The dire humanitarian situation in Sudan is not drawing enough attention from the world, a senior UAE official told The National on Thursday.
“While conflicts are taking place in the Middle East and Europe – and these are important – there is a humanitarian crisis of unprecedented proportion in Sudan that is overlooked,” said Reem Al Hashimy, Minister of State for International Co-operation.
The UAE, Ethiopia, the African Union (AU) and the Intergovernmental Authority on Development (IGAD) are set to jointly host a high-level humanitarian conference in Addis Ababa on Friday, aiming to mobilise urgent support for the Sudanese people as the conflict in the country nears its two-year mark.
The conference, held on the sidelines of the AU Summit, seeks to raise international attention to the humanitarian crisis in Sudan and ensure aid reaches those in need despite increasing restrictions to access, Ms Al Hashimy said.
Sudan’s civil war, which started in April 2023 between the Sudanese army and the paramilitary Rapid Support Forces (RSF), has killed tens of thousands of people, displaced millions and devastated the country.
Famine has been detected in at least five areas, including three camps for displaced people in Darfur, the Integrated Food Security Classification has said.
Both the Sudanese government and the RSF have been implicated in obstructing the delivery of humanitarian aid during the conflict. Aid groups say they struggle to reach the most vulnerable as warring parties limit access, especially in Darfur.
The UAE is expected to announce a $200 million aid package in Friday’s summit, senior officials told The National, bringing its total humanitarian assistance for Sudan since the outbreak of war to $600 million. The funds will be channelled through UN agencies and other humanitarian organisations.
“The global community should focus on Sudan and take concrete steps to alleviate the suffering of its people,” Sheikh Shakhbout bin Nahyan, Minister of State at the Ministry of Foreign Affairs, told The National. “Relief assistance should not be politicised. It is essential to underscore that no entity should have the right to arbitrarily challenge lifesaving assistance.”
Ms Al Hashimy noted that “the initiative comes ahead of the Holy Month of Ramadan", a time when humanitarian efforts traditionally intensify.
The UAE also called for a ceasefire during holy month, a call rejected by the Sudanese army.
This conference marks the first major international effort this year dedicated to the humanitarian situation in Sudan, with organisers hoping to push the international community to step up support.
Racecard
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ETFs explained
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The specs
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How to protect yourself when air quality drops
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.
All about the Sevens
Cape Town Sevens on Saturday and Sunday: Pools A – South Africa, Kenya, France, Russia; B – New Zealand, Australia, Spain, United States; C – England, Scotland, Argentina, Uganda; D – Fiji, Samoa, Canada, Wales
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Soldier F
“I was in complete disgust at the fact that only one person was to be charged for Bloody Sunday.
“Somebody later said to me, 'you just watch - they'll drop the charge against him'. And sure enough, the charges against Soldier F would go on to be dropped.
“It's pretty hard to think that 50 years on, the State is still covering up for what happened on Bloody Sunday.”
Jimmy Duddy, nephew of John Johnson
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Astroworld
Travis Scott
Grand Hustle/Epic/Cactus Jack
MWTC info
Tickets to the MWTC range from Dh100 and can be purchased from www.ticketmaster.ae or by calling 800 86 823 from within the UAE or 971 4 366 2289 from outside the country and all Virgin Megastores. Fans looking to attend all three days of the MWTC can avail of a special 20 percent discount on ticket prices.
RACECARD
6pm Emaar Dubai Sprint – Conditions (TB) $60,000 (Turf) 1,200m
6.35pm Graduate Stakes – Conditions (TB) $100,000 (Dirt) 1,600m
7.10pm Al Khail Trophy – Listed (TB) $100,000 (T) 2,810m
7.45pm UAE 1000 Guineas – Listed (TB) $150,000 (D) 1,600m
8.20pm Zabeel Turf – Listed (TB) $100,000 (T) 2,000m
8.55pm Downtown Dubai Cup – Rated Conditions (TB) $80,000 (D) 1,400m
9.30pm Zabeel Mile – Group 2 (TB) $180,000 (T) 1,600m
10.05pm Dubai Sprint – Listed (TB) $100,000 (T) 1,200m
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Volvo ES90 Specs
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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.”
