G7 leaders were set to hold emergency talks on Afghanistan on Tuesday and discuss a potential extension to the August 31 deadline for ending military operations in Kabul.
What is the August 31 deadline?
August 31 is the date by which US President Joe Biden plans to remove all American forces from Afghanistan.
Although the date was set before the fall of Kabul, Mr Biden has not changed the deadline since the Taliban captured the city.
If no extension is agreed, the 6,000 US troops who are leading evacuation efforts at Kabul airport will be removed by the end of August.
It would effectively call a halt to the wider Nato deployment. Britain and France have signalled that there is no prospect of them staying behind without the US.
“When they withdraw, that will take away the framework… and we will have to go as well,” said UK Defence Secretary Ben Wallace.
Why are there calls to extend the deadline?
Nato countries are scrambling to get their troops, civilian personnel and Afghan employees out of Kabul. But officials in Europe say they cannot get everyone out by August 31.
The rescue mission has been complicated by Taliban checkpoints in the city and the crowds that have continued to mass at the airport.
France said on Monday that it needed more time. Spain said it would not be able to rescue everyone. Germany says it wants civilian evacuations to continue once military operations end.
A further problem is that if the withdrawal was to be completed by August 31, rescue efforts would need to be scaled down before then.
“In order to be able to do that, it really needs to wind up pretty soon,” said Patricia Lewis, a security expert at the Chatham House think tank.
“That deadline – that’s the real deadline, if you like – is looming. It’s much closer than August 31 would suggest, which is only a week away.”
Why is moving the date so difficult?
First, the Taliban. The militants signalled on Monday that they will no longer tolerate the Nato presence after the agreed deadline.
Spokesman Suhail Shaheen said that any foreign presence after August 31 would be regarded as “extending the occupation” of Afghanistan.
“If the US or UK were to seek additional time to continue evacuations – the answer is no... there would be consequences,” he said.
Ms Lewis said Nato countries could be subjected to demands by the Taliban in exchange for allowing an extension.
“It’s not something that the G7 can decide. It can decide to approach the Taliban and see if they can extend it,” she said.
A second reason it is so difficult to move the date is the US. Although Mr Biden has not ruled out an extension, US officials say that their aim is to avoid one by completing the rescue effort this month.
The August 31 deadline is a long-standing commitment by Mr Biden, designed to end the US mission before the 20th anniversary of 9/11.
“Biden’s in a very difficult position politically,” said Leslie Vinjamuri, a Chatham House expert on the US.
“The calculation I imagine that he will be making is – what will the Taliban do if the US doesn’t get out on August 31? How many lives will be lost?”
Nato solidarity is at a low point after the US troop withdrawal left Europe with its hands tied and preparing for a potential refugee crisis.
Mr Wallace said Britain was holding out little hope that Mr Biden would approve an extension.
“I think it is unlikely – not only because of what the Taliban have said but also if you look at the public statements of President Biden,” he said.
“It is definitely worth us all trying, and we will. For every hour we can squash the military evacuation is an hour we can add on to help the civilian evacuation.”
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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.”
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”.
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What is safeguarding?
“Safeguarding, not just in sport, but in all walks of life, is making sure that policies are put in place that make sure your child is safe; when they attend a football club, a tennis club, that there are welfare officers at clubs who are qualified to a standard to make sure your child is safe in that environment,” Derek Bell explains.
FIXTURES
All times UAE ( 4 GMT)
Friday
Saint-Etienne v Montpellier (10.45pm)
Saturday
Monaco v Caen (7pm)
Amiens v Bordeaux (10pm)
Angers v Toulouse (10pm)
Metz v Dijon (10pm)
Nantes v Guingamp (10pm)
Rennes v Lille (10pm)
Sunday
Nice v Strasbourg (5pm)
Troyes v Lyon (7pm)
Marseille v Paris Saint-Germain (11pm)
Miss Granny
Director: Joyce Bernal
Starring: Sarah Geronimo, James Reid, Xian Lim, Nova Villa
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(Tagalog with Eng/Ar subtitles)
Q&A with Dash Berlin
Welcome back. What was it like to return to RAK and to play for fans out here again?
It’s an amazing feeling to be back in the passionate UAE again. Seeing the fans having a great time that is what it’s all about.
You're currently touring the globe as part of your Legends of the Feels Tour. How important is it to you to include the Middle East in the schedule?
The tour is doing really well and is extensive and intensive at the same time travelling all over the globe. My Middle Eastern fans are very dear to me, it’s good to be back.
You mix tracks that people know and love, but you also have a visually impressive set too (graphics etc). Is that the secret recipe to Dash Berlin's live gigs?
People enjoying the combination of the music and visuals are the key factor in the success of the Legends Of The Feel tour 2018.
Have you had some time to explore Ras al Khaimah too? If so, what have you been up to?
Coming fresh out of Las Vegas where I continue my 7th annual year DJ residency at Marquee, I decided it was a perfect moment to catch some sun rays and enjoy the warm hospitality of Bab Al Bahr.
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Seemar’s top six for the Dubai World Cup Carnival:
1. Reynaldothewizard
2. North America
3. Raven’s Corner
4. Hawkesbury
5. New Maharajah
6. Secret Ambition
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Name: Peter Dicce
Title: Assistant dean of students and director of athletics
Favourite sport: soccer
Favourite team: Bayern Munich
Favourite player: Franz Beckenbauer
Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates
HIV on the rise in the region
A 2019 United Nations special analysis on Aids reveals 37 per cent of new HIV infections in the Mena region are from people injecting drugs.
New HIV infections have also risen by 29 per cent in western Europe and Asia, and by 7 per cent in Latin America, but declined elsewhere.
Egypt has shown the highest increase in recorded cases of HIV since 2010, up by 196 per cent.
Access to HIV testing, treatment and care in the region is well below the global average.
Few statistics have been published on the number of cases in the UAE, although a UNAIDS report said 1.5 per cent of the prison population has the virus.
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
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- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates