The US defence secretary Chuck Hagel is welcomed by the Saudi deputy defence minister Salman bin Sultan at King Abdulaziz International Airport in Jeddah on May 13, 2014. Mandel Ngan / Getty Images
The US defence secretary Chuck Hagel is welcomed by the Saudi deputy defence minister Salman bin Sultan at King Abdulaziz International Airport in Jeddah on May 13, 2014. Mandel Ngan / Getty Images
The US defence secretary Chuck Hagel is welcomed by the Saudi deputy defence minister Salman bin Sultan at King Abdulaziz International Airport in Jeddah on May 13, 2014. Mandel Ngan / Getty Images
The US defence secretary Chuck Hagel is welcomed by the Saudi deputy defence minister Salman bin Sultan at King Abdulaziz International Airport in Jeddah on May 13, 2014. Mandel Ngan / Getty Images

Hagel in Saudi to push for more GCC security cooperation


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New York // The US defence secretary will meet with his GCC counterparts in Jeddah on Wednesday to push for greater regional security coordination before Washington-led negotiations with Tehran enter their final stages this summer.

Chuck Hagel met the Saudi deputy defence minister, Salman bin Sultan, after landing in Jeddah on Tuesday and thanked Saudi leaders for hosting the first US-GCC Strategic Defence Dialogue since 2008, according to Pentagon spokesman Rear Admiral John Kirby.

They discussed “regional threats and challenges including Iran and Syria and the importance of maintaining close cooperation on these and other issues in the region”, Adm Kirby said.

The US administration has been pushing for the GCC countries to cooperate more closely and integrate their missile defences in order to demonstrate to Iran that despite its plans for a strategic shift away from the Middle East to East Asia, Washington is committed to the region’s security.

The common challenges faced in the region cannot be solved without the partnership of the GCC nations, and the summit reflects the US commitment to regional approaches, a defence official told the Pentagon’s news service.

The US president Barack Obama has cleared the way for US military sales to the GCC as a bloc, rather than just to each country bilaterally, which is also meant to reassure Gulf countries angered by Washington’s negotiations with Tehran and the stated US desire to “pivot” its foreign policy focus to East Asia.

But GCC countries prefer to engage with the US bilaterally, in line with their individual interests, which do not necessarily align. The unprecedented rift in the GCC between Qatar on the one hand and Saudi Arabia and the UAE on the other over Doha’s support for the Muslim Brotherhood make the goal of integration more remote.

The Saudi press reported that Qatar’s defence minster would attend Wednesday’s talks, but Qatar’s military attache in Washington had not confirmed this by the time of publication.

Wednesday’s talks will focus on building closer coordination between the US and GCC regarding their approaches to the war in Syria as well as how to help Egypt as it struggles with political transition and economic reform.

Negotiations with Iran over its disputed nuclear programme have also raised fears that the US was not thinking of its traditional allies’ security and that Tehran would get a free hand to pursue destabilising regional policies if a deal was struck.

The US has worked to dispel these fears, culminating in Mr Obama’s talks with Saudi King Abdullah last month near Riyadh. Mr Hagel will bolster the message of reassurance about Washington’s intentions and also address differences over stronger multilateral cooperation at the meeting on Wednesday.

Most of the countries have engaged cautiously with Tehran, and the Iranian foreign minister, Mohammad Javad Zarif, visited the UAE, Kuwait, Qatar and Oman to ease fears following an interim nuclear agreement with world powers that loosened sanctions on Iran.

Ties between Riyadh and its arch rival Tehran have remained strained, but recent signs point toward a softening. On Tuesday, the Saudi foreign minister, Prince Saud Al Faisal, invited Mr Zarif to visit Riyadh.

“This intention to visit has not become a fact ... but any time he sees fit to come, we are willing to receive [Zarif],” Prince Faisal said. “We’ll negotiate with them [Iran], we’ll talk with them, and our hope is that Iran becomes part of the effort to make the region as safe and as prosperous as possible and not become part of the problem.”

Saudi Arabia supports rebels fighting the Iranian-backed regime in Syria, and claims that Iran meddles in Gulf affairs. But Riyadh faces mounting concerns of terrorist blowback from the Syrian war. Saudi authorities recently announced they had dismantled a local cell of the Islamic State of Iraq and the Levant (ISIL), a breakaway faction of Al Qaeda fighting in Syria.

The Saudi invitation does not mean “that everything is over in terms of the issues they have with each other, but it’s a big step in the direction of reconciliation”, Ghanem Nuseibeh, founder of Cornerstone Global Associates, which advises clients on risk in the Middle East, told Bloomberg.

“They know that they need to work together to ensure that their interests don’t go directly against each other.”

tkhan@thenational.ae

MATCH INFO

Rugby World Cup (all times UAE)

Third-place play-off: New Zealand v Wales, Friday, 1pm

Final: England v South Africa, Saturday, 1pm

UAE currency: the story behind the money in your pockets
The specs: 2018 Mercedes-Benz E 300 Cabriolet

Price, base / as tested: Dh275,250 / Dh328,465

Engine: 2.0-litre four-cylinder

Power: 245hp @ 5,500rpm

Torque: 370Nm @ 1,300rpm

Transmission: Nine-speed automatic

Fuel consumption, combined: 7.0L / 100km

Stuck in a job without a pay rise? Here's what to do

Chris Greaves, the managing director of Hays Gulf Region, says those without a pay rise for an extended period must start asking questions – both of themselves and their employer.

“First, are they happy with that or do they want more?” he says. “Job-seeking is a time-consuming, frustrating and long-winded affair so are they prepared to put themselves through that rigmarole? Before they consider that, they must ask their employer what is happening.”

Most employees bring up pay rise queries at their annual performance appraisal and find out what the company has in store for them from a career perspective.

Those with no formal appraisal system, Mr Greaves says, should ask HR or their line manager for an assessment.

“You want to find out how they value your contribution and where your job could go,” he says. “You’ve got to be brave enough to ask some questions and if you don’t like the answers then you have to develop a strategy or change jobs if you are prepared to go through the job-seeking process.”

For those that do reach the salary negotiation with their current employer, Mr Greaves says there is no point in asking for less than 5 per cent.

“However, this can only really have any chance of success if you can identify where you add value to the business (preferably you can put a monetary value on it), or you can point to a sustained contribution above the call of duty or to other achievements you think your employer will value.”

 

Rafael Nadal's record at the MWTC

2009 Finalist

2010 Champion

Jan 2011 Champion

Dec 2011 Semi-finalist

Dec 2012 Did not play

Dec 2013 Semi-finalist

2015 Semi-finalist

Jan 2016 Champion

Dec 2016 Champion

2017 Did not play

 

BMW M5 specs

Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor

Power: 727hp

Torque: 1,000Nm

Transmission: 8-speed auto

Fuel consumption: 10.6L/100km

On sale: Now

Price: From Dh650,000

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.”

if you go

The flights
The closest international airport to the TMB trail is Geneva (just over an hour’s drive from the French ski town of Chamonix where most people start and end the walk). Direct flights from the UAE to Geneva are available with Etihad and Emirates from about Dh2,790 including taxes.

The trek
The Tour du Mont Blanc takes about 10 to 14 days to complete if walked in its entirety, but by using the services of a tour operator such as Raw Travel, a shorter “highlights” version allows you to complete the best of the route in a week, from Dh6,750 per person. The trails are blocked by snow from about late October to early May. Most people walk in July and August, but be warned that trails are often uncomfortably busy at this time and it can be very hot. The prime months are June and September.

 

 

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Desert Warrior

Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

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A Bad Moms Christmas
Dir: John Lucas and Scott Moore
Starring: Mila Kunis, Kathryn Hahn, Kristen Bell, Susan Sarandon, Christine Baranski, Cheryl Hines
Two stars

SERIES INFO

Cricket World Cup League Two
Nepal, Oman, United States tri-series
Tribhuvan University, Kathmandu
 
Fixtures
Wednesday February 5, Oman v Nepal
Thursday, February 6, Oman v United States
Saturday, February 8, United States v Nepal
Sunday, February 9, Oman v Nepal
Tuesday, February 11, Oman v United States
Wednesday, February 12, United States v Nepal

Table
The top three sides advance to the 2022 World Cup Qualifier.
The bottom four sides are relegated to the 2022 World Cup playoff

 1 United States 8 6 2 0 0 12 0.412
2 Scotland 8 4 3 0 1 9 0.139
3 Namibia 7 4 3 0 0 8 0.008
4 Oman 6 4 2 0 0 8 -0.139
5 UAE 7 3 3 0 1 7 -0.004
6 Nepal 0 0 0 0 0 0 0
7 PNG 8 0 8 0 0 0 -0.458

England World Cup squad

Eoin Morgan (capt), Moeen Ali, Jofra Archer, Jonny Bairstow, Jos Buttler (wkt), Tom Curran, Liam Dawson, Liam Plunkett, Adil Rashid, Joe Root, Jason Roy, Ben Stokes, James Vince, Chris Woakes, Mark Wood

The specs

Engine: Dual 180kW and 300kW front and rear motors

Power: 480kW

Torque: 850Nm

Transmission: Single-speed automatic

Price: From Dh359,900 ($98,000)

On sale: Now

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Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

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The Bio

Favourite Emirati dish: I have so many because it has a lot of herbs and vegetables. Harees  (oats with chicken) is one of them

Favourite place to go to: Dubai Mall because it has lots of sports shops.

Her motivation: My performance because I know that whatever I do, if I put the effort in, I’ll get results

During her free time: I like to drink coffee - a latte no sugar and no flavours. I do not like cold drinks

Pet peeve: That with every meal they give you a fries and Pepsi. That is so unhealthy

Advice to anyone who wants to be an ironman: Go for the goal. If you are consistent, you will get there. With the first one, it might not be what they want but they should start and just do it

The specs

Engine: 5.0-litre V8

Power: 480hp at 7,250rpm

Torque: 566Nm at 4,600rpm

Transmission: 10-speed auto

Fuel consumption: L/100km

Price: Dh306,495

On sale: now

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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

MATCH INFO

Juventus 1 (Dybala 45')

Lazio 3 (Alberto 16', Lulic 73', Cataldi 90 4')

Red card: Rodrigo Bentancur (Juventus)