As the year comes to an end, the Middle East finds itself filled with a mix of astonishment, hope and cautious reflection on the surprising events that have reshaped its dynamics.
Lebanon provided the first unexpected development after Israel severely degraded Hezbollah’s military capabilities, but Syria also remains cloaked in uncertainty.
It is too soon to shed any apprehension there is about the future of Syria, which continues to cast a long shadow, with repercussions not only for itself but also for Lebanon, the Arab world and the wider region.
There is undeniable joy in Syria following the overthrow of Bashar Al Assad’s government. Yet while the emergence of a “new Syria” sparks optimism, caution is prudent, particularly in this transitional phase.
Optimism for Lebanon meanwhile is justified, but only if all parties involved adhere to the ceasefire agreement between Beirut and Israel. Further, Lebanese leaders must adopt a fresh, earnest approach to state-building – one grounded in integrity and free from the corruption and political bargaining that have historically plagued the country and contributed to its decline.
Undeniably, developments in Syria exert a significant influence on Lebanon’s stability. Any descent into chaos in Syria could pose a serious threat to Lebanon’s path towards regeneration.
However, Lebanon could be immunised against any spillover – provided that violations of the ceasefire agreement by both Israel and Hezbollah are halted. Additionally, progress must be made by the guarantor countries to finalise border demarcations between the two countries, following the complete withdrawal of Israeli forces from all Lebanese territories.
Indeed, the implementation mechanism for UN Security Council Resolution 1701 offers Lebanon a historic opportunity to assert the authority of the state across its entire territory and to ensure that all armaments are exclusively under state control.
A critical test for this new era in Syrian-Lebanese relations will be Syria’s response to the question: are the Shebaa Farms Syrian or Lebanese
Hezbollah is aware of this reality and understands that Israel’s military machine stands ready to act should it violate the terms of the ceasefire agreement. Further, Hezbollah’s leadership is adept at interpreting the regional landscape and recognises that the setbacks faced by both itself and Iran in Syria are not mere coincidences but pivotal events with profound implications.
The characteristics and messages of Syria’s new administration signal a willingness to embark on a fresh chapter with Lebanon – one that moves away from the patterns of Syrian tutelage, suppression of Lebanese autonomy and the imposition of “interdependence of tracks” in their dealings with Israel.
This interdependence had long prevented either nation from pursuing an independent peace agreement, even if one achieved the end of occupation. The former Syrian government’s infringement on Lebanese sovereignty lies at the heart of its oppressive legacy.
The new Syrian leadership has hinted at a commitment to non-interference in Lebanese affairs. By extension, this suggests a readiness to accept the demarcation of Lebanese-Israeli borders, potentially paving the way for peace agreements once occupation ends.
A critical test for this new era in Syrian-Lebanese relations will be Syria’s response to the annual question presented by the UN Secretary General: are the Shebaa Farms Syrian or Lebanese?
If deemed Syrian, the area would remain under the jurisdiction of the UN Disengagement Observer Force until Syria and Israel reach a bilateral peace agreement. If, however, the new government in Damascus acknowledges the Shebaa Farms as Lebanese, negotiations would shift to Lebanon and Israel, requiring the dismantling of Undof there and transferring the territory to Lebanon.
Yet such a scenario remains improbable due to the complexity of the process and the inherent risks involved in dismantling the disengagement force. The new Syrian administration’s approach to this issue will be a defining factor in shaping regional dynamics and its relationship with Lebanon.
The path to neutralising the Shebaa Farms issue can be reached through a definitive Syrian clarification of the matter, and this in turn serves as a litmus test for the new Syrian administration’s sincerity in fostering a transformative relationship with Lebanon. Demonstrating such sincerity is crucial in affirming its new intentions in relation to its neighbour.
Normalising relations with Lebanon would not only benefit Lebanon but also bolster Syria, as it navigates a host of challenges in its efforts to reinvent itself.
Syria, however, is in a precarious position, aptly described by a friend well-versed in international affairs as “walking on thin ice”. This fragility stems from internal vertical divisions associated with dismantling the old government and horizontal divisions among various factions.
The initial optimism and rush to congratulations that marked the opening of a new chapter with post-Assad Syria are quickly giving way to the harsh realities of its political landscape. Rumblings of instability have surfaced even ahead of the elections likely to be held in March.
With significant influence in Syria today, Turkey harbours concerns about US support for the Kurdish-majority regions in the country, despite apparent backing from US president-elect Donald Trump for Ankara’s decisions regarding Syria.
Were the US to withdraw its personnel and support for these Kurdish-held areas, there is a real risk of the forces that control them turning to radicalism and waging retaliatory actions against both Turkish and American interests.
The incoming Trump administration may yet recognise the importance of distinguishing between Kurdish factions that Turkey labels as terrorist and other Kurdish-led groups, such as the Syrian Democratic Forces, which have been US partners in Syria. However, failing to act with such nuance risks not only retaliation against Turkey but also the destabilisation of broader efforts to secure stability in Syria.
Indeed, Syria remains at the centre of uncertainty and peril. Reports of extremist groups preparing to transform it into a hub for a more sophisticated iteration of ISIS must not be dismissed. Should international powers, especially the US, neglect these warnings, they could inadvertently turn Syria’s hard-won progress into a catastrophe.
Supporting the new Syria requires prioritising its emergence as a modern, secular and inclusive state, unified under a cohesive national identity. It entails preventing the country from becoming ensnared by troubles in the Kurdish-majority areas, while fostering normalised relations between Syria and Lebanon as two sovereign states. For its part, Israel must abandon its policies of aggression towards Syrian sovereignty, committing instead to ending its occupation of its territories.
The justified joy of this transitional moment must be accompanied by a shared vision for development in both Lebanon and Syria – two nations with ancient roots and intertwined destinies. For now, both are treading forward on very thin ice.
Read more about the coronavirus
Results
5pm: Wadi Nagab – Maiden (PA) Dh80,000 (Turf) 1,200m; Winner: Al Falaq, Antonio Fresu (jockey), Ahmed Al Shemaili (trainer)
5.30pm: Wadi Sidr – Handicap (PA) Dh80,000 (T) 1,200m; Winner: AF Majalis, Tadhg O’Shea, Ernst Oertel
6pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 2,200m; Winner: AF Fakhama, Fernando Jara, Mohamed Daggash
6.30pm: Wadi Shees – Handicap (PA) Dh80,000 (T) 2,200m; Winner: Mutaqadim, Antonio Fresu, Ibrahim Al Hadhrami
7pm: Arabian Triple Crown Round-1 – Listed (PA) Dh230,000 (T) 1,600m; Winner: Bahar Muscat, Antonio Fresu, Ibrahim Al Hadhrami
7.30pm: Wadi Tayyibah – Maiden (TB) Dh80,000 (T) 1,600m; Winner: Poster Paint, Patrick Cosgrave, Bhupat Seemar
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
Famous left-handers
- Marie Curie
- Jimi Hendrix
- Leonardo Di Vinci
- David Bowie
- Paul McCartney
- Albert Einstein
- Jack the Ripper
- Barack Obama
- Helen Keller
- Joan of Arc
Take Me Apart
Kelela
(Warp)
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
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
The Voice of Hind Rajab
Starring: Saja Kilani, Clara Khoury, Motaz Malhees
Director: Kaouther Ben Hania
Rating: 4/5
Final scores
18 under: Tyrrell Hatton (ENG)
- 14: Jason Scrivener (AUS)
-13: Rory McIlroy (NIR)
-12: Rafa Cabrera Bello (ESP)
-11: David Lipsky (USA), Marc Warren (SCO)
-10: Tommy Fleetwood (ENG), Chris Paisley (ENG), Matt Wallace (ENG), Fabrizio Zanotti (PAR)
ANATOMY%20OF%20A%20FALL
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Results
Ashraf Ghani 50.64 per cent
Abdullah Abdullah 39.52 per cent
Gulbuddin Hekmatyar 3.85 per cent
Rahmatullah Nabil 1.8 per cent
Brief scoreline:
Al Wahda 2
Al Menhali 27', Tagliabue 79'
Al Nassr 3
Hamdallah 41', Giuliano 45 1', 62'
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.”
'Unrivaled: Why America Will Remain the World’s Sole Superpower'
Michael Beckley, Cornell Press
match info
Manchester United 3 (Martial 7', 44', 74')
Sheffield United 0
The candidates
Dr Ayham Ammora, scientist and business executive
Ali Azeem, business leader
Tony Booth, professor of education
Lord Browne, former BP chief executive
Dr Mohamed El-Erian, economist
Professor Wyn Evans, astrophysicist
Dr Mark Mann, scientist
Gina MIller, anti-Brexit campaigner
Lord Smith, former Cabinet minister
Sandi Toksvig, broadcaster
The rules on fostering in the UAE
A foster couple or family must:
- be Muslim, Emirati and be residing in the UAE
- not be younger than 25 years old
- not have been convicted of offences or crimes involving moral turpitude
- be free of infectious diseases or psychological and mental disorders
- have the ability to support its members and the foster child financially
- undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
EMERGENCY PHONE NUMBERS
Estijaba – 8001717 – number to call to request coronavirus testing
Ministry of Health and Prevention – 80011111
Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre
Emirates airline – 600555555
Etihad Airways – 600555666
Ambulance – 998
Knowledge and Human Development Authority – 8005432 ext. 4 for Covid-19 queries
RESULTS
Manchester United 2
Anthony Martial 30'
Scott McTominay 90 6'
Manchester City 0
MEYDAN CARD
6.30pm Al Maktoum Challenge Round-1 Group One (PA) US$65,000 (Dirt) 1,600m
7.05pm Handicap (TB) $175,000 (Turf) 1,200m
7.40pm UAE 2000 Guineas Trial Conditions (TB) $100,000 (D) 1,600m
8.15pm Singspiel Stakes Group Two (TB) $250,000 (T) 1,800m
8.50pm Handicap (TB) $135,000 (T) 1,600m
9.25pm Al Maktoum Challenge Round-1 Group Two (TB) $350,000 (D) 1,600m
10pm Dubai Trophy Conditions (TB) $100,000 (T) 1,200m
10.35pm Handicap (TB) $135,000 (T) 1,600m
The National selections:
6.30pm AF Alwajel
7.05pm Ekhtiyaar
7.40pm First View
8.15pm Benbatl
8.50pm Zakouski
9.25pm: Kimbear
10pm: Chasing Dreams
10.35pm: Good Fortune
Walls
Louis Tomlinson
3 out of 5 stars
(Syco Music/Arista Records)
The%20specs
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%20Ramez%20Gab%20Min%20El%20Akher
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The%C2%A0specs%20
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Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
Why your domicile status is important
Your UK residence status is assessed using the statutory residence test. While your residence status – ie where you live - is assessed every year, your domicile status is assessed over your lifetime.
Your domicile of origin generally comes from your parents and if your parents were not married, then it is decided by your father. Your domicile is generally the country your father considered his permanent home when you were born.
UK residents who have their permanent home ("domicile") outside the UK may not have to pay UK tax on foreign income. For example, they do not pay tax on foreign income or gains if they are less than £2,000 in the tax year and do not transfer that gain to a UK bank account.
A UK-domiciled person, however, is liable for UK tax on their worldwide income and gains when they are resident in the UK.
Brief scoreline:
Manchester United 2
Rashford 28', Martial 72'
Watford 1
Doucoure 90'
KINGDOM%20OF%20THE%20PLANET%20OF%20THE%20APES
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Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
Profile of Bitex UAE
Date of launch: November 2018
Founder: Monark Modi
Based: Business Bay, Dubai
Sector: Financial services
Size: Eight employees
Investors: Self-funded to date with $1m of personal savings
MATCH DETAILS
Liverpool 2
Wijnaldum (14), Oxlade-Chamberlain (52)
Genk 1
Samatta (40)
UAE currency: the story behind the money in your pockets
Quick%20facts
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Fitness problems in men's tennis
Andy Murray - hip
Novak Djokovic - elbow
Roger Federer - back
Stan Wawrinka - knee
Kei Nishikori - wrist
Marin Cilic - adductor
Manchester United v Club America
When: Thursday, 9pm Arizona time (Friday UAE, 8am)
KILLING OF QASSEM SULEIMANI