Conflict-affected people get free food rations provided by the Mona relief agency on World Food Day, in Sanaa, Yemen, in October. EPA
Conflict-affected people get free food rations provided by the Mona relief agency on World Food Day, in Sanaa, Yemen, in October. EPA
Conflict-affected people get free food rations provided by the Mona relief agency on World Food Day, in Sanaa, Yemen, in October. EPA
Conflict-affected people get free food rations provided by the Mona relief agency on World Food Day, in Sanaa, Yemen, in October. EPA

We need to help more Yemenis despite global economic crisis, says ICRC chief


Mina Aldroubi
  • English
  • Arabic

Concern is growing among aid groups operating in Yemen that the global financial downturn caused by the coronavirus pandemic and the Russia-Ukraine war could severely affect their work.

NGOs may be forced to scale down operations, despite millions of Yemenis remaining in dire need of humanitarian assistance, a senior relief official said.

Martin Schuepp, director of operations for the International Committee of the Red Cross , told The National that aid organisations cannot afford to reduce operations.

“Although we are facing a challenging global economic crisis [that includes] inflation and disruption of supply chains, it’s important for us to maintain vital operations in Yemen," he said.

Yemen is facing one of the world’s worst humanitarian crises and assistance is vital.

"The country unfortunately continues to present one of the worst humanitarian crises in which we operate,” Mr Schuepp said.

The war has left nearly 23.4 million Yemenis — more than 70 per cent of the population — in need of humanitarian assistance in 2022, according to various aid organisations including the ICRC and the UN. More than 12 million people are estimated to be in acute need.

The figures also show that 19 million people are food insecure, of which 7.1 million people are projected to face emergency conditions.

Martin Schuepp, director of operations at the ICRC. Photo: ICRC
Martin Schuepp, director of operations at the ICRC. Photo: ICRC

Nearly 17.8 million lack access to safe water and adequate sanitation services.

“Millions of Yemenis lack access to water and health care and are food insecure," Mr Schuepp said. "We can’t reduce our ambition. We plan to maintain a large operation about the same level this year and for next year. It’s important we are able to uphold this level of operations moving forward.

Mr Schuepp has just completed a visit to Yemen, where relief response remains underfunded, leaving many donor groups with limited resources.

"If we face significant shortfalls of funding, it will require us to reduce our operations and to help fewer Yemenis, while we see more Yemenis who are food insecure who require access to healthcare and water," he said.

The ICRC's Yemen budget in 2021 was about $112 million. In 2022, it is about $134 million.

With that budget, the organisation has been able to "provide signification assistance to populations affected by the conflict, support hospitals, work on water supplies and work on long-term measures that will provide long term relief to the population," Mr Schuepp said.

The ICRC official said that while Yemenis are divided on the front lines, they are united in one thing — that there is "too much suffering today".

Mr Schuepp said the only way to end the suffering was through a political solution that all sides to the conflict agreed to.

"What is clear is that if we want recovery and respite for the Yemeni people, it will require a political solution," he said.

Yemen's political process will be important in allowing people to rebuild their lives more sustainably, he said.

"This is not where the ICRC is active, that's in the political arena," he said.

A UN-brokered nationwide ceasefire that went into effect on April 2 brought about six months of relative calm after being extended twice for two-months periods.

However, Yemen's warring sides failed to agree on a further extension beyond October 2.

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Transmission: seven-speed automatic

Power: 363hp

Torque: 560Nm

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HIV on the rise in the region

A 2019 United Nations special analysis on Aids reveals 37 per cent of new HIV infections in the Mena region are from people injecting drugs.

New HIV infections have also risen by 29 per cent in western Europe and Asia, and by 7 per cent in Latin America, but declined elsewhere.

Egypt has shown the highest increase in recorded cases of HIV since 2010, up by 196 per cent.

Access to HIV testing, treatment and care in the region is well below the global average.  

Few statistics have been published on the number of cases in the UAE, although a UNAIDS report said 1.5 per cent of the prison population has the virus.

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.”

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Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna

Rating: 1/5

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BMW M5 specs

Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor

Power: 727hp

Torque: 1,000Nm

Transmission: 8-speed auto

Fuel consumption: 10.6L/100km

On sale: Now

Price: From Dh650,000

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Skoda Superb Specs

Engine: 2-litre TSI petrol

Power: 190hp

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UAE currency: the story behind the money in your pockets

Chelsea 2 Burnley 3
Chelsea
 Morata (69'), Luiz (88')
Burnley Vokes (24', 43'), Ward (39')
Red cards Cahill, Fabregas (Chelsea)

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

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UAE currency: the story behind the money in your pockets
What can victims do?

Always use only regulated platforms

Stop all transactions and communication on suspicion

Save all evidence (screenshots, chat logs, transaction IDs)

Report to local authorities

Warn others to prevent further harm

Courtesy: Crystal Intelligence

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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

Tesalam Aleik

Abdullah Al Ruwaished

(Rotana)

The biog

Name: Abeer Al Shahi

Emirate: Sharjah – Khor Fakkan

Education: Master’s degree in special education, preparing for a PhD in philosophy.

Favourite activities: Bungee jumping

Favourite quote: “My people and I will not settle for anything less than first place” – Sheikh Mohammed bin Rashid.

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Despacito's dominance in numbers

Released: 2017

Peak chart position: No.1 in more than 47 countries, including the United States, the United Kingdom, Australia and Lebanon

Views: 5.3 billion on YouTube

Sales: With 10 million downloads in the US, Despacito became the first Latin single to receive Diamond sales certification

Streams: 1.3 billion combined audio and video by the end of 2017, making it the biggest digital hit of the year.

Awards: 17, including Record of the Year at last year’s prestigious Latin Grammy Awards, as well as five Billboard Music Awards

Desert Warrior

Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

The specs

Engine: 2x201bhp AC Permanent-magnetic electric

Transmission: n/a

Power: 402bhp

Torque: 659Nm

Price estimate: Dh200,000

On sale: Q3 2022 

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The%20specs
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Updated: November 04, 2022, 12:10 PM