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Iranian Foreign Minister Abbas Araghchi on Monday said indirect talks with the US through its intermediary Oman have stopped as Tehran "does not see a basis" for them amid wars and heightened tension in the region.
Oman is a frequent interlocutor between Iran and western nations, particularly the US, and has played a key role in indirect nuclear talks as well as prisoner swaps.
"We do not see a basis for these talks until we can overcome the current crisis and then we will decide whether to start working again or not," Mr Araghchi said in Muscat, Iran's Irna agency reported.
Mr Araghchi met Houthi spokesman Mohammed Abdul Salam in Muscat as part of a visit to Oman, the latest in a series of diplomatic trips in the region following Israel's vow to retaliate against an Iranian missile attack two weeks ago. The Houthis have also launched attacks on Tel Aviv to which Israel responded by hitting Yemen's Hodeidah port, a lifeline for millions of Yemenis who require food and aid assistance.
Mr Araghchi also met Oman's Foreign Minister Badr Al Busaidi.
Last week, Oman and Iran held joint naval and land forces drills, aiming to enhance combat preparedness of the neighbours who share a maritime border along the Gulf of Oman.
“For the time being, the Muscat process is stopped because of special situation in the region," Mr Araghchi said, as fighting rages on in Gaza and Lebanon. Iran is also bracing for Israeli retaliation after the barrage of ballistic missiles Iran fired at the country in retaliation to a series of Israeli strikes on Lebanon that killed a large part of Hezbollah's leadership, as well as Iranian military commander Abbas Nilforoushan.
The US is Israel's close ally and major provider of military assistance while Iran backs Hamas, Hezbollah and the Houthis, all of which are fighting Israel.
Iran has repeatedly accused the US of assisting Israel in committing genocide and war crimes in Gaza since the conflict began, and has described the October 7 attacks on Israel carried out by militant group Hamas as “a turning point in the history of the legitimate struggle of the Palestinian people”.
Mr Araghchi said no message was sent to the US during his regional trip but that Iran's position has been relayed to the West.
"Our position is quite clear and we have repeated many times that we do not want war and conflict although we are fully prepared for it," Mr Araghchi said, in a message to the US and European countries. He stressed that diplomacy should be enough to prevent a war with Israel from taking place.
"The region is experiencing a state of alert and may be on the verge of large-scale conflicts, and diplomacy is the only way to prevent and avoid major crises," he said. He praised Oman's important role in resolving numerous issues through its mediation.
Under new President Masoud Pezeshkian, Iran has been indicating a will to return to negotiations with the US to revive a nuclear deal, leading to the lifting of sanctions. Tehran has been accused of enriching uranium to nearly weapons-grade levels since former US president Donald Trump pulled the US out of the deal in 2018.
Mr Araghchi said future decisions on whether to resume indirect talks with the US would be made "after further assessment", as a possible warming of ties between Iran and the West seem more distant than ever given the tension in the region. The EU on Monday imposed new sanctions on Iranian officials and groups accused of being involved in the transfer of missiles and drones for Russia to use in Ukraine.
The minister's regional trip began with a visit to Saudi Arabia last week where he met Saudi Crown Prince Mohammed bin Salman. He also travelled to Qatar and Iraq where discussions were also centred on the need to end the wars in Gaza and Lebanon.
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The biog
Age: 19
Profession: medical student at UAE university
Favourite book: The Ocean at The End of The Lane by Neil Gaiman
Role model: Parents, followed by Fazza (Shiekh Hamdan bin Mohammed)
Favourite poet: Edger Allen Poe
ETFs explained
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RESULTS
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Juliot Vinolia’s checklist for adopting alternate-day fasting
- Don’t do it more than once in three days
- Don’t go under 700 calories on fasting days
- Ensure there is sufficient water intake, as the body can go in dehydration mode
- Ensure there is enough roughage (fibre) in the food on fasting days as well
- Do not binge on processed or fatty foods on non-fasting days
- Complement fasting with plant-based foods, fruits, vegetables, seafood. Cut out processed meats and processed carbohydrates
- Manage your sleep
- People with existing gastric or mental health issues should avoid fasting
- Do not fast for prolonged periods without supervision by a qualified expert
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Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
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What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
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Common OCD symptoms and how they manifest
Checking: the obsession or thoughts focus on some harm coming from things not being as they should, which usually centre around the theme of safety. For example, the obsession is “the building will burn down”, therefore the compulsion is checking that the oven is switched off.
Contamination: the obsession is focused on the presence of germs, dirt or harmful bacteria and how this will impact the person and/or their loved ones. For example, the obsession is “the floor is dirty; me and my family will get sick and die”, the compulsion is repetitive cleaning.
Orderliness: the obsession is a fear of sitting with uncomfortable feelings, or to prevent harm coming to oneself or others. Objectively there appears to be no logical link between the obsession and compulsion. For example,” I won’t feel right if the jars aren’t lined up” or “harm will come to my family if I don’t line up all the jars”, so the compulsion is therefore lining up the jars.
Intrusive thoughts: the intrusive thought is usually highly distressing and repetitive. Common examples may include thoughts of perpetrating violence towards others, harming others, or questions over one’s character or deeds, usually in conflict with the person’s true values. An example would be: “I think I might hurt my family”, which in turn leads to the compulsion of avoiding social gatherings.
Hoarding: the intrusive thought is the overvaluing of objects or possessions, while the compulsion is stashing or hoarding these items and refusing to let them go. For example, “this newspaper may come in useful one day”, therefore, the compulsion is hoarding newspapers instead of discarding them the next day.
Source: Dr Robert Chandler, clinical psychologist at Lighthouse Arabia
First Person
Richard Flanagan
Chatto & Windus
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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The specs: 2018 Mercedes-Benz E 300 Cabriolet
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Engine: 2.0-litre four-cylinder
Power: 245hp @ 5,500rpm
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Fuel consumption, combined: 7.0L / 100km
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MATCH INFO
CAF Champions League semi-finals first-leg fixtures
Tuesday:
Primeiro Agosto (ANG) v Esperance (TUN) (8pm UAE)
Al Ahly (EGY) v Entente Setif (ALG) (11PM)
Second legs:
October 23
GIANT REVIEW
Starring: Amir El-Masry, Pierce Brosnan
Director: Athale
Rating: 4/5
'Gold'
Director:Anthony Hayes
Stars:Zaf Efron, Anthony Hayes
Rating:3/5
