Syria on Monday accused Israeli forces of further a "military incursion" into an area near Damascus, describing it as a "blatant violation" of the Arab country's sovereignty.
In a statement, the Syrian Foreign Ministry said the incursion was carried out by a force consisting of 11 military vehicles and about 60 soldiers. It added that Israeli troops advanced into the area between Beit Jinn and Beit Jinn Farm, in the western Damascus countryside. The forces seized control of Tal Bat Al Warda, in the foothills of Mount Hermon, the ministry added.
State news agency Sana reported earlier that Israeli troops opened fire on civilians, though no casualties were reported.
They also entered several towns and villages in Quneitra countryside, including Jubata Al Khashab, Tranja, Al Rafid, Manshiyat Suwaysa, Bariqa, Beer Ajam, Kodna, Ain Ziwan and Ain Al Abed, and raided and searchedhomes before withdrawing, the agency said.
"This dangerous escalation constitutes a direct threat to regional peace and security, and once again embodies the aggressive approach pursued by the occupying authorities," the ministry said.
It added that the continuation of such breaches undermines efforts to establish stability in Syria and exacerbates tensions in the region. The ministry called on the UN and the UN Security Council to "assume their legal and moral responsibilities and take urgent and effective measures to deter the occupation authorities from their aggressive practices".
The two countries have recently engaged in talks on de-escalating the violence in southern Syria.
Syria's Foreign Minister Asaad Al Shibani last week met an Israeli delegation in Paris to discuss enhancing security in the region. The discussions focused on de-escalation and non-interference, as well as monitoring the ceasefire in Sweida governorate, among other issues.
Israel and Syria have never established diplomatic relations, although both signed a disengagement agreement in 1974 that created a UN-monitored buffer zone separating them. Sana reported that the Paris discussions touched on reactivating the agreement.
Cross-border Israeli strikes on Syria increased after the toppling of former president Bashar Al Assad and further intensified during the Sweida conflict, with targets including the Ministry of Defence in Damascus.
Syrian President Ahmad Al Shara will participate in the 80th session of the UN General Assembly next month and is expected to give a speech and talk about the Israeli breaches. This will be the first speech by a Syrian president since 1967.
The US in December scrapped a $10 million reward for the arrest of the Syrian leader after meetings between senior diplomats and representatives from the new government.
Last week, Mr Al Shara appointed Ibrahim Olabi, a British-educated human rights lawyer, as the country’s new ambassador to the UN, replacing Kusay Aldahak, a career diplomat who was appointed by Mr Al Assad, as UN ambassador.
The Details
Kabir Singh
Produced by: Cinestaan Studios, T-Series
Directed by: Sandeep Reddy Vanga
Starring: Shahid Kapoor, Kiara Advani, Suresh Oberoi, Soham Majumdar, Arjun Pahwa
Rating: 2.5/5
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 specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
Guide to intelligent investing
Investing success often hinges on discipline and perspective. As markets fluctuate, remember these guiding principles:
- Stay invested: Time in the market, not timing the market, is critical to long-term gains.
- Rational thinking: Breathe and avoid emotional decision-making; let logic and planning guide your actions.
- Strategic patience: Understand why you’re investing and allow time for your strategies to unfold.
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
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UAE currency: the story behind the money in your pockets
Results
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MATCH INFO
Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid
When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid
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Electric scooters: some rules to remember
- Riders must be 14-years-old or over
- Wear a protective helmet
- Park the electric scooter in designated parking lots (if any)
- Do not leave electric scooter in locations that obstruct traffic or pedestrians
- Solo riders only, no passengers allowed
- Do not drive outside designated lanes