Jordan's Foreign Minister Ayman Safadi, right, shakes hands with his Syrian counterpart Faisal Mekdad before the meeting in Amman. EPA
Jordan's Foreign Minister Ayman Safadi, right, shakes hands with his Syrian counterpart Faisal Mekdad before the meeting in Amman. EPA
Jordan's Foreign Minister Ayman Safadi, right, shakes hands with his Syrian counterpart Faisal Mekdad before the meeting in Amman. EPA
Jordan's Foreign Minister Ayman Safadi, right, shakes hands with his Syrian counterpart Faisal Mekdad before the meeting in Amman. EPA

US 'encouraged' that Arab-Syria meeting emphasised shared priorities


Ellie Sennett
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President Joe Biden's administration said it was “encouraged” after an Arab meeting in Amman to discuss normalising ties with Damascus, despite US opposition to bringing Syrian President Bashar Al Assad's regime back into the fold.

Jordan on Monday hosted Arab foreign ministers for talks “aimed at solving the Syrian crisis” in line with a 2015 UN Security Council resolution endorsing a road map for peace, and addressing the “humanitarian, political and security crisis”, a joint statement from Syria, Jordan, Egypt, Iraq and Saudi Arabia said.

A White House National Security Council representative told The National the Biden administration was “encouraged to see the joint communique mention many priorities that we and our partners share”.

“We sincerely hope that the Syrian regime will follow through on its commitments, in good faith and in accordance with international norms.”

The White House said it was particularly pleased that the communique emphasised UN Security Council Resolution 2254 of 2015, which aimed to create an internationally recognised bid for peace in Syria.

“We look forward to discussing and assessing the outcome of the meeting and will continue to make our position clear that UNSCR 2254 remains the only viable solution,” a State Department representative told The National.

The White House official added the administration was “encouraged” that the joint statement addressed the humanitarian crisis in Syria, which included an agreement on delivering humanitarian and medical aid to Syrians “in co-ordination with Damascus and the UN”.

“When it comes to any engagement with the regime, we have stressed to partners that credible steps to improve the humanitarian and security situation for Syrians should be front and centre … we were encouraged to see such steps mentioned in the joint communique issued today and sincerely hope to see their implementation,” the White House representative said.

The Biden administration has broadly maintained an anti-normalisation posture with the Assad regime, but that picture has become more complicated as normalisation efforts accelerated in the aftermath of February's earthquakes in southern Turkey and northern Syria.

The US lifted sanctions on humanitarian aid transactions to Syria, after the Assad regime had routinely blocked the UN from approving cross-border access to opposition-held north-west Syria.

The US lifted sanctions on delivering humanitarian aid to Syria in response to the earthquake in February. AP
The US lifted sanctions on delivering humanitarian aid to Syria in response to the earthquake in February. AP

As recently as last month, National Security Council spokesman John Kirby told reporters: “Nothing's changed about our desire not to see anybody normalising relations with Assad.

“We don't believe that's in anybody's interests in the region or beyond.”

But as Washington's Arab partners began engaging more with the Assad regime, senior administration official Barbara Leaf expressed a softer tone: “Our approach on that score is that make sure to get something for that engagement,” she said in late March.

Caroline Rose, director of Captagon research at the Washington-based New Lines Institute, told The National that the pace of re-engagement with the Assad regime may have “caught the United States by surprise”.

“These normalisation efforts have been not only moving so fast and happening so quickly … but also the progress and the level of co-ordination that has been struck in these discussions are much, much higher than I think anyone anticipated,” she said.

“We are starting to see, I wouldn't say a [US] green light on normalisation with the [Syrian] regime, but now it seems to be a yellow light,” she added in response to the White House expressing “encouragement”.

Mohammed Alaa Ghanem, policy chief at the Syrian American Council, told The National his organisation was “horrified by such a change in US policy”.

“This is not only severely inimical to US interests but also a clear violation of the will of the US Congress as expressed in laws such as the Caesar Act,” Mr Ghanem said.

US bill targets Syrian regime-linked Captagon drug trade — video

Among the pledges made by Damascus after Monday's talks was a commitment to curb the regional drug trade that has spread from Syria across much of the Middle East.

The Assad regime has used the illicit drug Captagon to prop itself up financially amid international sanctions. Estimates for the drug trade's worth range from $3.4 billion to as much as $30 billion.

According to the joint statement, Syria will work with Jordan and Iraq to form two joint political and security working groups to identify the sources of drug production and smuggling in Syria. The groups would search for drug lords and smugglers and take action to end smuggling operations.

“I would have assumed that the United States … would have reacted a bit more harshly to measures like that. But it seems to me that right now, at least they're curious to see where this goes,” Ms Rose said.

She added that Monday's developments show how Captagon has become an increasingly important factor in the Assad regime's normalisation efforts.

“We really are seeing the regime using and politicising and using Captagon as a pressure tactic, given that so many of these partners and these regional actors know that the regime has so much agency over the trade,” she said.

The White House official told The National that Washington takes “concerns about Captagon very seriously” and “is committed to working with international partners to confront this complex challenge”.

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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.”

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The queen bee eats only royal jelly, an extraordinary food created by worker bees so she lives much longer

The life cycle of a worker bee is from 40-60 days

A queen bee lives for 3-5 years

This allows her to lay millions of eggs and allows the continuity of the bee colony

About 20,000 honey bees and one queen populate each hive

Honey is packed with vital vitamins, minerals, enzymes, water and anti-oxidants.

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Pollen is their protein source, a super food that is nutritious, rich in amino acids

Beewax is used to construct the combs. Due to its anti-fungal, anti-bacterial elements, it is used in skin treatments

Propolis, a resin-like material produced by bees is used to make hives. It has natural antibiotic qualities so works to sterilize hive,  protects from disease, keeps their home free from germs. Also used to treat sores, infection, warts

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As long as you deal with bees gently, you will be safe, says Mohammed Al Najeh, who has worked with bees since he was a boy.

“The biggest mistake people make is they panic when they see a bee. They are small but smart creatures. If you move your hand quickly to hit the bees, this is an aggressive action and bees will defend themselves. They can sense the adrenalin in our body. But if we are calm, they are move away.”

 

 

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This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

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