Monday, April 6, 2015

Top 100 Arab tycoons amass $174bn; State of Syrian refugee camp 'beyond inhumane'; Britain's diminished global stature

1 Top 100 Arab tycoons amass $174 bn (Issac John in Khaleej Times) Unfazed by the plunge in oil prices, the world’s top 100 Arab tycoons continued to build their fortunes, amassing a combined wealth of $174.37 billion, an $8.3 billion increase on 2014.

Saudi Arabia’s Prince Alwaleed bin Talal Al Saud, with an estimated fortune of $22.6 billion, once again ranks top in the line-up of the 100 super rich Arabs on the planet, Forbes Middle East revealed. Joseph Safra, descendent of a banking family that hails from Syria, who is also the world’s richest banker, occupies second spot with $17.3 billion. The top 10 this year included members of the UAE’s Al Ghurair family and Egypt’s Mansour and Sawiris.

The full line-up of Forbes global billionaires, comprising a total of 1,826 names, account for an aggregate net worth of $7.05 trillion. “Bill Gates presides over the ranking this year, with $79.2 billion, up $3.2 billion from last year, a position he has held for 16 out of the past 21 years.”

The veteran billionaire is joined by a total of 46 billionaires under the age of 40 this year, with the 24-year old founder-CEO of Snapchat, Evan Spiegel, counting as the youngest. Gates’ fellow veteran of the billionaire scene, Warren Buffet, increased his wealth by $14.5 billion this year to $72.7 billion, making him the world’s biggest gainer of 2015.

The number of Arab billionaires has risen to 49 this time around -- four more than last year -- with shared wealth of $155.1 billion, up $7.4 billion on the previous year. In the Middle East, 23 Arab names have witnessed a drop this year too — dollars by the billion are falling through the cracks in a region where privacy reigns.


2 State of Syrian refugee camp ‘beyond inhumane’ (San Francisco Chronicle) Palestinian fighters clashed with Islamic State militants in a heavily contested Palestinian refugee camp in the Syrian capital on Monday as a United Nations official described the situation in the embattled camp as "beyond inhumane."

The fighting in Yarmouk began Wednesday after the Islamic State group muscled into the camp, marking the extremists' deepest foray yet into Damascus. The heavy clashes that have raged since then have added yet another layer of misery for up to 18,000 Yarmouk residents who have already endured desperate conditions marked by a lack of basic food, medicine and water.

The UN Security Council condemned "the grave crimes" committed by the Islamic State group and al-Qaida-linked al-Nusra against civilians in Yarmouk, and said their crimes must not go unpunished. The fighting inside the camp has largely pitted the Islamic State group against Aknaf Beit al-Maqdis, a Palestinian faction opposed to Syrian President Bashar Assad. Observatory director Rami Abdurrahman estimated that the Islamic State group now controls as much as 90 percent of Yarmouk, slowly squeezing out Aknaf Beit al-Maqdis.

The United Nations says the civilians trapped in Yarmouk include a large number of children. The camp has been under government siege for nearly two years, leading to starvation and illnesses. The camp also has witnessed several rounds of ferocious and deadly fighting between government forces and anti-Assad militants.


3 Britain’s diminished global stature (Jonathan Eyal in Straits Times) Since the beginning of this decade, Britain's footprint on world affairs has rapidly declined, and whoever wins the British general elections a month from now on May 7 will face the same existential question which every London-based government since World War II confronted but failed to address: what could or should be Britain's world role?

On paper, most British officials remain committed to the idea that their country is a global player. One of the first things the current government led by Prime Minister David Cameron did when it came to office in 2010 was to commission a Strategic Defence and Security Review which came to the bold conclusion that the nation "has always had global responsibilities and global ambitions" and vowed to "have no less ambition in the decades to come".

The 2010 governmental strategic review pencilled in a cut of 8 per cent in Britain's defence expenditure; that turned out to be closer to 25 per cent in real spending terms, pushing Britain down to sixth place in the rankings of global defence spenders. For the first time in modern history, the British Parliament rejected in 2013 a government motion to authorise the use of force in Syria, a decision which not only inflicted deep damage on Britain's standing in the Middle East, but also curtailed the British government's ability to undertake future overseas military operations.

Britain claims to be leading by example in the fight against the so-called Islamic State in Iraq and Syria terrorists in the Middle East. But in hardware terms, this consists of precisely eight jets which, on average, undertake one bombing mission a day.

A variety of explanations exists for this decline. A national backlash against a decade of frequent military interventions ordered by former premier Tony Blair in the Balkans, Africa and Iraq has certainly reduced appetite for foreign adventures. The financial crisis which struck Britain also took its toll. But Britain is still one of Europe's powerhouses; London has the highest concentration of security think-tanks on the continent, and they provide a constant flow of excellent analysis.

"Write Britain off at your peril," wrote Professor Brendan Simms of Cambridge University, an authority on international relations. Perhaps he's right. Still, it may take a while before the country regains confidence in itself, and elects a prime minister who defines his or her mission as something a bit more than just clinging to power by avoiding all the hard choices.

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