This photo, taken on October 3, 2017, shows a member of the Afghan security forces escorting alleged ISIS and Taliban fighters in Jalalabad. Noorullah Shirzada / AFP
This photo, taken on October 3, 2017, shows a member of the Afghan security forces escorting alleged ISIS and Taliban fighters in Jalalabad. Noorullah Shirzada / AFP
This photo, taken on October 3, 2017, shows a member of the Afghan security forces escorting alleged ISIS and Taliban fighters in Jalalabad. Noorullah Shirzada / AFP
This photo, taken on October 3, 2017, shows a member of the Afghan security forces escorting alleged ISIS and Taliban fighters in Jalalabad. Noorullah Shirzada / AFP

US commander: Afghanistan would become ISIS haven if Trump exits


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The battle-hardened Army commander nominated to take over US military operations in Afghanistan warned senators Tuesday that if America leaves the fight too rapidly, there is a risk ISIS militants could merge with Al Qaeda and plan attacks against the US or its allies.

Lt. Gen. Scott Miller, a former Army Delta Force commando who heads US Joint Special Operations Command, told the Senate Armed Services Committee that, if confirmed, he'll reassess the troop numbers in Afghanistan to see if the force size is right.

Any abrupt US withdrawal, he said, could trigger consequences similar to what happened in Iraq in 2015. Three years after the US pulled all troops out of Iraq after negotiations with the government there failed, the Iraqi military collapsed and many forces ran or surrendered to ISIS as it seized swaths of territory across the country.

"A disorderly and precipitous withdrawal would have negative effects on US national security," Lt. Gen. Miller said. "I would be concerned about ISIS and Al Qaeda's ability to merge and project external operations – one, because I know they want to, and I know they're constantly looking for that opportunity."

Lt. Gen. Miller is expected to be easily approved by the Senate. He would take control of a war that has dragged on for 17 years and led to frustration and pointed questions about America's path to success there.

Sen. Jack Reed, D-R.I., said Lt. Gen. Miller will be taking over at a critical time. Even as the US has increased troop numbers and expanded programs to train and advise the Afghans. Reed said that independent assessments find few signs of progress and the Taliban continue to launch high-profile attacks.

"I understand our core goal in Afghanistan is to ensure terrorists can never again use Afghanistan as a safe haven to threaten the United States or other members of the international community," Lt. Gen. Miller said. "I believe military pressure is necessary to create the conditions for political reconciliation, so we enable the Afghans to build military capacity and they are better able to deny safe haven to terrorists."

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Lt. Gen. Miller said that he believes there has been progress on the core objective of preventing Al Qaeda and ISIS from gaining sanctuary in Afghanistan and preventing external attacks against the US.

"I have seen firsthand the terrorist threats coming from Afghanistan, and I know what's at stake," he told the committee.

A graduate of the US Military Academy at West Point and a veteran of numerous war tours, Lt. Gen. Miller said he has served about four years in Afghanistan. He said he never expected he would return there, 17 years after the conflict began.

As a member of the Army's elite Delta Force, Miller fought in Somalia in 1993 during the deadly battle made famous by the book and film "Black Hawk Down." He was wounded in battle in Somalia and received a Purple Heart and a Bronze Star with a "V," signifying heroism under fire. He also was wounded in Iraq in 2002, and received a second Purple Heart.

If confirmed by the Senate, Lt. Gen. Miller would be promoted to a full general. He would replace Gen. John Nicholson, who has led coalition forces in Afghanistan for more than two years and has overseen the latest increase in US forces.

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.”

War 2

Director: Ayan Mukerji

Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana

Rating: 2/5

Frankenstein in Baghdad
Ahmed Saadawi
​​​​​​​Penguin Press

EA Sports FC 26

Publisher: EA Sports

Consoles: PC, PlayStation 4/5, Xbox Series X/S

Rating: 3/5

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UAE SQUAD FOR ASIAN JIU-JITSU CHAMPIONSHIP

Men’s squad: Faisal Al Ketbi, Omar Al Fadhli, Zayed Al Kathiri, Thiab Al Nuaimi, Khaled Al Shehhi, Mohamed Ali Al Suwaidi, Farraj Khaled Al Awlaqi, Muhammad Al Ameri, Mahdi Al Awlaqi, Saeed Al Qubaisi, Abdullah Al Qubaisi and Hazaa Farhan

Women's squad: Hamda Al Shekheili, Shouq Al Dhanhani, Balqis Abdullah, Sharifa Al Namani, Asma Al Hosani, Maitha Sultan, Bashayer Al Matrooshi, Maha Al Hanaei, Shamma Al Kalbani, Haya Al Jahuri, Mahra Mahfouz, Marwa Al Hosani, Tasneem Al Jahoori and Maryam Al Amri

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WRESTLING HIGHLIGHTS
RESULT

Valencia 3

Kevin Gameiro 21', 51'

Ferran Torres 67'

Atlanta 4

Josip Llicic 3' (P), 43' (P), 71', 82'

The Rub of Time: Bellow, Nabokov, Hitchens, Travolta, Trump and Other Pieces 1986-2016
Martin Amis,
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6.30pm: Maiden Dh165,000 2,000m - Winner: Powderhouse, Sam Hitchcott (jockey), Doug Watson (trainer)

7.05pm: Handicap Dh165,000 2,200m - Winner: Heraldic, Richard Mullen, Satish Seemar

7.40pm: Conditions Dh240,000 1,600m - Winner: Walking Thunder, Connor Beasley, Ahmed bin Harmash

8.15pm: Handicap Dh190,000 2,000m - Winner: Key Bid, Fernando Jara, Ali Rashid Al Raihe

8.50pm: The Garhoud Sprint Listed Dh265,000 1,200m - Winner: Drafted, Sam Hitchcott, Doug Watson

9.25pm: Handicap Dh170,000 1,600m - Winner: Cachao, Tadhg O’Shea, Satish Seemar

10pm: Handicap Dh190,000 1,400m - Winner: Rodaini, Connor Beasley, Ahmed bin Harmash

BUNDESLIGA FIXTURES

Friday (all kick-offs UAE time)

Hertha Berlin v Union Berlin (10.30pm)

Saturday

Freiburg v Werder Bremen (5.30pm)

Paderborn v Hoffenheim (5.30pm)

Wolfsburg v Borussia Dortmund (5.30pm)

Borussia Monchengladbach v Bayer Leverkusen (5.30pm)

Bayern Munich v Eintracht Frankfurt (5.30pm)

Sunday

Schalke v Augsburg (3.30pm)

Mainz v RB Leipzig (5.30pm)

Cologne v Fortuna Dusseldorf (8pm)

 

 

Tamkeen's offering
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  • Option 2: 50% across three years
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