Tensions are running high between Russia and Ukraine, the EU and Nato. Reuters
Tensions are running high between Russia and Ukraine, the EU and Nato. Reuters
Tensions are running high between Russia and Ukraine, the EU and Nato. Reuters
Tensions are running high between Russia and Ukraine, the EU and Nato. Reuters


Diplomacy must be revived as international conflicts loom


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February 03, 2022

For weeks, the world's eyes have been on the Ukraine-Russia border, where there are fears Europe might be perilously close to war. The situation is no less fraught today. After a month and a half of making no direct comments on the matter, Russian President Vladimir Putin on Tuesday accused the West of trying lure his country into war by ignoring its diplomatic and security concerns.

There are fissures within the EU and Nato powers over how to deal with the issue, and a looming severe continental energy crisis is set to be aggravated by the tensions. It is important to remember that Russia and Ukraine have technically been at war since 2014, when Russian separatist forces annexed Crimea, but today's fears are that even the smallest triggers might produce something far deadlier.

It is difficult not to draw grim parallels from history. While Europe has been largely conflict-free in recent times, part of the motivation for creating mechanisms for multilateral co-operation in the latter half of the 20th century, embodied most acutely in the EU and Nato, was to put a stop to the long history of fighting on the continent. The First and Second World Wars began in Europe, and killed 100 million people combined. They were followed by half a century of "cold war" between the West and the USSR, which nearly took the world to nuclear annihilation.

It is also important to remember that these conflicts involved the rest of the world. And that is where today's parallels are even more concerning, because it is not just in Eastern Europe that inter-state tensions are running high enough to raise alarm bells.

This week, North Korea successfully launched its most powerful missile in five years. There are fears that as great powers remain preoccupied by Ukraine-Russia tensions, not enough attention will be paid to that escalation; after all, these conditions are very similar to ones that led to one of the most intense geopolitical episodes of the Trump presidency, which saw a bizarre but highly confrontational war of words between the former US president and North Korean leader Kim Jong-un over Twitter.

  • North Korean leader Kim Jong-un attends the eighth conference of military educationists of the Korean People's Army at the April 25 House of Culture in Pyongyang. Korean Central News Agency / AFP
    North Korean leader Kim Jong-un attends the eighth conference of military educationists of the Korean People's Army at the April 25 House of Culture in Pyongyang. Korean Central News Agency / AFP
  • Kim Jong-un attends a military parade marking the ruling party congress at Kim Il-sung Square in Pyongyang in January 2021. KCNA / AP
    Kim Jong-un attends a military parade marking the ruling party congress at Kim Il-sung Square in Pyongyang in January 2021. KCNA / AP
  • Kim Jong-un is applauded by a military unit after what North Korea claimed was a test firing of its 'super-large' multiple rocket launcher in November 2019. KCNA / AP
    Kim Jong-un is applauded by a military unit after what North Korea claimed was a test firing of its 'super-large' multiple rocket launcher in November 2019. KCNA / AP
  • Kim Jong-un rides a horse to climb Mount Paektu in North Korea in October 2019. KCNA / AP
    Kim Jong-un rides a horse to climb Mount Paektu in North Korea in October 2019. KCNA / AP
  • Kim Jong-un and former US president Donald Trump shake hands over the military demarcation line at the border village of Panmunjom in the demilitarised zone in June 2019. KCNA / AP
    Kim Jong-un and former US president Donald Trump shake hands over the military demarcation line at the border village of Panmunjom in the demilitarised zone in June 2019. KCNA / AP
  • Kim Jong-un and South Korean President Moon Jae-in raise their hands after signing a joint statement in Panmunjom in April 2018. Korea Summit Press Pool / AP
    Kim Jong-un and South Korean President Moon Jae-in raise their hands after signing a joint statement in Panmunjom in April 2018. Korea Summit Press Pool / AP
  • Kim Jong-un inspects a launch drill of the medium and long-range strategic ballistic rocket Hwasong-12 at an undisclosed location in September 2017. KCNA / AFP
    Kim Jong-un inspects a launch drill of the medium and long-range strategic ballistic rocket Hwasong-12 at an undisclosed location in September 2017. KCNA / AFP
  • Kim Jong-un smiles with soldiers after inspecting the multiple-rocket launching drill of the women's sub-units under the Korean People's Army Unit 851 at an undisclosed location in North Korea, April 2014. KCNA / AFP
    Kim Jong-un smiles with soldiers after inspecting the multiple-rocket launching drill of the women's sub-units under the Korean People's Army Unit 851 at an undisclosed location in North Korea, April 2014. KCNA / AFP
  • Kim Jong-un talks to former NBA star Dennis Rodman as they watch an exhibition basketball game at an indoor stadium in Pyongyang in January 2014. KCNA / AP
    Kim Jong-un talks to former NBA star Dennis Rodman as they watch an exhibition basketball game at an indoor stadium in Pyongyang in January 2014. KCNA / AP
  • Kim Jong-un inspects a mass parade of the Worker-Peasant Red Guards at Kim Il-sung Square in Pyongyang to mark the 65th anniversary of national foundation day, September 2013. KCNA / AFP
    Kim Jong-un inspects a mass parade of the Worker-Peasant Red Guards at Kim Il-sung Square in Pyongyang to mark the 65th anniversary of national foundation day, September 2013. KCNA / AFP
  • Kim Jong-un visits watch posts of KPA Unit 507 in the Kangwon province of North Korea, June 2013. KCNA / AFP
    Kim Jong-un visits watch posts of KPA Unit 507 in the Kangwon province of North Korea, June 2013. KCNA / AFP
  • Kim Jong-un enjoys the ride as he attends the completion ceremony of the Rungna People's Pleasure Ground in Pyongyang in July 2012. KCNA / AP
    Kim Jong-un enjoys the ride as he attends the completion ceremony of the Rungna People's Pleasure Ground in Pyongyang in July 2012. KCNA / AP
  • Kim Jong-un is surrounded by members of the Korean Children's Union in Pyongyang in June 2012. KCNA / AFP
    Kim Jong-un is surrounded by members of the Korean Children's Union in Pyongyang in June 2012. KCNA / AFP
  • Kim Jong-un attends a meeting of the Supreme People's Assembly in Pyongyang in April 2012. KCNA / AFP
    Kim Jong-un attends a meeting of the Supreme People's Assembly in Pyongyang in April 2012. KCNA / AFP
  • Kim Jong-un aims a gun on an inspection tour of the Sporting Bullet Factory in Pyongyang in February 2012. KCNA / AFP
    Kim Jong-un aims a gun on an inspection tour of the Sporting Bullet Factory in Pyongyang in February 2012. KCNA / AFP
  • Kim Jong-un salutes besides the convoy carrying the body of his father and late leader Kim Jong-il at Kumsusan Memorial Palace in Pyongyang in December 2011. KCNA / AFP
    Kim Jong-un salutes besides the convoy carrying the body of his father and late leader Kim Jong-il at Kumsusan Memorial Palace in Pyongyang in December 2011. KCNA / AFP
  • Late North Korean leader Kim Jong-il with his son Kim Jong-un on the balcony as they attend a military parade marking the 65th anniversary of the communist nation's ruling Workers' Party in Pyongyang, October 2010. Kyodo News / AP
    Late North Korean leader Kim Jong-il with his son Kim Jong-un on the balcony as they attend a military parade marking the 65th anniversary of the communist nation's ruling Workers' Party in Pyongyang, October 2010. Kyodo News / AP
  • Kim Il-sung with his son and chosen successor, Kim Jong-il in November 1986. KCNA / AFP
    Kim Il-sung with his son and chosen successor, Kim Jong-il in November 1986. KCNA / AFP

At the same time, North Korea appears to thrive on attention. That is a challenge for diplomats. Yesterday, the US called for an emergency meeting at the UN Security Council over North Korea's latest launch — it could hardly be expected not to.

For his part, US President Joe Biden has struck a balance between acknowledging the challenges facing North Korea while also holding it accountable for perceived aggressive actions. It represents an all too rarely consistent American geopolitical approach over two starkly different presidencies. That is why, at least in this arena, diplomacy still has much to give.

With much of the back channels and unspoken norms of the Cold War era now gone, it is time that those involved in Ukraine-Russia tensions similarly use diplomacy not as a facade, but as the means to step back from the brink. It is not just the best option the world has, but the only one if another war, with all its capacity to hurt those two countries and the rest of the globe, is to be avoided.

Top 10 most polluted cities
  1. Bhiwadi, India
  2. Ghaziabad, India
  3. Hotan, China
  4. Delhi, India
  5. Jaunpur, India
  6. Faisalabad, Pakistan
  7. Noida, India
  8. Bahawalpur, Pakistan
  9. Peshawar, Pakistan
  10. Bagpat, India
Company%20profile
%3Cp%3E%3Cstrong%3ECompany%3A%20%3C%2Fstrong%3EPOPC%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2022%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EAmna%20Aijaz%2C%20Haroon%20Tahir%20and%20Arafat%20Ali%20Khan%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%2C%20UAE%3Cbr%3E%3Cstrong%3EIndustry%3A%20%3C%2Fstrong%3Eart%20and%20e-commerce%3Cbr%3E%3Cstrong%3EFunds%20raised%3A%20u%3C%2Fstrong%3Endisclosed%20amount%20raised%20through%20Waverider%20Entertainment%3C%2Fp%3E%0A
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Some of Darwish's last words

"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008

His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.

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Company%20Profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Neo%20Mobility%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20February%202023%3Cbr%3E%3Cstrong%3ECo-founders%3A%3C%2Fstrong%3E%20Abhishek%20Shah%20and%20Anish%20Garg%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Logistics%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20%2410%20million%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Delta%20Corp%2C%20Pyse%20Sustainability%20Fund%2C%20angel%20investors%3C%2Fp%3E%0A
The specs

Engine: 1.5-litre turbo

Power: 181hp

Torque: 230Nm

Transmission: 6-speed automatic

Starting price: Dh79,000

On sale: Now

EA Sports FC 26

Publisher: EA Sports

Consoles: PC, PlayStation 4/5, Xbox Series X/S

Rating: 3/5

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.”

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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 

The drill

Recharge as needed, says Mat Dryden: “We try to make it a rule that every two to three months, even if it’s for four days, we get away, get some time together, recharge, refresh.” The couple take an hour a day to check into their businesses and that’s it.

Stick to the schedule, says Mike Addo: “We have an entire wall known as ‘The Lab,’ covered with colour-coded Post-it notes dedicated to our joint weekly planner, content board, marketing strategy, trends, ideas and upcoming meetings.”

Be a team, suggests Addo: “When training together, you have to trust in each other’s abilities. Otherwise working out together very quickly becomes one person training the other.”

Pull your weight, says Thuymi Do: “To do what we do, there definitely can be no lazy member of the team.” 

Name: Peter Dicce

Title: Assistant dean of students and director of athletics

Favourite sport: soccer

Favourite team: Bayern Munich

Favourite player: Franz Beckenbauer

Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates 

 

Key products and UAE prices

iPhone XS
With a 5.8-inch screen, it will be an advance version of the iPhone X. It will be dual sim and comes with better battery life, a faster processor and better camera. A new gold colour will be available.
Price: Dh4,229

iPhone XS Max
It is expected to be a grander version of the iPhone X with a 6.5-inch screen; an inch bigger than the screen of the iPhone 8 Plus.
Price: Dh4,649

iPhone XR
A low-cost version of the iPhone X with a 6.1-inch screen, it is expected to attract mass attention. According to industry experts, it is likely to have aluminium edges instead of stainless steel.
Price: Dh3,179

Apple Watch Series 4
More comprehensive health device with edge-to-edge displays that are more than 30 per cent bigger than displays on current models.

Updated: February 03, 2022, 3:05 AM