US Special Envoy for Yemen Tim Lenderking, pictured in April. Reuters
US Special Envoy for Yemen Tim Lenderking, pictured in April. Reuters
US Special Envoy for Yemen Tim Lenderking, pictured in April. Reuters
US Special Envoy for Yemen Tim Lenderking, pictured in April. Reuters

US envoy calls on Yemen’s Houthis to show more flexibility in truce extension


Adla Massoud
  • English
  • Arabic

US Special Envoy for Yemen Tim Lenderking on Wednesday called on the Iran-backed Houthi rebels to show more flexibility in the “maximalist and impossible” demands they have made in a UN-proposed expanded truce deal.

An initial ceasefire first agreed to in April had brought the longest stretch of relative calm in the seven-year conflict between the Houthis and the Yemeni government, which is backed by a Saudi-led military coalition.

Mr Lenderking said the Houthis had made “maximalist and impossible” demands over a proposed mechanism to pay public sector wages, but that he was confident an agreement could be reached if the group showed flexibility.

A member of the Houthi negotiating committee had, in a Twitter post, criticised the proposed payment scheme for not including members of the police as well as security and military forces.

The demands created a “threshold that was simply too hard for the other side to contemplate and was entirely unreasonable”, Mr Lenderking told reporters.

UN envoy Hans Grundberg earlier told Reuters the two sides had failed to renew the truce because they were still arguing over proposals to pay civil service wages, increase fuel shipments, add flights and open roads.

Still, Mr Lenderking said an agreement could come if the Houthis were to pull away from these “very high demands” and return to the truce process and the UN proposal on the table.

“We encourage them very eagerly to do so,” Mr Lenderking said.

He added it appeared that the regime in Iran, under pressure from street protests over the killing of a young woman in police custody, is not backing a political solution to the conflict.

“We need to see Iranian action borne out on the ground that supports this kind of more positive approach. And frankly, we haven’t seen that,” he said.

“We must view Iran's involvement based on what we've seen so far, which has been over the course of the conflict quite negative.”

In a statement seen by The National, members of the UN Security Council, expressing their “deep disappointment” at the passing of the October 2 deadline, called on the Yemeni parties, in particular the Houthis, to “refrain from provocation, prioritise the Yemeni people and return to engaging constructively in negotiations”.

They reiterated the need to avoid the resumption of hostilities inside Yemen as well as attacks within the region and in the Red Sea.

Aid groups push to feed Yemen's hungry — in pictures

  • The father of malnourished boy Jiad Muhammad Jalal, 1, holds him at a camp for internally displaced people in Hajjah, Yemen. All photos: Reuters
    The father of malnourished boy Jiad Muhammad Jalal, 1, holds him at a camp for internally displaced people in Hajjah, Yemen. All photos: Reuters
  • A volunteer gives a meal to a woman at a charity kitchen in Sanaa.
    A volunteer gives a meal to a woman at a charity kitchen in Sanaa.
  • About 17.4 million people need food aid as funding dries up, the UN has said.
    About 17.4 million people need food aid as funding dries up, the UN has said.
  • Boys stand in line as they wait to receive meals from a charity kitchen in Sanaa.
    Boys stand in line as they wait to receive meals from a charity kitchen in Sanaa.
  • Children have been particularly affected by the conflict in Yemen, UN figures show, with 2.2 million youngsters acutely malnourished.
    Children have been particularly affected by the conflict in Yemen, UN figures show, with 2.2 million youngsters acutely malnourished.
  • Boys leave after receiving meals from a charity kitchen in Sanaa.
    Boys leave after receiving meals from a charity kitchen in Sanaa.
  • A woman cooks a meal at a camp for displaced people in Al Ghaidha.
    A woman cooks a meal at a camp for displaced people in Al Ghaidha.
  • A girl picks food prepared by her mother at a camp for displaced people in Al Ghaidha.
    A girl picks food prepared by her mother at a camp for displaced people in Al Ghaidha.
  • UN Secretary General Antonio Guterres has said Yemen and other vulnerable nations are being hit hard by the economic fallout from Russia’s invasion of Ukraine.
    UN Secretary General Antonio Guterres has said Yemen and other vulnerable nations are being hit hard by the economic fallout from Russia’s invasion of Ukraine.
  • Internally displaced people collect food aid distributed by a charity in Taez.
    Internally displaced people collect food aid distributed by a charity in Taez.

Reuters contributed to this report

Super%20Mario%20Bros%20Wonder
%3Cp%3E%3Cstrong%3EDeveloper%3A%20%3C%2Fstrong%3ENintendo%20EPD%3Cbr%3E%3Cstrong%3EPublisher%3A%20%3C%2Fstrong%3ENintendo%3Cbr%3E%3Cstrong%3EConsole%3A%20%3C%2Fstrong%3ENintendo%20Switch%3Cbr%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E4%2F5%3C%2Fp%3E%0A

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.”

Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

The specs: 2018 Opel Mokka X

Price, as tested: Dh84,000

Engine: 1.4L, four-cylinder turbo

Transmission: Six-speed auto

Power: 142hp at 4,900rpm

Torque: 200Nm at 1,850rpm

Fuel economy, combined: 6.5L / 100km

Sri Lanka v England

First Test, at Galle
England won by 211

Second Test, at Kandy
England won by 57 runs

Third Test, at Colombo
From Nov 23-27

Day 3, Dubai Test: At a glance

Moment of the day Lahiru Gamage, the Sri Lanka pace bowler, has had to play a lot of cricket to earn a shot at the top level. The 29-year-old debutant first played a first-class game 11 years ago. His first Test wicket was one to savour, bowling Pakistan opener Shan Masood through the gate. It set the rot in motion for Pakistan’s batting.

Stat of the day – 73 Haris Sohail took 73 balls to hit a boundary. Which is a peculiar quirk, given the aggressive intent he showed from the off. Pakistan’s batsmen were implored to attack Rangana Herath after their implosion against his left-arm spin in Abu Dhabi. Haris did his best to oblige, smacking the second ball he faced for a huge straight six.

The verdict One year ago, when Pakistan played their first day-night Test at this ground, they held a 222-run lead over West Indies on first innings. The away side still pushed their hosts relatively close on the final night. With the opposite almost exactly the case this time around, Pakistan still have to hope they can salvage a win from somewhere.

Stree

Producer: Maddock Films, Jio Movies
Director: Amar Kaushik
Cast: Rajkummar Rao, Shraddha Kapoor, Pankaj Tripathi, Aparshakti Khurana, Abhishek Banerjee
Rating: 3.5

Desert Warrior

Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

COMPANY PROFILE
Company name: BorrowMe (BorrowMe.com)

Date started: August 2021

Founder: Nour Sabri

Based: Dubai, UAE

Sector: E-commerce / Marketplace

Size: Two employees

Funding stage: Seed investment

Initial investment: $200,000

Investors: Amr Manaa (director, PwC Middle East) 

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

MATCH INFO

BRIGHTON 0

MANCHESTER UNITED 3

McTominay 44'

Mata 73'

Pogba 80'

Updated: October 05, 2022, 7:46 PM