• Syrian Kurds take part in a protest in the northeastern city of Qamishli. Delil souleiman / AFP Photo
    Syrian Kurds take part in a protest in the northeastern city of Qamishli. Delil souleiman / AFP Photo
  • Pro-Kurdish demonstrators staged protests against Turkey’s military offensive in northern Syria. Delil souleiman / AFP Photo
    Pro-Kurdish demonstrators staged protests against Turkey’s military offensive in northern Syria. Delil souleiman / AFP Photo
  • Lebanese and Syrian Kurds living in the country protest against what they call 'Turkish aggression' in northern Syria. Nabil Mounzer / EPA
    Lebanese and Syrian Kurds living in the country protest against what they call 'Turkish aggression' in northern Syria. Nabil Mounzer / EPA
  • Turkish President Recep Tayyip Erdogan has threatened to “purge” Kurdish militia from the town of Afrin. Nabil Mounzer / EPA
    Turkish President Recep Tayyip Erdogan has threatened to “purge” Kurdish militia from the town of Afrin. Nabil Mounzer / EPA
  • Protests in front of the UN house in Beirut, Lebanon. Nabil Mounzer / EPA
    Protests in front of the UN house in Beirut, Lebanon. Nabil Mounzer / EPA
  • German police arrests a demonstrator in Duesseldorf. Britta Radike / dpa / AFP Photo
    German police arrests a demonstrator in Duesseldorf. Britta Radike / dpa / AFP Photo
  • A pro-Kurdish protester is arrested in Duesseldorf. / Marcel Kusch / dpa / AFP Photo
    A pro-Kurdish protester is arrested in Duesseldorf. / Marcel Kusch / dpa / AFP Photo
  • Several people in Germany were left injured in scuffles with police. Britta Radike / dpa / AFP Photo
    Several people in Germany were left injured in scuffles with police. Britta Radike / dpa / AFP Photo

Turkish air strikes in Syria kill at least 11, war monitor says


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Turkish air strikes in northern Syria have killed at least 11 people, including government soldiers, the Syrian Observatory for Human Rights and a Kurdish media outlet said.

The attacks happened near the northern town of Kobani on the border with Turkey, where US-backed Kurdish fighters and Turkish-backed armed groups have long been at odds with each other.

Syrian state media said on Tuesday that the strikes killed three government soldiers and wounded six.

The UK-based Syrian Observatory said eight people were wounded.

Syrian troops hit Turkish-backed positions in retaliation, Syrian state media said.

Hawar News, the news agency for the semi-autonomous Kurdish areas in Syria, reported that 16 Syrian soldiers were killed, while another Kurdish news agency, North Press Agency, said 22 soldiers were killed.

Discrepancies in casualty figures immediately after attacks are not uncommon in Syria.

The North Press Agency also said the Turkish-backed Syrian National Army patrolled neighbourhoods in the northern city of Azaz after anti-Turkish graffiti was spotted.

Turkish military convoys were sent to several areas in the Syria's north near Aleppo as Turkish aircraft conducted reconnaissance flights over the areas, NPA reported.

Medical staff in Aleppo's countryside were told to “stay alert”.

Turkish-backed Syrian rebel fighters take part in a military parade between the border towns of Qatmah and Azaz in the rebel-held northern part of the Aleppo province, on July 2, 2022. AFP
Turkish-backed Syrian rebel fighters take part in a military parade between the border towns of Qatmah and Azaz in the rebel-held northern part of the Aleppo province, on July 2, 2022. AFP

Turkey’s defence ministry said on Tuesday that 13 suspected Kurdish militants were killed after Turkish artillery retaliated against a deadly attack on a Turkish border post near the town of Birecik. The ministry said operations in the Sanliurfa region were continuing.

Provincial governor Salih Ayhan told Turkey’s state-run Anadolu Agency that a soldier was killed and four wounded in the attack on the Cicekalan border post.

In a separate announcement on Twitter, the defence ministry said five other Kurdish militants were killed by Turkish artillery systems. It said they were allegedly preparing for an attack on Turkish-controlled areas of northern Syria and had opened “harassment fire” on the region.

Turkey has launched three major cross-border operations into Syria since 2016 and already controls some territories in the north.

Last week, Turkish Foreign Minister Mevlut Cavusoglu called for reconciliation among government and opposition forces in Syria, leading to widespread demonstrations in rebel-held areas in Aleppo's countryside.

In March 2020, Turkish drone strikes in Idlib, Syria, killed 19 government soldiers. Reports of the attacks came hours after Turkey shot down two Syrian warplanes.

At the time, Turkey said it had launched a full military operation against President Bashar Al Assad's Russian-backed forces, in response to what it claimed was an attack by the Syrian government on Turkish positions that killed 34 of its soldiers.

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

Company profile

Date started: 2015

Founder: John Tsioris and Ioanna Angelidaki

Based: Dubai

Sector: Online grocery delivery

Staff: 200

Funding: Undisclosed, but investors include the Jabbar Internet Group and Venture Friends

Red flags
  • Promises of high, fixed or 'guaranteed' returns.
  • Unregulated structured products or complex investments often used to bypass traditional safeguards.
  • Lack of clear information, vague language, no access to audited financials.
  • Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
  • Hard-selling tactics - creating urgency, offering 'exclusive' deals.

Courtesy: Carol Glynn, founder of Conscious Finance Coaching

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.”

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

U19 WORLD CUP, WEST INDIES

UAE group fixtures (all in St Kitts)

  • Saturday 15 January: UAE beat Canada by 49 runs 
  • Thursday 20 January: v England 
  • Saturday 22 January: v Bangladesh 

UAE squad:

Alishan Sharafu (captain), Shival Bawa, Jash Giyanani, Sailles
Jaishankar, Nilansh Keswani, Aayan Khan, Punya Mehra, Ali Naseer, Ronak Panoly,
Dhruv Parashar, Vinayak Raghavan, Soorya Sathish, Aryansh Sharma, Adithya
Shetty, Kai Smith  

Some of Darwish's last words

"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008

His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.

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Updated: August 17, 2022, 1:16 PM