DAMASCUS // Bashar Al Assad offered Syrians a new constitution yesterday in a speech meant to defuse a national uprising, but ignored demands for immediate democratic reforms and an end to violence, and said his forces would continue to hunt down "saboteurs".
It was the Syrian leader's third public address since an anti-regime uprising began in March, and activists said it was as ineffective as the other two in ending the nation's crisis.
They denounced the speech as "empty promises", and demonstrations broke out in some parts of the country, including a Damascus suburb, immediately after it ended.
In his hour-long televised address, the 45-year-old president said he had met demonstrators and recognised they had legitimate grievances, seeking to draw a line between activists and what he called a "minority" of violent criminals and Islamist terrorists with "medieval" attitudes.
Speaking to a select audience at Damascus University at noon, he said many demands for political reforms had already been fulfilled and more were planned, including new laws governing political parties, local elections and the media.
He said a committee for national dialogue would meet in the next few days to decide on a mechanism for eventual constitutional reform.
"A review of the constitution will be mandatory - some of its articles must be revised or a new constitution drafted to keep up with the changes of the last four decades," Mr Al Assad said.
He said his own preference was that an entirely new constitution be drawn up, but it would be for the national dialogue committee to make that recommendation.
That appeared to suggest Article 8, which guarantees the ruling Baath Party's singular right to hold power, could be scrapped, although such a move was not assured. There was also no mention of a transition to democracy through free and fair elections or any commitment to allow a free press.
Guarantees on these issues have been demanded by opposition activists who say Syria's autocratic system of governance must end.
Mr Al Assad said parliamentary elections would be held by August, "if they are not postponed". He said his reform package should be completed by September.
Dissidents have demanded an immediate end to the violent crackdown on protesters and that all political prisoners be released. Many activists remain in detention despite a recent presidential amnesty.
Mr Al Assad said he would study the matter of prisoner releases, but struck a defiant tone over the use of military forces to put down the uprising.
He said he had been shocked to learn there were 64,000 convicted criminals - enough, he said, to man a complete army - roaming the country.
He said some of these criminals had participated in heinous massacres and torture of members of the security forces.
Mr Al Assad also attacked his critics for working against his reform agenda as part of a foreign-backed conspiracy.
"What is happening today isn't related to reform and development. It is mere vandalism," he said of the uprising. He insisted there could be "no political solution with those who carry guns and kill people".
"Has mayhem brought more job opportunities? Has it improved the general conditions? Has it improved security?" said Mr Al Assad. "There is no reform amid vandalism."
Rights groups claim security units have been involved in widespread killings, including of children, and the abuse of prisoners.
More than 1,400 civilians and about 300 security personnel have been killed since the uprising began, according to rights monitors.
The opposition insists a large number of the security casualties have come from fighting between units loyal to the regime and soldiers who refused to fire on civilians.
During yesterday's speech, which lasted more than an hour, Mr Al Assad acknowledged that blood had been spilt on both sides, civilian and military, but did not give a number of casualties. He also accepted that his sincerity in delivering reforms had been questioned. Yet he insisted that everyone in the country, including his ruling circle, had a firm conviction about the need for change.
"I have had not met a single person opposing reform. Each and every person is enthusiastic about reform," he said.
Dissidents said the speech was a "disappointment, but not a surprise". They said it failed to map out a transition from autocracy or acknowledge the true scale of the problems in the country, although Mr Al Assad did sound a warning about a possible economic collapse.
"This is the same thing we have heard before: talk of committees drawing up draft laws and vague suggestions one thing or another might happen at some stage in the future," said one opposition activist. "No one believes these empty promises any more. It is clear the regime is incapable of reform. It is playing for time."
The activist said protesters would denounce the speech by taking to the streets in larger numbers.
An independent political analyst in Damascus said the speech would not steer the country out of its bloody stalemate. In fact, he said it would make the current crisis worse.
"Decisive steps and a strong reform agenda were needed, but what we heard were many 'ifs' and 'buts' that will not address the situation," the analyst said. "There was nothing concrete, nothing tangible in there. We were given a review of the situation but no actions to get us out of it. That's a problem. I think we will now see more bloodshed."
The British foreign secretary, William Hague, dismissed the speech as "disappointing and unconvincing".
A wavering, pro-reform supporter of the president welcomed the contents of the speech, but said it may have come too late.
"The president put everything in the hands of the national dialogue committee, which is good," he said. "I hope we have the time to let them make recommendations and for real reforms to come but now there are questions of credibility: will the people wait, will they believe these promises?"
psands@thenational.ae
Super Saturday race card
4pm: Mahab Al Shimaal Group 3 | US$350,000 | (Dirt) | 1,200m
4.35pm: Al Bastakiya Listed | $300,000 | (D) | 1,900m
5.10pm: Nad Al Sheba Turf Group 3 | $350,000 | (Turf) | 1,200m
5.45pm: Burj Nahaar Group 3 | $350,000 | (D) | 1,600m
6.20pm: Dubai City of Gold Group 2 | $300,000 | (T) | 2,410m
6.55pm: Al Maktoum Challenge Round 3 Group 1 | $600,000 | (D) | 2,000m
7.30pm: Jebel Hatta Group 1 | $400,000 | (T) | 1,800m
The specs: 2018 Nissan 370Z Nismo
The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km
The Book of Collateral Damage
Sinan Antoon
(Yale University Press)
UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
How to help
Call the hotline on 0502955999 or send "thenational" to the following numbers:
2289 - Dh10
2252 - Dh50
6025 - Dh20
6027 - Dh100
6026 - Dh200
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.”
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Countries offering golden visas
UK
Innovator Founder Visa is aimed at those who can demonstrate relevant experience in business and sufficient investment funds to set up and scale up a new business in the UK. It offers permanent residence after three years.
Germany
Investing or establishing a business in Germany offers you a residence permit, which eventually leads to citizenship. The investment must meet an economic need and you have to have lived in Germany for five years to become a citizen.
Italy
The scheme is designed for foreign investors committed to making a significant contribution to the economy. Requires a minimum investment of €250,000 which can rise to €2 million.
Switzerland
Residence Programme offers residence to applicants and their families through economic contributions. The applicant must agree to pay an annual lump sum in tax.
Canada
Start-Up Visa Programme allows foreign entrepreneurs the opportunity to create a business in Canada and apply for permanent residence.
The specs: 2018 Mitsubishi Eclipse Cross
Price, base / as tested: Dh101,140 / Dh113,800
Engine: Turbocharged 1.5-litre four-cylinder
Power: 148hp @ 5,500rpm
Torque: 250Nm @ 2,000rpm
Transmission: Eight-speed CVT
Fuel consumption, combined: 7.0L / 100km
The specs
Price: From Dh180,000 (estimate)
Engine: 2.0-litre turbocharged and supercharged in-line four-cylinder
Transmission: Eight-speed automatic
Power: 320hp @ 5,700rpm
Torque: 400Nm @ 2,200rpm
Fuel economy, combined: 9.7L / 100km
if you go
The flights
Etihad and Emirates fly direct to Kolkata from Dh1,504 and Dh1,450 return including taxes, respectively. The flight takes four hours 30 minutes outbound and 5 hours 30 minute returning.
The trains
Numerous trains link Kolkata and Murshidabad but the daily early morning Hazarduari Express (3’ 52”) is the fastest and most convenient; this service also stops in Plassey. The return train departs Murshidabad late afternoon. Though just about feasible as a day trip, staying overnight is recommended.
The hotels
Mursidabad’s hotels are less than modest but Berhampore, 11km south, offers more accommodation and facilities (and the Hazarduari Express also pauses here). Try Hotel The Fame, with an array of rooms from doubles at Rs1,596/Dh90 to a ‘grand presidential suite’ at Rs7,854/Dh443.
Anghami
Started: December 2011
Co-founders: Elie Habib, Eddy Maroun
Based: Beirut and Dubai
Sector: Entertainment
Size: 85 employees
Stage: Series C
Investors: MEVP, du, Mobily, MBC, Samena Capital
What's in the deal?
Agreement aims to boost trade by £25.5bn a year in the long run, compared with a total of £42.6bn in 2024
India will slash levies on medical devices, machinery, cosmetics, soft drinks and lamb.
India will also cut automotive tariffs to 10% under a quota from over 100% currently.
Indian employees in the UK will receive three years exemption from social security payments
India expects 99% of exports to benefit from zero duty, raising opportunities for textiles, marine products, footwear and jewellery
Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
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%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Rob%20Marshall%3Cbr%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3EHalle%20Bailey%2C%20Jonah%20Hauer-King%2C%20Melissa%20McCarthy%2C%20Javier%20Bardem%3Cbr%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E2%2F5%3Cbr%3E%3Cbr%3E%3C%2Fp%3E%0A
Past winners of the Abu Dhabi Grand Prix
2016 Lewis Hamilton (Mercedes-GP)
2015 Nico Rosberg (Mercedes-GP)
2014 Lewis Hamilton (Mercedes-GP)
2013 Sebastian Vettel (Red Bull Racing)
2012 Kimi Raikkonen (Lotus)
2011 Lewis Hamilton (McLaren)
2010 Sebastian Vettel (Red Bull Racing)
2009 Sebastian Vettel (Red Bull Racing)