US President Joe Biden’s first official foreign trip has provided clear rules of the road for countries looking for how American foreign policy will operate over the next three years.
A number of countries in the Middle East, in particular, are wary of how Washington is going to play its role under Mr Biden.
Those countries that did not welcome the reversion to the status quo ante policies of former president Barack Obama are hoping they can still transact with the US. The countries that did welcome the change Mr Biden brought about remain unsure about the future. Is this a four-year interregnum before policies pursued by the previous Trump administration return? Or will the Biden administration's tilt to the Indo-Pacific mean that the US becomes a de facto marginal player in the region?
If the G7 meeting is anything to go by, the Biden team is laying down frameworks that will strongly influence the Middle East. Its reliance on global mechanisms, however, means that there is not much talk about the region in the policy rollout.
It was telling about America that Russian President Vladimir Putin did not even mention Syria, Iran or Libya at the news conference that followed his summit with Mr Biden in Geneva last week. Mr Biden did discuss Iran but not in any great specifics.
It is not from Geneva but from the G7 summit in the UK that we get a better sense of where the Middle East is headed with Team Biden.
The administration has brought forward many personnel from the Obama White House, but the US is likely to struggle to take up the reins where the old team left off.
The Middle East Peace Process, or the two-state solution between Palestine and Israel, stands formally as a priority. The events on the ground last month were a first test for the Biden administration. But many people in the region now do not see America's role as that of a mediator pushing and supporting the differing actors to come to the negotiating table.
This matters most whenever tensions erupt and open conflict breaks out, as happened in Gaza last month. As such, there is already a pattern of the US managing the situation but not transforming it.
The Belt and Road Initiative has been criticised as a plan to extend China’s influence. EPA
What have been called the region's forever wars – in Iraq, Syria and Yemen, to name but three – are likely to feel the brunt of some of the global policy approaches the Biden team has set out. So, too, is the constant and growing challenge from Iran.
The restoration of the JCPOA nuclear deal only sets a new baseline for the relationship. Once that rollout has been complete, much of the agenda between Washington and Tehran will be opened up.
The G7 backed Mr Biden's Build Back Better World (B3W) agenda. The architects of this policy framed it as a rival to China's Belt and Road Initiative. But the narrative put in that way misses the importance of B3W for the Middle East.
For instance, the drought ravaging Syria, Iraq, Jordan and other countries is crying out for green development policies. The Biden administration has great potential to engage with policymakers in these countries on that basis.
If a country such as Jordan has real help with resource efficiency and the development of a circular economy, led by the US and its partners, the incentives around Washington’s foreign policy will only grow.
This is also true in the case of Iraq, where aid can help fight problems such as biodiversity loss and increase constructing capacity to develop in areas such as green energy. If that country's economic system is made fairer, greener and more resilient in partnership with the US, another step away from integration with the failing Iranian model can be achieved.
Iraqi environmentalist Omar Al Sheikhly leads a team into the marshes in search of endangered animals, in Chibayish. Without quick action, Mr Al Sheikhly fears the delicate underwater ecology of the Unesco-protected site will be disrupted. AP Photo
A water buffalo walks on the remnants of an old military road built in the marshes by Saddam Hussein during the Iran-Iraq war, in Chibayish, Iraq. AP Photo
Water buffalos wade in the waters of the marshes after feeding on grass in Chibayish, Iraq. Conservationists issued a stark warning that without quick remedial action, the Unesco-protected site could wither away. AP Photo
A member of Iraq's marsh communities collects reeds, which are typically sold or used locally in Chibayish, Iraq. Conservationists fear the Unesco-protected site could wither away without timely action. AP Photo
Pied Kingfisher birds take flight from a marshland where the number of many bird species are on the decline, in Chibayish, Iraq. AP Photo
Pied Kingfisher birds rest on trees extending from the marshes in Chibayish, Iraq. AP Photo
A man collects reeds from the wetlands that will later be sold or used for domestic use, in Chibayish, Iraq. AP Photo
Fishermen unload the day's catch from the marshes on to vehicles in Chibayish, Iraq. AP Photo
The architects of B3W have framed it as a rival to BRI. But that narrative misses its importance for the Middle East
After all, Iran itself has few coherent policies in place to protect its land and rivers from natural ravages. Tehran, therefore, has nothing to offer Washington as a partner. Its vulnerabilities from climate change will only grow.
At a time when the EU is in tandem pushing a €1.8 trillion ($2.1tn) green growth plan, the region is looking at how it can be a supplier to this development. A pipeline for hydrogen going across from Saudi Arabia through Jordan, for example, will boost all sides.
One of the most significant Biden appointments is that of Samantha Power as the head of USAID, a development agency with a seat in the White House National Security Council. This is a strong signal for a push to use extra aid as part of the American strategy in Syria, and perhaps Yemen. Establishing the alleviation of human suffering where possible and de-escalation of the conflict should allow for basic stabilisation efforts to follow on.
The stalled UN-led diplomatic process in Syria desperately needs Russian support to move forward. US commitment of resources to Syria, including the freedom of humanitarian shipments, is likely to provide a strong signal to Moscow.
Russia wants to position itself as a leader of reconstruction in Syria, as well as preserve the gains from its intervention in the conflict. The provision of American resources will only have a mobilising effect on Russian readiness to engage. There is little or no room for Iran in this dynamic.
As Mr Biden remarked recently, countries invest in diplomacy in their own self-interest. Global policies can drive a real engagement with the Middle East.
Damien McElroy is the London bureau chief at The National
1. Lewis Hamilton, Mercedes - 263
2. Sebastian Vettel, Ferrari - 235
3. Valtteri Bottas, Mercedes - 212
4. Daniel Ricciardo, Red Bull - 162
5. Kimi Raikkonen, Ferrari - 138
6. Sergio Perez, Force India - 68
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Fourth Arab Economic and Social Development Summit
As he spoke, Mr Aboul Gheit repeatedly referred to the need to tackle issues affecting the welfare of people across the region both in terms of preventing conflict and in pushing development.
Lebanon is scheduled to host the fourth Arab Economic and Social Development Summit in January that will see regional leaders gather to tackle the challenges facing the Middle East. The last such summit was held in 2013. Assistant Secretary-General Hossam Zaki told The National that the Beirut Summit “will be an opportunity for Arab leaders to discuss solely economic and social issues, the conference will not focus on political concerns such as Palestine, Syria or Libya". He added that its slogan will be “the individual is at the heart of development”, adding that it will focus on all elements of human capital.
How to wear a kandura
Dos
Wear the right fabric for the right season and occasion
Always ask for the dress code if you don’t know
Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
Wear hamdania for work, always wear a ghutra and agal
Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
ANALYSTS’ TOP PICKS OF SAUDI BANKS IN 2019
Analyst: Aqib Mehboob of Saudi Fransi Capital
Top pick: National Commercial Bank
Reason: It will be at the forefront of project financing for government-led projects
Analyst: Shabbir Malik of EFG-Hermes
Top pick: Al Rajhi Bank
Reason: Defensive balance sheet, well positioned in retail segment and positively geared for rising rates
Analyst: Chiradeep Ghosh of Sico Bank
Top pick: Arab National Bank
Reason: Attractive valuation and good growth potential in terms of both balance sheet and dividends
More than 2.2 million Indian tourists arrived in UAE in 2023 More than 3.5 million Indians reside in UAE Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
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.”
Know your camel milk: Flavour: Similar to goat’s milk, although less pungent. Vaguely sweet with a subtle, salty aftertaste. Texture: Smooth and creamy, with a slightly thinner consistency than cow’s milk. Use it: In your morning coffee, to add flavour to homemade ice cream and milk-heavy desserts, smoothies, spiced camel-milk hot chocolate. Goes well with: chocolate and caramel, saffron, cardamom and cloves. Also works well with honey and dates.
1. Tadej Pogacar (SLO) UAE Team Emirates, in 3:20:24
2. Adam Yates (GBR) Ineos Grenadiers, at 1s
3. Pello Bilbao (ESP) Bahrain-Victorious, at 5s
General Classification
1. Tadej Pogacar (SLO) UAE Team Emirates, in 25:38:16
2. Adam Yates (GBR) Ineos Grenadiers, at 22s
3. Pello Bilbao (ESP) Bahrain-Victorious, at 48s
From exhibitions to the battlefield
In 2016, the Shaded Dome was awarded with the 'De Vernufteling' people's choice award, an annual prize by the Dutch Association of Consulting Engineers and the Royal Netherlands Society of Engineers for the most innovative project by a Dutch engineering firm.
It was assigned by the Dutch Ministry of Defence to modify the Shaded Dome to make it suitable for ballistic protection. Royal HaskoningDHV, one of the companies which designed the dome, is an independent international engineering and project management consultancy, leading the way in sustainable development and innovation.
It is driving positive change through innovation and technology, helping use resources more efficiently.
It aims to minimise the impact on the environment by leading by example in its projects in sustainable development and innovation, to become part of the solution to a more sustainable society now and into the future.
Key facilities
Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
Premier League-standard football pitch
400m Olympic running track
NBA-spec basketball court with auditorium
600-seat auditorium
Spaces for historical and cultural exploration
An elevated football field that doubles as a helipad
Specialist robotics and science laboratories
AR and VR-enabled learning centres
Disruption Lab and Research Centre for developing entrepreneurial skills
UK's plans to cut net migration
Under the UK government’s proposals, migrants will have to spend 10 years in the UK before being able to apply for citizenship.
Skilled worker visas will require a university degree, and there will be tighter restrictions on recruitment for jobs with skills shortages.
But what are described as "high-contributing" individuals such as doctors and nurses could be fast-tracked through the system.
Language requirements will be increased for all immigration routes to ensure a higher level of English.
Rules will also be laid out for adult dependants, meaning they will have to demonstrate a basic understanding of the language.
The plans also call for stricter tests for colleges and universities offering places to foreign students and a reduction in the time graduates can remain in the UK after their studies from two years to 18 months.
RESULT
Chelsea 2
Willian 13'
Ross Barkley 64'
Liverpool 0
Major honours
ARSENAL
FA Cup - 2005
BARCELONA
La Liga - 2013
Copa del Rey - 2012
Fifa Club World Cup - 2011
CHELSEA
Premier League - 2015, 2017
FA Cup - 2018
League Cup - 2015
SPAIN
World Cup - 2010
European Championship - 2008, 2012
The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
SERIE A FIXTURES
Saturday Spezia v Lazio (6pm), Juventus v Torino (9pm), Inter Milan v Bologna (7.45pm)
Sunday Verona v Cagliari (3.30pm), Parma v Benevento, AS Roma v Sassuolo, Udinese v Atalanta (all 6pm), Crotone v Napoli (9pm), Sampdoria v AC Milan (11.45pm)
Monday Fiorentina v Genoa (11.45pm)
Results
5pm Maiden (PA) Dh80,000 1,400m
Winner No Riesgo Al Maury, Szczepan Mazur (jockey), Ibrahim Al Hadhrami (trainer)
5.30pm Handicap (PA) Dh80,000 1,600m
Winner Marwa W’Rsan, Sam Hitchcott, Jaci Wickham.
6pm Handicap (PA) Dh80,000 1,600m
Winner Dahess D’Arabie, Al Moatasem Al Balushi, Helal Al Alawi.
6.30pm Handicap (PA) Dh80,000 2,200m
Winner Safin Al Reef, Connor Beasley, Abdallah Al Hammadi.
7pm Wathba Stallions Cup Handicap (PA) Dh70,000 2,200m
Winner Thulbaseera Al Jasra, Shakir Al Balushi, Ibrahim Al Hadhrami.
7.30pm Maiden (TB) Dh 80,000 2,200m
Winner Autumn Pride, Szczepan Mazur, Helal Al Alawi.
'Downton Abbey: A New Era'
Director: Simon Curtis
Cast: Hugh Bonneville, Elizabeth McGovern, Maggie Smith, Michelle Dockery, Laura Carmichael, Jim Carter and Phyllis Logan
Rating: 4/5
UAE currency: the story behind the money in your pockets
October 4: Round One of Rotax Max Challenge, Al Ain (karting)
October 1: 1 Round One of the inaugural UAE Desert Championship (rally)
November 1-3: Abu Dhabi Grand Prix (Formula One)
November 28-30: Dubai International Rally
January 9-11: 24Hrs of Dubai (Touring Cars / Endurance)
March 21: Round 11 of Rotax Max Challenge, Muscat, Oman (karting)
April 4-10: Abu Dhabi Desert Challenge (Endurance)
Key findings
Over a period of seven years, a team of scientists analysed dietary data from 50,000 North American adults.
Eating one or two meals a day was associated with a relative decrease in BMI, compared with three meals. Snacks count as a meal. Likewise, participants who ate more than three meals a day experienced an increase in BMI: the more meals a day, the greater the increase.
People who ate breakfast experienced a relative decrease in their BMI compared with “breakfast-skippers”.
Those who turned the eating day on its head to make breakfast the biggest meal of the day, did even better.
But scrapping dinner altogether gave the best results. The study found that the BMI of subjects who had a long overnight fast (of 18 hours or more) decreased when compared even with those who had a medium overnight fast, of between 12 and 17 hours.
What are NFTs?
Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.
You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”
However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.
This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”
This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.
