The future of Washington's deal with the Taliban and a US troop presence in Afghanistan is unclear. REUTERS
The future of Washington's deal with the Taliban and a US troop presence in Afghanistan is unclear. REUTERS
The future of Washington's deal with the Taliban and a US troop presence in Afghanistan is unclear. REUTERS
The future of Washington's deal with the Taliban and a US troop presence in Afghanistan is unclear. REUTERS

Foreign troops to stay in Afghanistan beyond May deadline, say Nato sources


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International troops may remain in Afghanistan beyond the May deadline envisaged by the Taliban's deal with the US, four senior Nato officials said.

The move could increase tensions as the insurgents are demanding complete withdrawal.

"There will be no full withdrawal by allies by April-end," one official said.

"Conditions have not been met," he said. "And with the new US administration, there will be tweaks in the policy. The sense of hasty withdrawal which was prevalent will be addressed and we could see a much more calculated exit strategy."

The Pentagon on Thursday said the Taliban’s refusal to meet commitments to reduce violence in Afghanistan raised questions about whether all US troops will be able to leave by May as required under the peace agreement.

Pentagon chief spokesman John Kirby said the US stands by its commitment for a full troop withdrawal, but the agreement also calls for the Taliban to cut ties with Al Qaeda and reduce violence.

Echoing what senior military and defence leaders asserted in recent months, Mr Kirby said the Taliban has not yet met the requirements set in the peace agreement.

“Without them meeting their commitments to renounce terrorism and to stop the violent attacks against the Afghan National Security Forces, it’s very hard to see a specific way forward for the negotiated settlement,” Mr Kirby said. “But we’re still committed to that.”

The administration of president Donald Trump signed an agreement with the Taliban last year that called for the withdrawal of all foreign troops by May in return for the insurgents honouring security guarantees.

Mr Trump said the accord – which did not include the Afghan government – as the end of two decades of war. He reduced US troops to 2,500 by this month, the fewest since 2001.

Plans on what will happen after April are now being considered and likely to be a top issue at a Nato meeting in February, the Nato sources said.

The positions of the North Atlantic Treaty Organisation are becoming increasingly important after the alliance was sidelined by Mr Trump, diplomats and experts said.

Peace talks between the Afghan government and the Taliban began in September in Doha, but violence has remained high.

"No Nato ally wants to stay in Afghanistan longer than necessary, but we have been clear that our presence remains conditions-based," said Nato spokeswoman Oana Lungescu. "Allies continue to assess the overall situation and to consult on the way forward."

She said about 10,000 troops, including Americans, are in Afghanistan.

Those levels are expected to stay roughly the same until after May, but the plan beyond that is not clear, the Nato source said.

Kabul and some foreign governments and agencies said the Taliban has failed to meet the conditions, which the Taliban denies.

The administration of Joe Biden, who replaced Mr Trump on January 20, launched a review of the peace agreement.

A Pentagon spokesman said the Taliban have not met their commitments, but Washington remained committed to the process and had not decided on future troop levels.

A State Department representative said Mr Biden was committed to bringing a "responsible end to the 'forever wars' … while also protecting Americans from terrorist and other threats".

Rising concern

The Taliban have become increasingly concerned in recent weeks about the possibility that Washington might change aspects of the agreement and keep troops in the country beyond May, two Taliban sources said.

"We conveyed our apprehensions, but they assured us of honouring and acting on the Doha accord. What's going on, on the ground in Afghanistan, is showing something else. And that's why we decided to send our delegations to take our allies into confidence," said a Taliban leader in Doha.

A Taliban delegation this week visited Iran and Russia, and the leader said they were contacting China.

Although informal meetings have been taking place between negotiators in Doha, progress has stalled in recent weeks after an almost one-month break, according to negotiators and diplomats.

Taliban spokesman Zabihullah Mujahid said the insurgents remained committed to the peace process.

"No doubt that if the Doha deal is not implemented there will be consequences, and the blame will be upon that side which does not honour the deal," he said.

"Our expectations are also that Nato will think to end this war and avoid more excuses for prolonging the war in Afghanistan."

Nato and Washington will have a challenge getting the Taliban to agree to an extension beyond May.

If the situation remains unclear, the Taliban may increase attacks, possibly once again on international forces, said Ashley Jackson, co-director of the Centre for the Study of Armed Groups at the British think tank the Overseas Development Institute.

The lack of a resolution "gives voice to spoilers inside the Taliban who never believed the US would leave willingly, and who have pushed for a ratcheting up of attacks even after the US-Taliban deal was agreed", she said.

A meeting of Nato defence ministers in February will be a chance for the newly empowered alliance to determine how the process would be shaped, said one source, a senior European diplomat.

"With the new administration coming in there will be a more cooperative result, Nato countries will have a say."

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The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

T20 World Cup Qualifier

Final: Netherlands beat PNG by seven wickets

Qualified teams

1. Netherlands
2. PNG
3. Ireland
4. Namibia
5. Scotland
6. Oman

T20 World Cup 2020, Australia

Group A: Sri Lanka, PNG, Ireland, Oman
Group B: Bangladesh, Netherlands, Namibia, Scotland

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Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.

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Director: Rupert Wyatt

Rating: 3/5

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Directors: Avinash Arun, Prosit Roy 

Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong

Rating: 4.5/5

Why are you, you?

Why are you, you?
From this question, a new beginning.
From this question, a new destiny.
For you are a world, and a meeting of worlds.
Our dream is to unite that which has been
separated by history.
To return the many to the one.
A great story unites us all,
beyond colour and creed and gender.
The lightning flash of art
And the music of the heart.
We reflect all cultures, all ways.
We are a twenty first century wonder.
Universal ideals, visions of art and truth.
Now is the turning point of cultures and hopes.
Come with questions, leave with visions.
We are the link between the past and the future.
Here, through art, new possibilities are born. And
new answers are given wings.

Why are you, you?
Because we are mirrors of each other.
Because together we create new worlds.
Together we are more powerful than we know.
We connect, we inspire, we multiply illuminations
with the unique light of art.

 Ben Okri,

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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.”

Uefa Nations League

League A:
Germany, Portugal, Belgium, Spain, France, England, Switzerland, Italy, Poland, Iceland, Croatia, Netherlands

League B:
Austria, Wales, Russia, Slovakia, Sweden, Ukraine, Republic of Ireland, Bosnia-Herzegovina, Northern Ireland, Denmark, Czech Republic, Turkey

League C:
Hungary, Romania, Scotland, Slovenia, Greece, Serbia, Albania, Norway, Montenegro, Israel, Bulgaria, Finland, Cyprus, Estonia, Lithuania

League D:
Azerbaijan, Macedonia, Belarus, Georgia, Armenia, Latvia, Faroe Islands, Luxembourg, Kazakhstan, Moldova, Liechtenstein, Malta, Andorra, Kosovo, San Marino, Gibraltar

THE BIO

Born: Mukalla, Yemen, 1979

Education: UAE University, Al Ain

Family: Married with two daughters: Asayel, 7, and Sara, 6

Favourite piece of music: Horse Dance by Naseer Shamma

Favourite book: Science and geology

Favourite place to travel to: Washington DC

Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.