CAIRO and DAMASCUS // The Arab League has agreed to extend its observer mission in Syria by a month, despite persistent criticisms it had failed to end the killing of anti-regime protesters, according to unidentified officials quoted by the Associated Press.
But in a blow to the troubled mission's credibility the Saudi Arabian foreign minister, Prince Saud Al Faisal, told his Arab colleagues in Cairo his country was withdrawing from the mission.
"My country will withdraw its monitors because the Syrian government did not execute any of the elements of the Arab resolution plan," he said, according to a statement obtained by Reuters.
About 5,400 people have died in the 10-month uprising, including more than 450 since monitors arrived in Syria a month ago to watch over the implementation of a League-brokered peace deal, the UN and human rights groups say.
The decision to grant the observers more time and raise their numbers by about 300 came after Arab foreign ministers met to hear a progress report from the head of the mission, Gen Mohammed Al Dabi, who also spoke on cooperation from the Syrian government.
The Syrian National Council (SNC), the main opposition group to the regime of Bashar Al Assad, has criticised the mission for its inability to accurately assess the situation or Mr Al Assad's willingness to meet the conditions of the Arab peace plan he agreed to in November.
The SNC has instead called on the Arab League to bring the issue before the UN Security Council and said it would send its own delegates to the UN to push for an intervention by the council.
But even the Security Council is divided over what to do. Western powers are pushing for more sanctions, while Russia prefers to have the Arab League continue to negotiate with the Assad regime.
The decision appeared to be partly the result of unease within the Arab League about foreign military intervention.
Qatar and Saudi Arabia have pushed for sending troops into the country, but other members such as Egypt, Algeria and Tunisia preferred to give the mission more time.
Syrian authorities have been keen to show they are cooperating with the monitors. Sana, the official news agency, yesterday said 5,255 detainees had been freed under a amnesty issued by Mr Al Assad for non-violent "crimes", including peaceful protests, committed since the start of the uprising in March.
Tens of thousands more remain in detention, rights groups say.
Pro-regime figures believe the monitors' presence has benefited Mr Al Assad and that extending their remit for another month will further bolster the embattled president's position.
"Having the monitors here has made it very clear to the world that President Assad still has real support here and that there are armed groups, not just peaceful protests," said one pro-regime political figure on condition of anonymity.
"Letting the monitors in has been a clever strategy. It has pleased the Russians and will block any consensus from forming at the United Nations Security Council," he added.
Moscow, a key ally and arms supplier to Mr Al Assad, has given its backing to the observers' mission while continuing to prevent any resolution critical solely of the Syrian regime from making headway at the Security Council.
Syrian officials believe as long as there is no international military involvement in the crisis, the regime will survive the uprising.
Even while the SNC has denied the mission has improved the situation in Syria, some opposition figures and groups believe they are benefiting from the monitors.
Some prisoners have been freed, they note, and while military operations and killings have not stopped they have been scaled back.
Protests have been emboldened, with neighbourhoods coming out to speak to monitors. Areas in which demonstrations had been all but crushed after Ramadan security offensives last year, such as Qaboun in Damascus, are once more staging anti-regime rallies.
The presence of observers has restrained the security forces from embarking on an immediate all-out assault to win it back, Syrian analysts say. Parts of Homs are already off-limits to the security forces and residents of Idleb province say armed opposition factions control areas during the night, with government forces withdrawing to fortified buildings after the sun sets.
Reports from the Damascus suburb of Douma over the weekend suggest it slipped briefly into the hands of protesters under armed rebel protection.
"The regime may think the monitors are helping it buy time but actually they are helping the protesters regroup and become stronger, and it will eventually help with isolating Syria on the international stage," said a leading opposition figure in Damascus, who supported the Arab League's decision.
It was clear that as the observer mission dragged on, there were major impacts on Syrians across the country. Food prices were rising alongside lay-offs, especially in the oil industry, which has been hard hit by the sanctions.
Maher Alwan, who said he was laid off from his petroleum industry job last year, said even in the relatively stable Damascus there were long queues for diesel and cooking gas, although in the capital they had become more widely available.
A canister of cooking gas now costs between 350 and 750 Syrian pounds (Dh22 and Dh47) on the black market, compared with the official price of 260 pounds.
"The problem is that it looks like there is no clear end to this black hole," Mr Alwan said, referring to the clashes between protesters and the government. "Things are getting worse with no clear end to this tragedy."
bhope@thenational.ae
psands@thenational.ae
* With Reuters, AFP and AP
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Company%20profile
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
COMPANY%20PROFILE
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More on animal trafficking
WHAT IS A BLACK HOLE?
1. Black holes are objects whose gravity is so strong not even light can escape their pull
2. They can be created when massive stars collapse under their own weight
3. Large black holes can also be formed when smaller ones collide and merge
4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
Company%20Profile
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Singham Again
Director: Rohit Shetty
Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone
Rating: 3/5
COMPANY PROFILE
Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed
The specs
Engine: 6.2-litre supercharged V8
Power: 712hp at 6,100rpm
Torque: 881Nm at 4,800rpm
Transmission: 8-speed auto
Fuel consumption: 19.6 l/100km
Price: Dh380,000
On sale: now
Nayanthara: Beyond The Fairy Tale
Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni
Director: Amith Krishnan
Rating: 3.5/5
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
The Pope's itinerary
Sunday, February 3, 2019 - Rome to Abu Dhabi
1pm: departure by plane from Rome / Fiumicino to Abu Dhabi
10pm: arrival at Abu Dhabi Presidential Airport
Monday, February 4
12pm: welcome ceremony at the main entrance of the Presidential Palace
12.20pm: visit Abu Dhabi Crown Prince at Presidential Palace
5pm: private meeting with Muslim Council of Elders at Sheikh Zayed Grand Mosque
6.10pm: Inter-religious in the Founder's Memorial
Tuesday, February 5 - Abu Dhabi to Rome
9.15am: private visit to undisclosed cathedral
10.30am: public mass at Zayed Sports City – with a homily by Pope Francis
12.40pm: farewell at Abu Dhabi Presidential Airport
1pm: departure by plane to Rome
5pm: arrival at the Rome / Ciampino International Airport
Company%20Profile
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The specs
Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
On sale: Now
From Zero
Artist: Linkin Park
Label: Warner Records
Number of tracks: 11
Rating: 4/5
The specs
Engine: 77.4kW all-wheel-drive dual motor
Power: 320bhp
Torque: 605Nm
Transmission: Single-speed automatic
Price: From Dh219,000
On sale: Now
UAE'S%20YOUNG%20GUNS
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COMPANY%20PROFILE
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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.”
Starring: Jamie Foxx, Angela Bassett, Tina Fey
Directed by: Pete Doctor
Rating: 4 stars
THE SPECS
GMC Sierra Denali 1500
Engine: 6.2-litre V8
Transmission: 10-speed automatic
Power: 420hp
Torque: 623Nm
Price: Dh232,500
The%20Caine%20Mutiny%20Court-Martial%20
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