As rebels capture territory in northern and western Syria, including the cities of Aleppo and Hama, other conflicts are playing out in the east.
The region, stretching from the central desert to the far reaches of the border with Iraq, is home to Syrian government troops, Iran-backed militants and pockets of ISIS fighters and Kurdish militias backed by the US. The groups have fought against each other in recent days, as the lightning advance of rebels in the west of the country remains in the spotlight.
"ISIS disappeared in the past week, but today they started moving in the Syrian desert. In a limited way, they put up their checkpoints there and were moving around in the desert with greater ease," Mr Mohammed Hassan, a Syrian analyst from Deir Ezzor, told The National.
ISIS members were on the move in Al Kum area, south of the city of Raqqa, he added. Within a few hours, the Kurdish-led Syrian Democratic Forces said it had taken “comprehensive and controlled measures” to counter ISIS threats and “counter any attempt by ISIS to expand into our areas". The SDF controls territory to the north of where ISIS has operated.
Although the terrorist group was defeated in Syria in 2017, it has remained active in small pockets of central Syria. ISIS now appears to be taking advantage of the rebel advance across the country, which has forced the Syrian army and its Iran-backed allies to leave cities including Hama.
"What helped ISIS advance in this period is that the Syrian regime started to move its forces located in bases in the Syrian desert towards cities around Raqqa and Deir Ezzor, and from there it needs to move reinforcements to Homs and Damascus, in an attempt to prevent any attack from the Syrian opposition," Mr Hassan said.
The US-backed SDF has also seized the opportunity to expand its sphere of control. On Tuesday, the group’s Deir Ezzor Military Council said it had taken control of seven villages on the eastern bank of the Euphrates that had been under the control of government forces and allied Iran-backed militants since the collapse of ISIS.
“This has been a long-time objective of the SDF and, with the significant changes of control elsewhere in Syria and the general confusion among regime-aligned forces, they are seizing the opportunity,” Broderick McDonald, an associate fellow at the International Centre for the Study of Radicalisation at King's College London, told The National.
The SDF is under pressure, though. The force is led by the People's Protection Units (YPG), a Kurdish group linked to the Kurdistan Workers’ Party (PKK), which has fought a decades-long insurgency against the Turkish state. The YPG and PKK are considered terrorist organisations by Turkey.
In an operation called “Freedom Dawn", Turkish-backed fighters have advanced to areas west of Lake Assad on the Euphrates. Tens of thousands of people are reported to have fled the areas towards Kurdish-held territory farther east, while Turkish-backed groups have filmed people welcoming them.
The rebels may attempt to take control of areas on the other side of the river, said a senior Syrian opposition politician, adding that Kurdish forces needed to cut ties with the PKK.
“As for the other areas where there is SDF, like Manbij and the east of the Euphrates, we believe they will face great pressure there,” Ahmed Touma, head of the Syrian opposition delegation at peace talks held between Turkey, Russia and Iran, told The National.
“We said to them, time and time again, that our hand is extended for peace, but on the condition that you sever your association with Qandil,” he added, referring to the PKK base in the mountains of northern Iraq.
Farther east, the SDF’s ability to hold territory depends on policy changes that may occur when US president-elect Donald Trump takes office in January. If he decides to withdraw US troops from Syria, that would weaken the SDF, making it easier for Turkish-backed fighters to advance into SDF territory, or force it into a compromise.
“The SDF is seeking to cement its control over remaining pockets in Deir Ezzor before widely expected changes in policy from the incoming Trump administration that could see the withdrawal of all or most US forces in Syria,” Mr McDonald said. “More broadly, each actor in Syria is now actively seeking to consolidate territory that will put them in a stronger position before any future political negotiations.”
Iran-backed militants also have a significant presence in eastern Syria around Deir Ezzor, where they helped to secure control of the western bank of the Euphrates for President Bashar Al Assad's government, after the collapse of ISIS. About 900 US troops remain in Syria as part of anti-ISIS operations, but they also carry out what the US describes as self-defence strikes against Iran-backed militants.
On Tuesday, US Central Command forces said it destroyed rocket launchers, vehicles and mortars after militants fired towards American forces at a base in eastern Syria. Pentagon spokesman Maj Gen Pat Ryder said it was not clear who used the weapons, but Iran-backed groups and Syrian government forces are known to be in the area.
Iranian-backed forces, spread across other parts of government-held territory, as well as eastern Syria, have not yet moved en masse to prevent the government from losing territory to the rebels in the north and west. Iran-backed groups, including Hezbollah and parts of the Iraqi Popular Mobilisation Forces, are widely reported to use Syria as a conduit for weapons, supplies and fighters, especially in near the border with Iraq.
Israel has sought to combat that by carrying out dozens of strikes, although it rarely acknowledges them. The attacks, especially in the past year, have limited the Iran-backed groups’ ability to move around Syria, including to support government troops.
“There are significant Iranian-backed forces in eastern Syria, but so far the response from Iran has been slow,” said Mr McDonald. “This is likely to change as Mr Al Assad is now in a very dangerous situation, but it did not come fast enough for the regime and Iran to stop the rebels from capturing Aleppo and Hama.”
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
CHATGPT%20ENTERPRISE%20FEATURES
%3Cp%3E%E2%80%A2%20Enterprise-grade%20security%20and%20privacy%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Unlimited%20higher-speed%20GPT-4%20access%20with%20no%20caps%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Longer%20context%20windows%20for%20processing%20longer%20inputs%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Advanced%20data%20analysis%20capabilities%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Customisation%20options%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Shareable%20chat%20templates%20that%20companies%20can%20use%20to%20collaborate%20and%20build%20common%20workflows%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Analytics%20dashboard%20for%20usage%20insights%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Free%20credits%20to%20use%20OpenAI%20APIs%20to%20extend%20OpenAI%20into%20a%20fully-custom%20solution%20for%20enterprises%3C%2Fp%3E%0A
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
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.”
The Vile
Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah
Director: Majid Al Ansari
Rating: 4/5
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
The specs: 2018 Nissan Altima
Price, base / as tested: Dh78,000 / Dh97,650
Engine: 2.5-litre in-line four-cylinder
Power: 182hp @ 6,000rpm
Torque: 244Nm @ 4,000rpm
Transmission: Continuously variable tranmission
Fuel consumption, combined: 7.6L / 100km
Company profile
Date started: December 24, 2018
Founders: Omer Gurel, chief executive and co-founder and Edebali Sener, co-founder and chief technology officer
Based: Dubai Media City
Number of employees: 42 (34 in Dubai and a tech team of eight in Ankara, Turkey)
Sector: ConsumerTech and FinTech
Cashflow: Almost $1 million a year
Funding: Series A funding of $2.5m with Series B plans for May 2020
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
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Allardyce's management career
Clubs (10) - Limerick (1991-1992), Perston North End (1992), Blackpool (1994-1996), Notts County (1997-1999), Bolton Wanderers (1999-2007), Newcastle United (2007-2008), Blackburn Rovers (2008-2010), West Ham United (2011-2015), Sunderland (2016), Crystal Palace (2016-2017)
Countries (1) - England (2016)