The two most important and effective regional organisations in the world are, I would argue, the EU and the Association of South-East Asian Nations (Asean). With populations of 450 million and 650 million respectively, taken en bloc they would be the globe's second and fifth largest economies. While far less wealthy, Asean has been the driving force behind much of the Asia-Pacific's security and now economic architecture, from the East Asia Summit – usually attended by top leaders from 18 countries, including China, Russia and the US – to the recently signed Regional Comprehensive Economic Partnership, the world's biggest trade agreement.
But it is always the EU that gets not only the attention, but also the plaudits. The default position appears to be that its very existence is a noble endeavour. The EU was even awarded the Nobel Peace Prize in 2012 for having “contributed to the advancement of peace and reconciliation, democracy and human rights in Europe”. The implication has been that Asean was a bit second-rate by comparison; if it ever wanted to be considered a really successful regional grouping, it should emulate the EU and follow its example.
Today, however, never has that view looked more wrong. For the EU – and in particular the unelected Commission that calls itself the “executive arm” of the union – has so spectacularly failed to meet the needs of its peoples, while simultaneously overreaching itself, that serious questions are being asked about its future – including whether it has one at all.
The decision (later cancelled) by Commission president Ursula von der Leyen to raise a hard border on the island of Ireland, supposedly to stop supplies of Covid-19 vaccines leaving the EU for the UK, was just the latest instance of this behaviour. It not only incensed the British government, but also that in Dublin – an EU member state the Commission president could not be bothered to consult over an issue crucial to the peace process on the island.
The former Belgian prime minister Guy Verhofstadt called this a “diplomatic disaster”, and went on to accuse Ms von der Leyen of woefully mishandling the EU’s vaccine procurement process and “prolonging drastically the Covid pandemic on mainland Europe”. “A fiasco I called it and a fiasco it is,” he said.
But Ms von der Leyen is just following in a long line of EU officials who have been happy to act heavy-handedly at home, within the union, while floundering to match their grand pretensions to be a geopolitical player on the world stage.
The Commission’s vice president, Frans Timmermans – also unelected – has threatened to take Hungary’s democratically elected government to court over a domestic education issue, and openly attacked Poland’s government over another internal matter (reforms to its judiciary).
These disasters would never befall Asean. Its Secretary General would never dare to meddle in the 10 member states' domestic matters
When the people of Greece voted conclusively against any more austerity in the 2015 election, the EU ignored the result and insisted on measures that would further impoverish ordinary Greeks before it would approve a bailout.
If internally the EU's problem is that it wields far too much power with next to no democratic mandate, its ambitions abroad are now an embarrassment. Earlier this month, the EU's High Representative for Foreign Affairs, Josep Borrell, made a trip to Moscow for "dialogue" on human rights and other matters. He was humiliated at a joint press conference with Russian foreign minister Sergey Lavrov, who dismissed the EU as an "unreliable partner" while leaving Mr Borrell to discover afterwards that Russia had expelled three EU diplomats during the time the two men were on stage. Concluded the Politico web magazine: "European foreign policy died in Moscow last week."
These are disasters that will never befall Asean. Its Secretary General would never dare to meddle in the 10 member states’ domestic matters, due to the cardinal principle of non-interference in each others’ affairs. It has left dealing with the pandemic to national health ministries, as several EU countries may now wish they had insisted on doing. Neither is Asean likely to try to take on much more of a foreign policy role than convener, in which it has been highly successful.
Asean will not overreach because, as the Malaysian academic Muthiah Alagappa wrote in a 2017 book marking the association’s 50th anniversary, it is “based on enhanced intergovernmental co-operation, not Europe-like supranationalism”. Constructing a “we” feeling is important, he continued, but Asean's fundamental basis is that “it is an association of sovereign member countries who desire to continue to be sovereign in most if not all matters.”
This is why Asean has been cautious in reacting to the coup in Myanmar. The statement issued by its current chair, Brunei, ended by saying: “we encourage the pursuance of dialogue, reconciliation and the return to normalcy in accordance with the will and interests of the people of Myanmar”. That, for Asean, was strongly worded, but expect no drastic action to follow.
If some deem this unsatisfactory, what this rests on is Asean’s recognition of the primacy of the nation state, and that building and maintaining one is a work never finished. The EU’s pursuit of “an ever closer union”, or the United States of Europe that Ms von der Leyen once said was her aim, seeks to make a country out of a continent – which is one reason it is stumbling so badly.
As Mr Alagappa wisely pointed out in “Asean Futureforward”: “Making legitimate nations and effective states may take centuries with no terminal point. Even after several decades and centuries, nation- and state-making may face challenges.”
It is true that Asean is sometimes criticised for doing too little, but its determination not to do too much is one reason for its longevity. Quietly, not asking for the limelight, Asean has established itself as a key interlocutor in the Asia Pacific and has contributed much to stability and rising prosperity in the region. There should be no “cultural cringe” towards a European institution that treats its member states with such arrogance. After all, which now – the EU or Asean – looks more likely to be around in 50 years’ time?
Sholto Byrnes is an East Asian affairs columnist for The National
NEW%20PRICING%20SCHEME%20FOR%20APPLE%20MUSIC%2C%20TV%2B%20AND%20ONE
%3Cp%3E%3Cstrong%3EApple%20Music%3Cbr%3EMonthly%20individual%3A%20%3C%2Fstrong%3E%2410.99%20(from%20%249.99)%3Cstrong%3E%3Cbr%3EMonthly%20family%3A%20%3C%2Fstrong%3E%2416.99%20(from%20%2414.99)%3Cstrong%3E%3Cbr%3EIndividual%20annual%3A%20%3C%2Fstrong%3E%24109%20(from%20%2499)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EApple%20TV%2B%3Cbr%3EMonthly%3A%20%3C%2Fstrong%3E%246.99%20(from%20%244.99)%3Cstrong%3E%3Cbr%3EAnnual%3A%20%3C%2Fstrong%3E%2469%20(from%20%2449.99)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EApple%20One%3Cbr%3EMonthly%20individual%3A%20%3C%2Fstrong%3E%2416.95%20(from%20%2414.95)%3Cstrong%3E%3Cbr%3EMonthly%20family%3A%20%3C%2Fstrong%3E%2422.95%20(from%20%2419.95)%3Cstrong%3E%3Cbr%3EMonthly%20premier%3A%20%3C%2Fstrong%3E%2432.95%20(from%20%2429.95)%3C%2Fp%3E%0A
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.”
Bio
Born in Dubai in 1994
Her father is a retired Emirati police officer and her mother is originally from Kuwait
She Graduated from the American University of Sharjah in 2015 and is currently working on her Masters in Communication from the University of Sharjah.
Her favourite film is Pacific Rim, directed by Guillermo del Toro
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
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
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
Zayed%20Centre%20for%20Research
%3Cp%3EThe%20Zayed%20Centre%20for%20Research%20is%20a%20partnership%20between%20Great%20Ormond%20Street%20Hospital%2C%20University%20College%20London%20and%20Great%20Ormond%20Street%20Hospital%20Children%E2%80%99s%20Charity%20and%20was%20made%20possible%20thanks%20to%20a%20generous%20%C2%A360%20million%20gift%20in%202014%20from%20Sheikha%20Fatima%20bint%20Mubarak%2C%20Chairwoman%20of%20the%20General%20Women's%20Union%2C%20President%20of%20the%20Supreme%20Council%20for%20Motherhood%20and%20Childhood%2C%20and%20Supreme%20Chairwoman%20of%20the%20Family%20Development%20Foundation.%3C%2Fp%3E%0A
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
The Details
Kabir Singh
Produced by: Cinestaan Studios, T-Series
Directed by: Sandeep Reddy Vanga
Starring: Shahid Kapoor, Kiara Advani, Suresh Oberoi, Soham Majumdar, Arjun Pahwa
Rating: 2.5/5
More on animal trafficking
More Expo 2020 Dubai pavilions: