A controversial Syrian peace proposal



The initiative that the head of the Syrian National Coalition, Moaz Al Khatib, proposed for a peaceful solution to the crisis in his country, and which included direct dialogue with representatives of the Assad regime, was controversial to say the least, wrote the columnist, Eyad Abu Shakra, in the pan-Arab newspaper Asharq Al Awsat.

Reactions varied between rejection and appreciation. Some saw it as an intentional test balloon, while others dismissed it as evidence of Mr Al Khatib's lack of political acumen.

The first semi-official response to the initiative was negative, but Mr Al Khatib didn't stop at that. He relinquished some of his original preconditions, such as the release of female prisoners and holding talks outside the Syrian territories, and came up with a modified, less radical proposal, "which indicates that the proposal was indeed a test balloon that wasn't necessarily devised by [Mr] Al Khatib himself" ,said the writer.

Following that, news outlets remained busy last week with reports about a plan being devised to restructure the Syrian state. President Obama's State of the Union speech then confirmed that he had no intention to offer any material support to the Syrian opposition, claiming that it would constitute a risk to Israel's security. In the meantime, reports from Washington revealed that the new US secretary of state John Kerry saw Moscow as the key to the Syrian dilemma. He is wagering on Moscow's ability to persuade the Syrian president to step down to conserve the structure of the state, or what remains thereof, along with figures of his own entourage. "This means an agreement to preserve Russia's interests in Syria while purging it of its personal and sectarian aspects," the writer added.

In parallel to the sudden US openness to a Russian role in the projected settlement, there has been an increase in reports about the essential role that jihadist groups are playing in the Syrian revolution, which provides even more justification for withholding weapons from opposition factions.

"It would be difficult to imagine a US-Russian deal on Syria that excludes Iran and Israel," said the writer. "Major powers are well aware that the issue isn't about Bashar Al Assad or his regime anymore."

In addition to that, after years of futile negotiations, it has become evident that the international community, especially the US, has no problem whatsoever with coexisting with a nuclear Iran.

"We are now going through a phase where the borders and limitations of power and authority are being agreed between Iran and Israel. Therefore, the general picture suggests that Syria, with or without Al Assad, along with Lebanon, would remain an Iranian reserve with US-Russian-Israeli blessing," the writer concluded.

Islamists labelled as revolution hijackers

Two years on, Islamists have ended up being accused of hijacking and aborting Arab revolutions, Abdul Wahhab Badrakhan wrote in the Abu Dhabi-based newspaper Al Ittihad.

Islamists have alienated people to such an extent that they are now being labelled as "enemies of the people" by many writers and social media activists. Even Morocco's Islamist prime minister, Abdelilah Benkirane, denied links with the Muslim Brotherhood, saying: "We are not part of the Muslim Brotherhood".

There is growing sentiment in Egypt and Tunisia that the revolution is over and there must be another one to topple the other face of the old regime that turned out to be worse. The old regime at least ensured some stability despite assaults on freedom, but its successors swiftly convinced people that they care neither about stability nor about freedom, he wrote.

Some might argue that Islamists were persecuted, and that criticising them at this point is hasty and unfair, because even their predecessors who made graver mistakes were not attacked so fiercely. Hence, they must be given a chance.

Yet Arab societies have changed. This is what Islamists must recognise. They are no longer willing to be treated in the same old way.

Islamists better not seek to monopolise power. Consensus and power-sharing are paramount during this transitional period.

Meetings signal some settlement is possible

Finally, a settlement has kicked off between the Muslim Brotherhood and Egypt's main opposition bloc, the National Salvation Front, wrote Emad Eddine Hussein in an article in the Cairo-based Al Shorouk newspaper.

"We hope this is a prelude to a real settlement, and not just an attempt to buy time," the writer noted.

The Freedom and Justice Party chairman, Saad El Katatni, met opposition leaders Mohamed El Baradei and El Sayed El Badawi on Saturday to start negotiations to ease tensions.

This was not the first such meeting between the Brotherhood and the opposition. Some secret meetings were held before. The last one took place last week, as Amr Moussa revealed. But all those attempts failed due to mistrust and failure of both parties to make concessions, the writer said.

The meeting that was held at Dr El Baradei's home does not indicate that the problem is solved. But chances are greater this time around that there will be a partial settlement between the Brotherhood and some segments of the National Salvation Front.

The Brotherhood will use a carrot or stick approach with the opposition, but many among the opposition will seek nothing less than a democratic Egypt.

* Digest compiled by the Translation Desk

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Film: In Syria
Dir: Philippe Van Leeuw
Starring: Hiam Abbass, Diamand Bo Abboud, Mohsen Abbas and Juliette Navis
Verdict: Four stars

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Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.

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Analysis

Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more

WHAT IS GRAPHENE?

It was discovered in 2004, when Russian-born Manchester scientists Andrei Geim and Kostya Novoselov were experimenting with sticky tape and graphite, the material used as lead in pencils.

Placing the tape on the graphite and peeling it, they managed to rip off thin flakes of carbon. In the beginning they got flakes consisting of many layers of graphene. But when they repeated the process many times, the flakes got thinner.

By separating the graphite fragments repeatedly, they managed to create flakes that were just one atom thick. Their experiment led to graphene being isolated for the very first time.

In 2010, Geim and Novoselov were awarded the Nobel Prize for Physics. 

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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.”