Rayan Aourram, the Moroccan boy, 5, at the centre of a rescue effort that captivated the world, was pronounced dead on Saturday night.
The boy had fallen 32 metres down a dry well. It was hours before his parents realised where he was and alerted the authorities.
Moroccan officials announced Rayan's death at about 10pm local time, shortly after rescue workers were able to extract him from the well.
The painstaking five-day operation to reach him was broadcast around the world.
Rayan’s parents were escorted to an ambulance at the site before he emerged.
His body was wrapped in a yellow blanket after it was taken out through a tunnel dug specifically for the rescue, AP reported.
King Mohammed VI of Morocco expressed his condolences to Rayan’s parents in a phone call. A statement from the royal court confirmed the death.
Footage on social media showed the scene after the body was recovered, with hundreds of distraught rescue workers and onlookers gathered at the site, praying and shining the flashlights of their phones into the air.
Rayan fell down the well in the town of Tamorot on Tuesday, sparking a round-the-clock rescue involving digging a hole alongside the narrow shaft to reach him.
Search crews first used five bulldozers to dig vertically to a depth of more than 31 metres, Morocco’s official MAP news agency reported. Then on Friday they started excavating a horizontal tunnel to reach the trapped boy. Experts in topographical engineering were called upon for help.
As workers inched closer to the trapped child on Saturday, the sound of earth falling was heard, near the area where rescuers were at work.
One workman was seen walking away from the area holding his face as onlookers called out prayers.
Rescuers were able to feed Rayan food and oxygen through an opening in the well, and they placed a camera on him to watch his progress.
Hundreds of technical experts, workers, journalists, volunteers and well-wishers watched the rescue mission at the site and on live streams.
“I pray and beg God that he comes out of that well alive and safe,” his mother Wassima Kharchich had told the Moroccan news outlet 2M. “Please God, ease my pain and his, in that hole of dust.”
Journalists broadcasting the rescue mission on Facebook Live filled the air with prayers for Rayan and praised the sense of unity that the tragedy had brought among Moroccans.
A reporter for local outlet ChoufTV welled up with tears as he described the scene, and often expressed feeling a tightness in his chest as the tension mounted in anticipation of Rayan's appearance through the mouth of the tunnel.
The final phase of the rescue mission was the most dangerous.
Topography experts assisted with the technical side of the delicate operation, during which soil collapsed at various stages.
Members of Morocco's Auxiliary Forces cordoned off the area to keep crowds and reporters at a safe distance.
Overnight on Thursday, more rescuers, including members of the Moroccan Red Crescent, joined the operation and dug under floodlights.
An official from the rescue team said on Thursday that as the well became deeper, it also narrowed to a diameter of a little more than 30 centimetres.
Rayan's father, Khalid, said his nephew had, through the camera, seen the boy eating. He said he was touched by the outpouring of support for Rayan's ordeal.
"Many people did not sleep, they stayed up with us and I thank them," he told reporters on Thursday.
The hashtag #SaveRayan in Arabic and English trended across North Africa throughout the operation as tributes from diplomats, world leaders and celebrities flooded social media.
The family was yet to announce the date of the funeral, but according to Muslim tradition it must take place soon, in principle as early as Sunday.
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.”
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Biography
Favourite drink: Must have karak chai and Chinese tea every day
Favourite non-Chinese food: Arabic sweets and Indian puri, small round bread of wheat flour
Favourite Chinese dish: Spicy boiled fish or anything cooked by her mother because of its flavour
Best vacation: Returning home to China
Music interests: Enjoys playing the zheng, a string musical instrument
Enjoys reading: Chinese novels, romantic comedies, reading up on business trends, government policy changes
Favourite book: Chairman Mao Zedong’s poems
LA LIGA FIXTURES
Friday
Granada v Real Betis (9.30pm)
Valencia v Levante (midnight)
Saturday
Espanyol v Alaves (4pm)
Celta Vigo v Villarreal (7pm)
Leganes v Real Valladolid (9.30pm)
Mallorca v Barcelona (midnight)
Sunday
Atletic Bilbao v Atletico Madrid (4pm)
Real Madrid v Eibar (9.30pm)
Real Sociedad v Osasuna (midnight)
RESULTS
5pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (Turf) 2,200m
Winner: M'A Yaromoon, Jesus Rosales (jockey), Khalifa Al Neydai (trainer)
5.30pm: Khor Al Baghal – Conditions (PA) Dh80,000 (T) 1,600m
Winner: No Riesgo Al Maury, Antonio Fresu, Ibrahim Al Hadhrami
6pm: Khor Faridah – Handicap (PA) Dh80,000 (T) 1,600m
Winner: JAP Almahfuz, Royston Ffrench, Irfan Ellahi
6.30pm: Abu Dhabi Fillies Classic – Prestige (PA) Dh110,000 (T) 1,400m
Winner: Mahmouda, Pat Cosgrave, Abdallah Al Hammadi
7pm: Abu Dhabi Colts Classic – Prestige (PA) Dh110,000 (T) 1,400m
Winner: AS Jezan, George Buckell, Ahmed Al Mehairbi
7.30pm: Khor Laffam – Handicap (TB) Dh80,000 (T) 2,200m
Winner: Dolman, Antonio Fresu, Bhupath Seemar
EMIRATES'S%20REVISED%20A350%20DEPLOYMENT%20SCHEDULE
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Brief scoreline:
Liverpool 2
Mane 51', Salah 53'
Chelsea 0
Man of the Match: Mohamed Salah (Liverpool)
The specs
Engine: 3.8-litre V6
Power: 295hp at 6,000rpm
Torque: 355Nm at 5,200rpm
Transmission: 8-speed auto
Fuel consumption: 10.7L/100km
Price: Dh179,999-plus
On sale: now