A picture of what US intelligence officials say is a Syrian nuclear reactor built with North Korean help. US intelligence officials said the facility had been close to becoming operational when it was destroyed in September 2007 by an Israeli strike.
A picture of what US intelligence officials say is a Syrian nuclear reactor built with North Korean help. US intelligence officials said the facility had been close to becoming operational when it was destroyed in September 2007 by an Israeli strike.
A picture of what US intelligence officials say is a Syrian nuclear reactor built with North Korean help. US intelligence officials said the facility had been close to becoming operational when it was destroyed in September 2007 by an Israeli strike.
A picture of what US intelligence officials say is a Syrian nuclear reactor built with North Korean help. US intelligence officials said the facility had been close to becoming operational when it was

Syria pledges full co-operation with UN nuclear investigators


  • English
  • Arabic

NEW YORK // In a major turnaround, Syria is pledging full co-operation with UN attempts to further investigate strong evidence that it secretly built a reactor that could have been used to make nuclear arms, according to a confidential document shared with The Associated Press.

If Syria fulfills its promise, the move would end three years of stonewalling by Damascus of the International Atomic Energy Authority.

Since 2008, the agency has tried in vain to follow up on strong evidence that a target bombed in 2007 by Israeli warplanes was a nearly built nuclear reactor that would have produced plutonium once active.

Syria's sudden readiness to cooperate seems to be an attempt at derailing US-led attempts to have Damascus referred to the UN Security Council amid already strong international pressure on the Syrian leadership to end its crackdown on pro-democracy demonstrators.

An IAEA report last week said the Vienna-based agency "assesses that the building destroyed ... was a nuclear reactor" - the finding sought by Washington and its allies to push to have Syria reported to the council by a 35-nation IAEA board meeting next month.

That, in turn, apparently triggered Syria's decision to compromise.

In a confidential note sent on Friday to board members, IAEA chief Yukiya Amano cites top Syrian nuclear agency officials as saying "we are ready to fully co-operate with the agency" on its probe of the suspect site. Mr Amano said the pledge was contained in a letter dated Thursday, two days after his agency delivered its assessment.

But Washington is continuing its push. It has put forward a restricted draft of a resolution to be voted on at the 35-nation IAEA board meeting beginning June 6 that, if passed, would report Syria to the UN Security Council for violating the Nuclear Nonproliferation Treaty (NPT).

The draft, which also was made available to the AP on Sunday, notes "with serious concern" Syria's refusal to allow IAEA inspectors follow-up visits to the bombed site after the one they made in 2008. As a consequence, the board "decides to report Syria's noncompliance" with its NPT commitments," the document says.

Syria's manoeuvring will complicate Western attempts to bring its nuclear secrecy to the attention of the Security Council. However, Washington said it remained committed to trying.

"We are aware that the Syrian government has sent a letter to the IAEA regarding the agency's long-standing requests for full Syrian co-operation," says a letter dated Friday from the US mission that was sent to board members with a copy of the draft resolution.

"Such co-operation would indeed be welcome but would not have any bearing on the finding of noncompliance" by Syria of its NPT obligations, says the letter, which urges "board action" on the draft.

The letter, also shared on Sunday, was signed by Robert A Wood, America's deputy chief delegate to the IAEA. It and the other confidential documents were provided to the AP by diplomats who requested anonymity because of the nature of the material.

Syria has denied hiding a nuclear programme. But it has refused to allow IAEA inspectors to revisit the bombed site after an initial mission found traces of uranium and other materials that strengthened suspicion that nuclear material had been in use at the the site .

The Syrian pledge of co-operation will allow it to lobby uncommitted nations to vote against any IAEA resolution on UN Security Council involvement. Western nations fear that it is a tactic meant to allow Damascus to draw out the issue even further and destroy any remaining evidence of nuclear activity at the site.

If Syria is reported, the council has options ranging from doing nothing to passing its own resolutions demanding compliance with the IAEA, followed by sanctions to enforce such demands - as has been the scenario for Iran.

However, with main international efforts focused on Iran's nuclear programme, UN sanctions against Syria appear unlikely.

While Iran continues its nuclear activities, intelligence services have said Syria's covert programme was effectively ended by the Israeli bombing of the Al Kibar desert site. Also, forcing the issue would detract attention from Iran and possibly dilute efforts to end Syria's violence against its grass-roots pro-democracy movement.

But diplomats say that beyond sending a signal to Syria that defying the IAEA carries a price tag, reporting it to the UN Security Council also would be a rehearsal for more action against Iran. They said that after more than four years of gridlock in IAEA attempts to investigate Iran's alleged nuclear weapons-related experiments, Mr Amano, the IAEA chief, also is planning to draw up an assessment - perhaps by the end of the year - saying that such experiments were likely conducted.

That, in turn, would open the path for renewed IAEA referral of Iran to the Security Council and lead to potential tightening of existing sanctions or a new set of UN penalties, the diplomats said.

Along with Iran, Syria denies allegations that it is - or was - interested in developing nuclear arms. But its refusal to allow IAEA inspectors new access to the bombed site has heightened suspicions that it had something to hide.

Groom and Two Brides

Director: Elie Semaan

Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

What vitamins do we know are beneficial for living in the UAE

Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.

GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

BMW M5 specs

Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor

Power: 727hp

Torque: 1,000Nm

Transmission: 8-speed auto

Fuel consumption: 10.6L/100km

On sale: Now

Price: From Dh650,000

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.”

The%20Genius%20of%20Their%20Age
%3Cp%3EAuthor%3A%20S%20Frederick%20Starr%3Cbr%3EPublisher%3A%20Oxford%20University%20Press%3Cbr%3EPages%3A%20290%3Cbr%3EAvailable%3A%20January%2024%3C%2Fp%3E%0A
The Matrix Resurrections

Director: Lana Wachowski

Stars:  Keanu Reeves, Carrie-Anne Moss, Jessica Henwick 

Rating:****

The National's picks

4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young

The%20Mother%20
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Niki%20Caro%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Jennifer%20Lopez%2C%20Joseph%20Fiennes%2C%20Gael%20Garcia%20Bernal%2C%20Omari%20Hardwick%20and%20Lucy%20Paez%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A
Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.

Our family matters legal consultant

Name: Hassan Mohsen Elhais

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

If you go

The flights

There are direct flights from Dubai to Sofia with FlyDubai (www.flydubai.com) and Wizz Air (www.wizzair.com), from Dh1,164 and Dh822 return including taxes, respectively.

The trip

Plovdiv is 150km from Sofia, with an hourly bus service taking around 2 hours and costing $16 (Dh58). The Rhodopes can be reached from Sofia in between 2-4hours.

The trip was organised by Bulguides (www.bulguides.com), which organises guided trips throughout Bulgaria. Guiding, accommodation, food and transfers from Plovdiv to the mountains and back costs around 170 USD for a four-day, three-night trip.