"It was surprising that the US advised its citizens two weeks ago to be cautious while travelling to Europe for fear of possible 'terrorist' attacks at targets in European cities," wrote Yasir al Zaatra. In an opinion piece for the Jordanian daily Addustoor, Mr al Zaatra discussed why the warnings were problematic.
James Jones, a former official in the Obama White house who recently resigned, said that American authorities had "no clear goals". European sources said that the information that may have prompted the declaration was only based on statements by a German prisoner detained in Afghanistan.
Such warnings may serve al Qa'eda, because they will keep it in the spotlight and increase its influence. Moreover, they will keep its enemies on alert, which will push them to spend heavily in order to secure critical infrastructure and other landmarks from potential attacks.
Sometimes political authorities send warnings as part of a "disclaimer" strategy in the event that an attack happens. Many times they act on minor threats whose sources are unknown.
"Probably, this time, the US along with its European allies did this for mere political purposes. They possibly have over-exaggerated the al Qa'eda threats in order to justify the war in Afghanistan and the unmanned drone sorties that kill Pakistani civilians on the border."
Lebanon's political situation turns tense
The visits to Saudi Arabia of the Syrian president Bashar al Assad, the Lebanese prime minister Saad al Hariri, and Jeffrey Feltman, the US assistant secretary of state for Near Eastern Affairs, focused on the tense situation in Lebanon. The London-based newspaper Al Quds al Arabi discussed the implications of these visits for the region in its editorial.
The intensive diplomatic contacts in Riyadh shed light on the extent to which the two main political blocs, the March 14 and the March 8 alliances, are divided on relations with the Islamic Republic of Iran.
The March 14 coalition considers that Tehran is biased in favour of the March 8 alliance, and has criticised Iran's president Mahmoud Ahmadinejad's visit. They say it was aimed at increasing Iranian influence by way of Hizbollah. Meanwhile, other political powers believe that he had the right to visit Lebanon.
The controversy over the visit and its implications has invoked anew the spectre of conflict between various Lebanese political forces, and especially between the Shiite and Sunni Muslims. It may also spark a new wave of violence in the form of political assassinations.
The newspaper hopes that the outcome of the Syrian-Saudi summit will ally these fears as Iran still sponsors the option of military resistance against Israel.
A double-game for Pakistan
"Although Pakistan captured Almulla Abdul Ghani Baradar along with others, it released many Afghan Taliban figures it had arrested earlier at the same time." In an opinion piece in the UAE newspaper Al Ittihad, Abdullah al Haj wrote that although the Pakistani intelligence service announced that it had arrested the Afghan Taliban's second-in-command, western troops still believe that they have good relations with the movement.
This leads western officials to think that freeing important Taliban members was an indication that Pakistani intelligence was playing a double game as it continues providing support to the Taliban. Official sources said that Pakistan leads a complex foreign policy, as it strives to keep good relations with both the West and the Afghan government. Meanwhile, it maintains a good rapport with the Taliban, with the aim of controlling the course of the war.
The Pakistani government did not deny undertaking direct contacts with the Afghan Taliban, yet it described these as "not dangerous" and only meant to control the armed groups in Pakistan.
Even though the West has exerted pressure on Pakistan to cut its relations with the Taliban, Islamabad has not seriously followed suit because this would contradict its supreme interests.
It is time to regulate mixed marriage in UAE
In an opinion piece for the UAE newspaper Al Bayan, Fadheela al Mueini discussed the rising phenomenon of marriage to foreign women in the UAE.
The author criticised the fact that many young Emirati men prefer to wed foreign women at the expense of Emirati women on baseless grounds. "Some would say Emirati women are after their husband's money as if he were a walking ATM machine. These arguments make no sense. Men used them to justify their marriage with non-Emirati women."
Many of those women, once they obtained Emirati citizenship, rush to request divorce, especially if their husbands are much older than they are. They do this because they know they can live well afterward, thanks to the government welfare system.
"There is a need to activate the law regulating marriage to foreign women, frozen for 12 years, which stipulates the prior approval of the ministry of interior, and meeting specific conditions."
It is also necessary to draft a proposal to increase the legal time interval between the marriage contract and the right to obtain citizenship from three to 15 years.
If this does not happen, the number of unmarried UAE women will continue to increase, causing more women and their families to suffer even further.
* Digest compiled by Mostapha El Mouloudi
melmouloudi@thenational.ae
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
The%C2%A0specs%20
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TRAP
Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue
Director: M Night Shyamalan
Rating: 3/5
Profile box
Company name: baraka
Started: July 2020
Founders: Feras Jalbout and Kunal Taneja
Based: Dubai and Bahrain
Sector: FinTech
Initial investment: $150,000
Current staff: 12
Stage: Pre-seed capital raising of $1 million
Investors: Class 5 Global, FJ Labs, IMO Ventures, The Community Fund, VentureSouq, Fox Ventures, Dr Abdulla Elyas (private investment)
The specs: 2019 Mercedes-Benz C200 Coupe
Price, base: Dh201,153
Engine: 2.0-litre turbocharged four-cylinder
Transmission: Nine-speed automatic
Power: 204hp @ 5,800rpm
Torque: 300Nm @ 1,600rpm
Fuel economy, combined: 6.7L / 100km
Libya's Gold
UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves.
The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.
Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.
A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
Torbal Rayeh Wa Jayeh
Starring: Ali El Ghoureir, Khalil El Roumeithy, Mostafa Abo Seria
Stars: 3
What is the Supreme Petroleum Council?
The Abu Dhabi Supreme Petroleum Council was established in 1988 and is the highest governing body in Abu Dhabi’s oil and gas industry. The council formulates, oversees and executes the emirate’s petroleum-related policies. It also approves the allocation of capital spending across state-owned Adnoc’s upstream, downstream and midstream operations and functions as the company’s board of directors. The SPC’s mandate is also required for auctioning oil and gas concessions in Abu Dhabi and for awarding blocks to international oil companies. The council is chaired by Sheikh Khalifa, the President and Ruler of Abu Dhabi while Sheikh Mohamed bin Zayed, Abu Dhabi’s Crown Prince and Deputy Supreme Commander of the Armed Forces, is the vice chairman.
Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
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How Apple's credit card works
The Apple Card looks different from a traditional credit card — there's no number on the front and the users' name is etched in metal. The card expands the company's digital Apple Pay services, marrying the physical card to a virtual one and integrating both with the iPhone. Its attributes include quick sign-up, elimination of most fees, strong security protections and cash back.
What does it cost?
Apple says there are no fees associated with the card. That means no late fee, no annual fee, no international fee and no over-the-limit fees. It also said it aims to have among the lowest interest rates in the industry. Users must have an iPhone to use the card, which comes at a cost. But they will earn cash back on their purchases — 3 per cent on Apple purchases, 2 per cent on those with the virtual card and 1 per cent with the physical card. Apple says it is the only card to provide those rewards in real time, so that cash earned can be used immediately.
What will the interest rate be?
The card doesn't come out until summer but Apple has said that as of March, the variable annual percentage rate on the card could be anywhere from 13.24 per cent to 24.24 per cent based on creditworthiness. That's in line with the rest of the market, according to analysts
What about security?
The physical card has no numbers so purchases are made with the embedded chip and the digital version lives in your Apple Wallet on your phone, where it's protected by fingerprints or facial recognition. That means that even if someone steals your phone, they won't be able to use the card to buy things.
Is it easy to use?
Apple says users will be able to sign up for the card in the Wallet app on their iPhone and begin using it almost immediately. It also tracks spending on the phone in a more user-friendly format, eliminating some of the gibberish that fills a traditional credit card statement. Plus it includes some budgeting tools, such as tracking spending and providing estimates of how much interest could be charged on a purchase to help people make an informed decision.
* Associated Press
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
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.”
UNSC Elections 2022-23
Seats open:
- Two for Africa Group
- One for Asia-Pacific Group (traditionally Arab state or Tunisia)
- One for Latin America and Caribbean Group
- One for Eastern Europe Group
Countries so far running:
The biog
Favourite book: Men are from Mars Women are from Venus
Favourite travel destination: Ooty, a hill station in South India
Hobbies: Cooking. Biryani, pepper crab are her signature dishes
Favourite place in UAE: Marjan Island
From Zero
Artist: Linkin Park
Label: Warner Records
Number of tracks: 11
Rating: 4/5