Libya is moving closer to ejecting foreign mercenaries and military groups from its soil, the country's foreign minister said on Wednesday.
Progress towards ending outside interference in Libya was made at a gathering of Libyan representatives and international powers in Berlin, the second conference on the conflict to take place in the German capital.
"We have progress in terms of mercenaries," Najla Mangoush told reporters at the close of the UN and German-led conference.
"Hopefully within the coming days, mercenaries from both sides are going to be withdrawing, and I think this is going to be encouraging.
"We've built the trust measurement from both sides and then other steps will follow," she added.
German Foreign Minister Heiko Maas said that although progress had been made, the withdrawals would likely proceed gradually.
"I believe that between the Turkish and the Russian sides, there was also an understanding that if you stop, this will not mean that everybody will take their mercenaries back overnight," he said.
Mr Maas said Germany "will not falter" in its pursuit of ridding Libya of foreign mercenaries but warned that a military imbalance could be created if one side withdrew its mercenaries faster than the other.
Earlier in the day, Libyan Prime Minister Abdul Hamid Dbeibeh called on the international community to take Libya seriously and to respect its sovereignty.
He also promised to stop at nothing to ensure national elections, set for December 24, go ahead.
We must put an end to all foreign interference, including the full withdrawal of all foreign forces and mercenaries from Libya
"I will not shy away from any efforts to make sure we overcome any obstacles in the way of sticking to the national elections and to make it possible for the people of Libya to elect officials," he told representatives from the US, UAE, UK and other countries.
The unity government took office in March with the backing of the UN and Western powers.
It replaced two warring governments that had ruled different parts of Libya, which had been in turmoil since the fall of Muammar Qaddafi in 2011.
UN Secretary-General Antonio Guterres called for free participation in the elections, which many see as key to securing a lasting peace in the country, as well as in a community-led reconciliation programme.
“We must put an end to all foreign interference, including the full withdrawal of all foreign forces and mercenaries from Libya," he said.
"I urge Libyan and and external parties to agree on a comprehensive plan with clear timelines to achieve this goal, which UNSMIL stands ready to support.”
Some $189m had been requested to meet humanitarian needs in Libya, he said, adding that the first group of UN peacekeeping monitors would be deployed to the North African country "soon".
Khalifa Shaheen Al Marar, UAE Minister of State and head of the UAE's delegation to the talks called on Libyan and international parties to "commit themselves to the political process and provide all factors to its success in order to realise security, stability and unity of Libyan institutions to fulfil the aspirations of the Libyan people for a more prosperous future,"
US Secretary of State Antony Blinken said Libya had its best opportunity in years to move forward as a safe and sovereign country.
“We share the goal of a sovereign, stable, unified, secure Libya, free from foreign interference,” he said. “It’s what the people of Libya deserve, it’s critical to regional security as well."
But Mr Dbeibeh raised a number of concerns over Libya's progress towards becoming a peaceful, democratic state.
The prime minister said Libya's legislature had not made "serious efforts" to create electoral laws and a functioning constitution.
One of the issues at hand is exactly what Libyans will vote for, particularly if the president should be directly elected.
Libya's High National Election Commission (HNEC) has said a decision on the constitution should be made by July 1 to prevent a delay to the December 24 election.
Mr Dbeibah told the conference that the continued presence of mercenaries and foreign military personnel in the country could jeopardise the political process.
“There are security concerns over the political process based on the direct and armed control of mercenaries in some areas, the presence of military forces with political dimensions… and the presence of some terrorists,” he said.
The meeting at the foreign ministry in Berlin followed a conference in January 2020 at which leaders agreed to respect a UN arms embargo and to push Libya's warring parties to agree to a full ceasefire.
For the further stabilisation of the country, it is crucial that elections take place as planned and that foreign fighters and mercenaries really do leave Libya
Germany is acting as an intermediary.
Countriesinvolved in the process include the five permanent members of the UN Security Council, along with the UAE, Italy and Turkey.
Before the conference, German Foreign Minister Heiko Maas said that much has been achieved in the past two years.
An October ceasefire agreement included a demand that all foreign fighters and mercenaries leave Libya within 90 days and a transitional government took office in February.
But “many challenges still lie ahead of us”, said Mr Maas.
“For the further stabilisation of the country, it is crucial that elections take place as planned and that foreign fighters and mercenaries really do leave Libya.”
He said that Wednesday’s conference launches a new phase “in which we no longer only talk about Libya, but in which we are now speaking with Libyan men and women about the future of their country”.
Ms Mangoush, the Libyan foreign minister, said: "It’s time for actions because my people have heard enough."
The specs
Engine: 2.0-litre 4-cylinder turbo
Power: 258hp from 5,000-6,500rpm
Torque: 400Nm from 1,550-4,000rpm
Transmission: Eight-speed auto
Fuel consumption: 6.1L/100km
Price: from Dh362,500
On sale: now
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
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.”
Company%20profile
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MEYDAN%20RACECARD
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Know before you go
- Jebel Akhdar is a two-hour drive from Muscat airport or a six-hour drive from Dubai. It’s impossible to visit by car unless you have a 4x4. Phone ahead to the hotel to arrange a transfer.
- If you’re driving, make sure your insurance covers Oman.
- By air: Budget airlines Air Arabia, Flydubai and SalamAir offer direct routes to Muscat from the UAE.
- Tourists from the Emirates (UAE nationals not included) must apply for an Omani visa online before arrival at evisa.rop.gov.om. The process typically takes several days.
- Flash floods are probable due to the terrain and a lack of drainage. Always check the weather before venturing into any canyons or other remote areas and identify a plan of escape that includes high ground, shelter and parking where your car won’t be overtaken by sudden downpours.
FIXTURES
Saturday
5.30pm: Shabab Al Ahli v Al Wahda
5.30pm: Khorfakkan v Baniyas
8.15pm: Hatta v Ajman
8.15pm: Sharjah v Al Ain
Sunday
5.30pm: Kalba v Al Jazira
5.30pm: Fujairah v Al Dhafra
8.15pm: Al Nasr v Al Wasl
More on Quran memorisation:
BABYLON
%3Cp%3EDirector%3A%20Damien%20Chazelle%3C%2Fp%3E%0A%3Cp%3EStars%3A%20Brad%20Pitt%2C%20Margot%20Robbie%2C%20Jean%20Smart%3C%2Fp%3E%0A%3Cp%3ERating%3A%204%2F5%3C%2Fp%3E%0A
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Roll of honour
Who has won what so far in the West Asia Premiership season?
Western Clubs Champions League - Winners: Abu Dhabi Harlequins; Runners up: Bahrain
Dubai Rugby Sevens - Winners: Dubai Exiles; Runners up: Jebel Ali Dragons
West Asia Premiership - Winners: Jebel Ali Dragons; Runners up: Abu Dhabi Harlequins
UAE Premiership Cup - Winners: Abu Dhabi Harlequins; Runners up: Dubai Exiles
West Asia Cup - Winners: Bahrain; Runners up: Dubai Exiles
West Asia Trophy - Winners: Dubai Hurricanes; Runners up: DSC Eagles
Final West Asia Premiership standings - 1. Jebel Ali Dragons; 2. Abu Dhabi Harlequins; 3. Bahrain; 4. Dubai Exiles; 5. Dubai Hurricanes; 6. DSC Eagles; 7. Abu Dhabi Saracens
Fixture (UAE Premiership final) - Friday, April 13, Al Ain – Dubai Exiles v Abu Dhabi Harlequins
Guns N’ Roses’s last gig before Abu Dhabi was in Hong Kong on November 21. We were there – and here’s what they played, and in what order. You were warned.
- It’s So Easy
- Mr Brownstone
- Chinese Democracy
- Welcome to the Jungle
- Double Talkin’ Jive
- Better
- Estranged
- Live and Let Die (Wings cover)
- Slither (Velvet Revolver cover)
- Rocket Queen
- You Could Be Mine
- Shadow of Your Love
- Attitude (Misfits cover)
- Civil War
- Coma
- Love Theme from The Godfather (movie cover)
- Sweet Child O’ Mine
- Wichita Lineman (Jimmy Webb cover)
- Wish You Were Here (instrumental Pink Floyd cover)
- November Rain
- Black Hole Sun (Soundgarden cover)
- Knockin’ on Heaven’s Door (Bob Dylan cover)
- Nightrain
Encore:
- Patience
- Don’t Cry
- The Seeker (The Who cover)
- Paradise City
Armies of Sand
By Kenneth Pollack (Oxford University Press)
RedCrow Intelligence Company Profile
Started: 2016
Founders: Hussein Nasser Eddin, Laila Akel, Tayeb Akel
Based: Ramallah, Palestine
Sector: Technology, Security
# of staff: 13
Investment: $745,000
Investors: Palestine’s Ibtikar Fund, Abu Dhabi’s Gothams and angel investors
Juliet, Naked
Dir: Jesse Peretz
Starring: Chris O'Dowd, Rose Byrne, Ethan Hawke
Two stars
