Hours after President Donald Trump suggested he was a “lovely man”, Hassan Rouhani warned the UN on Tuesday that the US administration was out to over throw his government.
"It is ironic that the US government does not even conceal its plan for overthrowing the same government it invites to talks," Mr Rouhani said in a speech at the United Nations General Assembly. "For dialogue to take place, there is no need for a photo opportunity. The two sides can listen to each other right here in this Assembly.
"I am starting the dialogue right here, and state, in unequivocal terms, that the question of international security is not a toy in American domestic politics.”
President Trump had defended his decision to bail from the 2015 nuclear accord with Iran by calling for the country’s isolation, accusing its leaders of sowing "chaos, death and destruction”.
The duelling speeches to the UN General Assembly in New York set the stage for an intense battle over Iran's regional role, nuclear ambitions and ultimately its relationship with the country the regime vilifies as the Great Satan.
Mr Rouhani said that Iran was the victim of the US re-imposition of sanctions which has sliced the country’s oil exports by more than one million barrels per day and prompted dozens of international businesses to cut trade and investment. “Unlawful unilateral sanctions in themselves constitute a form of economic terrorism,” he said.
The Iranian leader said it was an illusion that peace and security could be obtained by punishing others. He claimed to see “a Nazi disposition” in the policies of attack.
“Confronting multilateralism is not a sign of strength, rather it is a symptom of a weakness of intellect,” he added.
As his own signature achievement after taking power in 2013, Mr Rouhani has pledged to stay in the accord should other partners, particularly Europe, finds a means to withstand the US sanctions pressure.
“We are pleased that the international community did not acquiesce to the US’s illegal and unilateral withdrawal from that agreement,” he said, adding a warning that America would pay a future price for its role. No state and nation can be brought to the negotiation table by force and if so what follows is the accumulation of the grapes of wrath to be reaped later by the oppressors.”
There was a war of words between the two men over President Trump’s claim that Iran had requested a meeting with him. Mr Rouhani denied that and said the US had requested a head-to-head eight times at the 2017 meeting. "Not this year, nor last year," Mr Rouhani said in a CNN interview. "We have never made such a request for a meeting with the President of the United States.”
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Fedrica Mogherini, the EU foreign affairs spokeswoman, had better news for Iran, after a late night meeting involving Britain France, Germany, Russia and China agreed to set up a special purpose mechanism to sustain trade with Iran in way that would ring-fence US sanctions. “In practical terms this will mean that EU member states will set up a legal entity to facilitate legitimate financial transactions with Iran, and this will allow European companies to continue trade with Iran,” she said.
Ms Mogherini also claimed that engagement with Iran allowed it to deal with concerns about the country’s repression and regional aggression. However experts see Iran’s failure to improve its own record as a handicap for Mr Rouhani’s charm offensive.
Iran could also end its involvement some of the regional conflicts that it is involved in, such as Yemen and Syrian,” said Barbara Slavin, head of the Future of Iran initiative at the Atlantic Council. “It could also improve its human rights record.”
Theresa May, the British prime minister, has promised to raise with Mr Rouhani the fate of dual nationals, including the consultant Nazanin Zardari-Ratcliffe, that have been imprisoned by the Iranian regime.
Dhadak 2
Director: Shazia Iqbal
Starring: Siddhant Chaturvedi, Triptii Dimri
Rating: 1/5
UAE jiu-jitsu squad
Men: Hamad Nawad and Khalid Al Balushi (56kg), Omar Al Fadhli and Saeed Al Mazroui (62kg), Taleb Al Kirbi and Humaid Al Kaabi (69kg), Mohammed Al Qubaisi and Saud Al Hammadi (70kg), Khalfan Belhol and Mohammad Haitham Radhi (85kg), Faisal Al Ketbi and Zayed Al Kaabi (94kg)
Women: Wadima Al Yafei and Mahra Al Hanaei (49kg), Bashayer Al Matrooshi and Hessa Al Shamsi (62kg)
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.”
Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
The specs: Rolls-Royce Cullinan
Price, base: Dh1 million (estimate)
Engine: 6.75-litre twin-turbo V12
Transmission: Eight-speed automatic
Power: 563hp @ 5,000rpm
Torque: 850Nm @ 1,600rpm
Fuel economy, combined: 15L / 100km
All you need to know about Formula E in Saudi Arabia
What The Saudia Ad Diriyah E-Prix
When Saturday
Where Diriyah in Saudi Arabia
What time Qualifying takes place from 11.50am UAE time through until the Super Pole session, which is due to end at 12.55pm. The race, which will last for 45 minutes, starts at 4.05pm.
Who is competing There are 22 drivers, from 11 teams, on the grid, with each vehicle run solely on electronic power.
Brief scores:
Manchester United 4
Young 13', Mata 28', Lukaku 42', Rashford 82'
Fulham 1
Kamara 67' (pen),
Red card: Anguissa (68')
Man of the match: Juan Mata (Man Utd)
Nancy 9 (Hassa Beek)
Nancy Ajram
(In2Musica)
Mica
Director: Ismael Ferroukhi
Stars: Zakaria Inan, Sabrina Ouazani
3 stars
