With more than a year of upheaval for Sundanese citizens, about 750,000 are facing starvation. AFP
With more than a year of upheaval for Sundanese citizens, about 750,000 are facing starvation. AFP
With more than a year of upheaval for Sundanese citizens, about 750,000 are facing starvation. AFP
With more than a year of upheaval for Sundanese citizens, about 750,000 are facing starvation. AFP

Aid groups call for end to famine in Sudan, where more than 750,000 may starve


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More than half of Sudan's population is enduring a hunger crisis, with approximately 755,000 facing starvation, a UN-backed report said.

Another 8.5 million are at emergency levels of hunger, the Integrated Food Security Phase Classification (IPC) revealed in its findings published on Friday.

“Sudan is facing the worst levels of acute food insecurity ever recorded by the IPC in the country,” the report said.

The Sudanese civil war has led to the largest displacement crisis in the world, with more than nine million people forced to flee.

The response to this crisis is too important to continue to be held back by warring factions who do not represent the interests of the Sudanese people
UAE government letter to the UN Security Council

Fighting broke out in April last year after weeks of tension between the army and the Rapid Support Forces militia over details of the country's transition to civilian democracy.

The UN estimates that more than 150,000 people have been killed.

Barrett Alexander, the director of programmes in Sudan for Mercy Corps, said even that figure could be an underestimate as the conflict has displaced farmers from the country's agricultural areas.

“We're seeing a man-made likely famine happen in front of our eyes that's primarily conflict-induced,” he told AFP.

“We are deeply shocked by the dire situation affecting millions of Sudanese,” said Samy Guessabi, Action Against Hunger’s Sudan country director.

“This situation is especially critical for populations trapped in conflict zones and without access to protection.”

Famine-like conditions are present in Greater Darfur, Al Jazirah, Khartoum, Blue Nile, South and North Kordofan as well as five other states, the report said. There is risk of famine in 14 areas if the war escalates.

The fighting has destroyed infrastructure, agricultural land, and water services. Food prices have also soared by up to 296 per cent since the start of the war for some commodities, the IPC said.

“The magnitude of this crisis requires a co-ordinated and sustained response to avoid an even greater humanitarian catastrophe,” said Mr Guessabi.

The report also called for more aid to be sent to the country whose share of donations has suffered as other conflicts such as Ukraine are given priority.

The UAE and the UN's refugee agency on Wednesday finalised a $20 million aid package to deliver humanitarian support in Sudan.

The UAE has sent a letter to the UN Security Council calling for urgent action to avert famine in Sudan.

“The international community must significantly increase its support to Sudan," the statement read, according to state news agency Wam on Saturday.

"The response to this crisis is too important to continue to be held back by warring factions who do not represent the interests of the Sudanese people.

"The UAE remains focused on working with international partners to mitigate the risk of famine and to encourage the warring parties to engage positively in a political process."

The UAE reiterated its “support for efforts to de-escalate tensions, implement a ceasefire and advance negotiations leading to the restoration of a legitimate government that is representative of all Sudanese people”.

Abdalla Hamdok, former prime minister of Sudan, has called for urgent action in the country.

In an exclusive interview with The National, Mr Hamdok, chairman of the Co-ordination of Civilian Democratic Forces said that “people could die from hunger and starvation more than from bullets”.

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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Director: Joseph Kosinski

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Company%20profile
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Yorkshire Vikings 144-1 in 12.5 overs
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bt Hobart Hurricanes 140-7 in 20 overs
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Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

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OIL PLEDGE

At the start of Russia's invasion, IEA member countries held 1.5 billion barrels in public reserves and about 575 million barrels under obligations with industry, according to the agency's website. The two collective actions of the IEA this year of 62.7 million barrels, which was agreed on March 1, and this week's 120 million barrels amount to 9 per cent of total emergency reserves, it added.

Brief scoreline:

Tottenham 1

Son 78'

Manchester City 0

Updated: June 29, 2024, 1:17 PM