The global financial crisis taught the world how profoundly interdependent our economies have become. In today’s crisis of extremism, we must recognise that we are just as interdependent for our security, as is clear in the current struggle to defeat ISIL.
If we are to prevent ISIL from teaching us this lesson the hard way, we must acknowledge that we cannot extinguish the fires of fanaticism by force alone. The world must unite behind a holistic drive to discredit the ideology that gives the extremists their power, and to restore hope and dignity to those whom they would recruit.
ISIL certainly can – and will – be defeated militarily by the international coalition that is now assembling and which the UAE is actively supporting. But military containment is only a partial solution. Lasting peace requires three bigger ingredients: winning the intellectual battle, upgrading weak governance and grassroots human development.
Such a solution must begin with concerted international political will. Not a single politician in North America, Europe, Africa, or Asia can afford to ignore events in the Middle East. A globalised threat requires a globalised response. Everyone will feel the heat, because such flames know no borders. Indeed, ISIL has recruited members of at least 80 nationalities.
ISIL is a barbaric and brutal organisation. It represents neither Islam nor humanity’s most basic values. Nonetheless, it has emerged, spread and resisted those who oppose it. What we are fighting is not just a terrorist organisation, but the embodiment of a malicious ideology that must be defeated intellectually.
I consider this ideology to be the greatest danger that the world will face in the next decade. Its seeds are growing in Europe, the United States, Asia and elsewhere. With its twisted religious overtones, this prepackaged franchise of hate is available for any terrorist group to adopt. It carries the power to mobilise thousands of desperate, vindictive, or angry young people and use them to strike at the foundations of civilisation.
The ideology fuelling ISIL has much in common with that of Al Qaeda and its affiliates in Nigeria, Pakistan, Afghanistan, Somalia, Yemen, North Africa and the Arabian Peninsula. What most worries me is that a decade ago, such an ideology was all that Al Qaeda needed to destabilise the world, even from a primitive base in the caves of Afghanistan. Today, under ISIL, adherents have access to technology, finance, a huge land base and an international jihadist network. Far from being defeated, their ideology of rage and hate has become stricter, more pernicious and more widespread.
The destruction of terrorist groups is not enough to bring lasting peace. We must also strike at the root to deprive their dangerous ideology of the power to rise again among people left vulnerable by an environment of hopelessness and desperation. And, on this note, let us be positive.
The solution has three components. The first is to counter malignant ideas with enlightened thinking, open minds and an attitude of tolerance and acceptance. This approach arises from our Islamic religion, which calls for peace, honours life, values dignity, promotes human development and directs us to do good to others.
Only one thing can stop a suicidal youth who is ready to die for ISIL: a stronger ideology that guides him onto the right path and convinces him that God created us to improve our world, not to destroy it. Credit is due to our neighbours in Saudi Arabia in this field for their successes in de-radicalising many young people through counselling centres and programmes. In this battle of minds, it is thinkers and scientists of spiritual and intellectual stature among Muslims who are best placed to lead the charge.
The second component is support for governments’ efforts to create stable institutions that can deliver real services to their people. It should be clear to everyone that the rapid growth of ISIL was fuelled by two governments’ failings: the first one made war on its own people, and the second one promoted sectarian division. When governments fail to address instability, legitimate grievances and persistent serious challenges, they create an ideal environment for hateful ideologies to incubate – and for terrorist organisations to fill the vacuum of legitimacy.
The final component is to address urgently the black holes in human development that afflict many areas of the Middle East. This is not only an Arab responsibility, but also an international responsibility, because providing grassroots opportunity and a better quality of life for the people of this region is guaranteed to ameliorate our shared problems of instability and conflict. We have a critical need for long-term projects and initiatives to eliminate poverty, improve education and health, build infrastructure, and create economic opportunities. Sustainable development is the most sustainable answer to terrorism.
Our region is home to more than 200 million young people. We have the opportunity to inspire them with hope and to direct their energies toward improving their lives and the lives of those around them. If we fail, we will abandon them to emptiness, unemployment and the malicious ideologies of terrorism.
Every day that we take a step towards delivering economic development, creating jobs, and raising standards of living, we undermine the ideologies of fear and hate that feed on hopelessness. We starve terrorist organisations of their reason to exist.
I am optimistic, because I know that the people of the Middle East possess a power of hope and a desire for stability and prosperity that are stronger and more enduring than opportunistic and destructive ideas. There is no power stronger than that of hope for a better life.
Sheikh Mohammed bin Rashid Al Maktoum is Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai
Company%20Profile
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The specs: 2019 GMC Yukon Denali
Price, base: Dh306,500
Engine: 6.2-litre V8
Transmission: 10-speed automatic
Power: 420hp @ 5,600rpm
Torque: 621Nm @ 4,100rpm
Fuel economy, combined: 12.9L / 100km
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Biog
Age: 50
Known as the UAE’s strongest man
Favourite dish: “Everything and sea food”
Hobbies: Drawing, basketball and poetry
Favourite car: Any classic car
Favourite superhero: The Hulk original
Abu Dhabi World Pro 2019 remaining schedule:
Wednesday April 24: Abu Dhabi World Professional Jiu-Jitsu Championship, 11am-6pm
Thursday April 25: Abu Dhabi World Professional Jiu-Jitsu Championship, 11am-5pm
Friday April 26: Finals, 3-6pm
Saturday April 27: Awards ceremony, 4pm and 8pm
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
Singham Again
Director: Rohit Shetty
Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone
Rating: 3/5
Related
Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
How to help
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
Tips to keep your car cool
- Place a sun reflector in your windshield when not driving
- Park in shaded or covered areas
- Add tint to windows
- Wrap your car to change the exterior colour
- Pick light interiors - choose colours such as beige and cream for seats and dashboard furniture
- Avoid leather interiors as these absorb more heat
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Cricket World Cup League 2
UAE squad
Rahul Chopra (captain), Aayan Afzal Khan, Ali Naseer, Aryansh Sharma, Basil Hameed, Dhruv Parashar, Junaid Siddique, Muhammad Farooq, Muhammad Jawadullah, Muhammad Waseem, Omid Rahman, Rahul Bhatia, Tanish Suri, Vishnu Sukumaran, Vriitya Aravind
Fixtures
Friday, November 1 – Oman v UAE
Sunday, November 3 – UAE v Netherlands
Thursday, November 7 – UAE v Oman
Saturday, November 9 – Netherlands v UAE
From Zero
Artist: Linkin Park
Label: Warner Records
Number of tracks: 11
Rating: 4/5
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
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.”
COMPANY%20PROFILE
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COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
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COMPANY%20PROFILE
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COMPANY%20PROFILE
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LA LIGA FIXTURES
Thursday (All UAE kick-off times)
Sevilla v Real Betis (midnight)
Friday
Granada v Real Betis (9.30pm)
Valencia v Levante (midnight)
Saturday
Espanyol v Alaves (4pm)
Celta Vigo v Villarreal (7pm)
Leganes v Real Valladolid (9.30pm)
Mallorca v Barcelona (midnight)
Sunday
Atletic Bilbao v Atletico Madrid (4pm)
Real Madrid v Eibar (9.30pm)
Real Sociedad v Osasuna (midnight)