Houthi supporters shout anti-Saudi slogans during a rally in Sanaa.
Houthi supporters shout anti-Saudi slogans during a rally in Sanaa.

US: Iran improved Houthis' ability to hit Arab coalition seapower



A senior US general says Iran's support for Houthi rebels extends to helping them target ships belonging to the Saudi-led coalition fighting in Yemen.

General Robert Ashley, Director of the Defence Intelligence Agency, told the Senate Armed Services Committee that "low-cost, high-payoff support" from Tehran has helped the Houthis "improve their military and missile capabilities, demonstrated through missile launches against targets in Saudi Arabia and Saudi-led coalition ships in the Red Sea".

This now includes "anti-ship missiles, explosive-laden boats, and mines," he said, making the Yemen war a "threat to vital international shipping lanes through the Red Sea".
Gen Ashley said Iran's regional goals were undiminished.

"Iran is poised to wield the most power in a post-conflict environment" in Syria, he said.

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"We expect Iran to transition to efforts that secure and increase its long-term influence and to look for new opportunities to challenge its regional adversaries."
In Iraq, this will take form in Iran leveraging "its aligned PMF (Hasd Shaabi) and Shia militia groups, as well as its longstanding political and societal ties as its main avenues of influence to pressure Baghdad to expel US and coalition forces and prevent Kurdish separatism".

As the ISIL territorial threat recedes, Shia militia groups, including those loyal to Iran, "are likely to pose an increasing threat to US forces", the general said. 
And in Syria, Iran's presence "not only benefits the (Bashar Al) Assad regime, it represents a key step toward Iran's goal of a land bridge from Tehran through Iraq and Syria into Lebanon".
Gen Ashley said that after the nuclear deal - known as the Joint Comprehensive Plan of Action (JCPOA) - agreed in 2015 but enacted in January the following year, the Iranian government increased funding to its security forces. However, with the latest protests in Iran driven by economic difficulties, the US commander said spending on domestic programmes will remain the priority for Tehran in the near term.
With regard to Iran's military capabilities, Gen Ashley said that in 2017, Tehran tested and fielded its Russian-made SA-20c surface-to-air missile system.
In the long run, "Tehran is pursuing long-range, precision land-attack cruise missiles, which present a new type of threat in the region" and "is also developing more powerful space launch vehicles and technologies that enable development of long-range missile subsystems", he said.

His testimony came as President Donald Trump's government is consulting with regional partners on a counter-Iran strategy, and with European powers on measures to amend few provisions in the JCPOA or otherwise abandon it in May.

COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
RESULTS
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Power: 398hp from 5,250rpm
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Where can I submit a sample?

Volunteers can now submit DNA samples at a number of centres across Abu Dhabi. The programme is open to all ages.

Collection centres in Abu Dhabi include:

  • Abu Dhabi National Exhibition Centre (ADNEC)
  • Biogenix Labs in Masdar City
  • Al Towayya in Al Ain
  • NMC Royal Hospital in Khalifa City
  • Bareen International Hospital
  • NMC Specialty Hospital, Al Ain
  • NMC Royal Medical Centre - Abu Dhabi
  • NMC Royal Women’s Hospital.
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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.”

UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

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Cryopreservation: A timeline
  1. Keyhole surgery under general anaesthetic
  2. Ovarian tissue surgically removed
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  5. Full hormone production regained within 4-6 months
THE BIO: Martin Van Almsick

Hometown: Cologne, Germany

Family: Wife Hanan Ahmed and their three children, Marrah (23), Tibijan (19), Amon (13)

Favourite dessert: Umm Ali with dark camel milk chocolate flakes

Favourite hobby: Football

Breakfast routine: a tall glass of camel milk

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