Iran's Revolutionary Guard Corps commander Major General Hossein Salami, right, accompanied by the IRGC naval commander Rear Admiral Alireza Tangsiri, speaks to Iranian media during his visit to the island of Abu Musa on January 2, 2020. Iran's Revolutionary Guard via Sepahnews / AFP
Iran's Revolutionary Guard Corps commander Major General Hossein Salami, right, accompanied by the IRGC naval commander Rear Admiral Alireza Tangsiri, speaks to Iranian media during his visit to the island of Abu Musa on January 2, 2020. Iran's Revolutionary Guard via Sepahnews / AFP
Iran's Revolutionary Guard Corps commander Major General Hossein Salami, right, accompanied by the IRGC naval commander Rear Admiral Alireza Tangsiri, speaks to Iranian media during his visit to the island of Abu Musa on January 2, 2020. Iran's Revolutionary Guard via Sepahnews / AFP
Iran's Revolutionary Guard Corps commander Major General Hossein Salami, right, accompanied by the IRGC naval commander Rear Admiral Alireza Tangsiri, speaks to Iranian media during his visit to the i

Iran's Revolutionary Guard chief vows firm response to enemies


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Iran is ready to match any aggression by the US with decisive and firm blows, the commander of the country's Islamic Revolutionary Guard Corps said on Saturday as Iranians marked the first anniversary of the assassination of top general Qassem Suleimani in a US drone strike.

Hossein Salami was speaking during an inspection of troops stationed on occupied Abu Musa island, accompanied by the IRGC Navy commander Rear Admiral Alireza Tangsiri.

"We are here today to evaluate and be assured of our powerful capabilities at sea and against enemies who sometimes boast ... and threaten," Mr Salami said in remarks reported by the IRGC's Sepahnews website.

"We would respond with a reciprocal, decisive and strong blow to whatever action the enemy would take against us."

Abu Musa and the Greater and Lesser Tunb islands are located in the Gulf near the entrance to the strategic Strait of Hormuz, through which a fifth of world oil output passes.

The islands were seized by Iran when the UAE was formed in 1971. The Tunbs had historically belonged to Ras Al Khaimah and Abu Musa to Sharjah, when both emirates were still part of the Trucial States.

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The UAE has sought to settle the issue of Iran’s illegal occupation through peaceful methods and arbitration. This country has repeatedly pressed the case directly with international organisations and with Iran itself. The UAE enjoys widespread support for its case. Iran has consistently rejected referring the matter to the International Court of Justice.

Tensions have been building up in the run-up to the anniversary of Suleimani's killing in Baghdad on January 3, with two American B-52 bombers recently flying over the region.

Iran's Foreign Minister Mohammad Javad Zarif on Thursday accused outgoing US President Donald Trump of aiming to fabricate a "pretext for war" after Mr Trump blamed Tehran for a rocket strike on the US embassy in Baghdad on December 20.

The US aircraft carrier USS Nimitz has been patrolling Gulf waters since late November, but American media said this week that the acting US defence secretary Christopher Miller had ordered the ship to return home.

The New York Times, quoting US officials, said this move was part of a de-escalatory signal to Tehran to avoid a conflict in Mr Trump's last days in office.

Tension between Washington and Tehran escalated after Mr Trump unilaterally withdrew the US from a landmark nuclear deal with Iran and world powers in 2018 and launched a "maximum pressure" campaign against Tehran, reimposing and reinforcing crippling sanctions.

Iran's Revolutionary Guard Corps commander Major General Hossein Salami, centre, accompanied by the IRGC naval commander Rear Admiral Alireza Tangsiri, right, inspects troops during his visit to the island of Abu Musa on January 2, 2020. Iran's Revolutionary Guard via Sepahnews / AFP
Iran's Revolutionary Guard Corps commander Major General Hossein Salami, centre, accompanied by the IRGC naval commander Rear Admiral Alireza Tangsiri, right, inspects troops during his visit to the island of Abu Musa on January 2, 2020. Iran's Revolutionary Guard via Sepahnews / AFP

The two countries have twice come to the brink of war since June, 2019, especially after the killing of Suleimani.

Days after the killing, Iran launched a volley of missiles at Iraqi bases housing US and other coalition troops, with Mr Trump refraining from any further military response.

Rear Adm Tangsiri had last visited the two Tunb islands on December 25 and stressed the need for the troops' "combat-readiness and awareness", according to ISNA news agency.

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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.”

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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

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Pools

A – Dubai College, Deira International School, Al Ain Amblers, Warriors
B – Dubai English Speaking College, Repton Royals, Jumeirah College, Gems World Academy
C – British School Al Khubairat, Abu Dhabi Harlequins, Dubai Hurricanes, Al Yasmina Academy
D – Dubai Exiles, Jumeirah English Speaking School, English College, Bahrain Colts

Recent winners

2018 – Dubai College
2017 – British School Al Khubairat
2016 – Dubai English Speaking School
2015 – Al Ain Amblers
2014 – Dubai College

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Why does a queen bee feast only on royal jelly?

Some facts about bees:

The queen bee eats only royal jelly, an extraordinary food created by worker bees so she lives much longer

The life cycle of a worker bee is from 40-60 days

A queen bee lives for 3-5 years

This allows her to lay millions of eggs and allows the continuity of the bee colony

About 20,000 honey bees and one queen populate each hive

Honey is packed with vital vitamins, minerals, enzymes, water and anti-oxidants.

Apart from honey, five other products are royal jelly, the special food bees feed their queen 

Pollen is their protein source, a super food that is nutritious, rich in amino acids

Beewax is used to construct the combs. Due to its anti-fungal, anti-bacterial elements, it is used in skin treatments

Propolis, a resin-like material produced by bees is used to make hives. It has natural antibiotic qualities so works to sterilize hive,  protects from disease, keeps their home free from germs. Also used to treat sores, infection, warts

Bee venom is used by bees to protect themselves. Has anti-inflammatory properties, sometimes used to relieve conditions such as rheumatoid arthritis, nerve and muscle pain

Honey, royal jelly, pollen have health enhancing qualities

The other three products are used for therapeutic purposes

Is beekeeping dangerous?

As long as you deal with bees gently, you will be safe, says Mohammed Al Najeh, who has worked with bees since he was a boy.

“The biggest mistake people make is they panic when they see a bee. They are small but smart creatures. If you move your hand quickly to hit the bees, this is an aggressive action and bees will defend themselves. They can sense the adrenalin in our body. But if we are calm, they are move away.”

 

 

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This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

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