Amid much political and moral duplicity, the overlap between a new US foreign policy bid and resentment over President Donald Trump’s attitudes has brought the issue of Yemen to Congress this week, where momentum could favour an end to the war. All the warring parties are exhausted and there is an international readiness – from the US, the UN, the Europeans, the Russians and the Gulf states – to make serious efforts towards halting the tragedy unfolding in the impoverished nation
US Secretary of State Mike Pompeo was right to characterise the enthusiasm of some Congress members on Yemen as hypocritical and exploitative, meant to serve narrow interests of undermining Mr Trump and using the Yemen war as part of Congress and the media’s anti-Saudi campaign. Unravelling the strategic relationship between the US and Saudi Arabia does not serve American interests – particularly since Russia, China, and other European and Asian nations are ready to fill any strategic, economic, or political vacuum created by Washington.
There are two main and contradictory views regarding the Yemeni issue, and the ways to end the war. One insists on an immediate cessation of military operations and a move to negotiations, after the port of Hodeidah is handed over to the UN. The other insists on achieving victory for the Arab coalition in Hodeidah, leading to serious negotiations being imposed on the Houthis and therefore a rapid end to the war in Yemen.
Yet most agree on continuing to support the mission of UN envoy Martin Griffiths, a Briton who enjoys unanimous UN backing and US support. Most sides agree on the need to put pressure on both sides – the legitimate government represented by President Abdrabu Mansur Hadi and the Houthi insurgents; and pressure on Iran to end its support for the Houthis. Moreover, all sides agree on the principle of "no victor, no vanquished" as the preferable outcome of the conflict.
Here, Europe can play a role rather than lament lost opportunities to influence events, as has happened in Syria. Indeed, during a session of the Berlin Foreign Policy Forum – Körber-Stiftung this week, it was remarkable how much the Europeans appeared to feel their loss of global influence. Europe feels that its legitimacy is in decline, that its role is both marginalised and marginal, and that it is absent from international issues and regional conflicts, leaving fateful matters – such as the question of refugees – in the hands of the likes of Turkey’s Recep Tayyip Erdogan and Russia’s Vladimir Putin. Preoccupied by its own internal divisions, Europe has become a continent without sway.
But this does not devalue the importance of Sweden’s move to host the Yemen peace conference next week, which has received the backing of both Saudi Arabia and the UAE, on condition that the Houthi side proves it is serious and commits to negotiations. Nor does it negate the signs of remarkable changes in the positions of some European countries, especially Germany, vis-a-vis Iran and Saudi Arabia.
Dr Philipp Ackermann, the German Foreign Office's director for relations with the Middle East and North Africa, spoke candidly at the Berlin Forum, saying Saudi Arabia was a crucial presence, without which “nothing in the region can be achieved” and stressing the importance of the modernisation taking place in the kingdom today. Ackermann spoke firmly about Iran, describing its economy as “imbalanced” – and not just on account of US sanctions – and calling on Iran to play a constructive role instead of making the kind of remarks that President Hassan Rouhani has been issuing about Israel.
Regarding Iran's regional roles, Ackermann said that the nation's influence in Syria is complex, but that in Lebanon it is explicit, currently taking the form of Hezbollah's disruption of the government formation process. Ackermann added that he wished Iran to exert pressure on Hezbollah in a constructive manner. The German official spoke about the ongoing dialogue between Iran and European countries about Yemen, saying that Tehran can play a constructive role with the Houthis, but admitting that its leverage with them may be exaggerated. Finally, he noted the UAE's positive role in paving the way for the talks in Sweden, saying that the Houthis were causing the biggest problem, not Mr Hadi.
This tone is new in German political discourse on the region, bearing in mind that it has traditionally avoided criticism of Iran. Furthermore, the reiteration of Saudi Arabia’s importance as a key player comes in the midst of a major anti-Saudi campaign in Congress and the US media, and at a time when Russia is realigning itself closer to Saudi Arabia and other Arab nations, despite its continued relationship with Iran, especially in Syria.
What Saudi Arabia wants most in Yemen today is not to have a failed state on its border. No one wants for this war to continue, not Saudi Arabia, the UAE, or other members of the Arab coalition. Today, there is a greater opportunity than at any time in the past to end the war, with concessions from all sides. It is crucial for the members of the Arab coalition, especially Saudi Arabia, to rapidly lead the reconstruction of Yemen’s human and physical infrastructure.
The G20 Summit – which this year convened in Argentina – will be held in Saudi Arabia in 2020. This presents another opportunity that Riyadh must seize to end war, rectify mistakes, and reform policy. This group is comprised of the world’s top 20 economies, led by the US, China, Russia, the UK, France, Japan, and Germany. Saudi Arabia is the only Arab nation in this club. The kingdom is under a lot of scrutiny and many sides are watching for any misstep from now on. Riyadh must therefore show wisdom and boldness, in order to be ready for this event.
The G20 summit is an occasion for leaders to meet spontaneously or to hold bilateral meetings on the sidelines of the official gathering. Each leader brings their own priorities and agenda, with many hoping to get an audience with the US president.
Mr Trump came to Buenos Aires intending to meet with Mr Putin, but changed his mind on Air Force One, not because of Ukraine or any other crisis but because of the ongoing Mueller investigation over alleged collusion with Russia during the 2016 elections. On Thursday, Mr Trump had been dealt another blow when his former lawyer Michael Cohen pleaded guilty to lying to Congress about their discussions of a Moscow-based real estate deal during the 2016 presidential campaign, and arrived in a visibly hostile mood.
No one knows for sure how Mr Trump will be affected by the recent developments, which include the results of the midterm elections, the votes in Congress on Yemen and Saudi Arabia, and the investigation’s progress. Some are betting on him remaining in office and even being elected for another term, while others expect him to be relentlessly punished by the Democrats in Congress and others in the US media.
American policy must not institutionalise vendettas against the president or his allies, because this does not serve its national interest. At the same time, other nations must not bet their future on the president’s mood or the predilections of Congress and the US media.
Company%20Profile
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The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
UAE currency: the story behind the money in your pockets
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.”
MATCH INFO
Group B
Bayern Munich v Tottenham, midnight (Thursday)
THE BIO
Age: 33
Favourite quote: “If you’re going through hell, keep going” Winston Churchill
Favourite breed of dog: All of them. I can’t possibly pick a favourite.
Favourite place in the UAE: The Stray Dogs Centre in Umm Al Quwain. It sounds predictable, but it honestly is my favourite place to spend time. Surrounded by hundreds of dogs that love you - what could possibly be better than that?
Favourite colour: All the colours that dogs come in
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
Dubai World Cup prize money
Group 1 (Purebred Arabian) 2000m Dubai Kahayla Classic - $750,000
Group 2 1,600m(Dirt) Godolphin Mile - $750,000
Group 2 3,200m (Turf) Dubai Gold Cup – $750,000
Group 1 1,200m (Turf) Al Quoz Sprint – $1,000,000
Group 2 1,900m(Dirt) UAE Derby – $750,000
Group 1 1,200m (Dirt) Dubai Golden Shaheen – $1,500,000
Group 1 1,800m (Turf) Dubai Turf – $4,000,000
Group 1 2,410m (Turf) Dubai Sheema Classic – $5,000,000
Group 1 2,000m (Dirt) Dubai World Cup– $12,000,000
In numbers: China in Dubai
The number of Chinese people living in Dubai: An estimated 200,000
Number of Chinese people in International City: Almost 50,000
Daily visitors to Dragon Mart in 2018/19: 120,000
Daily visitors to Dragon Mart in 2010: 20,000
Percentage increase in visitors in eight years: 500 per cent
Killing of Qassem Suleimani
BEETLEJUICE BEETLEJUICE
Starring: Winona Ryder, Michael Keaton, Jenny Ortega
Director: Tim Burton
Rating: 3/5
Normcore explained
Something of a fashion anomaly, normcore is essentially a celebration of the unremarkable. The term was first popularised by an article in New York magazine in 2014 and has been dubbed “ugly”, “bland’ and "anti-style" by fashion writers. It’s hallmarks are comfort, a lack of pretentiousness and neutrality – it is a trend for those who would rather not stand out from the crowd. For the most part, the style is unisex, favouring loose silhouettes, thrift-shop threads, baseball caps and boyish trainers. It is important to note that normcore is not synonymous with cheapness or low quality; there are high-fashion brands, including Parisian label Vetements, that specialise in this style. Embraced by fashion-forward street-style stars around the globe, it’s uptake in the UAE has been relatively slow.
The 12 Syrian entities delisted by UK
Ministry of Interior
Ministry of Defence
General Intelligence Directorate
Air Force Intelligence Agency
Political Security Directorate
Syrian National Security Bureau
Military Intelligence Directorate
Army Supply Bureau
General Organisation of Radio and TV
Al Watan newspaper
Cham Press TV
Sama TV
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
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
Seemar’s top six for the Dubai World Cup Carnival:
1. Reynaldothewizard
2. North America
3. Raven’s Corner
4. Hawkesbury
5. New Maharajah
6. Secret Ambition
How much sugar is in chocolate Easter eggs?
- The 169g Crunchie egg has 15.9g of sugar per 25g serving, working out at around 107g of sugar per egg
- The 190g Maltesers Teasers egg contains 58g of sugar per 100g for the egg and 19.6g of sugar in each of the two Teasers bars that come with it
- The 188g Smarties egg has 113g of sugar per egg and 22.8g in the tube of Smarties it contains
- The Milky Bar white chocolate Egg Hunt Pack contains eight eggs at 7.7g of sugar per egg
- The Cadbury Creme Egg contains 26g of sugar per 40g egg
Drishyam 2
Directed by: Jeethu Joseph
Starring: Mohanlal, Meena, Ansiba, Murali Gopy
Rating: 4 stars
The specs: 2018 Harley-Davidson Fat Boy
Price, base / as tested Dh97,600
Engine 1,745cc Milwaukee-Eight v-twin engine
Transmission Six-speed gearbox
Power 78hp @ 5,250rpm
Torque 145Nm @ 3,000rpm
Fuel economy, combined 5.0L / 100km (estimate)
'Top Gun: Maverick'
Rating: 4/5
Directed by: Joseph Kosinski
Starring: Tom Cruise, Val Kilmer, Jennifer Connelly, Jon Hamm, Miles Teller, Glen Powell, Ed Harris
Asia Cup Qualifier
Final
UAE v Hong Kong
TV:
Live on OSN Cricket HD. Coverage starts at 5.30am
The biog
Favourite Quote: “Real victories are those that protect human life, not those that result from its destruction emerge from its ashes,” by The late king Hussain of Jordan.
Favourite Hobby: Writing and cooking
Favourite Book: The Prophet by Gibran Khalil Gibran
Founders: Abdulmajeed Alsukhan, Turki Bin Zarah and Abdulmohsen Albabtain.
Based: Riyadh
Offices: UAE, Vietnam and Germany
Founded: September, 2020
Number of employees: 70
Sector: FinTech, online payment solutions
Funding to date: $116m in two funding rounds
Investors: Checkout.com, Impact46, Vision Ventures, Wealth Well, Seedra, Khwarizmi, Hala Ventures, Nama Ventures and family offices
Racecard
2pm Handicap Dh 90,000 1,800m
2.30pm Handicap Dh120,000 1,950m
3pm Handicap Dh105,000 1,600m
3.30pm Jebel Ali Classic Conditions Dh300,000 1,400m
4pm Maiden Dh75,000 1,600m
4.30pm Conditions Dh250,000 1,400m
5pm Maiden Dh75,000 1,600m
5.30pm Handicap Dh85,000 1,000m
The National selections:
2pm Arch Gold
2.30pm Conclusion
3pm Al Battar
3.30pm Golden Jaguar
4pm Al Motayar
4.30pm Tapi Sioux
5pm Leadership
5.30pm Dahawi
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
Day 1, Dubai Test: At a glance
Moment of the day Sadeera Samarawickrama set pulses racing with his strokeplay on his introduction to Test cricket. It reached a feverish peak when he stepped down the wicket and launched Yasir Shah, who many regard as the world’s leading spinner, back over his head for six. No matter that he was out soon after: it felt as though the future had arrived.
Stat of the day - 5 The last time Sri Lanka played a Test in Dubai – they won here in 2013 – they had four players in their XI who were known as wicketkeepers. This time they have gone one better. Each of Dinesh Chandimal, Kaushal Silva, Samarawickrama, Kusal Mendis, and Niroshan Dickwella – the nominated gloveman here – can keep wicket.
The verdict Sri Lanka want to make history by becoming the first team to beat Pakistan in a full Test series in the UAE. They could not have made a better start, first by winning the toss, then by scoring freely on an easy-paced pitch. The fact Yasir Shah found some turn on Day 1, too, will have interested their own spin bowlers.
Picture of Joumblatt and Hariri breaking bread sets Twitter alight
Mr Joumblatt’s pessimism regarding the Lebanese political situation didn’t stop him from enjoying a cheerful dinner on Tuesday with several politicians including Mr Hariri.
Caretaker Culture Minister Ghattas Khoury tweeted a picture of the group sitting around a table at a discrete fish restaurant in Beirut’s upscale Sodeco area.
Mr Joumblatt told The National that the fish served at Kelly’s Fish lounge had been very good.
“They really enjoyed their time”, remembers the restaurant owner. “Mr Hariri was taking selfies with everybody”.
Mr Hariri and Mr Joumblatt often have dinner together to discuss recent political developments.
Mr Joumblatt was a close ally of Mr Hariri’s assassinated father, former prime minister Rafik Hariri. The pair were leading figures in the political grouping against the 15-year Syrian occupation of Lebanon that ended after mass protests in 2005 in the wake of Rafik Hariri’s murder. After the younger Hariri took over his father’s mantle in 2004, the relationship with Mr Joumblatt endured.
However, the pair have not always been so close. In the run-up to the election last year, Messrs Hariri and Joumblatt went months without speaking over an argument regarding the new proportional electoral law to be used for the first time. Mr Joumblatt worried that a proportional system, which Mr Hariri backed, would see the influence of his small sect diminished.
With so much of Lebanese politics agreed in late-night meetings behind closed doors, the media and pundits put significant weight on how regularly, where and with who senior politicians meet.
In the picture, alongside Messrs Khoury and Hariri were Mr Joumbatt and his wife Nora, PSP politician Wael Abou Faour and Egyptian ambassador to Lebanon Nazih el Nagari.
The picture of the dinner led to a flurry of excitement on Twitter that it signified an imminent government formation. “God willing, white smoke will rise soon and Walid Beik [a nickname for Walid Joumblatt] will accept to give up the minister of industry”, one user replied to the tweet. “Blessings to you…We would like you to form a cabinet”, wrote another.
The next few days will be crucial in determining whether these wishes come true.
If you go
The flights Etihad (www.etihad.com) and Spice Jet (www.spicejet.com) fly direct from Abu Dhabi and Dubai to Pune respectively from Dh1,000 return including taxes. Pune airport is 90 minutes away by road.
The hotels A stay at Atmantan Wellness Resort (www.atmantan.com) costs from Rs24,000 (Dh1,235) per night, including taxes, consultations, meals and a treatment package.
From Zero
Artist: Linkin Park
Label: Warner Records
Number of tracks: 11
Rating: 4/5