Children walking among shelters at the Kurdish-run Al Hol camp, where three Iraqis, including a woman, were killed on Saturday. Photo: AFP
Children walking among shelters at the Kurdish-run Al Hol camp, where three Iraqis, including a woman, were killed on Saturday. Photo: AFP
Children walking among shelters at the Kurdish-run Al Hol camp, where three Iraqis, including a woman, were killed on Saturday. Photo: AFP
Children walking among shelters at the Kurdish-run Al Hol camp, where three Iraqis, including a woman, were killed on Saturday. Photo: AFP

ISIS ambush kills 13 loyalist fighters in Syria


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An ISIS ambush has killed at least 13 fighters loyal to the Syrian government, the Syrian Observatory for Human Rights (SOHR) said.

The attack in the country's east killed “at least 13 members of a local pro-regime group and wounded others”, the watchdog said.

It took place in the Masrib area, in the West of Deir Ezzor province, while the fighters were conducting a sweep of the area, said the observatory, which relies on a network of sources inside Syria.

Observatory chief Rami Abdel Rahman told AFP it was the deadliest attack on pro-government forces in five months.

The ISIS group's self-proclaimed caliphate was declared defeated in Syria in the riverside hamlet of Baghouz in March 2019 following a gruelling US-backed offensive.

But the group continues to conduct attacks on government forces from hideouts in the vast Syrian Desert that stretches all the way from the Damascus outskirts to the Iraqi border.

Mr Abdel Rahman said the group has recently increased its activity both in government-controlled areas and in territory controlled by the Kurdish-led Syrian Democratic Forces.

The observatory said that 1,593 pro-government fighters and 153 allied pro-Iranian fighters had been killed in ISIS attacks since late March 2019.

It said 1,081 ISIS fighters had been killed over the same period.

Three Iraqis killed

Earlier on Saturday, the observatory said that three Iraqis, including a woman, were killed in violence inside the Al Hol camp in north-eastern Syria that houses relatives of suspected extremists.

The overcrowded camp is under the control of the Kurdish administration that runs the region but violence, mostly perpetrated by ISIS, is frequent.

The conflict in Syria erupted in 2011 with nationwide protests against the government that were met with a brutal crackdown.

It escalated into a devastating war that drew in regional and international powers, and has killed nearly half a million people.

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.”

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
if you go

The flights
The closest international airport to the TMB trail is Geneva (just over an hour’s drive from the French ski town of Chamonix where most people start and end the walk). Direct flights from the UAE to Geneva are available with Etihad and Emirates from about Dh2,790 including taxes.

The trek
The Tour du Mont Blanc takes about 10 to 14 days to complete if walked in its entirety, but by using the services of a tour operator such as Raw Travel, a shorter “highlights” version allows you to complete the best of the route in a week, from Dh6,750 per person. The trails are blocked by snow from about late October to early May. Most people walk in July and August, but be warned that trails are often uncomfortably busy at this time and it can be very hot. The prime months are June and September.

 

 

What can you do?

Document everything immediately; including dates, times, locations and witnesses

Seek professional advice from a legal expert

You can report an incident to HR or an immediate supervisor

You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline

In criminal cases, you can contact the police for additional support

THREE
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Our Time Has Come
Alyssa Ayres, Oxford University Press

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The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

Updated: November 14, 2021, 5:19 AM