Smoke rises amid damaged buildings in Deraa, Syria. REUTERS
Smoke rises amid damaged buildings in Deraa, Syria. REUTERS
Smoke rises amid damaged buildings in Deraa, Syria. REUTERS
Smoke rises amid damaged buildings in Deraa, Syria. REUTERS

South Syria rebel enclave Deraa suffers heaviest bombing in weeks


Khaled Yacoub Oweis
  • English
  • Arabic

An opposition enclave in southern Syria on Tuesday came under the fiercest bombing since the regime attempted to recapture the area a month ago, residents and opposition sources in Amman said.

Rocket attacks by the Syrian military and militias allied with Iran began ferociously on Tuesday morning but subsided by late afternoon.

The sources said the break in the bombardment was designed for Russia to try to convince Deraa Al Balad’s 400 defenders to surrender for the offensive to stop.

“The shelling and rocket fire were the heaviest so far,” a resident who gave his first name as Mutasim said in a text message.

“They seemed intent on wiping out Deraa Al Balad before the fire suddenly stopped,” he said.

Deraa Al Balad and surrounding opposition areas in the countryside have been a testbed for the last three years for a different Russian posture in Syria not entirely reliant on force.

It centred on allowing a degree of self-governance to opposition areas in southern Syria and curbing the iron fist of the regime.

The approach, diplomats in the Middle East say, was partly influenced by Russia’s desire to draw international reconstruction funds to Syria.

It was also meant to show that forced population displacement does not necessarily accompany the return of the regime, they said.

A tacit deal between Russia, Israel and the US returned most of southern Syria to the regime in 2018 as a "de-escalation zone" supervised by Moscow.

"The Deraa model did not last long," one European diplomat in Amman said.

Deraa Al Balad is part of the city of Deraa, the capital of the Hauran Plain and birthplace of the 2011 revolt against five decades of Assad family rule.

The Russian-supervised arrangements in the city collapsed last month after opposition fighters attacked regime positions.

The rebels said it was a pre-emptive strike to stop a drive by the regime to overrun the area and others in southern Syria.

A Free Syrian Army fighter sits amid damaged buildings in a rebel-held part of the southern city of Deraa, Syria in 2017. Reuters
A Free Syrian Army fighter sits amid damaged buildings in a rebel-held part of the southern city of Deraa, Syria in 2017. Reuters

Government forces attacked the city with truck-mounted rocket launchers on Tuesday, killing at least two people, anti-Assad activists in Hauran said.

The rebels in the district and in allied villages and towns responded by attacking several regime positions in Hauran with medium weapons.

The regime’s offensive is spearheaded by the Syrian military's Fourth Division, regarded as the best-equipped unit.

Arab security sources said that although Mr Al Assad’s army enjoys close ties with Russia, Iran has also forged close links with the Fourth Division in the last six years.

The unit is headed by President Bashar Al Assad’s brother Maher Al Assad, the second most powerful man after the Syrian leader.

An opposition source in Amman said Russia sent several officers from its main military base of Hmeimim on the Mediterranean coast to Deraa on Tuesday to renegotiate a de facto rebel surrender.

“The Russian tactic is to keep up the pressure on Daraa Al Balad to give up while trying to avoid a massacre,” the source said.

“It would not be in Moscow’s interest.”

Under a proposal floated by the Russian military over the last four weeks, a quarter of the rebels would be expelled to areas under the Turkish sphere of influence in northern Syria.

The remainder would have to surrender their weapons and submit to the authority of the regime.

The government’s offensive expanded this week to rural opposition areas surrounding Deraa, prompting thousands of people in opposition areas to flee towards the West.

Some families reportedly took refuge in the Yarmouk River Valley, which is near Jordan and Israel.

The displacement continued on Tuesday, with dozens of families reportedly fleeing the opposition town on of Jassem, 40 kilometres north of Deraa.

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.”

Pots for the Asian Qualifiers

Pot 1: Iran, Japan, South Korea, Australia, Qatar, United Arab Emirates, Saudi Arabia, China
Pot 2: Iraq, Uzbekistan, Syria, Oman, Lebanon, Kyrgyz Republic, Vietnam, Jordan
Pot 3: Palestine, India, Bahrain, Thailand, Tajikistan, North Korea, Chinese Taipei, Philippines
Pot 4: Turkmenistan, Myanmar, Hong Kong, Yemen, Afghanistan, Maldives, Kuwait, Malaysia
Pot 5: Indonesia, Singapore, Nepal, Cambodia, Bangladesh, Mongolia, Guam, Macau/Sri Lanka

The specs: 2018 Jeep Grand Cherokee Trackhawk


Price, base: Dh399,999
Engine: Supercharged 6.2-litre V8
Gearbox: Eight-speed automatic
Power: 707hp @ 6,000rpm
Torque: 875Nm @ 4,800rpm
Fuel economy, combined: 16.8L / 100km (estimate)

Company%20profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20WonderTree%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20April%202016%3Cbr%3E%3Cstrong%3ECo-founders%3A%3C%2Fstrong%3E%20Muhammad%20Waqas%20and%20Muhammad%20Usman%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Karachi%2C%20Pakistan%2C%20Abu%20Dhabi%2C%20UAE%2C%20and%20Delaware%2C%20US%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20Special%20education%2C%20education%20technology%2C%20assistive%20technology%2C%20augmented%20reality%3Cbr%3EN%3Cstrong%3Eumber%20of%20staff%3A%20%3C%2Fstrong%3E16%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3EGrowth%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Grants%20from%20the%20Lego%20Foundation%2C%20UAE's%20Anjal%20Z%2C%20Unicef%2C%20Pakistan's%20Ignite%20National%20Technology%20Fund%3C%2Fp%3E%0A

Innotech Profile

Date started: 2013

Founder/CEO: Othman Al Mandhari

Based: Muscat, Oman

Sector: Additive manufacturing, 3D printing technologies

Size: 15 full-time employees

Stage: Seed stage and seeking Series A round of financing 

Investors: Oman Technology Fund from 2017 to 2019, exited through an agreement with a new investor to secure new funding that it under negotiation right now. 

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

COMPANY PROFILE

Name: Lamsa

Founder: Badr Ward

Launched: 2014

Employees: 60

Based: Abu Dhabi

Sector: EdTech

Funding to date: $15 million

Schedule for show courts

Centre Court - from 4pm UAE time

Johanna Konta (6) v Donna Vekic

Andy Murray (1) v Dustin Brown

Rafael Nadal (4) v Donald Young

 

Court 1 - from 4pm UAE time

Kei Nishikori (9) v Sergiy Stakhovsky

Qiang Wang v Venus Williams (10)

Beatriz Haddad Maia v Simona Halep (2)

 

Court 2 - from 2.30pm

Heather Watson v Anastasija Sevastova (18)

Jo-Wilfried Tsonga (12) v Simone Bolelli

Florian Mayer v Marin Cilic (7)

 

The specs

Engine: 4.0-litre V8 twin-turbocharged and three electric motors

Power: Combined output 920hp

Torque: 730Nm at 4,000-7,000rpm

Transmission: 8-speed dual-clutch automatic

Fuel consumption: 11.2L/100km

On sale: Now, deliveries expected later in 2025

Price: expected to start at Dh1,432,000

MATCH INFO

Crawley Town 3 (Tsaroulla 50', Nadesan 53', Tunnicliffe 70')

Leeds United 0 

TOURNAMENT INFO

Fixtures
Sunday January 5 - Oman v UAE
Monday January 6 - UAE v Namibia
Wednesday January 8 - Oman v Namibia
Thursday January 9 - Oman v UAE
Saturday January 11 - UAE v Namibia
Sunday January 12 – Oman v Namibia

UAE squad
Ahmed Raza (captain), Rohan Mustafa, Mohammed Usman, CP Rizwan, Waheed Ahmed, Zawar Farid, Darius D’Silva, Karthik Meiyappan, Jonathan Figy, Vriitya Aravind, Zahoor Khan, Junaid Siddique, Basil Hameed, Chirag Suri

Updated: August 31, 2021, 6:58 PM