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Army uniforms abandoned in the streets, a president fleeing by plane, and a powerless government left behind to face the ensuing chaos: departing Syrian Prime Minister Mohammad Al Jalali has recounted the dramatic final hours before Damascus fell into the hands of rebels.
The president fled to Moscow, thrusting Syria into uncharted political territory following the collapse of his 24-year rule. The rebel advance was so swift that even his allies in Moscow and Tehran were unable to prevent it.
“Everyone is convinced that Assad has abandoned the government,” Mr Jalali, a technocrat, told The National on Monday. “Assad abandoned the government, and he acted selfishly and left the country to chaos, or at least he did not think about the next day.”
As the rebels entered the capital, hundreds of Syrians poured into the streets, waving opposition flags and honking car horns. Others, wary of the unfolding events, locked themselves indoors, awaiting clarity on what lay ahead. By nightfall on Sunday, the atmosphere was one of cautious quiet as a curfew imposed by the rebel forces took effect.
The lightning offensive by the rebels was surprising, but the collapse of the army was even more shocking. The National's correspondents in Damascus observed military uniforms abandoned in some streets, while checkpoints stood deserted. Along the road from Beirut to Damascus, remnants of a fleeing army told their own story. Empty tanks bore witness to a hasty retreat.
Mr Jalali explained that in the final hours before the rebels entered Damascus, there was a “major morale collapse” within the ranks of the army. “The Syrian forces did not want to fight against their brothers, especially since they no longer have conviction in the battle in light of their difficult living conditions,” he added.
“Most of the Syrian army soldiers gave up their weapons and left for their homes, and there was a state of mass desertion. The restructuring of the army is left to the next administration,” said the Prime Minister.
Mr Jalali, a technocrat, emerged as a pivotal figure as rebel forces took control of Damascus in the early hours of Sunday. In a video posted on his Facebook page, he said he remained in his home and was ready to support the continuity of governance and co-operate with any leadership chosen by the Syrian people.
Despite the chaotic situation, the departing Prime Minister said a decision was made for ministers to go to their offices and continue working, as the government received guarantees that official institutions would not be attacked. “The ministers are present at their work, running their ministries, and are ready to provide what the current situation requires,” he told The National.
“We are transferring government powers, and no conditions have been imposed on us. We are working to continue providing state services,” said the Prime Minister.
“Our powers are to handle business, and we are not a full government. The files of politics, defence, and others, even before [the fall of Damascus], were not in the hands of the government anyway.” He added that the government has food stocks sufficient for a few months.
On Monday, a former minister in the Hayat Tahrir Al-Sham-linked opposition forces was tasked with forming a transitional government in Damascus, two Syrian opposition officials confirmed to The National.
Mohammed Al-Bashir, formerly the development minister in the HTS-linked Salvation Government that opposed Mr Assad, has been entrusted with forming a transitional government to guide Syria towards new leadership and eventually elections – marking the country’s most significant political shake-up in decades. “We are ready for any scenario with the opposition,” said Mr. Jalali, promising a smooth transition of power.
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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.”
The bio
His favourite book - 1984 by George Orwell
His favourite quote - 'If you think education is expensive, try ignorance' by Derek Bok, Former President of Harvard
Favourite place to travel to - Peloponnese, Southern Greece
Favourite movie - The Last Emperor
Favourite personality from history - Alexander the Great
Role Model - My father, Yiannis Davos
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Dubai College A 50-12 Dubai College B
Name: Brendalle Belaza
From: Crossing Rubber, Philippines
Arrived in the UAE: 2007
Favourite place in Abu Dhabi: NYUAD campus
Favourite photography style: Street photography
Favourite book: Harry Potter
Dubai works towards better air quality by 2021
Dubai is on a mission to record good air quality for 90 per cent of the year – up from 86 per cent annually today – by 2021.
The municipality plans to have seven mobile air-monitoring stations by 2020 to capture more accurate data in hourly and daily trends of pollution.
These will be on the Palm Jumeirah, Al Qusais, Muhaisnah, Rashidiyah, Al Wasl, Al Quoz and Dubai Investment Park.
“It will allow real-time responding for emergency cases,” said Khaldoon Al Daraji, first environment safety officer at the municipality.
“We’re in a good position except for the cases that are out of our hands, such as sandstorms.
“Sandstorms are our main concern because the UAE is just a receiver.
“The hotspots are Iran, Saudi Arabia and southern Iraq, but we’re working hard with the region to reduce the cycle of sandstorm generation.”
Mr Al Daraji said monitoring as it stood covered 47 per cent of Dubai.
There are 12 fixed stations in the emirate, but Dubai also receives information from monitors belonging to other entities.
“There are 25 stations in total,” Mr Al Daraji said.
“We added new technology and equipment used for the first time for the detection of heavy metals.
“A hundred parameters can be detected but we want to expand it to make sure that the data captured can allow a baseline study in some areas to ensure they are well positioned.”
Poland Statement
All people fleeing from Ukraine before the armed conflict are allowed to enter Poland. Our country shelters every person whose life is in danger - regardless of their nationality.
The dominant group of refugees in Poland are citizens of Ukraine, but among the people checked by the Border Guard are also citizens of the USA, Nigeria, India, Georgia and other countries.
All persons admitted to Poland are verified by the Border Guard. In relation to those who are in doubt, e.g. do not have documents, Border Guard officers apply appropriate checking procedures.
No person who has received refuge in Poland will be sent back to a country torn by war.
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This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
The rules on fostering in the UAE
A foster couple or family must:
- be Muslim, Emirati and be residing in the UAE
- not be younger than 25 years old
- not have been convicted of offences or crimes involving moral turpitude
- be free of infectious diseases or psychological and mental disorders
- have the ability to support its members and the foster child financially
- undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
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UAE currency: the story behind the money in your pockets
