An unmistakable symbol of a growing strategic partnership



The French military base that Nicolas Sarkozy inaugurated yesterday in Abu Dhabi is overshadowing other, softer dimensions of the French presence in the UAE.
The base, known as Camp Peace, stands out as the best evidence of the elevation of UAE-French relations to an enduring strategic partnership.
The three parts of the base - the navy facility at Mina Zayed Port, the air force base at Al Dhafra and the training camp for ground forces at a location yet to be disclosed - will house several hundred troops, mostly on a rotating basis, and host visiting ships and Rafale jet fighters, the technological jewel of the French air force.
The purpose of the three facilities is mainly logistical and administrative. Since French forces are deployed in the Indian Ocean and Afghanistan, a forward base in the UAE helps France - a country with a history of projecting force - support its operations in these theatres. But they will also promote better and more frequent interaction, including joint exercises, with the UAE armed forces and help build a special relationship between the two militaries.
In itself, the French base will not alter the existing balance of power in the Gulf. Iran still fields the largest military in the neighbourhood, and is making a substantial investment in its unconventional and missile capabilities. The Gulf states continue to acquire hi-tech weaponry and modernise their forces, spending together 7.5 times as much as Iran on defence. And with large bases in Qatar, Bahrain, Kuwait and the UAE, the US remains the most powerful external actor in the region - certainly the only one able to defend its Arab allies on its own.
Mr Sarkozy was adamant that the decision to open the base was not motivated by a single set of threats but rather derived from the growing importance of the Gulf as a global security concern. His comments were meant to assuage Iranian anxieties that foreign military bases in the Gulf are aimed at Iran. But it is undeniable that Iranian sabre-rattling in recent years and the sense that the US security umbrella has lost credibility following the Iraq war have prompted the Gulf states to further internationalise their security and seek special ties with interested major powers.
Indeed, it is more useful to think of the French venture as adding a layer of international protection to the existing security architecture.
France and the UAE are linked by a defence commitment that requires France to help the Emirates, but these bilateral obligations complement rather than contradict a western and Arab consensus about maintaining the status quo in the Gulf.
According to French officials, the Abu Dhabi naval base will not have a primary role in fighting piracy, at least for the moment. The French base in Djibouti, which is closer to the Gulf of Aden and the Somali coast and better equipped, will continue to fulfil this task.
But maritime security is a major concern for the UAE. The Strait of Hormuz, through which 20 per cent of the global crude oil supply circulates, remains the economic lifeline of the Gulf states and would be vulnerable to hostile action in the case of a showdown with Iran.
The role of the French base will evolve and probably expand as the security environment in the Gulf changes.
For the moment, it is better to think of it as the cherry on the cake of an ambitious and multi-dimensional French effort in the UAE rather than a decisive moment for Gulf security.
ehokayem@thenational.ae

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COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
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RedCrow Intelligence Company Profile

Started: 2016

Founders: Hussein Nasser Eddin, Laila Akel, Tayeb Akel 

Based: Ramallah, Palestine

Sector: Technology, Security

# of staff: 13

Investment: $745,000

Investors: Palestine’s Ibtikar Fund, Abu Dhabi’s Gothams and angel investors

Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
Abu Dhabi World Pro 2019 remaining schedule:

Wednesday April 24: Abu Dhabi World Professional Jiu-Jitsu Championship, 11am-6pm

Thursday April 25:  Abu Dhabi World Professional Jiu-Jitsu Championship, 11am-5pm

Friday April 26: Finals, 3-6pm

Saturday April 27: Awards ceremony, 4pm and 8pm

Key changes

Commission caps

For life insurance products with a savings component, Peter Hodgins of Clyde & Co said different caps apply to the saving and protection elements:

• For the saving component, a cap of 4.5 per cent of the annualised premium per year (which may not exceed 90 per cent of the annualised premium over the policy term). 

• On the protection component, there is a cap  of 10 per cent of the annualised premium per year (which may not exceed 160 per cent of the annualised premium over the policy term).

• Indemnity commission, the amount of commission that can be advanced to a product salesperson, can be 50 per cent of the annualised premium for the first year or 50 per cent of the total commissions on the policy calculated. 

• The remaining commission after deduction of the indemnity commission is paid equally over the premium payment term.

• For pure protection products, which only offer a life insurance component, the maximum commission will be 10 per cent of the annualised premium multiplied by the length of the policy in years.

Disclosure

Customers must now be provided with a full illustration of the product they are buying to ensure they understand the potential returns on savings products as well as the effects of any charges. There is also a “free-look” period of 30 days, where insurers must provide a full refund if the buyer wishes to cancel the policy.

“The illustration should provide for at least two scenarios to illustrate the performance of the product,” said Mr Hodgins. “All illustrations are required to be signed by the customer.”

Another illustration must outline surrender charges to ensure they understand the costs of exiting a fixed-term product early.

Illustrations must also be kept updatedand insurers must provide information on the top five investment funds available annually, including at least five years' performance data.

“This may be segregated based on the risk appetite of the customer (in which case, the top five funds for each segment must be provided),” said Mr Hodgins.

Product providers must also disclose the ratio of protection benefit to savings benefits. If a protection benefit ratio is less than 10 per cent "the product must carry a warning stating that it has limited or no protection benefit" Mr Hodgins added.