A Syrian fighter, backed by Turkey, holds position in Marea, in northern Aleppo. AFP
A Syrian fighter, backed by Turkey, holds position in Marea, in northern Aleppo. AFP
A Syrian fighter, backed by Turkey, holds position in Marea, in northern Aleppo. AFP
A Syrian fighter, backed by Turkey, holds position in Marea, in northern Aleppo. AFP

Erdogan calls on Putin to move Kurdish groups from Syrian border


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Turkish President Recep Tayyip Erdogan called his Russian counterpart Vladimir Putin on Sunday to discuss Turkey's long-held ambition to create a 30km buffer zone on its border with Syria.

Mr Erdogan said Russia could play a role in “clearing” Kurdish militia groups from the area, having previously criticised Moscow for not following through with a 2019 agreement to do so.

Ankara has accused the Syrian Democratic Forces, a mostly Kurdish militia group backed by the US, of working with the separatist Kurdistan Workers' Party (PKK) to commit attacks inside Turkey, including a bombing on November 13 in Istanbul which killed six people including two children.

Both groups deny any role in the attack, which led to a Turkish air campaign against their positions in Syria and northern Iraq, killing at least 100 people, mostly militia fighters.

  • People inspect the damage after Turkish air strikes hit a power station in Taql Baql, Syria. AP
    People inspect the damage after Turkish air strikes hit a power station in Taql Baql, Syria. AP
  • A fire rages at an oil installation hit by a Turkish air strike in Tal Awdah, in north-eastern Syria's Hasakah province. AFP
    A fire rages at an oil installation hit by a Turkish air strike in Tal Awdah, in north-eastern Syria's Hasakah province. AFP
  • Residents walk over the rubble of a building destroyed by a rocket in the town of Azaz, Aleppo province. AFP
    Residents walk over the rubble of a building destroyed by a rocket in the town of Azaz, Aleppo province. AFP
  • People look at a site damaged by Turkish air strikes in Taql Baql, Hasakah province. AP
    People look at a site damaged by Turkish air strikes in Taql Baql, Hasakah province. AP
  • A person wounded in a rocket attack in the town of Azaz receives medical care at a clinic. AFP
    A person wounded in a rocket attack in the town of Azaz receives medical care at a clinic. AFP
  • A Syrian fighter fires a machinegun mounted on the back of motorcycle during military drills by the Turkish-backed Suleiman Shah Division in the opposition-held Afrin region of northern Syria. AFP
    A Syrian fighter fires a machinegun mounted on the back of motorcycle during military drills by the Turkish-backed Suleiman Shah Division in the opposition-held Afrin region of northern Syria. AFP
  • Turkey's Defence Minister Hulusi Akar visits the Land Forces Operation Centre, in Ankara. Reuters
    Turkey's Defence Minister Hulusi Akar visits the Land Forces Operation Centre, in Ankara. Reuters
  • Mr Akar is briefed on the operations. Reuters
    Mr Akar is briefed on the operations. Reuters
  • Kurds attend a funeral of people killed in Turkish air strikes in the village of Al Malikiyah, northern Syria. AP
    Kurds attend a funeral of people killed in Turkish air strikes in the village of Al Malikiyah, northern Syria. AP
  • Women mourn during the funeral service. AP
    Women mourn during the funeral service. AP
  • Police arrest members of the Peoples' Democratic Party (HDP) during a protest against the Turkish Armed Forces' (TSK) air campaign in the northern regions of Iraq and Syria, in Ankara. AFP
    Police arrest members of the Peoples' Democratic Party (HDP) during a protest against the Turkish Armed Forces' (TSK) air campaign in the northern regions of Iraq and Syria, in Ankara. AFP

The US considers the PKK a terrorist organisation, but says that it does not work directly with the SDF. The SDF’s main fighting component is the People’s Protection Units, or YPG, a Kurdish militia that played a key role defeating ISIS in eastern Syria, with western support.

Turkish soldiers and allied Islamist militia groups made up of former anti-government rebels control northern districts of Aleppo, Hasakah and Idlib governorates and Mr Erdogan has threatened to launch deeper thrusts into Syrian territory to target Kurdish militias.

Moscow has ties to Kurdish officials — who are also allied to the US — but Russia's influence on deployment of Kurdish militias is complicated by growing co-operation between Syrian-Kurdish groups and the government of Bashar Al Assad, who has relied heavily on Russian military support.

The SDF, despite being supported by about 900 US soldiers in eastern Syria, has been losing ground to Turkish incursions since 2016, actions condemned by Damascus and Washington.

Syria considers such incursions a violation of its sovereignty while the US says they are disrupting efforts to consolidate gains against the now-diminished ISIS group.

Meanwhile, the SDF says at least 10,000 ISIS prisoners in their custody, in addition to 70,000 women and children linked to the group, could escape from camps in the event of an escalation of fighting.

Turkey's President told Mr Putin it was "important to clear the [Kurdish fighters] from the border to a depth of at least 30km", his office said. Mr Erdogan stated it was "a priority", the Turkish presidency said. Some of the Kurdish forces are stationed in areas under Russian military control.

The Kremlin confirmed the 2019 agreement was discussed in the call. "The two countries' defence and foreign services will maintain close contacts in this regard," a statement from Moscow said.

Both Moscow and Washington have been exerting diplomatic pressure on Ankara, advising against a new ground campaign.

Under a 2019 deal signed with Turkey, Russia promised to establish a buffer zone between the Turkish border and YPG forces that would be controlled by the Syrian army and Russian military police. The agreement was not fully put into place, although Russian and Syrian government forces are present in the frontier region, as well as some US troops.

Super Saturday race card

4pm: Mahab Al Shimaal Group 3 | US$350,000 | (Dirt) | 1,200m
4.35pm: Al Bastakiya Listed | $300,000 | (D) | 1,900m
5.10pm: Nad Al Sheba Turf Group 3 | $350,000 | (Turf) | 1,200m
5.45pm: Burj Nahaar Group 3 | $350,000 | (D) | 1,600m
6.20pm: Dubai City of Gold Group 2 | $300,000 | (T) | 2,410m
6.55pm: Al Maktoum Challenge Round 3 Group 1 | $600,000 | (D) | 2,000m
7.30pm: Jebel Hatta Group 1 | $400,000 | (T) | 1,800m

The Matrix Resurrections

Director: Lana Wachowski

Stars:  Keanu Reeves, Carrie-Anne Moss, Jessica Henwick 

Rating:****

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

MATCH INFO

Europa League final

Who: Marseille v Atletico Madrid
Where: Parc OL, Lyon, France
When: Wednesday, 10.45pm kick off (UAE)
TV: BeIN Sports

Company profile

Company: Rent Your Wardrobe 

Date started: May 2021 

Founder: Mamta Arora 

Based: Dubai 

Sector: Clothes rental subscription 

Stage: Bootstrapped, self-funded 

What can you do?

Document everything immediately; including dates, times, locations and witnesses

Seek professional advice from a legal expert

You can report an incident to HR or an immediate supervisor

You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline

In criminal cases, you can contact the police for additional support

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.”

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

Benefits of first-time home buyers' scheme
  • Priority access to new homes from participating developers
  • Discounts on sales price of off-plan units
  • Flexible payment plans from developers
  • Mortgages with better interest rates, faster approval times and reduced fees
  • DLD registration fee can be paid through banks or credit cards at zero interest rates

21 Lessons for the 21st Century

Yuval Noah Harari, Jonathan Cape
 

Company%C2%A0profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3Eamana%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2010%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Karim%20Farra%20and%20Ziad%20Aboujeb%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EUAE%3Cbr%3E%3Cstrong%3ERegulator%3A%20%3C%2Fstrong%3EDFSA%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinancial%20services%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%20%3C%2Fstrong%3E85%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3ESelf-funded%3Cbr%3E%3C%2Fp%3E%0A
Company profile

Name: Tharb

Started: December 2016

Founder: Eisa Alsubousi

Based: Abu Dhabi

Sector: Luxury leather goods

Initial investment: Dh150,000 from personal savings

 

Profile of Foodics

Founders: Ahmad AlZaini and Mosab AlOthmani

Based: Riyadh

Sector: Software

Employees: 150

Amount raised: $8m through seed and Series A - Series B raise ongoing

Funders: Raed Advanced Investment Co, Al-Riyadh Al Walid Investment Co, 500 Falcons, SWM Investment, AlShoaibah SPV, Faith Capital, Technology Investments Co, Savour Holding, Future Resources, Derayah Custody Co.

Brief scoreline:

Al Wahda 2

Al Menhali 27', Tagliabue 79'

Al Nassr 3

Hamdallah 41', Giuliano 45 1', 62'

Genesis G80 2020 5.0-litre Royal Specs

Engine: 5-litre V8

Gearbox: eight-speed automatic

Power: 420hp

Torque: 505Nm

Fuel economy, combined: 12.4L/100km

Price: Dh260,500

The Way It Was: My Life with Frank Sinatra by Eliot Weisman and Jennifer Valoppi
Hachette Books

COMPANY%20PROFILE%20
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Haltia.ai%0D%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202023%0D%3Cbr%3E%3Cstrong%3ECo-founders%3A%3C%2Fstrong%3E%20Arto%20Bendiken%20and%20Talal%20Thabet%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%2C%20UAE%0D%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20AI%0D%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%2041%0D%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20About%20%241.7%20million%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Self%2C%20family%20and%20friends%26nbsp%3B%3C%2Fp%3E%0A

From Conquest to Deportation

Jeronim Perovic, Hurst

Electric scooters: some rules to remember
  • Riders must be 14-years-old or over
  • Wear a protective helmet
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  • Do not leave electric scooter in locations that obstruct traffic or pedestrians
  • Solo riders only, no passengers allowed
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While you're here
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COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EQureos%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EUAE%0D%3Cbr%3E%3Cstrong%3ELaunch%20year%3A%20%3C%2Fstrong%3E2021%0D%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%20%3C%2Fstrong%3E33%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3ESoftware%20and%20technology%0D%3Cbr%3E%3Cstrong%3EFunding%3A%20%3C%2Fstrong%3E%243%20million%0D%3Cbr%3E%3C%2Fp%3E%0A
What is graphene?

Graphene is extracted from graphite and is made up of pure carbon.

It is 200 times more resistant than steel and five times lighter than aluminum.

It conducts electricity better than any other material at room temperature.

It is thought that graphene could boost the useful life of batteries by 10 per cent.

Graphene can also detect cancer cells in the early stages of the disease.

The material was first discovered when Andre Geim and Konstantin Novoselov were 'playing' with graphite at the University of Manchester in 2004.

SPECS
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Updated: December 11, 2022, 3:19 PM