militant axis, replacing the charismatic Nasrallah.
“Abdul-Malik Al Houthi looked at Hassan Nasrallah like a father figure,” Mahmoud Shehrah, an associate fellow at Chatham House, told The National. “It was fraternal, spiritual, even. There are talks that Abdul-Malik Al Houthi could be the one who carries the banner of revenge.”
Hezbollah's grip on Lebanon is weaker than at any point in the past two decades. The group suffered a crushing defeat in its war with Israel and was left badly exposed on an intelligence level, as underscored by the pager-bomb attack.
For decades, Hezbollah led Iran’s so-called Axis of Resistance, a role it has held since the movement was created by Tehran in the early 1980s following the Islamic Revolution. The investment poured into Hezbollah over the years has been immense, but its dominance is now visibly eroding.
With an intensified push to disarm it, the Houthis in Yemen might be looking at a chance to cement their position in the region.
“It's true that their paymasters, Iran, their trainers and their ideological brothers Hezbollah are all suffering, but there's an element of opportunity for the Houthis who will enjoy having more of a leadership position within the axis,” said Elisabeth Kendall, president of Girton College at Cambridge University, who focuses on militant groups in the region.
Opportunity to advance
While the Houthis have a kinship with their Lebanese comrades, fundamental differences between the two groups enable the Houthis to excel in areas where Hezbollah has been less successful.
The Houthis, who overthrew the Yemeni government in 2014 and took over the capital Sanaa, have fully fledged de facto state institutions and control over most of the north and west of Yemen, where the majority of the population resides. In contrast, Hezbollah has long been seen as a state within a state, with key figures in government.
Fundamentally, too, Hezbollah is a creation of Iran, while the Houthis are supported by it.
These key political differences between the two groups have allowed the Houthis not to be as reliant on Iran for their survival, said Jovan Ilijev of the Terrorism Research and Analysis Consortium.
“Iran has principally made Hezbollah part of their own strategy and security on a regional level. But the Houthis are a home-grown movement supported by Iran with an autonomous social base and have been able to take the mantle of the state and generally function quite independently.”
The political chokehold on Hezbollah, which had pledged to resist US pressure to disarm, presents a silver lining for the Houthis, Mr Ilijev believes.
“While disarmament is bad on a regional and strategic level, it has also opened a position for the Houthis to advance.”
The Houthis had their eyes on a bigger regional and global role since they took over Yemen's capital. Israel's war against Hamas in Gaza presented an opportunity. They began launching attacks in the Red Sea and against Israeli targets in October 2023, days after Israel launched a brutal campaign following Hamas's attacks.
Since then, Israel has been attacking critical Houthi-controlled infrastructure such as power plants and the Red Sea port of Hodeidah on which Yemen relies heavily for fuel and aid.
Lack of intelligence
However, on August 28, Israel decided to change tactics by killing 10 members of the Houthis' government, including the prime minister. The strike, while escalatory, has not caused tangible damage to the group's security apparatus, experts told The National.
The people killed ran the day-to-day affairs, holding no real power, and the main decision-makers in the Houthi shadow government remain elusive.
“Even within their ministries and government institutions, there's a Houthi operative who runs the show behind most ministers; a Houthi 'supervisor',” said Baraa Shiban, associate fellow with the Rusi defence think tank in London.
Israel said it was attacking an area in Houthi-controlled Sanaa where senior Houthi figures had gathered, adding that the attack was a “complex operation” based on intelligence-gathering.
This could signal the beginning of similar assassinations to those seen in the killings of commanders in Hezbollah, the Islamic Revolutionary Guard Corps and Hamas.
Israel knows well that with Hezbollah weakened, and after the massive destruction it inflicted in its war on Iran, where senior commanders were killed, it cannot allow another Hezbollah to emerge elsewhere, or another Nasrallah to rise.
The task, however, is far from simple: Yemen is thousands of kilometres away and, so far, has proved to be a black hole for intelligence.
“It's definitely a clear step in that direction – locating their leaders and then targeting them. However, [Israel's] strikes so far clearly show either a lack of understanding of the group, or a lack of intelligence,” explained Mr Shiban.
More from Rashmee Roshan Lall
The bio
Favourite book: Peter Rabbit. I used to read it to my three children and still read it myself. If I am feeling down it brings back good memories.
Best thing about your job: Getting to help people. My mum always told me never to pass up an opportunity to do a good deed.
Best part of life in the UAE: The weather. The constant sunshine is amazing and there is always something to do, you have so many options when it comes to how to spend your day.
Favourite holiday destination: Malaysia. I went there for my honeymoon and ended up volunteering to teach local children for a few hours each day. It is such a special place and I plan to retire there one day.
MATCH INFO
Who: UAE v USA
What: first T20 international
When: Friday, 2pm
Where: ICC Academy in Dubai
UAE currency: the story behind the money in your pockets
UAE%20v%20West%20Indies
%3Cp%3EFirst%20ODI%20-%20Sunday%2C%20June%204%20%0D%3Cbr%3ESecond%20ODI%20-%20Tuesday%2C%20June%206%20%0D%3Cbr%3EThird%20ODI%20-%20Friday%2C%20June%209%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3EMatches%20at%20Sharjah%20Cricket%20Stadium.%20All%20games%20start%20at%204.30pm%0D%3Cbr%3E%0D%3Cbr%3E%3Cstrong%3EUAE%20squad%3C%2Fstrong%3E%0D%3Cbr%3EMuhammad%20Waseem%20(captain)%2C%20Aayan%20Khan%2C%20Adithya%20Shetty%2C%20Ali%20Naseer%2C%20Ansh%20Tandon%2C%20Aryansh%20Sharma%2C%20Asif%20Khan%2C%20Basil%20Hameed%2C%20Ethan%20D%E2%80%99Souza%2C%20Fahad%20Nawaz%2C%20Jonathan%20Figy%2C%20Junaid%20Siddique%2C%20Karthik%20Meiyappan%2C%20Lovepreet%20Singh%2C%20Matiullah%2C%20Mohammed%20Faraazuddin%2C%20Muhammad%20Jawadullah%2C%20Rameez%20Shahzad%2C%20Rohan%20Mustafa%2C%20Sanchit%20Sharma%2C%20Vriitya%20Aravind%2C%20Zahoor%20Khan%0D%3C%2Fp%3E%0A
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.”
UAE currency: the story behind the money in your pockets
THE%20SPECS
%3Cp%3EEngine%3A%203-litre%20V6%20turbo%20(standard%20model%2C%20E-hybrid)%3B%204-litre%20V8%20biturbo%20(S)%0D%3Cbr%3EPower%3A%20350hp%20(standard)%3B%20463hp%20(E-hybrid)%3B%20467hp%20(S)%0D%3Cbr%3ETorque%3A%20500Nm%20(standard)%3B%20650Nm%20(E-hybrid)%3B%20600Nm%20(S)%0D%0D%3Cbr%3EPrice%3A%20From%20Dh368%2C500%0D%3Cbr%3EOn%20sale%3A%20Now%3C%2Fp%3E%0A
Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
Simran
Director Hansal Mehta
Stars: Kangana Ranaut, Soham Shah, Esha Tiwari Pandey
Three stars
ULTRA PROCESSED FOODS
- Carbonated drinks, sweet or savoury packaged snacks, confectionery, mass-produced packaged breads and buns
- Margarines and spreads; cookies, biscuits, pastries, cakes, and cake mixes, breakfast cereals, cereal and energy bars
- Energy drinks, milk drinks, fruit yoghurts and fruit drinks, cocoa drinks, meat and chicken extracts and instant sauces
- Infant formulas and follow-on milks, health and slimming products such as powdered or fortified meal and dish substitutes
- Many ready-to-heat products including pre-prepared pies and pasta and pizza dishes, poultry and fish nuggets and sticks, sausages, burgers, hot dogs, and other reconstituted meat products, powdered and packaged instant soups, noodles and desserts
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
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