Iranian women near banners of (L-R) Hezbollah leader Hasan Nasrallah, Iran's deceased former president Ebrahim Raisi, and the IRGC's late Qassem Soleimani and Abbas Nilforoushan during an anti-Israeli rally on October 2. EPA
Iranian women near banners of (L-R) Hezbollah leader Hasan Nasrallah, Iran's deceased former president Ebrahim Raisi, and the IRGC's late Qassem Soleimani and Abbas Nilforoushan during an anti-Israeli rally on October 2. EPA
Iranian women near banners of (L-R) Hezbollah leader Hasan Nasrallah, Iran's deceased former president Ebrahim Raisi, and the IRGC's late Qassem Soleimani and Abbas Nilforoushan during an anti-Israeli rally on October 2. EPA
Iranian women near banners of (L-R) Hezbollah leader Hasan Nasrallah, Iran's deceased former president Ebrahim Raisi, and the IRGC's late Qassem Soleimani and Abbas Nilforoushan during an anti-Israeli


This is Lebanon's chance to free itself from the clutches of Iran and Israel


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October 06, 2024

We are witnessing a shift in both the Iranian and Israeli doctrines, yet we don’t know where the compass needle will settle in either case. The future of the Middle East hinges on it.

The question is whether Iran is genuinely ready to soften its doctrine because its strategic needs necessitate a radical reassessment, or whether it is merely manoeuvring temporarily to catch its breath before continuing to support its proxies across the Arab world. Similarly, does Israel view the current moment as opportune for making a qualitative leap to expand its territory?

We are no longer in a time when global superpowers could impose their decisions on regional powers. In fact, it might be the opposite, whether through defiance or evasion. No heavyweight countries can remain the sole superpower – including the US. There is no longer a balance of power among the major powers to pressure their regional proxies or partners, with the other applying a counterweight.

As for the UN, it is no longer an effective mechanism for conflict resolution, or for enforcing settlements. The Security Council has been undermined, as has been the Secretary General, Antonio Guterres, with Israel declaring him persona non grata.

Yet the key to restoring relevance, exerting influence, and acting rationally now lies in Lebanon, specifically through the implementation of Security Council Resolution 1701. It offers a roadmap for creative thinking and action for all stakeholders, but its implementation requires political courage from all parties without exception.

For starters, the UN Secretariat should stop placing Lebanon in the same category as Gaza. It’s time to separate the two, at least because Lebanon is a sovereign state, whereas Gaza is not a member state of the UN. Indeed, there is no need to uphold what Hezbollah’s late secretary general, Hassan Nasrallah, called the “Lebanese front to support Gaza”, which eventually dragged Lebanon into a war with Israel.

The global body has two roles to play in Lebanon. One is to provide protection to those still remaining in southern Lebanon by strengthening the UN Interim Force in Lebanon (Unifil). The other is to co-ordinate international support to rehabilitate the one million people displaced across the country.

The implementation of Resolution 1701 has become critically important today, because Hezbollah can no longer impose itself by force in the zone between the Lebanon-Israel border and the Litani River, where the Lebanese state was supposed to exert exclusive authority under this resolution. Hezbollah usurped the state’s sovereignty by imposing itself in place of the army, thereby violating 1701. Israel has also violated the resolution by repeatedly breaching Lebanese air space and, more recently, through incursions into southern Lebanon.

Today, following two weeks of Israeli operations against its leadership and military infrastructure, Hezbollah is prepared to withdraw to the north of the Litani River, as confirmed by both interim Prime Minister Najib Mikati and Speaker of Parliament Nabih Berri. The important thing, then, is to ensure that the Lebanese army is empowered with all the resources it needs to replace Hezbollah in the south, supported by an enhanced Unifil.

We are no longer in a time when global superpowers could impose their decisions on regional powers

This will prevent Israel from reoccupying the buffer zone due to the security vacuum or from taking it upon itself to impose a buffer zone, as it trusts no one but itself and is committed to ensuring the safe return of settlers to northern Israel.

The responsibility falls on Lebanon’s leaders to hold a session to elect a president without conditions or excuses. It is essential for Mr Berri, Mr Mikati and others to show the courage to save their country. Indeed, implementing Resolution 1701 would mean enforcing another UN Security Council resolution – 1559 – which Mr Berri opposes because it calls for the disarmament of Hezbollah and the Palestinian factions based in Lebanon.

Lebanese caretaker Prime Minister Najib Mikati, Parliament Speaker Nabih Berri and the Druze leader Walid Joumblatt meet in Beirut earlier in the week. EPA
Lebanese caretaker Prime Minister Najib Mikati, Parliament Speaker Nabih Berri and the Druze leader Walid Joumblatt meet in Beirut earlier in the week. EPA

The restoration of state sovereignty, including in southern Lebanon, rests on these actions.

It is this sovereignty that has been infringed upon by both Israel and Iran for decades. Cases in point include Israel’s war against Hezbollah and Iran’s response when its ambassador to the UN recently called for a Security Council session after Nasrallah’s killing.

But Iran remains essential to all agreements, particularly from the perspective of the US administration under President Joe Biden, whose officials dealing with Lebanon believe that Hezbollah’s willingness to withdraw from the south is due to a directive from Tehran.

There is talk these days that the relationship between Iran and Hezbollah is going through a phase of distrust, with questions asked as to whether Tehran has thrown Hezbollah under the Israeli bus as part of a deal being prepared behind the scenes with the Biden administration, in indirect co-ordination with Israel.

After all, there are those who believe that Israel could not have achieved its recent successes against Hezbollah without either co-operating with Iran or breaching its defences. But why co-operation, one might ask? This is because Iran’s national interests take precedence – such as preserving its nuclear weapons programme in exchange for ending US-led sanctions against it – even if it means temporarily sacrificing its most valuable proxies.

The Biden administration appears keen to clinch a deal with Iran, and for this it acted decisively when Israel was ready to retaliate after Iran fired missiles at it last week. Israel’s retaliation plan reportedly includes air strikes on Iran’s nuclear and oil facilities, but the Biden administration has told Israel that America does not want to be dragged into a war with Iran and that Israel should not assume that it has US military cover for such strikes.

Israel may still choose to strike Iranian nuclear facilities. But this is a costly and dangerous gamble, as it would be fighting on three fronts while exposing its own citizenry to the consequences of further Iranian retaliation.

The choice for the region’s two adversaries could, therefore, not be clearer.

The bio

Favourite book: Peter Rabbit. I used to read it to my three children and still read it myself. If I am feeling down it brings back good memories.

Best thing about your job: Getting to help people. My mum always told me never to pass up an opportunity to do a good deed.

Best part of life in the UAE: The weather. The constant sunshine is amazing and there is always something to do, you have so many options when it comes to how to spend your day.

Favourite holiday destination: Malaysia. I went there for my honeymoon and ended up volunteering to teach local children for a few hours each day. It is such a special place and I plan to retire there one day.

MATCH INFO

Who: UAE v USA
What: first T20 international
When: Friday, 2pm
Where: ICC Academy in Dubai

UAE currency: the story behind the money in your pockets
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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.”

UAE currency: the story behind the money in your pockets
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Groom and Two Brides

Director: Elie Semaan

Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

Simran

Director Hansal Mehta

Stars: Kangana Ranaut, Soham Shah, Esha Tiwari Pandey

Three stars

ULTRA PROCESSED FOODS

- Carbonated drinks, sweet or savoury packaged snacks, confectionery, mass-produced packaged breads and buns 

- Margarines and spreads; cookies, biscuits, pastries, cakes, and cake mixes, breakfast cereals, cereal and energy bars

- Energy drinks, milk drinks, fruit yoghurts and fruit drinks, cocoa drinks, meat and chicken extracts and instant sauces

- Infant formulas and follow-on milks, health and slimming products such as powdered or fortified meal and dish substitutes

- Many ready-to-heat products including pre-prepared pies and pasta and pizza dishes, poultry and fish nuggets and sticks, sausages, burgers, hot dogs, and other reconstituted meat products, powdered and packaged instant soups, noodles and desserts

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

UAE currency: the story behind the money in your pockets
Klopp at the Kop

Matches 68; Wins 35; Draws 19; Losses 14; Goals For 133; Goals Against 82

  • Eighth place in Premier League in 2015/16
  • Runners-up in Europa League in 2016
  • Runners-up in League Cup in 2016
  • Fourth place in Premier League in 2016/17
The specs

Engine: 4.0-litre, twin-turbocharged V8

Transmission: nine-speed automatic

Power: 630bhp

Torque: 900Nm

Price: Dh810,000

Ms Yang's top tips for parents new to the UAE
  1. Join parent networks
  2. Look beyond school fees
  3. Keep an open mind
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Jetour T1 specs

Engine: 2-litre turbocharged

Power: 254hp

Torque: 390Nm

Price: From Dh126,000

Available: Now

Key figures in the life of the fort

Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.

Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.

Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.

Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.

Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.

Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.

Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.

Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.

Sources: Jayanti Maitra, www.adach.ae

Updated: October 07, 2024, 11:43 AM