Sinai border attack: it's still too early to deal out accusations, especially against the Israelis
Speculation is rife as the people of Egypt and the region wait to learn the identity and the agenda of the attackers who killed 16 Egyptian border guards in Sinai last Sunday, wrote Abdullah Iskandar, managing editor of the London-based newspaper Al Hayat, in a column yesterday.
The bodies of the attackers, who were killed by Israeli soldiers stationed on the other side of the border, have been handed over to Egyptian authorities. Capturing their associates is the main target now.
But until that happens, the main suspects are said to be "jihadists" who call the Sinai desert home, the editor said. "Who these 'jihadists' are and whether they are 'locals' … are questions still waiting for answers."
Whatever the case, the attack has revealed a number of facts about the border triangle locking Gaza, Egypt and Israel together, the editor noted.
"Mainly, it has revealed the fragile security hold in Sinai and a level of porosity in the Gaza-Egypt border that allows such a high-profile, bloody attack to be undertaken with such ease."
It would have taken a long time and much effort, he added, to arrest the perpetrators had they chosen to escape into the desert instead of crossing into Israel. They were killed in a raid using the vehicle they had stolen from the Egyptian border post.
"The Egyptian-Palestinian borders are easily penetrated not just by smugglers of goods, but also by 'jihadists' from Egypt who find a safe haven in the Gaza Strip," the editor said.
"Every time an attack has happened in Sinai, against the Egyptian forces or against tourists, Cairo has declared its suspicions that elements from the Gaza Strip might be involved. And that's what it did after this last attack."
To be sure, this always ends up affecting the people of Gaza, with crossings and tunnels being closed by Egypt's own orders or under pressure from Israel.
"From this perspective, the outcome is actually positive for Israel," the editor pointed out. In the wake of every such attack, Israel comes across as militarily alert and strategically superior. Meanwhile, the Egyptian side looks unjustifiably slow on the draw.
"But focusing too much on this idea that Israel benefits most politically from these terrorist attacks must not preclude the responsibility to go after those who, through their acts, are serving Israeli interests, either by undermining Egypt's security or by giving Israel room to have a say on how the Palestinians should be handled."
All of the above, however, would not yet justify any accusation levelled at the Israeli side, as the Muslim Brotherhood was too quick to do. While the Israeli Mossad usually has no qualms orchestrating deadly attacks, it is way too soon, and simply unscientific, to accuse them already.
Supporting the Arab Spring more logical
Now and then, dissonant voices rise to question the Arab Spring, its timing, its nature and who is behind it, in a desperate attempt to confiscate the revolutions and the achievements made in many parts of the Middle East, argued Issa Al Omairi in the Kuwaiti newspaper Al Watan.
If a comparison were to be made between opponents and advocates of peoples' endeavours for liberation and dignity, long-trampled by ruling gangs, the balance would come out in favour of the pro-Arab revolutions, the writer said.
The concerns about chaos reigning in places that saw the Arab Spring would not be more terrible than the status quo in those countries, he went on. In other words, "change is, at worst, better that non-change".
"With all due respect to those analysts who warn of the dangers of the Arab Spring, it is my belief that our vision is the closest to reality."
But the "analysts" here do not include those groups who benefit from the dictatorial regimes staying in power. By supporting dictatorships, they are not only swimming against the current, they are being illogical and nonsensical.
Their stance has only one meaning: under the revolutions of the Arab Spring, they were deprived of the privileges they got under the dictatorships, he said.
People can no longer put up with dictators taking the lead in the Middle East and have to force them from power.
Dialogue conference must reach agreement
Equipped with many projects split between seeking to preserve Yemen's national unity and various self-interests, different Yemeni political parties are getting ready for the national dialogue conference slated for November, the UAE-based newspaper Al Khaleej saidin it editorial yesterday.
Yemenis have a long history when it comes to dialogue. Since the outbreak of the revolutions in the north and the south, Yemenis have entered into dialogues aimed at finding a way out of the crises and violence that marked successive political regimes.
However, the outcomes of those dialogues were sedatives, not solutions to problems; the issues flare up again in a more serious way once the sedation wears off, the editorial went on.
Today, Yemenis of all political stripes stand at a crossroads. Either they realise the dream of an agreement on a national plan to enforce constitutional reforms or they fall apart.
Only Yemenis can stand against the disintegration schemes concocted outside the country with the help of some Yemenis at home. All political forces must cling to dialogue, or else Yemen's political future will hang in the balance, the editorial said.
"This is contingent on the outcome of the national dialogue conference that must usher in new era."
* Digest compiled by The Translation Desk
translation@thenational.ae
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
Globalization and its Discontents Revisited
Joseph E. Stiglitz
W. W. Norton & Company
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
match info
Southampton 0
Arsenal 2 (Nketiah 20', Willock 87')
Red card: Jack Stephens (Southampton)
Man of the match: Rob Holding (Arsenal)
more from Janine di Giovanni
The biog
Favourite Quote: “Real victories are those that protect human life, not those that result from its destruction emerge from its ashes,” by The late king Hussain of Jordan.
Favourite Hobby: Writing and cooking
Favourite Book: The Prophet by Gibran Khalil Gibran
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
Points tally
1. Australia 52; 2. New Zealand 44; 3. South Africa 36; 4. Sri Lanka 35; 5. UAE 27; 6. India 27; 7. England 26; 8. Singapore 8; 9. Malaysia 3
The specs
Engine: four-litre V6 and 3.5-litre V6 twin-turbo
Transmission: six-speed and 10-speed
Power: 271 and 409 horsepower
Torque: 385 and 650Nm
Price: from Dh229,900 to Dh355,000
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
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Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
The specs: 2018 Chevrolet Trailblazer
Price, base / as tested Dh99,000 / Dh132,000
Engine 3.6L V6
Transmission: Six-speed automatic
Power 275hp @ 6,000rpm
Torque 350Nm @ 3,700rpm
Fuel economy combined 12.2L / 100km
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)
How it works
1) The liquid nanoclay is a mixture of water and clay that aims to convert desert land to fertile ground
2) Instead of water draining straight through the sand, it apparently helps the soil retain water
3) One application is said to last five years
4) The cost of treatment per hectare (2.4 acres) of desert varies from $7,000 to $10,000 per hectare
Mobile phone packages comparison
Copa del Rey
Barcelona v Real Madrid
Semi-final, first leg
Wednesday (midnight UAE)
Sri Lanka squad for tri-nation series
Angelo Mathews (c), Upul Tharanga, Danushka Gunathilaka, Kusal Mendis, Dinesh Chandimal, Kusal Janith Perera, Thisara Perera, Asela Gunaratne, Niroshan Dickwella, Suranga Lakmal, Nuwan Pradeep, Dushmantha Chameera, Shehan Madushanka, Akila Dananjaya, Lakshan Sandakan and Wanidu Hasaranga
Five%20calorie-packed%20Ramadan%20drinks
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COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EKinetic%207%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202018%3Cbr%3E%3Cstrong%3EFounder%3A%3C%2Fstrong%3E%20Rick%20Parish%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Abu%20Dhabi%2C%20UAE%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Clean%20cooking%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20%2410%20million%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Self-funded%3C%2Fp%3E%0A
Killing of Qassem Suleimani
Bareilly Ki Barfi
Directed by: Ashwiny Iyer Tiwari
Starring: Kriti Sanon, Ayushmann Khurrana, Rajkummar Rao
Three and a half stars
WITHIN%20SAND
%3Cp%3EDirector%3A%20Moe%20Alatawi%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Ra%E2%80%99ed%20Alshammari%2C%20Adwa%20Fahd%2C%20Muhand%20Alsaleh%3C%2Fp%3E%0A%3Cp%3ERating%3A%203%2F5%3C%2Fp%3E%0A
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-cylinder 2.5-litre
Transmission: Seven-speed auto
Power: 165hp
Torque: 241Nm
Price: Dh99,900 to Dh134,000
On sale: now
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat