Iranian President Hassan Rouhani (right) greets Oman’s Sultan Qaboos bin Said Al Said at the presidential palace in Tehran on Sunday.
Iranian President Hassan Rouhani (right) greets Oman’s Sultan Qaboos bin Said Al Said at the presidential palace in Tehran on Sunday.

Oman's Sultan Qaboos visits Iran for mediation



TEHRAN // Iran welcomed Oman's Sultan Qaboos bin Said Al Said yesterday in a visit that raised hopes that Omani mediation could help ease tensions between Iran and western powers over Tehran's nuclear ambitions.

Sultan Qaboos was scheduled to focus on bilateral and international affairs during his three-day visit. In the past, Oman has played a mediating role in helping to help release Iranian and American nationals from both countries' prisons. In the run-up to the current visit, Iranian newspapers raised speculation that Oman could repeat such mediation in the continuing dispute over Iran's nuclear programme.

But Mohammad Javad Zarif, the Iranian foreign minister, denied any knowledge of such an agenda for the visit.

"We are not aware if the sultan of Oman is conveying a message," Mr Zarif said. "We are ready to discuss various issues he might be interested in raising."

The pro-reform Iranian daily newspaper Bahar reported the sultan might discuss easing financial sanctions imposed by the United States and Europe on Iran in return for the country decreasing uranium enrichment activity. Iran has had no access to foreign revenue since of an oil-and-banking embargo was imposed on the country because of its nuclear programme.

Western governments suspect Iran's nuclear activities have military dimensions, while Iran has said it is pursuing only peaceful aims such as power generation and cancer treatment.

In May, John Kerry, the US secretary of state, visited Oman and other countries in the Arabian Gulf region to push for the creation of an integrated defence network against the alleged threat posed by Iran.

Oman has had good relations with Europe and the US while enjoying historic ties with Iran. It is one of the few Gulf countries that maintains friendly ties with the Islamic republic. The visit marked the first by a foreign leader to Iran since the centrist Iranian president, Hassan Rouhani, took office about three weeks ago.

Mehran Kamrava, the director of the Centre for International and Regional Studies at Georgetown University in Qatar, said Sultan Qaboos's visit indicated Iran was coming out of the "isolationist mode" it had adopted under Mr Rouhani's predecessor, Mahmoud Ahmadinejad, who was known for bellicose rhetoric on the international stage.

"Oman is one of the few Arab countries with which Iran has had consistent and regular good relations," Mr Kamrava said. "Whether the Sultan of Oman is bearing a message or not is something we won't know until somewhat later, but certainly countries such as Oman could play a very important intermediary role between Iran and the US."

During a greeting ceremony, Mr Rouhani urged both sides to apply efforts to "deepen and boost bilateral cooperation more than before".

The Omani sultan responded that his country is ready to help create trade routes through Iran between Oman and Central Asian countries such as Turkmenistan and Uzbekistan. Annual Iran-Oman trade stands at Dh917.5 million.

Both countries also are partners in controlling the Strait of Hormuz, through which one-fifth of the international oil supply passes.

Sultan Qaboos last visited Iran in 2009, three decades after his only other trip in the mid-1970s, when Iranian forces helped him dismantle Soviet-backed Marxist guerrillas who sought independence in the southern Omani province of Dhofar.

* With additional reporting by Reuters

Quick pearls of wisdom

Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”

Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.” 

WHAT IS A BLACK HOLE?

1. Black holes are objects whose gravity is so strong not even light can escape their pull

2. They can be created when massive stars collapse under their own weight

3. Large black holes can also be formed when smaller ones collide and merge

4. The biggest black holes lurk at the centre of many galaxies, including our own

5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed

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Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

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.”

The five stages of early child’s play

From Dubai-based clinical psychologist Daniella Salazar:

1. Solitary Play: This is where Infants and toddlers start to play on their own without seeming to notice the people around them. This is the beginning of play.

2. Onlooker play: This occurs where the toddler enjoys watching other people play. There doesn’t necessarily need to be any effort to begin play. They are learning how to imitate behaviours from others. This type of play may also appear in children who are more shy and introverted.

3. Parallel Play: This generally starts when children begin playing side-by-side without any interaction. Even though they aren’t physically interacting they are paying attention to each other. This is the beginning of the desire to be with other children.

4. Associative Play: At around age four or five, children become more interested in each other than in toys and begin to interact more. In this stage children start asking questions and talking about the different activities they are engaging in. They realise they have similar goals in play such as building a tower or playing with cars.

5. Social Play: In this stage children are starting to socialise more. They begin to share ideas and follow certain rules in a game. They slowly learn the definition of teamwork. They get to engage in basic social skills and interests begin to lead social interactions.

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A timeline of the Historical Dictionary of the Arabic Language
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