Egypt and Eritrea are exploring a possible military co-operation deal and intelligence sharing as they seek to cement already close ties, according to sources.
The sources told The National that such an accord would also include outlining bilateral steps to protect Red Sea shipping, which has been severely disrupted by attacks from Iran-backed rebels in Yemen carried out in solidarity with the Palestinians during Israel's 11-month war in Gaza.
Egypt is also discussing with Eritrea possible mediation by Cairo to end decades-old animosity between Asmara and the ethnic rebels of Tigray in neighbouring Ethiopia, where the Tigray People's Liberation Front poses the most potent threat to the rule of Prime Minister Abiy Ahmed.
Mr Abiy has been an anathema in Egypt because of what Cairo views as his intransigence in more than a decade of fruitless negotiations to resolve the two nations' dispute over a giant Nile dam that Ethiopia is building, which is seen by Cairo as an existential threat to its life-and-death share of the river's water. Addis Ababa has in turn accused Egypt of supporting anti-government groups to destabilise Ethiopia.
The discussions between Egypt and Eritrea come amid a surprise visit to Asmara last weekend by Egyptian intelligence chief Gen Kamal Abbas, a confidant of President Abdel Fattah El Sisi, and Foreign Minister Badr Abdelatty. The pair met Eritrea's longtime leader Isaias Afwerki.
The Foreign Ministry on Saturday said the pair handed the Eritrean leader a message from Mr El Sisi on “bolstering and developing bilateral relations in all fields”.
“They also listened to President Afwerki's views on developments in the Red Sea regarding the importance of finding the right circumstances to restore normal maritime shipping and international trade through the Bab Al Mandeb,” it said, referring to the narrow strait that links the Red and Arabian seas.
The Egyptians also heard the Eritrean leader's views on developments in the Horn of Africa, the challenges faced in that region and methods for reinforcing security and stability there, it said.
Egypt and Eritrea together account for thousands of kilometres of Red Sea coastline, including the Egyptian shores of the gulfs of Suez and Aqaba, as well as 355 islands under Eritrean sovereignty. While Egypt controls the northern reaches of the Red Sea, including the Suez Canal that links to the Mediterranean, Eritrea is located close to the strategic Bab Al Mandeb strait.
The two have forged close ties in the 10 years since Mr El Sisi rose to power in the most populous Arab nation, with Mr Afwerki meeting the Egyptian President several times in recent years. They last met in Cairo in February, only three months after their previous meeting in Riyadh, Saudi Arabia.
“The primary aim of Egypt in the region is to curb Ethiopian influence in the Horn of Africa and put pressure on Abiy Ahmed’s government,” said one of the sources. “To boost co-operation with Eritrea is a huge step in that direction.”
A military co-operation agreement with Eritrea would be the latest deal of its kind to be struck between Cairo and countries in the Horn of Africa, East Africa or the Nile basin. These include Djibouti, Kenya, Uganda, Sudan and Somalia.
Analysts have long suspected those deals are primarily designed to put pressure on Addis Ababa to show flexibility in its dispute with Egypt over the Grand Ethiopian Renaissance Dam.
The latest military co-operation agreement between Egypt and its southern neighbours was signed last month with Somalia, which has traditionally been at odds with Ethiopia. Under the provisions of that deal, Egypt late last month airlifted arms, military hardware and troops to Somalia, deeply angering Ethiopia, which has warned that the move would undermine stability in the Horn of Africa and vowed not to stand idly by.
Eritrea, on the other hand, gained its independence from Ethiopia in 1993 after a decades-long civil war. The pair fought a ruinous war over a border dispute between 1998 and 2000; and although they have since made peace and fought together against Ethiopia's Tigrayan rebels in 2020-2022, they remain rivals.
Somalia's quarrel with Addis Ababa now is over a preliminary deal its landlocked neighbour signed this year with the breakaway territory of Somaliland to lease coastal land in exchange for possible recognition of its independence from Somalia.
Somalia called the deal an assault on its sovereignty and said it would block it by all means necessary.
“Somalia and Ethiopia share a long-enduring animosity,” Somalia's Minister of State for Foreign Affairs Ali Mohammed Omar told Qatar's Al Jazeera TV network in an interview aired last week.
Asked how Somalia would respond if Ethiopia and Somaliland went ahead and implemented their agreement, he said: “That will be a declaration of war.”
Somalia has already threatened to send home an estimated 10,000 Ethiopian troops in Somalia as part of an African Union-mandated peacekeeping force if the deal is not cancelled.
For its part, Egypt said it planned to apply to the AU to be part of a new peacekeeping force in Somalia which, as the host nation, Somalia must approve.
If this comes to fruition, it could increase tensions. Already, the 17-month-old war in Sudan has driven more than two million people over the borders of that vast Afro-Arab nation. And in Ethiopia, ethnic divides appear to be ominously worsening and Somalia is faced with a constant threat from militant group Al Shabab.
Ways to control drones
Countries have been coming up with ways to restrict and monitor the use of non-commercial drones to keep them from trespassing on controlled areas such as airports.
"Drones vary in size and some can be as big as a small city car - so imagine the impact of one hitting an airplane. It's a huge risk, especially when commercial airliners are not designed to make or take sudden evasive manoeuvres like drones can" says Saj Ahmed, chief analyst at London-based StrategicAero Research.
New measures have now been taken to monitor drone activity, Geo-fencing technology is one.
It's a method designed to prevent drones from drifting into banned areas. The technology uses GPS location signals to stop its machines flying close to airports and other restricted zones.
The European commission has recently announced a blueprint to make drone use in low-level airspace safe, secure and environmentally friendly. This process is called “U-Space” – it covers altitudes of up to 150 metres. It is also noteworthy that that UK Civil Aviation Authority recommends drones to be flown at no higher than 400ft. “U-Space” technology will be governed by a system similar to air traffic control management, which will be automated using tools like geo-fencing.
The UAE has drawn serious measures to ensure users register their devices under strict new laws. Authorities have urged that users must obtain approval in advance before flying the drones, non registered drone use in Dubai will result in a fine of up to twenty thousand dirhams under a new resolution approved by Sheikh Hamdan bin Mohammed, Crown Prince of Dubai.
Mr Ahmad suggest that "Hefty fines running into hundreds of thousands of dollars need to compensate for the cost of airport disruption and flight diversions to lengthy jail spells, confiscation of travel rights and use of drones for a lengthy period" must be enforced in order to reduce airport intrusion.
Avatar: Fire and Ash
Director: James Cameron
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Nissan 370z Nismo
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Cherry
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'Peninsula'
Stars: Gang Dong-won, Lee Jung-hyun, Lee Ra
Director: Yeon Sang-ho
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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.”
Company%20Profile
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THE BIO
Age: 33
Favourite quote: “If you’re going through hell, keep going” Winston Churchill
Favourite breed of dog: All of them. I can’t possibly pick a favourite.
Favourite place in the UAE: The Stray Dogs Centre in Umm Al Quwain. It sounds predictable, but it honestly is my favourite place to spend time. Surrounded by hundreds of dogs that love you - what could possibly be better than that?
Favourite colour: All the colours that dogs come in
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VEZEETA PROFILE
Date started: 2012
Founder: Amir Barsoum
Based: Dubai, UAE
Sector: HealthTech / MedTech
Size: 300 employees
Funding: $22.6 million (as of September 2018)
Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC
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Series info
Test series schedule 1st Test, Abu Dhabi: Sri Lanka won by 21 runs; 2nd Test, Dubai: Play starts at 2pm, Friday-Tuesday
ODI series schedule 1st ODI, Dubai: October 13; 2nd ODI, Abu Dhabi: October 16; 3rd ODI, Abu Dhabi: October 18; 4th ODI, Sharjah: October 20; 5th ODI, Sharjah: October 23
T20 series schedule 1st T20, Abu Dhabi: October 26; 2nd T20, Abu Dhabi: October 27; 3rd T20, Lahore: October 29
Tickets Available at www.q-tickets.com
Stat Fourteen Fourteen of the past 15 Test matches in the UAE have been decided on the final day. Both of the previous two Tests at Dubai International Stadium have been settled in the last session. Pakistan won with less than an hour to go against West Indies last year. Against England in 2015, there were just three balls left.
Key battle - Azhar Ali v Rangana Herath Herath may not quite be as flash as Muttiah Muralitharan, his former spin-twin who ended his career by taking his 800th wicket with his final delivery in Tests. He still has a decent sense of an ending, though. He won the Abu Dhabi match for his side with 11 wickets, the last of which was his 400th in Tests. It was not the first time he has owned Pakistan, either. A quarter of all his Test victims have been Pakistani. If Pakistan are going to avoid a first ever series defeat in the UAE, Azhar, their senior batsman, needs to stand up and show the way to blunt Herath.
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MATCH INFO
Manchester City 1 Chelsea 0
De Bruyne (70')
Man of the Match: Kevin de Bruyne (Manchester City)