Britain's National Security Adviser Jonathan Powell, left, with Syria's President Ahmad Al Shara in Damascus on August 5, 2025. AFP
Britain's National Security Adviser Jonathan Powell, left, with Syria's President Ahmad Al Shara in Damascus on August 5, 2025. AFP
Britain's National Security Adviser Jonathan Powell, left, with Syria's President Ahmad Al Shara in Damascus on August 5, 2025. AFP
Britain's National Security Adviser Jonathan Powell, left, with Syria's President Ahmad Al Shara in Damascus on August 5, 2025. AFP

Syrian president holds talks with UK security adviser on regional stability and bilateral ties


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Syrian President Ahmad Al Shara held talks with the UK's National Security Adviser Jonathan Powell on ways to enhance relations, the country's news agency Sana and state media said on Tuesday.

Mr Powell reportedly met Mr Al Shara in 2021 when he was leading a charity that played a key mediation role between the Syrian government and the rebel-held opposition rule in Idlib. Mr Al Shara was the leader of Hayat Tahrir Al Sham which ruled in the rebel bastion.

They discussed ways to support regional and international developments during the meeting in Damascus that was attended by Syria's Foreign Minister, Assad Al Shibani and the director of general intelligence Hussein Al Salama.

Mr Al Shara said the country was open to “any sincere initiatives that support regional security and stability, provided that it respects Syria’s sovereignty and its independent national decisions”, according to Sana.

Mr Powell, who served as chief of staff during Tony Blair’s tenure as prime minister, was appointed to the role of UK National Security Adviser by the Labour government in November last year, only weeks before the toppling of Bashar Al Assad.

Last month, UK Foreign Secretary David Lammy became the first British minister to visit Syria since the protests that led to the country's civil war in 2011. Mr Lammy met Mr Al Shara eight months after the Assad regime was toppled and as the new interim government continues to establish control in the country.

“There is renewed hope for the Syrian people,” said Mr Lammy. “It is in our interests to support the new government to deliver their commitment to build a stable, more secure and prosperous future for all Syrians.”

The National has previously reported that the UK is wielding considerable influence in post-Assad Syria, through a combination of political connections, charity operations and a well-networked returning diaspora.

It has also been reported that a new generation of British Syrians are advising the new administration, although this is not connected to any UK government initiative. Syrians from civil society, political and legal support groups established by diaspora communities in the past 14 years are helping to shape the course of policy.

Their expertise covers law, governance and preservation of civil freedom.

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Name: Qyubic
Started: October 2023
Founder: Namrata Raina
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Sector: E-commerce
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Initial investment: Undisclosed 

Milestones on the road to union

1970

October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar. 

December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.

1971

March 1:  Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.

July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.

July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.

August 6:  The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.

August 15: Bahrain becomes independent.

September 3: Qatar becomes independent.

November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.

November 29:  At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.

November 30: Despite  a power sharing agreement, Tehran takes full control of Abu Musa. 

November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties

December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.

December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.

December 9: UAE joins the United Nations.

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.”

Updated: August 06, 2025, 7:59 AM