US Secretary of State John Kerry kicks a football around during an airplane refuelling stop on Sal Island in Cape Verde, enroute to Washington DC (REUTERS/Saul Loeb)
US Secretary of State John Kerry kicks a football around during an airplane refuelling stop on Sal Island in Cape Verde, enroute to Washington DC (REUTERS/Saul Loeb)

An absent America is the worst of all possible worlds



Did he or didn’t he say it? Ever since America’s secretary of state John Kerry gave an interview about the Syrian conflict on Sunday, Washington has been trying to qualify and explain his comments.

Speaking to a US TV network, Mr Kerry said: “We have to negotiate in the end.” That was translated as either a capitulation to Bashar Al Assad, a recognition of the reality of the conflict or an unwise tipping of America’s negotiating hand.

It was, of course, nothing of the sort, as the next sentence from Mr Kerry revealed: “And what we’re pushing for is to get him to come and do that, and it may require that there be increased pressure on him of various kinds in order to do that.”

That was also misinterpreted – was Mr Kerry suggesting he would speak directly to Mr Al Assad? The State Department later clarified, no.

So no change, then, in US policy. Mr Al Assad must still go, he must go as part of a political transition and the best way to persuade him to go is to put unspecified pressure on him.

As anyone will know who has even vaguely followed the contortions of the Syrian civil war – which has now entered its fifth year – US and western policy over Syria has been not merely ineffective; it has been a catastrophe. America has been involved in some way in the Syrian civil war for almost as long as it was involved in the Second World War.

The flip-flopping in Washington over Mr Kerry’s remarks reflects a broader flip-flopping in US policy towards Syria. Western policy has failed Syria – and it has failed on America’s watch.

Already, one can hear the chorus of criticism that rises whenever the Middle East criticises America for not doing enough. Why does the region always expect America to get involved? Let the region, so the argument runs, sort out its own problems.

That argument would be fine were it not for the realities of history and power. The status quo was not brought about by the Arabs alone, nor are the Arabs alone in demanding American action. America did not ask permission when it invaded Iraq in 2003 – and the consequences of that war have been felt by the Arabs, first and foremost.

Recall, too, that it was Israel’s president who stood before America’s Congress this month and demanded America do what he was unwilling to do himself.

Moreover, the US cannot simply walk away from the Middle East, not after spending so many years backing Israel militarily, invading Iraq, sanctioning Iran – to say nothing of all the covert deals and operations. History did not begin on 9/11, or with the Iraq invasion or during this phase of the Syrian crisis.

Indeed, on Syria specifically, America not only refused to get involved but also restrained the Middle East from seeking to solve the issue: Washington has both declined to offer the Syrian rebels the portable anti-aircraft missiles they have been asking for for three years, and stopped Turkey and regional allies providing them.

A more realistic position is that, for better or worse, the US is heavily involved in the region and will be for some time to come. The question, then, is not about whether the US is involved in the Middle East, but what shape that involvement takes.

American involvement, delivered properly, is broadly a good thing for the region. America’s military and diplomatic weight is unrivalled and it can still do some things that no one else, including countries in the region, can do.

But America is today, at best, an absent-minded ally. Washington seeks to influence in some areas – extensively in Iraq and Iran, to a lesser extent in Lebanon – but then also wants to step back from tricky challenges such as Syria and Yemen. Half involved and half afraid, America is too often a fair weather friend.

That is neither a coherent nor effective policy. While America flirts with leaving the Middle East, other countries are seeking to fill the gap, from Russia to Iran. In this middle moment between too much engagement and none at all, new alliances are being forged – but those alliances cost time, effort and money.

Countries in the Middle East, and especially in the Gulf, have spent too much political energy and financial capital on their relationship with the US. America owes the region some loyalty.

The worst reality for the Middle East is the one it is living: a disengaged America with one foot out of the door.

falyafai@thenational.ae

On Twitter: @FaisalAlYafai

Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
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NO OTHER LAND

Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal

Stars: Basel Adra, Yuval Abraham

Rating: 3.5/5

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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.”

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Tips for job-seekers
  • Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
  • Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.

David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East

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Joe Root (captain), Moeen Ali, James Anderson, Jonny Bairstow (wicketkeeper), Stuart Broad, Jos Buttler, Alastair Cook, Sam Curran, Keaton Jennings, Dawid Malan, Jamie Porter, Adil Rashid, Ben Stokes.

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In numbers: PKK’s money network in Europe

Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010

Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille

Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm

Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year

Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”

Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners

TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013 

Test

Director: S Sashikanth

Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan

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THE%20SWIMMERS
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Yahya Al Ghassani's bio

Date of birth: April 18, 1998

Playing position: Winger

Clubs: 2015-2017 – Al Ahli Dubai; March-June 2018 – Paris FC; August – Al Wahda

UAE v Ireland

1st ODI, UAE win by 6 wickets

2nd ODI, January 12

3rd ODI, January 14

4th ODI, January 16

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At a glance

Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.

 

Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year

 

Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month

 

Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30 

 

Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse

 

Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth

 

Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances

UAE currency: the story behind the money in your pockets
Skewed figures

In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.