Migrants from Syria and Libya wait to be rescued south of the Italian island of Lampedusa in the Mediterranean on Wednesday. AP
Migrants from Syria and Libya wait to be rescued south of the Italian island of Lampedusa in the Mediterranean on Wednesday. AP
Migrants from Syria and Libya wait to be rescued south of the Italian island of Lampedusa in the Mediterranean on Wednesday. AP
Migrants from Syria and Libya wait to be rescued south of the Italian island of Lampedusa in the Mediterranean on Wednesday. AP

Libya detains dozens of migrants in home raids in Tripoli


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Dozens of migrants were rounded up in the Libyan capital Tripoli on Monday in the country's latest crackdown.

And neighbouring Tunisia said on Monday that more than 650 migrants were intercepted or rescued trying to reach Europe by sea at the weekend.

Tunisia and Libya are the main points of departure for migrants trying to reach Europe from Africa.

In Libya, police said security forces detained many migrants in raids on dwellings in Tripoli’s Airport Road area early on Monday.

Dozens of migrants were pictured sitting on the ground in an open area surrounded by armed forces.

The raids followed an increase in crimes including prostitution, robbery and drug trafficking in the area, police said. The statement said legal measures would be taken against the migrants.

Reports said the migrants were likely to be taken to detention centres in Tripoli — places that rights activists say are rife with abuse and where migrants are kept in miserable conditions.

A spokesman for the Tripoli-based government did not answer calls seeking comment.

Two migrants killed while collecting refuse

Over the weekend, a vehicle hit two migrants working as refuse collectors in the Airport Road area. Both were killed.

Last year, security forces detained more than 5,000 migrants, including many women and children, in a section of Tripoli in what authorities described as a security campaign against illegal migration and drug trafficking.

The UN decried the clampdown, which involved harassing migrants at their homes, beatings and shootings.

Sea crossing attempts tend to increase during spring and summer.

In Tunisia, 657 people were rescued or prevented from trying to cross in 46 separate incidents between Friday and Monday, maritime and military officials said on Monday.

The Italian island of Lampedusa is just 140 kilometres from Tunisia's east coast.

Migrants next to their overturned boat during a rescue operation in the Mediterranean south of the Italian island of Lampedusa on Thursday. AP
Migrants next to their overturned boat during a rescue operation in the Mediterranean south of the Italian island of Lampedusa on Thursday. AP

The coast guard thwarted 10 attempted crossings overnight, bringing ashore 156 would-be migrants, the National Guard said.

Two thirds of them were from sub-Saharan Africa and the rest were Tunisians.

The previous night, the National Guard said it had foiled 11 other attempts, preventing 219 people from migrating, including 113 from sub-Saharan African countries.

Meanwhile, defence ministry spokesman Mohamed Zekri told AFP that 42 Egyptians who had set sail from neighbouring Libya were rescued on Sunday off Kerkennah, central Tunisia, after their boat sank and they took refuge on an oil platform.

Tunisia is in the throes of political and economic crises, while Libya has been gripped by lawlessness since 2011 and militias have turned to people trafficking.

The two countries are also the gateway for sub-Saharan Africans hoping for a better life by escaping impoverished and strife-torn countries such as Sudan.

DSC Eagles 23 Dubai Hurricanes 36

Eagles
Tries: Bright, O’Driscoll
Cons: Carey 2
Pens: Carey 3

Hurricanes
Tries: Knight 2, Lewis, Finck, Powell, Perry
Cons: Powell 3

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.”

UAE currency: the story behind the money in your pockets
What vitamins do we know are beneficial for living in the UAE

Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.

HIJRA

Starring: Lamar Faden, Khairiah Nathmy, Nawaf Al-Dhufairy

Director: Shahad Ameen

Rating: 3/5

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Brief scoreline:

Manchester United 0

Manchester City 2

Bernardo Silva 54', Sane 66'

The lowdown

Badla

Rating: 2.5/5

Produced by: Red Chillies, Azure Entertainment 

Director: Sujoy Ghosh

Cast: Amitabh Bachchan, Taapsee Pannu, Amrita Singh, Tony Luke

If you go

Flights

Emirates flies from Dubai to Phnom Penh with a stop in Yangon from Dh3,075, and Etihad flies from Abu Dhabi to Phnom Penh with its partner Bangkok Airlines from Dh2,763. These trips take about nine hours each and both include taxes. From there, a road transfer takes at least four hours; airlines including KC Airlines (www.kcairlines.com) offer quick connecting flights from Phnom Penh to Sihanoukville from about $100 (Dh367) return including taxes. Air Asia, Malindo Air and Malaysian Airlines fly direct from Kuala Lumpur to Sihanoukville from $54 each way. Next year, direct flights are due to launch between Bangkok and Sihanoukville, which will cut the journey time by a third.

The stay

Rooms at Alila Villas Koh Russey (www.alilahotels.com/ kohrussey) cost from $385 per night including taxes.

Ain Dubai in numbers

126: The length in metres of the legs supporting the structure

1 football pitch: The length of each permanent spoke is longer than a professional soccer pitch

16 A380 Airbuses: The equivalent weight of the wheel rim.

9,000 tonnes: The amount of steel used to construct the project.

5 tonnes: The weight of each permanent spoke that is holding the wheel rim in place

192: The amount of cable wires used to create the wheel. They measure a distance of 2,4000km in total, the equivalent of the distance between Dubai and Cairo.

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Updated: June 20, 2023, 7:16 AM