A boy holds a baby near the village of Baghouz, Deir Ezzor province, Syria, March 1, 2019. REUTERS
A boy holds a baby near the village of Baghouz, Deir Ezzor province, Syria, March 1, 2019. REUTERS

ISIS is broken in Baghouz, but not yet destroyed



As the Syrian Democratic Forces make a final push against die-hard fighters in the eastern town of Baghouz, it is clear that ISIS's days as a military force and proto-state are over. However, it would be a mistake to consider the group defeated. Glenn A Fine, principal deputy inspector general of the US Department of Defence, stated in a recent report that "ISIS remains a potent force of battle-hardened and well-disciplined fighters that 'could likely resurge in Syria' [in the absence of] continued counterterrorism pressure". The group also has the potential to change tactics, splinter and morph into new and dangerous iterations.

The threat that ISIS continues to pose is illustrated by the high percentage of foreigners fleeing Baghouz. If ISIS's ideology was enough to compel such a large number of people to move thousands of kilometres to join its so-called caliphate, it is inevitable that many sympathisers will remain both in Syria and beyond. As detailed in The National's special report yesterday, SDF fighters even seized "pistols, hand grenades, laptops and other suspicious items" from women seeking to enter the displacement camps north of the town. There is also the question of what to do with those foreign nationals who made the journey to join ISIS. The SDF currently holds 850. It has called for them to be repatriated and tried in their home countries. However, many nations are reluctant to do this. Some, such as the UK and US, have stripped individuals of citizenship. France, meanwhile, has insisted that 13 of its nationals be transferred by the SDF to face trial in Iraq.

ISIS has also bequeathed a horrific legacy to the vast areas of territory it once so brutally dominated. The scars of its atrocities are deep and lasting. Collective memory will be haunted by its barbarism for decades to come. Meanwhile, for minority groups such as the Yazidis – against which ISIS perpetrated a campaign of genocide, enslavement, sexual abuse and indoctrination – life will never be the same. Take, for example, the teenage Yazidi boy fleeing Barghouz who heartbreakingly revealed that he no longer had any idea where his family was.

Meanwhile, even though President Bashar Al Assad’s grip on the country is tightening, Syria’s eight-year war is not yet over. UN special envoy Geir Pedersen has recently spoken of his intention to broaden the narrow focus on drafting a new constitution that consumed his predecessor Staffan de Mistura’s final months in the post. He has highlighted the need for diplomatic solutions and the importance of “building trust and confidence” between the Assad regime and the opposition, in order to finally put an end to this conflict. For the sake of the Syrian people we can only hope his plan succeeds.

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  • 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
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Test

Director: S Sashikanth

Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan

Star rating: 2/5

Pakistan Super League

Previous winners

2016 Islamabad United

2017 Peshawar Zalmi

2018 Islamabad United

2019 Quetta Gladiators

 

Most runs Kamran Akmal – 1,286

Most wickets Wahab Riaz –65

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Hotel Silence
Auður Ava Ólafsdóttir
Pushkin Press

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 chef's advice

Troy Payne, head chef at Abu Dhabi’s newest healthy eatery Sanderson’s in Al Seef Resort & Spa, says singles need to change their mindset about how they approach the supermarket.

“They feel like they can’t buy one cucumber,” he says. “But I can walk into a shop – I feed two people at home – and I’ll walk into a shop and I buy one cucumber, I’ll buy one onion.”

Mr Payne asks for the sticker to be placed directly on each item, rather than face the temptation of filling one of the two-kilogram capacity plastic bags on offer.

The chef also advises singletons not get too hung up on “organic”, particularly high-priced varieties that have been flown in from far-flung locales. Local produce is often grown sustainably, and far cheaper, he says.

The rules on fostering in the UAE

A foster couple or family must:

  • be Muslim, Emirati and be residing in the UAE
  • not be younger than 25 years old
  • not have been convicted of offences or crimes involving moral turpitude
  • be free of infectious diseases or psychological and mental disorders
  • have the ability to support its members and the foster child financially
  • undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
  • A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
Volvo ES90 Specs

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Specs

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