US soldiers sit in a tank as a helicopter hovers during the Eager Lion joint military exercise in Jordan last week.
US soldiers sit in a tank as a helicopter hovers during the Eager Lion joint military exercise in Jordan last week.

Syrian regime, rebel supporters put pressure on Jordan



RAMTHA, JORDAN // At the lush border with Syria, Jordanian soldiers occasionally conduct their own foreign policy.
Despite Jordan's determination to avoid taking sides in the Syrian revolt, the border guards don't remain neutral when people fleeing across the border come under fire from Syrian soldiers.
Syrian watch towers dot the distance in an open valley near the Jordanian border town of Ramtha. Syrian rebels and refugees often flee through the valley.
In November, an army officer saved a pregnant woman who was fleeing with her husband and eight-year-old son. She had been shot by a Syrian guard and was struggling to reach the border. Jordanian soldiers fired at Syrian troops to provide cover and the family was saved.
"We saved her in our own way," said an officer, refusing to elaborate because he was not authorized to speak to journalists.
But helping the opposition is not official Jordanian policy. The kingdom is trying to remain neutral despite pressure from Syria to crack down on the refugees and pressure from Gulf states to help the rebels.
Saudi Arabia and Qatar want Jordan to allow weapons to move across the border to supply the rebels. Jordan, of course, is worried that President Bashar Al Assad will survive the uprising and punish Jordan for aiding the opposition.
There is precedent. In 1970 Syria invaded Jordan briefly and took control of 125 square kilometres of Jordanian territory. The countries finally settled the dispute in 2004, but the boundaries still are not clearly marked.
"Jordan is under tremendous pressure, particularly from the Gulf, to act as a conduit but the country is fretting about its security," Suleiman Ghneimat, a retired Jordanian army general said.
Mr Ghneimat said the Gulf kingdoms are offering financially ailing Jordan considerable aid for its cooperation.
"But if it takes action, the Syrian regime has supporters here both Syrians and Jordanian and they can act as a destabilizing force with the support of the Syrian regime.
"Also if the Syrian regime is pressured by more than one front, it will act like a cornered cat", he said.
Publicly, Jordan is neutral. But as violence worsens in Syria, Jordan may play a clandestine role in arming the Free Syrian Army (FSA), the main rebel fighting group.
Syrian rebels say that the FSA gets smuggled light weapons and bullets paid for by wealthy Syrian expats in Saudi Arabia and other Gulf states.
The arms are flowing into Syria from Turkey, Lebanon, Iraq and Jordan, rebels say.
Adding to tensions is a military exercise Jordan is hosting along the border with Sryia.
The "Eager Lion 2012" exercise is the largest in the region in 10 years and brings together army units from 17 countries, including the United States, France, Turkey and Saudi Arabia. Jordan and US officials denied the exercise has anything to do with Syria.
Syria accused Jordan this month on Syrian TV of "conspiring against Syria and supporting terrorists."
Jordanian officials deny they are being pressed to let the rebels smuggle weapons across the border.
Instead, the government talks about humanitarian assistance and estimates more than 100,000 refugees have entered Jordan since the uprising began 15 months ago.
Jordan says it has opened its schools for 6,500 Syrian students and provides free medical treatment at state hospitals. A royal-sponsored NGO says it distributes aid to 25,000 refugees.
Despite its neutral stance, the kingdom is worried that the Syrian regime might try to destabilise Jordan.
Syrian army defectors have been transferred from one military-guarded camp to another after Syrian regime moles tried to poison water tanks at the original camp, defectors and rebels have told The National.
Activists say restrictions have been imposed on visitors at a refugee housing complex after a similar poisoning attempt.
Mr Al Assad's regime has applied direct diplomatic pressure, too. Jordanian websites have reported that Assef Shawkat, the Syrian deputy minister of defense, visited Jordan several months ago, demanding that the kingdom hand over defectors and threatening to use military action. King Abdullah told him Jordan cannot be threatened.
But the Syrian pressure is affecting Jordan, Syrian activists say. They complain that Jordanian security officers have harassed, questioned and detained them in recent weeks.
Mohammad Abu Rumman, an analyst and commentator with Al Ghad, a local newspaper, attributed the treatment to the country's desire to avoid a confrontation with the Syrian regime.
For now, Jordan wants to play safe. It already has plenty of problems.
The Muslim Brotherhood's offshoot in Jordan, the Islamic Action Front, had elections this month and hardliners emerged with more power within the movement.
That development comes as the country's economy is suffering from a staggering budget deficit, its citizens are angry over the slow pace of reforms and consumers are chafing over recent price hikes.
smaayeh@thenational.ae

Financial considerations before buying a property

Buyers should try to pay as much in cash as possible for a property, limiting the mortgage value to as little as they can afford. This means they not only pay less in interest but their monthly costs are also reduced. Ideally, the monthly mortgage payment should not exceed 20 per cent of the purchaser’s total household income, says Carol Glynn, founder of Conscious Finance Coaching.

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Also, shop around for the best mortgage interest rate. Understand the terms and conditions, especially what happens after any introductory periods, Ms Glynn adds.

Using a good mortgage broker is worth the investment to obtain the best rate available for a buyer’s needs and circumstances. A good mortgage broker will help the buyer understand the terms and conditions of the mortgage and make the purchasing process efficient and easier. 

The specs

Engine: four-litre V6 and 3.5-litre V6 twin-turbo

Transmission: six-speed and 10-speed

Power: 271 and 409 horsepower

Torque: 385 and 650Nm

Price: from Dh229,900 to Dh355,000

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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
From Zero

Artist: Linkin Park

Label: Warner Records

Number of tracks: 11

Rating: 4/5

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Director: Alfonso Cuaron 

Stars: Cate Blanchett, Kevin Kline, Lesley Manville 

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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.”

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Sreesanth's India bowling career

Tests 27, Wickets 87, Average 37.59, Best 5-40

ODIs 53, Wickets 75, Average 33.44, Best 6-55

T20Is 10, Wickets 7, Average 41.14, Best 2-12

TO A LAND UNKNOWN

Director: Mahdi Fleifel

Starring: Mahmoud Bakri, Aram Sabbah, Mohammad Alsurafa

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Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
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Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

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Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

Nayanthara: Beyond The Fairy Tale

Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni

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In numbers

- Number of children under five will fall from 681 million in 2017 to 401m in 2100

- Over-80s will rise from 141m in 2017 to 866m in 2100

- Nigeria will become the world’s second most populous country with 791m by 2100, behind India

- China will fall dramatically from a peak of 2.4 billion in 2024 to 732 million by 2100

- an average of 2.1 children per woman is required to sustain population growth

Business Insights
  • As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses. 
  • SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income. 
  • Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
yallacompare profile

Date of launch: 2014

Founder: Jon Richards, founder and chief executive; Samer Chebab, co-founder and chief operating officer, and Jonathan Rawlings, co-founder and chief financial officer

Based: Media City, Dubai 

Sector: Financial services

Size: 120 employees

Investors: 2014: $500,000 in a seed round led by Mulverhill Associates; 2015: $3m in Series A funding led by STC Ventures (managed by Iris Capital), Wamda and Dubai Silicon Oasis Authority; 2019: $8m in Series B funding with the same investors as Series A along with Precinct Partners, Saned and Argo Ventures (the VC arm of multinational insurer Argo Group)

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'Gehraiyaan'
Director:Shakun Batra

Stars:Deepika Padukone, Siddhant Chaturvedi, Ananya Panday, Dhairya Karwa

Rating: 4/5

Citadel: Honey Bunny first episode

Directors: Raj & DK

Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon

Rating: 4/5

MATCH INFO

Barcelona 4 (Suarez 27', Vidal 32', Dembele 35', Messi 78')

Sevilla 0

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The cost of Covid testing around the world

Egypt

Dh514 for citizens; Dh865 for tourists

Information can be found through VFS Global.

Jordan

Dh212

Centres include the Speciality Hospital, which now offers drive-through testing.

Cambodia

Dh478

Travel tests are managed by the Ministry of Health and National Institute of Public Health.

Zanzibar

AED 295

Zanzibar Public Health Emergency Operations Centre, located within the Lumumba Secondary School compound.

Abu Dhabi

Dh85

Abu Dhabi’s Seha has test centres throughout the UAE.

UK

From Dh400

Heathrow Airport now offers drive through and clinic-based testing, starting from Dh400 and up to Dh500 for the PCR test.

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Uefa Champions League Group H

Juventus v Valencia, Tuesday, midnight (UAE)

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The stats: 2017 Jaguar XJ

Price, base / as tested Dh326,700 / Dh342,700

Engine 3.0L V6

Transmission Eight-speed automatic

Power 340hp @ 6,000pm

Torque 450Nm @ 3,500rpm

Fuel economy, combined 9.1L / 100km

Scores

Wales 74-24 Tonga
England 35-15 Japan
Italy 7-26 Australia

The low down

Producers: Uniglobe Entertainment & Vision Films

Director: Namrata Singh Gujral

Cast: Rajkummar Rao, Nargis Fakhri, Bo Derek, Candy Clark

Rating: 2/5

Ordinary Virtues: Moral Order in a Divided World by Michael Ignatieff
Harvard University Press

VEZEETA PROFILE

Date started: 2012

Founder: Amir Barsoum

Based: Dubai, UAE

Sector: HealthTech / MedTech

Size: 300 employees

Funding: $22.6 million (as of September 2018)

Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC

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9.25pm: Handicap (T) | $175,000 1,400m

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Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
THE BIO: Mohammed Ashiq Ali

Proudest achievement: “I came to a new country and started this shop”

Favourite TV programme: the news

Favourite place in Dubai: Al Fahidi. “They started the metro in 2009 and I didn’t take it yet.”

Family: six sons in Dubai and a daughter in Faisalabad