Egypt and Syria can lead Arabs to unity


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Political observers praised the Saudi-Syrian summit held in Riyadh and thought it could expand to include a third party: Egypt. If that happens, it will be a significant political move that will boost the important geopolitical triangle of Riyadh, Cairo, and Damascus, said Tariq Alhomayed in an opinion article for the London-based newspaper Al Sharq al Awsat.

Some evaluate the level of the Saudi-Syrian relationship according to the political situation in Lebanon. Others link the improvement of Syrian-Egyptian relations with Palestinian reconciliation. "Yet, what is important here is the unspoken obstacles that challenge the three countries. In Lebanon, there is Hizbollah, which has an army that can outweigh Lebanon's own. For its part, Hamas tries to destabilise Egypt's security and blackmail it through the media. Saudi Arabia, while is intensifying its efforts to combat al Qa'eda, has to deal with challenges along its southern border."

Syria is not an exception. It has witnessed political hard times that force it to put national security as a top priority. In this context, the visit of the Syrian president to Riyadh is a very positive step, which, if crowned by a three-party summit - Saudi Arabia, Egypt and Syria - will be very welcome news. It will also prove that Arab countries are aware of the pending dangers against them and the need to defend their interests

The Jordanian newspaper Al Dustoor wrote in its editorial that because of persistent Israeli intransigence, there was little hope to see a breakthrough in the Palestinian impasse in the near future. The situation was turning even worse in light of the US position, which ended up adopting that of the Israeli prime minister Benjamin Netanyahu, rejecting calls to freeze settlements as a condition to resume peace talks.

The general atmosphere in Israel is marked by an increasing mobilisation of its army and military attacks on the Gaza Strip, an indication that the Israelis are not interested in achieving peace now. "By continuously attacking the Gaza Strip, rejecting international community resolutions, and opposing any international or Arab peace initiatives, the right-wing Israeli government is pushing the entire nation to the brink of war. Israel behaves this way in order to go around international pressure to comply with UN resolutions to withdraw from the Palestinian territories it has occupied since 1967." Power alone is not a guarantee to ensure security and stability, Israel, therefore, cannot have both land and peace. "So if the Israelis would like a true peace, then they need to change their 'fortress' mentality. And this, combined with an obsession about war, has always led them to impede the peace process and reject coexistence."

It is likely that the events in Yemen could reoccur in other Arab countries, if no firm action is taken to counter terrorism before it flares up, wrote Salah al Qalab in an opinion piece for the Kuwaiti newspaper Al Jareeda. In fact, what encourages the propagation of insurgent violence is the lax attitudes of governments to address the terrorist phenomenon. Yemen is an example.

No one had thought that al Qa'eda would deepen its roots in this country, nor had anyone expected that such groups as the Houthis and the secessionists in the South would emerge so boldly. Yemen is under a double threat, internal and external. It is facing security upheavals at home, and is targeted by powers from the region, which actually fuel the interior insurgencies. "For this reason, Yemen should not be left alone to face all these burdens. The same scenario can occur in other Arab countries if they do not anticipate the danger or fail to fight terrorism with an iron fist." It should be known that terrorists and the supporters behind them are relentlessly lying in wait to strike. It should also be noted that the imminent danger of rising terrorism can affect any Arab country, whether close to Yemen or far away.

"Combating corruption has grabbed the attention of many in the UAE these days after top security and government officials declared that many officials were found involved in public financial crimes," wrote Maysa Rashed Rhadeer in an opinion article for the UAE daily Al Bayan. "And as all countries are in the process of reviewing their policies on how to protect their national wealth, the UAE is not an exception in this pursuit."

All those involved are human and they do not differ from those elsewhere, but what is important is to continue granting the same press freedom as in developed countries, so that the media will continue to express the public's opinion about related issues. The government has always been tough on fighting corruption through laws and other procedures to deter the corrupt and protect the country and its institutions. By uprooting corruption, the government is also protecting the reputation of the UAE as it pledges to provide an optimal environment for investment and economic opportunities.

* Digest compiled by Mostapha Elmouloudi @Email:melmouloudi@thenational.ae

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Our legal consultants

Name: Hassan Mohsen Elhais

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

Nancy 9 (Hassa Beek)

Nancy Ajram

(In2Musica)

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The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

The Programme

Saturday, October 26: ‘The Time That Remains’ (2009) by Elia Suleiman
Saturday, November 2: ‘Beginners’ (2010) by Mike Mills
Saturday, November 16: ‘Finding Vivian Maier’ (2013) by John Maloof and Charlie Siskel
Tuesday, November 26: ‘All the President’s Men’ (1976) by Alan J Pakula
Saturday, December 7: ‘Timbuktu’ (2014) by Abderrahmane Sissako
Saturday, December 21: ‘Rams’ (2015) by Grimur Hakonarson

Illegal%20shipments%20intercepted%20in%20Gulf%20region
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Racecard
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Skoda Superb Specs

Engine: 2-litre TSI petrol

Power: 190hp

Torque: 320Nm

Price: From Dh147,000

Available: Now

Roll of honour

Who has won what so far in the West Asia Premiership season?

Western Clubs Champions League - Winners: Abu Dhabi Harlequins; Runners up: Bahrain

Dubai Rugby Sevens - Winners: Dubai Exiles; Runners up: Jebel Ali Dragons

West Asia Premiership - Winners: Jebel Ali Dragons; Runners up: Abu Dhabi Harlequins

UAE Premiership Cup - Winners: Abu Dhabi Harlequins; Runners up: Dubai Exiles

West Asia Cup - Winners: Bahrain; Runners up: Dubai Exiles

West Asia Trophy - Winners: Dubai Hurricanes; Runners up: DSC Eagles

Final West Asia Premiership standings - 1. Jebel Ali Dragons; 2. Abu Dhabi Harlequins; 3. Bahrain; 4. Dubai Exiles; 5. Dubai Hurricanes; 6. DSC Eagles; 7. Abu Dhabi Saracens

Fixture (UAE Premiership final) - Friday, April 13, Al Ain – Dubai Exiles v Abu Dhabi Harlequins

 

Company%20profile
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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.”

WOMAN AND CHILD

Director: Saeed Roustaee

Starring: Parinaz Izadyar, Payman Maadi

Rating: 4/5

F1 The Movie

Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem

Director: Joseph Kosinski

Rating: 4/5

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.

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While you're here
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Groom and Two Brides

Director: Elie Semaan

Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

BLACKBERRY
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SPECS
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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