A picture of US Airman Aaron Bushnell at a vigil in Times Square, New York City, on February 27, along with a picture of a Palestinian family and a list of names of Palestinians, now over 30,000, killed in the war. Getty Images via AFP
A picture of US Airman Aaron Bushnell at a vigil in Times Square, New York City, on February 27, along with a picture of a Palestinian family and a list of names of Palestinians, now over 30,000, killed in the war. Getty Images via AFP
A picture of US Airman Aaron Bushnell at a vigil in Times Square, New York City, on February 27, along with a picture of a Palestinian family and a list of names of Palestinians, now over 30,000, killed in the war. Getty Images via AFP
A picture of US Airman Aaron Bushnell at a vigil in Times Square, New York City, on February 27, along with a picture of a Palestinian family and a list of names of Palestinians, now over 30,000, kill


Aaron Bushnell's final act and the suffering in Gaza


The National
  • English
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March 01, 2024

With reference to the editorial Aaron Bushnell's self-immolation reflects the tragedy of inaction over Gaza (February 27): Aaron's act of protest, although extreme, reveals the intense psychological suffering that millions are experiencing around the world as they witness, on a daily basis, Israel, supported by the US, constantly bombard the Palestinian people in Gaza.

Deepest condolences to the family and friends of this young man, who in this final act, showed a depth of compassion for his fellow human beings. May he rest in eternal peace.

Michael Jattan, Blanchisseuse, Trinidad and Tobago

Desperate food shortages in Gaza

With reference to Nagham Mohanna and Mina Aldroubi's report Two-month-old baby dies of malnutrition amid UN warning of 'explosion' in child deaths (February 25): What is the world doing about this? It is not enough to hear that a potential ceasefire might happen with yet more rounds of talks. The atrocities and deaths have to stop. There must be an immediate and permanent peace. It is a horrible reality that babies are dying because there is just no milk and food.

Leila Almaeena, Abu Dhabi

How to countering the counterfeits

With regard to the editorial The Middle East is a Wild West for intellectual property (February 23): this highlighted an alarming scenario that has gotten more complicated with advancements in technology. Counterfeit goods are a threat to several industries and to genuine brands. Since there are many online buying sites, it can be challenging to determine the identity and origin of products.

The use-and-throw mentality of some people has to an extent replaced traditional buying. So some consumers no longer consider the quality of the goods as they once used to, perhaps. As stated in the report, authorities could find it increasingly difficult to recognise authentic products due to savvy use of technology. A regionally co-ordinated effort could assist resolve these problems to a degree. To prevent the import of fake goods, legal frameworks also need to be tightened.

Ramachandran Nair, Muscat, Oman

A milestone in India's space history

With reference to Taniya Dutta's article India introduces four-member crew for its Gaganyaan space mission (February 27): The first trip to space by the four Air Force officers is another milestone in India's post-Independence history. As the Prime Minister rightly said, this crew reflects the optimism, hope and aspirations of 1.4 billion Indians. The country has dramatically developed in the space arena thanks to the brilliant scientists. Wishing the crew every success in this mission.

K Ragavan, Bengaluru, India

Desert Warrior

Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

What are the main cyber security threats?

Cyber crime - This includes fraud, impersonation, scams and deepfake technology, tactics that are increasingly targeting infrastructure and exploiting human vulnerabilities.
Cyber terrorism - Social media platforms are used to spread radical ideologies, misinformation and disinformation, often with the aim of disrupting critical infrastructure such as power grids.
Cyber warfare - Shaped by geopolitical tension, hostile actors seek to infiltrate and compromise national infrastructure, using one country’s systems as a springboard to launch attacks on others.

DEADPOOL & WOLVERINE

Starring: Ryan Reynolds, Hugh Jackman, Emma Corrin

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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.”

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How to help

Send “thenational” to the following numbers or call the hotline on: 0502955999
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The studios taking part (so far)
  1. Punch
  2. Vogue Fitness 
  3. Sweat
  4. Bodytree Studio
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AUSTRALIA SQUADS

ODI squad: Aaron Finch (captain), Ashton Agar, Alex Carey, Pat Cummins, Josh Hazlewood, Marnus Labuschagne, Mitchell Marsh, Glenn Maxwell, Kane Richardson, Steve Smith, Mitchell Starc, Matthew Wade, David Warner, Adam Zampa

Twenty20 squad: Aaron Finch (captain), Sean Abbott, Ashton Agar, Alex Carey, Pat Cummins, Mitchell Marsh, Glenn Maxwell, Jhye Richardson, Kane Richardson, Steve Smith, Mitchell Starc, Matthew Wade, David Warner, Adam Zampa

UAE SQUAD

Mohammed Naveed (captain), Rohan Mustafa, Ashfaq Ahmed, Rameez Shahzad, Shaiman Anwar, Mohammed Usman, Mohammed Boota, Zawar Farid, Ghulam Shabber, Ahmed Raza, Sultan Ahmed, Imran Haider, Qadeer Ahmed, Chirag Suri , Zahoor Khan

Company%20profile
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Dubai World Cup factbox

Most wins by a trainer: Godolphin’s Saeed bin Suroor(9)

Most wins by a jockey: Jerry Bailey(4)

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Most wins by a horse: Godolphin’s Thunder Snow(2)

Updated: March 01, 2024, 3:00 AM