A member of the Kurdish People's Protection Units (YPG) militia stands guard in fields outside the Kurdish town of Jandairis, near the Syrian-Turkish border, west of the city of Afrin, on January 26, 2018. AFP
A member of the Kurdish People's Protection Units (YPG) militia stands guard in fields outside the Kurdish town of Jandairis, near the Syrian-Turkish border, west of the city of Afrin, on January 26, Show more

Turkey says US needs to withdraw from Syria's Manbij area 'immediately'



The United States needs to withdraw from northern Syria's Manbij region immediately, Turkish foreign minister Mevlut Cavusoglu said on Saturday.

He also said Turkey wanted to see concrete steps by the US to end its support for the Syrian Kurdish militia that Ankara is fighting in northern Syria.

Earlier, Ankara said the US had reiterated a pledge to stop arming the People's Protection Units (YPG).

Saturday marked the eight day of a Turkish offensive against the YPG in the town of Afrin.

Turkish president Recep Tayyip Erdogan said on Friday that his country's forces would sweep Kurdish fighters from the Syrian border and could push all the way east to the frontier with Iraq, including Manbij. But such a move would risk confrontation with US forces based in Kurdish-held territory.

The Turkish presidency said on Saturday that US national security adviser HR McMaster "confirmed" to Mr Erdogan's spokesman, Ibrahim Kalin, in a phone call late on Friday that Washington would "not give weapons to the YPG".

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Read more:

US military retracts statement on 'border force' in Syria

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It came after Turkish officials said in November last year that US president Donald Trump had told them Washington would no longer supply weapons to the YPG.

Ankara launched its operation against the YPG, dubbed "Olive Branch", on Saturday last week, with Turkish ground troops and air strikes supported by Syrian Arab opposition fighters.

Health workers say they fear the offensive will lead to a humanitarian "tragedy" as medicines run short and the number of civilian casualties keeps rising.

"Medication and humanitarian aid necessary to help civilians will soon run out," said Khalil Sabri Ahmed, head of the main hospital in Afrin which had received dozens of civilian casualties in the past week.

Meanwhile, relations between Nato allies Ankara and Washington have been further strained by the offensive, with the US urging restraint and fearing an impact on the fight against ISIL.

One of the issues marring relations between the two countries was the US supplying the YPG — which has spearheaded the anti-extremist fight — with arms since last year in battles against ISIL.

During Friday's call, Mr McMaster and Mr Kalin cited Turkey's "legitimate security concerns" and agreed to co-ordinate closely in order to prevent misunderstandings, the presidency said.

Just days earlier, Washington and Ankara had bitterly contested each other's accounts of a telephone conversation between Mr Erdogan and Mr Trump.

A White House statement said Mr Trump had urged Turkey to "limit its military actions", but a Turkish official said this was not an accurate reflection of the leaders' call.

Ankara accuses the YPG of being a "terrorist" offshoot of the outlawed Kurdistan Workers' Party (PKK), which has waged a three-decade insurgency against the Turkish state.

But the Syrian Kurdish militia has been working closely with Washington against ISIL in Syria.

With the support of the US-led coalition's air power and special forces, the YPG-dominated Syrian Democratic Forces (SDF) alliance led the battle last year against ISIL during which the extremists lost their de facto capital of Raqqa.

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."

THURSDAY'S FIXTURES

4pm Maratha Arabians v Northern Warriors

6.15pm Deccan Gladiators v Pune Devils

8.30pm Delhi Bulls v Bangla Tigers

The specs

Engine: four-litre V6 and 3.5-litre V6 twin-turbo

Transmission: six-speed and 10-speed

Power: 271 and 409 horsepower

Torque: 385 and 650Nm

Price: from Dh229,900 to Dh355,000

Should late investors consider cryptocurrencies?

Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.

They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.

“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.

He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.

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Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

INFO

Visit www.wtatennis.com for more information

 

Ahmed Raza

UAE cricket captain

Age: 31

Born: Sharjah

Role: Left-arm spinner

One-day internationals: 31 matches, 35 wickets, average 31.4, economy rate 3.95

T20 internationals: 41 matches, 29 wickets, average 30.3, economy rate 6.28

The National Archives, Abu Dhabi

Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.

Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en

Director: Romany Saad
Starring: Mirfat Amin, Boumi Fouad and Tariq Al Ibyari

Qosty Byogaani

Starring: Hani Razmzi, Maya Nasir and Hassan Hosny

Four stars

THE LIGHT

Director: Tom Tykwer

Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger

Rating: 3/5

Dr Afridi's warning signs of digital addiction

Spending an excessive amount of time on the phone.

Neglecting personal, social, or academic responsibilities.

Losing interest in other activities or hobbies that were once enjoyed.

Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.

Experiencing sleep disturbances or changes in sleep patterns.

What are the guidelines?

Under 18 months: Avoid screen time altogether, except for video chatting with family.

Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.

Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.

Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.

Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.

Source: American Paediatric Association
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'Dark Waters'

Directed by: Todd Haynes

Starring: Mark Ruffalo, Anne Hathaway, William Jackson Harper 

Rating: ****

Austrian Grand Prix race timings

Weekend schedule for Austrian Grand Prix - all timings UAE

Friday

Noon-1.30pm First practice

4-5.30pm Second practice

Saturday

1-2pm Final practice

4pm Qualifying

Sunday

4pm Austrian Grand Prix (71 laps)

Results:

Men’s wheelchair 200m T34: 1. Walid Ktila (TUN) 27.14; 2. Mohammed Al Hammadi (UAE) 27.81; 3. Rheed McCracken (AUS) 27.81.

How Islam's view of posthumous transplant surgery changed

Transplants from the deceased have been carried out in hospitals across the globe for decades, but in some countries in the Middle East, including the UAE, the practise was banned until relatively recently.

Opinion has been divided as to whether organ donations from a deceased person is permissible in Islam.

The body is viewed as sacred, during and after death, thus prohibiting cremation and tattoos.

One school of thought viewed the removal of organs after death as equally impermissible.

That view has largely changed, and among scholars and indeed many in society, to be seen as permissible to save another life.

RESULT

Kolkata Knight Riders 169-7 (20 ovs)
Rajasthan Royals 144-4 (20 ovs)

Kolkata win by 25 runs

Next match

Sunrisers Hyderabad v Kolkata Knight Riders, Friday, 5.30pm