A young girl plays near the  controversial separation barrier in East Jerusalam. One reader writes to complain that our headline is misleading, and enmity between Jews and Arabs is not much older than the wall itself.
A young girl plays near the controversial separation barrier in East Jerusalam. One reader writes to complain that our headline is misleading, and enmity between Jews and Arabs is not much older thanShow more

How the Iranians differ from the Arabs



Abdul Rahman al Rashed highlighted some similarities and differences between Arabs and Iranians in a piece in the London-based Asharq Al Awsat. Iranians and Arabs, though they live in the same geographical area and embrace the same religion, have had different historical experiences, he explained. "Arabs are comprised of people from different ancestries and they are distributed over two adjacent continents, while Iranians mostly live within the borders of one country and have a single language that few speak outside these borders."
It is not difficult then, maintained the writer, to understand why Iran had always looked towards the Arab world and beyond. "Iran would always like to step out of its cage. Mohammad Reza Shah Pahlavi had done just this by building a military arsenal to be the police force of the region. Similarly, after the Islamic revolution, Iranians pursued the same trend, insisting on maintaining the upper hand on regional issues."
The recent events in Iran highlighted the wide differences in attitudes between the neighbouring peoples, the writer added. The popular protests were reminiscent of those at the start of the Islamic revolution. They were "bottom up" movements that would occur no matter how well the regime suppresses them. In the history of the modern Arab world most popular protests were orchestrated from the top, which caused them to have very limited impact, Mr al Rashed added.
"The US president Barack Obama clearly expressed the US position regarding the ambiguous statements made by the US vice president Joseph Biden in an interview last week that were taken by the media to mean that he had given a green light for Israel to set its own course on Iran," wrote Hassan Shukri Fulful in the Qatari newspaper al Watan. "'Israel has a right to determine what's in its interests, and we have a right and we will determine what's in our interests,' said Mr Biden, pushing Mr Obama to address the situation on July 7th, denying that any decision to allow Israel to attack Iran's nuclear facilities had been made. At the same time, Mr Obama stressed that the US favoured solving the Iranian issue through diplomacy.
"Mr Obama has just reinforced the US position that has always rejected undertaking military operations against Iran." Conducting a military strike against Iran is out of the question because of logistic constraints as well as potential reactions by the Iranians, the writer added. "As such, by trying to create division within the US administration, those in Zionist circles would like to exert more pressure on the US," wrote Mr Fulful.
Commenting on the US security forces' withdrawal from urban areas in Iraq, Dr Saleh Abul Rahman al Mania wrote in an opinion piece for the UAE newspaper Al Ittihad that Iraq was in a transitional period. The transfer of power had stirred a feeling of insecurity, because the Iraqi army formed in the last three years still lacked proper field-training and suffered from many problems stemming from different sectarian loyalties.
It is of no surprise then, the author wrote, to see the number of terrorist attacks against civilians in northern Iraq and Baghdad increasing during this transition. "The problem that may now confront policy makers in Iraq is how to deal with these events as the government, which took power during the occupation, seems unable to adapt to the new situation. Mostly, it is unable to waive some of its political privileges and also could be afraid that a new elite will emerge to claim power."
Iraq needs help from friendly countries to find a resolution to its political impasse, the writer added. Iraq's neighbours, for example, can summon regional conferences under the umbrella of the Arab League or the Organisation of Islamic Conference where both the government and the opposition should devise a national plan for reconciliation, suggested the writer.
"Gulf states and other countries may face hard times when taxes on oil and its derivatives increase over claims of dumping," wrote Youssef al Quelt in the Saudi newspaper al Riyadh. It is possible that Gulf states would react by enforcing similar fiscal policies, "but given our needs for goods, equipment and machinery for building factories... we need dialogue and consensus on how to abide by international trade rules and regulations", added the writer. Gulf states maintain an outdated basis for diplomatic relations so many issues are left unresolved, Mr al Quelt argued. The Gulf states are facing a difficult test. "If they do not understand the nature of economic challenges ahead of them and design appropriate policies to defend their interests, they will all be weakened," the writer concluded.
* Digest compiled by Mostapha el Moulouli
melmoulouli@thenational.ae

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.”

Brief scores:

Manchester United 4

Young 13', Mata 28', Lukaku 42', Rashford 82'

Fulham 1

Kamara 67' (pen),

Red card: Anguissa (68')

Man of the match: Juan Mata (Man Utd)

2025 Fifa Club World Cup groups

Group A: Palmeiras, Porto, Al Ahly, Inter Miami.

Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.

Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.

Group D: Flamengo, ES Tunis, Chelsea, Leon.

Group E: River Plate, Urawa, Monterrey, Inter Milan.

Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.

Group G: Manchester City, Wydad, Al Ain, Juventus.

Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.

SPECS
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%20Dual%20electric%20motors%20with%20102kW%20battery%20pack%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E570hp%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ETorque%3A%3C%2Fstrong%3E%20890Nm%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERange%3A%3C%2Fstrong%3E%20Up%20to%20428km%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EOn%20sale%3A%3C%2Fstrong%3E%20Now%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh1%2C700%2C000%3C%2Fp%3E%0A
UAE currency: the story behind the money in your pockets
BAD%20BOYS%3A%20RIDE%20OR%20DIE
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NO OTHER LAND

Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal

Stars: Basel Adra, Yuval Abraham

Rating: 3.5/5

The%20specs
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Skewed figures

In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458. 

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

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 

ASHES FIXTURES

1st Test: Brisbane, Nov 23-27 
2nd Test: Adelaide, Dec 2-6
3rd Test: Perth, Dec 14-18
4th Test: Melbourne, Dec 26-30
5th Test: Sydney, Jan 4-8

The specs

Engine: 3.9-litre twin-turbo V8

Transmission: seven-speed

Power: 620bhp

Torque: 760Nm

Price: Dh898,000

On sale: now

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The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
MATCH INFO

Manchester City 1 Chelsea 0
De Bruyne (70')

Man of the Match: Kevin de Bruyne (Manchester City)

Ms Yang's top tips for parents new to the UAE
  1. Join parent networks
  2. Look beyond school fees
  3. Keep an open mind
Some of Darwish's last words

"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008

His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.

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
Results

2.30pm: Handicap (PA) Dh40,000 1,700m; Winner: AF Mezmar, Adam McLean (jockey), Ernst Oertel (trainer).

3pm: Maiden (PA) Dh40,000 2,000m; Winner: AF Ajwad, Tadhg O’Shea, Ernst Oertel.

3.30pm: Handicap (PA) Dh40,000 1,200m; Winner: Gold Silver, Sam Hitchcott, Ibrahim Aseel.

4pm: Maiden (PA) Dh40,000 1,000m; Winner: Atrash, Richard Mullen, Ana Mendez.

4.30pm: Gulf Cup Prestige (PA) Dh150,000 1,700m; Winner: AF Momtaz, Saif Al Balushi, Musabah Al Muhairi.

5pm: Handicap (TB) Dh40,000 1,200m; Winner: Al Mushtashar, Richard Mullen, Satish Seemar.

SPECS
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FULL%20FIGHT%20CARD
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