The US secretary of state John Kerry and representatives of the Gulf Cooperation Council and regional partners pose for photos at King Abdulaziz International Airport’s Royal Terminal in Jeddah, Saudi Arabia, where they met on September 11, 2014, to discuss a united front against the ISIL extremist group. Brendan Smialowski / AFP
The US secretary of state John Kerry and representatives of the Gulf Cooperation Council and regional partners pose for photos at King Abdulaziz International Airport’s Royal Terminal in Jeddah, Saudi Arabia, where they met on September 11, 2014, to discuss a united front against the ISIL extremist group. Brendan Smialowski / AFP
The US secretary of state John Kerry and representatives of the Gulf Cooperation Council and regional partners pose for photos at King Abdulaziz International Airport’s Royal Terminal in Jeddah, Saudi Arabia, where they met on September 11, 2014, to discuss a united front against the ISIL extremist group. Brendan Smialowski / AFP
The US secretary of state John Kerry and representatives of the Gulf Cooperation Council and regional partners pose for photos at King Abdulaziz International Airport’s Royal Terminal in Jeddah, Saudi

Arab states commit to US-led fight against ISIL


  • English
  • Arabic

JEDDAH // The UAE and nine other Arab countries agreed on Thursday to rally behind Washington in the fight against ISIL.

In addition to the Emirates, Saudi Arabia, Bahrain, Egypt, Iraq, Jordan, Kuwait, Lebanon, Qatar and Oman pledged to do their part to help the US defeat the extremists.

“The participating states agreed to do their share in the comprehensive fight” against ISIL, said a statement at the conclusion of a meeting between US secretary of state John Kerry and Arab foreign ministers.

The countries declared their “shared commitment to stand united against the threat posed by all terrorism, including the so-called Islamic State in Iraq and the Levant”.

Participation in the fight will include “as appropriate, joining in the many aspects of a coordinated military campaign against ISIL”.

The fight will include “stopping the flow of foreign fighters through neighbouring countries, countering financing of ISIL and other violent extremists, repudiating their hateful ideology, ending impunity and bringing perpetrators to justice”.

It will also include “contributing to humanitarian relief efforts, assisting with the reconstruction and rehabilitation of communities brutalised by ISIL, supporting states that face the most acute ISIL threat”.

They also agreed to boost support for the new Iraqi government as it tries to unite its citizens in the fight against the militants, and discussed strategies to “destroy” the group “wherever it is, including in both Iraq and Syria”.

Turkey also attended the meeting but did not sign the final communique.

Mr Kerry said after the meeting that

Kerry told reporters that Arab partners would play a “leading role” in the the fight against ISIL.

“As I understand ... from the meeting we had today, Arab nations play a critical role in that coalition, a leading role,” he said.

Greater regional support is seen as key to combating the spread of the group, which has proved so ruthless that even Al Qaeda severed ties with it this year.

Nearly 40 nations have agreed to contribute to what Mr Kerry predicted will be a worldwide fight to defeat the group.

Barack Obama on Wednesday laid out a long-term US strategy against the group that would include expanding airstrikes against its fighters in Iraq, launching strikes against them in Syria for the first time and bolstering the Iraqi military and moderate Syrian rebels to allow them to reclaim territory from the militants.

Riyadh is likely to play a major role in the effort after it agreed to open its military bases for the training of moderate Syrian rebel forces to better equip them against the threat of ISIL, a US official said.

Mr Obama was also able to rally support at home from his fellow Democrats and Republicans in Congress, from whom he has called for new authority to combat ISIL.

“We ought to give the president what he’s asking for,” said House speaker John Boehner, the top Republican in Congress.

In the frequently-gridlocked senate, both party’s leaders predicted legislators would swing behind the president’s request. “Not the least of which is the authority to equip and train Syrian troops to fight these ... evil terrorists,” said majority leader Harry Reid.

His Republican counterpart, Mitch McConnell, said: “Over the next week, following a series of briefings, Congress will work with the administration to ensure that our forces have the resources they need to carry out these missions.”

Meanwhile, Mr Kerry continues his mission of building up the anti-ISIL coalition with a visit to Turkey, a fellow Nato member, on Friday.

The only Muslim member of the core 10-nation coalition against ISIL that was forged at the Nato summit in Wales last week, Turkey will refuse to take part in combat operations against the militants or to allow its air bases to attack the militants in neighbouring Iraq and Syria, according to a government official.

“Turkey will not be involved in any armed operation but will entirely concentrate on humanitarian operations,” the official said ahead of Mr Kerry visit.

And Incirlik, a southern air base used for Nato operations in Iraq, “will be used only for logistical purposes and humanitarian assistance”, the official said.

A US official in Jeddah on Thursday said Turkey had its reasons for staying out of the coalition.

“We understand the challenging situation Turkey is in given their detained diplomats and they will make the decision on what role they can play moving forward.”

ISIL militants hold 49 Turks hostage, including diplomats and children, abducted from the Turkish consulate in Mosul in Iraq in June.

Mr Kerry is expected hold talks with president Recep Tayyip Erdogan and prime minister Ahmet Davutoglu in Ankara before travelling to Egypt on Saturday.

In Cairo, he will meet the Arab League chief Nabil Al Arabi “to brief the secretary general on the results of the Jeddah conference”, a senior league official said.

* With reporting by Agence France-Presse, Associated Press and Reuters

The National's picks

4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young

Labour dispute

The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.


- Abdullah Ishnaneh, Partner, BSA Law 

INFO

Everton 0

Arsenal 0

Man of the Match: Djibril Sidibe (Everton)

Men's football draw

Group A: UAE, Spain, South Africa, Jamaica

Group B: Bangladesh, Serbia, Korea

Group C: Bharat, Denmark, Kenya, USA

Group D: Oman, Austria, Rwanda

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

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.”

Fifa%20World%20Cup%20Qatar%202022%20
%3Cp%3E%3Cstrong%3EFirst%20match%3A%20%3C%2Fstrong%3ENovember%2020%0D%3Cbr%3E%3Cstrong%3EFinal%2016%20round%3A%20%3C%2Fstrong%3EDecember%203%20to%206%0D%3Cbr%3E%3Cstrong%3EQuarter-finals%3A%20%3C%2Fstrong%3EDecember%209%20and%2010%0D%3Cbr%3E%3Cstrong%3ESemi-finals%3A%20%3C%2Fstrong%3EDecember%2013%20and%2014%0D%3Cbr%3E%3Cstrong%3EFinal%3A%20%3C%2Fstrong%3EDecember%2018%3C%2Fp%3E%0A
EXPATS
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Lulu%20Wang%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Nicole%20Kidman%2C%20Sarayu%20Blue%2C%20Ji-young%20Yoo%2C%20Brian%20Tee%2C%20Jack%20Huston%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
The biog

Prefers vegetables and fish to meat and would choose salad over pizza

Walks daily as part of regular exercise routine 

France is her favourite country to visit

Has written books and manuals on women’s education, first aid and health for the family

Family: Husband, three sons and a daughter

Fathiya Nadhari's instructions to her children was to give back to the country

The children worked as young volunteers in social, education and health campaigns

Her motto is to never stop working for the country

Desert Warrior

Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

UAE currency: the story behind the money in your pockets
The bio

Favourite book: Peter Rabbit. I used to read it to my three children and still read it myself. If I am feeling down it brings back good memories.

Best thing about your job: Getting to help people. My mum always told me never to pass up an opportunity to do a good deed.

Best part of life in the UAE: The weather. The constant sunshine is amazing and there is always something to do, you have so many options when it comes to how to spend your day.

Favourite holiday destination: Malaysia. I went there for my honeymoon and ended up volunteering to teach local children for a few hours each day. It is such a special place and I plan to retire there one day.

Global state-owned investor ranking by size

1.

United States

2.

China

3.

UAE

4.

Japan

5

Norway

6.

Canada

7.

Singapore

8.

Australia

9.

Saudi Arabia

10.

South Korea

Warlight,
Michael Ondaatje, Knopf 

Indian origin executives leading top technology firms

Sundar Pichai

Chief executive, Google and Alphabet

Satya Nadella

Chief executive, Microsoft

Ajaypal Singh Banga

President and chief executive, Mastercard

Shantanu Narayen

Chief executive, chairman, and president, Adobe

Indra Nooyi  

Board of directors, Amazon and former chief executive, PepsiCo