The UN envoy for Syria has welcomed the US decision to ease some sanctions against Damascus to enable humanitarian aid deliveries, but called for a greater push for long-term relief.
Geir Pedersen's remarks on Wednesday came after US President Joe Biden's administration this week issued a six-month suspension of sanctions on Syrian governing institutions.
“I welcome the recent issuance of a new temporary general licence by the United States government. But significant further efforts to adjust sanctions will inevitably be necessary,” Mr Pedersen told the UN Security Council, in its first meeting of the year on Syria.
Syria's Foreign Affairs Ministry on Wednesday said the complete removal of sanctions “is essential” to allow for Syria's recovery. Since 2011, Syria has been under severe sanctions imposed by countries and blocs including the US, the UK and the EU after former president Bashar Al Assad's brutal response to pro-democracy protests, which escalated into a civil war.
The group that toppled Mr Al Assad, former Al Qaeda affiliate Hayat Tahrir Al Sham, remains a US-designated terrorist organisation. But Washington says it would work with HTS, which has renounced its ties with Al Qaeda, if it can prove it has moderated its views.
France’s Foreign Minister Jean-Noel Barrot said the EU could also ease some sanctions related to aid, but the lifting of more political sanctions would depend on how Syria's new leadership handled the transition.
HTS leader Ahmad Al Shara, formerly known by the nom de guerre Abu Mohammed Al Jawlani, has announced plans for a national conference to assist the country's transition, with a timeline of up to four years for holding elections. He also said he intends to form a committee representing various sectors of Syrian society to prepare for the dialogue.
Mr Pedersen warned the caretaker authorities against making mistakes that would imperil the transition, after decades of dictatorship under Mr Al Assad.
“Decisions taken now will determine the future for a long time to come. There are great opportunities and real dangers,” he said, stressing that Syria and the international community need to “get the next phase right".
Mr Pedersen also discussed UN Security Council Resolution 2254, which backs a political process led by Syrians to form a non-sectarian government within six months and to hold elections within 18 months. He said the resolution, which was written when Mr Al Assad was in power, can no longer be applied “in the literal manner”. “Clearly, there is a need for a new approach and modes of thinking on many fronts,” he said.
In a recent interview with Saudi broadcaster Al Arabiya, Mr Al Shara criticised the UN's ineffectiveness and called on the world body to avoid imposing outdated resolutions on Syrians.
“There has been a lot of suffering and there have been many attempts to fix the Syrian situation, but the UN and the international community failed to release a single prisoner in 14 years and failed to return a single refugee,” he said. “So, today, the Syrian people have saved themselves.”
Qutaiba Idlbi, who leads the Atlantic Council's Syria Strategy, said much work was needed from Mr Pedersen’s team to “create trust” in Damascus, especially as recent years included normalisation of ties with the Assad regime.
It “didn't really reflect well on the work of ambassador Pedersen”, Mr Idlbi told The National. “We see at the same time people in Damascus now calling to actually change the UN special envoy for Syria to reflect like a better ... more positive environment between the UN and Damascus."
Richard Gowan, UN director of the International Crisis Group, said Mr Pedersen and his team faced the substantial challenge of convincing Syrian political factions of the “concrete benefits” of working with the UN.
“It is all well and good for the UN to encourage an inclusive transition, but the new power-brokers will want to know what they will get in return for co-operation,” said Mr Gowan. "The Security Council could offer a clear road map for ending UN sanctions on the new authorities, if they meet certain conditions on political inclusion and counter-terrorism issues. That would give Pedersen some leverage, and Damascus a reason to listen to New York."
SPEC%20SHEET%3A%20SAMSUNG%20GALAXY%20Z%20FLIP%204
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UAE currency: the story behind the money in your pockets
The National in Davos
We are bringing you the inside story from the World Economic Forum's Annual Meeting in Davos, a gathering of hundreds of world leaders, top executives and billionaires.
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
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.”
Mane points for safe home colouring
- Natural and grey hair takes colour differently than chemically treated hair
- Taking hair from a dark to a light colour should involve a slow transition through warmer stages of colour
- When choosing a colour (especially a lighter tone), allow for a natural lift of warmth
- Most modern hair colours are technique-based, in that they require a confident hand and taught skills
- If you decide to be brave and go for it, seek professional advice and use a semi-permanent colour
WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
Killing of Qassem Suleimani
Miss Granny
Director: Joyce Bernal
Starring: Sarah Geronimo, James Reid, Xian Lim, Nova Villa
3/5
(Tagalog with Eng/Ar subtitles)
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants
RESULT
Liverpool 4 Southampton 0
Jota (2', 32')
Thiago (37')
Van Dijk (52')
Man of the match: Diogo Jota (Liverpool)
Indoor Cricket World Cup
Venue Insportz, Dubai, September 16-23
UAE squad Saqib Nazir (captain), Aaqib Malik, Fahad Al Hashmi, Isuru Umesh, Nadir Hussain, Sachin Talwar, Nashwan Nasir, Prashath Kumara, Ramveer Rai, Sameer Nayyak, Umar Shah, Vikrant Shetty
In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
- Energy engineer: Dh25,000 to Dh30,000
- Production engineer: Dh30,000 to Dh40,000
- Data-driven supply chain management professional: Dh30,000 to Dh50,000
- HR leader: Dh40,000 to Dh60,000
- Engineering leader: Dh30,000 to Dh55,000
- Project manager: Dh55,000 to Dh65,000
- Senior reservoir engineer: Dh40,000 to Dh55,000
- Senior drilling engineer: Dh38,000 to Dh46,000
- Senior process engineer: Dh28,000 to Dh38,000
- Senior maintenance engineer: Dh22,000 to Dh34,000
- Field engineer: Dh6,500 to Dh7,500
- Field supervisor: Dh9,000 to Dh12,000
- Field operator: Dh5,000 to Dh7,000
German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
MATCH INFO
Uefa Champions League semi-final, second leg
Real Madrid (2) v Bayern Munich (1)
Where: Santiago Bernabeu, Madrid
When: 10.45pm, Tuesday
Watch Live: beIN Sports HD
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Sam Smith
Where: du Arena, Abu Dhabi
When: Saturday November 24
Rating: 4/5