Thousands of emergency shelters, water purifiers and hygiene kits from the UK left Dubai for Pakistan on Tuesday.
The aid items were paid for by the British government as part of a £41.5 million (Dh163m) pledge to support millions of people displaced by floods in Pakistan.
Emergency shelters are intended for up to 187,050 people while water filters and hygiene supplies should be enough for up to 31,282 people.
Pallets loaded up into shipping containers will arrive in Karachi within five days and life-saving supplies will be delivered to the worst affected areas.
Catastrophic flooding in Pakistan has left more than 250,000 square kilometres of land submerged, displacing 33 million people and destroying huge stretches of farmland as global food prices rice.
The kits being sent to Pakistan are tailored to what people need. It is a highly efficient operation
Patrick Moody,
British Ambassador to the UAE
More than 1,600 people have been killed and about 2 million homes have been destroyed.
Heavy monsoon rains that fell in mid-June added to a severe heatwave that melted glaciers and caused flooding across the country.
Central to the UK-funded relief operation is the Modern Freight Company in the Jebel Ali Free Zone, which has been working with the British government to deliver aid to disaster zones around the world since 2005.
The Dubai storage facility houses 80 per cent of all the UK’s global humanitarian aid, due to its prime location offering ease of access to global disaster hotspots.
“Dubai is an efficient global hub that allows us to act speedily during times of crisis,” said Patrick Moody, British ambassador to the UAE.
“We have given £16.5 million directly from the government, £25m from the British people themselves — they consistently do this to top up what the government is already doing when disasters happen.
“The UAE’s We Stand Together initiative is working well and shows the importance of strong partnerships.
“The British government is committed to this kind of action, and humanitarian work will continue to be one of our bedrocks, although we would like to solve the problems that cause these disasters in the first place.”
UAE and UK work together to deliver aid
A financial appeal by the United Nations and Pakistan for help has been answered by the UK and UAE governments, which are working in partnership to deliver aid where it is most needed.
The World Bank has also committed $2 billion (Dh7.3bn) in aid for recovery efforts.
Around £10m (Dh39.5m) of the money raised by the UK’s Disasters Emergency Committee will go to international aid agencies on the ground to provide water, sanitation and shelter.
Funds will also support families to repair their homes and maintain their livelihoods.
An initial £1.5m (Dh5.9m) pledged by the UK has already been used to assist at least 15,000 families, offer primary health care support through mobile medical camps and provide some 4,000 hygiene kits.
Support has also been sent out directly from the UK to aid the Pakistan military in relief efforts and includes eight mark six assault boats and 10 portable generators.
“Like the UAE, humanitarian work is key to our engagement with the outside world and that will continue despite the tightening of belts,” said Mr Moody.
“Our partnerships here are key, and we agree on the kind of work that is needed in the humanitarian sector, on climate change and investment in Africa.
“The kits being sent to Pakistan are tailored to what people need. It is a highly efficient operation.”
The Modern Freight Company receives containers by sea and air, which are then stored in warehouses in Jebel Ali Free Zone.
It has 2,500 pallet locations with 19,000 cubic metres of storage, 4,000 of which are used by the UK government.
“This is a fast response operation. Usually, we have to ship items out within 48 hours,” said Sunil Anto, manager of operations at Modern Freight Company.
“We can often have two flights loaded with goods coming into the UAE on pallets, so we have to manage that and mobilise as quickly as possible.”
DP World donation
The DP World Foundation has also pledged substantial support for flood-affected areas following a recent meeting with the company's chief executive Sultan Ahmed bin Sulayem and Pakistan’s President Arif Alvi in the country.
DP World has donated $1m (Dh3.67m) to the Pakistan Army Fund for Flood Affectees, and has pledged another $1.5m in relief items, including shelters, medication, food items, and cooking utensils.
Warehousing space at DP World’s facilities in Karachi has been set aside for logistics support.
“The devastation and impact on Pakistan are heartbreaking,” said Mr bin Sulayem.
“Visiting areas affected by natural disasters always forces you to put things into perspective as you try to fathom the enormity of the situation.
“It could be months before we understand the scale of the damage.
“However, for now, we must look at the most efficient ways to extend relief to aid local communities in distress.”
Pakistan floods - in pictures
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Alexander Zverev (x3)
Marin Cilic (x5)
John Isner (x8)
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Roger Federer (x2)
Kevin Anderson (x4)
Dominic Thiem (x6)
Kei Nishikori (x7)
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%3Cp%3ECreators%3A%20Neil%20Gaiman%2C%20David%20Goyer%2C%20Allan%20Heinberg%3C%2Fp%3E%0A%3Cp%3EStars%3A%20Tom%20Sturridge%2C%20Boyd%20Holbrook%2C%20Jenna%20Coleman%20and%20Gwendoline%20Christie%3C%2Fp%3E%0A%3Cp%3ERating%3A%204%2F5%3C%2Fp%3E%0A
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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%3Cp%3E%3Cstrong%3ECreator%3A%20%3C%2Fstrong%3ENetflix%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3EKris%20Fade%2C%20Ebraheem%20Al%20Samadi%2C%20Zeina%20Khoury%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%202%2F5%3C%2Fp%3E%0A
The%20Afghan%20connection
%3Cp%3EThe%20influx%20of%20talented%20young%20Afghan%20players%20to%20UAE%20cricket%20could%20have%20a%20big%20impact%20on%20the%20fortunes%20of%20both%20countries.%20Here%20are%20three%20Emirates-based%20players%20to%20watch%20out%20for.%0D%3Cbr%3E%20%0D%3Cbr%3E%3Cstrong%3EHassan%20Khan%20Eisakhil%3C%2Fstrong%3E%0D%3Cbr%3EMohammed%20Nabi%20is%20still%20proving%20his%20worth%20at%20the%20top%20level%20but%20there%20is%20another%20reason%20he%20is%20raging%20against%20the%20idea%20of%20retirement.%20If%20the%20allrounder%20hangs%20on%20a%20little%20bit%20longer%2C%20he%20might%20be%20able%20to%20play%20in%20the%20same%20team%20as%20his%20son%2C%20Hassan%20Khan.%20The%20family%20live%20in%20Ajman%20and%20train%20in%20Sharjah.%0D%3Cbr%3E%20%0D%3Cbr%3E%3Cstrong%3EMasood%20Gurbaz%3C%2Fstrong%3E%0D%3Cbr%3EThe%20opening%20batter%2C%20who%20trains%20at%20Sharjah%20Cricket%20Academy%2C%20is%20another%20player%20who%20is%20a%20part%20of%20a%20famous%20family.%20His%20brother%2C%20Rahmanullah%2C%20was%20an%20IPL%20winner%20with%20Kolkata%20Knight%20Riders%2C%20and%20opens%20the%20batting%20with%20distinction%20for%20Afghanistan.%0D%3Cbr%3E%20%0D%3Cbr%3E%3Cstrong%3EOmid%20Rahman%3C%2Fstrong%3E%0D%3Cbr%3EThe%20fast%20bowler%20became%20a%20pioneer%20earlier%20this%20year%20when%20he%20became%20the%20first%20Afghan%20to%20represent%20the%20UAE.%20He%20showed%20great%20promise%20in%20doing%20so%2C%20too%2C%20playing%20a%20key%20role%20in%20the%20senior%20team%E2%80%99s%20qualification%20for%20the%20Asia%20Cup%20in%20Muscat%20recently.%0D%3Cbr%3E%3C%2Fp%3E%0A
What sanctions would be reimposed?
Under ‘snapback’, measures imposed on Iran by the UN Security Council in six resolutions would be restored, including:
- An arms embargo
- A ban on uranium enrichment and reprocessing
- A ban on launches and other activities with ballistic missiles capable of delivering nuclear weapons, as well as ballistic missile technology transfer and technical assistance
- A targeted global asset freeze and travel ban on Iranian individuals and entities
- Authorisation for countries to inspect Iran Air Cargo and Islamic Republic of Iran Shipping Lines cargoes for banned goods
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
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'Cheb%20Khaled'
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