Yemen has exploded on to the political scene as a central front in the battle against al Qa'eda. Long a stomping ground for al Qa'eda affiliates, the country has witnessed the organisation's revival in the past few years under a new leadership.
In response, the Obama administration in Washington appears to be emphatically throwing its weight behind the unpopular Saleh regime in Sana'a. The US president has made it "a priority to strengthen partnership with the Yemeni government", and the US Central Command chief, General David Petraeus, has announced that security assistance to the country will more than double, from $70 million to $150 million.
So for now it seems that Washington and Sana'a have renewed their troubled counter-terrorism cooperation at a time when the Yemeni state is buckling under the weight of multiple, converging socio-economic and political crises.
An aggressive counter-terrorism campaign against al Qa'eda in Yemen will certainly answer the US public's demand for immediate action after the failed Christmas bombing of a plane over Detroit; but it risks further destabilising the country, providing recruitment propaganda for al Qa'eda, and ultimately undermining US national security interests. In fact, a narrow counter-terrorism approach will fail to address the underlying causes of instability in Yemen that are supporting al Qa'eda in the first place.
Al Qa'eda is a symptom, not the cause, of instability in Yemen. The organisation finds room to operate in part because of Yemen's chronic poverty, weak central government and expanding pockets of domestic unrest. While the Saleh regime is a necessary partner in the struggle against al Qa'eda, its policies perpetuate the very political and economic conditions that support al Qa'eda expansion.
Mr Saleh has repeatedly avoided the political and economic reforms that would address local grievances, salvage the economy and buttress his domestic legitimacy. Endemic corruption, underdevelopment, divide-and-rule politics and the manipulation of regional and sectarian identities for tactical gain are undermining the authority of the central government, both in the northern province of Sadaa, where Mr Saleh has been fighting a domestic insurgency for five years, and in the south where demands for seccession are on the rise. Mr Saleh's mode of rule has also perpetuated tense relations between the regime and tribal factions, providing room for al Qa'eda to align with disgruntled tribal groups.
Though combating al Qa'eda is the US government's priority, it is not Mr Saleh's. He is focused on the narrow target of staying in power, and at the moment that means fighting the Houthi rebellion in the north and the secessionist movement in the south. Some elements of al Qa'eda are perceived as a threat, but not on the level of these rebellions. As such, despite current co-operation, persuading Mr Saleh to sustain an aggressive campaign against al Qa'eda will be difficult for the US.
Yemen's political and economic climate provides fertile ground for al Qa'eda. As such, addressing the challenge will require more than hi-tech satellite imagery, drones and missiles. While capture-and-kill operations are necessary in some cases, they are woefully inadequate in the long term. In addition to neglecting root causes, a strategy based primarily on counter-terrorism could play into al Qa'eda's hands, strengthening its recruitment potential and support base.
Already, US-assisted operations against suspected al Qa'eda operatives have drawn the ire of local tribes fiercely opposed to outside interference, and a wide array of citizens who resent the death of innocent civilians. While in some cases the strikes eliminate al Qa'eda leadership, ultimately the cost is at the narrative level, where al Qa'eda seems to be gaining strength.
An al Qa'eda safe haven in Yemen poses a grave threat that must be addressed. It is critical, however, for the Obama administration to avoid pursuing an approach dominated by capture-and-kil. This will not address the root causes of the problem and it could actually aggravate the situation, especially if the US is perceived as actively supporting military actions that kill Yemeni civilians.
Instead, the administration should pursue a policy of multilateral engagement that assists Yemen with counter-terrorism operations while simultaneously encouraging political and economic reform. The US should not act alone, nor should it necessarily lead engagement. The GCC countries, particularly Saudi Arabia, have an interest, the resources and the influence to lead economic reform and investment initiatives. Political reform is tricky and will require skilful diplomatic efforts by the US and European allies. Certainly some Gulf neighbours are well positioned to play a role in assisting with political reconciliation, but gaining their tacit support for broader political reform will be challenging.
While reform may seem like a luxury Yemen cannot afford in the context of spreading instability, it is an essential element in salvaging the viability of the state and protecting regional and international security interests. Fortunately, Yemen has historical precedent for national dialogue, compromise and reconciliation. Opposition leaders and reformers inside the regime are converging on the need for a national dialogue to address issues such as power sharing, decentralisation, development, corruption and institutional reform. With international mediation and support, they may well find a Yemeni solution to Yemen's domestic problems.
The security challenges in Yemen do not present an easy solution, and especially not a military one. Instead, they require a skilful use of diplomatic and development instruments of power in the context of multilateral engagement. While neither politically attractive nor easily quantifiable, this strategy offers the greatest chance of serving long-term security and counter-terrorism priorities.
Dr April Longley Alley is a former Fulbright Fellow in Yemen, and a research associate at the National Defence University in Washington
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.”
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
ICC Women's T20 World Cup Asia Qualifier 2025, Thailand
UAE fixtures
May 9, v Malaysia
May 10, v Qatar
May 13, v Malaysia
May 15, v Qatar
May 18 and 19, semi-finals
May 20, final
Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
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The specs: 2018 Nissan Patrol Nismo
Price: base / as tested: Dh382,000
Engine: 5.6-litre V8
Gearbox: Seven-speed automatic
Power: 428hp @ 5,800rpm
Torque: 560Nm @ 3,600rpm
Fuel economy, combined: 12.7L / 100km
CHELSEA SQUAD
Arrizabalaga, Bettinelli, Rudiger, Christensen, Silva, Chalobah, Sarr, Azpilicueta, James, Kenedy, Alonso, Jorginho, Kante, Kovacic, Saul, Barkley, Ziyech, Pulisic, Mount, Hudson-Odoi, Werner, Havertz, Lukaku.
How to avoid crypto fraud
- Use unique usernames and passwords while enabling multi-factor authentication.
- Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
- Avoid suspicious social media ads promoting fraudulent schemes.
- Only invest in crypto projects that you fully understand.
- Critically assess whether a project’s promises or returns seem too good to be true.
- Only use reputable platforms that have a track record of strong regulatory compliance.
- Store funds in hardware wallets as opposed to online exchanges.
The Bio
Hometown: Bogota, Colombia
Favourite place to relax in UAE: the desert around Al Mleiha in Sharjah or the eastern mangroves in Abu Dhabi
The one book everyone should read: 100 Years of Solitude by Gabriel Garcia Marquez. It will make your mind fly
Favourite documentary: Chasing Coral by Jeff Orlowski. It's a good reality check about one of the most valued ecosystems for humanity
England's all-time record goalscorers:
Wayne Rooney 53
Bobby Charlton 49
Gary Lineker 48
Jimmy Greaves 44
Michael Owen 40
Tom Finney 30
Nat Lofthouse 30
Alan Shearer 30
Viv Woodward 29
Frank Lampard 29
What's in the deal?
Agreement aims to boost trade by £25.5bn a year in the long run, compared with a total of £42.6bn in 2024
India will slash levies on medical devices, machinery, cosmetics, soft drinks and lamb.
India will also cut automotive tariffs to 10% under a quota from over 100% currently.
Indian employees in the UK will receive three years exemption from social security payments
India expects 99% of exports to benefit from zero duty, raising opportunities for textiles, marine products, footwear and jewellery
More coverage from the Future Forum
SPECS
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Credit Score explained
What is a credit score?
In the UAE your credit score is a number generated by the Al Etihad Credit Bureau (AECB), which represents your credit worthiness – in other words, your risk of defaulting on any debt repayments. In this country, the number is between 300 and 900. A low score indicates a higher risk of default, while a high score indicates you are a lower risk.
Why is it important?
Financial institutions will use it to decide whether or not you are a credit risk. Those with better scores may also receive preferential interest rates or terms on products such as loans, credit cards and mortgages.
How is it calculated?
The AECB collects information on your payment behaviour from banks as well as utilitiy and telecoms providers.
How can I improve my score?
By paying your bills on time and not missing any repayments, particularly your loan, credit card and mortgage payments. It is also wise to limit the number of credit card and loan applications you make and to reduce your outstanding balances.
How do I know if my score is low or high?
By checking it. Visit one of AECB’s Customer Happiness Centres with an original and valid Emirates ID, passport copy and valid email address. Liv. customers can also access the score directly from the banking app.
How much does it cost?
A credit report costs Dh100 while a report with the score included costs Dh150. Those only wanting the credit score pay Dh60. VAT is payable on top.
The Settlers
Director: Louis Theroux
Starring: Daniella Weiss, Ari Abramowitz
Rating: 5/5
Europe’s rearming plan
- Suspend strict budget rules to allow member countries to step up defence spending
- Create new "instrument" providing €150 billion of loans to member countries for defence investment
- Use the existing EU budget to direct more funds towards defence-related investment
- Engage the bloc's European Investment Bank to drop limits on lending to defence firms
- Create a savings and investments union to help companies access capital
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COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
T20 World Cup Qualifier
October 18 – November 2
Opening fixtures
Friday, October 18
ICC Academy: 10am, Scotland v Singapore, 2.10pm, Netherlands v Kenya
Zayed Cricket Stadium: 2.10pm, Hong Kong v Ireland, 7.30pm, Oman v UAE
UAE squad
Ahmed Raza (captain), Rohan Mustafa, Ashfaq Ahmed, Rameez Shahzad, Darius D’Silva, Mohammed Usman, Mohammed Boota, Zawar Farid, Ghulam Shabber, Junaid Siddique, Sultan Ahmed, Imran Haider, Waheed Ahmed, Chirag Suri, Zahoor Khan
Players out: Mohammed Naveed, Shaiman Anwar, Qadeer Ahmed
Players in: Junaid Siddique, Darius D’Silva, Waheed Ahmed