WASHINGTON // US President Barack Obama ordered all 33,000 US surge troops home from Afghanistan by next summer and declared the beginning of the end of the war, vowing to turn to nation building at home.
Video:US to withdraw 10,000 troops
Last Updated: June 23, 2011 UAE
Obama announces plans to withdraw 10,000 U.S. troops from Afghanistan by the end of the year.
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In a watershed moment for American foreign policy, Mr Obama also significantly curtailed US war aims, saying Washington would no longer try to build a "perfect" Afghanistan from a nation traumatised by decades of war.
"Tonight, we take comfort in knowing that the tide of war is receding," Mr Obama said on Wednesday in a 13-minute prime time speech at a time of rising fatigue over costly foreign wars among Americans ground down by deep economic insecurity.
"Even as there will be dark days ahead in Afghanistan, the light of a secure peace can be seen in the distance. These long wars will come to a responsible end."
The president argued US forces had made large strides towards the objectives of the troop surge strategy he ordered in December 2009 by reversing Taliban momentum, crushing Al Qaeda and training new Afghan forces.
But he ultimately rejected appeals from the Pentagon for a slower drawdown to safeguard gains against the Taliban, and his decision will be seen as a political defeat for the US commander in Afghanistan, Gen David Petraeus.
The president said he would, as promised, begin the US withdrawal this July and that 10,000 of the more than 30,000 troops he committed to the escalation of the conflict would be home this year.
A further 23,000 surge troops will be withdrawn by next summer, and more yet-to-be announced drawdowns will continue, until Afghan forces assume security responsibility in 2014.
"This is the beginning - but not the end - of our effort to wind down this war," Mr Obama said.
However, despite Mr Obama's stirring words, it is possible that the Taliban - which dismissed the announced withdrawal as a "symbolic step" - will be emboldened by signs of an accelerated US exit from the conflict.
More than 1,600 US soldiers have died in Afghanistan since the US invasion after the September 11 attacks, including at least 187 this year alone.
Despite Pentagon appeals for a more modest drawdown, the outgoing defence secretary, Robert Gates, said he backed the plan, adding that it "provides our commanders with enough resources, time and, perhaps most importantly, flexibility to bring the surge to a successful conclusion".
The president's speech came as domestic questions mount over the purpose of the war, following the killing Osama bin Laden last month, and as Washington backs fragile Afghan reconciliation talks with the Taliban.
The US leader said he believed progress could be made with the talks "in part because of our military effort", and pledged America would back initiatives "that reconcile the Afghan people, including the Taliban".
But despite the drawdowns, there will still be more than 65,000 troops in Afghanistan when Obama seeks a second term in November 2012 elections.
Turning to Al Qaeda, Mr Obama said documents seized from bin Laden's compound in Pakistan showed the organisation was under "enormous strain".
One official said the US operation against Al Qaeda in Afghanistan and Pakistan's tribal regions had "exceeded our expectations," saying 20 of the group's top 30 leaders had been killed in the last year.
With US-Pakistan ties still raw after the bin Laden raid, Mr Obama warned he would insist Islamabad keep its commitments to fight the "cancer" of violent extremism.
Mr Obama's plans drew a mixed reaction.
The Nato secretary general, Anders Fogh Rasmussen, said the partial withdrawal was a "natural result" of progress on the ground.
"We can see the tide is turning. The Taliban are under pressure. The Afghan security forces are getting stronger every day. And the transition to Afghan security lead is on track to be completed in 2014," he said.
But the hawkish Republican senator John McCain said Mr Obama was taking an "unnecessary risk" and noted Gen Petraeus and Mr Gates had recommended a slower withdrawal.
The Republican presidential candidate Mitt Romney suggested Mr Obama's motivation was political.
"We all want our troops to come home as soon as possible, but we shouldn't adhere to an arbitrary timetable on the withdrawal of our troops from Afghanistan," he said.
Mr Obama placed the Afghan mission in the context of his wider foreign policy and war strategy, arguing he has drawn down 100,000 troops from Iraq and will oversee a full withdrawal by the end of this year.
He also said a Nato summit to review progress on Afghanistan will take place in Chicago in May 2012, alongside the G8 summit of industrialised nations.
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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
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
MATCH INFO
Barcelona 2
Suarez (10'), Messi (52')
Real Madrid 2
Ronaldo (14'), Bale (72')
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
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How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
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- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
The Settlers
Director: Louis Theroux
Starring: Daniella Weiss, Ari Abramowitz
Rating: 5/5
Dust and sand storms compared
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- Particle size: Larger, heavier sand grains
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The specs
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Engine: 6.2-litre V8
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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.”
The bio
Studied up to grade 12 in Vatanappally, a village in India’s southern Thrissur district
Was a middle distance state athletics champion in school
Enjoys driving to Fujairah and Ras Al Khaimah with family
His dream is to continue working as a social worker and help people
Has seven diaries in which he has jotted down notes about his work and money he earned
Keeps the diaries in his car to remember his journey in the Emirates
Indoor cricket in a nutshell
Indoor Cricket World Cup – Sep 16-20, Insportz, Dubai
16 Indoor cricket matches are 16 overs per side
8 There are eight players per team
9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.
5 Five runs are deducted from the score when a wickets falls
4 Batsmen bat in pairs, facing four overs per partnership
Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.
Zones
A Front net, behind the striker and wicketkeeper: 0 runs
B Side nets, between the striker and halfway down the pitch: 1 run
C Side nets between halfway and the bowlers end: 2 runs
D Back net: 4 runs on the bounce, 6 runs on the full
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
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
The 12 Syrian entities delisted by UK
Ministry of Interior
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Military Intelligence Directorate
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General Organisation of Radio and TV
Al Watan newspaper
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