Protesters take part in a demonstration against the military coup in Yangon. AFP
Protesters take part in a demonstration against the military coup in front of the Chinese embassy in Yangon. AFP
Protesters take part in a demonstration against the military coup in front of the Chinese embassy in Yangon. AFP
Police arrest a protester during a demonstration against the military coup in Mawlamyine in Mon State. AFP
Demonstrators dressed as characters from the Spanish television series 'La Casa de Papel' (Money Heist) flash the three-finger salute and hold placards during a protest against the military coup outside the Russian Embassy in Yangon, Myanmar. People continued to rally across the country despite orders banning mass gatherings and reports of increasing use of force by police against anti-coup protesters. Myanmar's military seized power and declared a state of emergency for one year after arresting State Counselor Aung San Suu Kyi and Myanmar president Win Myint in an early morning raid on 01 February. EPA
School teachers march holding placards during a protest against the military coup outside the Chinese Embassy in Yangon, Myanmar. EPA
Protesters take part in a demonstration against the military coup in Yangon. AFP
Protesters take part in a demonstration against the military coup in front of the Chinese embassy in Yangon. AFP
School teachers hold placards calling for the release of detained Myanmar State Counselor Aung San Suu Kyi (L) and President Win Myint (R) during a protest against the military coup outside the Chinese Embassy in Yangon, Myanmar. EPA
Protesters hold up an image of Aung San Suu Kyi and signs as they demonstrate against the military coup in Myeik, Tanintharyi region. AFP
Police arrest a protester during a demonstration against the military coup in Mawlamyine. AFP
Protesters hold up signs during a demonstration against the military coup in front of the Chinese embassy in Yangon. AFP
Much has been said and written about the global response to the unfolding crisis in Myanmar, where the long-dominant military staged a coup earlier this month. Experts have discussed the deep influence of neighbouring China, an important economic partner, and the likely impact of American sanctions on the strategic calculus of the South-East Asian nation's junta.
Others have focused on the sophisticated way the military brass orchestrated its coup against Aung San Suu Kyi's democratically elected government, with which it had shared power for half a decade.
Somewhat missing in the discussions, though, has been the role of Myanmar's influential neighbours and, more broadly, the Association of South-East Asian Nations (Asean), in legitimising the junta’s behind-the-scenes rule and atrocities in recent decades.
On the most fundamental level, the events in Myanmar have exposed Asean’s dysfunctional decision-making process. They have also laid bare the opportunism of key nations in the region.
Asean was born in the crucible of the Cold War, as the US and the Soviet Union jostled for influence in post-colonial South-East Asia. Its antecedents were the now-defunct, pro-US South-East Asia Treaty Organisation and the "non-aligned" Greater Malayan Confederation – better known as Maphilindo – which was composed of Malaysia, the Philippines and Indonesia. A decade into the Cold War, and just years into the so-called "Konfrontasi" skirmishes between Indonesia and the newly emerging Malaysian Federation from 1963 to 1966, the establishment of an inclusive regional organisation became a strategic imperative.
In a tale of strategic foresight and visionary leadership, five countries – Indonesia, Malaysia, the Philippines, Singapore and Thailand – established Asean in the late 1960s. Their goals included preserving national strategic autonomy, preventing intra-regional conflicts amid long-standing disputes and creating a semblance of peace and prosperity despite the proxy conflicts between the two superpowers.
The upshot is the establishment of arguably the most successful regional integration experiment outside of the West. Over the next half-century, Asean would evolve into an increasingly mature and all-inclusive organisation, having absorbed the region's communist and post-communist regimes following the Vietnam War.
Asean’s regional integration is impressive.
Years of sustained dialogue and a shared sense of destiny meant that its members became increasingly willing either to downplay or fully resolve their territorial disputes, from the Philippine-Malaysian conflict over oil-rich Sabah to the Indonesia-Malaysia maritime disputes over Pulau Ligitan and Pulau Sipadan. As Asean's de facto leader, Indonesia convinced Thailand and Cambodia to resolve their border dispute involving the area surrounding the Temple of Preah Vihear through international adjudication.
A signing ceremony at the first Asean meeting in Bangkok in August, 1967. AFP
Myanmar's then state counsellor Aung San Suu Kyi meets Vietnam's then president, the late Tran Dai Quang, at an Asean-linked summit in Hanoi in 2018. Reuters
The bloc, meanwhile, finalised a trade deal among its member states – called the Asean Free Trade Area Agreement – leading to reductions in tariffs to between zero and five per cent. Success encouraged the region to pursue fuller integration through an Asean Economic Community, which, when established, aims to create a single market and production base for the flow of goods, services, capital and labour in the region.
Asean proved so successful in fostering peace and prosperity in the region that by the 1990s, it aspired to become the engine of pan-regional integration across the Asia-Pacific. Through mechanisms such as the Asean Regional Forum, member states provided a key post-Cold War platform for institutionalised dialogue among major powers, namely the US, China, India, Japan and Russia.
In the recent past, however, the lack of internal coherence and global relevance has been exposed – and the Myanmar crisis is its most potent expression.
The twin principles that facilitated Asean's expansion through the decades are the mushawara and muafakat, two terms originating from Arabic and meaning consultation and consensus, respectively. Almost every one of the organisation's important geopolitical decisions was made after extensive consultation and painstaking consensus-building efforts.
On the surface, this seemed a perfectly reasonable way to foster co-operation and common understanding among extremely diverse nations, including impoverished post-communist states, authoritarian kingdoms, unruly middle-income democracies and a wealthy city-state. However, the principle of consensus-building quickly turned into unanimity-based decision-making in practice, setting the stage for institutional paralysis in times of crisis. An overemphasis on inclusiveness also meant its embracing of the region's more repressive regimes.
A candidate of Democracy Party for a New Society talks with microphone during an election campaign rally at downtown area in Yangon, Myanmar on Sunday. EPA
Ei Tinzar Maung speaks during a campaign ahead of the November 8 general election. AFP
An elderly man casts his ballot during early voting at a polling station in Yangon. EPA
Elderly people wait to cast their ballots during early voting at a polling station in Yangon. EPA
Myanmar President Win Myint greets members of the media after casting his ballot in Naypyitaw. EPA
Myanmar State Counselor Aung San Suu Kyi casts an advance vote in Naypyitaw. Reuters
Supporters of National League for Democracy (NLD) take part in a boat rally ahead of a November 8 general election in the Yangon river. Reuters
An NLD supporter holds a flag on the top of a boat as he takes part in a rally in the Yangon river. Reuters
NLD supporters party take part in a boat rally in the Yangon river. Reuters
NLD supporters greet to a boat rally. Reuters
NLD supporters take part in a boat rally in the Yangon river. Reuters
NLD supporters take part in a boat rally in the Yangon river. Reuters
An elderly man leaves after casting his ballot in Yangon. EPA
Election staff carry a mobile ballot box in Yangon last week, as advance voting in the country's election began for elderly people. AFP
Officers and volunteers from Union Election Commission walk to collect ballots from elderly people who make an early voting on the outskirts of Yangon. AP Photo
An election official is seen in a residence in Yangon last week, as advance voting in the country's elections began for elderly people. AFP
And so, when the Myanmar junta introduced largely cosmetic political reforms a decade ago, Asean was quick to hail them as a sign of democratisation – as did the Obama administration and much of the West. Myanmar even hosted a World Economic Forum meeting in 2013. Key members such as Singapore and Thailand poured billions of dollars into the country, even as the generals retained veto power over vital organs of the state, including the legislature.
When it became clear that the armed forces, known as Tatmadaw, engaged in atrocities against the Rohingya, Myanmar's largest Muslim minority group, Asean either turned a blind eye or refused to take a tough stance. Malaysia and Indonesia – both Muslim-majority countries – were the only member states to call for more decisive action against the Tatmadaw amid allegations of ethnic cleansing.
It was precisely Asean’s collective complacency, if not culpability, that emboldened the junta to launch its coup against Suu Kyi's popular civilian government on February 1. But even that wasn’t enough to mobilise a concerted pushback by the regional body. Only Malaysia, Indonesia and Singapore condemned the move.
The ICC is investigating atrocities allegedly committed by the Myanmar military against the Rohingya ethnic minority. AFP
A vast majority of Asean's member states were either silent days into the crisis or, as in the case of Cambodia and the Philippines, dismissed what has since become an international crisis as nothing but an "internal matter".
Thailand, one of Asean's founding members and a key source of investment and remittance for Myanmar, has been among the biggest enablers of the coup. Thai Prime Minister Prayuth Chan-ocha, a former general who himself seized power in his country through a military takeover in 2014, has emphasised the need for the two nations to "maintain good relations" with each other.
No wonder then that Myanmar's junta has formally sought the Thai leadership's assistance in managing the post-coup landscape, a reflection of co-ordination between these two regimes.
They say you can choose your friends but not your neighbours. But most of Asean's member states, particularly Thailand, chose to be friends with Myanmar’s generals even though it meant emboldening them to grab power and, thereby, overrule the overwhelming mandate of its people.
Richard Javad Heydarian is a professorial chairholder in geopolitics at Polytechnic University of the Philippines and author of, among others, 'The Indo-Pacific: Trump, China and the New Struggle for Global Mastery'
Manchester United 1 (Van de Beek 80') Crystal Palace 3 (Townsend 7', Zaha pen 74' & 85')
Man of the match Wilfried Zaha (Crystal Palace)
Russia's Muslim Heartlands
Dominic Rubin, Oxford
Sole survivors
Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
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.”
Lowest Test scores
26 - New Zealand v England at Auckland, March 1955
30 - South Africa v England at Port Elizabeth, Feb 1896
30 - South Africa v England at Birmingham, June 1924
35 - South Africa v England at Cape Town, April 1899
36 - South Africa v Australia at Melbourne, Feb. 1932
36 - Australia v England at Birmingham, May 1902
36 - India v Australia at Adelaide, Dec. 2020
38 - Ireland v England at Lord's, July 2019
42 - New Zealand v Australia in Wellington, March 1946
42 - Australia v England in Sydney, Feb. 1888
Avengers: Endgame
Directors: Anthony Russo, Joe Russo
Starring: Robert Downey Jr, Chris Evans, Scarlett Johansson, Chris Hemsworth, Josh Brolin
SMEs in the UAE are defined by the number of employees, annual turnover and sector. For example, a “small company” in the services industry has six to 50 employees with a turnover of more than Dh2 million up to Dh20m, while in the manufacturing industry the requirements are 10 to 100 employees with a turnover of more than Dh3m up to Dh50m, according to Dubai SME, an agency of the Department of Economic Development.
A “medium-sized company” can either have staff of 51 to 200 employees or 101 to 250 employees, and a turnover less than or equal to Dh200m or Dh250m, again depending on whether the business is in the trading, manufacturing or services sectors.
Saturday
Roma v Udinese (5pm)
SPAL v Napoli (8pm)
Juventus v Torino (10.45pm)
Sunday
Sampdoria v AC Milan (2.30pm)
Inter Milan v Genoa (5pm)
Crotone v Benevento (5pm)
Verona v Lazio (5pm)
Cagliari v Chievo (5pm)
Sassuolo v Bologna (8pm)
Fiorentina v Atalanta (10.45pm)
Herc's Adventures
Developer: Big Ape Productions Publisher: LucasArts Console: PlayStation 1 & 5, Sega Saturn Rating: 4/5
Other acts on the Jazz Garden bill
Sharrie Williams
The American singer is hugely respected in blues circles due to her passionate vocals and songwriting. Born and raised in Michigan, Williams began recording and touring as a teenage gospel singer. Her career took off with the blues band The Wiseguys. Such was the acclaim of their live shows that they toured throughout Europe and in Africa. As a solo artist, Williams has also collaborated with the likes of the late Dizzy Gillespie, Van Morrison and Mavis Staples. Lin Rountree
An accomplished smooth jazz artist who blends his chilled approach with R‘n’B. Trained at the Duke Ellington School of the Arts in Washington, DC, Rountree formed his own band in 2004. He has also recorded with the likes of Kem, Dwele and Conya Doss. He comes to Dubai on the back of his new single Pass The Groove, from his forthcoming 2018 album Stronger Still, which may follow his five previous solo albums in cracking the top 10 of the US jazz charts. Anita Williams
Dubai-based singer Anita Williams will open the night with a set of covers and swing, jazz and blues standards that made her an in-demand singer across the emirate. The Irish singer has been performing in Dubai since 2008 at venues such as MusicHall and Voda Bar. Her Jazz Garden appearance is career highlight as she will use the event to perform the original song Big Blue Eyes, the single from her debut solo album, due for release soon.
Profile
Name: Carzaty
Founders: Marwan Chaar and Hassan Jaffar
Launched: 2017
Employees: 22
Based: Dubai and Muscat
Sector: Automobile retail
Funding to date: $5.5 million
Profile box
Founders: Michele Ferrario, Nino Ulsamer and Freddy Lim Started: established in 2016 and launched in July 2017 Based: Singapore, with offices in the UAE, Malaysia, Hong Kong, Thailand Sector: FinTech, wealth management Initial investment: $500,000 in seed round 1 in 2016; $2.2m in seed round 2 in 2017; $5m in series A round in 2018; $12m in series B round in 2019; $16m in series C round in 2020 and $25m in series D round in 2021 Current staff: more than 160 employees Stage: series D Investors: EightRoads Ventures, Square Peg Capital, Sequoia Capital India