ABU DHABI // Most Arabs in the UAE have a poor image of Iran, according to a poll presented at last month’s Sir Bani Yas forum in Abu Dhabi.
The annual forum, organised by the Ministry of Foreign Affairs and the Centre for Strategic and International Studies, gathered foreign ministers from around the world with policy-makers and the UAE Cabinet.
The fifth forum focused on the crisis in Iraq and Syria, the role of Islamist movements, the changing political and security landscape in North Africa, the Middle East Peace Process and the role of Iran in the Middle East, during which the survey was presented.
The poll, which randomly surveyed 7,567 Arabic-speaking adults in Saudi Arabia, Lebanon, the UAE, Jordan, Egypt, Iraq and Turkey, asked whether Iran played a positive or negative role in Lebanon, Syria, Iraq, Bahrain and Yemen. Negative ratings averaged 52 per cent for respondents in the UAE.
It was conducted by US-based Zogby Research.
“Iran lost of a lot of its soft power because of the sectarian tensions and polarisation in the region,” said Dr Albadr Alshateri, adjunct professor at the National Defence College and researcher at the Armed Forces. “Iran, once viewed by the public as an axis of resistance, is now increasingly perceived as a sectarian power because of its intervention in Syria and support for the most sectarian elements in Iraq.”
In five of the seven countries surveyed, more than six in 10 respondents did not feel that Iran’s president, Hassan Rouhani, led the country to play a more positive role in the region. This sentiment was shared by the majority of Arabs in the UAE, at 65 per cent.
“Rouhani is yet to prove that he is in control of the situation in Iran,” said Prof Abdulkhaleq Abdulla, political science professor at UAE University. “He is yet to deliver in some of his promises and Iran is still playing a major negative role all over the place, especially in Yemen lately and before that in Syria and Iraq. So while people had high expectations in terms of delivery, Iran is still the same difficult Iran, which is a force of instability in the region. So Rouhani has not yet passed the test.”
When asked in 2012 whether relations between the UAE and Iran were positive, 57 per cent of Arabs in the UAE said they were not. That figure grew to 66 per cent this year.
“Iran still occupies the UAE islands, which is a major problem between both countries,” Prof Abdulla said. “Despite the call to improve relations and resolve this issue, Iran has not yet responded positively. And it also plays a very negative role when it comes to Bahrain. With all the propaganda that comes out of Iran on a daily basis inciting all sorts of sectarian discourse and I think, as a result, the feeling here in the UAE is that we are in solidarity with Bahrain and Saudi. So unless Iran tries to solve once and for all the island issue and stop its interference, the likelihood of this perception getting worse in the future is high.”
Mark Katz, professor of government and politics at the School of Policy, Government and International Affairs at George Mason University in Washington, DC, said there was a growing sense that Iran was determined to provide armed assistance to its Shia allies.
“And that if Iran is seeking a rapprochement with America and the West, it doesn’t appear to be seeking one with the Gulf states,” he said.
When asked whether the UAE should have friendlier relations with Iran, 53 per cent of Arabs in the country said it should not.
“Clearly, the lack of trust among Arabs vis-a-vis Iran is the prime factor,” Dr Alshateri said. “But if Rouhani follows words with actions, like moving on the issue of the three islands, contributing to a peaceful settlement to the Syrian civil strife, stop lending support to, or at least restraining, the Houthis in Yemen, allowing Lebanon to hold its presidential selection, then I think public opinion will change.”
cmalek@thenational.ae
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Essentials
The flights
Emirates and Etihad fly direct from the UAE to Geneva from Dh2,845 return, including taxes. The flight takes 6 hours.
The package
Clinique La Prairie offers a variety of programmes. A six-night Master Detox costs from 14,900 Swiss francs (Dh57,655), including all food, accommodation and a set schedule of medical consultations and spa treatments.
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.”
Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
England World Cup squad
Eoin Morgan (capt), Moeen Ali, Jofra Archer, Jonny Bairstow, Jos Buttler (wkt), Tom Curran, Liam Dawson, Liam Plunkett, Adil Rashid, Joe Root, Jason Roy, Ben Stokes, James Vince, Chris Woakes, Mark Wood
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Tax authority targets shisha levy evasion
The Federal Tax Authority will track shisha imports with electronic markers to protect customers and ensure levies have been paid.
Khalid Ali Al Bustani, director of the tax authority, on Sunday said the move is to "prevent tax evasion and support the authority’s tax collection efforts".
The scheme’s first phase, which came into effect on 1st January, 2019, covers all types of imported and domestically produced and distributed cigarettes. As of May 1, importing any type of cigarettes without the digital marks will be prohibited.
He said the latest phase will see imported and locally produced shisha tobacco tracked by the final quarter of this year.
"The FTA also maintains ongoing communication with concerned companies, to help them adapt their systems to meet our requirements and coordinate between all parties involved," he said.
As with cigarettes, shisha was hit with a 100 per cent tax in October 2017, though manufacturers and cafes absorbed some of the costs to prevent prices doubling.
Five ways to get fit like Craig David (we tried for seven but ran out of time)
Start the week as you mean to go on. So get your training on strong on a Monday.
Train hard, but don’t take it all so seriously that it gets to the point where you’re not having fun and enjoying your friends and your family and going out for nice meals and doing that stuff.
Think about what you’re training or eating a certain way for — don’t, for example, get a six-pack to impress somebody else or lose weight to conform to society’s norms. It’s all nonsense.
Get your priorities right.
And last but not least, you should always, always chill on Sundays.
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Chromite: Hard, metallic mineral containing iron oxide and chromium oxide
Ultramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica content
Ophiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on land
Olivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour
COMPANY PROFILE
Name: Kumulus Water
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