WASHINGTON // As the fighting in Yemen finds its way to the narrow streets of Sana'a, it is becoming increasingly unlikely that Ali Abdullah Saleh, Yemen's president, will yield to international attempts to ease him from power.
Instead, a period of increased instability now seems certain until what has become an internal regime struggle is settled.
Should that struggle go on too long, however, chances of all-out civil war will increase, and with it concerns over regional stability. And while regional and international actors are doing their utmost to avoid such a scenario, the ability of outsiders to have any effect on Yemen's fractious political landscape is limited.
This is despite the fact that Gulf, US and international interests are closely aligned in Yemen. Each day some three million barrels of oil pass through Bab el Mandeb, a strategic waterway linking the Red Sea and the Gulf of Aden at the southern tip of the country. With Somalia on the other side, instability in Yemen could seriously disrupt shipping through the strait and affect global oil prices and supply.
Washington's concerns over the ability of al Qa'eda in the Arabian Peninsula (AQAP) to exploit any power vacuum in Yemen are not shared by other powers in the region, who say the group is not powerful enough to pose a serious threat.
Nevertheless, should the authority of a traditionally weak central government wane even further, the many local players in Yemen - secessionists in the South, Houthis in the north, as well as extremist militants - will start to assert their independence from Sana'a.
This fracturing will be of great concern to Saudi Arabia, which shares an 1,800-kilometre-long border with Yemen.
On Wednesday, the White House announced that John Brennan, counter-terrorism adviser to Barack Obama, the US president, has been dispatched to the region, where he will visit Saudi Arabia and the UAE in the coming days. Mr Brennan's arrival is a sign of growing concern in Washington over the situation. The announcement was accompanied by yet another strong US statement of support for the Gulf Co-operation Council (GCC) proposal for a transition of power. The recent fighting, the White House said, underscored the need for Mr Saleh to sign the proposal and "begin the transfer of power immediately".
The GCC proposal calls on Mr Saleh to step down in 30 days in return for immunity from prosecution, and a transitional government made up of opposition parties to hold presidential elections two months later.
But Mr Saleh has stubbornly resisted the GCC's mediation. Three times he has agreed to sign the proposal only to renege at the last moment. However closely the Gulf and the US may co-ordinate over Yemen, this suggests that the success of any international involvement largely depends on domestic Yemeni factors.
Dr Roby Barrett, a Gulf security expert and a scholar with the Middle East Institute, a Washington-based think-tank, said: "To those on the outside, the GCC proposal is what looks reasonable. But for 30 years, Saleh has done whatever Saleh thinks is good for Saleh."
Dr Barrett, who will be speaking at a conference on Gulf security at the Emirates Centre for Strategic Studies and Research later this month, pointed out that Mr Saleh had proven adept at navigating the choppy waters of Yemeni politics. And in these waters the calculations are different.
Much will depend on how the fighting pans out between fighters loyal to Sheikh Sadeq al Ahmar, head of the Hashed tribal federation from which many of Yemen's past leaders have hailed, and the elements in Yemen's army still loyal to Mr Saleh and his sons.
Dr Barrett described that fighting as a "civil war within the ruling regime". Both parties to the fighting have benefited greatly from the make-up of the Yemeni government. Both sides would be aware that should fighting be protracted, the accompanying contraction of central control could open the door to the many other actors in Yemen.
That raises the possibility that both sides might consider an eventual compromise that sees Mr Saleh retain his role.
Central authority is "going to contract" in Yemen, said Dr Barrett, pointing out that such an event is a matter of degree in a country where central authority has at best waxed and waned.
"But they may decide it contracts less with a compromise than it does if they carry this through to the end," he said.
Chances are that Yemenis will eventually return to the GCC proposal or something similar. For all his mastery of domestic politics, Mr Saleh is still facing a broad if highly unstable domestic opposition and near unanimous international and regional calls for him to step down.
It is not clear whether more reform-minded Yemenis, inspired by events elsewhere in the Middle East and North Africa, would accept a regime compromise if such should be reached. As things stand, this is still an unlikely outcome.
Meanwhile, at least a limited fracturing of Yemen is likely as the regime fights itself.
foreign.desk@thenational.ae
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%20you%20go
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Important questions to consider
1. Where on the plane does my pet travel?
There are different types of travel available for pets:
- Manifest cargo
- Excess luggage in the hold
- Excess luggage in the cabin
Each option is safe. The feasibility of each option is based on the size and breed of your pet, the airline they are traveling on and country they are travelling to.
2. What is the difference between my pet traveling as manifest cargo or as excess luggage?
If traveling as manifest cargo, your pet is traveling in the front hold of the plane and can travel with or without you being on the same plane. The cost of your pets travel is based on volumetric weight, in other words, the size of their travel crate.
If traveling as excess luggage, your pet will be in the rear hold of the plane and must be traveling under the ticket of a human passenger. The cost of your pets travel is based on the actual (combined) weight of your pet in their crate.
3. What happens when my pet arrives in the country they are traveling to?
As soon as the flight arrives, your pet will be taken from the plane straight to the airport terminal.
If your pet is traveling as excess luggage, they will taken to the oversized luggage area in the arrival hall. Once you clear passport control, you will be able to collect them at the same time as your normal luggage. As you exit the airport via the ‘something to declare’ customs channel you will be asked to present your pets travel paperwork to the customs official and / or the vet on duty.
If your pet is traveling as manifest cargo, they will be taken to the Animal Reception Centre. There, their documentation will be reviewed by the staff of the ARC to ensure all is in order. At the same time, relevant customs formalities will be completed by staff based at the arriving airport.
4. How long does the travel paperwork and other travel preparations take?
This depends entirely on the location that your pet is traveling to. Your pet relocation compnay will provide you with an accurate timeline of how long the relevant preparations will take and at what point in the process the various steps must be taken.
In some cases they can get your pet ‘travel ready’ in a few days. In others it can be up to six months or more.
5. What vaccinations does my pet need to travel?
Regardless of where your pet is traveling, they will need certain vaccinations. The exact vaccinations they need are entirely dependent on the location they are traveling to. The one vaccination that is mandatory for every country your pet may travel to is a rabies vaccination.
Other vaccinations may also be necessary. These will be advised to you as relevant. In every situation, it is essential to keep your vaccinations current and to not miss a due date, even by one day. To do so could severely hinder your pets travel plans.
Source: Pawsome Pets UAE
MATCH DETAILS
Chelsea 4
Jorginho (4 pen, 71 pen), Azpilicueta (63), James (74)
Ajax 4
Abraham (2 og), Promes (20). Kepa (35 og), van de Beek (55)
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About%20My%20Father
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Mohammed bin Zayed Majlis
In numbers: China in Dubai
The number of Chinese people living in Dubai: An estimated 200,000
Number of Chinese people in International City: Almost 50,000
Daily visitors to Dragon Mart in 2018/19: 120,000
Daily visitors to Dragon Mart in 2010: 20,000
Percentage increase in visitors in eight years: 500 per cent
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
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Getting%20there%20and%20where%20to%20stay
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The specs
Engine: 1.5-litre 4-cyl turbo
Power: 194hp at 5,600rpm
Torque: 275Nm from 2,000-4,000rpm
Transmission: 6-speed auto
Price: from Dh155,000
On sale: now
AWARDS
%3Cp%3E%3Cstrong%3EBest%20Male%20black%20belt%3A%20%3C%2Fstrong%3ELucas%20Protasio%20(BRA)%3Cbr%3E%3Cstrong%3EBest%20female%20black%20belt%3A%20%3C%2Fstrong%3EJulia%20Alves%20(BRA)%3Cbr%3E%3Cstrong%3EBest%20Masters%20black%20belt%3A%3C%2Fstrong%3E%20Igor%20Silva%20(BRA)%3Cbr%3E%3Cstrong%3EBest%20Asian%20Jiu-Jitsu%20Federation%3A%3C%2Fstrong%3E%20Kazakhstan%3Cbr%3E%3Cstrong%3EBest%20Academy%20in%20UAE%3A%20%3C%2Fstrong%3ECommando%20Group%2C%20Abu%20Dhabi%3Cbr%3E%3Cstrong%3EBest%20International%20Academy%3A%3C%2Fstrong%3E%20Commando%20Group%2C%20Abu%20Dhabi%3Cbr%3E%3Cstrong%3EAfrican%20Player%20of%20the%20Year%3A%20%3C%2Fstrong%3EKatiuscia%20Yasmira%20Dias%20(GNB)%3Cbr%3E%3Cstrong%3EOceanian%20Player%20of%20the%20Year%3A%20%3C%2Fstrong%3EAnton%20Minenko%20(AUS)%3Cbr%3E%3Cstrong%3EEuropean%20Player%20of%20the%20Year%3A%3C%2Fstrong%3E%20Rose%20El%20Sharouni%20(NED)%3Cbr%3E%3Cstrong%3ENorth%20and%20Central%20American%20Player%20of%20the%20Year%3A%20%3C%2Fstrong%3EAlexa%20Yanes%20(USA)%3Cbr%3E%3Cstrong%3EAsian%20Player%20of%20the%20Year%3A%20%3C%2Fstrong%3EZayed%20Al%20Katheeri%20(UAE)%3Cbr%3E%3Cstrong%3ERookie%20of%20the%20Year%3A%3C%2Fstrong%3E%20Rui%20Neto%20(BRA)Rui%20Neto%20(BRA)%3C%2Fp%3E%0A
The specs
Engine: 8.0-litre, quad-turbo 16-cylinder
Transmission: 7-speed auto
0-100kmh 2.3 seconds
0-200kmh 5.5 seconds
0-300kmh 11.6 seconds
Power: 1500hp
Torque: 1600Nm
Price: Dh13,400,000
On sale: now
The Voice of Hind Rajab
Starring: Saja Kilani, Clara Khoury, Motaz Malhees
Director: Kaouther Ben Hania
Rating: 4/5
The%20specs
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