Sudanese flee from Khartoum in a vehicle carrying their belongings. AFP
Sudanese flee from Khartoum in a vehicle carrying their belongings. AFP
Sudanese flee from Khartoum in a vehicle carrying their belongings. AFP
Sudanese flee from Khartoum in a vehicle carrying their belongings. AFP

Sudan's warring sides have no political will to end conflict, US says


Mina Aldroubi
  • English
  • Arabic

Sudan's warring sides have no “political will” to resolve the devastating conflict, the US said on Friday, as the war continues to intensify across the country.

“The two parties to the conflict in Sudan have no political will, but diplomacy is the only solution to the conflict, not fighting,” said Hala Ghrait, regional spokeswoman for the US Department of State.

“We are working with Saudi Arabia and the African and European unions to find a solution in Sudan.”

She added that a civilian government must be formed.

The war that erupted on April 15 has pitted Sudan's army against the paramilitary Rapid Support Forces, which balked at integration into the main armed forces as part of plans for a transition to civilian rule.

Fighting has been concentrated in the capital Khartoum and the western region of Darfur.

Ms Ghrait's statements came after White House National Security Council spokesman John Kirby said the situation in Sudan still poses a threat to civilians, describing the events there as “unacceptable”.

International aid agencies have said the conflict has resulted in a surge in cases of sexual assault and abduction of women and girls, some as young as 12.

Teenage girls are being sexually assaulted by armed combatants in “alarming numbers”, Save the Children said in a statement on Friday, while the UN reported a “marked increase” in gender-based violence.

While dozens of cases of rape during the conflict have been verified, the Sudanese government's Combating Violence against Women unit estimates that figure may represent only 2 per cent of the total.

“We know that the official numbers are only the tip of the iceberg. Children as young as 12 are being targeted for their gender, for their ethnicity, for their vulnerability,” Save the Children's Sudan director Arif Noor said in a statement.

Some parents are marrying off their daughters at a young age to try to protect them from further abuse, he added.

Brief scores

Toss India, chose to bat

India 281-7 in 50 ov (Pandya 83, Dhoni 79; Coulter-Nile 3-44)

Australia 137-9 in 21 ov (Maxwell 39, Warner 25; Chahal 3-30)

India won by 26 runs on Duckworth-Lewis Method

Brief scoreline:

Liverpool 2

Keita 5', Firmino 26'

Porto 0

Match info

Uefa Champions League Group B

Barcelona v Tottenham Hotspur, midnight

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.”

Match info

What: Fifa Club World Cup play-off
Who: Al Ain v Team Wellington
Where: Hazza bin Zayed Stadium, Al Ain
When: Wednesday, kick off 7.30pm

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How to apply for a drone permit
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Various Artists 
Habibi Funk: An Eclectic Selection Of Music From The Arab World (Habibi Funk)
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'Champions'

Director: Manuel Calvo
Stars: Yassir Al Saggaf and Fatima Al Banawi
Rating: 2/5
 

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Updated: July 07, 2023, 6:05 PM