There is simply no credible way to believe that Israel is waging the current war against Iran all by itself, or that the US’s role is limited to striking three nuclear sites over the weekend.
The distance, the military imbalance and the geopolitical stakes make it clear: this war is being waged with deep western support, both militarily and through intelligence co-operation.
And the objective? It appears military is no longer limited to reining in the Iranian nuclear programme. It’s about reshaping the power dynamics within Iran itself.
However, western powers would be playing with fire if backing this war is without a strategy for what comes after, as it means empowering a generation of hardliners in Israel, with many already embedded in its far-right government.
It’s true that Iran’s defences, meticulously built since the end of the Iran-Iraq war in the 1980s, are being dismantled. Hezbollah no longer holds sway. The new Syrian government has shifted course. Iraqi militias have their hands tied. A glance at the map shows how exposed Iran now is, with its cities vulnerable, its buffer zones dismantled.
Losing Syria as an ally was a decisive blow. Smuggling routes were cut. Border bases with Israel were lost. Syrian air space opened to Israeli jets. Syria, in effect, became a Trojan horse in this war.
Now, western powers, especially in Europe, the UK and the US, see an opening to break Iran’s regional hegemony. The demand for Tehran to completely halt uranium enrichment is one of the clearest signs that key European countries, for example, are shifting their positions to align themselves with Israel’s escalating campaign.
But Israel’s war isn’t a war for peace. It appears to be a campaign of revenge, fuelled by the illusion that Iran can somehow be fully controlled once broken.
Figures such as Itamar Ben-Gvir and Bezalel Smotrich, two extremist ministers already sanctioned by European governments, are capitalising on this moment. If Iran falls, they won’t just claim that they have rewritten that country’s future; they will reshape Israeli politics for years to come.
The balance of power inside Israel could shift decisively to the far right, giving these ministers greater political weight, bigger parties and more control over policy.
The fallout would be catastrophic. The same Israeli government now accused of war crimes in Gaza and beyond would feel vindicated and unleashed. There would be no restraint. Their agenda of expansion, annexation and ultra-nationalism would surge forward, cloaked in the glow of their military successes.
This is one of the region’s greatest current risks: an emboldened, extremist-led Israeli state driving the Middle East into years – possibly decades – of instability.
For Prime Minister Benjamin Netanyahu, this war is personal. Despite having dominated Israeli politics for decades, he wants to erase his legacy of corruption, strategic failure and the October 7 catastrophe. He wants history to remember him not as the prime minister who failed to protect 1,200 Israelis from the Hamas-led attacks, but as the man who broke Iran.
His legacy today lies in Tehran.
Now the West must confront a sobering question: who is it really helping reshape the region? Because if Israel’s extremists are allowed to dictate what comes next, this will not be a short war. It will be a new order: chaotic, bloody and boundless.
There is a moral obligation for western governments backing this campaign to ensure that those they empower today cannot determine Israel’s course tomorrow. Many Arab states have already warned of the perilous line the West is walking. But history suggests western strategy in this region rarely looks beyond the next headline.
And if no one changes course, tomorrow could make today look like a warning shot by comparison.
Fixtures
Wednesday
4.15pm: Japan v Spain (Group A)
5.30pm: UAE v Italy (Group A)
6.45pm: Russia v Mexico (Group B)
8pm: Iran v Egypt (Group B)
Our legal consultants
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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.”
COMPANY%20PROFILE
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PSL FINAL
Multan Sultans v Peshawar Zalmi
8pm, Thursday
Zayed Cricket Stadium, Abu Dhabi
The specs: 2019 Cadillac XT4
Price, base: Dh145,000
Engine: 2.0-litre turbocharged in-line four-cylinder engine
Transmission: Nine-speed automatic
Power: 237hp @ 5,000rpm
Torque: 350Nm @ 1,500rpm
Fuel economy, combined: 8.7L / 100km
The Freedom Artist
By Ben Okri (Head of Zeus)
'The%20Alchemist's%20Euphoria'
%3Cp%3E%3Cstrong%3EArtist%3A%3C%2Fstrong%3E%20Kasabian%3Cbr%3E%3Cstrong%3ELabel%3A%20%3C%2Fstrong%3EColumbia%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A
Results:
Men's wheelchair 800m T34: 1. Walid Ktila (TUN) 1.44.79; 2. Mohammed Al Hammadi (UAE) 1.45.88; 3. Isaac Towers (GBR) 1.46.46.
Country-size land deals
US interest in purchasing territory is not as outlandish as it sounds. Here's a look at some big land transactions between nations:
Louisiana Purchase
If Donald Trump is one who aims to broker "a deal of the century", then this was the "deal of the 19th Century". In 1803, the US nearly doubled in size when it bought 2,140,000 square kilometres from France for $15 million.
Florida Purchase Treaty
The US courted Spain for Florida for years. Spain eventually realised its burden in holding on to the territory and in 1819 effectively ceded it to America in a wider border treaty.
Alaska purchase
America's spending spree continued in 1867 when it acquired 1,518,800 km2 of Alaskan land from Russia for $7.2m. Critics panned the government for buying "useless land".
The Philippines
At the end of the Spanish-American War, a provision in the 1898 Treaty of Paris saw Spain surrender the Philippines for a payment of $20 million.
US Virgin Islands
It's not like a US president has never reached a deal with Denmark before. In 1917 the US purchased the Danish West Indies for $25m and renamed them the US Virgin Islands.
Gwadar
The most recent sovereign land purchase was in 1958 when Pakistan bought the southwestern port of Gwadar from Oman for 5.5bn Pakistan rupees.
Afcon 2019
SEMI-FINALS
Senegal v Tunisia, 8pm
Algeria v Nigeria, 11pm
Matches are live on BeIN Sports
Dirham Stretcher tips for having a baby in the UAE
Selma Abdelhamid, the group's moderator, offers her guide to guide the cost of having a young family:
• Buy second hand stuff
They grow so fast. Don't get a second hand car seat though, unless you 100 per cent know it's not expired and hasn't been in an accident.
• Get a health card and vaccinate your child for free at government health centres
Ms Ma says she discovered this after spending thousands on vaccinations at private clinics.
• Join mum and baby coffee mornings provided by clinics, babysitting companies or nurseries.
Before joining baby classes ask for a free trial session. This way you will know if it's for you or not. You'll be surprised how great some classes are and how bad others are.
• Once baby is ready for solids, cook at home
Take the food with you in reusable pouches or jars. You'll save a fortune and you'll know exactly what you're feeding your child.
The specs
Engine: four-litre V6 and 3.5-litre V6 twin-turbo
Transmission: six-speed and 10-speed
Power: 271 and 409 horsepower
Torque: 385 and 650Nm
Price: from Dh229,900 to Dh355,000
The Vile
Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah
Director: Majid Al Ansari
Rating: 4/5