In the face of mounting tensions between the US and Iran, with repercussions across the region, Saudi Arabia is hosting two emergency summits in Makkah on Thursday, one with Arab League leaders and the other with members of the Gulf Co-operation Council. A third meeting with members of the Organisation for Islamic Co-operation will follow on Friday. Top of the agenda will be Iran's destabilising behaviour, which threatens the whole region, from its ties with Hezbollah in Lebanon to its support of Houthi rebels in Yemen. Leaders will be discussing Tehran's latest bout of aggression, launched under the weight of punitive US sanctions and in retaliation for the US pullout from the nuclear deal. Houthi rebels attacked a Saudi pipeline and Iran-backed militias launched a rocket at Baghdad's Green Zone earlier this month. The sabotage of four tankers off the coast of Fujairah in the UAE – which US national security adviser John Bolton today blamed on Iranian naval mines – will also be among the chief concerns of the summits.
These meetings are an opportunity for the Arab world to stand united in the face of aggression. The nations convening in Makkah have strong historic and cultural bonds, even if they do not always concur on how to deal with threats. Iraq is expected to attend, despite its close ties with Iran. Qatar has been invited to the talks, even though the two-year boycott by the Arab quartet continues. Meanwhile, Hezbollah’s presence in the Lebanese government has prevented its leaders from taking a stand against Iran. The fragile stability of these two countries relies on maintaining good relations with both Washington and Tehran. But at a time when Iran is threatening to destabilise the whole region, a firm stance is needed to prevent further incursions. This is a time for Arab leaders to set aside their differences and express solidarity as those most affected by American-Iranian tensions.
But Arab countries must also be able to count on their western allies to provide support. In this regard, Mr Bolton’s current visit to Abu Dhabi sends a strong message. He reaffirmed that the US, the UAE and Saudi Arabia were “on the same page” about the threat of Iranian weapons and made a point of visiting the UAE capital to discuss the next steps. Diplomatic talks are essential to de-escalate the situation and Mr Trump has repeatedly said he would be ready to sit down at the negotiating table with Tehran – an offer that Iran has shown no interest in reciprocating.
The meetings in Makkah should not be treated as a mere photo opportunity. They can and should be used to reaffirm strong ties, decide a course of action and play a pivotal role in de-escalating a dangerous situation.
UAE currency: the story behind the money in your pockets
Company profile
Company name: Nestrom
Started: 2017
Co-founders: Yousef Wadi, Kanaan Manasrah and Shadi Shalabi
Based: Jordan
Sector: Technology
Initial investment: Close to $100,000
Investors: Propeller, 500 Startups, Wamda Capital, Agrimatico, Techstars and some angel investors
How Apple's credit card works
The Apple Card looks different from a traditional credit card — there's no number on the front and the users' name is etched in metal. The card expands the company's digital Apple Pay services, marrying the physical card to a virtual one and integrating both with the iPhone. Its attributes include quick sign-up, elimination of most fees, strong security protections and cash back.
What does it cost?
Apple says there are no fees associated with the card. That means no late fee, no annual fee, no international fee and no over-the-limit fees. It also said it aims to have among the lowest interest rates in the industry. Users must have an iPhone to use the card, which comes at a cost. But they will earn cash back on their purchases — 3 per cent on Apple purchases, 2 per cent on those with the virtual card and 1 per cent with the physical card. Apple says it is the only card to provide those rewards in real time, so that cash earned can be used immediately.
What will the interest rate be?
The card doesn't come out until summer but Apple has said that as of March, the variable annual percentage rate on the card could be anywhere from 13.24 per cent to 24.24 per cent based on creditworthiness. That's in line with the rest of the market, according to analysts
What about security?
The physical card has no numbers so purchases are made with the embedded chip and the digital version lives in your Apple Wallet on your phone, where it's protected by fingerprints or facial recognition. That means that even if someone steals your phone, they won't be able to use the card to buy things.
Is it easy to use?
Apple says users will be able to sign up for the card in the Wallet app on their iPhone and begin using it almost immediately. It also tracks spending on the phone in a more user-friendly format, eliminating some of the gibberish that fills a traditional credit card statement. Plus it includes some budgeting tools, such as tracking spending and providing estimates of how much interest could be charged on a purchase to help people make an informed decision.
* Associated Press
How to increase your savings
- Have a plan for your savings.
- Decide on your emergency fund target and once that's achieved, assign your savings to another financial goal such as saving for a house or investing for retirement.
- Decide on a financial goal that is important to you and put your savings to work for you.
- It's important to have a purpose for your savings as it helps to keep you motivated to continue while also reducing the temptation to spend your savings.
- Carol Glynn, founder of Conscious Finance Coaching
A Dog's Journey
Directed by: Gail Mancuso
Starring: Dennis Quaid, Josh Gad, Marg Helgenberger, Betty Gilpin, Kathryn Prescott
3 out of 5 stars
The team
Photographer: Mateusz Stefanowski at Art Factory
Videographer: Jear Valasquez
Fashion director: Sarah Maisey
Make-up: Gulum Erzincan at Art Factory
Model: Randa at Art Factory Videographer’s assistant: Zanong Magat
Photographer’s assistant: Sophia Shlykova
With thanks to Jubail Mangrove Park, Jubail Island, Abu Dhabi