Saudi Arabia and the US are calling on Sudan's warring sides to resume negotiations and agree a new ceasefire, the Saudi foreign ministry said on Sunday.
In a statement, the ministry said negotiators from the Sudanese army and the rival paramilitary Rapid Support Forces (RSF) were still in the Saudi port city of Jeddah, despite the suspension of the talks and the expiry of the latest ceasefire on Saturday.
The statement also called on the two sides to adhere to a declaration dated May 11 in which they pledged to protect civilians and allow humanitarian aid to reach civilians.
“We would like to emphasise the adherence of the Kingdom of Saudi Arabia and the United States of America to their commitment to the Sudanese people,” it said. “We also call on the two sides to agree to a new ceasefire that they fully implement.”
Saudi and US-sponsored negotiations in Jeddah collapsed last week when the army suspended its participation, arguing that the RSF did not respect any of its provisions. Washington and Riyadh subsequently suspended the negotiations, saying that neither of the warring sides was serious.
The US also slapped sanctions on companies associated with the army and the RSF.
The five-day truce that ended on Saturday night was the latest in a string of short-term ceasefires, none of which succeeded in bringing about a cessation of hostilities.
On Sunday, Khartoum residents reported a second consecutive day of heavy fighting, with fighters from both sides battling each other street-to-street in residential neighbourhoods in Khartoum, Omdurman and Bahri. The three are located around the confluences of the Blue and White Niles.
They said a military plane crashed in Omdurman on Sunday, a claim also made by the RSF. There was no word from the army that it had lost one of its aircraft.
The RSF posted footage of its fighters manning anti-aircraft guns while others let off celebratory gunfire from their rifles as an object in the sky above was seen engulfed by white smoke.
Sudan's seven-week conflict is rooted in the army's insistence that the RSF be integrated into the armed forces, as part of an ambitious reform plan designed to ease the military out of politics and install a civilian-led government to steer the Afro-Arab nation until elections are held.
The RSF, whose forerunner is a notorious, government-backed Darfur militia, has long been known to reject its assimilation into the army, preferring to maintain its near-complete autonomy.
The fighting that began in Khartoum on April 15 has displaced 1.2 million people within the country and forced another 400,000 to flee into neighbouring countries, primarily Egypt, Chad and South Sudan.
Egypt, which has received about half those who fled Sudan, said on Friday that it was launching a joint initiative with Qatar to support and help the Sudanese affected by the fighting, especially refugees.
The announcement followed a telephone conversation on Friday between Egyptian President Abdel Fattah El Sisi and Sheikh Tamim, the Emir of Qatar.
COMPANY%20PROFILE
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Tank warfare
Lt Gen Erik Petersen, deputy chief of programs, US Army, has argued it took a “three decade holiday” on modernising tanks.
“There clearly remains a significant armoured heavy ground manoeuvre threat in this world and maintaining a world class armoured force is absolutely vital,” the general said in London last week.
“We are developing next generation capabilities to compete with and deter adversaries to prevent opportunism or miscalculation, and, if necessary, defeat any foe decisively.”
MATCH INFO
Liverpool 2 (Van Dijk 18', 24')
Brighton 1 (Dunk 79')
Red card: Alisson (Liverpool)
Gifts exchanged
- King Charles - replica of President Eisenhower Sword
- Queen Camilla - Tiffany & Co vintage 18-carat gold, diamond and ruby flower brooch
- Donald Trump - hand-bound leather book with Declaration of Independence
- Melania Trump - personalised Anya Hindmarch handbag
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.”
Results
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INDIA'S%20TOP%20INFLUENCERS
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UAE%20SQUAD
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The specs
Engine: 4.0-litre V8
Power: 503hp at 6,000rpm
Torque: 685Nm at 2,000rpm
Transmission: 8-speed auto
Price: from Dh850,000
On sale: now
UAE currency: the story behind the money in your pockets
The specs: 2018 Nissan Altima
Price, base / as tested: Dh78,000 / Dh97,650
Engine: 2.5-litre in-line four-cylinder
Power: 182hp @ 6,000rpm
Torque: 244Nm @ 4,000rpm
Transmission: Continuously variable tranmission
Fuel consumption, combined: 7.6L / 100km
Fresh faces in UAE side
Khalifa Mubarak (24) An accomplished centre-back, the Al Nasr defender’s progress has been hampered in the past by injury. With not many options in central defence, he would bolster what can be a problem area.
Ali Salmeen (22) Has been superb at the heart of Al Wasl’s midfield these past two seasons, with the Dubai club flourishing under manager Rodolfo Arrubarrena. Would add workrate and composure to the centre of the park.
Mohammed Jamal (23) Enjoyed a stellar 2016/17 Arabian Gulf League campaign, proving integral to Al Jazira as the capital club sealed the championship for only a second time. A tenacious and disciplined central midfielder.
Khalfan Mubarak (22) One of the most exciting players in the UAE, the Al Jazira playmaker has been likened in style to Omar Abdulrahman. Has minimal international experience already, but there should be much more to come.
Jassim Yaqoub (20) Another incredibly exciting prospect, the Al Nasr winger is becoming a regular contributor at club level. Pacey, direct and with an eye for goal, he would provide the team’s attack an extra dimension.