Syrian foreign minister Walid Muallem sits beneath a portrait of Syrian president Bashar Al Assad as he speaks during a press conference in Damascus on March 12, 2016. SANA via AP
Syrian foreign minister Walid Muallem sits beneath a portrait of Syrian president Bashar Al Assad as he speaks during a press conference in Damascus on March 12, 2016. SANA via AP

Syrian regime says Assad ouster is a ‘red line’ ahead of peace talks



DAMASCUS // The Syrian government on Saturday said the ouster of president Bashar Al Assad remains a “red line” just two days ahead of renewed talks aimed at ending the conflict.

The UN-brokered negotiations in Geneva are the latest push by the international community to find a solution to Syria’s five-year war, which has killed more than 270,000 people.

Both the government and the main opposition grouping, which is being represented by the High Negotiations Committee (HNC) at negotiations, have agreed to attend the talks after the last round collapsed in February.

Chief opposition negotiator Mohammad Alloush and HNC delegation head Asaad Al Zoabi were in Geneva on Saturday.

“The regime was counting on the opposition not to come to Geneva ... but it is here, and it will have a united stance, vision, and negotiating strategy,” said HNC delegation member Hassan Abdel Azim.

The HNC has repeatedly called for Mr Al Assad’s departure at the start of any transitional period, but Syria’s foreign minister said that was out of the question.

“We will not talk with anyone who wants to discuss the presidency ... Bashar Al Assad is a red line,” said Walid Muallem.

“If they continue with this approach, there’s no reason for them to come to Geneva.”

He said the government delegation would go to Switzerland on Sunday.

Despite their appearing to be no common ground between the two camps, however, US secretary of state John Kerry appeared hopeful on Saturday that progress would be made at the talks.

Ending a visit to Saudi Arabia on Saturday, Mr Kerry said he had discussed developments in Syria with Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs, Saudi King Salman, and top Saudi officials.

“We believe that the start of talks this next week in Geneva presents a critical moment for bringing the political solution to the table that we’ve all been waiting for,” he said.

He added that progress on the transitional government should take place “as soon as possible”.

Saudi foreign minister Adel Al Jubeir, meanwhile, said: “I would emphasise that people see the future of Syria without Bashar Al Assad.”

UN peace envoy Staffan de Mistura said the meetings in Geneva would not last more than 10 days.

The negotiations, if they take place, will cover the formation of a new government, a fresh constitution and UN-monitored presidential and parliamentary elections within 18 months, Mr de Mistura said.

However, Mr Muallem said the UN envoy had “no right” to discuss future presidential elections.

“Neither he nor anyone else, whoever they may be, has the right to discuss presidential elections,” he said. “This right is exclusively for the Syrian people.”

The foreign minister said the negotiations would aim to form a “unity government” which would then appoint a committee to either write a new constitution or amend the existing one.

“Then we will have a referendum for the Syrian people to decide on it,” he said, adding that a federal division of Syria was not an option.

The HNC has also insisted on Syria’s territorial unity, but says talks must create a “transitional governance body with full executive powers”.

Chief opposition negotiator Mr Alloush said Mr Muallem’s comments were “ridiculous and show that the regime is not serious about the political process”.

Also on Saturday, Mr de Mistura told Swiss newspaper Le Temps that although Syria's Kurds were not invited to talks, they should be given the opportunity to voice their views on the country's political future.

Regime backer Russia had called on Mr de Mistura to include Syrian Kurdish representatives in peace talks.

Despite the lack of political consensus, violence in Syria has decreased since a landmark truce between the regime and rebels across parts of the country began two weeks ago.

Brokered by the United States and Russia, which back opposing sides in the conflict, the cessation of hostilities appears to be largely holding despite accusations of violations.

Ending a visit to Saudi Arabia on Saturday, Mr Kerry said US and Russian officials would meet later in the day to discuss opposition complaints of truce violations.

“Our teams are meeting today with Russia in both Geneva and Amman, where very detailed lay downs will take place regarding these allegations,” he said.

Air raids by the Syrian regime killed seven civilians in rebel-held areas of Aleppo on Friday, the Syrian Observatory for Human Rights said.

The Britain-based monitoring group also said a rebel group was claiming to have shot down a regime warplane in central Hama province, but a pro-government Facebook page blamed “technical difficulties”.

Mr Kerry said “perceived” violations of the truce should not derail the peace talks, however.

“The level of violence by all accounts has been reduced by 80 to 90 per cent, which is very, very significant,” he said.

The UN’s top humanitarian officials said on Friday that the truce had brought “fragile glimmers of hope” to the humanitarian situation, but “it is just not enough”.

* Agence France-Presse

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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.

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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.

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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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Name: HyveGeo
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History's medical milestones

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1861 - Louis Pasteur published his germ theory which proved that bacteria caused diseases

1895 - Discovery of x-rays

1923 - Heart valve surgery performed successfully for first time

1928 - Alexander Fleming discovers penicillin

1953 - Structure of DNA discovered

1952 - First organ transplant - a kidney - takes place 

1954 - Clinical trials of birth control pill

1979 - MRI, or magnetic resonance imaging, scanned used to diagnose illness and injury.

1998 - The first adult live-donor liver transplant is carried out

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