Live updates: Follow the latest on the Syrian rebel advance
Syrians in Damascus are grappling with food shortages and skyrocketing prices amid panic buying, as residents anticipate an advance on the capital from rebels seeking to topple President Bashar Al Assad.
Supplies are dwindling with major roads to the city blocked off, while generators and heating systems ramped up in the winter are swallowing scarce fuel stocks.
In the space of a week, the price of fuel has doubled and shoppers have been stocking up on bread, food, and other commodities in anticipation of a breakdown in order.
“The city is empty at night ... Transportation is almost non-existent, prices are crazy, and there is no gas in this city or gasoline for heating,” activist Muhammad Solaiman told The National.
The cost for a packet of sugar has jumped from around 11,000 Syrian pounds (85 US cents) to about 15,000.
Damascus welder Muhammad Al Zein, 55, said he went to buy supplies for his family but found shelves empty on Saturday.
"People are now paying ridiculous sums as the goods are now monopolised and some of the stores are empty,” he told The National.
"How are we expected to get the money to pay for all of this? I went to buy some groceries and ended up paying two million pounds. My monthly salary is around that entire amount.”
Price increases are becoming the norm, Mr Al Zein said. “At a minimum, prices have gone up by between 35 and 50 per cent and it's getting even worse ... There has been a noticeable surge in the demand for essential goods like sugar, oil, and lentils. This is increasing as more people are coming from the provinces,” he said.
“To some merchants who raised their prices during the hours of yesterday evening and this morning in all the governorates ... you exploit people's needs and set prices according to your mood.”
Damascus-based content creator Khaled Taghlibi called on government officials to intervene in the market. He said the "missiles of the merchants" were as hard to bear as the real missiles of war.
City governor Muhammad Tariq Kreishati released a statement saying that demand had been pushed up for daily goods due to people in need arriving in the capital after fleeing the rebel offensive.
The exchange rate with the US dollar has fallen to 19,000 from 15,000 before the rebel offensive began. In Aleppo the currency is down to about 25,000 to the dollar due to the dual use of the Turkish Lira in the area.
Electricity supply to Damascus and surrounding areas has also deteriorated, with residents receiving only one hour of power every five hours.
In some neighbourhoods, the hour of electricity comes only once every 11 hours.
Many Syrians are struggling to understand how this all is happening amid a lack of clarity from state institutions and the media.
“This situation puts the mind in a frenzy. There is no one among officials coming out to declare, discuss or even disown the situation," said radio personality Samer Yousef from local station Sham FM. "Where are they?”
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The Melbourne Mercer Global Pension Index
The Melbourne Mercer Global Pension Index
Mazen Abukhater, principal and actuary at global consultancy Mercer, Middle East, says the company’s Melbourne Mercer Global Pension Index - which benchmarks 34 pension schemes across the globe to assess their adequacy, sustainability and integrity - included Saudi Arabia for the first time this year to offer a glimpse into the region.
The index highlighted fundamental issues for all 34 countries, such as a rapid ageing population and a low growth / low interest environment putting pressure on expected returns. It also highlighted the increasing popularity around the world of defined contribution schemes.
“Average life expectancy has been increasing by about three years every 10 years. Someone born in 1947 is expected to live until 85 whereas someone born in 2007 is expected to live to 103,” Mr Abukhater told the Mena Pensions Conference.
“Are our systems equipped to handle these kind of life expectancies in the future? If so many people retire at 60, they are going to be in retirement for 43 years – so we need to adapt our retirement age to our changing life expectancy.”
Saudi Arabia came in the middle of Mercer’s ranking with a score of 58.9. The report said the country's index could be raised by improving the minimum level of support for the poorest aged individuals and increasing the labour force participation rate at older ages as life expectancies rise.
Mr Abukhater said the challenges of an ageing population, increased life expectancy and some individuals relying solely on their government for financial support in their retirement years will put the system under strain.
“To relieve that pressure, governments need to consider whether it is time to switch to a defined contribution scheme so that individuals can supplement their own future with the help of government support,” he said.
White hydrogen: Naturally occurring hydrogen
Chromite: Hard, metallic mineral containing iron oxide and chromium oxide
Ultramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica content
Ophiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on land
Olivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour
NYBL PROFILE
Company name: Nybl
Date started: November 2018
Founder: Noor Alnahhas, Michael LeTan, Hafsa Yazdni, Sufyaan Abdul Haseeb, Waleed Rifaat, Mohammed Shono
Based: Dubai, UAE
Sector: Software Technology / Artificial Intelligence
Initial investment: $500,000
Funding round: Series B (raising $5m)
Partners/Incubators: Dubai Future Accelerators Cohort 4, Dubai Future Accelerators Cohort 6, AI Venture Labs Cohort 1, Microsoft Scale-up
COMPANY%20PROFILE
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GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
UAE squad
Humaira Tasneem (c), Chamani Senevirathne (vc), Subha Srinivasan, NIsha Ali, Udeni Kuruppuarachchi, Chaya Mughal, Roopa Nagraj, Esha Oza, Ishani Senevirathne, Heena Hotchandani, Keveesha Kumari, Judith Cleetus, Chavi Bhatt, Namita D’Souza.
Countries offering golden visas
UK
Innovator Founder Visa is aimed at those who can demonstrate relevant experience in business and sufficient investment funds to set up and scale up a new business in the UK. It offers permanent residence after three years.
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
The scheme is designed for foreign investors committed to making a significant contribution to the economy. Requires a minimum investment of €250,000 which can rise to €2 million.
Switzerland
Residence Programme offers residence to applicants and their families through economic contributions. The applicant must agree to pay an annual lump sum in tax.
Canada
Start-Up Visa Programme allows foreign entrepreneurs the opportunity to create a business in Canada and apply for permanent residence.
AIR
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Past winners of the Abu Dhabi Grand Prix
2016 Lewis Hamilton (Mercedes-GP)
2015 Nico Rosberg (Mercedes-GP)
2014 Lewis Hamilton (Mercedes-GP)
2013 Sebastian Vettel (Red Bull Racing)
2012 Kimi Raikkonen (Lotus)
2011 Lewis Hamilton (McLaren)
2010 Sebastian Vettel (Red Bull Racing)
2009 Sebastian Vettel (Red Bull Racing)
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
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Company%20Profile
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if you go
The flights
Emirates fly direct from Dubai to Houston, Texas, where United have direct flights to Managua. Alternatively, from October, Iberia will offer connections from Madrid, which can be reached by both Etihad from Abu Dhabi and Emirates from Dubai.
The trip
Geodyssey’s (Geodyssey.co.uk) 15-night Nicaragua Odyssey visits the colonial cities of Leon and Granada, lively country villages, the lake island of Ometepe and a stunning array of landscapes, with wildlife, history, creative crafts and more. From Dh18,500 per person, based on two sharing, including transfers and tours but excluding international flights. For more information, visit visitnicaragua.us.