The leader of Yemen’s Southern Transitional Council has called on the UK and international community to renew their interest in the country’s declining economic and humanitarian situation in hopes they can come together to support a peace deal.
Maj Gen Aidaroos Al Zubaidi, President of the STC, told reporters that the UK could “play a role” in a peace process that would highlight all of Yemen’s issues.
“The UK has played a role in Yemen for a long time. It’s an opportunity for the UK to bring attention back to Yemen on the international stage,” he said.
“They can help in encouraging the peace process to be comprehensive and go beyond a narrative of the conflict that has existed for a long time, which is just about the Houthis and their coup. It’s more than that.”
Gen Al Zubaidi described the dire humanitarian situation in Yemen that has been compounded by an economic crisis and the reduction of international aid due to the war in Ukraine.
“The world is not paying much attention to Yemen, and this has affected the humanitarian situation. We expect this to worsen,” he said.
The devaluation of Yemen’s currency has hit people hard and electricity shortages – with supplies limited to eight hours a day – have been acutely felt as temperatures reach 40°C.
“People are really suffering and this will have bad consequences,” he said, claiming that the government had only a short period of time to solve the problems.
He blamed the shortages on Houthi drone attacks on oil-export hub Al Dhabba port in Hadramawt in November and the reopening of the rebel-controlled Hodeidah port in February.
“It has affected the port of Aden and the other areas. The Houthis are forcing everyone to get anything just through the Hodeidah port, otherwise they won’t accept anything,” Gen Al Zubaidi said.
Ukraine once supplied Yemen with 40 per cent of its wheat, and the country has struggled to find alternative suppliers as war rages there as well.
“After the start of the war in Ukraine, the Indians helped us and covered that deficiency, but we are in a fragile situation, and anything might happen,” he said.
The general’s visit to the UK comes as experts highlighted the weakened role of the international community in Yemen.
“Yemenis see people shuttling back and forth from embassies but with no changes on the ground,” said Jamila Al Rajaa, a Yemeni diplomat, said at an event in Chatham House on Thursday. “It feels like lip service.”
Fighting ceased in Yemen after a UN-brokered truce in April last year, but this truce, which expired in October, is fragile.
“It is de facto, not official, and war might come at any time,” Gen Al Zubaidi said.
Sanaa Centre research director Yasmeen Al Eryani added: “The UN’s role is critical to ensure that the peace process is inclusive and sustainable.”
Gen Al Zubaidi said the government – of which the STC is part – has been ineffective in addressing the crises.
“The government has become inactive, disabled while the people are struggling. We feel the need for a change because this government is helpless and incapable of providing basic services,” he said.
“The partnership between the north and south is inequitable and unfair as we see it. The majority of southern governorates are liberated and should have a larger representation.”
Despite these frustrations, he told reporters the STC would continue working with the government.
“It’s about solving the problem because we don't have time, we have just months to solve these problems,” he said.
The general also voiced support for the UN-led peace process that covered questions over independence for Yemen’s south, for which he committed to holding a referendum, he said at the Chatham House event.
Saudi Arabia engaged in direct peace talks with Houthis in March, which resulted in the exchange of 900 prisoners and official Saudi delegations travelling to Sanaa.
While he described the restoring of ties between Saudi Arabia and Iran as “good for the region”, he called for greater inclusivity in the peace talks with the Houthis, which did not involve the Presidential Leadership Council or regional allies.
“The Saudis are serious [about peace.] They want to leave and close this file and focus on Vision 2030,” he said, referring to he kingdom's development and transformation agenda.
Gen Al Zubaidi said the threat of terrorism in Yemen remained significant.
“Terrorism is supported by different factions. The Houthis found a way of using these terrorist groups to destabilise liberated areas,” he said.
In spite of the progress made towards a lasting solution, from the meetings so far, Gen Al Zubaidi was sceptical of the Houthis' commitment to the peace negotiations.
“They are not serious about them,” he said. “They are just buying time to reinforce themselves.
“They live and survive on war, not peace.”
F1 drivers' standings
1. Lewis Hamilton, Mercedes 281
2. Sebastian Vettel, Ferrari 247
3. Valtteri Bottas, Mercedes 222
4. Daniel Ricciardo, Red Bull 177
5. Kimi Raikkonen, Ferrari 138
6. Max Verstappen, Red Bull 93
7. Sergio Perez, Force India 86
8. Esteban Ocon, Force India 56
More coverage from the Future Forum
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 Sky is Everywhere'
Director:Josephine Decker
Stars:Grace Kaufman, Pico Alexander, Jacques Colimon
Rating:2/5
TOUCH RULES
Touch is derived from rugby league. Teams consist of up to 14 players with a maximum of six on the field at any time.
Teams can make as many substitutions as they want during the 40 minute matches.
Similar to rugby league, the attacking team has six attempts - or touches - before possession changes over.
A touch is any contact between the player with the ball and a defender, and must be with minimum force.
After a touch the player performs a “roll-ball” - similar to the play-the-ball in league - stepping over or rolling the ball between the feet.
At the roll-ball, the defenders have to retreat a minimum of five metres.
A touchdown is scored when an attacking player places the ball on or over the score-line.
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German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
THE LIGHT
Director: Tom Tykwer
Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger
Rating: 3/5
The Lowdown
Us
Director: Jordan Peele
Starring: Lupita Nyong'o, Winston Duke, Shahadi Wright Joseqph, Evan Alex and Elisabeth Moss
Rating: 4/5
Iftar programme at the Sheikh Mohammed Centre for Cultural Understanding
Established in 1998, the Sheikh Mohammed Centre for Cultural Understanding was created with a vision to teach residents about the traditions and customs of the UAE. Its motto is ‘open doors, open minds’. All year-round, visitors can sign up for a traditional Emirati breakfast, lunch or dinner meal, as well as a range of walking tours, including ones to sites such as the Jumeirah Mosque or Al Fahidi Historical Neighbourhood.
Every year during Ramadan, an iftar programme is rolled out. This allows guests to break their fast with the centre’s presenters, visit a nearby mosque and observe their guides while they pray. These events last for about two hours and are open to the public, or can be booked for a private event.
Until the end of Ramadan, the iftar events take place from 7pm until 9pm, from Saturday to Thursday. Advanced booking is required.
For more details, email openminds@cultures.ae or visit www.cultures.ae
'Ashkal'
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TECH%20SPECS%3A%20APPLE%20WATCH%20SERIES%208
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NBA Finals so far
(Toronto lead 3-1 in best-of-seven series_
Game 1 Raptors 118 Warriors 109
Game 2 Raptors 104 Warriors 109
Game 3 Warriors 109 Raptors 123
Game 4 Warriors 92 Raptors 105
The specs
Engine: 4 liquid-cooled permanent magnet synchronous electric motors placed at each wheel
Battery: Rimac 120kWh Lithium Nickel Manganese Cobalt Oxide (LiNiMnCoO2) chemistry
Power: 1877bhp
Torque: 2300Nm
Price: Dh7,500,00
On sale: Now
The permutations for UAE going to the 2018 World Cup finals
To qualify automatically
UAE must beat Iraq.
Australia must lose in Japan and at home to Thailand, with their losing margins and the UAE's winning margin over Iraq being enough to overturn a goal difference gap of eight.
Saudi Arabia must lose to Japan, with their losing margin and the UAE's winning margin over Iraq being enough to overturn a goal difference gap of eight.
To finish third and go into a play-off with the other third-placed AFC side for a chance to reach the inter-confederation play-off match
UAE must beat Iraq.
Saudi Arabia must lose to Japan, with their losing margin and the UAE's winning margin over Iraq being enough to overturn a goal difference gap of eight.
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.