It has been five years since ISIS lost control of its last stronghold in its self-proclaimed caliphate. The group that once controlled territory eight times the size of Lebanon is no longer a global menace. However, the mission that brought together a global coalition of more than 60 states to fight it remains unfinished.
As an adaptable insurgency, ISIS has shifted its tactics. It relies on veteran, more decentralised cells to carry out a steady stream of small-scale yet deadly operations across parts of Syria, as well as some regions of Iraq. It extorts local businesses while simultaneously recruiting a new generation of fighters. Much as when its predecessor, Al Qaeda in Iraq, was on the ropes about 15 years ago, this approach keeps ISIS in the game, and generates revenue as it awaits an opportunity for resurgence.
North-east Syria remains especially vulnerable. The region that comprises ISIS’s former de facto capital, Raqqa, is currently controlled by Kurdish-led fighters best known as the Syrian Democratic Forces, or SDF. The SDF built its reputation as an effective counter-ISIS force on its ability to hold and secure the areas it captured. Yet this capacity is tied to continued American support and protection. Although few in number, the US troops and air assets based in the area deter the Syrian regime and its Russian and Iranian backers from attempting to retake the north-east by force. The American deployment also helps keep neighbouring Turkey from moving in to crush the SDF, whose parent organisation the Kurdistan Workers’ Party, or PKK, has fought an insurgency in Turkey since the early 1980s and is designated by Ankara (as well as Brussels and Washington) as a terrorist organisation.
But despite its earlier gains in battles against ISIS, the SDF is limited in its ability to keep a lid on ISIS cells in the area. SDF-held territory is relatively rich in natural resources, notably oil and gas, and has informal economic ties to the rest of Syria and Iraq. Relying on racketeering, extortion and smuggling, ISIS has been able to fund small-scale attacks, continue recruiting, support the families of its fighters and pay bribes to secure ISIS releases from SDF custody. As deadly cells continue to assassinate and threaten locals, they sow fear, thus hampering the SDF and US-led coalition’s efforts to collect the intelligence needed to mop up ISIS remnants.
The detention centres and camps holding ISIS inmates, affiliated women, and children are equally vulnerable. The SDF has been housing families of foreign and Syrian ISIS fighters in makeshift camps, with the largest one located in Al Hol, Hasakah. In 2019, thousands of people who fled the militants’ last stronghold in Deir Ezzor were placed in this camp as a "temporary measure". Five years later, the camp not only still exists, but security and humanitarian conditions inside it have deteriorated significantly, with ISIS visibly active in parts of it. Today, the camp houses more than 40,000 people, mostly children (thousands of whom are undocumented) and female relatives of suspected ISIS militants from diverse backgrounds and affiliations, many of them Iraqis. They are living in horrendous conditions and continuously attempt to escape.
A full US withdrawal from Syria would likely put Kurdish-led fighters in direct confrontation with powerful adversaries
These camps have received a good deal of attention from western policy makers, but little has changed. Al Hol camp in particular has become infamous, regularly appearing in media headlines and as the focus of numerous US government meetings. Yet this coverage and scrutiny have not translated into a strategy by the SDF or the coalition to provide an acceptable and humane exit for those who remain trapped there; apart from thousands of Iraqis who have been repatriated, most efforts have focused on the camp’s smaller group of Europeans. Likewise, the SDF’s arduous – and arguably thankless – mission to hold families suspected of ISIS affiliation has led to opposition from rights groups and criticism from locals who want the SDF's resources directed to improving governance and security in their areas.
The SDF has accused European governments of dragging their feet on repatriating their citizens. Conversely, western officials have accused the SDF of using the camps as a bargaining chip. Both sides have a point. Some European governments have even revoked the citizenship of their stranded nationals, in an attempt to absolve themselves of the problem. Meanwhile, the SDF has tried to leverage the situation, seeking political recognition in exchange for keeping the foreign detainees away from Europe. Despite American diplomatic efforts, this continuing standoff has hindered any decisive resolution to the crisis in the camps.
The fates of these camps and their residents are tied to the continuation of a shaky status quo. The SDF has spent significant bandwidth and resources to secure and maintain the camps, and it is highly unlikely that it would voluntarily ease its grip over them. But a lot could go wrong. It could find itself in a very precarious situation if Donald Trump were to return to power.
During his last term, Mr Trump expressed his desire – more than once – to pull American troops out of Syria, and showed little concern for the consequences of the precipitous US military drawdown he ordered. A ull American withdrawal from Syria, or perhaps even the sense that one might be imminent, would probably put the SDF in direct confrontation with adversaries much more powerful than itself, be it Turkey, Damascus and its Russian and Iranian backers, or all of the above. In this scenario, it’s hard to see the SDF prioritising guarding the camps over protecting its own territory.
Today this very real risk is buried down a list of more pressing international conflicts, but the fear is that if and when it happens, it might be too late to do much about it. And if the war in Gaza has taught us anything, it’s that ignoring problems in the Middle East will not make them go away.
match info
Maratha Arabians 138-2
C Lynn 91*, A Lyth 20, B Laughlin 1-15
Team Abu Dhabi 114-3
L Wright 40*, L Malinga 0-13, M McClenaghan 1-17
Maratha Arabians won by 24 runs
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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.”
The Bio
Favourite Emirati dish: I have so many because it has a lot of herbs and vegetables. Harees (oats with chicken) is one of them
Favourite place to go to: Dubai Mall because it has lots of sports shops.
Her motivation: My performance because I know that whatever I do, if I put the effort in, I’ll get results
During her free time: I like to drink coffee - a latte no sugar and no flavours. I do not like cold drinks
Pet peeve: That with every meal they give you a fries and Pepsi. That is so unhealthy
Advice to anyone who wants to be an ironman: Go for the goal. If you are consistent, you will get there. With the first one, it might not be what they want but they should start and just do it
APPLE IPAD MINI (A17 PRO)
Display: 21cm Liquid Retina Display, 2266 x 1488, 326ppi, 500 nits
Chip: Apple A17 Pro, 6-core CPU, 5-core GPU, 16-core Neural Engine
Storage: 128/256/512GB
Main camera: 12MP wide, f/1.8, digital zoom up to 5x, Smart HDR 4
Front camera: 12MP ultra-wide, f/2.4, Smart HDR 4, full-HD @ 25/30/60fps
Biometrics: Touch ID, Face ID
Colours: Blue, purple, space grey, starlight
In the box: iPad mini, USB-C cable, 20W USB-C power adapter
Price: From Dh2,099
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
EPL's youngest
- Ethan Nwaneri (Arsenal)
15 years, 181 days old
- Max Dowman (Arsenal)
15 years, 235 days old
- Jeremy Monga (Leicester)
15 years, 271 days old
- Harvey Elliott (Fulham)
16 years, 30 days old
- Matthew Briggs (Fulham)
16 years, 68 days old
JAPAN SQUAD
Goalkeepers: Masaaki Higashiguchi, Shuichi Gonda, Daniel Schmidt
Defenders: Yuto Nagatomo, Tomoaki Makino, Maya Yoshida, Sho Sasaki, Hiroki Sakai, Sei Muroya, Genta Miura, Takehiro Tomiyasu
Midfielders: Toshihiro Aoyama, Genki Haraguchi, Gaku Shibasaki, Wataru Endo, Junya Ito, Shoya Nakajima, Takumi Minamino, Hidemasa Morita, Ritsu Doan
Forwards: Yuya Osako, Takuma Asano, Koya Kitagawa
Signs%20of%20%20%20%20%20%20%20heat%20stroke
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BIO
Favourite holiday destination: Turkey - because the government look after animals so well there.
Favourite film: I love scary movies. I have so many favourites but The Ring stands out.
Favourite book: The Lord of the Rings. I didn’t like the movies but I loved the books.
Favourite colour: Black.
Favourite music: Hard rock. I actually also perform as a rock DJ in Dubai.
Sour%20Grapes
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The specs: Fenyr SuperSport
Price, base: Dh5.1 million
Engine: 3.8-litre twin-turbo flat-six
Transmission: Seven-speed automatic
Power: 800hp @ 7,100pm
Torque: 980Nm @ 4,000rpm
Fuel economy, combined: 13.5L / 100km
FIGHT%20CARD
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FIXTURES
Thursday
Dibba v Al Dhafra, Fujairah Stadium (5pm)
Al Wahda v Hatta, Al Nahyan Stadium (8pm)
Friday
Al Nasr v Ajman, Zabeel Stadium (5pm)
Al Jazria v Al Wasl, Mohammed Bin Zayed Stadium (8pm)
Saturday
Emirates v Al Ain, Emirates Club Stadium (5pm)
Sharjah v Shabab Al Ahli Dubai, Sharjah Stadium (8pm)
Match info
What: Fifa Club World Cup play-off
Who: Al Ain v Team Wellington
Where: Hazza bin Zayed Stadium, Al Ain
When: Wednesday, kick off 7.30pm
SPECS
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Story%20behind%20the%20UAE%20flag
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