ISLAMABAD // Pakistan’s army chief ended speculation he would try to stay on in what is often referred to as the country’s most powerful position, announcing that he would retire when his term ends in late November.
Gen Ashfaq Parvez Kayani has served two terms as head of the army at a time when it was mired in a vicious battle with Pakistani Taliban fighters at war with the state and fending off US allegations that the military was supporting Afghan insurgents staging attacks against American troops in Afghanistan.
Gen Kayani said on Sunday that he was to retire.
“I have served this great nation and had the privilege of commanding the finest Army of the world for six years to the best of my abilities and with the sincerest of my intentions,” Gen Kayani said. “My tenure ends on 29 November 2013. On that day I will retire.”
His tenure was marked by a peaceful transfer of power from one civilian government to another, a first for a country that has been dominated by a powerful military for most of its history.
The general was credited with publicly staying out of politics although the army continued to play a powerful role in the background, especially with regard to policy towards the Afghan war, US relations and relations with Pakistan’s neighbour and archenemy, India.
Relations with the US were severely tested by several episodes during Gen Kayani’s tenure including the covert American raid that killed Osama bin Laden near Pakistan’s equivalent of West Point in 2011.
Gen Kayani and other officials were outraged by the operation because they were not told about it beforehand and curtailed military and intelligence cooperation with the US.
American officials expressed disbelief that Pakistan did not know the Al Qaeda chief was hiding in the town of Abbottabad. The US never uncovered evidence indicating Gen Kayani or other senior officials knew bin Laden’s whereabouts, but suspicions about Pakistan’s loyalties remained.
During his tenure, Pakistan also launched numerous operations against militants in the tribal areas that have been waging war against the Pakistani state. Those operations sparked fierce retaliation by the militants against both civilian and military targets, and thousands of troops have been killed and wounded.
Despite the army’s efforts, however, violence has continued. Dealing with the insurgency will be a key task for the country’s next army chief, who will be appointed by prime minister Nawaz Sharif.
The appointment will be a challenge for Mr Sharif, who has had a rocky relationship with the military. He was deposed as prime minister in 1999 by Pervez Musharraf, the man that Gen Kayani succeeded as army chief in 2007.
The new army chief will also face an uprising by separatists in Pakistan’s southwestern Baluchistan province as well as heightened tensions along the de facto border that separates the Pakistani- and Indian-held sides of the disputed region of Kashmir.
Associated Press
The biog
Favourite food: Tabbouleh, greek salad and sushi
Favourite TV show: That 70s Show
Favourite animal: Ferrets, they are smart, sensitive, playful and loving
Favourite holiday destination: Seychelles, my resolution for 2020 is to visit as many spiritual retreats and animal shelters across the world as I can
Name of first pet: Eddy, a Persian cat that showed up at our home
Favourite dog breed: I love them all - if I had to pick Yorkshire terrier for small dogs and St Bernard's for big
Abaya trends
The utilitarian robe held dear by Arab women is undergoing a change that reveals it as an elegant and graceful garment available in a range of colours and fabrics, while retaining its traditional appeal.
A State of Passion
Directors: Carol Mansour and Muna Khalidi
Stars: Dr Ghassan Abu-Sittah
Rating: 4/5
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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
THE SPECS
2020 Toyota Corolla Hybrid LE
Engine: 1.8 litre combined with 16-volt electric motors
Transmission: Automatic with manual shifting mode
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Price: Dh95,900
THE SPECS
Engine: 4.0L twin-turbo V8
Gearbox: eight-speed automatic
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Fuel economy, combined: 11.4L/100km
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Super heroes
Iron Man
Reduced risk of dementia
Alcohol consumption could be an issue
Hulk
Cardiac disease, stroke and dementia from high heart rate
Spider-Man
Agility reduces risk of falls
Increased risk of obesity and mental health issues
Black Panther
Vegetarian diet reduces obesity
Unknown risks of potion drinking
Black Widow
Childhood traumas increase risk of mental illnesses
Thor
He's a god
The specs
Engine: 2.0-litre 4-cylinder turbo
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Transmission: Eight-speed auto
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How to play the stock market recovery in 2021?
If you are looking to build your long-term wealth in 2021 and beyond, the stock market is still the best place to do it as equities powered on despite the pandemic.
Investing in individual stocks is not for everyone and most private investors should stick to mutual funds and ETFs, but there are some thrilling opportunities for those who understand the risks.
Peter Garnry, head of equity strategy at Saxo Bank, says the 20 best-performing US and European stocks have delivered an average return year-to-date of 148 per cent, measured in local currency terms.
Online marketplace Etsy was the best performer with a return of 330.6 per cent, followed by communications software company Sinch (315.4 per cent), online supermarket HelloFresh (232.8 per cent) and fuel cells specialist NEL (191.7 per cent).
Mr Garnry says digital companies benefited from the lockdown, while green energy firms flew as efforts to combat climate change were ramped up, helped in part by the European Union’s green deal.
Electric car company Tesla would be on the list if it had been part of the S&P 500 Index, but it only joined on December 21. “Tesla has become one of the most valuable companies in the world this year as demand for electric vehicles has grown dramatically,” Mr Garnry says.
By contrast, the 20 worst-performing European stocks fell 54 per cent on average, with European banks hit by the economic fallout from the pandemic, while cruise liners and airline stocks suffered due to travel restrictions.
As demand for energy fell, the oil and gas industry had a tough year, too.
Mr Garnry says the biggest story this year was the “absolute crunch” in so-called value stocks, companies that trade at low valuations compared to their earnings and growth potential.
He says they are “heavily tilted towards financials, miners, energy, utilities and industrials, which have all been hit hard by the Covid-19 pandemic”. “The last year saw these cheap stocks become cheaper and expensive stocks have become more expensive.”
This has triggered excited talk about the “great value rotation” but Mr Garnry remains sceptical. “We need to see a breakout of interest rates combined with higher inflation before we join the crowd.”
Always remember that past performance is not a guarantee of future returns. Last year’s winners often turn out to be this year’s losers, and vice-versa.
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
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Bombshell
Director: Jay Roach
Stars: Nicole Kidman, Charlize Theron, Margot Robbie
Four out of five stars