WASHINGTON// A week before Afghanistan's national elections, Richard Holbrooke, the US special envoy to Afghanistan and Pakistan, said the vote will be a critical way to legitimise the Afghan government and jump-start US efforts to stabilise the country.
"Any issues that we would like to focus on: anti-corruption, a national reintegration amnesty programme, improving the government at the subcentral level ? we are working on them, but until an election legitimises the government, whoever wins, we have had to focus on that," said Mr Holbrooke, who appeared yesterday at a press conference hosted by the Center for American Progress, a Washington-based think tank. "This election matters and we will see what happens."
Mr Holbrooke warned of potential complications and "disputes", noting that such problems are inevitable in a wartime election that involves 41 candidates.
"Holding an election in a wartime situation is always difficult and holding one when the enemy says they are going to try to disrupt it makes it even more difficult," said Mr Holbrooke, a former UN ambassador under Bill Clinton who helped broker the 1995 peace deal that ended the war in Bosnia.
Still he said he agreed with Barack Obama, the US president, when he characterised the election as the most important event in Afghanistan this year.
In January, Afghan officials chose to postpone the national election citing security concerns, a move that Mr Holbrooke said threatened to undermine the Afghan constitution, which mandates that a vote occur within 30 to 60 days of the end of the presidential term. Hamid Karzai's term technically expired in May.
Even as he sounded warnings, however, Mr Holbrooke praised the administration's new, broader approach to Afghanistan, which includes efforts to disrupt "illicit finances" and a new communications effort aimed at countering Taliban propaganda.
He was especially upbeat about a shift in focus away from eradicating poppy - which provides a vital source of funding to the Taliban - to new US efforts to increase agricultural production of other crops and improve business opportunities for Afghan farmers.
"This is most successful thing we have done so far," Mr Holbrooke said. His appearance and more positive tone comes amid rising violence in Afghanistan and concerns here that the war effort is not going well. In July, 44 American soldiers died in Afghanistan, the highest one-month total since the war began in 2001. Nineteen US soldiers have already died there in August, according to the website icasualties.org
Pressure has mounted on Mr Obama, who has ordered 21,000 additional troops to Afghanistan, to spell out a clearer policy, including plans for an eventual exit strategy. Mr Holbrooke said he was keenly aware that the American people expect more tangible results.
"We all feel the impatience and pressure of the American public and the Congress, which legitimately wants to see progress," he said.
He also stressed the importance of Mr Obama's dual focus on Western Pakistan, where al Qa'eda and the Taliban have found a safe haven and where US troops are strictly prohibited. He touted as a major victory the reported assassination of Beitullah Meshud, the Taliban leader in Pakistan.
But he was also careful not to sound overly optimistic at a time when many are questioning the prospects for US success.
"I am not here today to tell you we are winning or we are losing. We're not here to say we are optimistic or pessimistic," he said. We are here to say that we are in this fight in a different way with a determination to succeed under direct personal supervision of the president."
Earlier this week, the Wall Street Journal ran a front-page story paraphrasing Gen Stanley McChrystal, the top US commander in Afghanistan, as saying the Taliban has gained the upper hand. The article, entitled "Taliban Now Winning", prompted a swift response from the Pentagon, which argued that Gen McChrystal's words were taken out of context. The fallout illustrated the high stakes in the battle to shape perceptions of the war effort back home.
Later this month, Gen McChrystal will present the results of his "strategic assessment" of the war effort to the president. He is expected to request additional troops, with some speculating the number could be around 10,000 or more.
There also are reports that Mr Obama is being urged to double the number of civilian advisers in the country.
The US ambassador in Kabul, Karl Eickenberry, has asked the administration for additional $2.5 billion (Dh9.2bn) in non-military spending for 2010, 60 per cent more than Mr Obama had requested, according a report in The Washington Post.
Mr Holbrooke praised Gen McChrystal's effort to "protect the population", or limit the number of civilian casualties. He said those efforts made it easier to conduct civilian operations in Afghanistan.
"The best counter-propaganda is to reduce civilian casualties," he said. "The rules of engagement have changed in a way which has produced a result on the ground."
sstanek@thenational.ae
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.”
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
Key figures in the life of the fort
Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.
Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.
Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.
Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.
Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.
Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.
Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.
Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.
Sources: Jayanti Maitra, www.adach.ae
Company%20Profile
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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.
Paatal Lok season two
Directors: Avinash Arun, Prosit Roy
Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong
Rating: 4.5/5
The specs
Engine: 3.8-litre twin-turbo flat-six
Power: 650hp at 6,750rpm
Torque: 800Nm from 2,500-4,000rpm
Transmission: 8-speed dual-clutch auto
Fuel consumption: 11.12L/100km
Price: From Dh796,600
On sale: now
SPECS
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Scores in brief:
- New Medical Centre 129-5 in 17 overs bt Zayed Cricket Academy 125-6 in 20 overs.
- William Hare Abu Dhabi Gymkhana 188-8 in 20 overs bt One Stop Tourism 184-8 in 20 overs
- Alubond Tigers 138-7 in 20 overs bt United Bank Limited 132-7 in 20 overs
- Multiplex 142-6 in 17 overs bt Xconcepts Automobili 140 all out in 20 overs
Dirham Stretcher tips for having a baby in the UAE
Selma Abdelhamid, the group's moderator, offers her guide to guide the cost of having a young family:
• Buy second hand stuff
They grow so fast. Don't get a second hand car seat though, unless you 100 per cent know it's not expired and hasn't been in an accident.
• Get a health card and vaccinate your child for free at government health centres
Ms Ma says she discovered this after spending thousands on vaccinations at private clinics.
• Join mum and baby coffee mornings provided by clinics, babysitting companies or nurseries.
Before joining baby classes ask for a free trial session. This way you will know if it's for you or not. You'll be surprised how great some classes are and how bad others are.
• Once baby is ready for solids, cook at home
Take the food with you in reusable pouches or jars. You'll save a fortune and you'll know exactly what you're feeding your child.
COMPANY%20PROFILE
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Mountain%20Boy
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Water waste
In the UAE’s arid climate, small shrubs, bushes and flower beds usually require about six litres of water per square metre, daily. That increases to 12 litres per square metre a day for small trees, and 300 litres for palm trees.
Horticulturists suggest the best time for watering is before 8am or after 6pm, when water won't be dried up by the sun.
A global report published by the Water Resources Institute in August, ranked the UAE 10th out of 164 nations where water supplies are most stretched.
The Emirates is the world’s third largest per capita water consumer after the US and Canada.
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
The specs
Engine: Four electric motors, one at each wheel
Power: 579hp
Torque: 859Nm
Transmission: Single-speed automatic
Price: From Dh825,900
On sale: Now
Fighting with My Family
Director: Stephen Merchant
Stars: Dwayne Johnson, Nick Frost, Lena Headey, Florence Pugh, Thomas Whilley, Tori Ellen Ross, Jack Lowden, Olivia Bernstone, Elroy Powell
Four stars
Expert advice
“Join in with a group like Cycle Safe Dubai or TrainYAS, where you’ll meet like-minded people and always have support on hand.”
Stewart Howison, co-founder of Cycle Safe Dubai and owner of Revolution Cycles
“When you sweat a lot, you lose a lot of salt and other electrolytes from your body. If your electrolytes drop enough, you will be at risk of cramping. To prevent salt deficiency, simply add an electrolyte mix to your water.”
Cornelia Gloor, head of RAK Hospital’s Rehabilitation and Physiotherapy Centre
“Don’t make the mistake of thinking you can ride as fast or as far during the summer as you do in cooler weather. The heat will make you expend more energy to maintain a speed that might normally be comfortable, so pace yourself when riding during the hotter parts of the day.”
Chandrashekar Nandi, physiotherapist at Burjeel Hospital in Dubai
WHAT IS A BLACK HOLE?
1. Black holes are objects whose gravity is so strong not even light can escape their pull
2. They can be created when massive stars collapse under their own weight
3. Large black holes can also be formed when smaller ones collide and merge
4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
more from Janine di Giovanni
UAE currency: the story behind the money in your pockets
Company Profile
Company name: NutriCal
Started: 2019
Founder: Soniya Ashar
Based: Dubai
Industry: Food Technology
Initial investment: Self-funded undisclosed amount
Future plan: Looking to raise fresh capital and expand in Saudi Arabia
Total Clients: Over 50
Libya's Gold
UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves.
The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.
Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.
A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.
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Avatar%20(2009)
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