• Fighters loyal to Yemen's government on the front line facing Iran-backed Houthi rebels in the country's north-eastern province of Marib on September 27. All photos: AFP
    Fighters loyal to Yemen's government on the front line facing Iran-backed Houthi rebels in the country's north-eastern province of Marib on September 27. All photos: AFP
  • Fighting has intensified and the death toll has mounted in recent weeks, military sources say.
    Fighting has intensified and the death toll has mounted in recent weeks, military sources say.
  • Fighters loyal to Yemen's government perform a traditional dance at a position near the front line facing Iran-backed Houthi rebels in Marib.
    Fighters loyal to Yemen's government perform a traditional dance at a position near the front line facing Iran-backed Houthi rebels in Marib.
  • Smoke billows during clashes between forces loyal to Yemen's government and Houthi rebel fighters in Marib.
    Smoke billows during clashes between forces loyal to Yemen's government and Houthi rebel fighters in Marib.
  • A pro-government fighter fires at positions held by Iran-backed Houthi rebels in clashes for the strategic city of Marib.
    A pro-government fighter fires at positions held by Iran-backed Houthi rebels in clashes for the strategic city of Marib.

Petrol station attack kills 'dozens' in Marib as Houthi militias suffer heavy losses


Ali Mahmood
  • English
  • Arabic

Houthi militias in Yemen have sustained more than 130 casualties during heavy Saudi air force strikes around the northern city of Marib, the coalition led by the kingdom said.

Meanwhile, a Houthi projectile — possibly a drone or a missile — struck a petrol station south of the city, killing “dozens” of civilians.

Marib, a strategically important trading centre, is now almost surrounded by the Iran-backed rebels following an offensive that began in February.

We targeted nine military vehicles of the Houthi militia in Abdiya, and their losses exceeded 134 members
Saudi military spokesman

The ancient city, which is now the scene of some of the worst violence in the course of the seven-year war, is located on a network of roads which could give the militants several options for advancing further south.

Marib is in an oil-rich area of the country and is home to Yemen’s only oil refinery, although it remains to be seen whether the group could make use of the region's oil if it captures the infrastructure.

The Houthis have been deliberately targeting civilian infrastructure with drone and ballistic missile strikes.

Petrol station destroyed

On Wednesday, it was reported that the Houthi projectile struck the petrol station in Al Jumah.

“Dozens of drivers were filling their cars at a fuel station owned by Al Husein bin Ahmed at the Jabal Murad intersection, near the power station of Al Jubah district. They were killed when a Houthi missile struck the station, causing tremendous devastation,” Hamza Al Muradi, a resident from Jabal Murad told The National.

“Many people were killed and others were injured.

“Many vehicles were burnt up by the missile strike, as well as a grocery store near the station,” he added.

The attack occurred as fighting between Houthi rebels and pro-government troops raged in the districts of Al Jubah and Al Abdiyah in southern Marib on Tuesday.

“Clashes fiercely erupted when Houthi rebels pushed waves of fighters attempting to take control of the centre of Al Jubah district, while the pro-government troops and the tribes launched a counter attack and pushed them back later on Tuesday,” a tribal source based in Al Jubah told The National.

“The coalition jets launched over 30 strikes, the majority targeting Houthi gatherings in Al Abdiyah, which has been under Houthi siege for nearly three weeks " the tribal source added

“Houthi militias have been imposing a strict siege around the district of Al Abdiyah, attempting to push tribal fighters to surrender,” a government official in Marib told The National last week.

AbdulHakim Al Qaisi, director of the government's Social Affairs Office in Marib, said: “The rebels have been imposing a strict siege around Al Abdiyah since September 21. They didn’t allow humanitarian organisations to have access to 5,143 families besieged in the area.”

Families in Al Abdiyah are suffering “harsh conditions lacking the basic necessities for life” he said.

Houthis vulnerable from the air

Houthi pickup lorries, the workhorse of the movement’s fighters, are highly visible from the air in the open, rocky terrain around the city, kicking up columns of dust as they move from position to position.

“We targeted nine military vehicles of the Houthi militia in Abdiya, and their losses exceeded 134 members,” said a coalition statement carried by official Saudi media.

Air strikes in the preceding days had killed 150 Houthi fighters, the Saudi Arabian-led coalition said.

The rebels rarely announce casualties in their own ranks.

Yemen has been devastated by the seven-year war pitting the Houthi rebels against the government, which is supported by a Saudi-led military coalition.

The rebels overran the national capital Sanaa in 2014, prompting the Saudi-led intervention to prop up the government the following year.

Tens of thousands have been killed and millions displaced since then. Many fled to Marib, the population of which has ballooned since the war began.

Key figures in the life of the fort

Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.

Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.

Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.

Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.

Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.

Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.

Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.

Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.

Sources: Jayanti Maitra, www.adach.ae

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Dubai Bling season three

Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed 

Rating: 1/5

Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

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.”

Updated: November 01, 2021, 1:00 PM