Live updates: Follow the latest on Syria
Qatari diplomats have established a channel of communication with Hayat Tahrir Al Sham (HTS) to lead international discussions with the militant group that led factions in the offensive to topple Bashar Al Assad's regime in Syria.
“The Qataris have established the first channel of communication with HTS,” an official said on Tuesday. “Communications with HTS and Qatari diplomats are expected to continue in the next 24 hours with [transitional authority head Mohammed] Al Bashir, with the focus of the communication with HTS and others on the need for HTS and other groups to maintain calm and preserve Syria's public institutions during the transition period."
On Sunday, Damascus fell to the rebels, ending Syria's more than five-decade rule of Mr Al Assad and his late father Hafez Al Assad, both of whom were president. Rebel forces have kept the civil administration but to achieve stability they will need to fill the political vacuum and curb fragmentation along sectarian and ethnic lines. Mr Al Bashir was on Monday given the task of forming a new transitional government in Damascus.
HTS is made up mainly of groups from the extremist organisation Jabhat Al Nusra, which was linked to Al Qaeda. It broke those ties with Al Qaeda in 2016 and rebranded itself as Hayat Tahrir Al Sham, after a purge undertaken by the group's leader Ahmad Al Shara, formerly known by the nom de guerre Abu Mohammed Al Jawlani.
The UN and countries including the US and Russia have designated HTS a terrorist organisation. Mr Al Shara previously participated in an Iraqi insurgency against the US as a member of a group that eventually became ISIS. He then led the Syrian branch of Al Qaeda in 2011, in the early years of the civil war.
HTS played a significant role in the Syrian civil war and there are doubts over whether it has shed its Al Qaeda past and extreme ideologies.
During a meeting in Doha on Saturday, at which Qatari, Turkish, Iranian and Russian diplomats were representing the main countries backing different sides in Syria’s war, it was agreed that Qatar was best equipped to lead the contact with HTS, as it has not normalised relations with the Assad regime.
“Consensus was reached by all parties at Saturday’s meeting: the priority is to bring the situation in Syria under control and to ensure that extremist groups like Islamic State [ISIS] are not able to gain a foothold in Syria,” the official source said.
US President Joe Biden on Sunday said the collapse of the Assad regime was a “fundamental act of justice” and that the US would work with all in the country, including HTS, as Syria's next chapter is written. A senior US administration official confirmed that Washington is in contact with all Syrian groups, including HTS.
The US has about 900 troops in Syria, most of them in the north-east where they have been based for nearly a decade to help Kurdish forces fight ISIS. Mr Biden said he is “clear-eyed” that ISIS will try to take advantage of any vacuum to re-establish itself or create a safe haven.
The UN, Qatar, Turkey and other countries have urged HTS to establish an inclusive administration in Syria.
Qatari government adviser and Foreign Ministry spokesman, Majed Al Ansari, told reporters on the sidelines of the annual Doha Forum on Sunday that his country, which has mediated in several conflicts in the Middle East and beyond, would want to see a “viable state” in Syria.
“We would love to see a transition to a viable state that provides for the people, reflects the ambitions of the Syrian people and embodies the sacrifice by the Syrian people,” said Mr Al Ansari.
“But we know also that together, cynically, there are a lot of challenges coming ahead. There are a lot of militants on the ground. There is ... the possibility of Syria becoming a failed state."
He called on the international community to make sure that all support possible is provided to the Syrian people and that “no one party will be excluded, not racially and ethnically, not [in a] sectarian way, that everybody will be represented in the new Syria”.
Asked about HTS, he said Qatar, which has long supported the opposition to the Assad regime, was “quite hopeful that they would present a reasonable, rational player in the Syrian system now”.
“The international committee has no choice but to engage with the group right now and start talking with them.”
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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.”
Roll of honour
Who has won what so far in the West Asia Premiership season?
Western Clubs Champions League - Winners: Abu Dhabi Harlequins; Runners up: Bahrain
Dubai Rugby Sevens - Winners: Dubai Exiles; Runners up: Jebel Ali Dragons
West Asia Premiership - Winners: Jebel Ali Dragons; Runners up: Abu Dhabi Harlequins
UAE Premiership Cup - Winners: Abu Dhabi Harlequins; Runners up: Dubai Exiles
West Asia Cup - Winners: Bahrain; Runners up: Dubai Exiles
West Asia Trophy - Winners: Dubai Hurricanes; Runners up: DSC Eagles
Final West Asia Premiership standings - 1. Jebel Ali Dragons; 2. Abu Dhabi Harlequins; 3. Bahrain; 4. Dubai Exiles; 5. Dubai Hurricanes; 6. DSC Eagles; 7. Abu Dhabi Saracens
Fixture (UAE Premiership final) - Friday, April 13, Al Ain – Dubai Exiles v Abu Dhabi Harlequins
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
MATCH INFO
Day 2 at Mount Maunganui
England 353
Stokes 91, Denly 74, Southee 4-88
New Zealand 144-4
Williamson 51, S Curran 2-28
ICC Awards for 2021
MEN
Cricketer of the Year – Shaheen Afridi (Pakistan)
T20 Cricketer of the Year – Mohammad Rizwan (Pakistan)
ODI Cricketer of the Year – Babar Azam (Pakistan)
Test Cricketer of the Year – Joe Root (England)
WOMEN
Cricketer of the Year – Smriti Mandhana (India)
ODI Cricketer of the Year – Lizelle Lee (South Africa)
T20 Cricketer of the Year – Tammy Beaumont (England)
AUSTRALIA SQUAD
Tim Paine (captain), Sean Abbott, Pat Cummins, Cameron Green, Marcus Harris, Josh Hazlewood, Travis Head, Moises Henriques, Marnus Labuschagne, Nathan Lyon, Michael Neser, James Pattinson, Will Pucovski, Steve Smith, Mitchell Starc, Mitchell Swepson, Matthew Wade, David Warner
Full Party in the Park line-up
2pm – Andreah
3pm – Supernovas
4.30pm – The Boxtones
5.30pm – Lighthouse Family
7pm – Step On DJs
8pm – Richard Ashcroft
9.30pm – Chris Wright
10pm – Fatboy Slim
11pm – Hollaphonic
The specs: Macan Turbo
Engine: Dual synchronous electric motors
Power: 639hp
Torque: 1,130Nm
Transmission: Single-speed automatic
Touring range: 591km
Price: From Dh412,500
On sale: Deliveries start in October
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THE BIO
Favourite car: Koenigsegg Agera RS or Renault Trezor concept car.
Favourite book: I Am Pilgrim by Terry Hayes or Red Notice by Bill Browder.
Biggest inspiration: My husband Nik. He really got me through a lot with his positivity.
Favourite holiday destination: Being at home in Australia, as I travel all over the world for work. It’s great to just hang out with my husband and family.
Two-step truce
The UN-brokered ceasefire deal for Hodeidah will be implemented in two stages, with the first to be completed before the New Year begins, according to the Arab Coalition supporting the Yemeni government.
By midnight on December 31, the Houthi rebels will have to withdraw from the ports of Hodeidah, Ras Issa and Al Saqef, coalition officials told The National.
The second stage will be the complete withdrawal of all pro-government forces and rebels from Hodeidah city, to be completed by midnight on January 7.
The process is to be overseen by a Redeployment Co-ordination Committee (RCC) comprising UN monitors and representatives of the government and the rebels.
The agreement also calls the deployment of UN-supervised neutral forces in the city and the establishment of humanitarian corridors to ensure distribution of aid across the country.
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Citadel: Honey Bunny first episode
Directors: Raj & DK
Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon
Rating: 4/5
'The Sky is Everywhere'
Director:Josephine Decker
Stars:Grace Kaufman, Pico Alexander, Jacques Colimon
Rating:2/5
UAE squad
Men's draw: Victor Scvortov and Khalifa Al Hosani, (both 73 kilograms), Sergiu Toma and Mihail Marchitan (90kg), Ivan Remarenco (100kg), Ahmed Al Naqbi (60kg), Musabah Al Shamsi and Ahmed Al Hosani (66kg)
Women’s draw: Maitha Al Neyadi (57kg)