Head of the Syrian National Council (SNC) and Syrian opposition chief Abdel Basit Sayda speaks during a news conference in Abu Dhabi early on Sunday. REUTERS/Ben Job
Head of the Syrian National Council (SNC) and Syrian opposition chief Abdel Basit Sayda speaks during a news conference in Abu Dhabi early on Sunday. REUTERS/Ben Job

Syrian transitional government 'weeks away' from being finalised



DUBAI // A transitional government solution for Syria is weeks away from being finalised, according to the chairman of the opposing Syrian National Council.

Abdulbaset Saida, who was in Abu Dhabi yesterday for a meeting with foreign minister Sheikh Abdullah bin Zayed, told Sky News Arabia a transitional government proposal was discussed at the Arab Foreign Ministers’ meeting in Doha last week.

“The transitional government has been set as a priority at the last Arab meeting and we will be discussing with all the factions and parties involved in the struggle the criteria for it’s development,” he said.

Among the parties that need to be consulted are the Free Syrian Army and opposition political leaders currently in Syria, he added.

“The time frame set for this government to be formed is the next few weeks,” he said. “This government has to be set up and ready before the fall of the Assad regime.”

The Kofi Annan peace plan was a failure, Mr Saida, 55, said, referring to a plan sketched out by the former United Nations secretary general and put into play on March 27.

“After the failure of Annan’s plan, we will not accept any person from the regime to be in the government,” he said. “The opposition groups in Syria should represent this transitional government.

“We are not going to negotiate with the killers and we will not accept anything but justice against them. However, we are open to discussions with members of the regime who have not participated in the bloodshed,” he said.

Last week, the Syrian National Council (SNC) said it would accept an interim figure from the current regime, provided Bashar Al Assad stepped down as president.

Hours later it recanted the offer, saying only “a national consensus figure from the opposition” would be able to lead the country in a transition phase, and such a figure would “not be part of the regime”.

The council chairman once again called on Russia and China to support the Syrian people in his Sky News Arabia interview.

The SNC recognises Moscow as a major player, he said, but added they had not yet been approached by the Russian government for talks.

Mr Saida arrived in Abu Dhabi yesterday to hold talks with Sheikh Abdullah about potential financial and technical support for the opposition from the UAE.

Future solutions should not include any offer of asylum for President Basheer Al Assad, Mr Saida told AFP, adding the president should be tried for “massacres”.

He also urged Arab “brothers and friends to support the Free Syrian Army” with weapons. “We want weapons that would stop tanks and jet fighters. That is what we want,” he said.

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Joker: Folie a Deux

Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson

Director: Todd Phillips 

Rating: 2/5

How to play the stock market recovery in 2021?

If you are looking to build your long-term wealth in 2021 and beyond, the stock market is still the best place to do it as equities powered on despite the pandemic.

Investing in individual stocks is not for everyone and most private investors should stick to mutual funds and ETFs, but there are some thrilling opportunities for those who understand the risks.

Peter Garnry, head of equity strategy at Saxo Bank, says the 20 best-performing US and European stocks have delivered an average return year-to-date of 148 per cent, measured in local currency terms.

Online marketplace Etsy was the best performer with a return of 330.6 per cent, followed by communications software company Sinch (315.4 per cent), online supermarket HelloFresh (232.8 per cent) and fuel cells specialist NEL (191.7 per cent).

Mr Garnry says digital companies benefited from the lockdown, while green energy firms flew as efforts to combat climate change were ramped up, helped in part by the European Union’s green deal. 

Electric car company Tesla would be on the list if it had been part of the S&P 500 Index, but it only joined on December 21. “Tesla has become one of the most valuable companies in the world this year as demand for electric vehicles has grown dramatically,” Mr Garnry says.

By contrast, the 20 worst-performing European stocks fell 54 per cent on average, with European banks hit by the economic fallout from the pandemic, while cruise liners and airline stocks suffered due to travel restrictions.

As demand for energy fell, the oil and gas industry had a tough year, too.

Mr Garnry says the biggest story this year was the “absolute crunch” in so-called value stocks, companies that trade at low valuations compared to their earnings and growth potential.

He says they are “heavily tilted towards financials, miners, energy, utilities and industrials, which have all been hit hard by the Covid-19 pandemic”. “The last year saw these cheap stocks become cheaper and expensive stocks have become more expensive.” 

This has triggered excited talk about the “great value rotation” but Mr Garnry remains sceptical. “We need to see a breakout of interest rates combined with higher inflation before we join the crowd.”

Always remember that past performance is not a guarantee of future returns. Last year’s winners often turn out to be this year’s losers, and vice-versa.

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
 
 
 
 
 
 
 
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
COMPANY PROFILE
Name: Airev
Started: September 2023
Founder: Muhammad Khalid
Based: Abu Dhabi
Sector: Generative AI
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
 
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ADCC AFC Women’s Champions League Group A fixtures

October 3: v Wuhan Jiangda Women’s FC
October 6: v Hyundai Steel Red Angels Women’s FC
October 9: v Sabah FA

Key figures in the life of the fort

Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.

Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.

Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.

Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.

Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.

Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.

Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.

Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.

Sources: Jayanti Maitra, www.adach.ae

The specs
Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
On sale: Now
UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

The biog

Place of birth: Kalba

Family: Mother of eight children and has 10 grandchildren

Favourite traditional dish: Al Harees, a slow cooked porridge-like dish made from boiled cracked or coarsely ground wheat mixed with meat or chicken

Favourite book: My early life by Sheikh Dr Sultan bin Muhammad Al Qasimi, the Ruler of Sharjah

Favourite quote: By Sheikh Zayed, the UAE's Founding Father, “Those who have no past will have no present or future.”

UAE currency: the story behind the money in your pockets
Match info

Manchester United 1 (Van de Beek 80') Crystal Palace 3 (Townsend 7', Zaha pen 74' & 85')

Man of the match Wilfried Zaha (Crystal Palace)

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