As the death toll from last Friday’s earthquake in Myanmar nears 3,000 – almost certainly a huge underestimate, given the difficulty of accurate reporting from the strife-riven country – long-term observers must ask themselves if there is any end to its woes, or any hope for a more peaceful future?
Some see the disaster as an omen that could spell the end of Senior General Min Aung Hlaing’s rule. But otherwise, there is little to suggest that the civil war unleashed when the military overthrew the duly elected National League for Democracy (NLD) government headed by Aung San Suu Kyi in February 2021 is about to cease.
The Tatmadaw, or armed forces, may never have controlled so little of the country. Far less than half of Myanmar is still in their hands, and last December they lost control of an entire border – that with Bangladesh, after a bloody battle with the Arakan Army, one of several insurgent groups resisting military rule. But according to a report by the Office of the UN High Commissioner for Human Rights in January, that didn’t stop them ramping up violence against civilians last year “to unprecedented levels, inflicting the heaviest civilian death toll since they launched their coup four years ago”.
The report found that “as the military’s grip on power eroded, it launched wave after wave of retaliatory air strikes and artillery shelling on civilians and civilian populated areas, forced thousands of young people into military service, conducted arbitrary arrests and prosecutions, caused mass displacement, and denied access to humanitarians, even in the face of natural disasters.” The UN estimated over 3.5 million people had been displaced, and 20 million were in need of humanitarian assistance. And that was before the earthquake.
An Assad-style collapse could be possible. But the Tatmadaw have not been propped up by external actors, as the Syrian regime was. They have had the key levers of power in their hands since 1962, when General Ne Win snuffed out the country’s nascent democracy, and they are used to acting on their own, unmoved by local, regional or global condemnation.
Not only is the country four years into a civil war which the Tatmadaw started, but they have continued air strikes even as rescue operations after the earthquake grow ever more desperate
Those who take the longer view might argue that Myanmar has never not been in a state of civil war, from independence in 1948 onwards. The Panglong Agreement and the country’s original constitution, both dating from 1947, were supposed to grant autonomy and the right to secede after 10 years to some of Myanmar’s ethnic minorities.
But after the assassination of the country’s independence hero, General Aung San, that same year, the subsequent military leadership refused to enact these provisions. There have been periods of relative stability, but conflicts of one scale or another between the mainly ethnic armed groups and the majority ethnic Bamar-dominated central government have been ongoing ever since.
Part of the problem has been in finding a pillar around which the whole country can rally. The Tatmadaw would claim that mantle, which Ms Suu Kyi – General Aung San’s daughter – acknowledged in the 1988 speech that led her to become an icon of the Myanmar democracy movement. If they followed the objectives her father had set out, they should have “the honour and respect of the people”, she said, adding: “I feel strong attachment for the armed forces. Not only were they built up by my father, as a child I was cared for by his soldiers.”
This is why independent-minded democracy activists like my old friend Maung Zarni, founder of the Free Burma Coalition, were arguing 20 years ago that a solution to the country’s troubles had to involve talking to the generals. The Tatmadaw was simply too big and omnipresent an institution. And although it had led decades of repression in Myanmar, it also retained the status of having been its liberating force (along with the Allies) from the Japanese occupation in the Second World War.
There was a significant degree of scepticism about the military’s real willingness to share power, as I reported for this newspaper in 2011, but the “roadmap to democracy”, which led to elections in 2010 and the NLD coming to power in 2015 seemed to justify that position.
Today, however, not only is the country four years into a civil war which the Tatmadaw started, but they have continued air strikes even as rescue operations to save any victims still alive after the earthquake grow ever more desperate. The UN’s Special Rapporteur Tom Andrews described this as "nothing short of incredible". "I'm calling upon the junta to just stop, stop any of its military operations," he said.
Myanmar’s monarchy, which went back 800 years (some would argue 1,000), could have been a sufficiently overarching national institution. But the colonialist British overthrew the last king, Thibaw, in 1885, and exiled him to India. The Sangha, Myanmar’s Buddhist monks and nuns, have not been prominent in intervening since 2021, as they were in the so-called Saffron Revolution of 2007-08. But that involved non-violent protest and resistance, not fighting, while some well-known monks espouse a form of ethno-nationalist extremism that makes them feared, not revered, by the Christian and Muslim minorities who make up 10 per cent of the population.
The outside world has never known what to do about Myanmar; hence its many decades as a near-pariah military dictatorship. Nearby countries are strong proponents of the principle of non-interference, but equally they realise that there are limits, although the Association of South-East Asian Nations – to which Myanmar was admitted in 1997 with the expectation that this would encourage the military to reform – has not proved up to solving this key regional crisis either.
The state that Myanmar is in might once have caused well-meaning outsiders to consider sending in their own military force. But there is currently little appetite for such interventions, and understandably so. Its giant neighbours, China and India, maintain friendly relations with Myanmar, but both would be allergic to being drawn into what has the potential to be a far more deadly quagmire.
Back in 2011, I quoted Bertil Lintner, a veteran reporter who had just published his book Aung San Suu Kyi and Burma's Struggle for Democracy. The country’s future “looks bleak”, he concluded. It’s a statement that could have been made frequently during its post-independence history. Unless circumstances change radically, unfortunately that includes today.
RACE RESULTS
1. Valtteri Bottas (FIN/Mercedes) 1hr 21min 48.527sec
2. Sebastian Vettel (GER/Ferrari) at 0.658sec
3. Daniel Ricciardo (AUS/Red Bull) 6.012
4. Lewis Hamilton (GBR/Mercedes) 7.430
5. Kimi Räikkönen (FIN/Ferrari) 20.370
6. Romain Grosjean (FRA/Haas) 1:13.160
7. Sergio Pérez (MEX/Force India) 1 lap
8. Esteban Ocon (FRA/Force India) 1 lap
9. Felipe Massa (BRA/Williams) 1 lap
10. Lance Stroll (CAN/Williams) 1 lap
11. Jolyon Palmer (GBR/Renault) 1 lap
12. Stoffel Vandoorne (BEL/McLaren) 1 lap
13. Nico Hülkenberg (GER/Renault) 1 lap
14. Pascal Wehrlein (GER/Sauber) 1 lap
15. Marcus Ericsson (SWE/Sauber) 2 laps
16. Daniil Kvyat (RUS/Toro Rosso) 3 laps
UAE currency: the story behind the money in your pockets
ELIO
Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett
Directors: Madeline Sharafian, Domee Shi, Adrian Molina
Rating: 4/5
SPEC%20SHEET%3A%20NOTHING%20PHONE%20(2A)
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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
BEETLEJUICE BEETLEJUICE
Starring: Winona Ryder, Michael Keaton, Jenny Ortega
Director: Tim Burton
Rating: 3/5
GOODBYE%20JULIA
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EMohamed%20Kordofani%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3ESiran%20Riak%2C%20Eiman%20Yousif%2C%20Nazar%20Goma%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%205%2F5%3C%2Fp%3E%0A
WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
Kibsons%20Cares
%3Cp%3E%3Cstrong%3ERecycling%3Cbr%3E%3C%2Fstrong%3EAny%20time%20you%20receive%20a%20Kibsons%20order%2C%20you%20can%20return%20your%20cardboard%20box%20to%20the%20drivers.%20They%E2%80%99ll%20be%20happy%20to%20take%20it%20off%20your%20hands%20and%20ensure%20it%20gets%20reused%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EKind%20to%20health%20and%20planet%3C%2Fstrong%3E%3Cbr%3ESolar%20%E2%80%93%2025-50%25%20of%20electricity%20saved%3Cbr%3EWater%20%E2%80%93%2075%25%20of%20water%20reused%3Cbr%3EBiofuel%20%E2%80%93%20Kibsons%20fleet%20to%20get%2020%25%20more%20mileage%20per%20litre%20with%20biofuel%20additives%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ESustainable%20grocery%20shopping%3C%2Fstrong%3E%3Cbr%3ENo%20antibiotics%3Cbr%3ENo%20added%20hormones%3Cbr%3ENo%20GMO%3Cbr%3ENo%20preservatives%3Cbr%3EMSG%20free%3Cbr%3E100%25%20natural%3C%2Fp%3E%0A
PROFILE OF CURE.FIT
Started: July 2016
Founders: Mukesh Bansal and Ankit Nagori
Based: Bangalore, India
Sector: Health & wellness
Size: 500 employees
Investment: $250 million
Investors: Accel, Oaktree Capital (US); Chiratae Ventures, Epiq Capital, Innoven Capital, Kalaari Capital, Kotak Mahindra Bank, Piramal Group’s Anand Piramal, Pratithi Investment Trust, Ratan Tata (India); and Unilever Ventures (Unilever’s global venture capital arm)
What should do investors do now?
What does the S&P 500's new all-time high mean for the average investor?
Should I be euphoric?
No. It's fine to be pleased about hearty returns on your investments. But it's not a good idea to tie your emotions closely to the ups and downs of the stock market. You'll get tired fast. This market moment comes on the heels of last year's nosedive. And it's not the first or last time the stock market will make a dramatic move.
So what happened?
It's more about what happened last year. Many of the concerns that triggered that plunge towards the end of last have largely been quelled. The US and China are slowly moving toward a trade agreement. The Federal Reserve has indicated it likely will not raise rates at all in 2019 after seven recent increases. And those changes, along with some strong earnings reports and broader healthy economic indicators, have fueled some optimism in stock markets.
"The panic in the fourth quarter was based mostly on fears," says Brent Schutte, chief investment strategist for Northwestern Mutual Wealth Management Company. "The fundamentals have mostly held up, while the fears have gone away and the fears were based mostly on emotion."
Should I buy? Should I sell?
Maybe. It depends on what your long-term investment plan is. The best advice is usually the same no matter the day — determine your financial goals, make a plan to reach them and stick to it.
"I would encourage (investors) not to overreact to highs, just as I would encourage them not to overreact to the lows of December," Mr Schutte says.
All the same, there are some situations in which you should consider taking action. If you think you can't live through another low like last year, the time to get out is now. If the balance of assets in your portfolio is out of whack thanks to the rise of the stock market, make adjustments. And if you need your money in the next five to 10 years, it shouldn't be in stocks anyhow. But for most people, it's also a good time to just leave things be.
Resist the urge to abandon the diversification of your portfolio, Mr Schutte cautions. It may be tempting to shed other investments that aren't performing as well, such as some international stocks, but diversification is designed to help steady your performance over time.
Will the rally last?
No one knows for sure. But David Bailin, chief investment officer at Citi Private Bank, expects the US market could move up 5 per cent to 7 per cent more over the next nine to 12 months, provided the Fed doesn't raise rates and earnings growth exceeds current expectations. We are in a late cycle market, a period when US equities have historically done very well, but volatility also rises, he says.
"This phase can last six months to several years, but it's important clients remain invested and not try to prematurely position for a contraction of the market," Mr Bailin says. "Doing so would risk missing out on important portfolio returns."
Company profile
Name: Fruitful Day
Founders: Marie-Christine Luijckx, Lyla Dalal AlRawi, Lindsey Fournie
Based: Dubai, UAE
Founded: 2015
Number of employees: 30
Sector: F&B
Funding so far: Dh3 million
Future funding plans: None at present
Future markets: Saudi Arabia, potentially Kuwait and other GCC countries
RACE CARD
6.30pm: Handicap (TB) $68,000 (Dirt) 1,600m
7.05pm: Meydan Sprint – Group 2 (TB) $163,000 (Turf) 1,000m
7.40pm: Curlin Stakes – Listed Handicap (TB) $88,000 (D) 2,200m
8.15pm: UAE Oaks – Group 3 (TB) $125,000 (D) 1,900m
8.50pm: Zabeel Mile – Group 2 (TB) $163,000 (T) 1,600m
9.25pm: Balanchine – Group 2 (TB) $163,000 (T) 1,800m
10pm: Al Shindagha Sprint – Group 3 (TB) $130,000 (D) 1,200m
The five new places of worship
Church of South Indian Parish
St Andrew's Church Mussaffah branch
St Andrew's Church Al Ain branch
St John's Baptist Church, Ruwais
Church of the Virgin Mary and St Paul the Apostle, Ruwais
Terminator: Dark Fate
Director: Tim Miller
Starring: Arnold Schwarzenegger, Linda Hamilton, Mackenzie Davis
Rating: 3/5
Cricket World Cup League Two
Oman, UAE, Namibia
Al Amerat, Muscat
Results
Oman beat UAE by five wickets
UAE beat Namibia by eight runs
Fixtures
Wednesday January 8 –Oman v Namibia
Thursday January 9 – Oman v UAE
Saturday January 11 – UAE v Namibia
Sunday January 12 – Oman v Namibia
Honeymoonish
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Elie%20El%20Samaan%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3ENour%20Al%20Ghandour%2C%20Mahmoud%20Boushahri%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A
COPA DEL REY
Semi-final, first leg
Barcelona 1 (Malcom 57')
Real Madrid (Vazquez 6')
Second leg, February 27
The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
Abdul Jabar Qahraman was meeting supporters in his campaign office in the southern Afghan province of Helmand when a bomb hidden under a sofa exploded on Wednesday.
The blast in the provincial capital Lashkar Gah killed the Afghan election candidate and at least another three people, Interior Minister Wais Ahmad Barmak told reporters. Another three were wounded, while three suspects were detained, he said.
The Taliban – which controls much of Helmand and has vowed to disrupt the October 20 parliamentary elections – claimed responsibility for the attack.
Mr Qahraman was at least the 10th candidate killed so far during the campaign season, and the second from Lashkar Gah this month. Another candidate, Saleh Mohammad Asikzai, was among eight people killed in a suicide attack last week. Most of the slain candidates were murdered in targeted assassinations, including Avtar Singh Khalsa, the first Afghan Sikh to run for the lower house of the parliament.
The same week the Taliban warned candidates to withdraw from the elections. On Wednesday the group issued fresh warnings, calling on educational workers to stop schools from being used as polling centres.
DUNE%3A%20PART%20TWO
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A timeline of the Historical Dictionary of the Arabic Language
- 2018: Formal work begins
- November 2021: First 17 volumes launched
- November 2022: Additional 19 volumes released
- October 2023: Another 31 volumes released
- November 2024: All 127 volumes completed
What are the GCSE grade equivalents?
- Grade 9 = above an A*
- Grade 8 = between grades A* and A
- Grade 7 = grade A
- Grade 6 = just above a grade B
- Grade 5 = between grades B and C
- Grade 4 = grade C
- Grade 3 = between grades D and E
- Grade 2 = between grades E and F
- Grade 1 = between grades F and G
More from Armen Sarkissian
The specs
Engine: 2.0-litre 4-cyl turbo
Power: 201hp at 5,200rpm
Torque: 320Nm at 1,750-4,000rpm
Transmission: 6-speed auto
Fuel consumption: 8.7L/100km
Price: Dh133,900
On sale: now
UK-EU trade at a glance
EU fishing vessels guaranteed access to UK waters for 12 years
Co-operation on security initiatives and procurement of defence products
Youth experience scheme to work, study or volunteer in UK and EU countries
Smoother border management with use of e-gates
Cutting red tape on import and export of food