A road damaged by a powerful storm and heavy rainfall in Shahhat city, Libya. Reuters
A road damaged by a powerful storm and heavy rainfall in Shahhat city, Libya. Reuters
A road damaged by a powerful storm and heavy rainfall in Shahhat city, Libya. Reuters
A road damaged by a powerful storm and heavy rainfall in Shahhat city, Libya. Reuters

UAE to send aid and rescue teams to Libya amid deadly floods


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The UAE will send urgent aid as well as search and rescue teams to Libya amid deadly floods that may have killed up to 2,000 people in the east of the country, President Sheikh Mohamed has confirmed.

The assistance will support Libya's efforts to mitigate the damage caused by flooding from Storm Daniel, according to a readout from Wam news agency.

“His Highness expressed his sincere condolences and sympathy to the State of Libya, its people and the families of the victims of this tragedy, wishing a speedy recovery for all the injured,” it said.

As many as 2,000 people are feared dead after Storm Daniel caused devastating floods that swept away entire neighbourhoods and wrecked homes in a number of coastal towns, Prime Minister Ossama Hamad, head of Libya's Tripoli-based government, said on Monday.

At least 150 people have been confirmed dead, according to the Libyan Red Crescent, which expects the death toll to rise to 250.

The reason for wildly differing estimates is unknown.

Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, sent condolences to Libya on Monday.

“May God protect Libya and its people from all harm … and maintain their security and safety,” he wrote on social media platform X, formerly known as Twitter.

“The UAE will remain beside its brothers at all times.”

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, also sent his condolences.

“Our sincere condolences to our people in Libya for the victims of the hurricane and catastrophic floods, and we ask God for a speedy recovery for those injured,” he wrote on social media platform X, formerly known as Twitter.

“May God protect Libya and its people from all harm.”

The floods deal a heavy blow to a country already mired by long-term conflict which has seen it divided under two ruling powers.

“I was able to flee with my family this morning,” Saleh Al Obaidi, a resident of the eastern city of Derna, told Reuters. He added that houses near a valley in the city had collapsed.

“People were asleep and woke up and found their homes surrounded by water.”

Entire residential blocks were erased along Wadi Derna, a river that runs down from the mountains through the city centre, AP reported.

Multi-storey apartment buildings partially collapsed into the mud, while local media reported power cuts across the city.

Essam Abu Zeriba, the interior minister of the east Libya government, said more than 5,000 people were thought to be missing in Derna. He said many of the victims were swept away towards the Mediterranean.

Destruction was also reported in Benghazi, Sousse and Al Bayda, where deaths have also been recorded.

A spokesman from the Libyan Presidential Council announced a three-day mourning period on Monday afternoon.

The UAE Foreign Ministry has also sent its condolences to Libya, while Qatar and Tunisia will also provide aid to flood-ravaged areas.

Storm Daniel wreaked havoc in Greece, where experts described the storm as a “once-in-a-millennium phenomenon”.

The Abu Dhabi Awards explained:

What are the awards? They honour anyone who has made a contribution to life in Abu Dhabi.

Are they open to only Emiratis? The awards are open to anyone, regardless of age or nationality, living anywhere in the world.

When do nominations close? The process concludes on December 31.

How do I nominate someone? Through the website.

When is the ceremony? The awards event will take place early next year.

MATCH INFO

Europa League final

Who: Marseille v Atletico Madrid
Where: Parc OL, Lyon, France
When: Wednesday, 10.45pm kick off (UAE)
TV: BeIN Sports

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The Perfect Couple

Starring: Nicole Kidman, Liev Schreiber, Jack Reynor

Creator: Jenna Lamia

Rating: 3/5

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The five pillars of Islam
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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.”

The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

Indoor cricket in a nutshell

Indoor Cricket World Cup - Sep 16-20, Insportz, Dubai

16 Indoor cricket matches are 16 overs per side

8 There are eight players per team

There have been nine Indoor Cricket World Cups for men. Australia have won every one.

5 Five runs are deducted from the score when a wickets falls

Batsmen bat in pairs, facing four overs per partnership

Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.

Zones

A Front net, behind the striker and wicketkeeper: 0 runs

B Side nets, between the striker and halfway down the pitch: 1 run

Side nets between halfway and the bowlers end: 2 runs

Back net: 4 runs on the bounce, 6 runs on the full

Islamophobia definition

A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.

HOW TO WATCH

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Sri Lanka v England

First Test, at Galle
England won by 211

Second Test, at Kandy
England won by 57 runs

Third Test, at Colombo
From Nov 23-27

Updated: September 12, 2023, 11:23 AM