US President Joe Biden told his Afghan counterpart Ashraf Ghani on Friday that America remains committed to Afghanistan.
This reassurance comes as the US military moves to complete a withdrawal from the country after 20 years of conflict.
In their first meeting since he became president in January, Mr Biden pledged that support to Kabul “would be sustained”, but that “Afghans are going to have to decide their future, what they want".
“The senseless violence has to stop,” Mr Biden said.
Accompanying Mr Ghani to the White House was Abdullah Abdullah, Afghanistan’s former chief executive of a unity government and a long-time political rival of the Afghan president.
He now oversees the peace process for Kabul, in which government negotiators are supposed to be speaking with the Taliban in Doha.
But these talks have largely stalled as violence has flared across Afghanistan.
Mr Ghani expressed gratitude to the US, saying Afghanistan respects Mr Biden’s decision to withdraw.
“We are determined to have unity, coherence,” Mr Ghani said.
In a press conference following the meeting, Mr Ghani called Mr Biden's decision to withdraw transformational.
“It’s not abandonment, it’s a new chapter," he said.
Asked if he was able to convince the US to slow down the pace of the withdrawal, the Afghan president said he was not.
"This is a sovereign US decision. We respect that decision. Our course is to manage the consequences and to ensure that the people of Afghanistan rise to the challenge,” he said.
But Mr Ghani added that he was satisfied with the security commitments he had received from the US on the visit and that he expected rapid progress.
He described the outstanding security issues facing Afghanistan as logistical, related to supporting the air force and doing maintenance.
The Afghan president also called on the Taliban and their backers to abandon violence, arguing that it is not the way to compel Afghans into a settlement.
And if they do not heed that call, Mr Ghani said the Afghan forces stand “fully prepared".
The Afghan leader, who won re-election in 2019 after a poll that was marred by multiple fraud allegations, is hoping to slow the pace of the US withdrawal, even though the Biden administration has given no signal it will do so.
Before his trip, Mr Ghani said that should Afghanistan be engulfed in intense conflict, "no one in the region will be spared. The consequences will be spread."
Pentagon officials have outlined a worst-case scenario that envisions the swift collapse of the Kabul government followed by a resurgence of Al Qaeda or other terrorist groups within two years.
On Thursday, Associated Press reported the US is looking to leave 650 troops in Afghanistan, mostly to protect its embassy and diplomatic staff.
But the agency said Washington expects to have the rest of the withdrawal all but completed by July 4 – two months before the announced deadline of September 11.
Before his meeting at the White House, Mr Ghani met with Defence Secretary Lloyd Austin and CIA director William Burns.
“Secretary Austin reaffirmed the United States’ commitment to an enduring US-Afghan defence relationship … and is deeply invested in the security and stability of Afghanistan,” the Pentagon said.
"Both sides reaffirmed the importance of ensuring that Afghanistan never again serves as a safe haven for terrorists who threaten the Afghan people, the United States or our allies."
Mr Biden is facing criticism from some Republicans for pulling out of Afghanistan, even though then-president Donald Trump made the 2020 deal with the Taliban to withdraw all US forces by May 2021.
Senate Minority Leader Mitch McConnell on Thursday said Mr Biden has “chosen to abandon the fight and invite even greater terrorist threats” and urged the president to delay the withdrawal of US forces.
White House Press Secretary Jen Psaki said Mr Biden had inherited an untenable situation.
“That’s the hand we were dealt,” she said. “The president made a decision which is consistent with his view that this was not a winnable war.”
Ms Psaki said Washington would guarantee the safety and relocation of thousands of Afghans who aided the US in the last 20 years.
The Biden administration has promised to move them to an as-yet-unannounced location while their special visa applications are processed.
“They will be relocated to a location outside of Afghanistan before we complete our military drawdown by September,” she said.
Silent Hill f
Publisher: Konami
Platforms: PlayStation 5, Xbox Series X/S, PC
Rating: 4.5/5
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
Countries offering golden visas
UK
Innovator Founder Visa is aimed at those who can demonstrate relevant experience in business and sufficient investment funds to set up and scale up a new business in the UK. It offers permanent residence after three years.
Germany
Investing or establishing a business in Germany offers you a residence permit, which eventually leads to citizenship. The investment must meet an economic need and you have to have lived in Germany for five years to become a citizen.
Italy
The scheme is designed for foreign investors committed to making a significant contribution to the economy. Requires a minimum investment of €250,000 which can rise to €2 million.
Switzerland
Residence Programme offers residence to applicants and their families through economic contributions. The applicant must agree to pay an annual lump sum in tax.
Canada
Start-Up Visa Programme allows foreign entrepreneurs the opportunity to create a business in Canada and apply for permanent residence.
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
THE BIO
Bio Box
Role Model: Sheikh Zayed, God bless his soul
Favorite book: Zayed Biography of the leader
Favorite quote: To be or not to be, that is the question, from William Shakespeare's Hamlet
Favorite food: seafood
Favorite place to travel: Lebanon
Favorite movie: Braveheart
RESULTS
5pm: Maiden (PA) Dh 80,000 (Turf) 1,200m
Winner: AF Majalis, Tadhg O’Shea (jockey), Ernst Oertel (trainer).
5.30pm: Maiden (PA) Dh 80,000 (T) 1,400m
Winner: Sawt Assalam, Szczepan Mazur, Ibrahim Al Hadhrami.
6pm: Maiden (PA) Dh 80,000 (T) 1,400m
Winner: Foah, Fabrice Veron, Eric Lemartinel.
6.30pm: Wathba Stallions Cup Handicap (PA) Dh 70,000 (T) 1,400m
Winner: Faiza, Sandro Paiva, Ali Rashid Al Raihe.
7pm: Handicap (PA) Dh 80,000 (T) 1,600m
Winner: RB Dixie Honor, Antonio Fresu, Helal Al Alawi.
7.30pm: Rated Conditions (TB) Dh 100,000 (T) 1,600m
Winner: Boerhan, Ryan Curatolo, Nicholas Bachalard.
65
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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.”
If you go…
Emirates launched a new daily service to Mexico City this week, flying via Barcelona from Dh3,995.
Emirati citizens are among 67 nationalities who do not require a visa to Mexico. Entry is granted on arrival for stays of up to 180 days.
Company%20profile
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