KABUL // While many Afghans are fed up with the decade-long hunt for Osama bin Laden in their country, they also fear his death may prompt a withdrawal of foreign troops that will leave Afghanistan in chaos.
Reaction on the streets of Kabul to the news of bin Laden's death was mixed yesterday. Some Afghans expressed support for the US operation that killed bin Laden in Pakistan, but others referred to the terrorist leader as a martyr of the global jihad.
Osama bin Laden: Complete coverage of the killing of the world's most wanted terrorist.
Last Updated: May 3, 2010
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While some analysts speculated that American support for the war, already waning, would all but end with the al Qa'eda chief's death, US officials in Kabul moved to quell worries of an abrupt US withdrawal.
"We came here for bin Laden but we're staying for the Afghans," said a US military analyst, who wished to remain anonymous. "If we leave them hanging like we have in the past, it's going to be a bloodbath."
In a statement to the press, the US ambassador to Afghanistan, Karl Eikenberry, said: "This victory will not mark the end of our effort against terrorism. America's strong support for the people of Afghanistan will continue as before."
It was widely believed by Western military and political analysts that bin Laden was holed up along the Afghanistan-Pakistan border. Foreign troops led by the US continue to fight a Taliban insurgency there after invading Afghanistan in a bid to capture bin Laden after the September 11 attacks.
The Afghan Taliban, which hosted bin Laden in Afghanistan during the period he is believed to have planned the attacks on the World Trade Center and Pentagon in 2001, were silent on the bin Laden death. But the Pakistani Taliban, according to Reuters, threatened continued attacks against both the Pakistan and US governments.
Afghanistan's president, Hamid Karzai, praised US forces for killing bin Laden, but also lashed out at the Taliban, Pakistan, and his government's Western backers at a press conference yesterday in Kabul.
"This is a very important day. Maybe you have already heard on the television or on the radio that American forces have killed Osama bin Laden, delivering him his due punishment," Mr Karzai told an assembly of district government officials, prompting the hall to erupt in applause.
"But year after year, day after day, we have said the fighting against terrorism is not in the villages of Afghanistan, not among the poor people of Afghanistan," Mr Karzai said. "The fight against terrorism is in safe havens. It proves that Afghanistan was right."
He also called for the Taliban to lay down their arms, saying the insurgents "should learn a lesson", from the deadly raid on bin Laden's compound.
Analysts said bin Laden's death might make it easier for the Taliban - which has long had its fate tied to that of the al Qa'eda leader - to reconcile with the Afghan government.
The Taliban remains a largely home-grown insurgency aimed at toppling the US-backed government in Afghanistan. But al Qa'eda, born in the mujahideen camps of Afghanistan in the 1980s, is a terrorist network that has launched attacks on Western interests with the goal of creating a global theocratic state.
Natives of Afghanistan's Panjsher Valley, a bastion of resistance to the Taliban and where the beloved Afghan fighter, Ahmad Shah Massoud, is widely believed to have been assassinated by al Qa'eda operatives just two days before the September 11 attacks were elated by the news of bin Laden's death.
"We took revenge for the death of Massoud, and now we can all relax," said Shah Massoud, a relative of the fallen commander and Panjsher native said in Kabul.
A crowd that had gathered around Mr Massoud cheered in agreement. Local children handed out sweets in celebration.
"You are crazy to think we would not be happy, this is wonderful news. Long live America," Mr Massoud said.
In the dusty, middle-class neighbourhood of Karte Parwan, where one of bin Laden's al Qa'eda safe-houses once dominated the landscape, residents reflected on their memories of the Saudi native's brief, but notorious, stay here.
Shopkeepers and residents remember the militant and his close-knit band of Arab fighters as generous but solitary. Residents say al Qa'eda cell members forbade them from coming too close to the compound, but would donate fresh meat to the poor on Muslim holidays. Some residents recalled the men striding through the bazaar.
"I would slaughter animals for them in their garden, but they wouldn't allow me in the house," said Faqir Qandi Qasab, a local butcher who has lived in Karte Parwan for over 30 years. Mr Qasab could even find humour in the Arab strangers, joking, "They were good people, but they still owe me 60,000 Afghanis (Dh5,125) for the sheep. Who is going to pay the bill now?"
Afghan and Nato forces were on high alert yesterday after the announcement of bin Laden's death, warning of potential reprisal attacks due to an earlier Taliban statement declaring the start of its annual spring offensive on Sunday.
But there was a very different reaction at a local mosque nestled next to Nato's headquarters in Kabul, where worshippers expressed outrage at bin Laden's killing and were visibly upset by the news.
"According to Islam, if a Muslim is killed, anywhere in the world, we should share his pain," a brother of the mosque's imam, Walid, 30, said. "We should not celebrate this death; it is sad news for Muslims everywhere."
One resident of Kabul and self-proclaimed supporter of the US invasion of Afghanistan had some timely advice for the occupying US forces.
"It's nice, this news. I congratulate all Americans on killing this man," Hajji Marouf, 55, said of bin Laden. "But now the Americans can take their army and go home."
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Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
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Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh132,000 (Countryman)
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
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MATCH INFO
Uefa Champions League, last-16 second leg
Paris Saint-Germain (1) v Borussia Dortmund (2)
Kick-off: Midnight, Thursday, March 12
Stadium: Parc des Princes
Live: On beIN Sports HD
The essentials
What: Emirates Airline Festival of Literature
When: Friday until March 9
Where: All main sessions are held in the InterContinental Dubai Festival City
Price: Sessions range from free entry to Dh125 tickets, with the exception of special events.
Hot Tip: If waiting for your book to be signed looks like it will be timeconsuming, ask the festival’s bookstore if they have pre-signed copies of the book you’re looking for. They should have a bunch from some of the festival’s biggest guest authors.
Information: www.emirateslitfest.com
South Africa v India schedule
Tests: 1st Test Jan 5-9, Cape Town; 2nd Test Jan 13-17, Centurion; 3rd Test Jan 24-28, Johannesburg
ODIs: 1st ODI Feb 1, Durban; 2nd ODI Feb 4, Centurion; 3rd ODI Feb 7, Cape Town; 4th ODI Feb 10, Johannesburg; 5th ODI Feb 13, Port Elizabeth; 6th ODI Feb 16, Centurion
T20Is: 1st T20I Feb 18, Johannesburg; 2nd T20I Feb 21, Centurion; 3rd T20I Feb 24, Cape Town
The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
THREE POSSIBLE REPLACEMENTS
Khalfan Mubarak
The Al Jazira playmaker has for some time been tipped for stardom within UAE football, with Quique Sanchez Flores, his former manager at Al Ahli, once labelling him a “genius”. He was only 17. Now 23, Mubarak has developed into a crafty supplier of chances, evidenced by his seven assists in six league matches this season. Still to display his class at international level, though.
Rayan Yaslam
The Al Ain attacking midfielder has become a regular starter for his club in the past 15 months. Yaslam, 23, is a tidy and intelligent player, technically proficient with an eye for opening up defences. Developed while alongside Abdulrahman in the Al Ain first-team and has progressed well since manager Zoran Mamic’s arrival. However, made his UAE debut only last December.
Ismail Matar
The Al Wahda forward is revered by teammates and a key contributor to the squad. At 35, his best days are behind him, but Matar is incredibly experienced and an example to his colleagues. His ability to cope with tournament football is a concern, though, despite Matar beginning the season well. Not a like-for-like replacement, although the system could be adjusted to suit.
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ETFs have zero upfront fees and annual charges as low as 0.07 per cent a year, which means you get to keep more of your returns, as actively managed funds can charge as much as 1.5 per cent a year.
There are thousands to choose from, with the five biggest providers BlackRock’s iShares range, Vanguard, State Street Global Advisors SPDR ETFs, Deutsche Bank AWM X-trackers and Invesco PowerShares.
SPECS
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RESULTS
5pm: Maiden (PA) Dh80,000 1,200m
Winner: Shafaf, Sam Hitchcott (jockey), Ahmed Al Mehairbi (trainer)
5,30pm: Wathba Stallions Cup Handicap (PA) Dh70,000 1,200m
Winner: Noof KB, Tadhg O’Shea, Ernst Oertel
6pm: The President’s Cup Listed (TB) Dh380,000 1,400m
Winner: Taamol, Jim Crowley, Ali Rashid Al Raihe
6.30pm: The President’s Cup Group One (PA) Dh2,500,000 2,200m
Winner: Rmmas, Tadhg O’Shea, Jean de Roualle
7pm: Arabian Triple Crown Listed (PA) Dh230,000 1,600m
Winner: Ihtesham, Szczepan Mazur, Ibrahim Al Hadhrami
7.30pm: Handicap (PA) Dh80,000 1,400m
Winner: AF Mekhbat, Antonio Fresu, Ernst Oertel
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Engine: Dual 180kW and 300kW front and rear motors
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The Saga Continues
Wu-Tang Clan
(36 Chambers / Entertainment One)
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UEFA CHAMPIONS LEAGUE FIXTURES
All kick-off times 10.45pm UAE ( 4 GMT) unless stated
Tuesday
Sevilla v Maribor
Spartak Moscow v Liverpool
Manchester City v Shakhtar Donetsk
Napoli v Feyenoord
Besiktas v RB Leipzig
Monaco v Porto
Apoel Nicosia v Tottenham Hotspur
Borussia Dortmund v Real Madrid
Wednesday
Basel v Benfica
CSKA Moscow Manchester United
Paris Saint-Germain v Bayern Munich
Anderlecht v Celtic
Qarabag v Roma (8pm)
Atletico Madrid v Chelsea
Juventus v Olympiakos
Sporting Lisbon v Barcelona
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
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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 POPE'S ITINERARY
Sunday, February 3, 2019 - Rome to Abu Dhabi
1pm: departure by plane from Rome / Fiumicino to Abu Dhabi
10pm: arrival at Abu Dhabi Presidential Airport
Monday, February 4
12pm: welcome ceremony at the main entrance of the Presidential Palace
12.20pm: visit Abu Dhabi Crown Prince at Presidential Palace
5pm: private meeting with Muslim Council of Elders at Sheikh Zayed Grand Mosque
6.10pm: Inter-religious in the Founder's Memorial
Tuesday, February 5 - Abu Dhabi to Rome
9.15am: private visit to undisclosed cathedral
10.30am: public mass at Zayed Sports City – with a homily by Pope Francis
12.40pm: farewell at Abu Dhabi Presidential Airport
1pm: departure by plane to Rome
5pm: arrival at the Rome / Ciampino International Airport
COMPANY%20PROFILE
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