A top US diplomat on Wednesday denied a claim by Yemen's Houthis that the Biden administration had offered to recognise the Iran-backed rebels in Sanaa if they stopped attacks in the Red Sea and beyond.
Special envoy to Yemen Tim Lenderking also said he had seen “very worrying” evidence that Russia is seeking to arm the Houthis.
A senior Houthi official this week said the US had offered to recognise the Houthis and other unspecified “temptations” for the group to stop attacking shipping in the Red Sea and launching strikes against Israel.
“There is no truth to the story,” Mr Lenderking told The National at an event hosted by the Arab Gulf States Institute in Washington on Wednesday. “It is not the case that the US is offering any inducements to recognise the Houthis is a legitimate government.”
Speaking alongside Yemen's ambassador to Washington, Mohammed Al Hadhrami, he said the US is “working very closely with the legitimate government in Yemen”, which has moved to Aden since the Houthis seized control of the capital Sanaa in a 2014 coup that led to the current civil war.
Mr Al Hadhrami said the Houthis want to turn Yemen into a theocratic state and warned that diplomacy “will not work” with the rebels. He listed a moves short of a full-scale military intervention to increase pressure on the group, including redesignating them as a foreign terrorist organisation, securing Yemen's borders and cutting supply lines for weapons.
Outside Yemen's decade-long civil war, the Houthis have unleashed a campaign against Red Sea shipping, saying say they are attacking ships linked to Israel in solidarity with the Palestinians in Gaza. The group has also fired at least one ballistic missile into Israel and steered at least one attack drone into the country.
The US delisted the Houthis as a foreign terrorist organisation and as specially designated global terrorists in February 2021, as President Joe Biden's administration sought to make it easier to get aid into Yemen, where a humanitarian crisis has pushed millions to the brink of starvation.
But the administration partially backtracked this year, redesignating the Houthis as a specially designated global terrorist group, but not calling them a foreign terrorist organisation, which carries more serious implications. Mr Lenderking said that designation was under consideration.
“We're in very active conversation with the Yemen government, within our own leadership here about the prospect of doing that, whether that's helpful, whether that achieves objectives that we want to see,” he said.
Mr Lenderking said the Houthis' relationship with Russia is growing stronger and has become “extremely troubling”.
“The Russians are very irritated with our strong policy on Ukraine. They're finding other outlets to take it out on us. Yemen is another venue where they have been seeking to arm the Houthis, which would be a game changer.”
Mr Al Hadhrami said, however, that Russia had assured Yemen's Foreign Minister on a recent Moscow visit they were not supplying weapons to the Houthis.
“If we see evidence that this is not the case, I think our position will change,” the ambassador said.
The Houthis on Sunday claimed responsibility for a “hypersonic” ballistic missile attack on central Israel, praising it for causing “fear and panic” throughout the country. They called the missile Palestine 2, which the Pentagon on Tuesday denied had hypersonic capabilities.
Mr Al Hadhrami and Mr Lenderking both said they want to see a ceasefire in Gaza and regard it as key to ending attacks in the Red Sea.
Mr Lenderking said countries and groups with inside knowledge of the issue assure him the Houthis would stop their attacks in the event of a ceasefire.
“Even if they do that, though, they've still demonstrated the capability to menace shipping, and they have the willingness to do it. So the United States is not going to say, OK, game over,” he said.
The Houthis last month struck the MV Sounion oil tanker, threatening the worst oil spill in history. The vessel is now under tow for salvage but Mr Lenderking said it is still on fire.
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)
Studying addiction
This month, Dubai Medical College launched the Middle East’s first master's programme in addiction science.
Together with the Erada Centre for Treatment and Rehabilitation, the college offers a two-year master’s course as well as a one-year diploma in the same subject.
The move was announced earlier this year and is part of a new drive to combat drug abuse and increase the region’s capacity for treating drug addiction.
The%20specs
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The biog
Occupation: Key marker and auto electrician
Hometown: Ghazala, Syria
Date of arrival in Abu Dhabi: May 15, 1978
Family: 11 siblings, a wife, three sons and one daughter
Favourite place in UAE: Abu Dhabi
Favourite hobby: I like to do a mix of things, like listening to poetry for example.
Favourite Syrian artist: Sabah Fakhri, a tenor from Aleppo
Favourite food: fresh fish
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Clinicy%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202017%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Prince%20Mohammed%20Bin%20Abdulrahman%2C%20Abdullah%20bin%20Sulaiman%20Alobaid%20and%20Saud%20bin%20Sulaiman%20Alobaid%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Riyadh%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%3C%2Fstrong%3E%2025%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20HealthTech%3Cbr%3E%3Cstrong%3ETotal%20funding%20raised%3A%3C%2Fstrong%3E%20More%20than%20%2410%20million%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Middle%20East%20Venture%20Partners%2C%20Gate%20Capital%2C%20Kafou%20Group%20and%20Fadeed%20Investment%3C%2Fp%3E%0A
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.”
Family reunited
Nazanin Zaghari-Ratcliffe was born and raised in Tehran and studied English literature before working as a translator in the relief effort for the Japanese International Co-operation Agency in 2003.
She moved to the International Federation of Red Cross and Red Crescent Societies before moving to the World Health Organisation as a communications officer.
She came to the UK in 2007 after securing a scholarship at London Metropolitan University to study a master's in communication management and met her future husband through mutual friends a month later.
The couple were married in August 2009 in Winchester and their daughter was born in June 2014.
She was held in her native country a year later.
More on animal trafficking
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
ADCC AFC Women’s Champions League Group A fixtures
October 3: v Wuhan Jiangda Women’s FC
October 6: v Hyundai Steel Red Angels Women’s FC
October 9: v Sabah FA
The bio
Who inspires you?
I am in awe of the remarkable women in the Arab region, both big and small, pushing boundaries and becoming role models for generations. Emily Nasrallah was a writer, journalist, teacher and women’s rights activist
How do you relax?
Yoga relaxes me and helps me relieve tension, especially now when we’re practically chained to laptops and desks. I enjoy learning more about music and the history of famous music bands and genres.
What is favourite book?
The Perks of Being a Wallflower - I think I've read it more than 7 times
What is your favourite Arabic film?
Hala2 Lawen (Translation: Where Do We Go Now?) by Nadine Labaki
What is favourite English film?
Mamma Mia
Best piece of advice to someone looking for a career at Google?
If you’re interested in a career at Google, deep dive into the different career paths and pinpoint the space you want to join. When you know your space, you’re likely to identify the skills you need to develop.
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Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
KILLING OF QASSEM SULEIMANI
War 2
Director: Ayan Mukerji
Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana
Rating: 2/5
Company profile
Name: Tratok Portal
Founded: 2017
Based: UAE
Sector: Travel & tourism
Size: 36 employees
Funding: Privately funded
The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
Innotech Profile
Date started: 2013
Founder/CEO: Othman Al Mandhari
Based: Muscat, Oman
Sector: Additive manufacturing, 3D printing technologies
Size: 15 full-time employees
Stage: Seed stage and seeking Series A round of financing
Investors: Oman Technology Fund from 2017 to 2019, exited through an agreement with a new investor to secure new funding that it under negotiation right now.