Military bus on fire in Damascus
Military bus on fire in Damascus
Military bus on fire in Damascus
Military bus on fire in Damascus

Damascus military bus explosion kill 1, injures 3


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One person died and at least three were injured when a military bus exploded in a heavily fortified compound in Damascus on Wednesday.

The explosion occurred near the entrance of a Republican Guards housing compound in the west of the Syrian capital, state news agency Sana reported.

A source at the site of the explosion said an electrical fault set the petrol tank on fire, the agency reported.

Blasts in Damascus are rare since forces loyal to President Bashar Al Assad took control of rebel enclaves around the city.

There have been several attacks this year on army vehicles in eastern Syria by suspected ISIS militants, who still operate in the sprawling desert area.

Syria in recent days has suffered an escalation of mortar attacks on its army checkpoints in the southern province of Deraa in the biggest flare-up of violence since government forces retook the region three years ago.

Relations between locals and government officials are severely strained and there are sporadic protests and simmering anger.

Jordan closed the Jaber crossing in Syria's southern Deraa province in response, days after Jordanian and Syrian officials discussed ways to stop banditry and extortion hampering trade in the south of Syria.


The Melbourne Mercer Global Pension Index

The Melbourne Mercer Global Pension Index

Mazen Abukhater, principal and actuary at global consultancy Mercer, Middle East, says the company’s Melbourne Mercer Global Pension Index - which benchmarks 34 pension schemes across the globe to assess their adequacy, sustainability and integrity - included Saudi Arabia for the first time this year to offer a glimpse into the region.

The index highlighted fundamental issues for all 34 countries, such as a rapid ageing population and a low growth / low interest environment putting pressure on expected returns. It also highlighted the increasing popularity around the world of defined contribution schemes.

“Average life expectancy has been increasing by about three years every 10 years. Someone born in 1947 is expected to live until 85 whereas someone born in 2007 is expected to live to 103,” Mr Abukhater told the Mena Pensions Conference.

“Are our systems equipped to handle these kind of life expectancies in the future? If so many people retire at 60, they are going to be in retirement for 43 years – so we need to adapt our retirement age to our changing life expectancy.”

Saudi Arabia came in the middle of Mercer’s ranking with a score of 58.9. The report said the country's index could be raised by improving the minimum level of support for the poorest aged individuals and increasing the labour force participation rate at older ages as life expectancies rise.

Mr Abukhater said the challenges of an ageing population, increased life expectancy and some individuals relying solely on their government for financial support in their retirement years will put the system under strain.

“To relieve that pressure, governments need to consider whether it is time to switch to a defined contribution scheme so that individuals can supplement their own future with the help of government support,” he said.

Updated: August 04, 2021, 7:11 AM`