Israeli soldiers stand by as a mobile artillery unit fires across the border with Lebanon. Reuters
Israeli soldiers stand by as a mobile artillery unit fires across the border with Lebanon. Reuters

One civilian killed in Israeli attacks on south Lebanon



Latest: Israeli strike kills a civilian in south Lebanon in escalation of border clashes

Live updates: Follow the latest news on Israel-Gaza

A civilian was shot in the head by an Israeli sniper on Wednesday in his car on the road near Kfarkela village, Hassan Cheet, mayor of the village and leader of its emergency medical services team, told The National.

“It is the first time the Israelis killed by shooting directly at people. They usually shoot near the village, around us, but not directly at us,” Mr Cheet said.

A second person in the car was unharmed, he said.

This brings the total number of civilians killed since the Lebanon-Israel border conflict erupted to 19, including three journalists, according to an AFP tally, as the border conflict between the two countries escalates.

A Hezbollah fighter was also killed when an Israeli shell hit his house in Markaba. A member of the Al Resala association initially told The National that the victim was a civilian. But Hezbollah later reported that the man, identified as Ibrahim Raslan, was one of its fighters.

Markaba was severely hit on Wednesday, as shown in videos shared on social media, showing rescue teams looking for victims among the rubbles.

Israeli strikes in Lebanon have killed more than 130 people – mostly Hezbollah fighters, as well as a Lebanese soldier. On Wednesday, Hezbollah announced the death of two more of its fighters.

The Israeli army said that four civilians and seven soldiers have been killed, although it does not typically share immediate numbers.

The new civilian casualties come amid escalating tension between Israel and Iran-backed Hezbollah, which has been waging a war since October 8, in support of its ally Hamas, with a stated objective of diverting the Israeli military offensive from the Gaza Strip.

Hezbollah claimed at least six attacks against Israel's military installations on Wednesday, while Israel bombed southern Lebanon all day.

The conflict has not escalated into a full-scale war, with Hezbollah showing relative restraint in its attacks, despite recent escalation from the Israeli side, both on the military and rhetorical fronts.

Prime Minister Benjamin Netanyahu's government is determined to prevent Hezbollah from maintaining its influence along the southern border, which it considers the only way to ensure Israel's own security.

“There are two ways to do that – either by diplomacy or by force,” Foreign Minister Eli Cohen said on Sunday.

On Monday, the funeral of a Hezbollah fighter killed along the border was interrupted by an Israeli air strike on a cemetery in southern Lebanon. This caused outrage in the country as funerals had been, until now, spared from fighting.

Videos circulating on social media on Wednesday showed the Israeli army bombing a house in the border village of Blida, a few metres away from a funeral of another fighter, Hassan Ibrahim, who had been killed the day before.

Kill Bill Volume 1

Director: Quentin Tarantino
Stars: Uma Thurman, David Carradine and Michael Madsen
Rating: 4.5/5

THE BIO

Family: I have three siblings, one older brother (age 25) and two younger sisters, 20 and 13 

Favourite book: Asking for my favourite book has to be one of the hardest questions. However a current favourite would be Sidewalk by Mitchell Duneier

Favourite place to travel to: Any walkable city. I also love nature and wildlife 

What do you love eating or cooking: I’m constantly in the kitchen. Ever since I changed the way I eat I enjoy choosing and creating what goes into my body. However, nothing can top home cooked food from my parents. 

Favorite place to go in the UAE: A quiet beach.

Company Profile

Company name: Namara
Started: June 2022
Founder: Mohammed Alnamara
Based: Dubai
Sector: Microfinance
Current number of staff: 16
Investment stage: Series A
Investors: Family offices

Company Profile

Name: Direct Debit System
Started: Sept 2017
Based: UAE with a subsidiary in the UK
Industry: FinTech
Funding: Undisclosed
Investors: Elaine Jones
Number of employees: 8

Specs: 2024 McLaren Artura Spider

Engine: 3.0-litre twin-turbo V6 and electric motor
Max power: 700hp at 7,500rpm
Max torque: 720Nm at 2,250rpm
Transmission: Eight-speed dual-clutch auto
0-100km/h: 3.0sec
Top speed: 330kph
Price: From Dh1.14 million ($311,000)
On sale: Now

Dengue fever symptoms
  • High fever
  • Intense pain behind your eyes
  • Severe headache
  • Muscle and joint pains
  • Nausea
  • Vomiting
  • Swollen glands
  • Rash

If symptoms occur, they usually last for two-seven days

Turkish Ladies

Various artists, Sony Music Turkey 

Essentials

The flights
Emirates flies direct from Dubai to Seattle from Dh6,755 return in economy and Dh24,775 in business class.
The cruise
UnCruise Adventures offers a variety of small-ship cruises in Alaska and around the world. A 14-day Alaska’s Inside Passage and San Juans Cruise from Seattle to Juneau or reverse costs from $4,695 (Dh17,246), including accommodation, food and most activities. Trips in 2019 start in April and run until September. 
 

UAE currency: the story behind the money in your pockets
Karwaan

Producer: Ronnie Screwvala

Director: Akarsh Khurana

Starring: Irrfan Khan, Dulquer Salmaan, Mithila Palkar

Rating: 4/5

COMPANY PROFILE

Company name: Klipit

Started: 2022

Founders: Venkat Reddy, Mohammed Al Bulooki, Bilal Merchant, Asif Ahmed, Ovais Merchant

Based: Dubai, UAE

Industry: Digital receipts, finance, blockchain

Funding: $4 million

Investors: Privately/self-funded

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.”

Company Profile

Company name: Hoopla
Date started: March 2023
Founder: Jacqueline Perrottet
Based: Dubai
Number of staff: 10
Investment stage: Pre-seed
Investment required: $500,000

COMPANY PROFILE

Name: Xpanceo

Started: 2018

Founders: Roman Axelrod, Valentyn Volkov

Based: Dubai, UAE

Industry: Smart contact lenses, augmented/virtual reality

Funding: $40 million

Investor: Opportunity Venture (Asia)

Updated: December 21, 2023, 2:20 PM

Middle East Today

The must read newsletter for the region

      By signing up, I agree to The National's privacy policy
      Middle East Today