Arab countries on Tuesday welcomed the signing of a deal to integrate the Kurdish-led Syrian Democratic Forces (SDF) into Syria's state institutions, describing it as a crucial step towards strengthening security in the country.
Syria's interim government reached a landmark deal with the SDF, the presidency announced on Monday evening, agreeing to guarantee the citizenship rights of the Kurdish people in Syria, a ceasefire on all Syrian territories and cementing the rights of all Syrians to representation and participation in the political process. They also agreed to integrate all civil and military institutions in north-east Syria into the state by the end of the year, bringing most of Syria under government control.
Saudi Arabia lauded the signing of the agreement and commended “measures taken by the Syrian leadership to preserve civil peace in Syria”, a statement posted by the kingdom's Foreign Ministry on X said. “The kingdom reiterates its full support for Syria's unity, sovereignty, and territorial integrity.”
The Qatari Foreign Ministry said: “This agreement represents an important step towards strengthening civil peace, enhancing security and stability, and building a state of institutions and law. The stability and prosperity of Syria requires the state to monopolise weapons in a single army that represents all Syrian components, in a way that ensures the preservation of the country’s sovereignty, independence, and territorial integrity.”
Kuwait issued a similar statement, highlighting the importance of the deal in rebuilding Syrian state institutions and enhancing security as well as stability.
The Jordanian Foreign Ministry heralded the development as an “important step towards rebuilding Syria on the foundations that guarantee its unity, sovereignty and stability, preserve its security, rid it of terrorism, and protect the rights of all the sons of the brotherly Syrian people”. The ministry's spokesman, Dr Sufian Qudah, affirmed Jordan's support for “sisterly Syria”.
The deal was signed by Syrian leader Ahmad Al Shara and the head of the SDF, Mazloum Abdi, who described it as a “real opportunity to build a new Syria”.
“We are committed to building a better future that guarantees the rights of all Syrians and fulfils their aspirations for peace and dignity,” he posted on X.
Later on Tuesday, Turkish President Recep Tayyip Erdogan welcomed the agreement, saying its full implementation would contribute to security and stability in the country. “The full implementation of the agreement reached yesterday in Syria will contribute to the country’s security and stability. The beneficiaries of this will be all our Syrian brothers and sisters,” Mr Erdogan said.
“The United States welcomes the recently announced agreement between the Syrian interim authorities and the Syrian Democratic Forces to integrate the north-east into a unified Syria,” Secretary of State Marco Rubio said.
The SDF, founded in 2015 with US support, controls parts of north-east Syria and was crucial in wresting the country from ISIS control in 2019. The militia is made up of mostly Kurdish fighters from the Kurdish Protection Units (YPG), linked to the Kurdistan Workers' Party (PKK), a separatist group that Turkey, the EU and the US have designated as a terrorist organisation.
Syrian state media published photos showing large gatherings of residents celebrating the agreement and chanting support for the government, which has vowed to bring about national unity.
The deal comes after days of bloody clashes in the coastal areas of the country between pro-government security troops and opposing armed groups, who Damascus accused of being loyal to the former regime. At least 1,300 people, including 800 civilians, most of them Alawites, have been killed in Syria since Thursday, according to the Syrian Observatory for Human Rights, a war monitor based in the UK.
Syrian state media reported several Israeli air strikes in the southern province of Deraa on Monday night. “The Israeli occupation aircraft carried out several strikes on the surroundings of the towns of Jbab and Izraa in the north of Deraa,” the Sana state news agency said. The UK-based war monitor said Israeli aircraft carried out 17 strikes, attacking several positions of the former Syrian army.
The Israeli army on Tuesday said it attacked military headquarters and sites containing weapons and equipment overnight in southern Syria.
Last month, Israeli Prime Minister Benjamin Netanyahu said southern Syria must be completely demilitarised, warning his government would not accept the presence of troops belonging to the new authorities near its territory. Israeli troops have also entered a UN-patrolled buffer zone near the occupied Golan Heights since former Syrian president Bashar Al Assad was ousted in December.
Paatal Lok season two
Directors: Avinash Arun, Prosit Roy
Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong
Rating: 4.5/5
Results
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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.”
The specs
Engine: Four electric motors, one at each wheel
Power: 579hp
Torque: 859Nm
Transmission: Single-speed automatic
Price: From Dh825,900
On sale: Now
The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
The specs: 2018 Nissan Altima
Price, base / as tested: Dh78,000 / Dh97,650
Engine: 2.5-litre in-line four-cylinder
Power: 182hp @ 6,000rpm
Torque: 244Nm @ 4,000rpm
Transmission: Continuously variable tranmission
Fuel consumption, combined: 7.6L / 100km
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
ESSENTIALS
The flights
Fly Etihad or Emirates from the UAE to Moscow from 2,763 return per person return including taxes.
Where to stay
Trips on the Golden Eagle Trans-Siberian cost from US$16,995 (Dh62,414) per person, based on two sharing.
Marathon results
Men:
1. Titus Ekiru(KEN) 2:06:13
2. Alphonce Simbu(TAN) 2:07:50
3. Reuben Kipyego(KEN) 2:08:25
4. Abel Kirui(KEN) 2:08:46
5. Felix Kemutai(KEN) 2:10:48
Women:
1. Judith Korir(KEN) 2:22:30
2. Eunice Chumba(BHR) 2:26:01
3. Immaculate Chemutai(UGA) 2:28:30
4. Abebech Bekele(ETH) 2:29:43
5. Aleksandra Morozova(RUS) 2:33:01
RESULTS
1.45pm: Handicap (TB) Dh80,000 (Dirt) 1,400m
Winners: Hyde Park, Royston Ffrench (jockey), Salem bin Ghadayer (trainer)
2.15pm: Conditions (TB) Dh100,000 (D) 1,400m
Winner: Shamikh, Ryan Curatolo, Nicholas Bachalard
2.45pm: Conditions (TB) Dh100,000 (D) 1,200m
Winner: Hurry Up, Royston Ffrench, Salem bin Ghadayer.
3.15pm: Shadwell Jebel Ali Mile Group 3 (TB) Dh575,000 (D) 1,600m
Winner: Blown by Wind, Xavier Ziani, Salem bin Ghadayer
3.45pm: Handicap (TB) Dh72,000 (D) 1,600m
Winner: Mazagran, Tadhg O’Shea, Satish Seemar.
4.15pm: Handicap (TB) Dh64,000 (D) 1,950m
Winner: Obeyaan, Adrie de Vries, Mujeeb Rehman
4.45pm: Handicap (TB) Dh84,000 (D) 1,000m
Winner: Shanaghai City, Fabrice Veron, Rashed Bouresly.
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
