Latest: Many Middle East flights still grounded as strikes on Lebanon intensify
Airlines have cancelled flights scheduled to take off on Thursday in response to rising tensions across the Middle East after Iran's major rocket attack on Israel.
With Israel's threat of retaliation leaving the region on the brink of an already devastating war escalating, airlines have taken action with passenger safety in mind after Israel, Iraq and Jordan closed off their airspace.
Dubai carriers Emirates and flydubai cancelled all flights to Iraq, Iran and Jordan scheduled for Thursday. Emirates also cancelled flights to the UK, Oman and Kuwait. Emirates later added that all flights to and from Iraq, Iran and Jordan scheduled for Friday and Saturday are also cancelled.
The airlines have confirmed that those booked on the flights will be assisted with travel arrangements, with passengers advised to check the latest flight information with their carrier.
Flydubai said on Thursday that it would resume flights to Iran, Iraq, Israel and Jordan from Friday.
"We are monitoring the situation closely and will amend our flight schedule if required," a flydubai spokesperson said.
"Flydubai operates within flight paths approved by the regulator and the safety of our passengers and crew remains our top priority."
Flights to Beirut have also been disrupted, with Emirates extending the suspension of routes to and from the Lebanese capital until October 8, and flydubai has suspended flights up to October 7, as Israel began an incursion in the south of the country.
Abu Dhabi-based Etihad Airways resumed its flights to Tel Aviv on Thursday. “The airline is closely monitoring the situation and remains in constant communication with relevant authorities and security intelligence providers,” its representative said.
Gulf airlines halt flights
Air Arabia flights to Beirut from Sharjah and Abu Dhabi remain suspended and Egyptair said it was suspending flights to Beirut indefinitely. Jordan's flag carrier Royal Jordanian said flights to Beirut were not operating “due to the current situation”.
Iran Air and Iraqi Airways have also suspended flights to the Lebanese capital “until further notice”, local news agencies reported.
On Thursday, Iran's Civil Aviation Organisation said airlines were now permitted to resume flight operations, which were temporarily grounded following Iran's missile strike on Israel on Tuesday.
Bahrain's flag carrier Gulf Air and Doha-based Qatar Airways have taken similar steps because of security concerns. The National has contacted Saudia and Gulf Air for comment.
Lebanon's Middle East Airlines is the only airline operating from Beirut. Many countries, including Britain, the US, France and Ireland are calling on their citizens to leave. On Saturday, the European Commission and the EU Aviation Safety Agency issued conflict zone information bulletins recommending that airlines avoid operating in the airspaces of Lebanon and Israel “at all flight levels”.
Cancelled Emirates flights
- EK945/EK946 Dubai – Basrah – Dubai
- EK2444/EK2445 Dubai – Basrah – Dubai
- EK941/EK942 Dubai – Baghdad – Dubai
- EK2072/EK2073 Dubai – Baghdad – Dubai
- EK977/EK978 Dubai – Tehran – Dubai
- EK971/EK972 Dubai – Tehran – Dubai
- EK979/EK980 Dubai – Tehran – Dubai
- EK904/EK905 Dubai – Amman – Dubai
- EK2056/EK2057 Dubai – Amman – Dubai
- EK837/838 Dubai – Bahrain – Dubai
- EK855/86 Dubai – Kuwait – Dubai
- EK31/32 Dubai – London Heathrow – Dubai
- EK866/867 Dubai – Muscat – Dubai
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Director: Rupert Wyatt
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Which products are to be taxed?
To be taxed:
Flavoured water, long-life fruit juice concentrates, pre-packaged sweetened coffee drinks fall under the ‘sweetened drink’ category
Not taxed
Freshly squeezed fruit juices, ground coffee beans, tea leaves and pre-prepared flavoured milkshakes do not come under the ‘sweetened drink’ band.
Products excluded from the ‘sweetened drink’ category would contain at least 75 per cent milk in a ready-to-drink form or as a milk substitute, baby formula, follow-up formula or baby food, beverages consumed for medicinal use and special dietary needs determined as per GCC Standardisation Organisation rules
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Favourite hobby: I love to sing but I don’t get to sing as much nowadays sadly.
Favourite book: Anything by Sidney Sheldon.
Favourite movie: The Exorcist 2. It is a big thing in our family to sit around together and watch horror movies, I love watching them.
Favourite holiday destination: The favourite place I have been to is Florence, it is a beautiful city. My dream though has always been to visit Cyprus, I really want to go there.
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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- Brentford v Arsenal
- Burnley v Brighton
- Chelsea v Crystal Palace
- Everton v Southampton
- Leicester City v Wolves
- Manchester United v Leeds United
- Newcastle United v West Ham United
- Norwich City v Liverpool
- Tottenham v Manchester City
- Watford v Aston Villa
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'THE WORST THING YOU CAN EAT'
Trans fat is typically found in fried and baked goods, but you may be consuming more than you think.
Powdered coffee creamer, microwave popcorn and virtually anything processed with a crust is likely to contain it, as this guide from Mayo Clinic outlines:
Baked goods - Most cakes, cookies, pie crusts and crackers contain shortening, which is usually made from partially hydrogenated vegetable oil. Ready-made frosting is another source of trans fat.
Snacks - Potato, corn and tortilla chips often contain trans fat. And while popcorn can be a healthy snack, many types of packaged or microwave popcorn use trans fat to help cook or flavour the popcorn.
Fried food - Foods that require deep frying — french fries, doughnuts and fried chicken — can contain trans fat from the oil used in the cooking process.
Refrigerator dough - Products such as canned biscuits and cinnamon rolls often contain trans fat, as do frozen pizza crusts.
Creamer and margarine - Nondairy coffee creamer and stick margarines also may contain partially hydrogenated vegetable oils.
Australia tour of Pakistan
March 4-8: First Test, Rawalpindi
March 12-16: Second Test, Karachi
March 21-25: Third Test, Lahore
March 29: First ODI, Rawalpindi
March 31: Second ODI, Rawalpindi
April 2: Third ODI, Rawalpindi
April 5: T20I, Rawalpindi
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