Live updates: Follow the latest on Israel-Gaza
Mohammed Salem won the prestigious 2024 World Press Photo of the Year award on Thursday for his picture of a Palestinian woman cradling the body of her five-year-old niece in the Gaza Strip.
The picture was taken on October 17, 2023, at Nasser hospital in Khan Younis in southern Gaza, where families were searching for relatives killed during Israeli bombing of the Palestinian enclave.
Salem's winning image shows Inas Abu Maamar, 36, sobbing while holding Saly's sheet-clad body in the hospital morgue.
"Mohammed received the news of his WPP award with humility, saying that this is not a photo to celebrate but that he appreciates its recognition and the opportunity to publish it to a wider audience," Reuters' global editor for pictures and video, Rickey Rogers, said at a ceremony in Amsterdam.
"He hopes with this award that the world will become even more conscious of the human impact of war, especially on children."
Mr Rogers was standing in front of the photo at the Nieuwe Kerk in the Dutch capital.
Announcing its annual awards, the Amsterdam-based World Press Photo Foundation said it was important to recognise the dangers facing journalists covering conflicts.
It said 99 journalists and media employees had been killed covering the war between Israel and Hamas since the Palestinian militant group attacked southern Israel on October 7, and Israel responded by launching a military offensive in Gaza.
"The work of press and documentary photographers around the world is often done at high risk," said Joumana El Zein Khoury, the organisation's executive director.
"This past year, the death toll in Gaza pushed the number of journalists killed to a near-record high.
"It is important to recognise the trauma they have experienced to show the world the humanitarian impact of the war."
Salem, a Palestinian aged 39, has worked for Reuters since 2003. He also won an award in the 2010 World Press Photo competition.
The jury said Salem's 2024 winning image was "composed with care and respect, offering at once a metaphorical and literal glimpse into unimaginable loss".
"I felt the picture sums up the broader sense of what was happening in the Gaza Strip," he said when the image was first published in November.
"People were confused, running from one place to another, anxious to know the fate of their loved ones, and this woman caught my eye as she was holding the body of the little girl and refused to let go."
Women in Gaza during the conflict - in pictures
'Profoundly affecting'
Salem's wife had given birth to their child days before he took the shot.
The photograph is "profoundly affecting", said jury member Fiona Shields, head of photography at Guardian News and Media.
The jury selected the winning photos from 61,062 entries by 3,851 photographers from 130 countries.
GEO photographer Lee-Ann Olwage of South Africa won the story of the year category with images documenting dementia in Madagascar.
The long-term projects category was won by Alejandro Cegarra of Venezuela for the series The Two Walls for The New York Times/Bloomberg.
Ukrainian photographer Julia Kochetova won the open format award with War is Personal, which documented the war in her country by weaving together pictures, poetry, audio and music in documentary style.
Countries offering golden visas
UK
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Germany
Investing or establishing a business in Germany offers you a residence permit, which eventually leads to citizenship. The investment must meet an economic need and you have to have lived in Germany for five years to become a citizen.
Italy
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Switzerland
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Canada
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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.”
Five films to watch
Castle in the Sky (1986)
Grave of the Fireflies (1988)
Only Yesterday (1991)
Pom Poki (1994)
The Tale of Princess Kaguya (2013)
How Beautiful this world is!
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
Paltan
Producer: JP Films, Zee Studios
Director: JP Dutta
Cast: Jackie Shroff, Sonu Sood, Arjun Rampal, Siddhanth Kapoor, Luv Sinha and Harshvardhan Rane
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Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
The President's Cake
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Messi at the Copa America
2007 – lost 3-0 to Brazil in the final
2011 – lost to Uruguay on penalties in the quarter-finals
2015 – lost to Chile on penalties in the final
2016 – lost to Chile on penalties in the final
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Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Know before you go
- Jebel Akhdar is a two-hour drive from Muscat airport or a six-hour drive from Dubai. It’s impossible to visit by car unless you have a 4x4. Phone ahead to the hotel to arrange a transfer.
- If you’re driving, make sure your insurance covers Oman.
- By air: Budget airlines Air Arabia, Flydubai and SalamAir offer direct routes to Muscat from the UAE.
- Tourists from the Emirates (UAE nationals not included) must apply for an Omani visa online before arrival at evisa.rop.gov.om. The process typically takes several days.
- Flash floods are probable due to the terrain and a lack of drainage. Always check the weather before venturing into any canyons or other remote areas and identify a plan of escape that includes high ground, shelter and parking where your car won’t be overtaken by sudden downpours.
Paatal Lok season two
Directors: Avinash Arun, Prosit Roy
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What is a robo-adviser?
Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.
These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.
Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.
Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.
