Sudanese army chief Gen Abdel Fattah Al Burhan in Port Sudan. AFP
Sudanese army chief Gen Abdel Fattah Al Burhan in Port Sudan. AFP
Sudanese army chief Gen Abdel Fattah Al Burhan in Port Sudan. AFP
Sudanese army chief Gen Abdel Fattah Al Burhan in Port Sudan. AFP

Sudan's Al Burhan looks to win legitimacy war with UN general assembly visit


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Sudan's military ruler Gen Abdel Fattah Al Burhan plans to attend the UN General Assembly in New York this week, a trip seen as an attempt to cement his position as the nation's legitimate leader.

It comes at a time when his army has been embroiled in a ruinous war since April against rival paramilitary the Rapid Support Forces.

Informed Sudanese sources said on Monday that Gen Al Burhan was expected to travel to New York on Wednesday after first visiting Saudi Arabia, a regional powerhouse that has long been among his country's major financial and political backers.

Saudi Arabia also joined the US in mediating a series of ceasefires between the army and the RSF in the early stages of the war.

The ceasefires were either completely ignored or not fully observed, forcing Riyadh and Washington to suspend their mediation until the two sides showed a genuine desire to end the war.

Gen Al Burhan's visit to Saudi Arabia and New York follows trips over the past month to Egypt, Qatar, Uganda, South Sudan, Turkey and Eritrea.

He has been based in the Red Sea city of Port Sudan since last month when he slipped out of Khartoum, where he had been trapped for nearly four months in a section of the armed force's headquarters controlled by the army.

A raging fire at the Greater Nile Petroleum Oil Company Tower in Khartoum. AFP
A raging fire at the Greater Nile Petroleum Oil Company Tower in Khartoum. AFP

The foreign visits have bolstered Gen Al Burhan's position as the internationally recognised leader of Sudan, but they also drew a sharp response from his nemesis and former ally, RSF commander Gen Mohamed Dagalo, who described the army chief's claim to legitimacy as “false”.

The RSF leader also threatened to create a rival government in Khartoum if Gen Al Burhan creates one in Port Sudan, warning that this would effectively divide the vast Afro-Arab nation of 48 million.

The RSF, he boasted, could march on Port Sudan if he gave the order. The paramilitary group was in near complete control of the capital, he said.

Port Sudan is about 1,000km east of Khartoum.

The RSF has escalated its attacks on army positions in Khartoum in recent days, something that analysts believe aims to secure battlefield victories that would undermine Gen Al Burhan's international standing.

That could subsequently give the RSF a strong hand if and when peace negotiations resume.

“There is a need to create a genuine government to replace the existing administration, which is mandated to run the country's day-to-day affairs,” said retired army Maj Gen Amin Magzoub, director of the Centre for Strategic and Security Studies in Khartoum.

“The continuing absence of a genuine government will put Sudan on the road to being a failed state.”

Gen Al Burhan and Gen Dagalo jointly seized power in 2021, toppling a civilian-led government and derailing Sudan's democratic transition. No government has been named since.

“The Rapid Support Forces, on the other hand, does not have the qualified personnel to create a government and, moreover, it's intensely resented by millions because of the looting and sexual assaults blamed on its fighters since the war began,” said Maj Gen Magzoub.

Osman Al Mirghany, a prominent Sudanese analyst, said Gen Dagalo's threats to march on Port Sudan or create a government were empty. The distance to the Red Sea port city would make the RSF's supply lines impossible to secure, he added.

He also suggested that Gen Dagalo's threat to create a government in Khartoum may have been inspired in part by the Forces for Freedom and Change, a pro-democracy alliance that partnered the army in the administration the two generals toppled two years ago.

“They (the FFC) sensed that an internationally recognised government in Port Sudan will leave them out and signal their exit from the nation's political landscape,” said Mr Al Mirghany.

Many in Khartoum, including Mr Al Mirghany, believe a significant FFC faction moved closer to the RSF in the months before the start of the war when the two generals publicly bickered over the assimilation of the RSF into the armed forces.

The sides also differed on the military's place in a democratic and civilian-ruled Sudan.

Gen Mohamed Dagalo, commander of the paramilitary Rapid Support Forces, days after the war broke out on April 15. Reuters
Gen Mohamed Dagalo, commander of the paramilitary Rapid Support Forces, days after the war broke out on April 15. Reuters

“Some in the FFC see benefits in an alliance or at least close ties with the RSF, mostly because of its vast monetary and material resources,' said Mr Al Mirghany.

The RSF, whose forerunner is a notorious militia active in Darfur in the 2000s, has over the past decade evolved into a well-armed and agile force of some 100,000 fighters. It has also amassed a vast wealth from gold mining, economic ventures and sending its men to fight in Yemen as part of a Saudi-led coalition against Iran-backed Houthi rebels.

The RSF has also responded this week to Gen Al Burhan's growing international stature with renewed attacks on the armed forces' headquarters, engaging the army in fierce fighting that, residents say, left several of the city landmark towers engulfed in flames.

Sudan's Foreign Ministry on Monday blamed the RSF for the fires.

The RSF has also been throwing significant resources into its repeated attempts to capture a key military base in Khartoum – the Armoured Corps in Al Shagara district – where it made inroads last month but has been met with stiff resistance.

MANDOOB
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While you're here
THREE
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The story of Edge

Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, established Edge in 2019.

It brought together 25 state-owned and independent companies specialising in weapons systems, cyber protection and electronic warfare.

Edge has an annual revenue of $5 billion and employs more than 12,000 people.

Some of the companies include Nimr, a maker of armoured vehicles, Caracal, which manufactures guns and ammunitions company, Lahab

 

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

COMPANY%20PROFILE
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Benefits of first-time home buyers' scheme
  • Priority access to new homes from participating developers
  • Discounts on sales price of off-plan units
  • Flexible payment plans from developers
  • Mortgages with better interest rates, faster approval times and reduced fees
  • DLD registration fee can be paid through banks or credit cards at zero interest rates
Superliminal%20
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How will Gen Alpha invest?

Mark Chahwan, co-founder and chief executive of robo-advisory firm Sarwa, forecasts that Generation Alpha (born between 2010 and 2024) will start investing in their teenage years and therefore benefit from compound interest.

“Technology and education should be the main drivers to make this happen, whether it’s investing in a few clicks or their schools/parents stepping up their personal finance education skills,” he adds.

Mr Chahwan says younger generations have a higher capacity to take on risk, but for some their appetite can be more cautious because they are investing for the first time. “Schools still do not teach personal finance and stock market investing, so a lot of the learning journey can feel daunting and intimidating,” he says.

He advises millennials to not always start with an aggressive portfolio even if they can afford to take risks. “We always advise to work your way up to your risk capacity, that way you experience volatility and get used to it. Given the higher risk capacity for the younger generations, stocks are a favourite,” says Mr Chahwan.

Highlighting the role technology has played in encouraging millennials and Gen Z to invest, he says: “They were often excluded, but with lower account minimums ... a customer with $1,000 [Dh3,672] in their account has their money working for them just as hard as the portfolio of a high get-worth individual.”

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Tearful appearance

Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday. 

Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow. 

She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.

A spokesman said her upset demeanour was due to a personal matter.

War 2

Director: Ayan Mukerji

Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana

Rating: 2/5

Elvis
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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.”

F1 The Movie

Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem

Director: Joseph Kosinski

Rating: 4/5

How to become a Boglehead

Bogleheads follow simple investing philosophies to build their wealth and live better lives. Just follow these steps.

•   Spend less than you earn and save the rest. You can do this by earning more, or being frugal. Better still, do both.

•   Invest early, invest often. It takes time to grow your wealth on the stock market. The sooner you begin, the better.

•   Choose the right level of risk. Don't gamble by investing in get-rich-quick schemes or high-risk plays. Don't play it too safe, either, by leaving long-term savings in cash.

•   Diversify. Do not keep all your eggs in one basket. Spread your money between different companies, sectors, markets and asset classes such as bonds and property.

•   Keep charges low. The biggest drag on investment performance is all the charges you pay to advisers and active fund managers.

•   Keep it simple. Complexity is your enemy. You can build a balanced, diversified portfolio with just a handful of ETFs.

•   Forget timing the market. Nobody knows where share prices will go next, so don't try to second-guess them.

•   Stick with it. Do not sell up in a market crash. Use the opportunity to invest more at the lower price.

Ad Astra

Director: James Gray

Stars: Brad Pitt, Tommy Lee Jones

Five out of five stars 

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Company%20profile
%3Cp%3EName%3A%20Cashew%0D%3Cbr%3EStarted%3A%202020%0D%3Cbr%3EFounders%3A%20Ibtissam%20Ouassif%20and%20Ammar%20Afif%0D%3Cbr%3EBased%3A%20Dubai%2C%20UAE%0D%3Cbr%3EIndustry%3A%20FinTech%0D%3Cbr%3EFunding%20size%3A%20%2410m%0D%3Cbr%3EInvestors%3A%20Mashreq%2C%20others%0D%3C%2Fp%3E%0A
The President's Cake

Director: Hasan Hadi

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

Rating: 4/5

The biog

Hometown: Cairo

Age: 37

Favourite TV series: The Handmaid’s Tale, Black Mirror

Favourite anime series: Death Note, One Piece and Hellsing

Favourite book: Designing Brand Identity, Fifth Edition

Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.

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England's Ashes squad

Joe Root (captain), Moeen Ali, Jimmy Anderson, Jofra Archer, Jonny Bairstow, Stuart Broad, Rory Burns, Jos Buttler, Sam Curran, Joe Denly, Jason Roy, Ben Stokes, Olly Stone, Chris Woakes. 

If you go

Flying

Despite the extreme distance, flying to Fairbanks is relatively simple, requiring just one transfer in Seattle, which can be reached directly from Dubai with Emirates for Dh6,800 return.

 

Touring

Gondwana Ecotours’ seven-day Polar Bear Adventure starts in Fairbanks in central Alaska before visiting Kaktovik and Utqiarvik on the North Slope. Polar bear viewing is highly likely in Kaktovik, with up to five two-hour boat tours included. Prices start from Dh11,500 per person, with all local flights, meals and accommodation included; gondwanaecotours.com 

Disability on screen

Empire — neuromuscular disease myasthenia gravis; bipolar disorder; post-traumatic stress disorder (PTSD)

Rosewood and Transparent — heart issues

24: Legacy — PTSD;

Superstore and NCIS: New Orleans — wheelchair-bound

Taken and This Is Us — cancer

Trial & Error — cognitive disorder prosopagnosia (facial blindness and dyslexia)

Grey’s Anatomy — prosthetic leg

Scorpion — obsessive compulsive disorder and anxiety

Switched at Birth — deafness

One Mississippi, Wentworth and Transparent — double mastectomy

Dragons — double amputee

Updated: September 19, 2023, 10:17 AM