KARGIL // Narendra Modi accused Pakistan on Tuesday of waging a proxy war in Kashmir as he became the first Indian prime minister to visit Kargil since more than 1,000 died in fighting there 15 years ago.
Mr Modi landed in the remote Himalayan town a day after India and its rival Pakistan traded accusations of ceasefire violations on their border in Kashmir.
He is the first Indian leader to visit the highly sensitive area since a 1999 Pakistan army incursion triggered a conflict between the two countries.
Since then, India has maintained a heavy military presence in Muslim-majority Kargil in the mountainous Kashmiri region of Ladakh.
But a reporter at the scene said there were few soldiers on the streets of Kargil on Tuesday.
“Today when I came I heard the cheerful claps of the people,” Mr Modi told the 5,000-strong crowd in the town, which was festooned with flags from his Hindu nationalist Bharatiya Janata Party.
“I had also come at a time when the place was echoing with the noises of bombs and bullets,” he said, recalling an earlier visit he made to Kargil before becoming prime minister.
Speaking earlier Tuesday to soldiers in Leh, capital of the Ladakh region, where he stopped en route, Mr Modi condemned what he called a “proxy war by Pakistan”.
He said troops were “suffering more casualties from terrorism than from war”.
New Delhi has long accused Islamabad of using Pakistan-based militant groups such as the outlawed Lashkar-i-Taiba against its forces in Kashmir — a claim that Islamabad denies.
Mr Modi, a hardline Hindu nationalist, also promised to build new roads and develop tourism in the restive Muslim-majority state, where poverty and underdevelopment have worsened anti-government sentiment.
“There was a time when prime ministers never visited the state. I have come here two times already,” said the prime minister, who was decked out in a traditional Ladakhi gold-coloured robe and hat for the occasion.
“We want to make jobs available for the youth. We want educational institutions for the youth... The government is committed to developing tourism in this region.”
Kashmir is divided between India and Pakistan, which both claim the region in full but administer separate partial areas. The neighbours have fought two of their three wars over its control.
Since 1989 a rebellion against Indian rule by about a dozen groups — seeking independence for Kashmir or a merger with Pakistan — has left tens of thousands dead.
Ajai Sahni, executive director at the Institute of Conflict Management think tank, said Mr Modi’s visit was an “important first step towards bringing these areas back to the centre of national and strategic consciousness”.
“This government’s initiative in the region will gradually shift the power equation in favour of India over Pakistan as people in the region become more integrated (with India) with development and progress,” he said.
Mr Modi had been reportedly planning to visit Kashmir’s Siachen glacier — dubbed the world’s highest battlefield due to the long-running territorial dispute — but officials said he would not now do so, without giving a reason.
An estimated 8,000 troops have died on the glacier since 1984, almost all of them from avalanches, landslides, frostbite, altitude sickness or heart failure rather than combat.
The nuclear-armed rivals fought over Siachen in 1987, though guns on the glacier have largely fallen silent since a peace process began in 2004.
Mr Modi’s visit comes a day after Pakistan summoned a senior Indian diplomat over a cross-border firing incident near the eastern city of Sialkot at the foot of the Kashmir hills, which the foreign ministry said killed at least one civilian.
Pakistani authorities accused India of a “ceasefire violation” and registered a formal protest.
Earlier, Indian police accused Pakistan of injuring four people during firing along their border in Kashmir.
New Delhi and Islamabad agreed a ceasefire in 2003 but firing along the disputed de facto border called the Line of Control, which separates Kashmir into Indian and Pakistani sectors, still occurs sporadically.
* Agence France-Presse
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
A State of Passion
Directors: Carol Mansour and Muna Khalidi
Stars: Dr Ghassan Abu-Sittah
Rating: 4/5
Brief scoreline:
Tottenham 1
Son 78'
Manchester City 0
Indian origin executives leading top technology firms
Sundar Pichai
Chief executive, Google and Alphabet
Satya Nadella
Chief executive, Microsoft
Ajaypal Singh Banga
President and chief executive, Mastercard
Shantanu Narayen
Chief executive, chairman, and president, Adobe
Indra Nooyi
Board of directors, Amazon and former chief executive, PepsiCo
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
MATCH INFO
Sheffield United 3
Fleck 19, Mousset 52, McBurnie 90
Manchester United 3
Williams 72, Greenwood 77, Rashford 79
Teams
Punjabi Legends Owners: Inzamam-ul-Haq and Intizar-ul-Haq; Key player: Misbah-ul-Haq
Pakhtoons Owners: Habib Khan and Tajuddin Khan; Key player: Shahid Afridi
Maratha Arabians Owners: Sohail Khan, Ali Tumbi, Parvez Khan; Key player: Virender Sehwag
Bangla Tigers Owners: Shirajuddin Alam, Yasin Choudhary, Neelesh Bhatnager, Anis and Rizwan Sajan; Key player: TBC
Colombo Lions Owners: Sri Lanka Cricket; Key player: TBC
Kerala Kings Owners: Hussain Adam Ali and Shafi Ul Mulk; Key player: Eoin Morgan
Venue Sharjah Cricket Stadium
Format 10 overs per side, matches last for 90 minutes
Timeline October 25: Around 120 players to be entered into a draft, to be held in Dubai; December 21: Matches start; December 24: Finals
Iran's dirty tricks to dodge sanctions
There’s increased scrutiny on the tricks being used to keep commodities flowing to and from blacklisted countries. Here’s a description of how some work.
1 Going Dark
A common method to transport Iranian oil with stealth is to turn off the Automatic Identification System, an electronic device that pinpoints a ship’s location. Known as going dark, a vessel flicks the switch before berthing and typically reappears days later, masking the location of its load or discharge port.
2. Ship-to-Ship Transfers
A first vessel will take its clandestine cargo away from the country in question before transferring it to a waiting ship, all of this happening out of sight. The vessels will then sail in different directions. For about a third of Iranian exports, more than one tanker typically handles a load before it’s delivered to its final destination, analysts say.
3. Fake Destinations
Signaling the wrong destination to load or unload is another technique. Ships that intend to take cargo from Iran may indicate their loading ports in sanction-free places like Iraq. Ships can keep changing their destinations and end up not berthing at any of them.
4. Rebranded Barrels
Iranian barrels can also be rebranded as oil from a nation free from sanctions such as Iraq. The countries share fields along their border and the crude has similar characteristics. Oil from these deposits can be trucked out to another port and documents forged to hide Iran as the origin.
* Bloomberg
Common OCD symptoms and how they manifest
Checking: the obsession or thoughts focus on some harm coming from things not being as they should, which usually centre around the theme of safety. For example, the obsession is “the building will burn down”, therefore the compulsion is checking that the oven is switched off.
Contamination: the obsession is focused on the presence of germs, dirt or harmful bacteria and how this will impact the person and/or their loved ones. For example, the obsession is “the floor is dirty; me and my family will get sick and die”, the compulsion is repetitive cleaning.
Orderliness: the obsession is a fear of sitting with uncomfortable feelings, or to prevent harm coming to oneself or others. Objectively there appears to be no logical link between the obsession and compulsion. For example,” I won’t feel right if the jars aren’t lined up” or “harm will come to my family if I don’t line up all the jars”, so the compulsion is therefore lining up the jars.
Intrusive thoughts: the intrusive thought is usually highly distressing and repetitive. Common examples may include thoughts of perpetrating violence towards others, harming others, or questions over one’s character or deeds, usually in conflict with the person’s true values. An example would be: “I think I might hurt my family”, which in turn leads to the compulsion of avoiding social gatherings.
Hoarding: the intrusive thought is the overvaluing of objects or possessions, while the compulsion is stashing or hoarding these items and refusing to let them go. For example, “this newspaper may come in useful one day”, therefore, the compulsion is hoarding newspapers instead of discarding them the next day.
Source: Dr Robert Chandler, clinical psychologist at Lighthouse Arabia
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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.”
Infobox
Western Region Asia Cup Qualifier, Al Amerat, Oman
The two finalists advance to the next stage of qualifying, in Malaysia in August
Results
UAE beat Iran by 10 wickets
Kuwait beat Saudi Arabia by eight wickets
Oman beat Bahrain by nine wickets
Qatar beat Maldives by 106 runs
Monday fixtures
UAE v Kuwait, Iran v Saudi Arabia, Oman v Qatar, Maldives v Bahrain
