Thousands of people fled opposition areas under regime bombing in southern Syria on Monday as forces loyal to Bashar Al Assad expanded an offensive against a rebel enclave, witnesses said.
Some families fleeing their homes in the countryside near the city of Daraa headed to the Yarmouk River Valley near the border of Jordan and Israel, they said.
The refugee flows could complicate a wider regional dimension to the conflict in southern Syria that has affected Russia’s posture in the area.
Moscow had allowed rebels to keep districts in the south outside the control of Damascus.
This contrasted with other areas in Syria in which Russia’s military intervention in 2015 restored full regime control.
A three-year “de-escalation” deal in the south, supervised by Moscow, collapsed last month, with clashes centering on the opposition district of Daraa Al Balad.
Faisal Aba Zeid, a civil opposition leader, said several hundred fighters in the city “are holding” against army and militia attempts to advance.
“We are waiting for support from the countryside,” he said by voice message from in Daraa Al Balad.
The district is part of the city of Daraa, birthplace of the 2011 revolt against five decades of Assad family rule.
A video on the official Syrian news agency website purportedly showed “army units targeting terrorist rocket launch pads in Daraa Al Balad”.
“The terrorist groups intensified in the last few days their repeated aggression against the residential areas to sabotage any peaceful solution,” the agency said.
Attacks by the regime’s military and militias allied with Iran spread significantly on Monday, with clashes reported around several villages and towns in the countryside, opposition sources in Amman said.
At least 10 people were reported killed in the southern opposition areas in the past 24 hours.
Raed Qutaifan, a resident of the town of Tafas, 10 kilometres north of Daraa, said there was “a large wave of displacement” from the town after regime shelling was reported on the nearby town of Nawa.
“People are mainly heading to areas west of Daraa all the way to the Yarmouk River,” Mr Qutaifan said in a text message.
“The regime’s army is restricted in what it can do near Jordan and Israel.”
Rebels in Daraa have resisted for four weeks a deal from Russia under which some of them would be expelled to areas near Turkey and the rest submit to the regime to avoid an attack.
Other simple ideas for sushi rice dishes
Cheat’s nigiri
This is easier to make than sushi rolls. With damp hands, form the cooled rice into small tablet shapes. Place slices of fresh, raw salmon, mackerel or trout (or smoked salmon) lightly touched with wasabi, then press, wasabi side-down, onto the rice. Serve with soy sauce and pickled ginger.
Easy omurice
This fusion dish combines Asian fried rice with a western omelette. To make, fry cooked and cooled sushi rice with chopped vegetables such as carrot and onion and lashings of sweet-tangy ketchup, then wrap in a soft egg omelette.
Deconstructed sushi salad platter
This makes a great, fuss-free sharing meal. Arrange sushi rice on a platter or board, then fill the space with all your favourite sushi ingredients (edamame beans, cooked prawns or tuna, tempura veggies, pickled ginger and chilli tofu), with a dressing or dipping sauce on the side.
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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.”
The specs
Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now
