An Israeli air strike on Zibqin, southern Lebanon, in late August. Israeli forces and Hezbollah have been engaged in low-level conflict since the start of the Israel-Gaza war. AFP
An Israeli air strike on Zibqin, southern Lebanon, in late August. Israeli forces and Hezbollah have been engaged in low-level conflict since the start of the Israel-Gaza war. AFP
An Israeli air strike on Zibqin, southern Lebanon, in late August. Israeli forces and Hezbollah have been engaged in low-level conflict since the start of the Israel-Gaza war. AFP
An Israeli air strike on Zibqin, southern Lebanon, in late August. Israeli forces and Hezbollah have been engaged in low-level conflict since the start of the Israel-Gaza war. AFP

Child among three killed in Israeli attack on southern Lebanon


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Three people, including a child, have been killed in an Israeli strike on southern Lebanon, health authorities said on Friday. The strike occurred in the Kfarjoz area near the city of Nabatieh, 10km from the border with Israel.

The area has been targeted by Israeli air strikes and artillery fire – including attacks using white phosphorus, which burns and pollutes farmland – since October 8, when the Iran-backed Lebanese militia Hezbollah intervened in the Israel-Gaza war.

A source close to Hezbollah told AFP that one of the dead was “a fighter in Hezbollah” and the two others were “civilians”.

Lebanon's state-run National News Agency said the strike “targeted two motorcycles on the Nabatieh-Kfarjoz road”, and that a passing car was also hit.

On Friday, the Israeli military said “approximately 20 projectiles were identified crossing from Lebanon into Israeli territory” around Safed, where the Israeli army Northern Command is based.

“Most were successfully intercepted, the rest fell in open areas,” the army said, adding that no injuries were reported but teams were working to “extinguish the fire that erupted due to a fall in the area”.

Israel and Hezbollah are engaged in a tit-for-tat conflict, with Israel often attempting to strike key Hezbollah commanders and weapons specialists with drone and air strikes, and the group retaliating. They came close to full-scale war in late August when Israel claimed it had launched a “pre-emptive” strike on hundreds of Hezbollah positions.

Often, Hezbollah's retaliation takes the form of inaccurate rocket barrages, but the group also has a small number of powerful and accurate long-range missiles, mostly held back in reserve. The group also launches salvoes of explosive drones against Israeli military facilities, such as barracks and observation posts.

Cross-border violence since early October has killed about 622 people in Lebanon, mostly fighters, but including at least 142 civilians, according to an AFP tally.

On the Israeli side, including in the occupied Golan Heights, authorities have reported the deaths of at least 24 soldiers and 26 civilians.

About 100,000 Lebanese have been displaced in the violence, according to the UN, while on the Israeli side around 60,000 people have left their homes.

Experts say a full-scale conflict would likely kill hundreds, if not thousands of people within days or weeks and cause massive infrastructure damage in both countries.

Indoor cricket in a nutshell

Indoor cricket in a nutshell
Indoor Cricket World Cup - Sept 16-20, Insportz, Dubai

16 Indoor cricket matches are 16 overs per side
8 There are eight players per team
9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.
5 Five runs are deducted from the score when a wickets falls
4 Batsmen bat in pairs, facing four overs per partnership

Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.

Zones

A Front net, behind the striker and wicketkeeper: 0 runs
B Side nets, between the striker and halfway down the pitch: 1 run
C Side nets between halfway and the bowlers end: 2 runs
D Back net: 4 runs on the bounce, 6 runs on the full

The National in Davos

We are bringing you the inside story from the World Economic Forum's Annual Meeting in Davos, a gathering of hundreds of world leaders, top executives and billionaires.

In numbers

Number of Chinese tourists coming to UAE in 2017 was... 1.3m

Alibaba’s new ‘Tech Town’  in Dubai is worth... $600m

China’s investment in the MIddle East in 2016 was... $29.5bn

The world’s most valuable start-up in 2018, TikTok, is valued at... $75bn

Boost to the UAE economy of 5G connectivity will be... $269bn 

Adele: The Stories Behind The Songs
Caroline Sullivan
Carlton Books

If you go...

Fly from Dubai or Abu Dhabi to Chiang Mai in Thailand, via Bangkok, before taking a five-hour bus ride across the Laos border to Huay Xai. The land border crossing at Huay Xai is a well-trodden route, meaning entry is swift, though travellers should be aware of visa requirements for both countries.

Flights from Dubai start at Dh4,000 return with Emirates, while Etihad flights from Abu Dhabi start at Dh2,000. Local buses can be booked in Chiang Mai from around Dh50

The Library: A Catalogue of Wonders
Stuart Kells, Counterpoint Press

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 BIO

Ms Al Ameri likes the variety of her job, and the daily environmental challenges she is presented with.

Regular contact with wildlife is the most appealing part of her role at the Environment Agency Abu Dhabi.

She loves to explore new destinations and lives by her motto of being a voice in the world, and not an echo.

She is the youngest of three children, and has a brother and sister.

Her favourite book, Moby Dick by Herman Melville helped inspire her towards a career exploring  the natural world.

T20 SQUADS

Australia: Aaron Finch (c), Mitchell Marsh, Alex Carey, Ashton Agar, Nathan Coulter-Nile, Chris Lynn, Nathan Lyon, Glenn Maxwell, Ben McDermott, D’Arcy Short, Billy Stanlake, Mitchell Starc, Andrew Tye, Adam Zampa.

Pakistan: Sarfraz Ahmed (c), Fakhar Zaman, Mohammad Hafeez, Sahibzada Farhan, Babar Azam, Shoaib Malik, Asif Ali, Hussain Talat, Shadab Khan, Shaheen Shah Afridi, Usman Khan Shinwari, Hassan Ali, Imad Wasim, Waqas Maqsood, Faheem Ashraf.

The Two Popes

Director: Fernando Meirelles

Stars: Anthony Hopkins, Jonathan Pryce 

Four out of five stars

Company profile

Name: Steppi

Founders: Joe Franklin and Milos Savic

Launched: February 2020

Size: 10,000 users by the end of July and a goal of 200,000 users by the end of the year

Employees: Five

Based: Jumeirah Lakes Towers, Dubai

Financing stage: Two seed rounds – the first sourced from angel investors and the founders' personal savings

Second round raised Dh720,000 from silent investors in June this year

Updated: September 13, 2024, 6:33 AM