Who really benefits from Gulf's huge US arms deals?



The US State Department confirmed this week that the US will sell Saudi Arabia 84 F-15 fighter jets and upgrade 70 existing aircraft of the same type, in addition to 70 Apache attack helicopters and various missiles and military equipment in an unprecedented $60 billion deal, observed the pan-Arab daily Al Quds al Arabi.

Arms deals of this size, mainly with Gulf countries, serve two main US objectives. Firstly, the deals reinforce these countries' military capabilities to counter growing Iranian power. Secondly, they create more than 70,000 much-needed jobs in the US.

US State Department officials were highly confident that their Israeli allies would not object to the deal since Washington had pre-emptive talks with Israel's defence minister to ensure his government's approval.

The Israeli approval came at a price, as Israel was able to secure a $15.5 billion deal for F-35 state-of-the-art undetectable aircrafts, which would promote its aerial supremacy in the region. Israel was also assured that the Saudi aircrafts would be modified in a way to reduce their capability to strike targets inside Israel.

The Saudi kingdom indeed needs modern weapons to reinforce its security. Such arms deals are within its right. But what it mostly needs is to adopt a more open policy toward the Palestinian cause and to take effective measures to end Gaza's siege.

Dialogue with Taliban is still preliminary

Intensified negotiations are going on currently between the Afghan president Hamid Karzai's inner circle and a number of powerful leaders within the Taliban, observed the columnist Mazen Hammad in an article for the Qatari daily Al Watan.

The current attempt at negotiations is the most crucial since the start of the Afghan war nine years ago. Observers believe that the biggest hindrance in these meetings is that many of the Taliban believe that they are winning the war, which dampens their willingness to strike a deal with Kabul. For this reason, some believe the talks are doomed to failure despite all the facilities provided by Nato and Washington, since the success of negotiations would ultimately end the war.

US reports reveal that Taliban leaders reside across the border in Pakistan where they enjoy security from the Pakistani intelligence service. They are being transported to Kabul in Nato airplanes and under the protection of Nato and the Afghan government.

The New York Times admits to having identified the Taliban leaders engaged in negotiations but, at the request of the White House and the Afghan government, it refrained from making the names public as it would put them at risk of assassination.

The talks are still at a preliminary stage partly because US and Afghan officials are trying to gauge the power of the Taliban negotiators at this point.

Will Hariri resign or will his cabinet fall?

A series of events during the last week led Washington to fear that a decision has already been taken about overthrowing Saad Hariri's cabinet, commented Joe Makaroun in an article for the Lebanese daily Assafir.

The main source for concern is a meeting of the Lebanese prime minister and the assistant secretary of state, Jeffrey Feltman, at Mr Hariri's residence in Riyadh during which Mr Hariri admitted that he was thinking about resigning and that the Saudi Arabians had suggested as much.

He added that he ws serious about this likely measure, but he fears that Hizbollah would then form a majority cabinet, which would have damaging implications domestically and externally.

The US fears that the government could collapse. For that reason, it has been repeatedly reiterating its support for Lebanon's stability and sovereignty.

Scenarios for the upcoming phase in Lebanese politics are varied. It is likely that Mr Hariri would remain in office and that the International Tribunal indictments are issued and will lead to violence. It is also possible that he remains in office but relinquishes the International Tribunal. A third possibility is that he could resign and preserve his late father's heritage.

The US advice to Mr Hariri at this point is to remain in office, but the fact is that there are many factors in Beirut that are not under the control of the US administration.

Insult to Islam should be held to account

In an article for the pan-Arab daily Al Hayat, columnist Daoud al Sharyan wrote: "The Fox News host Brian Kilmeade insulted Muslims on the air last week when he said, 'All terrorists are Muslims.' He later apologised simply by saying, 'not all terrorists are Muslims. I'm sorry about that if it offended or hurt anybody's feelings. But that's it.'"

Fox News management attempted to mitigate the affront by announcing through one of its officials that Mr Kilmeade was referring to radical extremists who killed Americans on 9/11.

Nonetheless, a mere apology will not cut it. Fox News is required to dismiss Kilmeade immediately just as Helen Thomas was asked to resign for making anti-Jewish comments and just as the CNN host Octavia Nasr was fired for expressing a personal opinion about the late Grand Ayatollah Mohammed Hussein Fadlallah of Lebanon earlier this year.

It is necessary that western media abide by the rules they impose upon the rest of the world. It should sanction those who offend Islam the same way they would sanction anyone who dares to offend Judaism or Christianity. Showing leniency toward a public personality who dubs all Muslims as terrorists encourages aberrant voices that instigate discrimination and violence.

* Digest compiled by Racha Makarem

Game Changer

Director: Shankar 

Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram

Rating: 2/5

Visit Abu Dhabi culinary team's top Emirati restaurants in Abu Dhabi

Yadoo’s House Restaurant & Cafe

For the karak and Yoodo's house platter with includes eggs, balaleet, khamir and chebab bread.

Golden Dallah

For the cappuccino, luqaimat and aseeda.

Al Mrzab Restaurant

For the shrimp murabian and Kuwaiti options including Kuwaiti machboos with kebab and spicy sauce.

Al Derwaza

For the fish hubul, regag bread, biryani and special seafood soup. 

If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.

When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.

How to get there: Emirates currently flies from Dubai to Orlando five times a week.
John%20Wick%3A%20Chapter%204
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Chad%20Stahelski%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Keanu%20Reeves%2C%20Laurence%20Fishburne%2C%20George%20Georgiou%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E4%2F5%3C%2Fp%3E%0A
How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
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Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
WHY%20AAYAN%20IS%20'PERFECT%20EXAMPLE'
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Vidaamuyarchi

Director: Magizh Thirumeni

Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra

Rating: 4/5

 

Paatal Lok season two

Directors: Avinash Arun, Prosit Roy 

Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong

Rating: 4.5/5

MATCH INFO

Everton v Tottenham, Sunday, 8.30pm (UAE)

Match is live on BeIN Sports

RACECARD

6pm Emaar Dubai Sprint – Conditions (TB) $60,000 (Turf) 1,200m

6.35pm Graduate Stakes – Conditions (TB) $100,000 (Dirt) 1,600m

7.10pm Al Khail Trophy – Listed (TB) $100,000 (T) 2,810m

7.45pm UAE 1000 Guineas – Listed (TB) $150,000 (D) 1,600m

8.20pm Zabeel Turf – Listed (TB) $100,000 (T) 2,000m

8.55pm Downtown Dubai Cup – Rated Conditions (TB) $80,000 (D) 1,400m

9.30pm Zabeel Mile – Group 2 (TB) $180,000 (T) 1,600m

10.05pm Dubai Sprint – Listed (TB) $100,000 (T) 1,200m 

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The Sand Castle

Director: Matty Brown

Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea

Rating: 2.5/5

The Disaster Artist

Director: James Franco

Starring: James Franco, Dave Franco, Seth Rogan

Four stars

Kibsons%20Cares
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Where to submit a sample

Volunteers of all ages can submit DNA samples at centres across Abu Dhabi, including: Abu Dhabi National Exhibition Centre (Adnec), Biogenix Labs in Masdar City, NMC Royal Hospital in Khalifa City, NMC Royal Medical Centre, Abu Dhabi, NMC Royal Women's Hospital, Bareen International Hospital, Al Towayya in Al Ain, NMC Specialty Hospital, Al Ain

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.”

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The specs

Engine: Direct injection 4-cylinder 1.4-litre
Power: 150hp
Torque: 250Nm
Price: From Dh139,000
On sale: Now

The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
COMPANY%20PROFILE
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MO
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Guide to intelligent investing
Investing success often hinges on discipline and perspective. As markets fluctuate, remember these guiding principles:
  • Stay invested: Time in the market, not timing the market, is critical to long-term gains.
  • Rational thinking: Breathe and avoid emotional decision-making; let logic and planning guide your actions.
  • Strategic patience: Understand why you’re investing and allow time for your strategies to unfold.
 
 
Cryopreservation: A timeline
  1. Keyhole surgery under general anaesthetic
  2. Ovarian tissue surgically removed
  3. Tissue processed in a high-tech facility
  4. Tissue re-implanted at a time of the patient’s choosing
  5. Full hormone production regained within 4-6 months