epa06366478 A general view of the foreign ministers meeting ahead of the 38th Gulf Cooperation Council (GCC) Summit, at Bayan palace in Kuwait City, Kuwait, 04 December 2017. Gulf Cooperation Council (GCC) Foreign Ministers held their 144th meeting ahead of the 38th Summit on 05 and December.  EPA/NOUFAL IBRAHIM
A general view of the foreign ministers meeting ahead of the 38th Gulf Cooperation Council (GCC) Summit in 2017. EPA

EXCLUSIVE: US plans to host GCC summit in October



The United States plans to host a summit for the Gulf Co-operation Council and plans are in place to hold the meeting in mid October.

High level sources told The National that the summit would include all GCC members, as well as Egypt and Jordan.

The agenda being discussed is primarily focused on security co-operation including maritime navigation and ballistic missile threats, counter-aggression work mainly related to Iran and efforts to counter extremism.

Abdel Aziz Aluwaisheg, the GCC's Assistant Secretary-General for Political and Negotiation Affairs, told reporters in Washington on Friday: "The timing of the summit and the agenda are still being discussed but the idea of the summit is alive and well."

Mr Aluwaisheg said the emphasis was on "preparatory work and meetings of the working groups" from the GCC and the US.

Officials "would meet over the next few weeks to generate the momentum and [to discuss] reasonable outcomes for the summit".

If such discussions were productive then the summit will most likely happen, he said, but if they were not "then there is nothing to discuss".

The Reuters news agency reported that the US government was pushing ahead with efforts to create to create a new security and political alliance with the Gulf states.

The White House wants to see more co-operation between the countries on missile defence, military training, counter-terrorism and other issues such as strengthening regional economic and diplomatic ties, four sources said.

The plan to forge what officials in the White House and Middle East have called an "Arab Nato" will be likely to raise tensions between the United States and Iran, two countries increasingly at odds since Donald Trump took office as US president in January 2017.

The US's hope is that the effort, tentatively known as the Middle East Strategic Alliance (Mesa), might be discussed at the summit, several sources said.

The White House confirmed it was working on the concept of the alliance with "our regional partners now and have been for several months".

"Mesa will serve as a bulwark against Iranian aggression, terrorism, extremism, and will bring stability to the Middle East," an official for the White House's National Security Council said.

Initially, the US was hoping to convene the meeting at Camp David in May, but scheduling problems and the US president's focus on North Korea forced a change in plans.

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Read more:

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Saudi Arabia and Kuwait to form co-operative council

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Similar initiatives by earlier US administrations to develop a more formal alliance with Gulf and Arab allies have failed.

It is unclear how the alliance could counter Tehran, but the US and its Gulf allies have joint interests in the conflicts in Yemen and Syria as well as defending shipping lanes through which much of the world's oil supplies are shipped.

Washington, Riyadh and Abu Dhabi accuse Iran of destabilsing the region, fomenting unrest in some Arab countries through proxy groups.

The Qatar crisis, however, will not be part of the October meeting's agenda, two high level sources told The National. They said that Washington sees the crisis is an inter-GCC dispute where Kuwait leads mediation.

Asked by The National about the Qatar crisis and the summit's agenda, Mr Aluwaisheg said: "In the GCC meeting of December 2017 there was an agreement to keep the mediation in a separate parallel track led by the Emir of Kuwait and that would continue to be the case."

Everything else, the GCC official said, is "business as usual and runs on a separate track".

Star Wars: Episode I – The Phantom Menace

Developer: Big Ape Productions
Publisher: LucasArts
Consoles: PC, PlayStation
Rating: 2/5

THE SPECS

Battery: 60kW lithium-ion phosphate
Power: Up to 201bhp
0 to 100kph: 7.3 seconds
Range: 418km
Price: From Dh149,900
Available: Now

Essentials

The flights

Etihad (etihad.ae) and flydubai (flydubai.com) fly direct to Baku three times a week from Dh1,250 return, including taxes. 
 

The stay

A seven-night “Fundamental Detox” programme at the Chenot Palace (chenotpalace.com/en) costs from €3,000 (Dh13,197) per person, including taxes, accommodation, 3 medical consultations, 2 nutritional consultations, a detox diet, a body composition analysis, a bio-energetic check-up, four Chenot bio-energetic treatments, six Chenot energetic massages, six hydro-aromatherapy treatments, six phyto-mud treatments, six hydro-jet treatments and access to the gym, indoor pool, sauna and steam room. Additional tests and treatments cost extra.

if you go

The flights

Direct flights from the UAE to the Nepalese capital, Kathmandu, are available with Air Arabia, (www.airarabia.com) Fly Dubai (www.flydubai.com) or Etihad (www.etihad.com) from Dh1,200 return including taxes. The trek described here started from Jomson, but there are many other start and end point variations depending on how you tailor your trek. To get to Jomson from Kathmandu you must first fly to the lake-side resort town of Pokhara with either Buddha Air (www.buddhaair.com) or Yeti Airlines (www.yetiairlines.com). Both charge around US$240 (Dh880) return. From Pokhara there are early morning flights to Jomson with Yeti Airlines or Simrik Airlines (www.simrikairlines.com) for around US$220 (Dh800) return. 

The trek

Restricted area permits (US$500 per person) are required for trekking in the Upper Mustang area. The challenging Meso Kanto pass between Tilcho Lake and Jomson should not be attempted by those without a lot of mountain experience and a good support team. An excellent trekking company with good knowledge of Upper Mustang, the Annaurpuna Circuit and Tilcho Lake area and who can help organise a version of the trek described here is the Nepal-UK run Snow Cat Travel (www.snowcattravel.com). Prices vary widely depending on accommodation types and the level of assistance required. 

Milestones on the road to union

1970

October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar. 

December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.

1971

March 1:  Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.

July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.

July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.

August 6:  The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.

August 15: Bahrain becomes independent.

September 3: Qatar becomes independent.

November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.

November 29:  At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.

November 30: Despite  a power sharing agreement, Tehran takes full control of Abu Musa. 

November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties

December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.

December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.

December 9: UAE joins the United Nations.

What is tokenisation?

Tokenisation refers to the issuance of a blockchain token, which represents a virtually tradable real, tangible asset. A tokenised asset is easily transferable, offers good liquidity, returns and is easily traded on the secondary markets. 

Confirmed bouts (more to be added)

Cory Sandhagen v Umar Nurmagomedov
Nick Diaz v Vicente Luque
Michael Chiesa v Tony Ferguson
Deiveson Figueiredo v Marlon Vera
Mackenzie Dern v Loopy Godinez

Tickets for the August 3 Fight Night, held in partnership with the Department of Culture and Tourism Abu Dhabi, went on sale earlier this month, through www.etihadarena.ae and www.ticketmaster.ae.

The Details

Kabir Singh

Produced by: Cinestaan Studios, T-Series

Directed by: Sandeep Reddy Vanga

Starring: Shahid Kapoor, Kiara Advani, Suresh Oberoi, Soham Majumdar, Arjun Pahwa

Rating: 2.5/5 

UAE currency: the story behind the money in your pockets
COMPANY PROFILE

Company: Eco Way
Started: December 2023
Founder: Ivan Kroshnyi
Based: Dubai, UAE
Industry: Electric vehicles
Investors: Bootstrapped with undisclosed funding. Looking to raise funds from outside

WHAT IS THE LICENSING PROCESS FOR VARA?

Vara will cater to three categories of companies in Dubai (except the DIFC):

Category A: Minimum viable product (MVP) applicants that are currently in the process of securing an MVP licence: This is a three-stage process starting with [1] a provisional permit, graduating to [2] preparatory licence and concluding with [3] operational licence. Applicants that are already in the MVP process will be advised by Vara to either continue within the MVP framework or be transitioned to the full market product licensing process.

Category B: Existing legacy virtual asset service providers prior to February 7, 2023, which are required to come under Vara supervision. All operating service proviers in Dubai (excluding the DIFC) fall under Vara’s supervision.

Category C: New applicants seeking a Vara licence or existing applicants adding new activities. All applicants that do not fall under Category A or B can begin the application process through their current or prospective commercial licensor — the DET or Free Zone Authority — or directly through Vara in the instance that they have yet to determine the commercial operating zone in Dubai. 

Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.