Raghida Dergham is the founder and executive chairwoman of the Beirut Institute, and a columnist for The National
July 16, 2023
At the recent Vilnius summit, Nato adopted a military, political and strategic action plan. Practical in its steps, ambitious in its aspirations, and canny in its ability to polarise, the plan is terrifying because it identifies military solutions as the only means to deal with Russia, effectively excluding diplomatic alternatives.
After the summit, it became evident that Nato aims to transform itself into a global alliance – referred to as the “globalisation of Nato” – to ensure its adaptability in the future. This much was confirmed by Secretary General Jens Stoltenberg, who emphasised the importance of deepening partnerships around the world.
Mr Stoltenberg chaired a meeting with allies from Australia, Japan, New Zealand and South Korea, in which he said that “Nato is a regional alliance between Europe and North America, but the challenges we face are global”, in reference to the Russian war in Ukraine and China’s increasing assertiveness.
Nato’s globalisation is a seismic development in the context of balancing international relations, both in the short and long term, and could have far-reaching consequences. One expert closely monitoring Asian-European-American relations described it as the establishment of a Nato-Asia alliance, tasked with confronting both China and Russia.
Japan, which regards China with suspicion, is taking a leading role in Asia. Its strategic partnership with the US, and improvement in its relations with South Korea, have even angered North Korea, which continues to provoke Tokyo by firing missiles towards it.
North Korea launched its Hwasong-18 intercontinental ballistic missile o Thursday. Reuters
The Vilnius summit’s logic dictated that neutrality is not an option, nor is resuming relations with Moscow
But the approach taken at recent Nato summits in categorising Russia and China as adversaries risks pushing both countries towards closer alignment, potentially creating significant problems for the alliance’s member states. The two countries’ leaders might meet at the Brics summit in late August to take stock of the Vilnius summit.
That said, Nato’s direct challenge remains countering Russia. The Vilnius summit’s logic dictated that neutrality is not an option, nor is resuming relations with Moscow (or in meeting its conditions regarding Nato membership expansion or potential Ukrainian membership). Kyiv, in fact, received unprecedented security guarantees from the alliance.
The summit’s logic also dictated that sanctions against Russia would continue, military support to Ukraine would increase, and member states would prepare themselves for a potential direct military confrontation with Moscow. With little room for repairing relations with Russia, tensions could spread to Ukraine’s neighbours such as Poland and Belarus.
The Vilnius summit shattered any hopes Moscow might have had to weaken Nato. In fact, the alliance’s cohesion and unity are stronger than ever.
Even worse from the Russian perspective, Ukrainian President Volodymyr Zelenskyy obtained significant commitments in Vilnius, with the result being that Kyiv has moved ever closer to Nato. Further, any prospect of a political solution was diminished after diplomacy was put on the backburner.
The refusal of the alliance’s military leaders to soften their stance against Russia could, in turn, intensify domestic pressure on Moscow to be more assertive.
Former president Dimitry Medvedev, currently serving as the deputy chairman of the Russian Security Council, has frequently spoken about the possibility of nuclear retaliation. Recently, he even stated that a Third World War could be approaching and that the establishment of a so-called “Ukraine-Nato” council could result in the annihilation of one of the parties involved.
Mr Medvedev, it is worth pointing out, continues to hold sway in Russian politics. He enjoys support from various factions within the military establishment as well as a substantial segment of public opinion, according to recent polls, although not a majority.
Russia’s critical nuclear sites and assets are located in likes of Kaliningrad, Crimea and Belarus. However, the Zaporizhia nuclear power plant remains the most dangerous friction point, due to the risk of a “nuclear incident” there, bearing in mind that the plant is situated in Ukraine and which Russia annexed last year. Zaporizhia is the focal point for those who believe that a pre-emptive nuclear war is inevitable.
Meanwhile, Turkey is part of the recent chain of events that has caused consternation in Moscow, not only due to Ankara’s withdrawal of its opposition to Sweden joining Nato, but also because of the implications of Mr Zelenskyy’s recent visit to the Turkish capital to meet President Recep Tayyip Erdogan.
Spanish Prime Minister Pedro Sanchez greets Ukrainian President Volodymyr Zelensky and Turkish President Recep Tayyip Erdogan in Vilnius on Wednesday. AFP
Turkey’s decision to release the commanders and members of the Azov battalion, which fiercely fought against the Russian forces in Mariupol, will have amounted to a setback for Moscow. It was probably compounded by the fact that Ankara allowed the fighters to return home on the same plane as Mr Zelenskyy. Kremlin spokesperson Dmitry Peskov told Russian news agency RIA that Ankara was supposed to keep the prisoners in the country, according to an agreement forged between Russia, Ukraine and Turkey.
Turkey has also reportedly agreed to establish a Bayraktar drone factory in Ukraine. More importantly, Mr Erdogan has embarked on a strategic shift in Turkey’s relations with the West through both Nato and the EU, where Sweden has pledged to support Ankara’s accession. This is in addition to the F-16 deal with the US, which practically nullifies the Russian-Turkish S-400 deal.
This has put Moscow in an awkward spot. Russia relies heavily on Turkey to facilitate the navigation and transit of its vessels through the Turkish straits, which represent a vital economic lifeline for Moscow in a time of sanctions. But some hardliners in Russia are now demanding that their government reject Ankara’s request to extend the Black Sea grain deal that Mr Erdogan brokered between Russia and Ukraine – and which expires tomorrow. Russia is unlikely to back down from some of the conditions it has placed in exchange for extending the grain deal. This could put a strain on Russian-Turkish relations.
As if it was not enough for Moscow that Kyiv received security guarantees from Nato, the Vilnius summit succeeded in robbing it of its hopes that Ankara would play a more supportive role. But what can Russia do in response? It is likely to threaten retaliation for what it sees as provocative escalations from the alliance, but following through with such a threat is likely to be difficult right now.
League D:
Azerbaijan, Macedonia, Belarus, Georgia, Armenia, Latvia, Faroe Islands, Luxembourg, Kazakhstan, Moldova, Liechtenstein, Malta, Andorra, Kosovo, San Marino, Gibraltar
How to apply for a drone permit
Individuals must register on UAE Drone app or website using their UAE Pass
Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
Upload the training certificate from a centre accredited by the GCAA
Submit their request
What are the regulations?
Fly it within visual line of sight
Never over populated areas
Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
Users must avoid flying over restricted areas listed on the UAE Drone app
Only fly the drone during the day, and never at night
Should have a live feed of the drone flight
Drones must weigh 5 kg or less
'The Ice Road'
Director: Jonathan Hensleigh
Stars: Liam Neeson, Amber Midthunder, Laurence Fishburne
2/5
10 tips for entry-level job seekers
Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
Keep track of the job trends in your sector through the news. Apply for job alerts at your dream organisations and the types of jobs you want – LinkedIn uses AI to share similar relevant jobs based on your selections.
Double check that you’ve highlighted relevant skills on your resume and LinkedIn profile.
For most entry-level jobs, your resume will first be filtered by an applicant tracking system for keywords. Look closely at the description of the job you are applying for and mirror the language as much as possible (while being honest and accurate about your skills and experience).
Keep your CV professional and in a simple format – make sure you tailor your cover letter and application to the company and role.
Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
Don’t be afraid to reach outside your immediate friends and family to other acquaintances and let them know you are looking for new opportunities.
Make sure you’ve set your LinkedIn profile to signal that you are “open to opportunities”. Also be sure to use LinkedIn to search for people who are still actively hiring by searching for those that have the headline “I’m hiring” or “We’re hiring” in their profile.
Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
Be professional and patient. Always be professional with whoever you are interacting with throughout your search process, this will be remembered. You need to be patient, dedicated and not give up on your search. Candidates need to make sure they are following up appropriately for roles they have applied.
Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
Finland 3-0 Armenia
Faroes Islands 1-0 Malta
Sweden 1-1 Spain
Gibraltar 2-3 Georgia
Romania 1-1 Norway
Greece 2-1 Bosnia and Herzegovina
Liechtenstein 0-5 Italy
Switzerland 2-0 Rep of Ireland
Israel 3-1 Latvia
The specs
Price: From Dh180,000 (estimate)
Engine: 2.0-litre turbocharged and supercharged in-line four-cylinder
Emirates (www.emirates.com) flies directly to Hanoi, Vietnam, with fares starting from around Dh2,725 return, while Etihad (www.etihad.com) fares cost about Dh2,213 return with a stop. Chuong is 25 kilometres south of Hanoi.
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
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 internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
