It is early days yet, but there seems to be determination on the part of Saudi Arabia and Iran to tackle contentious issues between them in a bilateral manner. Both countries' desire for continued engagement, after the initial talks were hosted by Iraq – as confirmed by President Barham Salih – suggests that de-escalation of tensions and confidence-building measures could be the way forward.
Saudi Arabia and Syria are reportedly talking to each other, too. And although their outreach is independent of the Saudi-Iranian talks, it is natural that one could influence the other. Russia is supposedly playing a role in the Syria talks as Moscow seeks that country's restoration to the Arab League. This is in order for Damascus to attract Arab and international financing for the post-war reconstruction of Syria, while ensuring that Russian interests in the country are maintained.
Another sign that the countries of the Middle East are trying to resolve their differences and conflicts is the gradual improvement in relations between Egypt and Turkey.
Of course, it is too early to say if the region is starting a new chapter in its history. It is also naive for us to believe that the global powers are not involved in these developments. But it isn’t wrong to suggest that a reduced trust in and among some of these powers – notably the US, China and Russia – has contributed to regional players seeking rapprochement with one another.
The Saudi-Iranian talks, in particular, seem to have been triggered by a shared conviction that the US is difficult to rely on.
For the Saudis, the previous Trump administration’s support proved inadequate when its Aramco facility came under attack from the Iranian-backed Houthi rebels in neighbouring Yemen. Then, the current Biden administration failed to draw any of the Gulf states into future nuclear talks with Iran, as Washington insisted on separating the issue of Tehran’s nuclear weapons programme from that of its ballistic missiles programme and expansionist behaviour inside weaker Arab countries.
From the Iranian standpoint, trust in the US eroded considerably after former president Donald Trump withdrew his country from the nuclear deal, originally signed in 2015. America’s commitment to any deal it signs in the future is now being questioned and Tehran fears the JCPOA – as it is called – could be repealed again by a future administration, despite President Joe Biden’s stated intention to rejoin it.
Yet none of this means that the differences between the Kingdom and Islamic Republic are not vast. US presence in the region is a contentious issue for Tehran – as much as the Iranian regime’s ideology and proxy wars in the region are for the Arab states. This explains why these talks are supposedly taking place primarily through security channels.
The ongoing civil war in Yemen is the most pressing issue, as that country shares a long border with Saudi Arabia and has a strong presence of Iranian-backed proxy forces threatening Riyadh’s security. The talks are also focusing on bilateral relations, the nuclear deal and the future of Iraq.
Iraqi President Barham Salih called for an international anti-corruption coalition to help track and return funds. AP
The Saudi-Iranian talks seem to have been triggered by a shared conviction that the US is difficult to rely on
There seems to be an understanding between the two countries that Iraq and its security should be immunised from regional differences and that the country should be supported in order for it to play a positive role in the region. That is a positive step.
In a recent conversation, President Salih told me that Iraqi sovereignty is indeed an issue. His vision is for Iraq to become “a sovereign, stable, prosperous country that is a bridge between the various actors in this neighbourhood”, he added. “Iraq should decide the Iraqi issues, Iraqi sovereign issues like the military presence of any foreign country. [This] should be decided by the Iraqi government, by the Commander-in-Chief based on the requirements of Iraq.”
While reiterating that “both the Iraqi side and the United States do not want to see permanent presence of American troops here in Iraq”, Mr Salih also stressed on the importance of maintaining cordial relations with Iran, which is insecure of American security presence in the country. “We seek good relations with Iran. Iran is a vital and important neighbour of ours,” he said, pointing to Iranian support for its fight against ISIS in previous years.
Iraq is not the only country struggling to maintain its independence from Iran. The future of Lebanon is in question, too, with Hezbollah being a particular source of contention. Saudi Arabia has designated Hezbollah as a terror group and sees its role as subversive not only in Lebanon but in Syria and Yemen as well. But the group is integral to Iran’s proxy wars. This possibly explains why Lebanon's future has not been given as much priority by either country in their recent talks.
In truth, Lebanon has inflicted its own isolation upon itself, excluding itself from inter-Arab or Arab-Iranian negotiations in the process. In Iran’s view, Lebanon is just an annex, and in the Arab view, it is perhaps a hopeless case.
Its future, however, can be tied in with that of Syria, at least to some extent. If the Assad regime does manage to return to the Arab League, it should be facilitated in exchange for its respect for Lebanon’s sovereignty. It should refrain from using the border between the two countries to smuggle and loot at the expense of innocent Lebanese. Syria must pledge not to seek to restore its dominance over it.
All in all, it is remarkable that key Arab states are moving forward to shape their own destinies, and to seek the play a mediating role, whether it is with Iran or with Turkey. Time will tell if they succeed.
Raghida Dergham is the founder and executive chairwoman of the Beirut Institute and a columnist for The National
The flights: Flydubai flies from Dubai to Kilimanjaro airport via Dar es Salaam from Dh1,619 return including taxes. The trip takes 8 hours.
The trek: Make sure that whatever tour company you select to climb Kilimanjaro, that it is a reputable one. The way to climb successfully would be with experienced guides and porters, from a company committed to quality, safety and an ethical approach to the mountain and its staff. Sonia Nazareth booked a VIP package through Safari Africa. The tour works out to $4,775 (Dh17,538) per person, based on a 4-person booking scheme, for 9 nights on the mountain (including one night before and after the trek at Arusha). The price includes all meals, a head guide, an assistant guide for every 2 trekkers, porters to carry the luggage, a cook and kitchen staff, a dining and mess tent, a sleeping tent set up for 2 persons, a chemical toilet and park entrance fees. The tiny ration of heated water provided for our bath in our makeshift private bathroom stall was the greatest luxury. A standard package, also based on a 4-person booking, works out to $3,050 (Dh11,202) per person.
When to go: You can climb Kili at any time of year, but the best months to ascend are January-February and September-October. Also good are July and August, if you’re tolerant of the colder weather that winter brings.
Do not underestimate the importance of kit. Even if you’re travelling at a relatively pleasant time, be geared up for the cold and the rain.
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
Our family matters legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
How Islam's view of posthumous transplant surgery changed
Transplants from the deceased have been carried out in hospitals across the globe for decades, but in some countries in the Middle East, including the UAE, the practise was banned until relatively recently.
Opinion has been divided as to whether organ donations from a deceased person is permissible in Islam.
The body is viewed as sacred, during and after death, thus prohibiting cremation and tattoos.
One school of thought viewed the removal of organs after death as equally impermissible.
That view has largely changed, and among scholars and indeed many in society, to be seen as permissible to save another life.
OIL PLEDGE
At the start of Russia's invasion, IEA member countries held 1.5 billion barrels in public reserves and about 575 million barrels under obligations with industry, according to the agency's website. The two collective actions of the IEA this year of 62.7 million barrels, which was agreed on March 1, and this week's 120 million barrels amount to 9 per cent of total emergency reserves, it added.
If you go
The flights
There are various ways of getting to the southern Serengeti in Tanzania from the UAE. The exact route and airstrip depends on your overall trip itinerary and which camp you’re staying at. Flydubai flies direct from Dubai to Kilimanjaro International Airport from Dh1,350 return, including taxes; this can be followed by a short flight from Kilimanjaro to the Serengeti withCoastal Aviation from about US$700 (Dh2,500) return, including taxes. Kenya Airways, Emirates and Etihad offer flights via Nairobi or Dar es Salaam.
History's medical milestones
1799 - First small pox vaccine administered
1846 - First public demonstration of anaesthesia in surgery
1861 - Louis Pasteur published his germ theory which proved that bacteria caused diseases
1895 - Discovery of x-rays
1923 - Heart valve surgery performed successfully for first time
1928 - Alexander Fleming discovers penicillin
1953 - Structure of DNA discovered
1952 - First organ transplant - a kidney - takes place
1954 - Clinical trials of birth control pill
1979 - MRI, or magnetic resonance imaging, scanned used to diagnose illness and injury.
1998 - The first adult live-donor liver transplant is carried out
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.”
- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany - At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people - Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed - Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest - He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
Have you been targeted?
Tuan Phan of SimplyFI.org lists five signs you have been mis-sold to:
1. Your pension fund has been placed inside an offshore insurance wrapper with a hefty upfront commission.
2. The money has been transferred into a structured note. These products have high upfront, recurring commission and should never be in a pension account.
3. You have also been sold investment funds with an upfront initial charge of around 5 per cent. ETFs, for example, have no upfront charges.
4. The adviser charges a 1 per cent charge for managing your assets. They are being paid for doing nothing. They have already claimed massive amounts in hidden upfront commission.
5. Total annual management cost for your pension account is 2 per cent or more, including platform, underlying fund and advice charges.
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)
Founded in 1985 by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, the Central Veterinary Research Laboratory (CVRL) is a government diagnostic centre that provides testing and research facilities to the UAE and neighbouring countries.
One of its main goals is to provide permanent treatment solutions for veterinary related diseases.
The taxidermy centre was established 12 years ago and is headed by Dr Ulrich Wernery.
Pakistan World Cup squad
Sarfraz Ahmed (c), Fakhar Zaman, Imam-ul-Haq, Abid Ali, Babar Azam, Haris Sohail, Shoaib Malik, Mohammad Hafeez(subject to fitness), Imad Wasim, Shadab Khan, Hasan Ali, Faheem Ashraf, Junaid Khan, Shaheen Shah Afridi, Mohammad Hasnain
Two additions for England ODIs: Mohammad Amir and Asif Ali
