Imaduldeen al Rashid (left) and Fedaa Majzoub of the Syrian National Salvation Congress at a news conference in Istanbul last month. Murad Sezer / Reuters
Imaduldeen al Rashid (left) and Fedaa Majzoub of the Syrian National Salvation Congress at a news conference in Istanbul last month. Murad Sezer / Reuters
Imaduldeen al Rashid (left) and Fedaa Majzoub of the Syrian National Salvation Congress at a news conference in Istanbul last month. Murad Sezer / Reuters
Imaduldeen al Rashid (left) and Fedaa Majzoub of the Syrian National Salvation Congress at a news conference in Istanbul last month. Murad Sezer / Reuters

Syrian uprisings inspire exiled anti-Assad opposition to come together


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ISTANBUL // When the former Syrian diplomat Bassam Bitar was stationed in Paris three decades ago, a secret policeman from the embassy knocked at his apartment door to deliver a thinly veiled death threat if he did not stop criticising the Assad family.
The embassy's operative "was advising me as a 'friend' to shut up or face consequences," said Mr Bitar, 55, recalling the day when the messager arrived at his suburban home just after he was sacked from his embassy job in May 1987.
"I spoke out against the Assads' racket of blackmail and illegal business deals. I lost my job and was deprived of seeing my country. Now Syrians are braving bullets for freedom and paying a much dearer price," Mr Bitar told Reuters.
He was talking in an Istanbul hotel lobby on the sidelines of a meeting last month that brought together opponents of President Bashar Al Assad from outside and inside Syria.
Mr Assad, who succeeded his late father, President Hafez Al Assad, in 2000, is struggling to crush a four-month-old revolt that is galvanising exiles to link up with underground street leaders and lend them organisational and moral support.
From Saudi-based Islamist scholars to savvy businessmen in Western capitals, and jeans-clad women activists living in Canada and the United States, the exiles mirror the diverse cultural, religious and social mix of Syria's population.
Today's protesters have inspired Syria's traditional opposition figures, sometimes seen as fractious, hidebound and cowed by memories of a bloody crackdown in Hama in 1982.
The Istanbul conference was the latest in a series of gatherings in Western capitals aimed at forging links between the street leaders in Syria and exiled dissidents abroad. Mr Bitar, a Christian from Aleppo, now sees an opportunity for real political change for the first time in decades. His hope of returning home has been rekindled as he organises protests in front of the White House.
"It's a very different opposition. The opposition today are all united in their goal of getting rid of this regime," said Mr Bitar, who has also been lobbying the US administration to tighten sanctions on the Assad family.
Efforts to draw exiles and street leaders together have not gone unnoticed by Mr Assad's security apparatus, which cracked down in the Damascus suburb of Qaboun on July 15, where activists had hoped to join the Istanbul conference via video link. They gave up the idea after security forces killed 14 protesters.
The uprising in Syria has helped resurrect a moribund opposition. It has also stimulated exiled dissidents to seek ways of bankrolling the revolt and coordinating with pro-democracy organisers on the ground.
Exiles based in countries as far-flung as Australia, Saudi Arabia, Canada and Kuwait sat around an Istanbul conference table with laptops and iPads, planning meetings and chatting on Skype with coordination committees inside Syria.
Yasser Saadeldine, an independent Islamist-leaning commentator based in Qatar, said exiles could redeem themselves by acting as "servants to the revolution".
The exiles received a boost when a travel ban was lifted this month on Haitham Al Maleh, a former judge who has spent a decade in jail for resisting the Assad family's monopoly on power and the ruling Baath Party's takeover of the judiciary.
Mr Maleh, who appeared at the Istanbul meeting only three months after his release, is playing a leading role in linking Assad's domestic and exiled foes.
"The opposition abroad is raising funds to sustain the rebels and help in broadening the civil disobedience that has already made some cities like Hama and Homs liberated areas," said Mr Maleh.The posh hotel venue showcased the financial and organisational clout of a prosperous younger generation of exiles who run businesses in the Gulf and Europe.
Among the activists is Osama Shorbaji, 32, who interrupted his studies for a doctorate degree in microbiology at Paris University to attend. He was arrested in 2003 with a group of young activists after campaigning to clean the streets of Daraya, a suburb of Damascus -- an initiative viewed as a subversive attempt to disrupt the municipality's work.
"I find the new generation of Syrian exiles much more liberated from the political and dogma the older generation cling to," Mr Shorbaji said.
Expatriate Syrians, who have run anti-Assad websites and supplied smuggled satellite phones to protest organisers, say they are also finding clandestine ways to finance disobedience campaigns.
In another sign of political maturity, debates over the shape of post-Assad Syria have induced the Muslim Brotherhood to embrace democratic principles and accept a civil society with a pledge that Islamic law would not be imposed.
In recent years, Syria's intelligence agents have worked to divide the various opposition groups, playing on their rivalries to plant doubt and leaving a legacy of suspicion still evident in their responses to an uprising that seems to have started as a spontaneous reaction to the Arab Spring.
Imadeddin Al Rashid, an Islamic law professor who recently left Syria and represents the latest wave of exiles, said a "long legacy of terror" against opposing views had left Syria without grassroots political activism for the last 50 years.
"The regime thrives on its fragmentation of the opposition," Mr Rashid said.

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Dhadak 2

Director: Shazia Iqbal

Starring: Siddhant Chaturvedi, Triptii Dimri 

Rating: 1/5

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Engine: 3.5-litre V6

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Torque: 356Nm @ 4,700rpm

Fuel economy, combined: 7.0L / 100km

The specs: 2018 Alfa Romeo Stelvio

Price, base: Dh198,300
Engine: 2.0L in-line four-cylinder
Transmission: Eight-speed automatic
Power: 280hp @ 5,250rpm
Torque: 400Nm @ 2,250rpm
Fuel economy, combined: 7L / 100km

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.”

MATCH INFO

Day 2 at the Gabba

Australia 312-1 

Warner 151 not out, Burns 97,  Labuschagne 55 not out

Pakistan 240 

Shafiq 76, Starc 4-52

'The Ice Road'

Director: Jonathan Hensleigh
Stars: Liam Neeson, Amber Midthunder, Laurence Fishburne

2/5

Scoreline

Bournemouth 2

Wilson 70', Ibe 74'

Arsenal 1

Bellerin 52'

WOMAN AND CHILD

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Starring: Parinaz Izadyar, Payman Maadi

Rating: 4/5

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Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

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Price: From Dh149,900

Credit Score explained

What is a credit score?

In the UAE your credit score is a number generated by the Al Etihad Credit Bureau (AECB), which represents your credit worthiness – in other words, your risk of defaulting on any debt repayments. In this country, the number is between 300 and 900. A low score indicates a higher risk of default, while a high score indicates you are a lower risk.

Why is it important?

Financial institutions will use it to decide whether or not you are a credit risk. Those with better scores may also receive preferential interest rates or terms on products such as loans, credit cards and mortgages.

How is it calculated?

The AECB collects information on your payment behaviour from banks as well as utilitiy and telecoms providers.

How can I improve my score?

By paying your bills on time and not missing any repayments, particularly your loan, credit card and mortgage payments. It is also wise to limit the number of credit card and loan applications you make and to reduce your outstanding balances.

How do I know if my score is low or high?

By checking it. Visit one of AECB’s Customer Happiness Centres with an original and valid Emirates ID, passport copy and valid email address. Liv. customers can also access the score directly from the banking app.

How much does it cost?

A credit report costs Dh100 while a report with the score included costs Dh150. Those only wanting the credit score pay Dh60. VAT is payable on top.

Scorebox

Dubai Hurricanes 31 Dubai Sports City Eagles 22

Hurricanes

Tries: Finck, Powell, Jordan, Roderick, Heathcote

Cons: Tredray 2, Powell

Eagles

Tries: O’Driscoll 2, Ives

Cons: Carey 2

Pens: Carey