The logic of Libya's immigration demands



"It is legitimate that Libya demands the European Union to pay €5 billion (Dh25.4 billion) per year in order for Tripoli to help to address illegal migration to Europe," noted the London-based newspaper Al Quds al Arabi.

The initiative, if answered positively, would benefit Europe, which so far has failed to effectively fight this phenomenon. Countering illegal migration has been a drain on the budget of Northern African countries, and also caused security problems. The Maghreb states, for example, experience the infiltration of immigrants from sub-Saharan countries, many of whom remain for a period of time to save enough money in order to cross the Mediterranean Sea.

For this reason, other Maghreb countries need to join Libya and demand reimbursement as well. All stakeholders - Europe and Northern African countries - should be aware that illegal immigration can have serious economic and security implications, especially with the rising risk posed by al Qa'eda. "In this context, we hope Libya and other Maghreb countries not only demand financial compensation. They should also make other political demands, such as a European foreign policy that supports the Palestinian cause, and condemns the Israeli crimes in the Occupied Territories."

Iran and Syria's quiet honeymoon continues 

An opinion piece in the pan-Arab newspaper Asharq al Awsat, Adel al Tarifi said that the Syrian-Iranian summit came to solidify the strong role of Damascus as a mediator between Tehran and the international community. It also showed that Damascus is the only Arab country that has some influence on Iran.

The West has grown convinced that Syria's relations with Tehran are so close that their interests are intertwined. Interestingly, even though the two countries have different ideological perspectives, they have succeeded in maintaining their alliance for more than 30 years. Some even argue that the stability of both regimes depend on the other by way of advocating the option of "resistance".

The good relations between the two countries can be beneficial in helping the international community to establish channels of communication with various groups that Iran supports. And perhaps this has encouraged many Arab and western countries, including the US, to accept the idea of re-integrating Syria as a full member of the international community.

So far, the alliance between Syria and Iran has surprisingly survived the ideological differences since it is based on common interests and balance of power. It is expected to endure as long as the US regional in the region and alliances remain unchanged.

Provocation doesn't work for Iran or Israel 

"Whether you care for Iran and its politics isn't the issue. The issue here is whether you care for Lebanon and its sovereignty," says columnist Rajeh al Khouri in an article for Lebanese daily Annahar.

It is on this basis that US positions toward the Iranian president Mahmoud Ahmadinejad's planned visit to Lebanon next week can be qualified as utterly insolent. They provoke the Lebanese people's sensibilities, not because the Lebanese-Iranian relationship is good, nor because Tehran repeatedly expressed its preparedness to help the country, not even because a large faction of the people support Iran.

What is infuriating is that Israeli insolence and US political idiocy mean that Lebanon is treated as an immature state devoid of any sovereignty or independence. Israel has continued its impertinent political aggression by sending message after message to Beirut via the US, France and the UN secretary-general warning that Mr Ahmadinejad's visit might have serious implications in the region. It even went so far as to demand the Lebanese president and the prime minister to cancel the visit.

It is unprecedented in the history of civilised countries for a state to demand another to cancel a president's official visit. If the state of Israel has no claim to civility and respect of the sovereignty of other nations, it is strange that other states would agree to deliver its rude messages.

Two views on tribunal but not on security 

If a referendum was held on the International Tribunal for Lebanon, Lebanese political players would express two opposing views but at least they would agree on rejecting any incitement to violence, argues Saad Mehio in an opinion piece for the UAE newspaper Al Khaleej.

Both the March 8 and March 14 coalitions will be against the tribunal. They will possibly describe it as a "politicised" tool that Israel and the US use to spark internal crises. The March 14 alliance forces will accept the role of the tribunal to exercise justice, but they might oppose it if it ever stands in the way of peace. For March 14 politicians, it is important to maintain the tribunal. They think that any attempt to disengage from the tribunal means breaking the alliance with the West and other moderate Arab states. The March 8 alliance, however, looks into this issue as a major conspiracy knitted by the West.

Between the two camps stands the populace, who care less about regional or international considerations when judging the role of the tribunal. Mostly, the Lebanese are interested in immediate matters related to security and livelihood.

* Digest compiled by Mostapha Almouloudi

'Manmarziyaan' (Colour Yellow Productions, Phantom Films)
Director: Anurag Kashyap​​​​​​​
Cast: Abhishek Bachchan, Taapsee Pannu, Vicky Kaushal​​​​​​​
Rating: 3.5/5

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
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.”

Anghami
Started: December 2011
Co-founders: Elie Habib, Eddy Maroun
Based: Beirut and Dubai
Sector: Entertainment
Size: 85 employees
Stage: Series C
Investors: MEVP, du, Mobily, MBC, Samena Capital

Brief scoreline:

Al Wahda 2

Al Menhali 27', Tagliabue 79'

Al Nassr 3

Hamdallah 41', Giuliano 45 1', 62'

UAE currency: the story behind the money in your pockets