"The rumoured assassination attempt against the Iraqi premier, Nouri al Maliki, a few days ago was not only a reminder that he was engaging in a suicidal political process, but also an indication that the election, which was considered as an overture, could not alone ensure the desired stability of Iraq," observed Satea Noureddine in a comment piece for the Lebanese daily Assafir.
The alleged incident was a sign that his internal detractors rejected him as prime minister because he is a somewhat independent figure and embodies a strong Iraqi. He is also detested by neighbouring countries, which prefer to see another person leading the new government regardless of the electoral majority.
The US also shares the same attitude though it tends to rely on Mr al Maliki upon the recommendation by its military commanders in Iraq who would like to have a familiar partner in the run-up to the US troop withdrawal.
Yet the seeming support of the US is not a guarantee for Mr al Maliki to stay in power. Thus he might be associated with the occupation and become a favoured target for the national resistance. More than that, Mr al Maliki may cause the neighbouring countries to look for another man who would not provoke them.
"In this case, there is a fear that the Iraqi election would be a transient moment without a positive impact on Iraqi politics."
"A battle of wills is being waged in Lebanon over whether it should take part in the upcoming Arab summit in Libya," wrote Tariq Alhomayed in a comment article for the London-based newspaper Asharq al Awsat. "The government is torn between a keen desire not to boycott any summit and internal pressure to not participate in the backdrop of the case of the Shiite Supreme Council's founder, Imam Musa al Sadr, who went missing during an official visit to Libya in 1978."
At issue is a threatening statement by the Amal member of parliament Hani Qubaisi, who said that the Shiite political forces will take a firm position in case Lebanon goes to Tripoli. "We do not want to go back in history when the Shiite community was marginalised and denied a political role," he was quoted as saying.
He added that his group would not be part of a government that is involved with Libya in any common political action, either through the Arab summit or through any other activities.
"The intriguing question here is what is the point of such a statement by an MP close to Nabih Berry, who is involved in the establishment of a supreme authority with the aim of abolishing political sectarianism in Lebanon?"
Thus it is a puzzling attitude now to flirt with sectarian feelings to achieve Amal's goals and provoke its opponents.
As the European Union joined the international community to denounce Israel settlement policies, the club of anger widened, the UAE newspaper Al Bayan wrote in its editorial. "But the declared attitudes did not go beyond expressing distress, no more, no less. No one has yet dared to ask the Israeli prime minister, Benjamin Netanyahu, to reverse his latest decision to expand settlements." Although the expansion activities upset all, and its timing was deliberate, no one called in definite terms for the abolition of the infamous Israeli decision.
On the eve of her first visit to the region, the European Union foreign policy chief, Catherine Ashton, revealed that the EU could use its strong trade links with Israel to exert more pressure to resume peace talks. The Swedish foreign minister, for his part, expressed his country's uncertainty about Israel's commitment to the peace process. The Spanish foreign minister as well as the Quartet committee expressed similar views.
But this is not sufficient. There is rather a need for concrete action, especially by the European Union which is the major trade partner of Israel and can call on it to promptly redress the situation. This is because Israel has a record of creating problems to impede the course of talks, and this time it should be forced to annul its decision as a precondition to any eventual negotiations.
The Sudanese newspaper Al Ayam mentioned in its lead article that the number of refugees in East Africa is about 750,000, and that Sudan expects their voluntary return. Yet many of them are still hesitant, as indicated by the Kenyan press, because they do not know about the political situation, especially in southern Sudan.
Although they complained about the difficulty of life in the camps, refugees are still undecided about going back home because they are uncertain about whether Sudan is stable and safe enough. "Herein lies the responsibility of the vice president to brief them on the latest developments in the South and assure them of the stability in the southern provinces following the signing of latest peace agreement."
The Sudanese People's Liberation Movement can also play a part by touring refugee camps scattered in East Africa to convince their inhabitants to return home.
To encourage refugees to come back, there should be a comprehensive plan to integrate the returned southerners into active life by providing basic services and employment opportunities. To do so, the government needs to raise funds either through the public budget or through support of international donors.
* Digest compiled by Mostapha El Mouloud
@Email:melmouloudi@thenational.ae
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
RACE CARD
5pm: Sheikh Mansour bin Zayed Al Nahyan Racing Festival Purebred Arabian Cup Conditions (PA); Dh 200,000 (Turf) 1,600m
5.30pm: Sheikha Fatima bint Mubarak Cup Conditions (PA); Dh 200,000 (T) 1,600m
6pm: Sheikh Sultan bin Zayed Al Nahyan National Day Cup Listed (TB); Dh 380,000 (T) 1,600m
6.30pm: Sheikh Sultan bin Zayed Al Nahyan National Day Group 3 (PA); Dh 500,000 (T) 1,600m
7pm: Sheikh Sultan bin Zayed Al Nahyan National Day Jewel Crown Group 1 (PA); Dh 5,000,000 (T) 2,200m
7.30pm: Sheikh Mansour bin Zayed Al Nahyan Racing Festival Handicap (PA); Dh 150,000 (T) 1,400m
8pm: Wathba Stallions Cup Handicap (PA) Dh 100,000 (T); 1,400m
The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
Which honey takes your fancy?
Al Ghaf Honey
The Al Ghaf tree is a local desert tree which bears the harsh summers with drought and high temperatures. From the rich flowers, bees that pollinate this tree can produce delicious red colour honey in June and July each year
Sidr Honey
The Sidr tree is an evergreen tree with long and strong forked branches. The blossom from this tree is called Yabyab, which provides rich food for bees to produce honey in October and November. This honey is the most expensive, but tastiest
Samar Honey
The Samar tree trunk, leaves and blossom contains Barm which is the secret of healing. You can enjoy the best types of honey from this tree every year in May and June. It is an historical witness to the life of the Emirati nation which represents the harsh desert and mountain environments
Know your cyber adversaries
Cryptojacking: Compromises a device or network to mine cryptocurrencies without an organisation's knowledge.
Distributed denial-of-service: Floods systems, servers or networks with information, effectively blocking them.
Man-in-the-middle attack: Intercepts two-way communication to obtain information, spy on participants or alter the outcome.
Malware: Installs itself in a network when a user clicks on a compromised link or email attachment.
Phishing: Aims to secure personal information, such as passwords and credit card numbers.
Ransomware: Encrypts user data, denying access and demands a payment to decrypt it.
Spyware: Collects information without the user's knowledge, which is then passed on to bad actors.
Trojans: Create a backdoor into systems, which becomes a point of entry for an attack.
Viruses: Infect applications in a system and replicate themselves as they go, just like their biological counterparts.
Worms: Send copies of themselves to other users or contacts. They don't attack the system, but they overload it.
Zero-day exploit: Exploits a vulnerability in software before a fix is found.
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.”
Business Insights
- As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
- SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
- Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
More from Neighbourhood Watch:
ZIMBABWE V UAE, ODI SERIES
All matches at the Harare Sports Club:
1st ODI, Wednesday - Zimbabwe won by 7 wickets
2nd ODI, Friday, April 12
3rd ODI, Sunday, April 14
4th ODI, Tuesday, April 16
UAE squad: Mohammed Naveed (captain), Rohan Mustafa, Ashfaq Ahmed, Shaiman Anwar, Mohammed Usman, CP Rizwan, Chirag Suri, Mohammed Boota, Ghulam Shabber, Sultan Ahmed, Imran Haider, Amir Hayat, Zahoor Khan, Qadeer Ahmed
Formula%204%20Italian%20Championship%202023%20calendar
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Quick pearls of wisdom
Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”
Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.”