A shrimp boat is pushed inland after Hurricane Helene passed through the Florida panhandle. Reuters
A shrimp boat is pushed inland after Hurricane Helene passed through the Florida panhandle. Reuters
A shrimp boat is pushed inland after Hurricane Helene passed through the Florida panhandle. Reuters
A shrimp boat is pushed inland after Hurricane Helene passed through the Florida panhandle. Reuters

Hurricane Helene death toll rises to 132 as south-eastern US reels from strong storm


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Emergency responders in North Carolina were racing on Monday to try to reach people who remain unaccounted for three days after Hurricane Helene tore through the south-eastern US, killing more than 130 people.

CNN reported on Monday that 132 were killed in the storm across six states, and about 2.1 million homes and businesses were without power while mobile phone service remained unavailable in large areas from Ohio through the Carolinas and into Florida.

“The lack of communication is concerning,” North Carolina Governor Roy Cooper told CNN on Monday. “We know that there are people missing, and we know that there's going to be significant fatalities at the end of this and our prayers and our hearts go out to these families.”

Mr Cooper, who said he had not heard from his son and daughter in 72 hours, added that local officials and rescue workers were performing door-to-door welfare checks in many communities.

The National Guard is fully activated and emergency workers from 19 states are there to help, along with Federal Emergency Management Agency personnel, according to Reuters. Mr Cooper said the rugged terrain in the mountains of western North Carolina makes it almost impossible to traverse, with landslides and flooding.

“So we're depending a lot on air power, helicopters with hoist capacity to get supplies in,” he said.

Helene hit Florida's Gulf Coast on Thursday night, triggering days of driving rain and destroying homes that had stood for decades. As it moved north, it washed out roads, decimated neighbourhoods and left many communities without water and basic necessities.

Officials in western North Carolina have been working non-stop to get more water, food and other supplies to flood-stricken areas, the Associated Press reported. Shelters in the area are housing more than 1,000 people.

Supplies were being lifted by air to the region around the isolated city of Asheville, and Buncombe county manager Avril Pinder pledged that she would have food and water to the city by Monday.

“We hear you. We need food and we need water,” Ms Pinder said on a Sunday call with reporters. “My staff has been making every request possible to the state for support and we’ve been working with every single organisation that has reached out. What I promise you is that we are very close.”

Asheville's water system was severely damaged. Residents walked with buckets to a creek to get water to flush toilets, carefully watching their steps where a wall of water three days before stripped away all of the trees and ground, leaving only mud.

The storm upended life throughout the south-east. Officials warned that rebuilding from the widespread loss of homes and property would be lengthy and difficult.

Damage estimates ranged from $15 billion to more than $100 billion, insurers and forecasters said at the weekend, as water systems, communications and critical transport routes were damaged or destroyed.

President Joe Biden plans to visit affected areas this week, once he can do so without disrupting emergency services, the White House said. Both Vice President Kamala Harris and Donald Trump have altered their travel plans to visit affected areas.

A man attempts to clean out his house after it was flooded by Hurricane Helene in Steinhatchee, Florida. Reuters
A man attempts to clean out his house after it was flooded by Hurricane Helene in Steinhatchee, Florida. Reuters
UAE currency: the story behind the money in your pockets
Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
Company%C2%A0profile
%3Cp%3ECompany%3A%20Zywa%3Cbr%3EStarted%3A%202021%3Cbr%3EFounders%3A%20Nuha%20Hashem%20and%20Alok%20Kumar%3Cbr%3EBased%3A%20UAE%3Cbr%3EIndustry%3A%20FinTech%3Cbr%3EFunding%20size%3A%20%243m%3Cbr%3ECompany%20valuation%3A%20%2430m%3C%2Fp%3E%0A

Director: Romany Saad
Starring: Mirfat Amin, Boumi Fouad and Tariq Al Ibyari

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

SPECS
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The Matrix Resurrections

Director: Lana Wachowski

Stars:  Keanu Reeves, Carrie-Anne Moss, Jessica Henwick 

Rating:****

The years Ramadan fell in May

1987

1954

1921

1888

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Founders: Michele Ferrario, Nino Ulsamer and Freddy Lim
Started: established in 2016 and launched in July 2017
Based: Singapore, with offices in the UAE, Malaysia, Hong Kong, Thailand
Sector: FinTech, wealth management
Initial investment: $500,000 in seed round 1 in 2016; $2.2m in seed round 2 in 2017; $5m in series A round in 2018; $12m in series B round in 2019; $16m in series C round in 2020 and $25m in series D round in 2021
Current staff: more than 160 employees
Stage: series D 
Investors: EightRoads Ventures, Square Peg Capital, Sequoia Capital India

Anghami
Started: December 2011
Co-founders: Elie Habib, Eddy Maroun
Based: Beirut and Dubai
Sector: Entertainment
Size: 85 employees
Stage: Series C
Investors: MEVP, du, Mobily, MBC, Samena Capital

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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Terror attacks in Paris, November 13, 2015

- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany- At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people- Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed- Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest- He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France

THE%20STRANGERS'%20CASE
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RESULTS

5pm: Maiden (PA) Dh80,000 1,400m
Winner: JAP Almahfuz, Fernando Jara (jockey), Irfan Ellahi (trainer).

5.30pm: Handicap (PA) Dh90,000 1,400m​​​​​​​
Winner: AF Momtaz, Antonio Fresu, Musabah Al Muhairi.

6pm: Handicap (TB) Dh100,000 1,400m​​​​​​​
Winner: Yaalail, Fernando Jara, Ali Rashid Al Raihe.

6.30pm: Abu Dhabi Championship Listed (PA) Dh180,000 1,600m​​​​​​​
Winner: Ihtesham, Szczepan Mazur, Ibrahim Al Hadhrami.

7pm: Wathba Stallions Cup Handicap (PA) Dh70,000 1,600m​​​​​​​
Winner: Dahess D’Arabie, Fernando Jara, Helal Al Alawi.

7.30pm: Maiden (PA) Dh80,000 2.200m
​​​​​​​Winner: Ezz Al Rawasi, Connor Beasley, Helal Al Alawi.

Updated: September 30, 2024, 10:38 PM