A rebel fighter calls on his comrades during clashes with regime forces in Aleppo, Syria on October 31. Karam Al Masri / AFP Photo
A rebel fighter calls on his comrades during clashes with regime forces in Aleppo, Syria on October 31. Karam Al Masri / AFP Photo
A rebel fighter calls on his comrades during clashes with regime forces in Aleppo, Syria on October 31. Karam Al Masri / AFP Photo
A rebel fighter calls on his comrades during clashes with regime forces in Aleppo, Syria on October 31. Karam Al Masri / AFP Photo

Contradiction at the heart of Obama’s war on ISIL


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NEW YORK // The glaring flaw in the US strategy in Syria — how to attack ISIL extremists in Syria without empowering the Assad regime — has become so clear that even US military planners are publicly voicing concerns.

The US has yet to begin a programme to be based in Saudi Arabia and Turkey that will train and equip 5,000 Syrian rebel fighters drawn from refugee populations over the next year.

Even then, according to recent reports, the new brigades will only be trained to defend territory held by moderate rebels — not go on the offensive against ISIL, let alone the Assad regime.

The White House strategy also leaves out the handful of moderate Syrian rebel groups that have already been vetted and supplied by the US and regional allies with sophisticated weapons such as anti-tank missiles, but with whom the US is reportedly not coordinating attacks or sharing intelligence, according to reports citing Pentagon officials.

How much territory these groups will still control in a year is an open question as Syrian president Bashar Al Assad’s regime has used US-led airstrikes against ISIL to step up its bombing of moderate rebels in Aleppo and Idlib provinces who are also under attack by ISIL and the Nusra Front.

On Saturday, Nusra Front seized the last remaining stronghold of the western-backed Syria Revolutionaries’ Front in Idlib after days of fighting.

The White House has denied that its focus on fighting ISIL was benefiting Damascus. “The policy that we have for Assad is really clear: we believe that he’s lost the legitimacy to lead,” spokesman Josh Earnest told CNN on Friday.

His comments came after US defence secretary Chuck Hagel warned the White House in a memo that success in Syria was being undermined by a failure to clarify its intentions regarding the regime, according to a New York Times report.

Mr Hagel declined to detail the memo, but said “the fighting can go on for years and years to what end?”, and stressed the need to integrate “some longer term strategies and objectives”. He also admitted that “Assad derives some benefit” from the coalition airstrikes.

The US ambiguity and reluctance to initiate a strategy that reduces regime violence against moderate rebels and civilians can be explained in part by a desire to safeguard President Barack Obama’s central foreign policy goal: a deal with Iran over its nuclear programme.

Tehran views the Assad regime as key to its regional influence and is its main backer, along with Russia.

“Until the deadline of the negotiations is over, we are not going to see any significant changes” to US policy in Syria, said Lina Khatib, director of the Carnegie Middle East Center in Beirut.

The US secretary of state John Kerry will meet Iran’s foreign minister for crucial talks in Muscat next week to close what Mr Kerry called “big gaps” ahead of the November 24 deadline.

The fact that the Syrian civil war has turned into a proxy battle between regional powers, with Iran on one side and Saudi Arabia, Turkey and other Arab states on the other, means that even with Tehran and Riyadh engaged in back channel talks about a political solution, an agreement on what would replace the Assad regime could take months or even years to reach.

“I think what is going on now is a process of buying time by the US until it gets a kind of consensus among [stakeholders] in the Syrian conflict,” Ms Khatib said. “Neither Iran nor Saudi can be seen as conceding defeat to the other.”

Mr Obama has been highly sceptical of the benefit of US involvement in Syria, and the narrowly defined parameters of the war on ISIL can be explained by “an aversion to mission creep in terms of the anti-Assad prong of this”, said Michael Hanna, a Middle East policy expert at the Century Foundation in New York.

The lack of help for vetted rebels in Aleppo and Idlib is “mystifying”, Mr Hanna said.

“This wouldn’t necessarily bring us into direct conflict with the regime” and would likely not affect nuclear negotiations, he added.

“It’s as if we are going through the motions to create the appearance of forward engagement.”

The dissent from the Pentagon over Syria came as the United Nation’s Syrian peace envoy, Staffan de Mistura, said his focus was on establishing local truces between moderate rebels and the regime, especially in Aleppo and in Idlib.

The “incremental freeze zone” would allow for a “political process at a local level and then eventually at the national level” Mr de Mistura said.

But local truces that have been established in some areas, particularly Homs, have been little more than camouflage for a rebel surrender and the imposition of terms that the regime has not always honoured.

Rebel leaders say the ceasefires — in tandem with the coalition airstrikes — have been a lifeline for the regime and allowed it to concentrate its tattered forces on more important fronts against rebels in Aleppo and Idlib, Ms Khatib said.

Syrian forces carried out at least 600 airstrikes in Idlib alone in the past week, according to the Syrian Observatory for Human Rights, using barrel bombs and even laser-guided missiles

A ceasefire on these key fronts, however, could be a significant boon for the moderate rebels there, freeing them to fight ISIL exclusively.

“This is why the regime is never going to entertain” any UN-brokered ceasefire plan, even if they allowed rebels to press the fight against ISIL, Mr Hanna said.

“They are more than happy to live with the threat of ISIL to an extent,” he added. “They probably feel quite at ease at the moment in terms of where this is all going.”

tkhan@thenational.ae

* With additional reporting by Reuters

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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.”

WHAT IS A BLACK HOLE?

1. Black holes are objects whose gravity is so strong not even light can escape their pull

2. They can be created when massive stars collapse under their own weight

3. Large black holes can also be formed when smaller ones collide and merge

4. The biggest black holes lurk at the centre of many galaxies, including our own

5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed

Company profile

Company: Eighty6 

Date started: October 2021 

Founders: Abdul Kader Saadi and Anwar Nusseibeh 

Based: Dubai, UAE 

Sector: Hospitality 

Size: 25 employees 

Funding stage: Pre-series A 

Investment: $1 million 

Investors: Seed funding, angel investors  

The Porpoise

By Mark Haddon 

(Penguin Random House)