Nadhmi Abdu Yehya and his comrade Hasan from the third battalion of Yemeni pro-government Al Amaliqa brigades had just finished breakfast and were heading to training when they heard a roar followed by an explosion that ripped through the dormitory they had left moments ago.
"I thought it’s doomsday,” Mr Abdu Yehya, 38, said as he recalled the scene of the Houthi insurgents’ ballistic missiles attack on the training camp in southern Al Anad base complex on Sunday. Forty soldiers were killed and 92 injured in the ambush, according to latest official toll.
As the explosion dumped them several metres away, a barely conscious and bleeding Mr Abdu Yehya hardly crawled to where his friend Hasan was lying in a pool of blood. He tried to resuscitate him but it would be too late.
"My friend was hardly breathing but still alive, I tried to do CPR for him but after a few minutes he drew his last breath and died," Mr Abdu Yehya said, still in complete shock.
Dozens of those who survived the bloodbath of Sunday were transferred to hospitals in Aden and Lahej.
The dormitory in the training camp was directly hit by two of four ballistic missiles that targeted the training yard also.
Photos from the scene showed charred and ripped off bodies of tens of soldiers who were still inside the hangar when it was targeted.
"The blast was massive. I was thrown few metres out of the hangar, I felt like someone kicked me to hell " Fhakhruddin Hasan, another soldier getting treatment for a shrapnel injury in the back, told The National, after a visit by a senior Yemeni official.
Mr Hasan remained conscious despite his injuries and the thick suffocating black smoke that engulfed everyone and everything following the attack.
“When I looked around, the scene was horrific, all my colleagues in the hangar were either burnt up beyond recognition or turned into pieces, few of them remained alive but suffering fatal burns," he said.
“I wasn’t badly injured but I’m not well. I am still haunted by the images inside the hangar... This will stay in my memory until I die.”
Mr Alawi Al Nouba, Aden's deputy for the martyrs and the injured, condemned the loss of lives of “brave young men” while confirming that dozens of soldiers are still unaccounted for.
Mr Al Nouba urged the international community to exert whatever efforts possible to prevent arms from reaching the hands of the Iran-backed militias.
Radhwan Mohammed, 32, was in the training yard when the rockets landed. He escaped death with slight shrapnel injuries.
"Words can't describe what happened. Imagine you are starting your day training, laughing, joking with your comrades and the next moment you are surrounded by their corpses,” he said.
“I can't sleep. Nightmare of the explosions chase me every single moment. I feel devastated and heartbroken."
Mr Mohammed said 1,250 soldiers were participating in the training course at the camp before the explosions. But he doesn’t know how many of them survived.
“The latest toll is 40 killed and 92 injured,” Lt Capt Mohammed Al Naqib told The National.
“As long as we are fighting against such criminal militias who get such advanced drones arms from Iran we will always have people sacrificing their lives in such coward attacks,” Lt Capt AL Naqib said.
“We learnt our lessons. They [Houthis] are targeting the southern forces because we are resilient in our battle against them and we will not back up."
Dark Souls: Remastered
Developer: From Software (remaster by QLOC)
Publisher: Namco Bandai
Price: Dh199
First Person
Richard Flanagan
Chatto & Windus
yallacompare profile
Date of launch: 2014
Founder: Jon Richards, founder and chief executive; Samer Chebab, co-founder and chief operating officer, and Jonathan Rawlings, co-founder and chief financial officer
Based: Media City, Dubai
Sector: Financial services
Size: 120 employees
Investors: 2014: $500,000 in a seed round led by Mulverhill Associates; 2015: $3m in Series A funding led by STC Ventures (managed by Iris Capital), Wamda and Dubai Silicon Oasis Authority; 2019: $8m in Series B funding with the same investors as Series A along with Precinct Partners, Saned and Argo Ventures (the VC arm of multinational insurer Argo Group)
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.”
PROFILE OF INVYGO
Started: 2018
Founders: Eslam Hussein and Pulkit Ganjoo
Based: Dubai
Sector: Transport
Size: 9 employees
Investment: $1,275,000
Investors: Class 5 Global, Equitrust, Gulf Islamic Investments, Kairos K50 and William Zeqiri
Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
Zayed Sustainability Prize
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
Company Fact Box
Company name/date started: Abwaab Technologies / September 2019
Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO
Based: Amman, Jordan
Sector: Education Technology
Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed
Stage: early-stage startup
Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.