Helicopter rescue from UAE mission in Yemen



SANA'A // Six senior ambassadors and the secretary-general of the Gulf Co-operation Council were rescued by helicopter from the UAE Embassy in Sana'a yesterday after it was besieged by armed supporters of the Yemeni president Ali Abdullah Saleh.

Men armed with machineguns, pistols and knives surrounded the embassy as a 4pm deadline passed for Mr Saleh to sign a GCC-brokered peace deal.

The GCC secretary-general Abdullatif bin Rashid al Zayani was inside with leading envoys including the ambassadors of Britain, the European Union and the United States.

The UAE Minister of Foreign Affairs, Sheikh Abdullah bin Zayed, called his Yemeni counterpart Abu Bakr al Kurbi urging him to "take swift measures to secure" the embassy and those inside.

Yemeni government helicopters arrived shortly afterwards and airlifted the diplomats to the presidential palace. No one was injured.

The drama took place as Mr Saleh once again refused to sign the peace agreement, and set new conditions for the handover of power. The president, who has been in office since 1978, insisted that opposition leaders who have already signed the deal do so again in the presidential palace.

Mr al Zayani returned to Riyadh last night for a crisis meeting of GCC foreign ministers amid expectations that the organisation's mediation will be withdrawn.

"This is not the Yemeni way of hospitality. It's a shame that President Saleh forced his followers to surround guests and diplomats," said Ahmed Bahri, a senior official with the opposition Joint Meeting Parties (JMP).

"He is putting their lives in danger by having gunmen surround them. We did everything we were told to do by Zayani. We agreed to the proposal not because we are weak but to avoid bloodshed in Yemen." Mr Bahri said he expected the GCC to come out with a strong statement to condemn Mr Saleh's actions.

A ruling party statement said Mr Saleh objected to signing the deal "behind closed doors" and wanted a public event attended by the opposition, which signed the deal on Saturday in the presence of Mr Zayani.

"Zayani thanked us for signing the proposal and putting Yemen's interests above our own," said Hasan Zaid, a JMP official.

The deal calls for Mr Saleh to step down within 30 days after signing the proposal and transfer power to his vice president. It also would give him and his inner circle immunity from prosecution.

"I will sign only if the opposition comes to sign in the palace," Mr Saleh said in a televised address yesterday.

He has backed away from signing the deal at least twice before.

"It was very difficult for us to accept signing the GCC proposal and now Saleh wants us to sign again. We will never sign it at the palace," said Hasan Zaid, the general secretary of the Haq party and one of the five opposition leaders who have signed the GCC proposal.

Saleh Shareef, an armed tribesman who was among the protesters at the embassy, said: "These ambassadors are trying to force Saleh to step down while he is Yemen's legal president. We will risk our lives for Saleh."

Abdullah Abdul Kareem, who lives near the UAE Embassy, said he told his children to move away from the windows of the house when he saw dozens of men with guns.

"I was scared to even look out of the window. They were armed and we were scared that the supporters might attack the embassy and the houses near by," he said.

Earlier Mr Zayani's vehicle was attacked by armed pro-Saleh supporters. The motorcade had rocks thrown at it while driving away.

Mr Zayani said the GCC wanted the best for Yemen and should not be treated in this way by the Yemeni people. The Chinese ambassador's convoy also came under attack by armed men, and dozens of pro-Saleh loyalists gathered in front of the police academy, where the ruling party general assembly had convened to discuss the deal.

"We are coming under pressure, to reject the initiative," said Mohammed Saad, a general assembly member.

The Organising Committee for the Yemeni Revolution announced that it will escalate protests this week to ensure the GCC proposal fails.

According to the committee, by next month Mr Saleh's forces will control only the area near the presidential palace because they will close down main roads and expand their protests.

More than 170 have been killed by pro-Saleh troops since protests began in January.

"We march peacefully with roses and flowers in our hands, and Saleh forces meet us with weapons and bullets. How can we forgive him?" said Sameer Wael, a youth protester.

"The blood of martyrs will not go in vain."

* With additional reporting by Agence France-Presse and Associated Press

The design

The protective shell is covered in solar panels to make use of light and produce energy. This will drastically reduce energy loss.

More than 80 per cent of the energy consumed by the French pavilion will be produced by the sun.

The architecture will control light sources to provide a highly insulated and airtight building.

The forecourt is protected from the sun and the plants will refresh the inner spaces.

A micro water treatment plant will recycle used water to supply the irrigation for the plants and to flush the toilets. This will reduce the pavilion’s need for fresh water by 30 per cent.

Energy-saving equipment will be used for all lighting and projections.

Beyond its use for the expo, the pavilion will be easy to dismantle and reuse the material.

Some elements of the metal frame can be prefabricated in a factory.

 From architects to sound technicians and construction companies, a group of experts from 10 companies have created the pavilion.

Work will begin in May; the first stone will be laid in Dubai in the second quarter of 2019. 

Construction of the pavilion will take 17 months from May 2019 to September 2020.

Four reasons global stock markets are falling right now

There are many factors worrying investors right now and triggering a rush out of stock markets. Here are four of the biggest:

1. Rising US interest rates

The US Federal Reserve has increased interest rates three times this year in a bid to prevent its buoyant economy from overheating. They now stand at between 2 and 2.25 per cent and markets are pencilling in three more rises next year.

Kim Catechis, manager of the Legg Mason Martin Currie Global Emerging Markets Fund, says US inflation is rising and the Fed will continue to raise rates in 2019. “With inflationary pressures growing, an increasing number of corporates are guiding profitability expectations downwards for 2018 and 2019, citing the negative impact of rising costs.”

At the same time as rates are rising, central bankers in the US and Europe have been ending quantitative easing, bringing the era of cheap money to an end.

2. Stronger dollar

High US rates have driven up the value of the dollar and bond yields, and this is putting pressure on emerging market countries that took advantage of low interest rates to run up trillions in dollar-denominated debt. They have also suffered capital outflows as international investors have switched to the US, driving markets lower. Omar Negyal, portfolio manager of the JP Morgan Global Emerging Markets Income Trust, says this looks like a buying opportunity. “Despite short-term volatility we remain positive about long-term prospects and profitability for emerging markets.” 

3. Global trade war

Ritu Vohora, investment director at fund manager M&G, says markets fear that US President Donald Trump’s spat with China will escalate into a full-blown global trade war, with both sides suffering. “The US economy is robust enough to absorb higher input costs now, but this may not be the case as tariffs escalate. However, with a host of factors hitting investor sentiment, this is becoming a stock picker’s market.”

4. Eurozone uncertainty

Europe faces two challenges right now in the shape of Brexit and the new populist government in eurozone member Italy.

Chris Beauchamp, chief market analyst at IG, which has offices in Dubai, says the stand-off between between Rome and Brussels threatens to become much more serious. "As with Brexit, neither side appears willing to step back from the edge, threatening more trouble down the line.”

The European economy may also be slowing, Mr Beauchamp warns. “A four-year low in eurozone manufacturing confidence highlights the fact that producers see a bumpy road ahead, with US-EU trade talks remaining a major question-mark for exporters.”

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