The continuing Syrian peace talks in Vienna caused a strong reaction in regional Arabic newspapers over the past week. In the pan-Arab daily Al Hayat, editor-in-chief Ghassan Charbel set the scene for the talks, writing “the Syrian map was laying on table, sick and soaked in blood. International and regional doctors had called it to Vienna”.
“The world could have abandoned Syria to self-destruction, were it not for two resounding issues. The first is ISIL, which harmed the opposition more than it harmed the regime of Bashar Al Assad. The second is the introduction of Russian jets, which has given the conflict a dangerous new international dimension,” he wrote.
The writer went on to describe the millions of refugees waiting in camps in Jordan, Turkey and Lebanon, while waves of Syrians have sought refuge in Europe. Large parts of Syria have transformed into training areas for suicide-bombers and extremists.
In other words, according to the writer, Syria has become a grave danger for the region and for the international community.
The world is unanimous in its Syria diagnosis: the patient suffers multiple cancers – terrorism, massacres and intervention. The only point of disagreement is the type of treatment and its phases. Some countries are actively participating in the conflict, while others have placed their own interests above the patient. How difficult it is to save a patient when the individual interests of the doctors diverge, argued Charbel.
“Syria’s tragedy is that its war is greater than the country itself and that any solution will reform the regional balance of power and draw a new regional order. The process will be lengthy and complex and more blood will be shed until the belligerents and their doctors let go of their stakes and illusions. The matter goes beyond the so-called Assad knot,” he noted.
Charbel concluded that “for the patient to swallow the medication prescribed in Vienna, a reconciliation between the principles of Geneva and local, regional and international developments must be achieved”.
In the Abu Dhabi-based Al Ittihad, the sister newspaper of The National, Abdel Wahhab Baderkhan pointed out that intelligence agents seldom make public disclosures, and when they do, their points contain clear data, analysis and provisions. This was a segway to describe recent statements about Syria from western intelligence services.
During the Intelligence Conference held in Washington last week the heads of US and French intelligence shed light on the quest for a political solution in Syria two days after the second round of peace talks in Vienna. Baderkhan remarked that Bernard Bajolet, head of the French secret services, clearly stipulated that “the Middle East that we know has gone and I doubt it will ever return” during the conference.
“The agent was not seeking sensationalism. He was simply reading the events in Syria and Iraq where political and social geography has been torn into pieces by civil war and terrorism. He did not hesitate to say that the two countries would never retrieve their previous borders.”
However, Baderkhan concluded, Mr Bajolet did not tackle one of the most important questions about the region: is this change limited to Syria and Iraq or will it spread throughout the region? A unified Syria was barely able to ensure the bare necessities of development. What will the future hold when the region breaks down into multiple statelets?
*Translated by Carla Mirza
cmirza@thenational.ae
Gulf Under 19s
Pools
A – Dubai College, Deira International School, Al Ain Amblers, Warriors
B – Dubai English Speaking College, Repton Royals, Jumeirah College, Gems World Academy
C – British School Al Khubairat, Abu Dhabi Harlequins, Dubai Hurricanes, Al Yasmina Academy
D – Dubai Exiles, Jumeirah English Speaking School, English College, Bahrain Colts
Recent winners
2018 – Dubai College
2017 – British School Al Khubairat
2016 – Dubai English Speaking School
2015 – Al Ain Amblers
2014 – Dubai College
BACK%20TO%20ALEXANDRIA
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COMPANY%20PROFILE
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The bio
Favourite book: Peter Rabbit. I used to read it to my three children and still read it myself. If I am feeling down it brings back good memories.
Best thing about your job: Getting to help people. My mum always told me never to pass up an opportunity to do a good deed.
Best part of life in the UAE: The weather. The constant sunshine is amazing and there is always something to do, you have so many options when it comes to how to spend your day.
Favourite holiday destination: Malaysia. I went there for my honeymoon and ended up volunteering to teach local children for a few hours each day. It is such a special place and I plan to retire there one day.
Russia's Muslim Heartlands
Dominic Rubin, Oxford
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Biggest%20applause
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Baby Driver
Director: Edgar Wright
Starring: Ansel Elgort, Kevin Spacey, Jamie Foxx, Lily James
Three and a half stars
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Company%20Profile
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57%20Seconds
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How%20champions%20are%20made
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
Meatless Days
Sara Suleri, with an introduction by Kamila Shamsie
Penguin
COMPANY%20PROFILE%20
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Libya's Gold
UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves.
The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.
Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.
A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.
SCHEDULE
December 8: UAE v USA (Sharjah Cricket Stadium)
December 9: USA v Scotland (Sharjah Cricket Stadium)
December 11: UAE v Scotland (Sharjah Cricket Stadium)
December 12: UAE v USA (ICC Academy Oval 1)
December 14: USA v Scotland (ICC Academy Oval 1)
December 15: UAE v Scotland (ICC Academy Oval 1)
All matches start at 10am
How Tesla’s price correction has hit fund managers
Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.
It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.
The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.
Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.
Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.
He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.
AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”
A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.
Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.
Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.
Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.
By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.
Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.
In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”
Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.
She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.
Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.
The biog
Age: 59
From: Giza Governorate, Egypt
Family: A daughter, two sons and wife
Favourite tree: Ghaf
Runner up favourite tree: Frankincense
Favourite place on Sir Bani Yas Island: “I love all of Sir Bani Yas. Every spot of Sir Bani Yas, I love it.”
Opening Rugby Championship fixtures:Games can be watched on OSN Sports
Saturday: Australia v New Zealand, Sydney, 1pm (UAE)
Sunday: South Africa v Argentina, Port Elizabeth, 11pm (UAE)
Premier Futsal 2017 Finals
Al Wasl Football Club; six teams, five-a-side
Delhi Dragons: Ronaldinho
Bengaluru Royals: Paul Scholes
Mumbai Warriors: Ryan Giggs
Chennai Ginghams: Hernan Crespo
Telugu Tigers: Deco
Kerala Cobras: Michel Salgado