Hello from The National and welcome to the View from London – your weekly guide to the big stories from our London bureau
Ceasefire at a crossroads
Foreign Office minister Hamish Falconer has told The National that Israel is in breach of the ceasefire plan promoted by US President Donald Trump. The failure to open crossings, including those from Jordan into the West Bank, means the 20-point plan cannot move on from phase one, he said.
"We're clear that crossings, which were clearly envisaged to be opened under the 20-point plan, remain unopened," he told our correspondent Thomas Harding last night. "That is a vital part of phase one, and we need to see progress on that immediately.”
He was speaking to us a day after he met UAE Minister of State Lana Nusseibeh, with whom he said he had discussed these issues "intensively".
From the London vantage point, he added: “We can't see an overly restrictive approach to aid because that will prevent the necessary materials getting in at the speed required.”
UK Minister for the Middle East Hamish Falconer meets with Minister of State Lana Nusseibeh. Photo: Hamish Falconer / X
Asked about links between the Houthis in Yemen and the Sudanese Armed Forces, he told us of the importance of support for Yemen's Coastguard. Its recent interception of dual-use items is vital at this time.
"Now, I can't tell you where that high-tech equipment that could be used very much for military purposes, to whom it was intended to be delivered, but there clearly is a very significant problem in the area of advanced weaponry travelling across the Red Sea,” he said.
In her short time as Foreign Secretary, Yvette Cooper has made it clear she is “deeply worried” about atrocities in Sudan. She has now been presented with another factor in the conflict, with Iran and the Muslim Brotherhood influencing the refusal of the Sudanese Armed Forces chief to entertain a ceasefire offer.
Ms Cooper is in continual contact with the US, UAE, Egypt and Saudi Arabia to encourage those ceasefire efforts.
Yesterday she spoke with US envoy Massad Boulos about how to bring about "a humanitarian truce to protect civilians and get aid in".
"Sudan needs a global push for peace," she said, before heading to Brussels where she will today attend a meeting of Nato foreign ministers.
She last night launched a global action coalition, warning of an “epidemic of violence” against women in wars, not least in the Sudan conflict.
Yvette Cooper attends meeting of Nato foreign ministers in Brussels. EPA
Efforts to forge a GCC-UK trade deal were in the spotlight at an event to mark the UAE's Eid Al Etihad, formerly known as National Day, in London this week.
Minister of Trade Chris Bryant followed up his recent trip to Dubai with a plea to the UAE to help overcome residual resistance in the talks.
"I'm not going to name the other countries, I'm not going to name individuals that you need to speak to," he said. "But honestly, this has been taking us far too long. I really want us to get this trade deal done, because I think it's in our geostrategic interest.
"It's in our personal interests. It's in the interest of trade. It's in the interest of supporting the rules-based order around the world, which has enabled all of us to prosper."
Mr Bryant said the UAE was the UK's largest regional trading partner, with £25 billion ($33 billion) of bilateral trade in the year ending in June. He also said there were 5,000 British businesses operating in Dubai. He said he had argued for the UAE's accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership at a recent summit of the current members.
Among the British politicians at the 54th Eid Al Etihad commemorations was former deputy prime minister Oliver Dowden, former chancellor of the exchequer Philip Hammond, and former foreign secretary and home secretary James Cleverly, as well as serving parliamentarians.
In Parliament on Wednesday, Mr Dowden asked Mr Falconer, the Middle East minister, to mark Eid Al Etihad by reaffirming the strategic relationship between the two countries.
"They are a key partner," Mr Falconer said of the UAE. "I welcome their investments all over the country and we will take the relationship from strength to strength."
Extreme blockades
I thought I'd relay some stark talk at Oxford Analytica Prospects 2026: Crises, Conflicts and Aftermaths about the resurgence of Islamist extremist groups in Africa.
The capitals of Somalia and Mali are being choked by insurgent groups.
"In Somalia, Al Shabab has been on the rise again, launching attacks in very close proximity to Mogadishu, having prosecuted very successful attacks and putting the army on the back foot," Oxford Analytica's analysts said. "Part of the reason for this being that the government right now is focused on its own internal problems."
Al Qaeda-linked Jamaat Nusrat Al Islam wal Muslim (JNIM) has meanwhile moved to choke off trade into Bamako and to put pressure on the military junta there to erode its political popularity.
"JNIM is definitely going from strength to strength militarily," the panel heard. "Neither of these groups have any intention of trying to seize power in these countries."
The more likely outcome predicted by the experts is a coup, rather than a takeover.
A Syrian-British business delegation made its first trip to Damascus last week, hoping to drum up investment from UK companies in Syria’s devastated economy.
Syria offers a “potentially high-return market”, despite a “challenging and high-risk context”, the new guidelines from the Foreign, Commonwealth and Development Office said.
The lifting of UK sanctions in March was intended to allow for “essential investment” in the country to support Syrians in rebuilding their devastated lives. This included reversing punitive measures on the Central Bank of Syria, the Ministry of Defence in Damascus and other key institutions.
Yet sanctions are still imposed on the export and import of luxury goods, diamonds and gold, although the Foreign Office has advised that individual traders could be eligible for an exemption on these.
What a pity there is no UK embassy there to get into the nitty-gritty of all this. London is unable to give a firm date for the reopening of its embassy in Damascus despite wanting to "normalise" its presence, a minister revealed last night.
Development Minister Jenny Chapman told the House of Lords that the need to ensure the embassy would be “successful and sustainable” was hanging over the process. It was a cautionary tale about severing diplomatic relations with other countries in future.
“The reason we’re so reluctant to withdraw from a country or city is because once you've withdrawn and once you no longer have that embassy, it's very difficult and always takes time to establish that presence,” Ms Chapman said.
Meanwhile, the UK government is relying on aid organisations and the UN to address humanitarian issues in Syria, such as displacement from the civil war and poverty from economic collapse.
“We do work through NGOs and the United Nations, and at the moment that's the right approach to take. We do look forward to a time when we can have a more normalised presence."
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What vitamins do we know are beneficial for living in the UAE
Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood. Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues. Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity. Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.
Barings Bank
Barings, one of Britain’s oldest investment banks, was founded in 1762 and operated for 233 years before it went bust after a trading scandal.
Barings Bank collapsed in February 1995 following colossal losses caused by rogue trader Nick Lesson.
Leeson gambled more than $1 billion in speculative trades, wiping out the venerable merchant bank’s cash reserves.
On Instagram: @WithHopeUAE
Although social media can be harmful to our mental health, paradoxically, one of the antidotes comes with the many social-media accounts devoted to normalising mental-health struggles. With Hope UAE is one of them.
The group, which has about 3,600 followers, was started three years ago by five Emirati women to address the stigma surrounding the subject. Via Instagram, the group recently began featuring personal accounts by Emiratis. The posts are written under the hashtag #mymindmatters, along with a black-and-white photo of the subject holding the group’s signature red balloon.
“Depression is ugly,” says one of the users, Amani. “It paints everything around me and everything in me.”
Saaed, meanwhile, faces the daunting task of caring for four family members with psychological disorders. “I’ve had no support and no resources here to help me,” he says. “It has been, and still is, a one-man battle against the demons of fractured minds.”
In addition to With Hope UAE’s frank social-media presence, the group holds talks and workshops in Dubai. “Change takes time,” Reem Al Ali, vice chairman and a founding member of With Hope UAE, told The National earlier this year. “It won’t happen overnight, and it will take persistent and passionate people to bring about this change.”
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.”
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
BUNDESLIGA FIXTURES
(All games 4-3pm kick UAE time) Bayern Munich v Augsburg, Borussia Dortmund v Bayer Leverkusen, Hoffenheim v Hertha Berlin, Wolfsburg v Mainz , Eintracht Frankfurt v Freiburg, Union Berlin v RB Leipzig, Cologne v Schalke , Werder Bremen v Borussia Monchengladbach, Stuttgart v Arminia Bielefeld
Bookshops: A Reader's History by Jorge Carrión (translated from the Spanish by Peter Bush),
Biblioasis
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
8.15pm: Dubawi Stakes Group 3 (D) | $200,000 | 1,200m
8.50pm: Singspiel Stakes Group 3 (T) | $200,000 | 1,800m
9.25pm: Handicap (T) | $175,000 | 1,400m
Tips for job-seekers
Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.
David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East
Indoor cricket in a nutshell
Indoor Cricket World Cup - Sept 16-20, Insportz, Dubai
16 Indoor cricket matches are 16 overs per side 8 There are eight players per team 9 There have been nine Indoor Cricket World Cups for men. Australia have won every one. 5 Five runs are deducted from the score when a wickets falls 4 Batsmen bat in pairs, facing four overs per partnership
Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.
Zones
A Front net, behind the striker and wicketkeeper: 0 runs B Side nets, between the striker and halfway down the pitch: 1 run C Side nets between halfway and the bowlers end: 2 runs D Back net: 4 runs on the bounce, 6 runs on the full
How to apply for a drone permit
Individuals must register on UAE Drone app or website using their UAE Pass
Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
Upload the training certificate from a centre accredited by the GCAA
Submit their request
What are the regulations?
Fly it within visual line of sight
Never over populated areas
Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
Users must avoid flying over restricted areas listed on the UAE Drone app
Only fly the drone during the day, and never at night
Should have a live feed of the drone flight
Drones must weigh 5 kg or less
How to donate
Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
2252 – Dh 50
6025 – Dh20
6027 – Dh 100
6026 – Dh 200
What is a robo-adviser?
Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.
These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.
Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.
Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.
MATCH INFO
Asian Champions League, last 16, first leg:
Al Ain 2 Al Duhail 4
Second leg:
Tuesday, Abdullah bin Khalifa Stadium, Doha. Kick off 7.30pm
Family: Wife, Pom; and daughters Kate, 18, and Ciara, 13, who attend Jumeirah English Speaking School (JESS)
Favourite book or author: “That’s a really difficult question. I’m a big fan of Donna Tartt, The Secret History. I’d recommend that, go and have a read of that.”
Dream: “It would be to continue to have fun and to work with really interesting people, which I have been very fortunate to do for a lot of my life. I just enjoy working with very smart, fun people.”
Key changes
Commission caps
For life insurance products with a savings component, Peter Hodgins of Clyde & Co said different caps apply to the saving and protection elements:
• For the saving component, a cap of 4.5 per cent of the annualised premium per year (which may not exceed 90 per cent of the annualised premium over the policy term).
• On the protection component, there is a cap of 10 per cent of the annualised premium per year (which may not exceed 160 per cent of the annualised premium over the policy term).
• Indemnity commission, the amount of commission that can be advanced to a product salesperson, can be 50 per cent of the annualised premium for the first year or 50 per cent of the total commissions on the policy calculated.
• The remaining commission after deduction of the indemnity commission is paid equally over the premium payment term.
• For pure protection products, which only offer a life insurance component, the maximum commission will be 10 per cent of the annualised premium multiplied by the length of the policy in years.
Disclosure
Customers must now be provided with a full illustration of the product they are buying to ensure they understand the potential returns on savings products as well as the effects of any charges. There is also a “free-look” period of 30 days, where insurers must provide a full refund if the buyer wishes to cancel the policy.
“The illustration should provide for at least two scenarios to illustrate the performance of the product,” said Mr Hodgins. “All illustrations are required to be signed by the customer.”
Another illustration must outline surrender charges to ensure they understand the costs of exiting a fixed-term product early.
Illustrations must also be kept updatedand insurers must provide information on the top five investment funds available annually, including at least five years' performance data.
“This may be segregated based on the risk appetite of the customer (in which case, the top five funds for each segment must be provided),” said Mr Hodgins.
Product providers must also disclose the ratio of protection benefit to savings benefits. If a protection benefit ratio is less than 10 per cent "the product must carry a warning stating that it has limited or no protection benefit" Mr Hodgins added.
TWISTERS
Director: Lee Isaac Chung
Starring: Glen Powell, Daisy Edgar-Jones, Anthony Ramos
A UK report on youth social media habits commissioned by advocacy group Volteface found a quarter of young people were exposed to illegal drug dealers on social media.
The poll of 2,006 people aged 16-24 assessed their exposure to drug dealers online in a nationally representative survey.
Of those admitting to seeing drugs for sale online, 56 per cent saw them advertised on Snapchat, 55 per cent on Instagram and 47 per cent on Facebook.
Cannabis was the drug most pushed by online dealers, with 63 per cent of survey respondents claiming to have seen adverts on social media for the drug, followed by cocaine (26 per cent) and MDMA/ecstasy, with 24 per cent of people.
The flights Emirates, Etihad and Malaysia Airlines all fly direct from the UAE to Kuala Lumpur and on to Penang from about Dh2,300 return, including taxes.
Where to stay
In Kuala Lumpur,Element is a recently opened, futuristic hotel high up in a Norman Foster-designed skyscraper. Rooms cost from Dh400 per night, including taxes. Hotel Stripes, also in KL, is a great value design hotel, with an infinity rooftop pool. Rooms cost from Dh310, including taxes.
In Penang,Ren i Tang is a boutique b&b in what was once an ancient Chinese Medicine Hall in the centre of Little India. Rooms cost from Dh220, including taxes. 23 Love Lane in Penang is a luxury boutique heritage hotel in a converted mansion, with private tropical gardens. Rooms cost from Dh400, including taxes.
In Langkawi,Temple Tree is a unique architectural villa hotel consisting of antique houses from all across Malaysia. Rooms cost from Dh350, including taxes.
