• Smoke rises as displaced Palestinians take shelter at Al Shifa hospital. Reuters
    Smoke rises as displaced Palestinians take shelter at Al Shifa hospital. Reuters
  • A Palestinian girl wounded in Israeli strikes waits for treatment at Al Shifa hospital, in Gaza city. Reuters
    A Palestinian girl wounded in Israeli strikes waits for treatment at Al Shifa hospital, in Gaza city. Reuters
  • Flames rage in a field near the border village of Burj Al-Mamluk, in southern Lebanon's Khiam plain, after an Israeli bombardment. AFP
    Flames rage in a field near the border village of Burj Al-Mamluk, in southern Lebanon's Khiam plain, after an Israeli bombardment. AFP
  • Smoke rises after air strikes during direct combat between the Israeli army and Hamas, near the beach road in Gaza city. EPA
    Smoke rises after air strikes during direct combat between the Israeli army and Hamas, near the beach road in Gaza city. EPA
  • Palestinians from the Gaza Strip, looking for safety, camp on the grounds of Al Nasser Hospital in Khan Younis in the southern Gaza Strip. AFP
    Palestinians from the Gaza Strip, looking for safety, camp on the grounds of Al Nasser Hospital in Khan Younis in the southern Gaza Strip. AFP
  • People search through buildings, destroyed during Israeli air strikes in Khan Younis, Gaza. Getty Images
    People search through buildings, destroyed during Israeli air strikes in Khan Younis, Gaza. Getty Images
  • Israeli troops during operations in northern Gaza. AFP
    Israeli troops during operations in northern Gaza. AFP
  • A photo taken from the Israeli side of the border with Gaza shows the continued Israeli bombardment of the northern Gaza Strip. AFP
    A photo taken from the Israeli side of the border with Gaza shows the continued Israeli bombardment of the northern Gaza Strip. AFP
  • Palestinian men pray over the bodies of members of the Abu Taim family before burial in Khan Younis. AFP
    Palestinian men pray over the bodies of members of the Abu Taim family before burial in Khan Younis. AFP
  • Israeli soldiers stand amid rubble during the ground invasion against Palestinian militant group Hamas, in the northern Gaza Strip. Reuters
    Israeli soldiers stand amid rubble during the ground invasion against Palestinian militant group Hamas, in the northern Gaza Strip. Reuters
  • A woman and two children evacuated from Gaza walk on the tarmac at the Baza 90 air force base in Otopeni, Romania, after arriving from Egypt. AP
    A woman and two children evacuated from Gaza walk on the tarmac at the Baza 90 air force base in Otopeni, Romania, after arriving from Egypt. AP
  • Gazans inspect the Khaled bin Al-Walid Mosque, which was destroyed during Israeli air raids in Khan Younis. Getty Images
    Gazans inspect the Khaled bin Al-Walid Mosque, which was destroyed during Israeli air raids in Khan Younis. Getty Images
  • Residents flee from Al Shatea refugee camp during combat between the Israeli army and Hamas in Gaza city. EPA
    Residents flee from Al Shatea refugee camp during combat between the Israeli army and Hamas in Gaza city. EPA
  • An artillery unit moves near the border with Lebanon, in Tel Aviv, Israel. Getty Images
    An artillery unit moves near the border with Lebanon, in Tel Aviv, Israel. Getty Images
  • Smoke rises during direct combat between the Israeli army and militants of the Ezz Al-Din Al Qassam militia, the military wing of the Hamas movement, at the beach road in west-centre Gaza City, 08 November 2023. More than 10,000 Palestinians and at least 1,400 Israelis have been killed, according to the Israel Defense Forces (IDF) and the Palestinian health authority, since Hamas militants launched an attack against Israel from the Gaza Strip on 07 October, and the Israeli operations in Gaza and the West Bank which followed it. EPA / MOHAMMED SABER
    Smoke rises during direct combat between the Israeli army and militants of the Ezz Al-Din Al Qassam militia, the military wing of the Hamas movement, at the beach road in west-centre Gaza City, 08 November 2023. More than 10,000 Palestinians and at least 1,400 Israelis have been killed, according to the Israel Defense Forces (IDF) and the Palestinian health authority, since Hamas militants launched an attack against Israel from the Gaza Strip on 07 October, and the Israeli operations in Gaza and the West Bank which followed it. EPA / MOHAMMED SABER
  • People search for survivors and bodies after a building was hit by Israeli bombing in Khan Younis in the southern Gaza Strip. AFP
    People search for survivors and bodies after a building was hit by Israeli bombing in Khan Younis in the southern Gaza Strip. AFP
  • A boy learns his father has been killed in an Israeli air strike at a hospital in Khan Younis. Reuters
    A boy learns his father has been killed in an Israeli air strike at a hospital in Khan Younis. Reuters
  • Israeli soldiers training in the upper Galilee region, near the border with Lebanon. AFP
    Israeli soldiers training in the upper Galilee region, near the border with Lebanon. AFP
  • Destruction in the northern Gaza Strip, as seen from Sderot in southern Israel. Reuters
    Destruction in the northern Gaza Strip, as seen from Sderot in southern Israel. Reuters
  • A girl looks on as bodies of Palestinians killed in Israeli strikes are laid out at Nasser Hospital in Khan Younis. Reuters
    A girl looks on as bodies of Palestinians killed in Israeli strikes are laid out at Nasser Hospital in Khan Younis. Reuters
  • Mourners pray next to the bodies of members of the Daher family, who were killed by Israel strikes, at the Indonesian Hospital in the northern Gaza Strip. Reuters
    Mourners pray next to the bodies of members of the Daher family, who were killed by Israel strikes, at the Indonesian Hospital in the northern Gaza Strip. Reuters
  • A satellite image shows the Rafah border crossing between Gaza and Egypt. Reuters
    A satellite image shows the Rafah border crossing between Gaza and Egypt. Reuters
  • People search through the rubble of buildings destroyed during Israeli air raids in Khan Younis. Getty Images
    People search through the rubble of buildings destroyed during Israeli air raids in Khan Younis. Getty Images
  • Smoke rises over the northern Gaza Strip, as seen from Sderot. Reuters
    Smoke rises over the northern Gaza Strip, as seen from Sderot. Reuters
  • An ambulance transporting injured Palestinians to Egyptian hospitals for treatment waits on the Gaza side of the Rafah crossing. Reuters
    An ambulance transporting injured Palestinians to Egyptian hospitals for treatment waits on the Gaza side of the Rafah crossing. Reuters
  • Palestinian doctor Mohammad Abu Namoos, who chose to stay in Gaza to treat patients, says goodbye to his family before they leave. Reuters
    Palestinian doctor Mohammad Abu Namoos, who chose to stay in Gaza to treat patients, says goodbye to his family before they leave. Reuters
  • The funeral of three children and their grandmother killed in an Israeli air strike in Blida, Lebanon. EPA
    The funeral of three children and their grandmother killed in an Israeli air strike in Blida, Lebanon. EPA
  • Palestinian children denouncing the killing of children in Gaza by waving banners and flags during a sit-in protest at the Shatila refugee camp in Beirut. AFP
    Palestinian children denouncing the killing of children in Gaza by waving banners and flags during a sit-in protest at the Shatila refugee camp in Beirut. AFP
  • Men pray during a rally in support of Palestinians outside Barclays Centre in Brooklyn, New York. AFP
    Men pray during a rally in support of Palestinians outside Barclays Centre in Brooklyn, New York. AFP
  • A teddy bear symbolising hostages and missing children is placed on a bench in Tel Aviv, as people gather for a vigil to mark the one-month anniversary of the October 7 attack by Hamas militants on Israel. Reuters
    A teddy bear symbolising hostages and missing children is placed on a bench in Tel Aviv, as people gather for a vigil to mark the one-month anniversary of the October 7 attack by Hamas militants on Israel. Reuters
  • A survivor of the Nova Festival attack, May Hayat, takes cover as rocket sirens sound, during her first visit to the scene of the attack, near Re'im, Israel. Reuters
    A survivor of the Nova Festival attack, May Hayat, takes cover as rocket sirens sound, during her first visit to the scene of the attack, near Re'im, Israel. Reuters
  • Palestinians flee Gaza city to the southern Gaza Strip on Salah al-Din street in Bureij. AP
    Palestinians flee Gaza city to the southern Gaza Strip on Salah al-Din street in Bureij. AP
  • A satellite picture showing the Rafah border crossing to Egypt. AFP
    A satellite picture showing the Rafah border crossing to Egypt. AFP
  • People gather in Tel Aviv for a candlelit vigil to mark the one-month anniversary of the October 7 deadly attack by Hamas militants on Israel. Reuters
    People gather in Tel Aviv for a candlelit vigil to mark the one-month anniversary of the October 7 deadly attack by Hamas militants on Israel. Reuters
  • Doris Liber, whose son Guy Iluz is being held hostage in Gaza, during a press conference with House Republicans at the Capitol in Washington. AP
    Doris Liber, whose son Guy Iluz is being held hostage in Gaza, during a press conference with House Republicans at the Capitol in Washington. AP
  • Palestinians flee to the southern Gaza Strip on Salah al-Din Street in Bureij. AP
    Palestinians flee to the southern Gaza Strip on Salah al-Din Street in Bureij. AP
  • Mourners attend the funeral of four Palestinians killed by Israeli troops at Tulkarm refugee camp, in the occupied West Bank. EPA
    Mourners attend the funeral of four Palestinians killed by Israeli troops at Tulkarm refugee camp, in the occupied West Bank. EPA

Street battles rage in Gaza as Hamas uses tunnel network to ambush Israeli forces


  • English
  • Arabic

Live updates: Follow the latest news on Israel-Gaza

Street battles raged in Gaza city as Israeli tanks met heavy resistance from Hamas fighters, who were staging ambushes using their network of underground tunnels.

The Israeli military said its troops had advanced into the heart of Gaza city but the Palestinian militant group said its fighters had inflicted heavy losses.

The armed wing of Hamas released a video on Wednesday that appeared to show intense street battles alongside bombed out buildings in Gaza city.

Sources with Iran-backed Hamas and their allied Islamic Jihad militant group told Reuters that Hamas fighters were using the tunnels to attack Israeli forces.

Israel struck Gaza in response to a cross-border Hamas raid on southern Israel on October 7 in which gunmen killed 1,400 people, mostly civilians, and took about 240 hostages, according to Israeli tallies.

Palestinian officials said 10,569 people had been killed as of Wednesday, 40 per cent of them children. Israel says 33 of its soldiers have been killed.

Six people were killed while others were injured after Israeli missiles struck a house in Khan Younis, in the southern Gaza Strip overnight, the Palestinian Interior Ministry said on Thursday.

The US said on Wednesday that a postwar Gaza must be governed by Palestinians after Israeli said it would control security in the enclave indefinitely.

Leaders in Washington have begun discussions with Israeli and Arab leaders over a future for the Gaza Strip without Hamas rule.

“No reoccupation of Gaza after the conflict ends,” US Secretary of State Antony Blinken said on Wednesday at a press conference in Tokyo.

He said there may be a need for “some transition period” at the end of the conflict but post-crisis governance “must include Palestinian-led governance and Gaza unified with the West Bank under the Palestinian Authority.”

On Monday, Israel's Prime Minister Benjamin Netanyahu told ABC News that Israel would, “for an indefinite period”, have security responsibility for the enclave after the war.

Chief Israeli military spokesman Admiral Daniel Hagari said on Wednesday that Hamas had lost control in the north of Gaza.

Israel's combat engineers were using explosive devices to destroy Hamas' tunnel network that stretches for hundreds of kilometres beneath Gaza, he said. The military said it had destroyed 130 tunnel shafts so far.

Israel has blamed Hamas for civilian deaths in Gaza, saying that it is using Gazans as human shields and hiding arms and operations centres in residential areas.

Israeli troops took foreign reporters to the edges of Gaza city on Wednesday.

Gaza health collapse

The Gaza Strip is at an increased risk of disease spreading due to Israeli air strikes that have disrupted the health system and access to clean water, and caused people to crowd in shelters, the World Health Organisation warned on Wednesday.

“As deaths and injuries in Gaza continue to rise due to intensified hostilities, intense overcrowding and disrupted health, water and sanitation systems pose an added danger – the rapid spread of infectious diseases,” the WHO said.

“Some worrying trends are already emerging.”

It said that the lack of fuel in the densely populated enclave had caused desalination plants to shut down, which increased the risk of bacterial infections such as diarrhoea spreading.

The WHO said that more than 33,551 cases of diarrhoea had been reported since mid-October, most of which were among children under the age of five.

The lack of fuel has also disrupted the collection of solid waste, which the WHO said created an “environment conducive to the rapid and widespread proliferation of insects and rodents that can carry and transit diseases”.

It said that it was “almost impossible” for health centres to maintain basic infection prevention measures, increasing the risk of infection caused by trauma, surgery and childbirth.

“Disrupted routine vaccination activities, as well as lack of medicines for treating communicable diseases, further increase the risk of accelerated disease spread,” the WHO said.

Additional reporting by Reuters

Results

5pm: Warsan Lake – Maiden (PA) Dh80,000 (Turf) 2,200m; Winner: Dhaw Al Reef, Sam Hitchcott (jockey), Abdallah Al Hammadi (trainer) 

5.30pm: Al Quadra Lake – Maiden (PA) Dh80,000 (T) 1,600m; Winner: Mrouwah Al Gharbia, Sando Paiva, Abubakar Daud 

6pm: Hatta Lake – Handicap (PA) Dh80,000 (T) 1,600m; Winner: AF Yatroq, George Buckell, Ernst Oertel 

6.30pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 1,600m; Winner: Ashton Tourettes, Adries de Vries, Ibrahim Aseel 

7pm: Abu Dhabi Championship – Listed (PA) Dh180,000 (T) 1,600m; Winner: Bahar Muscat, Antonio Fresu, Ibrahim Al Hadhrami 

7.30pm: Zakher Lake – Rated Conditions (TB) Dh80,000 (T) 1,400m; Winner: Alfareeq, Dane O’Neill, Musabah Al Muhairi.  

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

WHEN TO GO:

September to November or March to May; this is when visitors are most likely to see what they’ve come for.

WHERE TO STAY:

Meghauli Serai, A Taj Safari - Chitwan National Park resort (tajhotels.com) is a one-hour drive from Bharatpur Airport with stays costing from Dh1,396 per night, including taxes and breakfast. Return airport transfers cost from Dh661.

HOW TO GET THERE:

Etihad Airways regularly flies from Abu Dhabi to Kathmandu from around Dh1,500 per person return, including taxes. Buddha Air (buddhaair.com) and Yeti Airlines (yetiairlines.com) fly from Kathmandu to Bharatpur several times a day from about Dh660 return and the flight takes just 20 minutes. Driving is possible but the roads are hilly which means it will take you five or six hours to travel 148 kilometres.

ALRAWABI%20SCHOOL%20FOR%20GIRLS
%3Cp%3ECreator%3A%20Tima%20Shomali%3C%2Fp%3E%0A%3Cp%3EStarring%3A%C2%A0Tara%20Abboud%2C%C2%A0Kira%20Yaghnam%2C%20Tara%20Atalla%3C%2Fp%3E%0A%3Cp%3ERating%3A%204%2F5%3C%2Fp%3E%0A
Gully Boy

Director: Zoya Akhtar
Producer: Excel Entertainment & Tiger Baby
Cast: Ranveer Singh, Alia Bhatt, Kalki Koechlin, Siddhant Chaturvedi​​​​​​​
Rating: 4/5 stars

The biog

Name: Abeer Al Bah

Born: 1972

Husband: Emirati lawyer Salem Bin Sahoo, since 1992

Children: Soud, born 1993, lawyer; Obaid, born 1994, deceased; four other boys and one girl, three months old

Education: BA in Elementary Education, worked for five years in a Dubai school

 

How has net migration to UK changed?

The figure was broadly flat immediately before the Covid-19 pandemic, standing at 216,000 in the year to June 2018 and 224,000 in the year to June 2019.

It then dropped to an estimated 111,000 in the year to June 2020 when restrictions introduced during the pandemic limited travel and movement.

The total rose to 254,000 in the year to June 2021, followed by steep jumps to 634,000 in the year to June 2022 and 906,000 in the year to June 2023.

The latest available figure of 728,000 for the 12 months to June 2024 suggests levels are starting to decrease.

Dengue%20fever%20symptoms
%3Cul%3E%0A%3Cli%3EHigh%20fever%3C%2Fli%3E%0A%3Cli%3EIntense%20pain%20behind%20your%20eyes%3C%2Fli%3E%0A%3Cli%3ESevere%20headache%3C%2Fli%3E%0A%3Cli%3EMuscle%20and%20joint%20pains%3C%2Fli%3E%0A%3Cli%3ENausea%3C%2Fli%3E%0A%3Cli%3EVomiting%3C%2Fli%3E%0A%3Cli%3ESwollen%20glands%3C%2Fli%3E%0A%3Cli%3ERash%3C%2Fli%3E%0A%3C%2Ful%3E%0A%3Cp%3EIf%20symptoms%20occur%2C%20they%20usually%20last%20for%20two-seven%20days%3C%2Fp%3E%0A
Museum of the Future in numbers
  •  78 metres is the height of the museum
  •  30,000 square metres is its total area
  •  17,000 square metres is the length of the stainless steel facade
  •  14 kilometres is the length of LED lights used on the facade
  •  1,024 individual pieces make up the exterior 
  •  7 floors in all, with one for administrative offices
  •  2,400 diagonally intersecting steel members frame the torus shape
  •  100 species of trees and plants dot the gardens
  •  Dh145 is the price of a ticket
BUNDESLIGA FIXTURES

Friday (all kick-offs UAE time)

Hertha Berlin v Union Berlin (10.30pm)

Saturday

Freiburg v Werder Bremen (5.30pm)

Paderborn v Hoffenheim (5.30pm)

Wolfsburg v Borussia Dortmund (5.30pm)

Borussia Monchengladbach v Bayer Leverkusen (5.30pm)

Bayern Munich v Eintracht Frankfurt (5.30pm)

Sunday

Schalke v Augsburg (3.30pm)

Mainz v RB Leipzig (5.30pm)

Cologne v Fortuna Dusseldorf (8pm)

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EElmawkaa%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Hub71%2C%20Abu%20Dhabi%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Ebrahem%20Anwar%2C%20Mahmoud%20Habib%20and%20Mohamed%20Thabet%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20PropTech%3Cbr%3E%3Cstrong%3ETotal%20funding%3A%3C%2Fstrong%3E%20%24400%2C000%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3E500%20Startups%2C%20Flat6Labs%20and%20angel%20investors%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%2012%3Cbr%3E%3C%2Fp%3E%0A

War

Director: Siddharth Anand

Cast: Hrithik Roshan, Tiger Shroff, Ashutosh Rana, Vaani Kapoor

Rating: Two out of five stars 

WWE Super ShowDown results

Seth Rollins beat Baron Corbin to retain his WWE Universal title

Finn Balor defeated Andrade to stay WWE Intercontinental Championship

Shane McMahon defeated Roman Reigns

Lars Sullivan won by disqualification against Lucha House Party

Randy Orton beats Triple H

Braun Strowman beats Bobby Lashley

Kofi Kingston wins against Dolph Zigggler to retain the WWE World Heavyweight Championship

Mansoor Al Shehail won the 50-man Battle Royal

The Undertaker beat Goldberg

 

GIANT REVIEW

Starring: Amir El-Masry, Pierce Brosnan

Director: Athale

Rating: 4/5

The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3ETwin-turbo%2C%20V8%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E8-speed%20automatic%20and%20manual%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E503%20bhp%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E513Nm%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3Efrom%20Dh646%2C800%20(%24176%2C095)%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3Enow%3C%2Fp%3E%0A
WTL%20SCHEDULE
%3Cp%3EDECEMBER%2019%20(6pm)%0D%3Cbr%3EKites%20v%20Eagles%0D%3Cbr%3EAliassime%20v%20Kyrgios%0D%3Cbr%3ESwiatek%20v%20Garcia%0D%3Cbr%3EEntertainment%3A%20Tiesto%3C%2Fp%3E%0A%3Cp%3EDECEMBER%2020%20(6pm)%0D%3Cbr%3EFalcons%20v%20Hawks%0D%3Cbr%3EDjokovic%20v%20Zverev%0D%3Cbr%3ESabalenka%20v%20Rybakina%0D%3Cbr%3EEntertainment%3A%20Wizkid%0D%3Cbr%3E%0D%3Cbr%3EDECEMBER%2021%20(6pm)%0D%3Cbr%3EFalcons%20v%20Eagles%0D%3Cbr%3EDjokovic%20v%20Kyrgios%0D%3Cbr%3EBadosa%20v%20Garcia%0D%3Cbr%3EEntertainment%3A%20Ne-Yo%0D%3Cbr%3E%0D%3Cbr%3EDECEMBER%2022%20(6pm)%0D%3Cbr%3EHawks%20v%20Kites%0D%3Cbr%3EThiem%20v%20Aliassime%0D%3Cbr%3EKontaveit%20v%20Swiatek%0D%3Cbr%3EEntertainment%3A%20deadmau5%0D%3Cbr%3E%0D%3Cbr%3EDECEMBER%2023%20(2pm)%0D%3Cbr%3EEagles%20v%20Hawks%0D%3Cbr%3EKyrgios%20v%20Zverev%0D%3Cbr%3EGarcia%20v%20Rybakina%0D%3Cbr%3EEntertainment%3A%20Mohammed%20Ramadan%0D%3Cbr%3E%0D%3Cbr%3EDECEMBER%2023%20(6pm)%0D%3Cbr%3EFalcons%20v%20Kites%0D%3Cbr%3EDjokovic%20v%20Aliassime%0D%3Cbr%3ESabalenka%20v%20Swiatek%0D%3Cbr%3EEntertainment%3A%20Mohammed%20Ramadan%0D%3Cbr%3E%0D%3Cbr%3EDECEMBER%2024%20(6pm)%0D%3Cbr%3EFinals%0D%3Cbr%3EEntertainment%3A%20Armin%20Van%20Buuren%0D%3Cbr%3E%0D%3C%2Fp%3E%0A
THREE
%3Cp%3EDirector%3A%20Nayla%20Al%20Khaja%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Jefferson%20Hall%2C%20Faten%20Ahmed%2C%20Noura%20Alabed%2C%20Saud%20Alzarooni%3C%2Fp%3E%0A%3Cp%3ERating%3A%203.5%2F5%3C%2Fp%3E%0A

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.”

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 keep control of your emotions

If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.

Greed

Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.

Tip: Ignore the short-term hype, noise and froth and invest for the long-term plan, based on sound fundamentals.

Fear

The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.

Tip: Start with a plan, and stick to it. For added security, consider placing stops to reduce any losses and limits to lock in profits.

Hope

While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.

Tip: Set realistic goals. Be happy with what you have earned, rather than frustrated by what you could have earned.

Frustration

Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.

Tip: Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.

Boredom

Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.

Tip: Open an online demo account and get your thrills without risking real money.

How to watch Ireland v Pakistan in UAE

When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.

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

Russia's Muslim Heartlands

Dominic Rubin, Oxford

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Director: Christopher McQuarrie

Starring: Tom Cruise, Hayley Atwell, Simon Pegg

Rating: 4/5

If you go

The flights
Emirates and Etihad fly direct to Nairobi, with fares starting from Dh1,695. The resort can be reached from Nairobi via a 35-minute flight from Wilson Airport or Jomo Kenyatta International Airport, or by road, which takes at least three hours.

The rooms
Rooms at Fairmont Mount Kenya range from Dh1,870 per night for a deluxe room to Dh11,000 per night for the William Holden Cottage.

The specs

Engine: 3.9-litre twin-turbo V8
Power: 620hp from 5,750-7,500rpm
Torque: 760Nm from 3,000-5,750rpm
Transmission: Eight-speed dual-clutch auto
On sale: Now
Price: From Dh1.05 million ($286,000)

Tickets

Tickets for the 2019 Asian Cup are available online, via www.asiancup2019.com

Groom and Two Brides

Director: Elie Semaan

Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

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Skoda Superb Specs

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Updated: November 09, 2023, 5:28 AM