The eighth round of United nations-brokered talks on Syria ended on Thursday with special envoy Staffan de Mistura forced to admit, " We did not have real negotiations."
Mr de Mistura acknowledged at a press conference that no real discussions took place between the government and the opposition's side — despite "all sorts of creative formulas" tried by his team.
He had hoped to get the two sides together rather than shuttling between their separate meeting rooms but the Syrian president Bashar Al Assad's delegation refused any face-to-face encounters with the opposition.
“I tried to convince the regime delegation to hold direct negotiation and without preconditions.”he said. But it was not to be, a failure he called , "regrettable".
But the opposition delegation had given him "concrete ideas" on all four "baskets" : political transition, counter-terrorism, the constitution and elections, whereas the government side had discussed only counter-terrorism.
Mr de Mistura said the peace talks were a "golden opportunity missed" as another round ends without progress. He confirmed that “everyone is in agreement that resolution 2254 on Syria should be implemented.”
Mr de Mistura will now present the results of 17 days of negotiation to the UN Security council on Tuesday.
The talks, which began on November 28, remain deadlocked on the issue of the future of Syrian president Bashar Al Assad, with the opposition insisting he must go as part of any peace deal.
Mr de Mistura called on Russian president Vladimir Putin to "have the courage" to push the Syrian government to accept new elections and a new constitution and "convince them there is no time to lose." .
Russia has provided crucial military and diplomatic backing to Mr Al Assad's forces, including air and ground support for government forces, ostensibly to combat advances by what Moscow and Damascus term "terrorist" groups.
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"We can talk about having won the territorial war, which is temporary, but the peace also needs to be won and for that there needs to be the courage to push the government to accept new elections," he said, adding that such polls should be monitored by the UN.
Syrian government negotiator Bashar Al Jaafari said Damascus did not want the talks to fail, and had engaged seriously in discussions which concentrated on counter-terrorism, But the opposition had sabotaged the talks by introducing a precondition after a conference dubbed "Riyadh 2" last month which ended with a demand for Mr Al Assad to have no role in Syria's political transition.
"The Riyadh 2 Communique is blackmail of the Geneva process," Mr Al Jaafari said. "Those who drew up the Riyadh 2 statement were the ones who sabotaged this round. I mean by that the other side."
The opposition, however, blamed the government side for "procrastination." Spokesman Yayha Aridi said, "23 million Syrians will not accept obstruction in achieving peace in Syria."
ESSENTIALS
The flights
Emirates, Etihad and Swiss fly direct from the UAE to Zurich from Dh2,855 return, including taxes.
The chalet
Chalet N is currently open in winter only, between now and April 21. During the ski season, starting on December 11, a week’s rental costs from €210,000 (Dh898,431) per week for the whole property, which has 22 beds in total, across six suites, three double rooms and a children’s suite. The price includes all scheduled meals, a week’s ski pass, Wi-Fi, parking, transfers between Munich, Innsbruck or Zurich airports and one 50-minute massage per person. Private ski lessons cost from €360 (Dh1,541) per day. Halal food is available on request.
UAE currency: the story behind the money in your pockets
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.”
Trump v Khan
2016: Feud begins after Khan criticised Trump’s proposed Muslim travel ban to US
2017: Trump criticises Khan’s ‘no reason to be alarmed’ response to London Bridge terror attacks
2019: Trump calls Khan a “stone cold loser” before first state visit
2019: Trump tweets about “Khan’s Londonistan”, calling him “a national disgrace”
2022: Khan’s office attributes rise in Islamophobic abuse against the major to hostility stoked during Trump’s presidency
July 2025 During a golfing trip to Scotland, Trump calls Khan “a nasty person”
Sept 2025 Trump blames Khan for London’s “stabbings and the dirt and the filth”.
Dec 2025 Trump suggests migrants got Khan elected, calls him a “horrible, vicious, disgusting mayor”
Most sought after workplace benefits in the UAE
- Flexible work arrangements
- Pension support
- Mental well-being assistance
- Insurance coverage for optical, dental, alternative medicine, cancer screening
- Financial well-being incentives
INFO
What: DP World Tour Championship
When: November 21-24
Where: Jumeirah Golf Estates, Dubai
Tickets: www.ticketmaster.ae.
Naga
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Match info
Uefa Champions League Group H
Juventus v Valencia, Tuesday, midnight (UAE)
UAE currency: the story behind the money in your pockets
SPECS
Nissan 370z Nismo
Engine: 3.7-litre V6
Transmission: seven-speed automatic
Power: 363hp
Torque: 560Nm
Price: Dh184,500