A new survey has found strong support across the Arab world for the UAE in its diplomatic row with Iran over the occupied islands.
Of 2,066 people surveyed in 18 countries - from Oman to Morocco - for Al Aan TV's Nabd al Arab (Arabs' Pulse) programme by the pollster YouGov, almost nine in 10 (87 per cent) respondents expressed support for the UAE.
The survey was conducted after the April visit to Abu Musa by the Iranian president, Mahmoud Ahmadinejad, but before yesterday's trip by the head of Iran's Revolutionary Guard, Maj Gen Mohammad-Ali Jafari, to the island, and to Greater and Lesser Tunb.
During his visit, Mr Ahmadinejad gave a speech in which he insisted the Gulf should be called the "Persian Gulf" and claimed Iranian sovereignty over the three islands.
Iran invaded the islands on the eve of the UAE's foundation in 1971. Since then, the UAE has repeatedly pressed its claim through international bodies and in direct discussions with Iran.
The UAE immediately declared Mr Ahmadinejad's visit to be provocative, recalling its ambassador to Tehran and calling on the country to engage in dialogue to solve the dispute.
Dr Mariam Lootah, a political science professor at UAE University, said the Arab solidarity was not surprising. The UAE's security was important for the rest of the Arab world, she said.
Ali Jassim, an FNC member from Umm Al Quwain, stressed the importance of political knowledge and patriotism to maintain that solidarity. "There are no strong bonds [like before]," he said. "The idea of Arab patriotism needs to be strengthened."
Across all countries, there is agreement (63 per cent) that the Iranian president's visit was a provocative act that violated the UAE's sovereignty over the islands, with just 9 per cent disagreeing. The feeling is even stronger among the 167 surveyed in the UAE, with four in five (80per cent) agreeing, and just 4 per cent disagreeing.
Few, however, are optimistic that the dispute will be resolved any time soon. Just 36 per cent of those polled in all 18 countries - and 37 per cent in the UAE - believe an early settlement is possible.
On almost all questions, support for the UAE is strongest in the GCC. Theodore Karasik, a political analyst and head of research at Inegma, said that as a union, aggression against one GCC country was keenly felt by the others.
The survey reveals, however, varying knowledge of the dispute beyond the Gulf.
Most UAE residents consider they know at least something of the issues, and GCC residents are only a almost as well informed - with 59 per cent saying they have some notion of them.
That number is considerably lower, however, in further-flung Arab countries, such as Morocco (44 per cent) and Algeria (33 per cent).
Maysoon Baraky, the presenter of Nabd Al Arab, said the level of Arab support for the UAE is striking even though "so many admit ignorance of the issue entirely".
Respondents were divided, however, about Iran's motive behind the occupation. Across the Arab world, more than four in five (84 per cent) believe it treasured the islands' strategic location at the mouth of the Strait of Hormuz, through which a third of world oil trade passes.
A similar number (89 per cent) believe Iran seeks control over the oil trade in the area, and 85 per cent believe Iran seeks the oil under the islands themselves.
Almost as many think Iran seeks the ability to attack the GCC or to attack or deter US Navy troops.
Yet 82 per cent agree that Iran's actions may be more for psychological than strategic purposes.
Mr Jassim said the truth was probably a combination of all these factors.
"These islands are in the middle of the trade passage, that's why it is important," he said. "Some areas have petrol, it is in a strategic location, it has natural resources - these are all the reasons."
When it came to the UAE's response to the visit, respondents living here were unsurprisingly more vocal than others in their support.
Four in five UAE residents agreed with the UAE's condemnation of the visit, against 63 per cent of the 1096 people surveyed in the GCC as a whole.
And UAE respondents were almost unanimous in their support of the country's recall of its ambassador to Tehran, with 95 per cent agreeing. In the wider Arab world, that figure was 73 per cent.
But they were split on whether the visit called for international intervention- 51 per cent agreed, but 49 per cent disagreed. The GCC was similarly divided, as was the rest of the Arab world.
Mr Jassim noted that if Iran really was the rightful owner to the islands, it would not fear international arbitration.
"Why are they scared of an international ruling if they have proof?" he added.
* 2,066 people in 18 Arab countries responded to the survey between 26 April and 6 May. The margin of error for the whole survey was 2 percentage points, for the GCC 3 points, and for the UAE 8 points.
osalem@thenational.ae
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The specs
Engine: Direct injection 4-cylinder 1.4-litre
Power: 150hp
Torque: 250Nm
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FULL%20RESULTS
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In numbers: PKK’s money network in Europe
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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
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.
Brief scores:
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The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
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Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
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Price: From Dh330,000 (estimate)
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Engine: 2.0-litre 4-cylinder turbo
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If you go
The flights
There are various ways of getting to the southern Serengeti in Tanzania from the UAE. The exact route and airstrip depends on your overall trip itinerary and which camp you’re staying at.
Flydubai flies direct from Dubai to Kilimanjaro International Airport from Dh1,350 return, including taxes; this can be followed by a short flight from Kilimanjaro to the Serengeti with Coastal Aviation from about US$700 (Dh2,500) return, including taxes. Kenya Airways, Emirates and Etihad offer flights via Nairobi or Dar es Salaam.
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
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
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.”
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Other key dates
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Finals draw: December 2
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Finals (including semi-finals and third-placed game): June 5–9, 2019
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Euro 2020 play-off draw: November 22, 2019
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Euro 2020 play-offs: March 26–31, 2020
THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
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The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
Election pledges on migration
CDU: "Now is the time to control the German borders and enforce strict border rejections"
SPD: "Border closures and blanket rejections at internal borders contradict the spirit of a common area of freedom"
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
UAE currency: the story behind the money in your pockets
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