In January, my colleagues and I at MSF, a medical humanitarian organisation, were struck by the reality of Cabo Delgado, a province in the north of Mozambique, which has been affected by a conflict since 2017. The father of Matilde, one of our colleagues, was beheaded in an attack while working the land in a village in northern Macomia, a city in the province. Matilde and her family had the heartbreaking and dangerous task of collecting his remains so they could bury him with dignity.
A week later, the son of another colleague, Salvador, died of diarrhoea in Cuamba, a city in Niassa Province. He was only 20 months old. The conditions of the health centres are extremely poor and accessing services is often a nightmare. The lack of care for civilians in Cabo Delgado is shocking, as is their vulnerability to the atrocities of the ongoing conflict.
After more than 3,500 deaths, and the emergence of hundreds of thousands of displaced people, the war drags on. Since the end of January, about 15,000 people have been forcibly displaced only in the district of Meluco and many others have faced the same fate in different areas of the province; hundreds of houses have been burned to the ground, crops stolen and we still do not know the exact number of people killed. Bodies are counted by the dozens.
The situation could be different if the designed for Cabo Delgado were also aimed at building strong communities
People arrive empty-handed after several days without eating, and our teams often have to provide something as basic as T-shirts and flip-flops, as well as other essential goods and food rations, at transit points where people arrive. These are the ones who reach a safer area, but others remain for long periods hidden in the undergrowth. We have seen people who spent up to one year living in the forest surviving with the little they could find there such as leaves, fruits or an animal they hunted.
The day-to-day reality in Cabo Delgado shows that the crisis is far from over. In this region, the massive investment in gas and the community's desperate and helpless attempts to improve their situation come up against an absent state and frequent attacks by armed groups.
It is an issue that is not going to disappear overnight. This war has left 15,000 square kilometres in six districts of Cabo Delgado, once vibrant and animated, completely uninhabited. An expanse of territory, which is bigger than Jamaica or Gambia, where today no one lives, sows, harvests or fishes. Armed groups are, as people say here, "infernizando" (tormenting) communities. People are terrified and, from our own experience, it only takes the sound of a few gunshots or other indications of looming insecurity to empty an entire town in a matter of minutes.
People here are astonishingly resilient. They rebuild their homes at least a couple of times a year, most of them have been displaced multiple times. If it is not the war, extreme climate events force them from their homes. Up to eight tropical storms are expected this cyclone season. The first two ones, hitting the country in January and March, wreaked havoc in Nampula Province, south of Cabo Delgado. Facing this threat, people are vigilant, but remain unprotected.
Most families cannot even raise enough money to take a bus. Many young children have limited access to food and have never been to school, while 67 per cent of mothers have never had the opportunity to learn to read or write. A subsistence economy, where people work only to try and eat that day, is the norm. Many young people do not have jobs or education, leaving them vulnerable to recruitment into armed groups.
Is it a question of there being enough funds to solve the situation? There has been more than $760 million allocated by international institutions to Mozambique's North Integrated Development Agency, a government recovery fund created in 2020. Companies have also allocated funds to thousands of families living around the Afungi liquefied natural gas plant, near Palma, which was hit by violence in March 2021, and other neighbouring districts. The EU is in talks with the Mozambican government regarding further aid and co-operation. However, humanitarian aid funds, those dedicated specifically to addressing emergency needs, are much more modest. They are mostly limited to feeding people who have neither land nor work and fundamentally focused on the more stable areas.
But it is not only a matter of money; the situation could be different if the economic and political projects designed for Cabo Delgado were also aimed at building strong communities with a future. This is, unfortunately, not the case. And so, if the marginalisation of people does not stop, communities will remain insecure and vulnerable and the conflict will continue to cause immense suffering.
PROFILE OF STARZPLAY
Date started: 2014
Founders: Maaz Sheikh, Danny Bates
Based: Dubai, UAE
Sector: Entertainment/Streaming Video On Demand
Number of employees: 125
Investors/Investment amount: $125 million. Major investors include Starz/Lionsgate, State Street, SEQ and Delta Partners
Our legal consultant
Name:Â Hassan Mohsen Elhais
Position:Â legal consultant with Al Rowaad Advocates and Legal Consultants
Which honey takes your fancy?
Al Ghaf Honey
The Al Ghaf tree is a local desert tree which bears the harsh summers with drought and high temperatures. From the rich flowers, bees that pollinate this tree can produce delicious red colour honey in June and July each year
Sidr Honey
The Sidr tree is an evergreen tree with long and strong forked branches. The blossom from this tree is called Yabyab, which provides rich food for bees to produce honey in October and November. This honey is the most expensive, but tastiest
Samar Honey
The Samar tree trunk, leaves and blossom contains Barm which is the secret of healing. You can enjoy the best types of honey from this tree every year in May and June. It is an historical witness to the life of the Emirati nation which represents the harsh desert and mountain environments
South Africa squad
: Faf du Plessis (captain), Hashim Amla, Temba Bavuma, Quinton de Kock (wkt), Theunis de Bruyn, AB de Villiers, Dean Elgar, Heinrich Klaasen (wkt), Keshav Maharaj, Aiden Markram, Morne Morkel, Chris Morris, Wiaan Mulder, Lungi Ngidi, Duanne Olivier, Vernon Philander and Kagiso Rabada.
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
Indoor cricket in a nutshell
Indoor cricket in a nutshell
Indoor Cricket World Cup - Sept 16-20, Insportz, Dubai
16 Indoor cricket matches are 16 overs per side
8 There are eight players per team
9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.
5 Five runs are deducted from the score when a wickets falls
4 Batsmen bat in pairs, facing four overs per partnership
Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.
Zones
A Front net, behind the striker and wicketkeeper: 0 runs
B Side nets, between the striker and halfway down the pitch: 1 run
C Side nets between halfway and the bowlers end: 2 runs
D Back net: 4 runs on the bounce, 6 runs on the full
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.”
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
UAE SQUAD FOR ASIAN JIU-JITSU CHAMPIONSHIP
Men’s squad: Faisal Al Ketbi, Omar Al Fadhli, Zayed Al Kathiri, Thiab Al Nuaimi, Khaled Al Shehhi, Mohamed Ali Al Suwaidi, Farraj Khaled Al Awlaqi, Muhammad Al Ameri, Mahdi Al Awlaqi, Saeed Al Qubaisi, Abdullah Al Qubaisi and Hazaa Farhan
Women's squad: Hamda Al Shekheili, Shouq Al Dhanhani, Balqis Abdullah, Sharifa Al Namani, Asma Al Hosani, Maitha Sultan, Bashayer Al Matrooshi, Maha Al Hanaei, Shamma Al Kalbani, Haya Al Jahuri, Mahra Mahfouz, Marwa Al Hosani, Tasneem Al Jahoori and Maryam Al Amri
Springtime in a Broken Mirror,
Mario Benedetti, Penguin Modern Classics
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COMPANY%20PROFILE
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Friday's schedule at the Etihad Airways Abu Dhabi Grand Prix
GP3 qualifying, 10:15am
Formula 2, practice 11:30am
Formula 1, first practice, 1pm
GP3 qualifying session, 3.10pm
Formula 1 second practice, 5pm
Formula 2 qualifying, 7pm
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
Zayed Sustainability Prize
The biog:
From: Wimbledon, London, UK
Education: Medical doctor
Hobbies: Travelling, meeting new people and culturesÂ
Favourite animals: All of themÂ
The biog
Favourite food: Tabbouleh, greek salad and sushi
Favourite TV show: That 70s Show
Favourite animal: Ferrets, they are smart, sensitive, playful and loving
Favourite holiday destination: Seychelles, my resolution for 2020 is to visit as many spiritual retreats and animal shelters across the world as I can
Name of first pet: Eddy, a Persian cat that showed up at our home
Favourite dog breed: I love them all - if I had to pick Yorkshire terrier for small dogs and St Bernard's for big
Thor: Ragnarok
Dir: Taika Waititi
Starring: Chris Hemsworth, Tom Hiddleston, Cate Blanchett, Jeff Goldblum, Mark Ruffalo, Tessa Thompson
Four stars
COMPANY PROFILE
Company name: SimpliFi
Started: August 2021
Founder: Ali Sattar
Based: UAE
Industry: Finance, technology
Investors: 4DX, Rally Cap, Raed, Global Founders, Sukna and individuals
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
COMPANY PROFILE
Name: Rain Management
Year started: 2017
Based: Bahrain
Employees: 100-120
Amount raised: $2.5m from BitMex Ventures and Blockwater. Another $6m raised from MEVP, Coinbase, Vision Ventures, CMT, Jimco and DIFC Fintech Fund