Leon Panetta,the US defence secretary, says India and the US needs to continue to engage with Pakistan despite differences to ensure peace in South Asia.
Leon Panetta,the US defence secretary, says India and the US needs to continue to engage with Pakistan despite differences to ensure peace in South Asia.
Leon Panetta,the US defence secretary, says India and the US needs to continue to engage with Pakistan despite differences to ensure peace in South Asia.
Leon Panetta,the US defence secretary, says India and the US needs to continue to engage with Pakistan despite differences to ensure peace in South Asia.

Panetta calls for US and India to overcome 'deep differences' with Pakistan


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NEW DELHI // The United States and India must overcome deep differences with Pakistan to bolster peace and security in South Asia, the US defence secretary, Leon Panetta, told a conference in New Delhi yesterday.

"Pakistan is a complicated relationship for both of our countries but one that we must work to improve," Mr Pannetta said a speech in New Delhi where he is meeting the country's leaders to discuss China and Afghanistan.

"India and the United States will need to continue to engage Pakistan, overcoming our respective - and often deep - differences with Pakistan to make all of South Asia peaceful and prosperous," Mr Panetta said at the forum organised by the Institute for Defense Studies and Analyses, a policy research group,

Mr Pannetta said a new US strategy sought to "expand our military partnerships and our presence in the arc extending from the Western Pacific and East Asia into the Indian Ocean region and South Asia. Defence cooperation with India is a linchpin in this strategy".

Mr Panetta welcomed steps taken by India and Pakistan to normalise their trade relations, a new focus by the neighbours who are hoping greater commerce can pull them together.

He called for more joint research and production efforts, expanding military exercises and for both India and the US to tackle legal dilemmas posed by space weapons and cyber warfare.

"We can do more to drive the creation of a rules-based order that protects our common interests in new areas like cyber security and space. We need to develop rules of the road in these domains to help confront dangerous activities by states and non-state actors alike," he said.

Mr Panetta said the Pentagon would seek to ease US rules on the sharing of defence technology with India,

Mr Panetta also met with Indian leaders yesterday and Tuesday and said he urged them to provide additional support to Afghanistan, including trade, reconstruction and assistance for the Afghan security forces.

The US is hoping that India can play a more robust role in the war effort, particularly in the training of Afghan forces, as the number of US and Nato troops in Afghanistan continues to decline over the next year.

In the past, India has cautiously helped the Afghan army, partly to avoid offending Pakistan or being drawn into Afghan security affairs.

India assisted Kabul mostly with economic and development aid and has helped build up the Afghan security forces by training Afghan police officers.

Training for Afghan soldiers extended to individual army officers who attended a multination course at the National Defence College in Delhi. There was no organised training of Afghan national army soldiers at Indian defence schools, but Afghan army soldiers have been attending courses at Indian military academies over the past few years.

Mr Panetta also met with the Indian defence minister, ALASKA Antony, yesterday and discussed increased defence trade and plans to conduct military exercises together. America's defence ties with India have grown steadily since about 2000, including a substantial increase in arms sales that now total more than US$8.5 billion (Dh31.2bn) over the last 11 years.

Deputy Defense Secretary Ashton Carter will meet Indian leaders in an effort "to streamline our bureaucratic processes and make our defence trade more simple, responsive, and effective," Mr Panetta said in the speech at the conference

Changing US regulations on transfers "will be hard," Mr Panetta said. "But that's the nature of the democratic systems that we share."

Mr Panetta also said US-India ties will move beyond a seller-buyer relationship to "substantial co-production and, eventually, high-technology joint research and development" of weapons.

The remarks were a nod to India's irritation over controls on the transfer of US military technology at a time when the Obama administration is seeking a greater role for India in the Asia-Pacific region, including an enhanced presence in Afghanistan. While ties with India have strengthened since 2001, when the US lifted sanctions placed in the aftermath of India's 1998 nuclear tests, Indian officials have bristled at the US curbs on defence equipment.

Mr Panetta's visit here comes as US tensions with Pakistan, India's archrival, continue to fray, strained by persistent CIA drone attacks against insurgents inside Pakistan's borders. Mr Panetta's speech struck a conciliatory tone but also acknowledged the rocky relations with Pakistan.

He confirmed that the US had targeted a senior Al Qaeda figure in Pakistan.

"We had a strike yesterday that hit another deputy leader," Mr Panetta said in a reference to the killing of the group's number two Abu Yahya Al Libi. The death of Libi was announced by the US on Tuesday.

* Associated Press, Bloomberg and Agence France-Presse

Company profile

Name: Oulo.com

Founder: Kamal Nazha

Based: Dubai

Founded: 2020

Number of employees: 5

Sector: Technology

Funding: $450,000

World record transfers

1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
4. Cristiano Ronaldo - to Real Madrid in 2009/10 - €94m
5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
6. Neymar - to Barcelona in 2013/14 - €88.2m
7. Romelu Lukaku - to Manchester United in 2017/18 - €84.7m
8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
9. Angel di Maria - to Manchester United in 2014/15 - €75m
10. James Rodriguez - to Real Madrid in 2014/15 - €75m

Feeding the thousands for iftar

Six industrial scale vats of 500litres each are used to cook the kanji or broth 

Each vat contains kanji or porridge to feed 1,000 people

The rice porridge is poured into a 500ml plastic box

350 plastic tubs are placed in one container trolley

Each aluminium container trolley weighing 300kg is unloaded by a small crane fitted on a truck

Volunteers offer workers a lifeline

Community volunteers have swung into action delivering food packages and toiletries to the men.

When provisions are distributed, the men line up in long queues for packets of rice, flour, sugar, salt, pulses, milk, biscuits, shaving kits, soap and telecom cards.

Volunteers from St Mary’s Catholic Church said some workers came to the church to pray for their families and ask for assistance.

Boxes packed with essential food items were distributed to workers in the Dubai Investments Park and Ras Al Khaimah camps last week. Workers at the Sonapur camp asked for Dh1,600 towards their gas bill.

“Especially in this year of tolerance we consider ourselves privileged to be able to lend a helping hand to our needy brothers in the Actco camp," Father Lennie Connully, parish priest of St Mary’s.

Workers spoke of their helplessness, seeing children’s marriages cancelled because of lack of money going home. Others told of their misery of being unable to return home when a parent died.

“More than daily food, they are worried about not sending money home for their family,” said Kusum Dutta, a volunteer who works with the Indian consulate.

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Al Mrzab Restaurant

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Profile of Hala Insurance

Date Started: September 2018

Founders: Walid and Karim Dib

Based: Abu Dhabi

Employees: Nine

Amount raised: $1.2 million

Funders: Oman Technology Fund, AB Accelerator, 500 Startups, private backers

 

BUNDESLIGA FIXTURES

Saturday, May 16 (kick-offs UAE time)

Borussia Dortmund v Schalke (4.30pm) 
RB Leipzig v Freiburg (4.30pm) 
Hoffenheim v Hertha Berlin (4.30pm) 
Fortuna Dusseldorf v Paderborn  (4.30pm) 
Augsburg v Wolfsburg (4.30pm) 
Eintracht Frankfurt v Borussia Monchengladbach (7.30pm)

Sunday, May 17

Cologne v Mainz (4.30pm),
Union Berlin v Bayern Munich (7pm)

Monday, May 18

Werder Bremen v Bayer Leverkusen (9.30pm)

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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.”

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Power: 180hp at 5,500rpm

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Transmission: 5-speed sequential auto

Price: From Dh139,995

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MATCH INFO

Chelsea 3 (Abraham 11', 17', 74')

Luton Town 1 (Clark 30')

Man of the match Abraham (Chelsea)

Dubai Women's Tour teams

Agolico BMC
Andy Schleck Cycles-Immo Losch
Aromitalia Basso Bikes Vaiano
Cogeas Mettler Look
Doltcini-Van Eyck Sport
Hitec Products – Birk Sport 
Kazakhstan National Team
Kuwait Cycling Team
Macogep Tornatech Girondins de Bordeaux
Minsk Cycling Club 
Pannonia Regional Team (Fehérvár)
Team Auvergne-Rhône-Alpes
Team Ciclotel
UAE Women’s Team
Under 23 Kazakhstan Team
Wheel Divas Cycling Team

Results

2pm: Maiden (PA) Dh 40,000 (Dirt) 1,200m, Winner: AF Thayer, Tadhg O’Shea (jockey), Ernst Oertel (trainer).

2.30pm: Maiden (PA) Dh 40,000 (D) 1,200m, Winner: AF Sahwa, Nathan Crosse, Mohamed Ramadan.

3pm: Handicap (PA) Dh 40,000 (D) 1,000m, Winner: AF Thobor, Szczepan Mazur, Ernst Oertel.

3.30pm: Handicap (PA) Dh 40,000 (D) 2,000m, Winner: AF Mezmar, Szczepan Mazur, Ernst Oertel.

4pm: Sheikh Hamdan bin Rashid Al Maktoum Cup presented by Longines (TB) Dh 200,000 (D) 1,700m, Winner: Galvanize, Nathan Cross, Doug Watson.

4.30pm: Handicap (PA) Dh 40,000 (D) 1,700m, Winner: Ajaj, Bernardo Pinheiro, Mohamed Daggash.

Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)