Yemeni protestors chant slogans during a demonstration against President Ali Abdullah Saleh's deal which will give him immunity from prosecution.
Yemeni protestors chant slogans during a demonstration against President Ali Abdullah Saleh's deal which will give him immunity from prosecution.
Yemeni protestors chant slogans during a demonstration against President Ali Abdullah Saleh's deal which will give him immunity from prosecution.
Yemeni protestors chant slogans during a demonstration against President Ali Abdullah Saleh's deal which will give him immunity from prosecution.

Revolt forces Saleh to exit the snakepit


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SANAA // Ali Abdullah Saleh once compared running Yemen to "dancing on the heads of snakes".

In 33 years he has led a poor, unruly and fractious nation through civil war, uprisings, militant campaigns, tribal feuds and poverty.

His dancing days are just about over after he finally stepped down yesterday instead of pirouetting away from the edge at the last minute as he did three times before.

The bombing of his presidential compound in June, an apparent assassination attempt, covered him with severe burns and drove him abroad to recover in exile in Saudi Arabia.

But Mr Saleh made his way back into the snakepit in September. His return to Sanaa created a spike in violence and moved the country closer to civil war.

Only recently, Mr Saleh's rule seemed all but unshakeable. Last year, supporters were pushing for constitutional changes to allow him an unlimited number of five-year terms as president. Speculation also suggested he was grooming one of his sons as a possible successor.

But the popular uprising that began in Tunisia in December came to scupper the plans. After the Tunisian president, Zine El Abidine Ben Ali, and Egypt's Hosni Mubarak fell from power, tens of thousands of Yemenis protested in the capital and Mr Saleh began to promise concessions.

First Mr Saleh said he would not stand for re-election in 2013 and dismissed the idea of his son succeeding him, then he offered a referendum on a new constitution by the end of the year and a shift to a truly democratic "parliamentary system".

But after the death of 52 protesters in March, a string of generals, tribal leaders, diplomats and ministers resigned or declared their public allegiance to the protesters.

Many were from the Al Ahmar and Sanhan tribes, kinsmen whom Mr Saleh had placed in key military and other positions.

Mr Saleh became the ruler of North Yemen in 1978 at a time when the south was a separate, communist state, and led the unified country since the two states merged in 1990.

Opponents often complained that Yemen under Mr Saleh failed to meet the basic needs of the country's people, with two out of every three living on less than US$2 (Dh7.34) per day. Oil wealth is dwindling and water is running out, though liquefied natural gas exports began in 2009.

Yet Mr Saleh managed to keep western and Arab powers on side. The United States has talked openly of its concern about who might succeed Mr Saleh, an ally in the fight against Al Qaeda in the Arabian Peninsula, a Yemen-based wing of the militant group.

After the September 11 attacks, Yemen came on to Washington's radar as a source of foot soldiers for Osama bin Laden's Al Qaeda network.

Mr Saleh co-operated with US authorities, and the CIA carried out a successful drone attack against a wanted figure. But by 2007, militants had regrouped in Yemen and in 2008 they announced that their Saudi and Yemeni wings had united under the banner of Al Qaeda in the Arabian Peninsula.

From 2009, the resurgent group made ever bolder attempts to stage attacks on Saudi and US targets beyond Yemeni soil, as well as targeting foreign tourists at home.

At the same time, northern Shiites rebelled against Mr Saleh's rule and southerners, feeling marginalised, began a new separatist drive.

Saudi Arabia, the US and other allies responded by stepping up with financial support to bolster Mr Saleh's rule.

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How to keep control of your emotions

If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.

Greed

Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.

Tip: Ignore the short-term hype, noise and froth and invest for the long-term plan, based on sound fundamentals.

Fear

The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.

Tip: Start with a plan, and stick to it. For added security, consider placing stops to reduce any losses and limits to lock in profits.

Hope

While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.

Tip: Set realistic goals. Be happy with what you have earned, rather than frustrated by what you could have earned.

Frustration

Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.

Tip: Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.

Boredom

Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.

Tip: Open an online demo account and get your thrills without risking real money.

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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