What's on George Mitchell's mind this time around?


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Soon after the deferral of George Mitchell's visit to the Middle East was announced, the diplomat suddenly landed in the region last week, a move that points to a small aperture opening up in the stone wall of the peace process, wrote Hussam Kanfani in the Palestinian newspaper Al Quds. "The nature of that little aperture is not clear yet, but it seems very likely that Mr Mitchell's advisers, David Hale and Dan Shapiro, had briefed him on new developments and proposals, making him expedite plans to meet with Palestinian and Israeli officials."

There are two probable reasons for his shuttle diplomacy this time around. First, the US envoy may be carrying a message from Washington, urging Israel to respond to a list of US demands aimed at establishing Israel's commitment to the peace process. But the second scenario is far more plausible. It has to do with some new "tortuous settlement" deal, which Mr Mitchell's advisers may have brokered between the two parties to the conflict.

The broad lines of this new deal have been circulated in the Israeli press a few days back. It mainly consists of a pitch by the Israeli prime minister Benjamin Netanyahu agreeing to the establishment of a provisional Palestinian state as long as talks about the status of Jerusalem are postponed. "This is a proposal that would simply adjourn the crisis for several months."

Iraqi government officials have been trying to spread the idea that last Friday's bomb attacks in Sadr City and Al Anbar province, which left some 200 casualties killed and wounded, are some of the last desperate suicide operations to be undertaken by al Qa'eda, wrote Mazen Hammad, a columnist with the Qatari newspaper Al Watan. "But this idea doesn't hit home with the Iraqis anymore. They've heard similar claims before whenever the US-Iraqi forces manage to kill an al Qa'eda member."

This last round of bomb attacks, which proved that al Qa'eda is still able to hit hard, however undermined its resources may be, comes at a time when Iraqi politicians are still stuck in the impasse of forming a government, six weeks after the parliamentary elections were held. Now, amid concerns about the amount of time it will take parties and political blocs to form a new parliament and government, all sorts of extremists, most importantly al Qa'eda, are taking advantage of this political vacuum to ignite a sectarian war between the Sunnis and Shiites. This was further fuelled by the recent revelation of a prison in Mosul, now closed, where Arab Sunnis had been secretly detained. Washington keeps saying that the recent unrest is not disrupting its plan to reduce its troops by 50,000 come August, not minding the fact that al Qa'eda's networks are still alive and kicking.

Egypt is celebrating the 28th anniversary of the liberation of the Sinai peninsula from Israeli occupation. The Egyptian president Hosni Mubarak gave a speech on the occasion last Saturday and the local newspapers have been teeming with columns and stories commemorating this remarkable achievement, wrote the London-based newspaper Al Quds al Arabi in its editorial.

The liberation of Sinai came at the cost of many Egyptian lives during combat, both in 1967 and 1973. But the peace treaties that ensued between Egypt and Israel are said to have undermined Egypt's leadership role in the region. "The Egyptian people did not benefit that much from the recovery of Sinai and the Sinai communities perhaps even less." Of course, Cairo has regained full control over its oil wells and gas fields in Sinai, but, by virtue of these peace treaties, such resources are sold to Israel at prices far below the international market rates.

Now, if the provisions of the said agreements prevent the Egyptian authorities from deploying additional troops in the area to make sure it remains an arms-free zone, one wonders why doesn't the Egyptian government play around these provisions by transferring millions of Egyptians to the western side of the Suez Canal to alleviate the increasing population density along the Nile banks?

Two weeks after the Somali Islamic Youth Movement placed a ban on music in radio stations across the country, Al Sayed Ould Abbah, a columnist with the Emirati daily Al Ittihad, wrote an article surveying similar "extremist practices" that have been intruding on many Islamic nations. In Saudi Arabia, there are calls to demolish the Holy Mosque in Mecca and rebuild it in a way that ensures the separation of men and women. In Iran, as soon as the revolutionary government was formed in the late 1970s, it proceeded to ban musical recordings. In the Najaf region in Iraq, fundamentalist ideologues are preaching a strict way of life reminiscent of ancient times.

"Islam, in all these instances, is presented as an anti-life religion, which can only be maintained through isolation and austerity." The writer criticised such proscriptions on the creative arts, arguing that the arts have always been intrinsic to Islamic culture and can be found in Islamic literature, poetry and mystical writings. As for gender mixing in public spaces, it is essential for the sustainability of any society.

"Mainstream sermons are actually contributing to diffusion of a culture of sorrow, fear and hatred." These must be replaced by a culture of joyfulness and hope. * Digest compiled by Achraf A El Bahi aelbahi@thenational.ae

Other acts on the Jazz Garden bill

Sharrie Williams
The American singer is hugely respected in blues circles due to her passionate vocals and songwriting. Born and raised in Michigan, Williams began recording and touring as a teenage gospel singer. Her career took off with the blues band The Wiseguys. Such was the acclaim of their live shows that they toured throughout Europe and in Africa. As a solo artist, Williams has also collaborated with the likes of the late Dizzy Gillespie, Van Morrison and Mavis Staples.
Lin Rountree
An accomplished smooth jazz artist who blends his chilled approach with R‘n’B. Trained at the Duke Ellington School of the Arts in Washington, DC, Rountree formed his own band in 2004. He has also recorded with the likes of Kem, Dwele and Conya Doss. He comes to Dubai on the back of his new single Pass The Groove, from his forthcoming 2018 album Stronger Still, which may follow his five previous solo albums in cracking the top 10 of the US jazz charts.
Anita Williams
Dubai-based singer Anita Williams will open the night with a set of covers and swing, jazz and blues standards that made her an in-demand singer across the emirate. The Irish singer has been performing in Dubai since 2008 at venues such as MusicHall and Voda Bar. Her Jazz Garden appearance is career highlight as she will use the event to perform the original song Big Blue Eyes, the single from her debut solo album, due for release soon.

Company Fact Box

Company name/date started: Abwaab Technologies / September 2019

Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO

Based: Amman, Jordan

Sector: Education Technology

Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed

Stage: early-stage startup 

Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.

SPEC%20SHEET%3A%20SAMSUNG%20GALAXY%20Z%20FOLD5
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Sustainable Development Goals

1. End poverty in all its forms everywhere

2. End hunger, achieve food security and improved nutrition and promote sustainable agriculture

3. Ensure healthy lives and promote well-being for all at all ages

4. Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all

5. Achieve gender equality and empower all women and girls

6. Ensure availability and sustainable management of water and sanitation for all

7. Ensure access to affordable, reliable, sustainable and modern energy for all

8. Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all

9. Build resilient infrastructure, promote inclusive and sustainable industrialisation and foster innovation

10. Reduce inequality  within and among countries

11. Make cities and human settlements inclusive, safe, resilient and sustainable

12. Ensure sustainable consumption and production patterns

13. Take urgent action to combat climate change and its effects

14. Conserve and sustainably use the oceans, seas and marine resources for sustainable development

15. Protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reverse land degradation and halt biodiversity loss

16. Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels

17. Strengthen the means of implementation and revitalise the global partnership for sustainable development

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Name: Hassan Mohsen Elhais

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

MEFCC information

Tickets range from Dh110 for an advance single-day pass to Dh300 for a weekend pass at the door. VIP tickets have sold out. Visit www.mefcc.com to purchase tickets in advance.

'Moonshot'

Director: Chris Winterbauer

Stars: Lana Condor and Cole Sprouse 

Rating: 3/5

Greatest Royal Rumble match listing

50-man Royal Rumble - names entered so far include Braun Strowman, Daniel Bryan, Kurt Angle, Big Show, Kane, Chris Jericho, The New Day and Elias

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Casket match The Undertaker v Rusev

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Cruiserweight Championship Cedric Alexander v Kalisto

UAE currency: the story behind the money in your pockets
Infiniti QX80 specs

Engine: twin-turbocharged 3.5-liter V6

Power: 450hp

Torque: 700Nm

Price: From Dh450,000, Autograph model from Dh510,000

Available: Now

Top Hundred overseas picks

London Spirit: Kieron Pollard, Riley Meredith 

Welsh Fire: Adam Zampa, David Miller, Naseem Shah 

Manchester Originals: Andre Russell, Wanindu Hasaranga, Sean Abbott

Northern Superchargers: Dwayne Bravo, Wahab Riaz

Oval Invincibles: Sunil Narine, Rilee Rossouw

Trent Rockets: Colin Munro

Birmingham Phoenix: Matthew Wade, Kane Richardson

Southern Brave: Quinton de Kock

The biog

Favourite book: Homegoing by Yaa Gyasi

Favourite holiday destination: Spain

Favourite film: Bohemian Rhapsody

Favourite place to visit in the UAE: The beach or Satwa

Children: Stepdaughter Tyler 27, daughter Quito 22 and son Dali 19

Syria squad

Goalkeepers: Ibrahim Alma, Mahmoud Al Youssef, Ahmad Madania.
Defenders: Ahmad Al Salih, Moayad Ajan, Jehad Al Baour, Omar Midani, Amro Jenyat, Hussein Jwayed, Nadim Sabagh, Abdul Malek Anezan.
Midfielders: Mahmoud Al Mawas, Mohammed Osman, Osama Omari, Tamer Haj Mohamad, Ahmad Ashkar, Youssef Kalfa, Zaher Midani, Khaled Al Mobayed, Fahd Youssef.
Forwards: Omar Khribin, Omar Al Somah, Mardik Mardikian.

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.”

Favourite things

Luxury: Enjoys window shopping for high-end bags and jewellery

Discount: She works in luxury retail, but is careful about spending, waits for sales, festivals and only buys on discount

University: The only person in her family to go to college, Jiang secured a bachelor’s degree in business management in China

Masters: Studying part-time for a master’s degree in international business marketing in Dubai

Vacation: Heads back home to see family in China

Community work: Member of the Chinese Business Women’s Association of the UAE to encourage other women entrepreneurs

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Martin Sabbagh profile

Job: CEO JCDecaux Middle East

In the role: Since January 2015

Lives: In the UAE

Background: M&A, investment banking

Studied: Corporate finance

SPECS

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Power: 235hp
Torque: 350Nm
Transmission: Nine-speed automatic
Price: From Dh167,500 ($45,000)
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About Takalam

Date started: early 2020

Founders: Khawla Hammad and Inas Abu Shashieh

Based: Abu Dhabi

Sector: HealthTech and wellness

Number of staff: 4

Funding to date: Bootstrapped

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