Fighting between India and Pakistan hasn’t stopped entirely but the threat of nuclear war has receded for the moment.
On Saturday, heavy shelling and a dozen deaths of civilians and soldiers were reported along the border in the disputed region of Kashmir. Unfortunately, that is pretty normal, and the nuclear-armed neighbours do seem to have pulled back from any unusually provocative actions.
Anything else would mean a catastrophe, as the 64-country group International Physicians for the Prevention of Nuclear War warned during the high tensions of the past week. Any use of nuclear weapons would “quickly kill millions” in South Asia, the federation of medical bodies said. It added that such action would cause “an unprecedented global catastrophe” because the blasts would “create firestorms, severely disrupt the global climate and lead to worldwide crop shortages and starvation” affecting at least two billion people.
For now, such a vision seems likely to be confined to the pages of a dystopian novel. But that doesn’t mean there’s no reason to worry. The dangers of a nuclear holocaust will remain acute when neighbouring countries with the appropriate weapons also have all of the following: an intractable dispute; an emotive list of grievances against each other; hyper-nationalist news channels and jingoistic social media warriors.
For India and Pakistan, there are two other key ingredients to add to that volatile mix. India is soon to go to the polls, which means prime minister Narendra Modi and his Hindu nationalist BJP need to project a righteous, avenging fury and unyielding might. And there is little sign that Pakistan's powerful army is backing away from its self-serving doctrine of religiously infused paranoia, for all that prime minister Imran Khan graciously – and speedily – returned a captured Indian pilot on Friday as a "peace gesture".
Even so, three marginally positive points emerge from the tense situation of the past week.
First, neither India nor Pakistan really seemed to want all-out war, so much as a ritualistic war dance. It’s worth noting that New Delhi and Islamabad managed to lower the tensions largely on their own, although there may have been some quiet intervention by China. Pakistan’s foreign minister has since claimed the Chinese will send a special envoy to the region. Overall though, with the United States pretty much missing in action, it fell to India and Pakistan themselves to prevent the situation from spiralling out of control. And that is exactly what happened. Mr Khan made a matter-of-fact announcement in parliament of the impending release of the captured Indian pilot. India followed this with low-key statements. Although some Indian and Pakistani commentators and social media armies on either side continue to gloat about the other’s alleged loss of face, prestige and bargaining chips, the two governments have been relatively restrained after all the histrionics.
Second, although international pressure was not much in evidence, it became clear there’s no longer any tolerance – even for reasons of realpolitik – of any support to declared terrorist groups. Australia and France issued exceedingly strong statements demanding that Pakistan take action against Jaish-e-Mohammed (JeM) and other extremist groups on its territory. Foreign ministers of the 57-member Organisation of Islamic Co-operation meeting in Abu Dhabi at the weekend disregarded the Pakistani foreign minister’s refusal to attend because his Indian counterpart Sushma Swaraj was the invited guest of honour. Even China, which habitually supports Pakistan, endorsed India’s decision to bomb what it said was a JeM training camp on Pakistani soil. “Fighting terrorism is a global practice,” China said, later joining with Russia to declare that “terrorist groups cannot be supported and used in political and geopolitical goals”.
Interestingly, prominent Pakistanis across the political divide have been speaking out too against their country’s inability or unwillingness to excise JeM, Jaish Al Adl and the Pakistani Taliban. Rustam Shah Mohmand, a former ambassador to Afghanistan who belongs to the governing Pakistan Tehreek-e-Insaf party, said on February 27 that Pakistan should rethink its attitude to these terrorist groups, which were not helping its cause. So did Husain Haqqani, former ambassador to Sri Lanka and the US, and once a spokesman for prime minister Benazir Bhutto of the Pakistan People’s Party.
Finally, the commentary in the aftermath may be an indicator of where things stand. Some of it remains intensely competitive. Indians insist that Pakistan bowed to pressure in releasing their pilot; Pakistanis claim their country won the overall perception battle as negotiators for peace. Both statements, incidentally, are probably true. But it is in the more sober assessments that one might find some idea of how Indians and Pakistanis see their yoked tomorrows. Many are expressing their opposition to war – all war – for any reason. Many more are calling out the good and bad deeds of politicians – their own and on the other side. That is exactly how a constituency for peace is built. It may still happen.
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
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
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
Match info
Uefa Champions League Group F
Manchester City v Hoffenheim, midnight (Wednesday, UAE)
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
Important questions to consider
1. Where on the plane does my pet travel?
There are different types of travel available for pets:
- Manifest cargo
- Excess luggage in the hold
- Excess luggage in the cabin
Each option is safe. The feasibility of each option is based on the size and breed of your pet, the airline they are traveling on and country they are travelling to.
2. What is the difference between my pet traveling as manifest cargo or as excess luggage?
If traveling as manifest cargo, your pet is traveling in the front hold of the plane and can travel with or without you being on the same plane. The cost of your pets travel is based on volumetric weight, in other words, the size of their travel crate.
If traveling as excess luggage, your pet will be in the rear hold of the plane and must be traveling under the ticket of a human passenger. The cost of your pets travel is based on the actual (combined) weight of your pet in their crate.
3. What happens when my pet arrives in the country they are traveling to?
As soon as the flight arrives, your pet will be taken from the plane straight to the airport terminal.
If your pet is traveling as excess luggage, they will taken to the oversized luggage area in the arrival hall. Once you clear passport control, you will be able to collect them at the same time as your normal luggage. As you exit the airport via the ‘something to declare’ customs channel you will be asked to present your pets travel paperwork to the customs official and / or the vet on duty.
If your pet is traveling as manifest cargo, they will be taken to the Animal Reception Centre. There, their documentation will be reviewed by the staff of the ARC to ensure all is in order. At the same time, relevant customs formalities will be completed by staff based at the arriving airport.
4. How long does the travel paperwork and other travel preparations take?
This depends entirely on the location that your pet is traveling to. Your pet relocation compnay will provide you with an accurate timeline of how long the relevant preparations will take and at what point in the process the various steps must be taken.
In some cases they can get your pet ‘travel ready’ in a few days. In others it can be up to six months or more.
5. What vaccinations does my pet need to travel?
Regardless of where your pet is traveling, they will need certain vaccinations. The exact vaccinations they need are entirely dependent on the location they are traveling to. The one vaccination that is mandatory for every country your pet may travel to is a rabies vaccination.
Other vaccinations may also be necessary. These will be advised to you as relevant. In every situation, it is essential to keep your vaccinations current and to not miss a due date, even by one day. To do so could severely hinder your pets travel plans.
Source: Pawsome Pets UAE
FIGHT%20CARD
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Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%203S%20Money%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202018%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20London%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Ivan%20Zhiznevsky%2C%20Eugene%20Dugaev%20and%20Andrei%20Dikouchine%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20FinTech%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20%245.6%20million%20raised%20in%20total%3C%2Fp%3E%0A
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
OPENING FIXTURES
Saturday September 12
Crystal Palace v Southampton
Fulham v Arsenal
Liverpool v Leeds United
Tottenham v Everton
West Brom v Leicester
West Ham v Newcastle
Monday September 14
Brighton v Chelsea
Sheffield United v Wolves
To be rescheduled
Burnley v Manchester United
Manchester City v Aston Villa
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.”
