Demonstrators dance on Friday during a protest marking two years since the start of the uprising against the Assad regime.
Demonstrators dance on Friday during a protest marking two years since the start of the uprising against the Assad regime.
Demonstrators dance on Friday during a protest marking two years since the start of the uprising against the Assad regime.
Demonstrators dance on Friday during a protest marking two years since the start of the uprising against the Assad regime.

EU rejects bid to lift Syrian arms ban


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LONDON // Britain and France yesterday failed to persuade European Union governments to lift an arms embargo that is preventing a supply of weapons to Syria's rebels.

The deadlock came as protests were held across the country to mark the second anniversary of the Syrian uprising and amid concerns that rebels are struggling to make a breakthrough against a Syrian army supplied by Russia and Iran.

European governments want to support rebels against Syrian President Bashar Al Assad but fear a flow of arms could worsen the bloodshed in a conflict that has already claimed 70,000 lives. Many expressed fears at an EU summit in Brussels yesterday that allowing arms to flow to the opposition could lead to weapons falling into the wrong hands - especially Islamist militants who have become an increasingly powerful force.

EU foreign ministers will now assess the EU arms embargo next week when they meet in Dublin.

French President Francois Hollande, backed by British Prime Minister David Cameron, pressed for the embargo to be lifted, saying Europe could not allow the Syrian people to be massacred.

The coalition "needs to have the means to defend the areas that have been liberated. What he is doing is committing a crime against his own people," Mr Hollande said, referring to Mr Al Assad. "It has been two years of a terrible situation and the number of victims is rising daily."

Mr Cameron said the embargo favoured Mr Al Assad's regime and rejected the argument that weapons could fall into "the wrong hands".

By stepping up their support for the opposition, Britain, along with the US and France and their Gulf allies would be in a better position to "shape the opposition, and to make sure that it is those parts of the opposition that support a democratic and pluralistic Syria … getting our help and getting our assistance", Mr Cameron said.

Saudi Arabia and Qatar are widely believed to be providing weapons to the rebels.

German Chancellor Angela Merkel, a leading opponent of lifting the arms embargo, said there was a danger that Mr Al Assad's allies Russia and Iran could step up arms supplies to his government if the EU lifted its restrictions. Just because Britain and France now wanted to drop the ban, that does not mean 25 other states must follow, she said in Brussels. "That will not be the case." "Others have, with, in my view, very good reasons ... pointed to the fact that Iran and also Russia are only waiting for a signal to export arms [and] that one must also be aware of the fragile situation in Lebanon and what that means for the arming of Hizbollah," she said.

Syria's "intolerable violence" has risen to "point number 1" on the foreign ministers' agenda, Herman Van Rompuy, the European Council president, said yesterday.

Mr Van Rompuy stressed the EU was keen to "develop common positions" rather than see some countries go it alone, as both Britain and France had suggested in recent days.

France and Britain also argue that the threat of supplying weapons to Syria's rebels might add extra pressure on Mr Al Assad to step down from power and make way for a transitional government that would oversee elections, the political solution western powers are pushing for.

Two weeks ago, Britain and the US announced they were stepping up aid to the Syrian opposition to include non-lethal military aid direct to members of the Free Syrian Army, the loose alliance of armed groups battling the Syrian army.

So far, western powers have stopped short of supplying weapons largely out of fear that they will fall into the hands of groups that will eventually use them against western interests in the region. One of the groups fighting the Syrian military, Jabhat Al Nusra, is considered a terrorist group by the US.

The fractious Syrian opposition has also not helped its cause by failing to convince that political leaders outside the country are in control of armed rebels inside Syria.

Britain and France was at forefront of the military intervention on behalf of Libyan rebels that eventually ended with the overthrow and killing of Muammar Qaddafi in 2011.

Demonstrators took to the streets in towns and cities across the country yesterday, including Damascus, Aleppo and Deraa in the south. "Long Live Syria! Down with Bashar Al Assad!" chanted demonstrators in the village of Harra in Deraa, the cradle of the revolt, activists said.

At least 82 people were killed yesterday, 40 of them civilians, according to a preliminary toll released by the Syrian Observatory for Human Rights.

Syria's air force bombed rebel bastions near Damascus, as clashes raged in flashpoints across the country, the UK-based organisation said. Regime forces also resumed an assault on parts of third city Homs, pounding the Old City and Khaldiyeh rebel enclaves in the city centre and the Baba Amr district in the south-west. okarmi@thenational.ae

With additional reporting by Reuters, Associated Press and Agence France-Presse

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Expert input

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“If I had all the money, I would approach Nike and ask them to do my own Air Force 1, that’s one of my dreams.” Yaseen Benchouche

“There’s nothing out there yet that I’d pay an insane amount for, but I’d love to create my own shoe with Tinker Hatfield and Jordan.” Joshua Cox

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UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

'Outclassed in Kuwait'
Taleb Alrefai, 
HBKU Press 

Diriyah%20project%20at%20a%20glance
%3Cp%3E-%20Diriyah%E2%80%99s%201.9km%20King%20Salman%20Boulevard%2C%20a%20Parisian%20Champs-Elysees-inspired%20avenue%2C%20is%20scheduled%20for%20completion%20in%202028%0D%3Cbr%3E-%20The%20Royal%20Diriyah%20Opera%20House%20is%20expected%20to%20be%20completed%20in%20four%20years%0D%3Cbr%3E-%20Diriyah%E2%80%99s%20first%20of%2042%20hotels%2C%20the%20Bab%20Samhan%20hotel%2C%20will%20open%20in%20the%20first%20quarter%20of%202024%0D%3Cbr%3E-%20On%20completion%20in%202030%2C%20the%20Diriyah%20project%20is%20forecast%20to%20accommodate%20more%20than%20100%2C000%20people%0D%3Cbr%3E-%20The%20%2463.2%20billion%20Diriyah%20project%20will%20contribute%20%247.2%20billion%20to%20the%20kingdom%E2%80%99s%20GDP%0D%3Cbr%3E-%20It%20will%20create%20more%20than%20178%2C000%20jobs%20and%20aims%20to%20attract%20more%20than%2050%20million%20visits%20a%20year%0D%3Cbr%3E-%20About%202%2C000%20people%20work%20for%20the%20Diriyah%20Company%2C%20with%20more%20than%2086%20per%20cent%20being%20Saudi%20citizens%0D%3C%2Fp%3E%0A
MATCH INFO

Manchester United 1 (Greenwood 77')

Everton 1 (Lindelof 36' og)

The biog

Favourite book: You Are the Placebo – Making your mind matter, by Dr Joe Dispenza

Hobby: Running and watching Welsh rugby

Travel destination: Cyprus in the summer

Life goals: To be an aspirational and passionate University educator, enjoy life, be healthy and be the best dad possible.

The specs: 2018 Alfa Romeo Stelvio

Price, base: Dh198,300
Engine: 2.0L in-line four-cylinder
Transmission: Eight-speed automatic
Power: 280hp @ 5,250rpm
Torque: 400Nm @ 2,250rpm
Fuel economy, combined: 7L / 100km

Electric scooters: some rules to remember
  • Riders must be 14-years-old or over
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Crime%20Wave
%3Cp%3EHeavyweight%20boxer%20Fury%20revealed%20on%20Sunday%20his%20cousin%20had%20been%20%E2%80%9Cstabbed%20in%20the%20neck%E2%80%9D%20and%20called%20on%20the%20courts%20to%20address%20the%20wave%20of%20more%20sentencing%20of%20offenders.%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3ERico%20Burton%2C%2031%2C%20was%20found%20with%20stab%20wounds%20at%20around%203am%20on%20Sunday%20in%20Goose%20Green%2C%20Altrincham%20and%20subsequently%20died%20of%20his%20injuries.%3C%2Fp%3E%0A%3Cp%3E%26nbsp%3B%E2%80%9CMy%20cousin%20was%20murdered%20last%20night%2C%20stabbed%20in%20the%20neck%20this%20is%20becoming%20ridiculous%20%E2%80%A6%20idiots%20carry%20knives.%20This%20needs%20to%20stop%2C%E2%80%9D%0D%20Fury%20said.%20%E2%80%9CAsap%2C%20UK%20government%20needs%20to%20bring%20higher%20sentencing%20for%20knife%20crime%2C%20it%E2%80%99s%20a%20pandemic%20%26amp%3B%20you%20don%E2%80%99t%20know%20how%20bad%20it%20is%20until%20%5Bit%E2%80%99s%5D%201%20of%20your%20own!%3C%2Fp%3E%0A

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.”

Match info:

Manchester City 2
Sterling (8'), Walker (52')

Newcastle United 1
Yedlin (30')

Kanye%20West
%3Cp%3EYe%20%E2%80%94%20the%20rapper%20formerly%20known%20as%20Kanye%20West%20%E2%80%94%20has%20seen%20his%20net%20worth%20fall%20to%20%24400%20million%20in%20recent%20weeks.%20That%E2%80%99s%20a%20precipitous%20drop%20from%20Bloomberg%E2%80%99s%20estimates%20of%20%246.8%20billion%20at%20the%20end%20of%202021.%3Cbr%3EYe%E2%80%99s%20wealth%20plunged%20after%20business%20partners%2C%20including%20Adidas%2C%20severed%20ties%20with%20him%20on%20the%20back%20of%20anti-Semitic%20remarks%20earlier%20this%20year.%3Cbr%3EWest%E2%80%99s%20present%20net%20worth%20derives%20from%20cash%2C%20his%20music%2C%20real%20estate%20and%20a%20stake%20in%20former%20wife%20Kim%20Kardashian%E2%80%99s%20shapewear%20firm%2C%20Skims.%3C%2Fp%3E%0A
WORLD RECORD FEES FOR GOALKEEPERS

1) Kepa Arrizabalaga, Athletic Bilbao to Chelsea (£72m)

2) Alisson, Roma to Liverpool (£67m)

3) Ederson, Benfica to Manchester City (£35m)

4) Gianluigi Buffon, Parma to Juventus (£33m)

5) Angelo Peruzzi, Inter Milan to Lazio (£15.7m

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

Guide to intelligent investing
Investing success often hinges on discipline and perspective. As markets fluctuate, remember these guiding principles:
  • Stay invested: Time in the market, not timing the market, is critical to long-term gains.
  • Rational thinking: Breathe and avoid emotional decision-making; let logic and planning guide your actions.
  • Strategic patience: Understand why you’re investing and allow time for your strategies to unfold.
 
 
What can victims do?

Always use only regulated platforms

Stop all transactions and communication on suspicion

Save all evidence (screenshots, chat logs, transaction IDs)

Report to local authorities

Warn others to prevent further harm

Courtesy: Crystal Intelligence

The smuggler

Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple. 
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.

Khouli conviction

Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.

For sale

A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.

- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico

- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000

- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950

Libya's Gold

UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves. 

The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.

Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.

A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.

Brief scores:

Toss: Kerala Knights, opted to fielf

Pakhtoons 109-5 (10 ov)

Fletcher 32; Lamichhane 3-17

Kerala Knights 110-2 (7.5 ov)

Morgan 46 not out, Stirling 40