Follow the latest on the earthquake in Turkey
The international community rushed to send aid to Turkey and Syria following a powerful earthquake that has left more than 6,000 people dead in the biggest natural disaster in the Middle East for decades.
The death toll is expected to rise as rescue operations continue to look for survivors and among the rubble of cities, towns and provinces in Turkey and Syria. So far, more than 8,000 people have been rescued.
The magnitude 7.8 quake hit Turkey and Syria early on Monday, toppling thousands of buildings including many apartment blocks, wrecking hospitals and leaving thousands homeless.
Below is some of the significant regional aid that has been pledged on day two of the crisis.
UAE
The UAE said on Tuesday it is sending $100 million in total to Syria and Turkey. President Sheikh Mohamed said the fund will be sent to victims of the earthquake.
Sheikh Mohamed ordered $50 million to be sent to support people in Turkey and $50 million to help those in Syria, state news agency Wam reported.
On Monday, Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, ordered humanitarian aid worth Dh50 million ($14 million) through the Mohammed bin Rashid Al Maktoum Global Initiatives to help Syrian people affected by the earthquake.
The UAE also sent seven aid flights to help with search and rescue operations in both countries to evacuate citizens, two of which will land in Damascus.
Kuwait
Kuwait sent two military planes carrying aid on Tuesday and pledged to establish an air bridge that will include rescue equipment, medical and relief aid to both countries.
The government said the aid would be sent in co-ordination with the Red Crescent, the Ministry of Health and the Kuwaiti army.
The country's General Fire Force will also be assisting with disaster relief, having assisted firefighting efforts in Turkey, Greece and North Africa in 2021, it will lend equipment and assistance to help those trapped by debris.
Saudi Arabia
Saudi Arabia’s King Salman and Crown Prince Mohammed bin Salman directed the King Salman Humanitarian Aid and Relief Centre to operate an air bridge and provide medical supplies, humanitarian relief and other logistical support to the disaster zones in both countries.
A public fundraising effort backed by the government will also be launched on the Sahem ("contribute") app, according to the Saudi Press Agency.
Jordan
On orders of King Abdullah, a Jordanian Air Force plane left the country on Tuesday and headed towards Syria and Turkey.
The foreign ministry said that the plane is carrying a team of five doctors and 99 rescuers as well as “logistical and other equipment”.
It did not give details on the exact destination of the plane, or where it will land first.
The plane was dispatched “based on royal directions to help the families of the victims' of the earthquake”, the ministry said, referring to King Abdullah's instructions.
Iraq
Iraq's security forces have been delivering emergency aid to Syria since late on Monday.
Prime Minister Mohammed Shia Al Sudani said an “air bridge” had opened to aid Syria and Turkey, sending urgent relief, including medical supplies and first aid. Iraq operates a small fleet of Hercules transport aircraft that can carry a substantial amount of aid.
Two Iraqi planes arrived in Damascus with 70 tonnes of relief supplies late on Monday.
Lebanon
The Lebanese Army said on Monday it is sending 15 engineers to Syria and 20 to Turkey to support rescue efforts.
Egypt
Egypt has pledged urgent humanitarian aid to Turkey.
President Abdel Fattah El Sisi pledged solidarity with the Turkish people and has offered assistance and humanitarian aid.
Mr El Sisi also telephoned Syrian President Bashar Al Assad on Tuesday to offer relief aid to victims of the earthquake, the Egyptian leader's office announced.
It said the President also offered his condolences to the victims of Monday's earthquake and his well wishes to the injured.
Tunisia
Tunisia said that it will be sending 14 tonnes of blankets, food and baby formula, as well as other donations gathered by the Tunisian Red Crescent, to Turkey and Syria following the earthquake.
A team of rescuers from the Tunisian civil protection force as well as volunteering doctors are also expected to head to both countries soon, according to state news agency TAP.
“Tunisia is fully ready to stand with its brothers in Syria and Turkey in this tragedy and will provide all necessary aid and assistance to overcome its repercussions,” Tunisian president Kais Saied said on the official presidency social media accounts.
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T20 WORLD CUP QUALIFIERS
Qualifier A, Muscat
(All matches to be streamed live on icc.tv)
Fixtures
Friday, February 18: 10am Oman v Nepal, Canada v Philippines; 2pm Ireland v UAE, Germany v Bahrain
Saturday, February 19: 10am Oman v Canada, Nepal v Philippines; 2pm UAE v Germany, Ireland v Bahrain
Monday, February 21: 10am Ireland v Germany, UAE v Bahrain; 2pm Nepal v Canada, Oman v Philippines
Tuesday, February 22: 2pm Semi-finals
Thursday, February 24: 2pm Final
UAE squad:Ahmed Raza(captain), Muhammad Waseem, Chirag Suri, Vriitya Aravind, Rohan Mustafa, Kashif Daud, Zahoor Khan, Alishan Sharafu, Raja Akifullah, Karthik Meiyappan, Junaid Siddique, Basil Hameed, Zafar Farid, Mohammed Boota, Mohammed Usman, Rahul Bhatia
MATCH DETAILS
Manchester United 3
Greenwood (21), Martial (33), Rashford (49)
Partizan Belgrade 0
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.”
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Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
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UFC Fight Night 2
1am – Early prelims
2am – Prelims
4am-7am – Main card
7:30am-9am – press cons
