KABUL // Afghanistan's electoral campaign season is well underway, with supporters of the main opposition candidate for the presidency holding a series of rallies across Kabul.
In the face of a growing Taliban-led rebellion that has spread to once-peaceful areas, the vote on Aug 20 is being seen as a key step towards stabilising the country.
The biggest challenger to the incumbent, Hamid Karzai, looks like it might be Abdullah Abdullah, his foreign minister until 2006 and a prominent member of the old Northern Alliance movement.
Rallies have been held throughout the city during recent days in an effort to drum up support for a man considered second favourite. They were often characterised by criticisms of the foreign occupation.
Speakers attacked Mr Karzai for being too close to Washington and failing to stop US air strikes from killing civilians. At one meeting, Mr Karzai's friendly relationship with George W Bush was compared unfavourably to the response of an Iraqi journalist who threw shoes at the former US president. Laughter and applause ensued.
Afghans attending the rallies have called on Mr Abdullah to have a more independent approach if he is elected.
Gul Baheid, a tribal elder from the eastern province of Paktia, said: "The first time the whole of Afghanistan voted for Karzai because they thought he was a mujahid and would work for the country. But instead he stole all our money and has just worked for the foreigners."
A total of 44 candidates are registered to stand in the presidential election, although a vetting process may whittle that further. After months of speculation regarding who will challenge Mr Karzai, many of the biggest names mentioned pulled out before the race had even begun.
They included Gul Agha Shirzai, the governor of Nangarhar province; Ali Ahmad Jalali, a former interior minister and Zalmay Khalilzad, who served as US ambassador to Afghanistan during the Bush administration.
That has arguably left Mr Abdullah as Mr Karzai's main rival. He enjoys the backing of a major opposition block made up of some of the country's most notorious warlords and his supporters regard him as a figure who can unite Afghanistan's different ethnic groups. However, his friendship with Ahmad Shah Massoud, the late mujahideen commander of the Northern Alliance, may ultimately alienate more people than it attracts.
Candidates have so far been reluctant to outline their policies, which means their personalities and connections are all that voters have to go on.
Bashir Banish Hanifi, 22, a student from the northern province of Badakhshan, described Mr Abdullah as "a jihadi" who could help bring peace and reduce nationwide unemployment. He added that the occupation should end, a demand none of the principal contenders are likely to agree with yet.
"My opinion is that we want the man we support to have his hands free. If the foreigners leave the country and let the government work alone, that will be better. A lot of people believe the foreigners are trying to make the situation worse," he said.
The 2004 presidential elections were also supposed to be a significant step forward from the bloodshed of the past. Mr Karzai won 55.4 per cent of the vote, while his nearest rival finished with just 16.3 per cent.
But security deteriorated significantly across much of Afghanistan in subsequent years and, having been written off as a spent force last time around, the Taliban are now engaged in an insurgency that has reached the outskirts of Kabul.
Anger towards the international community is greater than at any point since the 2001 invasion and, one way or the other, it seems certain to play an important part in what happens this summer.
Rumours persist that the election is a formality because Washington favours Mr Karzai and will fix the result. Reports that Mr Khalilzad will have some kind of role in any future administration have fuelled these suspicions.
"We heard that Mr Karzai went to America and had a meeting with [Barack Obama] who told him: 'If you want another man to have power under you we can send somebody.' Mr Karzai didn't accept the first time, but when he came back to Afghanistan he changed his mind. That's why Mr Khalilzad and Mr Jalali did not stand for election," Mr Hanifi surmised.
Of more concern for Afghans across the south and east, however, is the danger they will face just from opting to vote. The Taliban have denounced the elections and refused to take part, leading to fears that they will attempt to derail the process. Meanwhile, civilians are increasingly finding themselves caught up in fighting between insurgents and foreign troops.
Haji Ghazi Zadran, another elder from Paktia, had yet to decide whether he was going to support Mr Abdullah.
"There is no security," he said. "It is impossible to hold a free election."
csands@thenational.ae
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"
The Orwell Prize for Political Writing
Twelve books were longlisted for The Orwell Prize for Political Writing. The non-fiction works cover various themes from education, gender bias, and the environment to surveillance and political power. Some of the books that made it to the non-fiction longlist include:
- Appeasing Hitler: Chamberlain, Churchill and the Road to War by Tim Bouverie
- Some Kids I Taught and What They Taught Me by Kate Clanchy
- Invisible Women: Exposing Data Bias in a World Designed for Men by Caroline Criado Perez
- Follow Me, Akhi: The Online World of British Muslims by Hussein Kesvani
- Guest House for Young Widows: Among the Women of ISIS by Azadeh Moaveni
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 White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
Fixtures
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The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
The specs: Hyundai Ionic Hybrid
Price, base: Dh117,000 (estimate)
Engine: 1.6L four-cylinder, with 1.56kWh battery
Transmission: Six-speed automatic
Power: 105hp (engine), plus 43.5hp (battery)
Torque: 147Nm (engine), plus 170Nm (battery)
Fuel economy, combined: 3.4L / 100km
The%20specs
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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 banned).
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.
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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
COMPANY PROFILE
Name: Mamo Year it started: 2019 Founders: Imad Gharazeddine, Asim Janjua Based: Dubai, UAE Number of employees: 28 Sector: Financial services Investment: $9.5m Funding stage: Pre-Series A Investors: Global Ventures, GFC, 4DX Ventures, AlRajhi Partners, Olive Tree Capital, and prominent Silicon Valley investors. The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
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
Russia's Muslim Heartlands
Dominic Rubin, Oxford
Neymar's bio
Total club appearances 411
Total goals scored 241
Appearances for Barca 186
Goals scored for Barca 105
Know your Camel lingo
The bairaq is a competition for the best herd of 50 camels, named for the banner its winner takes home
Namoos - a word of congratulations reserved for falconry competitions, camel races and camel pageants. It best translates as 'the pride of victory' - and for competitors, it is priceless
Asayel camels - sleek, short-haired hound-like racers
Majahim - chocolate-brown camels that can grow to weigh two tonnes. They were only valued for milk until camel pageantry took off in the 1990s
Millions Street - the thoroughfare where camels are led and where white 4x4s throng throughout the festival
Company%20Profile
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Duterte Harry: Fire and Fury in the Philippines
Jonathan Miller, Scribe Publications
