US regulators are gearing up for a vote on a plan which — depending on your viewpoint — would "restore internet freedom" or, alternatively, result in "the death of the internet" as we know it.
The Federal Communications Commission will consider a rollback of its 2015 order aimed at enforcing "net neutrality," or the notion of treating all data and content providers equally.
FCC chairman Ajit Pai last month unveiled the plan, the latest twist in a dispute over more than a decade, with both sides claiming to promote a "free and open" internet.
The plan, widely expected to be approved on a 3-2 party-line vote Thursday, would reverse the rules adopted two years earlier which ban broadband providers from blocking or throttling rivals, or using "fast" and "slow" lanes for different services.
Pai, named chairman by President Donald Trump, said the 2015 rules "depress investment and innovation."
Critics of the existing rules say they rely on 1930s-era rules for telephone companies, which could in theory lead to price regulation and other burdens.
But net neutrality backers argue that the rollback will enable internet service providers (ISPs) to shut out rivals that compete with their services or those of partners. They point out that some ISPs in the past have tried to force users to their own search engines, or block online calling services such as Skype or Vonage, or require a premium for Apple's FaceTime video calling.
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Read more:
The death of net neutrality may be just what the internet needs
Forget net neutrality, the internet needs data neutrality
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The Pai proposal "will lead to a dramatic transformation of how the internet works," said Sarah Morris, who heads the New America Foundation's Open Policy Institute.
"Internet service providers as gatekeepers have a lot of incentives to engage in shenanigans. The threats to our ability to navigate the internet and go to every corner of it are at risk" if the Pai plan is adopted, she told a conference on Tuesday.
Michael Powell, head of the trade group for major broadband firms NCTA — The Internet & Television Association, said member companies have agreed to respect principles to "satisfy their customers' desire to visit any lawful website or run any lawful application."
But some are not mollified by these assurances, arguing that broadband is largely controlled by a handful of firms — including AT&T, Verizon and Comcast — with little competition or consumer choice in many markets.
The question of "paid prioritisation," whether broadband firms can charge more for improved access, has been among the most hotly debated.
Critics say broadband firms would be able to extort higher fees and limit access for new start-ups if the proposal is adopted.
But University of California economist Michael Katz argues this is a basic business principal at work.
"The logic of net neutrality would also argue for banning e-commerce sites from purchasing faster delivery from FedEx or UPS, or from offering free shipping," Katz said in a research paper.
The net neutrality battle has been the subject of a series of court challenges over the past decade, and more litigation is likely unless Congress establishes clear guidelines.
Large tech firms like Google, Facebook and Netflix oppose the FCC draft rules, arguing that ISPs could effectively cut off or limit user access to some services.
But with political and public sentiment shifting against Silicon Valley in recent months, Pai has turned the tables by blaming the large tech platforms for limiting consumer choice.
"These providers routinely block or discriminate against content they don't like," Pai told a recent conference.
Pai said his plan would "restore a light-touch" regulatory approach, while arguing that "some have tried to whip Americans into a frenzy by making outlandish claims."
Still, the FCC actions have sparked protests around the country, and some 21 million comments in its online system. But the comment system was tainted by what appeared to be "bots," possibly from Russia, repeating similar messages.
"The FCC is on course to eliminate net neutrality guided by a record corrupted by hundreds of thousands of filings with stolen identities (and) close to half a million comments from Russian e-mail addresses," said FCC commissioner Jessica Rosenworcel, who opposes the Pai plain.
"No vote should take place until a responsible investigation is complete."
An FCC spokesman said the vote "will proceed as scheduled on December 14."
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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.”
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
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In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
Brief scoreline:
Manchester United 2
Rashford 28', Martial 72'
Watford 1
Doucoure 90'
How much sugar is in chocolate Easter eggs?
- The 169g Crunchie egg has 15.9g of sugar per 25g serving, working out at around 107g of sugar per egg
- The 190g Maltesers Teasers egg contains 58g of sugar per 100g for the egg and 19.6g of sugar in each of the two Teasers bars that come with it
- The 188g Smarties egg has 113g of sugar per egg and 22.8g in the tube of Smarties it contains
- The Milky Bar white chocolate Egg Hunt Pack contains eight eggs at 7.7g of sugar per egg
- The Cadbury Creme Egg contains 26g of sugar per 40g egg
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Where can I submit a sample?
Volunteers can now submit DNA samples at a number of centres across Abu Dhabi. The programme is open to all ages.
Collection centres in Abu Dhabi include:
- Abu Dhabi National Exhibition Centre (ADNEC)
- Biogenix Labs in Masdar City
- Al Towayya in Al Ain
- NMC Royal Hospital in Khalifa City
- Bareen International Hospital
- NMC Specialty Hospital, Al Ain
- NMC Royal Medical Centre - Abu Dhabi
- NMC Royal Women’s Hospital.
