Madrid shows softer policy with Morocco



"Madrid and Rabat have been able to contain the recent tension that could have almost ruined their bilateral relations," stated Mohammed al Achab in a comment piece for the London-based newspaper Al Hayat. "King Juan Carlos' intervention to resolve the dispute over the bad treatment of Moroccan visitors by Spanish police on the border of Melilla has greatly helped in diffusing the situation."

The symbolic role played by the Spanish monarch tends to favour peaceful solutions, especially in the most critical moments of modern Spanish history. As part of his diplomatic efforts, King Carlos has recently invited his Moroccan counterpart Mohammed VI to an informal summit to discuss ways to handle the emerging crisis over the excessive use of power by police against Moroccan travellers. "Such incidents have become more frequent since the last visit of the Popular Party leader, Mariano Rajoy, to the two occupied cities of Melilla and Ceuta. The incidents came amid plans to cancel visa entries for Moroccans to alleviate the repercussions of the financial crash that has badly affected the Spanish economy." This is likely to tip the balance of power in favour of Morocco, which has demanded an end of the occupation of the two enclaves in return for special agreements that will ensure Spain's economic and commercial interests.

The Pakistani president Asif Ali Zardari's corruption is adding to the misery of this calamity-stricken country, commented Qasim Hussain in the Bahraini daily Al Wasat.

For more than 60 years, Pakistanis have been dreaming of a country that would be the model of a modern prosperous Islamic state. Such a dream has never come true because of successive political and military crises. Following David Cameron's accusation that Pakistan was exporting terrorism, the Pakistani president visited London to "calm things down". Yet he was received by an angry crowd of Pakistanis who criticised his travel outside Pakistan while massive floods are taking their toll on Pakistanis.

Mr Zardari faced numerous criminal charges of public funds embezzlement prior to his presidency. British newspapers reported that more than 300 million euros that was granted to Pakistan to help the victims of the 2003 earthquake ended up in the pockets of officials. Facts like these often cause other countries to think twice before giving financial aid to Pakistan. "Nawaz Sharif, the opposition leader, said that the main reason why Pakistanis are reluctant to donate anything is because they're not that sure the money will reach the right beneficiaries. It's also the reason why the Pakistani communities overseas don't raise many funds to help their country."

The US president Barak Obama made a controversial step in supporting the decision to build a mosque near Ground Zero in New York, commented Abdul Rahman al Rashed in the pan-Arab newspaper Asharq al Awsat. It is true that Mr Obama has made the right decision, which reflects his respect for religious freedom. It was, however, an unnecessary political position. Moreover, it was even less important to Muslims themselves.

"Muslim issues are in fact those of the fate of a nation, not of the building of a mosque." At the same time, it is unlikely that there are Muslims who are in dire need of a mosque in that area of Manhattan. It is located in a trade square that is occupied primarily by business outlets. Perhaps those most interested in the whole project will be the contractors and other engineering companies, or even investors looking to make some money out of the occasion. Whatever their intentions are, the mosque remains a very unwise idea that shouldn't be carried out. The last thing that Muslims want is to build an Islamic religious centre on the bodies of the thousands who died in an attack made in the name of Islam. It will inevitably be looked at as a celebration of the tragedy that happened, and that is definitely not what Muslims want.

Sudan's separation is being positively looked at by southerneres, commented Talat Ismail in the Emirati daily Al Bayan.

Amid heated debates about the expected separation, officials in the South are referring to it as independence rather than separation, with hope for the positive effects it can bring to Sudan as a whole.   "As separate states, the North and the South can establish good relations with each other," said the Sudanese prime minister Baqan Amoum. "The state of the South will be the coordinator between the Nile upstream and downstream countries."

As the referendum approaches, the atmosphere is sounding festive in the South at a time the northerners have kept a low profile because they have ceased to lure the southerners to stay united. This would only further increase chances of separation.  However, any eventual partition of the country might encourage other political forces to demand their stake of the land. In their pursuit, they will be backed by external powers, and a new geopolitical situation would emerge. Unfortunately, both Sudan and Egypt will be greatly affected as their water resources will be under risk.

* Digest compiled by Keltoum Ahfid @Email:translation@thenational.ae

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The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

The specs

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A State of Passion

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How to invest in gold

Investors can tap into the gold price by purchasing physical jewellery, coins and even gold bars, but these need to be stored safely and possibly insured.

A cheaper and more straightforward way to benefit from gold price growth is to buy an exchange-traded fund (ETF).

Most advisers suggest sticking to “physical” ETFs. These hold actual gold bullion, bars and coins in a vault on investors’ behalf. Others do not hold gold but use derivatives to track the price instead, adding an extra layer of risk. The two biggest physical gold ETFs are SPDR Gold Trust and iShares Gold Trust.

Another way to invest in gold’s success is to buy gold mining stocks, but Mr Gravier says this brings added risks and can be more volatile. “They have a serious downside potential should the price consolidate.”

Mr Kyprianou says gold and gold miners are two different asset classes. “One is a commodity and the other is a company stock, which means they behave differently.”

Mining companies are a business, susceptible to other market forces, such as worker availability, health and safety, strikes, debt levels, and so on. “These have nothing to do with gold at all. It means that some companies will survive, others won’t.”

By contrast, when gold is mined, it just sits in a vault. “It doesn’t even rust, which means it retains its value,” Mr Kyprianou says.

You may already have exposure to gold miners in your portfolio, say, through an international ETF or actively managed mutual fund.

You could spread this risk with an actively managed fund that invests in a spread of gold miners, with the best known being BlackRock Gold & General. It is up an incredible 55 per cent over the past year, and 240 per cent over five years. As always, past performance is no guide to the future.

'Tell the Machine Goodnight' by Katie Williams 
Penguin Randomhouse

Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia