CAIRO // Arab nations closed ranks against Syria yesterday with a nearly unanimous vote in the Arab League to suspend the country from the organisation and consider sanctions.
Members will impose economic and political sanctions on President Bashar Al Assad's regime if it fails to satisfy the league that it is complying with an Arab-brokered plan to end violent repression of protests, Sheikh Hamad bin Jassim, Qatar's prime minister, said after the emergency session in Cairo.
The resolution also recommends that all Arab states withdraw their ambassadors from Damascus and pledged that the league would hold talks with Syrian opposition groups about the transition to democracy. Syria's suspension from the 22-member league is to begin on Wednesday.
"We were criticised for taking a long time, but this was out of our concern for Syria," Sheikh Hamad said. "We needed to have a majority to approve those decisions. Syria is a dear country for all of us and it pains us to make this decision. We hope there will be a brave move from Syria to stop the violence and begin a real dialogue towards real reform."
Recognising concerns that the decision could pave the way for international intervention, as occurred in Libya, Sheikh Hamad stressed that "no one is talking about a no-fly zone, people are trying to mix up the cases. None of us is talking about this kind of decision".
Eighteen members voted in favour of the resolution. Iraq abstained, and Lebanon, Yemen and Syria itself voted against.
The vote shows new unity among the group's membership after Syria continued its military crackdown in defiance of the peace deal signed on November 2. As many as 250 people had been killed since the plan was adopted, according to the Local Coordination Committees, an anti-regime group that monitors the protests.
The vote was harsher than Damascus expected, with even opposition figures surprised by the league's direct call to the Syrian army - over Mr Al Assad's head - for soldiers not to kill civilians.
"That is very significant and it puts real pressure on the regime," said one dissident. "So does the promise to hold talks with the opposition to discuss the transition to democracy independently of Assad."
Damascus appeared to have been confident it would be supported by Sudan, Oman, Algeria, Iraq, Yemen and Lebanon, with other smaller Arab states expected to abstain.
Syrian officials accused the Arab League of following a "dangerous" plan concocted in Washington. Yousef Ahmad, Syria's ambassador to the league, said the resolution was "illegal", violating Arab League regulations. Syria's state run media cited Mr Ahmad as saying the decision marked the death of Arab common action and showed the Arab League to be "subordinate to US-Western agendas".
"This is a big step by the Arab League," said an independent analyst in Damascus. "Syria now has two choices. If wisdom prevails, it will implement the plan, pull out the tanks now and release thousands of prisoners in the next couple of days.
"Alternatively, it can start a war of words against the Arab League and continue the crackdown. That will mean it has decided to walk the same path as Muammar Qaddafi and Saddam Hussein."
Regime supporters angrily condemned the decision and the league. One, speaking on condition of anonymity, said the organisation was "irrelevant, it does not exist".
With Russia and China both having thrown their support behind the Arab League peace plan, Syria will want to convince them it is implementing the deal. That will be made much more difficult if the league does formally suspend Damascus on Wednesday.
Then, the way will be open for the Syrian crisis to be referred to the United Nations Security Council, and Moscow and Beijing, which have vetoed critical UN resolutions, may decide they can no longer give Damascus diplomatic cover.
"I'm sure Russia and China will now be telling Syria, 'You must implement the deal, this is your last chance'," the analyst in Damascus said. "They have until Wednesday to do that."
The aggressive moves by the league will provide momentum to the pro-democracy protesters opposing the Al Assad regime but were unlikely to produce any quick results, analysts said.
"We're not going to see the imminent collapse of the regime," said Salman Shaikh, director of the Brookings Doha Centre in Qatar. "But it does increase the chance of a multilateral action against the regime in the next month or two. The Arab cover has been lifted."
Sheikh Hamad bin Jassim suggested the league would seek assistance from the United Nations if the violence continues, echoing a move that was made against Qaddafi in March after Libya had its membership suspended .
The Arab League's decision marked a departure from the group's record of making conservative decisions about regional politics, analysts said yesterday.
"This is a new Arab League," said Gamal Soltan, a professor of political science at the American University in Cairo. "Typically it has applied the politics of the lowest common denominator between the Arab countries, but apparently things are changing."
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MATCH INFO
Manchester City 3 (Sterling 46', De Bruyne 65', Gundogan 70')
Aston Villa 0
Red card: Fernandinho (Manchester City)
Man of the Match: Raheem Sterling (Manchester City)
MATCH INFO
Uefa Champions League, last-16. first leg
Atletico Madrid v Juventus, midnight (Thursday), BeIN Sports
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
Last 10 winners of African Footballer of the Year
2006: Didier Drogba (Chelsea and Ivory Coast)
2007: Frederic Kanoute (Sevilla and Mali)
2008: Emmanuel Adebayor (Arsenal and Togo)
2009: Didier Drogba (Chelsea and Ivory Coast)
2010: Samuel Eto’o (Inter Milan and Cameroon)
2011: Yaya Toure (Manchester City and Ivory Coast)
2012: Yaya Toure (Manchester City and Ivory Coast)
2013: Yaya Toure (Manchester City and Ivory Coast)
2014: Yaya Toure (Manchester City and Ivory Coast)
2015: Pierre-Emerick Aubameyang (Borussia Dortmund and Gabon)
2016: Riyad Mahrez (Leicester City and Algeria)
Scores
Bournemouth 0-4 Liverpool
Arsenal 1-0 Huddersfield Town
Burnley 1-0 Brighton
Manchester United 4-1 Fulham
West Ham 3-2 Crystal Palace
Saturday fixtures:
Chelsea v Manchester City, 9.30pm (UAE)
Leicester City v Tottenham Hotspur, 11.45pm (UAE)
Brief scores:
Manchester City 3
Bernardo Silva 16', Sterling 57', Gundogan 79'
Bournemouth 1
Wilson 44'
Man of the match: Leroy Sane (Manchester City)
FFP EXPLAINED
What is Financial Fair Play?
Introduced in 2011 by Uefa, European football’s governing body, it demands that clubs live within their means. Chiefly, spend within their income and not make substantial losses.
What the rules dictate?
The second phase of its implementation limits losses to €30 million (Dh136m) over three seasons. Extra expenditure is permitted for investment in sustainable areas (youth academies, stadium development, etc). Money provided by owners is not viewed as income. Revenue from “related parties” to those owners is assessed by Uefa's “financial control body” to be sure it is a fair value, or in line with market prices.
What are the penalties?
There are a number of punishments, including fines, a loss of prize money or having to reduce squad size for European competition – as happened to PSG in 2014. There is even the threat of a competition ban, which could in theory lead to PSG’s suspension from the Uefa Champions League.
Not Dark Yet
Shelby Lynne and Allison Moorer
Four stars
MATCH INFO
Wales 1 (Bale 45 3')
Croatia 1 (Vlasic 09')
Day 3 stumps
New Zealand 153 & 249
Pakistan 227 & 37-0 (target 176)
Pakistan require another 139 runs with 10 wickets remaining
Match info:
Manchester City 2
Sterling (8'), Walker (52')
Newcastle United 1
Yedlin (30')
The Light of the Moon
Director: Jessica M Thompson
Starring: Stephanie Beatriz, Michael Stahl-David
Three stars
Company%20Profile
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TV: World Cup Qualifier 2018 matches will be aired on on OSN Sports HD Cricket channel
Women’s T20 World Cup Asia Qualifier
ICC Academy, November 22-28
UAE fixtures
Nov 22, v Malaysia
Nov 23, v Hong Kong
Nov 25, v Bhutan
Nov 26, v Kuwait
Nov 28, v Nepal
ICC T20I rankings
14. Nepal
17. UAE
25. Hong Kong
34. Kuwait
35. Malaysia
44. Bhutan
UAE squad
Chaya Mughal (captain), Natasha Cherriath, Samaira Dharnidharka, Kavisha Egodage, Mahika Gaur, Priyanjali Jain, Suraksha Kotte, Vaishnave Mahesh, Judit Peter, Esha Rohit, Theertha Satish, Chamani Seneviratne, Khushi Sharma, Subha Venkataraman
ITU Abu Dhabi World Triathlon
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What should do investors do now?
What does the S&P 500's new all-time high mean for the average investor?
Should I be euphoric?
No. It's fine to be pleased about hearty returns on your investments. But it's not a good idea to tie your emotions closely to the ups and downs of the stock market. You'll get tired fast. This market moment comes on the heels of last year's nosedive. And it's not the first or last time the stock market will make a dramatic move.
So what happened?
It's more about what happened last year. Many of the concerns that triggered that plunge towards the end of last have largely been quelled. The US and China are slowly moving toward a trade agreement. The Federal Reserve has indicated it likely will not raise rates at all in 2019 after seven recent increases. And those changes, along with some strong earnings reports and broader healthy economic indicators, have fueled some optimism in stock markets.
"The panic in the fourth quarter was based mostly on fears," says Brent Schutte, chief investment strategist for Northwestern Mutual Wealth Management Company. "The fundamentals have mostly held up, while the fears have gone away and the fears were based mostly on emotion."
Should I buy? Should I sell?
Maybe. It depends on what your long-term investment plan is. The best advice is usually the same no matter the day — determine your financial goals, make a plan to reach them and stick to it.
"I would encourage (investors) not to overreact to highs, just as I would encourage them not to overreact to the lows of December," Mr Schutte says.
All the same, there are some situations in which you should consider taking action. If you think you can't live through another low like last year, the time to get out is now. If the balance of assets in your portfolio is out of whack thanks to the rise of the stock market, make adjustments. And if you need your money in the next five to 10 years, it shouldn't be in stocks anyhow. But for most people, it's also a good time to just leave things be.
Resist the urge to abandon the diversification of your portfolio, Mr Schutte cautions. It may be tempting to shed other investments that aren't performing as well, such as some international stocks, but diversification is designed to help steady your performance over time.
Will the rally last?
No one knows for sure. But David Bailin, chief investment officer at Citi Private Bank, expects the US market could move up 5 per cent to 7 per cent more over the next nine to 12 months, provided the Fed doesn't raise rates and earnings growth exceeds current expectations. We are in a late cycle market, a period when US equities have historically done very well, but volatility also rises, he says.
"This phase can last six months to several years, but it's important clients remain invested and not try to prematurely position for a contraction of the market," Mr Bailin says. "Doing so would risk missing out on important portfolio returns."
SCORES
Yorkshire Vikings 144-1 in 12.5 overs
(Tom Kohler 72 not out, Harry Broook 42 not out)
bt Hobart Hurricanes 140-7 in 20 overs
(Caleb Jewell 38, Sean Willis 35, Karl Carver 2-29, Josh Shaw 2-39)
MATCH INFO
Uefa Champions League semi-final:
First leg: Liverpool 5 Roma 2
Second leg: Wednesday, May 2, Stadio Olimpico, Rome
TV: BeIN Sports, 10.45pm (UAE)
Other key dates
-
Finals draw: December 2
-
Finals (including semi-finals and third-placed game): June 5–9, 2019
-
Euro 2020 play-off draw: November 22, 2019
-
Euro 2020 play-offs: March 26–31, 2020
MATCH INFO
Karnataka Tuskers 110-5 (10 ovs)
Tharanga 48, Shafiq 34, Rampaul 2-16
Delhi Bulls 91-8 (10 ovs)
Mathews 31, Rimmington 3-28
Karnataka Tuskers win by 19 runs