United Nations // The UN’s peace envoy for Syria told the Security Council on Thursday that he has no plans to convene a new round of peace talks in the next two or three weeks.
Staffan de Mistura briefed the council on his intention to start the next round of talks as soon as feasible “but certainly not within the next two/three weeks”, his office said.
According to diplomats who attended the briefing, the UN envoy said more progress was needed to strengthen a ceasefire and deliver humanitarian aid before talks could resume.
Two weeks of UN-brokered talks between the Syrian government and opposition groups in Geneva ended on April 27 with no breakthrough.
There had been expectations that a new round would be called at the end of May, but fighting has flared on the ground and aid deliveries to besieged areas continue to be blocked.
Diplomats said there was little chance that the opposition would take part in a new round of peace talks if violence was raging and no aid was reaching civilians.
The 20-nation group backing the Syrian peace process has said that it is up to Mr de Mistura to decide on the appropriate time to resume the talks.
The envoy has repeatedly called on the United States and Russia to take action to shore up the ceasefire that has been in place since February 27.
The peace talks are to reach a settlement to end the five-year war that has left 280,000 dead, driven millions from their homes and left hundreds of thousands cut off from food and medical supplies because of sieges and fighting.
Mr de Mistura said earlier on Thursday that many Syrians faced starvation if the regime and rebel groups do not allow greater access to humanitarian convoys.
There “are plenty of civilians at the moment in danger of starvation,” he said following the weekly meeting of the United Nations-backed humanitarian task force struggling to coordinate aid deliveries across Syria.
Mr de Mistura’s second-in-command and head of the task force, Jan Egeland, said it had proved far more difficult than expected to reach people in besieged and hard-to-reach parts of Syria this month.
“Of the one million people that we have planned and have tried to reach by land in May, we’ve only so far reached 160,000,” he said.
The UN says more than 400,000 people are living under siege in Syria, most of them in areas besieged by the regime.
In addition, more than four million people are living in so-called hard-to-reach areas that are generally near fighting and checkpoints, according to UN figures.
Since February, there have been efforts to dramatically scale up humanitarian aid access to these areas, but delivering supplies has become increasingly difficult amid a surge in violence that has left the February truce hanging by a thread.
Even areas where the UN had received full approvals to go in, “there has been infinite problems in actually reaching the places”, Mr Egeland said. In other areas where the approvals were based on a number of conditions, such as the besieged rebel held towns of Daraya and Douma, “we haven’t been able to reach the people at all”.
Mr Egeland said aid was also failing to reach the besieged towns of Moadamiya in rural Damascus and Al Waer, near Homs.
“I would say the situation is horrendously critical,” he said, referring to the crisis in the three besieged places.
“Children are so malnourished in these places that they will be dying if we are not able to reach them.”
* Agence France Presse
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.
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Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
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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
The Brutalist
Director: Brady Corbet
Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn
Rating: 3.5/5
Schedule
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SPECS
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Zombieland: Double Tap
Director: Ruben Fleischer
Stars: Woody Harrelson, Jesse Eisenberg, Emma Stone
Four out of five stars
Europe’s rearming plan
- Suspend strict budget rules to allow member countries to step up defence spending
- Create new "instrument" providing €150 billion of loans to member countries for defence investment
- Use the existing EU budget to direct more funds towards defence-related investment
- Engage the bloc's European Investment Bank to drop limits on lending to defence firms
- Create a savings and investments union to help companies access capital
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
Who is Ramon Tribulietx?
Born in Spain, Tribulietx took sole charge of Auckland in 2010 and has gone on to lead the club to 14 trophies, including seven successive Oceania Champions League crowns. Has been tipped for the vacant New Zealand national team job following Anthony Hudson's resignation last month. Had previously been considered for the role.
Company name: Farmin
Date started: March 2019
Founder: Dr Ali Al Hammadi
Based: Abu Dhabi
Sector: AgriTech
Initial investment: None to date
Partners/Incubators: UAE Space Agency/Krypto Labs
FIXTURES
Fixtures for Round 15 (all times UAE)
Friday
Inter Milan v AS Roma (11.45pm)
Saturday
Atalanta v Verona (6pm)
Udinese v Napoli (9pm)
Lazio v Juventus (11.45pm)
Sunday
Lecce v Genoa (3.30pm)
Sassuolo v Cagliari (6pm)
SPAL v Brescia (6pm)
Torino v Fiorentina (6pm)
Sampdoria v Parma (9pm)
Bologna v AC Milan (11.45pm)
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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.”