An F-15 fighter jet releases its payload during a graduation ceremony for air force pilots at Hatzerim Airbase in southern Israel. Reuters
An F-15 fighter jet releases its payload during a graduation ceremony for air force pilots at Hatzerim Airbase in southern Israel. Reuters
An F-15 fighter jet releases its payload during a graduation ceremony for air force pilots at Hatzerim Airbase in southern Israel. Reuters
An F-15 fighter jet releases its payload during a graduation ceremony for air force pilots at Hatzerim Airbase in southern Israel. Reuters

Damascus reports wave of Israeli air strikes near Homs


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Israeli jets launched air strikes across Syria on Sunday morning, encountering anti-aircraft missile fire and efforts by Syrian forces to shoot down Israeli missiles.

Syria said most of the missiles fired by Israeli jets had been shot down, while Israel said one missile exploded mid-air over southern Israel.

A Syrian army statement said missiles that flew over parts of Lebanon's capital Beirut had hit locations in the vicinity of the city of Homs, resulting only in material damage.

An Israeli military spokesman said Israeli warplanes targeted a Syrian air defence battery from which an anti-aircraft missile was launched towards Israel.

The warplanes also attacked other targets in the area, while no casualties were reported from the Syrian missile that exploded in mid-air, said the spokesman, Avichay Adraee.

Reuters could not immediately confirm whether the two incidents were related.

In the past, Israeli aircraft have approached Syrian airspace from the direction of Lebanon, using a tactic called “terrain masking” which involves using high ground as cover from enemy radar systems.

Israel has in recent months intensified strikes on Syrian airports and air bases to disrupt Iran's increasing use of aerial supply lines to deliver arms to allies in Syria and Lebanon, including Lebanon's Hezbollah

The Israeli strikes are part of an escalation of what has been a low-intensity conflict continuing for years with a goal of slowing Iran's growing entrenchment in Syria, Israeli military experts say.

Tehran's influence has grown in Syria since it began supporting President Bashar Al Assad in the civil war that started in 2011.

Fighters allied to Iran, including Hezbollah, now hold sway in areas in eastern, southern and northwestern Syria and in several suburbs around the capital.

Israeli analysts have dubbed this ongoing campaign the "war between the wars," saying it is intended to stop the creation, by Iran-backed groups, of a third missile and rocket front against Israel over the occupied Golan Heights, in addition to the existing missile threats presented by Hezbollah in Lebanon and Hamas and affiliated groups in Gaza.

Iran threat

Israel's ongoing campaign against Iran and its proxies comes amid heightened tensions between Israel and Iran as talks between the US, EU and Iran continue in order to reach a deal on Tehran's nuclear programme.

Few observers expect a return to the 2015 nuclear deal, the Joint Comprehensive Plan of Action (JCPOA) which allowed UN inspections of Iranian nuclear sites, in exchange for the lifting of a tough sanctions regime.

But recent backchannel talks between Iran and the US have shown signs on progress in some areas – the US has allowed Iraq to pay off debts worth $2.7 billion to Iran for gas imports, while Iran's Supreme Leader Ayatollah Ali Khamenei has said he is not opposed to compromise. Some say an informal bargain to de-escalate tensions could yet be reached.

On Saturday, Israeli Prime Minister Benjamin Netanyahu's national security adviser Tzachi Hanegbi said that progress in the talks might have paused plans to attack Iranian nuclear sites.

"We are not getting closer because the Iranians have stopped, for a while now, they are not enriching uranium to the level that in our view is the red line," Mr Hanegbi said.

"But it can happen. So we are preparing for the moment, if it comes, in which we will have to defend the people of Israel against a fanatical regime that is set on annihilating us and is armed with weapons of mass destruction."

On Sunday, Israel announced that it was expanding its fleet of F-35 fighter bombers, stealth aircraft that have been successfully used to evade Syrian air defences and could play a role in a potential Iran-Israel war. Iran, in turn, has said it will purchase Russian Su-35 fighter jets to bolster its ageing air fleet.

F1 The Movie

Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem

Director: Joseph Kosinski

Rating: 4/5

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Winners

Ballon d’Or (Men’s)
Ousmane Dembélé (Paris Saint-Germain / France)

Ballon d’Or Féminin (Women’s)
Aitana Bonmatí (Barcelona / Spain)

Kopa Trophy (Best player under 21 – Men’s)
Lamine Yamal (Barcelona / Spain)

Best Young Women’s Player
Vicky López (Barcelona / Spain)

Yashin Trophy (Best Goalkeeper – Men’s)
Gianluigi Donnarumma (Paris Saint-Germain and Manchester City / Italy)

Best Women’s Goalkeeper
Hannah Hampton (England / Aston Villa and Chelsea)

Men’s Coach of the Year
Luis Enrique (Paris Saint-Germain)

Women’s Coach of the Year
Sarina Wiegman (England)

COMPANY%20PROFILE
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THE BIO

Favourite book: ‘Purpose Driven Life’ by Rick Warren

Favourite travel destination: Switzerland

Hobbies: Travelling and following motivational speeches and speakers

Favourite place in UAE: Dubai Museum

Despacito's dominance in numbers

Released: 2017

Peak chart position: No.1 in more than 47 countries, including the United States, the United Kingdom, Australia and Lebanon

Views: 5.3 billion on YouTube

Sales: With 10 million downloads in the US, Despacito became the first Latin single to receive Diamond sales certification

Streams: 1.3 billion combined audio and video by the end of 2017, making it the biggest digital hit of the year.

Awards: 17, including Record of the Year at last year’s prestigious Latin Grammy Awards, as well as five Billboard Music Awards

COMPANY%20PROFILE
%3Cp%3ECompany%20name%3A%20Znap%3C%2Fp%3E%0A%3Cp%3EStarted%3A%202017%3C%2Fp%3E%0A%3Cp%3EFounder%3A%20Uday%20Rathod%3C%2Fp%3E%0A%3Cp%3EBased%3A%20Dubai%2C%20UAE%3C%2Fp%3E%0A%3Cp%3EIndustry%3A%20FinTech%3C%2Fp%3E%0A%3Cp%3EFunding%20size%3A%20%241m%2B%3C%2Fp%3E%0A%3Cp%3EInvestors%3A%20Family%2C%20friends%3C%2Fp%3E%0A
How to join and use Abu Dhabi’s public libraries

• There are six libraries in Abu Dhabi emirate run by the Department of Culture and Tourism, including one in Al Ain and Al Dhafra.

• Libraries are free to visit and visitors can consult books, use online resources and study there. Most are open from 8am to 8pm on weekdays, closed on Fridays and have variable hours on Saturdays, except for Qasr Al Watan which is open from 10am to 8pm every day.

• In order to borrow books, visitors must join the service by providing a passport photograph, Emirates ID and a refundable deposit of Dh400. Members can borrow five books for three weeks, all of which are renewable up to two times online.

• If users do not wish to pay the fee, they can still use the library’s electronic resources for free by simply registering on the website. Once registered, a username and password is provided, allowing remote access.

• For more information visit the library network's website.

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MATCH INFO

Uefa Champions League semi-final, first leg

Tottenham 0-1 Ajax, Tuesday

Second leg

Ajax v Tottenham, Wednesday, May 8, 11pm

Game is on BeIN Sports

How to turn your property into a holiday home
  1. Ensure decoration and styling – and portal photography – quality is high to achieve maximum rates.
  2. Research equivalent Airbnb homes in your location to ensure competitiveness.
  3. Post on all relevant platforms to reach the widest audience; whether you let personally or via an agency know your potential guest profile – aiming for the wrong demographic may leave your property empty.
  4. Factor in costs when working out if holiday letting is beneficial. The annual DCTM fee runs from Dh370 for a one-bedroom flat to Dh1,200. Tourism tax is Dh10-15 per bedroom, per night.
  5. Check your management company has a physical office, a valid DTCM licence and is licencing your property and paying tourism taxes. For transparency, regularly view your booking calendar.

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.”

Electoral College Victory

Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate. 

 

Popular Vote Tally

The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.

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How to get there

Emirates (www.emirates.com) flies directly to Hanoi, Vietnam, with fares starting from around Dh2,725 return, while Etihad (www.etihad.com) fares cost about Dh2,213 return with a stop. Chuong is 25 kilometres south of Hanoi.
 

EA Sports FC 25
From Zero

Artist: Linkin Park

Label: Warner Records

Number of tracks: 11

Rating: 4/5

Company Profile

Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million

Updated: July 02, 2023, 7:14 PM