Syrian President Bashar Al Assad at a Baath party central committee meeting in Damascus this month. AFP
Syrian President Bashar Al Assad at a Baath party central committee meeting in Damascus this month. AFP
Syrian President Bashar Al Assad at a Baath party central committee meeting in Damascus this month. AFP
Syrian President Bashar Al Assad at a Baath party central committee meeting in Damascus this month. AFP

Syria to elect parliament in July after Assad makes changes in ruling Baath party


Khaled Yacoub Oweis
  • English
  • Arabic

Syria will hold its next parliamentary election in mid-July, state media reported, after President Bashar Al Assad made changes to the ruling Baath party command amid a deterioration in the economy and a civil war in its second decade.

The 250-member People's Assembly, which serves four-year terms, is a rubber-stamp legislature that has been controlled by the Baath party since it came to power in a 1963 coup.

Since the civil war began in 2011, the election has been seen as a barometer of influence among the ruling elite. These include new players in the war economy and militias that now underpin the system, together with the security apparatus that is dominated by members of the Alawite minority to which Mr Al Assad belongs.

The official news agency, Sana, on Saturday reported the President had signed a decree setting July 15 as the date for the election.

The authorities have kept in place decades-long regulations that de facto allocate two thirds of the seats to the Baath party and the National Progressive Front, a largely moribund constellation of loyalist political groups headed by the Baath.

Ayman Abdel Nour, a veteran Syrian political commentator, said that the election this year was set up to bring in a new "flavour" to revitalise the Baath party.

Mr Abdel Nour said Mr Al Assad had signalled to the security agencies not to interfere in the party's internal election that resulted in new faces in its leadership this month, although the President retained the post of secretary general.

"He wanted to find out the currents within his base and the best way to do that was to let them compete," said Mr Abdel Nour, who worked with Mr Al Assad when he succeeded his father in the 2000 and now lives in exile in the US.

The new party leadership, of whom only nine out of 120 count politically, are now mostly in their 50s, considerably younger than their predecessors, he said. Among them is Ziad Ghuson, a loyalist journalist with a record of criticising the government's economic policies.

Mr Abdel Nour said the Baathists are now also expecting more leeway in running for the parliamentary seats reserved for them and their allies, which could entice more people to stand.

There are about 1.5 million Baath party members in Syria, out of about 20 million people in the country. Two thirds live in areas held by the Damascus government while the rest live in eastern areas under the control of Kurdish militias supported by the US, in the north under Sunni Arab militias supported by Turkey, and in the north-west, under an offshoot of the Al Qaeda-linked Nusra Front, which has channels with Ankara.

But regime control has not mitigated adverse economic conditions. The Syrian pound is trading at 14,700 to the dollar, compared to 50 pounds to the dollar in February 2011, the month before pro-democracy protests escalated into a civil war.

The turnout in the previous parliamentary election in July 2020 was 37 per cent, down from 57 per cent in 2016, according to government figures.

In the 2020 election, the Baath party primaries "were marked by limited participation, accusations of corruption and widespread objections", according to a report by the European University Institute in Florence.

This was because more military and paramilitary figures entered the assembly, as well as more businessmen, it said.

It said that "power outside the traditional [Baath] party structure" included figures supported by the President's wife, Asma Al Assad.

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MATCH INFO

Uefa Champions League final:

Who: Real Madrid v Liverpool
Where: NSC Olimpiyskiy Stadium, Kiev, Ukraine
When: Saturday, May 26, 10.45pm (UAE)
TV: Match on BeIN Sports

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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

Fixtures

Opening day Premier League fixtures for August 9-11

August 9

Liverpool v Norwich 11pm

August 10

West Ham v Man City 3.30pm

Bournemouth v Sheffield Utd 6pm

Burnley v Southampton 6pm

C Palace v Everton 6pm

Leicester v Wolves 6pm

Watford v Brighton 6pm

Tottenham v Aston Villa 8.30pm

August 11

Newcastle v Arsenal 5pm

Man United v Chelsea 7.30pm

 

Western Clubs Champions League:

  • Friday, Sep 8 - Abu Dhabi Harlequins v Bahrain
  • Friday, Sep 15 – Kandy v Abu Dhabi Harlequins
  • Friday, Sep 22 – Kandy v Bahrain
How to get there

Emirates (www.emirates.com) flies directly to Hanoi, Vietnam, with fares starting from around Dh2,725 return, while Etihad (www.etihad.com) fares cost about Dh2,213 return with a stop. Chuong is 25 kilometres south of Hanoi.
 

Indoor cricket World Cup:
Insportz, Dubai, September 16-23

UAE fixtures:
Men

Saturday, September 16 – 1.45pm, v New Zealand
Sunday, September 17 – 10.30am, v Australia; 3.45pm, v South Africa
Monday, September 18 – 2pm, v England; 7.15pm, v India
Tuesday, September 19 – 12.15pm, v Singapore; 5.30pm, v Sri Lanka
Thursday, September 21 – 2pm v Malaysia
Friday, September 22 – 3.30pm, semi-final
Saturday, September 23 – 3pm, grand final

Women
Saturday, September 16 – 5.15pm, v Australia
Sunday, September 17 – 2pm, v South Africa; 7.15pm, v New Zealand
Monday, September 18 – 5.30pm, v England
Tuesday, September 19 – 10.30am, v New Zealand; 3.45pm, v South Africa
Thursday, September 21 – 12.15pm, v Australia
Friday, September 22 – 1.30pm, semi-final
Saturday, September 23 – 1pm, grand final

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FFP EXPLAINED

What is Financial Fair Play?
Introduced in 2011 by Uefa, European football’s governing body, it demands that clubs live within their means. Chiefly, spend within their income and not make substantial losses.

What the rules dictate? 
The second phase of its implementation limits losses to €30 million (Dh136m) over three seasons. Extra expenditure is permitted for investment in sustainable areas (youth academies, stadium development, etc). Money provided by owners is not viewed as income. Revenue from “related parties” to those owners is assessed by Uefa's “financial control body” to be sure it is a fair value, or in line with market prices.

What are the penalties? 
There are a number of punishments, including fines, a loss of prize money or having to reduce squad size for European competition – as happened to PSG in 2014. There is even the threat of a competition ban, which could in theory lead to PSG’s suspension from the Uefa Champions League.

SCORES IN BRIEF

New Zealand 153 and 56 for 1 in 22.4 overs at close
Pakistan 227
(Babar 62, Asad 43, Boult 4-54, De Grandhomme 2-30, Patel 2-64)

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.”

GIANT REVIEW

Starring: Amir El-Masry, Pierce Brosnan

Director: Athale

Rating: 4/5

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'Peninsula'

Stars: Gang Dong-won, Lee Jung-hyun, Lee Ra

Director: ​Yeon Sang-ho

Rating: 2/5

The specs

Engine: 2.0-litre 4cyl turbo

Power: 261hp at 5,500rpm

Torque: 405Nm at 1,750-3,500rpm

Transmission: 9-speed auto

Fuel consumption: 6.9L/100km

On sale: Now

Price: From Dh117,059

Updated: May 12, 2024, 2:54 PM