The meeting of Syrian opposition groups in Saudi Arabia last week was neither an unqualified success nor, as some claim, a “fiasco”. The complex task of trying to organise the fractious Syrian opposition was certainly advanced, but was akin to herding cats.
The Riyadh meeting comes primarily in the context of several international meetings in Vienna that transformed the diplomatic landscape on Syria by outlining an ambitious framework for peace. It calls for an immediate ceasefire and UN-brokered talks between the regime and the opposition to begin by January 1, followed by elections within 18 months. The Americans supported the expedited timetable to emphasise the need for action.
Moreover, Washington reversed its demand that Iran agree to the 2012 "Geneva communiqué". Iran never did, but was invited to Vienna anyway.
All of this added urgency to an existing Saudi plan to create an opposition umbrella. Planning for the conference had been in the works for almost a year. But Vienna added pressure and created a make-or-break atmosphere. Either the meeting would show that progress towards opposition unity is possible or demonstrate that it's practically impossible.
In the event, the Riyadh conference did succeed in producing a joint platform agreed by almost all of the participants, which is what many observers had identified as the essential test for success or failure.
It calls for Bashar Al Assad to step down at the start of a negotiated "transitional period", which will produce a "democratic mechanism through a pluralistic regime that represents all sectors of the Syrian people".
The mere fact that this incredibly disparate bunch was able to agree to any common language at all is itself something of an achievement. No one expected them to fully come together after one short meeting. Washington, for instance, welcomed its "positive outcome".
Unfortunately, even the vagueness of the joint statement, and the fact that the Syrian opposition is still enormously divided, aren't the biggest problems.
The ultraconservative Ahrar Al Sham militia, which is one of the larger armed rebel groups, was always going to be the biggest headache at the meeting, and for all serious efforts to unite the opposition under the current circumstances. The group's attendance was in some doubt, because of its radical agenda. It insists on the establishment of an "Islamic" state in Syria, which none of the other main factions believe is essential. Worse, it has frequently co-operated with the Al Qaeda franchise in Syria, Jabhat Al Nusra.
Its association with Al Qaeda, naturally, makes Ahrar Al Sham unacceptable to the US and very unpalatable to Saudi Arabia and the other key opposition sponsors, Turkey and Qatar.
The organisation is under heavy pressure from other rebel groups and, especially, the US and Saudi Arabia, to either break with Jabhat Al Nusra or convince that group to break with Al Qaeda. On the ground, of course, Ahrar Al Sham finds itself under heavy counterpressure from Jabhat Al Nusra to forget about the international community and join their "jihad." "Choose" is the word that has frequently been launched at Ahrar Al Sham by Al Qaeda sympathisers in Syria in recent weeks.
The good news is that Ahrar Al Sham showed up at the Riyadh conference, because without them, the opposition would have been missing too many armed constituencies.
The bad news is that the group's representatives at first angrily denounced the joint statement and walked out of the meeting in a huff. This was somewhat ameliorated by the announcement that the group had changed its mind and now endorses the joint statement.
This, of course, suggests that Ahrar Al Sham is itself badly divided, with some factions wanting to cooperate with the Saudi-led and US-supported political agenda, and others seeing this all as a sell-out. What the group will ultimately decide to do remains a huge question mark, and the fortunes of the opposition may depend on it. But bringing them on board, one way or another, is central to creating a political umbrella representative enough of the opposition fighting forces on the ground to be politically credible in negotiations.
Perhaps the most surprising development was the announcement by the able Saudi chair of the meeting, Abdulaziz Al Sager, that the Syrian opposition plans to meet regime officials on January 10. Before anyone gets carried away, Mr Al Assad declared in reaction to the meeting that he would not negotiate with "terrorists" and that "everyone who holds a machine-gun is a terrorist".
The bottom line is that both the regime and many of the mainstream rebel groups believe that they might well be able to strengthen their hands through additional fighting. That means that, despite the wishes of the US and Russia, the local forces in Syria – and probably many of their regional backers as well – aren't yet ready to calculate the price they're willing to pay at peace talks.
For now, alas, the fighting will continue. But the Riyadh meeting was an important, albeit limited, step forward in creating the integrated political umbrella necessary for the opposition to ultimately join an agreement to end the Syrian conflict.
Hussein Ibish is a senior resident scholar at the Arab Gulf States Institute in Washington
On Twitter: @ibishblog
Other workplace saving schemes
- The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
- Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
- National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
- In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
- Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
Bio:
Favourite Quote: Prophet Mohammad's quotes There is reward for kindness to every living thing and A good man treats women with honour
Favourite Hobby: Serving poor people
Favourite Book: The Alchemist by Paulo Coelho
Favourite food: Fish and vegetables
Favourite place to visit: London
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
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%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EAlmouneer%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202017%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Dr%20Noha%20Khater%20and%20Rania%20Kadry%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EEgypt%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%20%3C%2Fstrong%3E120%3Cbr%3E%3Cstrong%3EInvestment%3A%20%3C%2Fstrong%3EBootstrapped%2C%20with%20support%20from%20Insead%20and%20Egyptian%20government%2C%20seed%20round%20of%20%3Cbr%3E%243.6%20million%20led%20by%20Global%20Ventures%3Cbr%3E%3C%2Fp%3E%0A
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
The Matrix Resurrections
Director: Lana Wachowski
Stars: Keanu Reeves, Carrie-Anne Moss, Jessica Henwick
Rating:****
The specs: 2019 Mercedes-Benz GLE
Price, base / as tested Dh274,000 (estimate)
Engine 3.0-litre inline six-cylinder
Gearbox Nine-speed automatic
Power 245hp @ 4,200rpm
Torque 500Nm @ 1,600rpm
Fuel economy, combined 6.4L / 100km
When Umm Kulthum performed in Abu Dhabi
Known as The Lady of Arabic Song, Umm Kulthum performed in Abu Dhabi on November 28, 1971, as part of celebrations for the fifth anniversary of the accession of Sheikh Zayed bin Sultan Al Nahyan as Ruler of Abu Dhabi. A concert hall was constructed for the event on land that is now Al Nahyan Stadium, behind Al Wahda Mall. The audience were treated to many of Kulthum's most well-known songs as part of the sold-out show, including Aghadan Alqak and Enta Omri.
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
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.”
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
How to avoid crypto fraud
- Use unique usernames and passwords while enabling multi-factor authentication.
- Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
- Avoid suspicious social media ads promoting fraudulent schemes.
- Only invest in crypto projects that you fully understand.
- Critically assess whether a project’s promises or returns seem too good to be true.
- Only use reputable platforms that have a track record of strong regulatory compliance.
- Store funds in hardware wallets as opposed to online exchanges.
Cryopreservation: A timeline
- Keyhole surgery under general anaesthetic
- Ovarian tissue surgically removed
- Tissue processed in a high-tech facility
- Tissue re-implanted at a time of the patient’s choosing
- Full hormone production regained within 4-6 months
JOKE'S%20ON%20YOU
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Key 2013/14 UAE Motorsport dates
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)
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
THE BIO
Born: Mukalla, Yemen, 1979
Education: UAE University, Al Ain
Family: Married with two daughters: Asayel, 7, and Sara, 6
Favourite piece of music: Horse Dance by Naseer Shamma
Favourite book: Science and geology
Favourite place to travel to: Washington DC
Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.