The UAE's field hospital that opened in the Gaza Strip this week has treated its first patients.
The first two cases involved Palestinians who arrived at the hospital with severe fractures, state news agency Wam reported.
A 17-year-old boy came to the hospital with a fractured right ankle and an open wound on his right knee. The second patient was a 13 year old with a fractured leg.
Both were operated on by an Emirati team of specialised doctors.
The field hospital opened on Saturday in the Gaza Strip as part of the Gallant Knight 3 humanitarian operation ordered by President Sheikh Mohamed.
Medical teams from the Emirates will provide aid and treatment to Gaza's injured residents.
The 150-bed hospital features several departments focused on caring for adults and children.
The hospital will be used for general surgery and orthopaedics, and will offer anaesthetic services and intensive care for children and adults.
It also offers internal medicine, dentistry, family medicine and psychiatric treatment.
The UAE on Sunday sent additional emergency relief aid comprising shelter materials and basic food items.
The delivery was made by the Emirates Red Crescent and was distributed to the most affected areas in Gaza.
The Emirates has offered humanitarian support on the ground and delivered crucial aid to help the Palestinian people since the war broke out.
On Saturday, 77 patients – accompanied by 43 family members – were evacuated from Gaza and transported to the Emirates from El Arish Airport in Egypt.
They landed at Abu Dhabi International Airport and were transported to local hospitals.
They are the fourth group of Gazans to arrive in the Emirates for treatment in the country's hospitals under a humanitarian initiative aimed at delivering support and solidarity to the Palestinian people amid the Israel-Gaza war.
President Sheikh Mohamed announced the UAE would provide treatment for 1,000 injured Palestinian children and 1,000 cancer patients as part of the relief campaign.
Donation drives and aid collection campaigns have also been held across the UAE.
Israel resumed its strikes on Gaza on Friday morning, causing at least 190 civilian deaths and about 589 injuries, according to Gaza's Health Ministry.
A humanitarian pause began in Gaza on November 24 as part of a deal between Israel and Hamas, brokered by Qatar and Egypt.
The two sides agreed temporarily to halt fighting to allow a hostage swap and increased aid deliveries.
Renewed misery in Gaza as Israel recommences air strikes – in pictures
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Nepotism is the name of the game
Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad.
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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.”
The Beach Bum
Director: Harmony Korine
Stars: Matthew McConaughey, Isla Fisher, Snoop Dogg
Two stars
TCL INFO
Teams:
Punjabi Legends Owners: Inzamam-ul-Haq and Intizar-ul-Haq; Key player: Misbah-ul-Haq
Pakhtoons Owners: Habib Khan and Tajuddin Khan; Key player: Shahid Afridi
Maratha Arabians Owners: Sohail Khan, Ali Tumbi, Parvez Khan; Key player: Virender Sehwag
Bangla Tigers Owners: Shirajuddin Alam, Yasin Choudhary, Neelesh Bhatnager, Anis and Rizwan Sajan; Key player: TBC
Colombo Lions Owners: Sri Lanka Cricket; Key player: TBC
Kerala Kings Owners: Hussain Adam Ali and Shafi Ul Mulk; Key player: Eoin Morgan
Venue Sharjah Cricket Stadium
Format 10 overs per side, matches last for 90 minutes
When December 14-17
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