A new peace proposal has emerged in Sudan's civil war, calling for an initial three-month truce followed by a return to civilian rule in which the Muslim Brotherhood is kept out of power.
The UAE, Saudi Arabia, Egypt and the US announced on Friday they had agreed a "shared set of principles" on ending the conflict. Sudan's army and a rival paramilitary, the Rapid Support Forces (RSF), have been at war since April 2023.
The war has left Sudan divided between two governments. The fighting has brought famine to Sudan and forced millions to leave their homes amid sieges, fierce battles and allegations of war crimes against both sides.
In their five-point peace plan, the UAE and partners said Sudan's unity is essential, that a military solution not "viable" and that both sides are obliged to let aid reach the Sudanese people "through all necessary routes".
The fourth point addresses steps towards a new government for Sudan. The four countries "called for a humanitarian truce, for an initial three months, to enable the swift entry of humanitarian aid to all parts of Sudan", they said.
They said this should "lead immediately to a permanent ceasefire, then an inclusive and transparent transition process should be launched and concluded within nine months to meet the aspirations of the Sudanese people".
"Sudan’s future cannot be dictated by violent extremist groups part of or evidently linked to the Muslim Brotherhood, whose destabilising influence has fuelled violence and instability across the region," they said. Analysts have warned of Islamist groups regaining influence in Sudan in an alliance with the army.
The fifth element is that "an end to external military support is essential to ending the conflict", the countries said. Their foreign ministers say they will "exert all efforts" to get the army and RSF to negotiate a settlement.
The ministers will also "press all parties to the conflict" to protect civilians and ensure aid reaches those in need, they said. The UAE and partners have previously acted as go-betweens in peace talks in Switzerland.
Sudan's army-backed government under Gen Abdel Fattah Al Burhan, which operates from Port Sudan, controls northern, central and eastern regions. The RSF, led by Gen Mohamed Dagalo, has set up its own administration in western Darfur.
Once allies, the two generals led a coup in 2021 that overthrew a civilian government under prime minister Abdalla Hamdok. Mr Hamdok told The National this week that the US was showing "rather more structured and more serious engagement" in the peace process.
On Friday, the US Treasury Department announced sanctions on Sudanese Finance Minister Gebreil Ibrahim Mohamed Fediel and militia group Al Baraa bin Malik Brigade for their involvement in the civil war and connections to Iran.
The sanctions are aimed at limiting extremist influence within Sudan and curtailing Tehran's regional activities, "which have contributed to regional destabilisation, conflict and civilian suffering", Treasury said.
The army recaptured Khartoum in March but the city came under attack from RSF drones this week. The strikes were expected to curtail the return of residents who had fled the fighting.
Terror attacks in Paris, November 13, 2015
- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany
- At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people
- Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed
- Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest
- He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France
The specs
Engine: 2.0-litre 4-cylturbo
Transmission: seven-speed DSG automatic
Power: 242bhp
Torque: 370Nm
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The biog
Title: General Practitioner with a speciality in cardiology
Previous jobs: Worked in well-known hospitals Jaslok and Breach Candy in Mumbai, India
Education: Medical degree from the Government Medical College in Nagpur
How it all began: opened his first clinic in Ajman in 1993
Family: a 90-year-old mother, wife and two daughters
Remembers a time when medicines from India were purchased per kilo
UAE currency: the story behind the money in your pockets
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.”
UAE currency: the story behind the money in your pockets
Name: Peter Dicce
Title: Assistant dean of students and director of athletics
Favourite sport: soccer
Favourite team: Bayern Munich
Favourite player: Franz Beckenbauer
Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates
