A UN Security Council meeting in April at the United Nations Headquarters in New York. AFP
A UN Security Council meeting in April at the United Nations Headquarters in New York. AFP
A UN Security Council meeting in April at the United Nations Headquarters in New York. AFP
A UN Security Council meeting in April at the United Nations Headquarters in New York. AFP

UN expected to approve larger Yemen operation


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The UN Security Council is expected on Wednesday to approve an expanded ceasefire monitoring mission in Hodeidah, to try and ensure Yemen's warring parties stick to a plan agreed on last month to de-escalate the country's war.

A draft of the new resolution will be put before the council for a vote, asking that 75 UN observers — up from about the present 20 — be deployed in Hodeidah, the Red Sea port which is the point of entry for most of Yemen's commercial goods and aid supplies, for six months. The monitoring team was initially given a 30-day mandate in December.

Yemen government forces and Iran-backed Houthi rebels agreed to the ceasefire – which does not apply in other regions – during peace talks in Sweden last month, but it has not been fully implemented. A 21-day deadline for doing so passed last week.

The British-drafted resolution will ask UN secretary general Antonio Guterres to “expeditiously” deploy his recommended larger operation, which will be known as the United Nations Mission to support the Hodeidah Agreement (UNMHA).

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Read more:

Yemen rivals no longer ‘willing’ to meet jointly over Hodeidah, UN says

UAE says UN must hold Houthis to peace commitments in Yemen

Mike Pompeo says Houthi rebels violating Hodeidah ceasefire

Houthi rebels threaten more drone attacks

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The text requests that member states, particularly neighbouring states, “support the UN as required for the implementation of UNMHA's mandate". Although some Security Council members questioned aspects of the resolution, it is expected to pass, diplomats in New York said.

The fighting has diminished significantly, in and around Hodeidah, in the three weeks following the peace talks, according to the UN, but the Saudi-led Arab military coalition that backs Yemen's government has accused the Houthis of repeated violations.

The UN monitoring operation has also experienced problems. It emerged on Monday that Patrick Cammaert, the former Dutch general leading the UN mission in Hodeidah, in the past seven days had to shuttle between government officials and the Houthis for separate discussions as the rival sides are unwilling to meet face to face. The setback came despite a joint Redeployment Co-ordination Committee being set up to try and build trust between the rivals and ensure that the ceasefire is fully realised through a withdrawal of troops and fighters in Hodeidah. Under the peace proposals, known as the Stockholm Agreement, they are to be replaced by locally agreed on forces and an enhanced role for the UN at Hodeidah, and two other ports to ensure faster delivery of aid. Who will comprise the new forces was a major sticking point during the two meetings of the joint committee that took place under Mr Cammaert's chairmanship before the forum broke down.

The six months asked for in the new resolution would allow the UN and the ex-general, a veteran of numerous UN peacekeeping operations, more time for the stumbling Hodeidah ceasefire to take root.

The Security Council has 15 members. A resolution needs nine votes in favour and no vetoes by the permanent members — Britain, the US, Russia, France and China — to pass. In his proposal to the council last month, Mr Guterres described the planned 75-strong team as “a nimble presence” to monitor compliance of the deal and establish and assess facts and conditions on the ground.

10 tips for entry-level job seekers
  • Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
  • Keep track of the job trends in your sector through the news. Apply for job alerts at your dream organisations and the types of jobs you want – LinkedIn uses AI to share similar relevant jobs based on your selections.
  • Double check that you’ve highlighted relevant skills on your resume and LinkedIn profile.
  • For most entry-level jobs, your resume will first be filtered by an applicant tracking system for keywords. Look closely at the description of the job you are applying for and mirror the language as much as possible (while being honest and accurate about your skills and experience).
  • Keep your CV professional and in a simple format – make sure you tailor your cover letter and application to the company and role.
  • Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
  • Don’t be afraid to reach outside your immediate friends and family to other acquaintances and let them know you are looking for new opportunities.
  • Make sure you’ve set your LinkedIn profile to signal that you are “open to opportunities”. Also be sure to use LinkedIn to search for people who are still actively hiring by searching for those that have the headline “I’m hiring” or “We’re hiring” in their profile.
  • Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
  • Be professional and patient. Always be professional with whoever you are interacting with throughout your search process, this will be remembered. You need to be patient, dedicated and not give up on your search. Candidates need to make sure they are following up appropriately for roles they have applied.

Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz

TECH%20SPECS%3A%20APPLE%20WATCH%20SERIES%208
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Tamkeen's offering
  • Option 1: 70% in year 1, 50% in year 2, 30% in year 3
  • Option 2: 50% across three years
  • Option 3: 30% across five years 
The%20Last%20White%20Man
%3Cp%3EAuthor%3A%20Mohsin%20Hamid%C2%A0%3C%2Fp%3E%0A%3Cp%3E192%20pages%C2%A0%3C%2Fp%3E%0A%3Cp%3EPublished%20by%3A%20Hamish%20Hamilton%20(UK)%2C%20Riverhead%20Books%20(US)%3C%2Fp%3E%0A%3Cp%3ERelease%20date%3A%20out%20now%20in%20the%20US%2C%20August%2011%20(UK)%3C%2Fp%3E%0A

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.”

What the law says

Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.

“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.

“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”

If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.

COMPANY%20PROFILE
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The specs: McLaren 600LT

Price, base: Dh914,000

Engine: 3.8-litre twin-turbo V8

Transmission: Seven-speed automatic

Power: 600hp @ 7,500rpm

Torque: 620Nm @ 5,500rpm

Fuel economy 12.2.L / 100km

 

 

THE BIO:

Favourite holiday destination: Thailand. I go every year and I’m obsessed with the fitness camps there.

Favourite book: Born to Run by Christopher McDougall. It’s an amazing story about barefoot running.

Favourite film: A League of their Own. I used to love watching it in my granny’s house when I was seven.

Personal motto: Believe it and you can achieve it.

The Disaster Artist

Director: James Franco

Starring: James Franco, Dave Franco, Seth Rogan

Four stars

Jigra
Director: Vasan Bala
Starring: Alia Bhatt, Vedang Raina, Manoj Pahwa, Harsh Singh
Rated: 3.5/5
Company%20profile
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