Yemen's Houthis say six killed in US strikes on Hodeidah


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US strikes on Yemen's western province of Hodeidah killed at least six people and wounded 16 on Tuesday, the Houthis said, a day after the rebels claimed to have attacked US warships and an Israeli military site.

People living in Houthi-controlled Hodeidah city told The National that a residential area was attacked, resulting in at least two deaths. “There were three consecutive violent hits,” said one resident. “My house is in the south of the city, towards the airport. The windows of the house opened.

“The strikes were intense and one of them hit a house belonging to a friend. All her family members were injured, but no one was killed.”

Another local said the area struck was an upmarket neighbourhood of the coastal city, but parts of it have been deserted for some time and a number of houses have been taken by the Houthis.

“The Houthis have now sealed off the entire area,” the resident added.

"Yesterday was a difficult day — the hardest in a long time. We haven’t experienced strikes like that for a long time. Even the recent Israeli strikes weren’t like this," said a third resident. "My son asked me if it was an earthquake."

Houthi media quoted the rebels accusing US forces of carrying out the strikes. Al Masirah TV channel reported “deaths and wounded in the US enemy's targeting” of Hodeidah's Al Hawak district. It said civil defence teams were fighting fires at the scene and working to rescue any survivors.

Al Masirah TV broadcast footage showing people searching for survivors in Hodeidah. AFP
Al Masirah TV broadcast footage showing people searching for survivors in Hodeidah. AFP

Al Masirah also reported a US strike on the communications network in Amran province, north of Sanaa, without providing details.

Rebel-held areas of Yemen have seen near-daily strikes blamed on the US since Washington launched an air campaign against the Houthis on March 15 to force them to stop threatening vessels on key maritime routes.

Since then, the Houthis have also launched attacks on US military ships and Israel, claiming to be acting in solidarity with Palestinians in Gaza. On Monday the rebels said they targeted a military site in Israel and attacked two US destroyers in the Red Sea.

The Houthis began attacking ships transiting the Red Sea and Gulf of Aden, as well as Israeli territory, after the outbreak of the Gaza war in October 2023. They paused the attacks during a January ceasefire.

Israel cut off all supplies to Gaza at the start of March, and resumed its offensive on the Palestinian territory on March 18, ending the short-lived truce. The new US campaign followed Houthi threats to resume attacks on vessels over Israel's blockade on Gaza.

The Houthi attacks crippled the vital Red Sea route, which normally carries about 12 per cent of world shipping traffic, forcing many companies to make a much longer detour around the tip of southern Africa.

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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.”

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Tailors and retailers across the city said it was an ominous start to what is usually a busy season for sales.
With many parents opting to continue home learning for their children, the usual rush to buy school uniforms was muted this year.
“So far we have taken about 70 to 80 orders for items like shirts and trousers,” said Vikram Attrai, manager at Stallion Bespoke Tailors in Dubai.
“Last year in the same period we had about 200 orders and lots of demand.
“We custom fit uniform pieces and use materials such as cotton, wool and cashmere.
“Depending on size, a white shirt with logo is priced at about Dh100 to Dh150 and shorts, trousers, skirts and dresses cost between Dh150 to Dh250 a piece.”

A spokesman for Threads, a uniform shop based in Times Square Centre Dubai, said customer footfall had slowed down dramatically over the past few months.

“Now parents have the option to keep children doing online learning they don’t need uniforms so it has quietened down.”

Updated: April 09, 2025, 11:18 AM