Live updates: Follow the latest on Israel-Gaza
A civilian and a Lebanese soldier were killed on Tuesday when Israeli shelling hit a poultry farm and a military outpost in a marked escalation of conflict along the Lebanon-Israel border.
It was the first Lebanese army casualty since the border conflict between Israel and armed groups led by Hezbollah erupted on October 8.
Three other soldiers were wounded, according to Lebanon's National News Agency.
Hezbollah and allied armed groups have waged the border conflict from southern Lebanon in an attempt to divert Israel from its assault on the besieged Gaza Strip, which was a retaliation for Hamas's attack in southern Israel on October 7.
But the Lebanese Army is not party to the fighting.
The Syrian farm worker was killed in an Israeli artillery attack on the poultry farm near the southern Lebanese town of Arnoun later on Tuesday evening. Two of his family members were injured.
Syrian farm labourers in Lebanon often live where they work, which has left them especially vulnerable to attacks by Israel near the border, where there is much farmland.
The poultry farm was about 6km from the border.
Israel has struck deeper into Lebanon in recent weeks, as the border conflict continues to escalate.
The Lebanese Army said a military centre in the town of Odaisseh was “bombed by the Israeli enemy, which led to the martyrdom of a soldier and the injury of three others, who were transferred to a hospital for treatment”.
The three were being treated at Tebnin Hospital, a staff member told The National.
Renewed violence at the Lebanon-Israel frontier has erupted after a week-long temporary truce between Hamas and Israel ended on Friday.
The temporary pause in fighting had been generally followed on the Lebanese front.
Hezbollah claimed at least 13 attacks on Tuesday against Israel “in support of the Palestinian people in Gaza”.
The group said all were direct hits and inflicted casualties.
Meanwhile, there were reports of intense Israeli bombings near several border towns in southern Lebanon including Yarine, Dhayra, Alma Al Shaab, Al Naqoura, Kfar Shouba, Hebbariyeh, Ayta Chaab, Tair Harfa, Al Jabain, Mhaibib, Beit lif and Meis Al Jabal.
"It is one of the worse day in a while, there has been constant shelling since the morning," a resident of Alma Shaab told The National.
In Dhayra, residents told The National that Israel used white phosphorus shells to bomb the outskirts of the village.
The clashes have killed 101 people in Lebanon, at least 77 of them Hezbollah fighters and 15 civilians, including three journalists.
Israel said that six Israeli soldiers and three civilians have been killed.
Lebanese caretaker Prime Minister Najib Mikati said on Tuesday that his intention "over the next three months is to create a kind of permanent stability at the border".
"It's a difficult task, but I have international guarantees to facilitate the process and achieve the solution we want," Mr Mikati said.
He praised Hezbollah's "restraint and wisdom," while repeating that his "main concern at the moment is to avoid, as much as possible, Lebanon being dragged into the war"
.
KINGDOM%20OF%20THE%20PLANET%20OF%20THE%20APES
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Wes%20Ball%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Owen%20Teague%2C%20Freya%20Allen%2C%20Kevin%20Durand%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E3.5%2F5%3C%2Fp%3E%0A
Classification of skills
A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation.
A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.
The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000.
Leap of Faith
Michael J Mazarr
Public Affairs
Dh67
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.”
How to donate
Text the following numbers:
2289 - Dh10
6025 - Dh 20
2252 - Dh 50
2208 - Dh 100
6020 - Dh 200
*numbers work for both Etisalat and du
SPECS
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2-litre%204-cylinder%20petrol%20(V%20Class)%3B%20electric%20motor%20with%2060kW%20or%2090kW%20powerpack%20(EQV)%0D%3Cbr%3E%3Cstrong%3EPower%3A%3C%2Fstrong%3E%20233hp%20(V%20Class%2C%20best%20option)%3B%20204hp%20(EQV%2C%20best%20option)%0D%3Cbr%3E%3Cstrong%3ETorque%3A%3C%2Fstrong%3E%20350Nm%20(V%20Class%2C%20best%20option)%3B%20TBA%20(EQV)%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3EMid-2024%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3ETBA%0D%3C%2Fp%3E%0A