Dr Mohammad Amin, vice president of the American University in the Emirates, addresses “Nato’s Approach to Gulf Cooperation”, the international conference in Dubai. Pawan Singh / The National
Dr Mohammad Amin, vice president of the American University in the Emirates, addresses “Nato’s Approach to Gulf Cooperation”, the international conference in Dubai. Pawan Singh / The National

Nato must concentrate more on Arabian Gulf to ensure regional security, experts say



DUBAI // Nato will have to focus more on issues in the Arabian Gulf to ensure its stability, security experts say.

Counter-terrorism, cyber defence, energy security and weapons of mass destruction are among crucial areas the alliance will have to tackle to improve its relationship with GCC states, the audience at the Nato ICI 2013 conference heard yesterday.

“What’s going on in Iraq and Syria poses serious security threats to the Middle East and the region,” Vural Altay, Turkey’s ambassador to the UAE, said at the meeting, which presented Nato’s approach to the Gulf.

“This necessitates much more collaboration of Nato with regional countries.”

Mr Altay said the partnership needed more engagement from both sides.

“Nato is nowadays ‘the’ military organisation’, and beyond that the organisation that can really bring security to all the troubled regions of the world,” he said.

“The first thing that needs to be done is to get rid of some prejudices that exist on both sides.

“Nato should look at this region in a more detailed manner, whereas this region should try to learn more about Nato.

“So more public diplomacy is a must in order to bring this relationship to a higher level.”

Areas that require attention include energy security, piracy and food security.

"Some issues that Nato face include transnational crime, terrorism, cyber-security, weapons of mass destruction and the proliferation part of it, as well as governance," said Dr Mohammad Amin, vice president of the American University in the Emirates.

“The global security threat has become very pronounced when you look into the current situation and Nato should really assess and look at precisely how they can go about improving it. We have to find out ways so that cooperation can be achieved.”

Dr Amin said promoting security interests on a collaborative form could be the emerging tone.

“Future challenges include counter-terrorism and cyber defence,” he said. “Engagement in security, humanitarian and development challenges must be looked into. We must address common concerns for the stability of the region.”

But Nato said it was ready to develop its Gulf partnerships further in modernising and building defence.

“A challenge will be to develop these areas as well as maritime and energy cooperation,” said Dr Rolf Schwarz, political officer of Mena at Nato’s political affairs and security policy division.

“Cooperation between Nato and the Gulf has evolved and there’s a need to continue building trust.”

But regional experts said more needed to be done.

“You see Nato with all its experience and our region that really needs security and support, and you don’t see much happening,” said Dr Abdullah Baabood, director of Gulf studies at Qatar University.

“There is a need for Nato here in terms of security, but there is a lot of work that needs to be done in terms of outreach and public diplomacy.

“There is a need for strategic dialogue – armies, defence structure and establishments welcome Nato – but it’s the political side of things that control them that need to be engaged with more and more.”

Dr Baabood said more focus should be placed on practical cooperation in maritime security and regional challenges.

But Nato officials said there was a need to promote a better understanding of the organisation in the region.

“The key is that it’s a two-way street,” said Nicola de Santis, head of Mena at Nato’s political affairs and security policy division.

“There are misperceptions but a lot has been done between Nato and Gulf governments that the public doesn’t know.

“Through partnerships, we can prevent conflicts and we’re trying to do this for more security, more stability, and ultimately more peace.”

Alessandro Minuto Rizzo, an Italian diplomat who is the president of the Nato Defence College Foundation and former Nato deputy secretary general, said the security guarantee in this part of the world had the “potential to grow with Nato. Security providers are needed in the Gulf”.

cmalek@thenational.ae

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.

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The Byblos iftar in numbers

29 or 30 days – the number of iftar services held during the holy month

50 staff members required to prepare an iftar

200 to 350 the number of people served iftar nightly

160 litres of the traditional Ramadan drink, jalab, is served in total

500 litres of soup is served during the holy month

200 kilograms of meat is used for various dishes

350 kilograms of onion is used in dishes

5 minutes – the average time that staff have to eat
 

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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.”

Know your cyber adversaries

Cryptojacking: Compromises a device or network to mine cryptocurrencies without an organisation's knowledge.

Distributed denial-of-service: Floods systems, servers or networks with information, effectively blocking them.

Man-in-the-middle attack: Intercepts two-way communication to obtain information, spy on participants or alter the outcome.

Malware: Installs itself in a network when a user clicks on a compromised link or email attachment.

Phishing: Aims to secure personal information, such as passwords and credit card numbers.

Ransomware: Encrypts user data, denying access and demands a payment to decrypt it.

Spyware: Collects information without the user's knowledge, which is then passed on to bad actors.

Trojans: Create a backdoor into systems, which becomes a point of entry for an attack.

Viruses: Infect applications in a system and replicate themselves as they go, just like their biological counterparts.

Worms: Send copies of themselves to other users or contacts. They don't attack the system, but they overload it.

Zero-day exploit: Exploits a vulnerability in software before a fix is found.

MATCH INFO

Alaves 1 (Perez 65' pen)

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Company profile

Date started: January, 2014

Founders: Mike Dawson, Varuna Singh, and Benita Rowe

Based: Dubai

Sector: Education technology

Size: Five employees

Investment: $100,000 from the ExpoLive Innovation Grant programme in 2018 and an initial $30,000 pre-seed investment from the Turn8 Accelerator in 2014. Most of the projects are government funded.

Partners/incubators: Turn8 Accelerator; In5 Innovation Centre; Expo Live Innovation Impact Grant Programme; Dubai Future Accelerators; FHI 360; VSO and Consult and Coach for a Cause (C3)

MATCH INFO

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Mini John Cooper Works Clubman and Mini John Cooper Works Countryman

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