Palestinian girl, 8, tells of hair loss due to the horrors of war


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“My friends ask me if I have cancer,” said displaced Gazan child Sama Tbail, fighting back tears after losing most of her hair during Israel's war on the besieged strip.

The eight-year-old's long locks have fallen out due to the psychological shock from living in a conflict zone, according to doctors. Sama lives in constant fear of an Israeli attack on the area where she is sheltering.

Around 1.9 million people – about nine in 10 of the Gaza population – are estimated to have been internally displaced by the war, roughly half of them children. More than 40,200 Palestinians have been killed since the start of the fighting in October.

Sama before her hair loss began. Photo: Family handout
Sama before her hair loss began. Photo: Family handout

“The doctors tell me that I need to eat well and take vitamins,” Sama told The National, adding that she needs medicine not available in Gaza due to an Israeli blockade on the territory's borders. “I’m scared my hair won’t grow back, how can I go to school?” she asked.

The youngster wears a headscarf and said her friends have been asking her: “Are you bald?” “I wish I could go outside for treatment. I wish I could wake up without the sound of ambulances or bombings,” she added.

But her biggest wish is to wake up in her own home, she told The National to the sound of shelling. Sama fears her hair will not return unless she escapes the violence. “How will my hair grow back while we are living this way?” she said.

The United Nations children's agency Unicef has been calling for a ceasefire since the war began and has warned of “unimaginable horrors” that Gazan children have endured. “They deserve an immediate ceasefire and a chance for a peaceful future,” Unicef said in a statement in May. It said there was “no safe place for children as the humanitarian crisis deepens”.

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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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Updated: December 18, 2024, 1:13 PM