SANA'A // Ali Abdullah Saleh, Yemen's president, warned he would crush activists calling for southern independence while he offered to engage them in dialogue over their demands.
"The separatist flags are going to burn in the days and weeks ahead. We have one flag we voted on with our free will," Mr Saleh said in an address at a military academy on Monday.
"Come talk with your brothers in the authority, and we will talk with you. We extend the hand of dialogue without [your] having to resort to violence or blocking roads or raising the flag of separation."
Mr Saleh said his government would form local committees to talk with the southern activists. "If there are any political demands, they are welcome. Come to dialogue.
"We reject the spreading of the culture of hate, racism and regionalism." In 1990, the Marxist-led south and tribal-dominated north made peace after years of fighting to form Yemen, but the deal between the People's General Congress and the Yemeni Socialist Party fell apart and a political crisis developed, leading to civil war in 1994.
The socialists were crushed by the army of the present president, Mr Saleh, and since then, the south has long decried neglect and overbearing tactics by the government in Sana'a.
Mr Saleh formed special fact-finding committees in 2007 to study problems in the south. The committees recommended that 15 senior officials responsible for those wrongs should be ousted if Mr Saleh wanted to maintain unity. None has yet to be held accountable.
For the past three years, the southern part of Yemen has been hit by increasingly angry protests by people complaining about economic and political marginalisation. Dozens have been killed and hundreds arrested in confrontations between southern protesters and police since then.
Mr Saleh's offer this week comes after repeated clashes between government troops and activists of the Southern Movement, which is an umbrella organisation that embraces several secessionist groups. The violence left dozens of dead and wounded on both sides in recent weeks, as protests escalated and authorities rounded up scores of southern activists.
At the end of last month, more than 90 people were arrested during a rash of widespread and massive demonstrations. Last week, a series of government clampdowns left at least five separatists dead, including a leader and an arms dealer and members of their families - events that have enraged locals and fuelled more demonstrations in the region.
Three people, including two policemen, were killed in southern Yemen on Thursday in armed clashes between separatists and police in Lahj, while in Shabwa province, to the east, police and demonstrators exchanged fire in Mayfah. Two policemen died as they attempted to flee, but their vehicle overturned.
The government declared a state of emergency last week in Dhal'e, after an outbreak of protests. Scores of people were arrested after troops came under fire and shops were torched. The state of emergency remains in force.
The government intensified its campaign against Southern Movement activists and said it arrested 27 in the past few days in Abyan, Lahj and Dhal'e, according to the ministry of interior.
It was difficult to get any comment from Southern Movement leaders as the government continues to close mobile phone services in the three tense provinces.
While Mr Saleh called for dialogue with the separatists, he launched a ruthless attack on the Joint Meeting Parties (JMP), an opposition coalition of six parties, including the Islamist Islah Party. Mr Saleh accused the JMP of supporting al Houthi Shiite insurgents in the north and separatists in the south to blackmail his government.
Mohammed al Sabri, a leading politician in the JMP, said the president's call for dialogue is not serious.
"I do not know how he calls for dialogue while the government continues cracking down on the Southern Movement activists. The government is not working to defuse tension all over the country but such a speech is fuelling tension and unrest," Mr al Sabri said.
The JMP called on Saturday for nationwide protests in support of the southern activists, accusing the government of exercising "brutal crackdown against the peaceful movement protesters".
Mohammed Aeysh, an independent political analyst, said the government is facing international pressure to talk with the opposition and separatists.
"The attack of the president on the JMP is an attempt to say the government is in a position where it is able to impose its own conditions at the expected dialogue. The JMP is intensifying its attack on the government to achieve good results during dialogue," he said.
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It has 40 members, eight of whom are women. The members represent the UAE population through each of the emirates. Abu Dhabi and Dubai have eight members each, Sharjah and Ras al Khaimah six, and Ajman, Fujairah and Umm Al Quwain have four.
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The more serious side of specialty coffee
While the taste of beans and freshness of roast is paramount to the specialty coffee scene, so is sustainability and workers’ rights.
The bulk of genuine specialty coffee companies aim to improve on these elements in every stage of production via direct relationships with farmers. For instance, Mokha 1450 on Al Wasl Road strives to work predominantly with women-owned and -operated coffee organisations, including female farmers in the Sabree mountains of Yemen.
Because, as the boutique’s owner, Garfield Kerr, points out: “women represent over 90 per cent of the coffee value chain, but are woefully underrepresented in less than 10 per cent of ownership and management throughout the global coffee industry.”
One of the UAE’s largest suppliers of green (meaning not-yet-roasted) beans, Raw Coffee, is a founding member of the Partnership of Gender Equity, which aims to empower female coffee farmers and harvesters.
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Education: Sagesse University, Beirut, Lebanon, in 2005.
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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.”
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