A child at Camp Roj, in north-east Syria, where relatives suspected ISIS members are held. Some 24 million Syrians, at home and abroad, depend on handouts. AFP
A child at Camp Roj, in north-east Syria, where relatives suspected ISIS members are held. Some 24 million Syrians, at home and abroad, depend on handouts. AFP
A child at Camp Roj, in north-east Syria, where relatives suspected ISIS members are held. Some 24 million Syrians, at home and abroad, depend on handouts. AFP
A child at Camp Roj, in north-east Syria, where relatives suspected ISIS members are held. Some 24 million Syrians, at home and abroad, depend on handouts. AFP

UN chief Antonio Guterres backs US call for aid flows into Syria


James Reinl
  • English
  • Arabic

UN Secretary General Antonio Guterres on Tuesday called on UN powers not to close the last remaining border checkpoint for aid flows into Syria, calling it "essential to save lives".

He urged the UN Security Council to keep the Bab Al Hawa crossing on the Turkey-Syria border open for another year, saying it was vital for the flow of food, Covid-19 vaccines and other aid.

US Secretary of State Antony Blinken on Monday said he wanted to keep Bab Al Hawa active and to reopen two other aid checkpoints that were closed after objections from veto-wielding Russia.

Moscow, an ally of Syrian President Bashar Al Assad's government, wants aid convoys in Syria to be run by Damascus and to cross front lines within the country.

"A large-scale cross-border response for an additional 12 months remains essential to save lives," Mr Guterres told a UN General Assembly event marking the 10th anniversary of the Syrian conflict.

“A failure to extend the UN’s mandate would end the UN’s Covid-19 vaccine distribution plans for millions of people in north-west Syria, and greatly diminish essential humanitarian operations.”

About 1,000 aid lorries crossed via Bab Al Hawa each month last year, bringing supplies from Turkey into Idlib province, as a lifeline for some 2.4 million people in the rebel-held north-west, the UN says.

The 15-member Security Council first allowed cross-border aid operations into Syria in 2014 at four points.

But last year, it reduced access to only the Bab Al Hawa crossing, due to opposition from Russia and China over reopening all four.

Russia used its UN veto to close checkpoints on the grounds that they violate the Damascus government's sovereignty. Moscow says aid should transit "cross-line" within Syria from government-held areas.

In a rare rebuke to a powerful UN member, Mr Guterres said the closure of Al Yarubiyah checkpoint on the Iraqi border last year had “worsened” conditions in the north-east, and the closure of Bab Al Hawa would do the same to the north-west.

"Cross-line convoys, even if deployed regularly, could not replicate the size and scope of this operation," Mr Guterres said.

“Despite significant and continuing efforts by the United Nations, we have not yet managed to create the conditions to deploy the first convoy from Damascus to north-west Syria.”

The council is set to vote on cross-border aid operations again in July.

Mr Guterres spoke as donors met at an online event co-hosted by the UN and the EU, aimed at raising more than $10 billion for aid work in Syria.

The UN seeks $4.2 billion to support the more than 13 million people in need inside Syria – a 20 per cent increase on last year – and $5.8 billion to assist refugees in Syria, Egypt, Iraq, Jordan, Lebanon and Turkey.

Covid-19 has compounded Syria's already dire economic situation.

The local currency has crashed and food prices have soared by 222 per cent from last year, pushing millions of people towards poverty and hunger.

A deal between Russia and Turkey has reduced the levels of fighting in Syria’s north-west, but the country’s humanitarian situation is worsening.

About 24 million Syrians at home and abroad need handouts – more than at any other time in the conflict.

Millions of people have left Syria and millions more have fled their homes since a crackdown by the government on protesters in March 2011 led to a multi-front civil war that has pulled in Russia, Iran, Turkey, the US and others.

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UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

UAE tour of Zimbabwe

All matches in Bulawayo
Friday, Sept 26 – UAE won by 36 runs
Sunday, Sept 28 – Second ODI
Tuesday, Sept 30 – Third ODI
Thursday, Oct 2 – Fourth ODI
Sunday, Oct 5 – First T20I
Monday, Oct 6 – Second T20I

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Ms Yang's top tips for parents new to the UAE
  1. Join parent networks
  2. Look beyond school fees
  3. Keep an open mind

Bournemouth 0

Manchester United 2
Smalling (28'), Lukaku (70')

How tumultuous protests grew
  • A fuel tax protest by French drivers appealed to wider anti-government sentiment
  • Unlike previous French demonstrations there was no trade union or organised movement involved 
  • Demonstrators responded to online petitions and flooded squares to block traffic
  • At its height there were almost 300,000 on the streets in support
  • Named after the high visibility jackets that drivers must keep in cars 
  • Clashes soon turned violent as thousands fought with police at cordons
  • An estimated two dozen people lost eyes and many others were admitted to hospital 
Tree of Hell

Starring: Raed Zeno, Hadi Awada, Dr Mohammad Abdalla

Director: Raed Zeno

Rating: 4/5

The specs

Engine: Dual 180kW and 300kW front and rear motors

Power: 480kW

Torque: 850Nm

Transmission: Single-speed automatic

Price: From Dh359,900 ($98,000)

On sale: Now

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 End of Loneliness
Benedict Wells
Translated from the German by Charlotte Collins
Sceptre

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UAE currency: the story behind the money in your pockets
While you're here
Business Insights
  • As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses. 
  • SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income. 
  • Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
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MATCH INFO

Champions League quarter-final, first leg

Tottenham Hotspur v Manchester City, Tuesday, 11pm (UAE)

Matches can be watched on BeIN Sports

Manchester United v Liverpool

Premier League, kick off 7.30pm (UAE)