EU foreign policy chief Josep Borrell spoke after the bloc's foreign ministers held talks on Friday. AP
EU foreign policy chief Josep Borrell spoke after the bloc's foreign ministers held talks on Friday. AP
EU foreign policy chief Josep Borrell spoke after the bloc's foreign ministers held talks on Friday. AP
EU foreign policy chief Josep Borrell spoke after the bloc's foreign ministers held talks on Friday. AP

EU plans its return to Kabul as ministers seek leverage with Taliban


Tim Stickings
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The EU wants to restore a diplomatic presence in Kabul if the security situation eases, the bloc’s foreign policy chief has said.

Western embassies were evacuated after the Taliban took control of the Afghan capital, where chaos reigned during the airlift and a terrorist attack killed dozens of people.

Josep Borrell announced after talks between EU foreign ministers on Friday that diplomats hoped to return and work on the ground to help people get out.

The mission would serve as a base for engagement with the Taliban, which the EU sees as necessary to provide humanitarian aid to Afghans.

Brussels is not formally recognising the Taliban, but Mr Borrell said the current “operational engagement” would increase if Europe’s demands are met.

He said the five key demands are preventing terrorism, respecting human rights, forming an inclusive government, permitting humanitarian aid and allowing safe passage out of Afghanistan.

Acknowledging scepticism that the Taliban would meet these demands, he said: “Let’s see. Our engagement will depend on the fulfilment of these conditions.”

He said a co-ordinated approach to evacuations would require a “strong engagement, a strong contact, a close presence”.

“This will be done in a co-ordinated manner through a joint European Union presence in Kabul … if the security conditions are met,” he said.

Humanitarian crisis

Aid agencies have said that Afghanistan is facing a humanitarian catastrophe, with a drought and Covid-19 outbreak adding to the population’s woes.

Filippo Grandi, the head of UN refugee agency UNHCR, estimated that at least half of Afghanistan’s 39 million population need humanitarian help.

“More than four million are displaced by recent and less recent conflict,” Mr Grandi said.

“The already-started collapse of services and the economy is exposing many more to terrible hardship. That’s the humanitarian crisis that is beginning just now. ”

The EU has offered humanitarian aid to Afghanistan, but suspended a separate supply of development aid.

European diplomatic staff were evacuated from Kabul during the airlift, seen here leaving a French military plane near Paris.
European diplomatic staff were evacuated from Kabul during the airlift, seen here leaving a French military plane near Paris.

German Foreign Minister Heiko Maas said the unfreezing of this money would depend on the Taliban’s actions.

Mr Maas signalled that Germany was ready to resume its own diplomatic presence in Kabul if the Taliban live up to promises.

“We have heard many moderate remarks in the past days, but we will measure the Taliban by their actions, not by their words,” he said.

“We want to help avert a looming humanitarian crisis in the coming winter, which is why we have to act fast.”

EU delegation staff were among those evacuated during the two-week airlift from Kabul.

Western countries hope to extract people who were left behind by persuading the Taliban to allow civilian rescue flights from Kabul airport.

The airport was badly damaged during the chaos. Some people who could not get to Kabul have fled for Afghanistan’s borders.

Britain’s diplomatic staff have decamped to Qatar for the time being, after the military airlift ended.

Ambassador Laurie Bristow said after returning on one of the last flights that Britain would re-open the Kabul embassy as soon as it could.

Some countries, such as Russia, China, Iran, Pakistan and Qatar, are keeping their embassies in Kabul open.

ACL Elite (West) - fixtures

Monday, Sept 30

Al Sadd v Esteghlal (8pm)
Persepolis v Pakhtakor (8pm)
Al Wasl v Al Ahli (8pm)
Al Nassr v Al Rayyan (10pm)

Tuesday, Oct 1
Al Hilal v Al Shorta (10pm)
Al Gharafa v Al Ain (10pm)

A State of Passion

Directors: Carol Mansour and Muna Khalidi

Stars: Dr Ghassan Abu-Sittah

Rating: 4/5

MATCH RESULT

Liverpool 4 Brighton and Hove Albion 0
Liverpool: 
Salah (26'), Lovren (40'), Solanke (53'), Robertson (85')    

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

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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.”

25-MAN SQUAD

Goalkeepers: Francis Uzoho, Ikechukwu Ezenwa, Daniel Akpeyi
Defenders: Olaoluwa Aina, Abdullahi Shehu, Chidozie Awaziem, William Ekong, Leon Balogun, Kenneth Omeruo, Jamilu Collins, Semi Ajayi 
Midfielders: John Obi Mikel, Wilfred Ndidi, Oghenekaro Etebo, John Ogu
Forwards: Ahmed Musa, Victor Osimhen, Moses Simon, Henry Onyekuru, Odion Ighalo, Alexander Iwobi, Samuel Kalu, Paul Onuachu, Kelechi Iheanacho, Samuel Chukwueze 

On Standby: Theophilus Afelokhai, Bryan Idowu, Ikouwem Utin, Mikel Agu, Junior Ajayi, Valentine Ozornwafor

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MEDIEVIL%20(1998)
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Specs
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TCL INFO

Teams:
Punjabi Legends 
Owners: Inzamam-ul-Haq and Intizar-ul-Haq; Key player: Misbah-ul-Haq
Pakhtoons Owners: Habib Khan and Tajuddin Khan; Key player: Shahid Afridi
Maratha Arabians Owners: Sohail Khan, Ali Tumbi, Parvez Khan; Key player: Virender Sehwag
Bangla Tigers Owners: Shirajuddin Alam, Yasin Choudhary, Neelesh Bhatnager, Anis and Rizwan Sajan; Key player: TBC
Colombo Lions Owners: Sri Lanka Cricket; Key player: TBC
Kerala Kings Owners: Hussain Adam Ali and Shafi Ul Mulk; Key player: Eoin Morgan

Venue Sharjah Cricket Stadium
Format 10 overs per side, matches last for 90 minutes
Timeline October 25: Around 120 players to be entered into a draft, to be held in Dubai; December 21: Matches start; December 24: Finals

Updated: September 03, 2021, 3:26 PM