Life after catastrophe



The world is responding to the horror of Haiti's earthquake, but rebuilding a country and the lives of its people is a formidable task that can take decades. Suryatapa Bhattacharya looks at lessons learnt from previous disasters. As Haiti faces one of its biggest-ever natural disasters, aid agencies are rushing to provide immediate emergency relief. As has been the case with other recent catastrophes around the world - from South Asia to West Africa - the chances of long-term redevelopment and recovery are dependent as much on what happens in the immediate aftermath as in the continued support of the international community.

After an earthquake in the Indian state of Gujarat in 2001, which measured 7.9 on the Richter scale, thousands were left dead and millions homeless. What followed was a reconstruction effort that is now being held up as a model to deal with natural disasters. Children were vaccinated early on against deadly contagious diseases, while reconstruction efforts included building earthquake-resistant houses.

In Port-au-Prince, the capital of Haiti, the damage to infrastructure has been immense, since its overwhelmingly poor population lived in crowded, shanty towns or shoddily built cement homes. Like Turkey, Haiti sits on a fault line that leaves it open to future earthquakes and more catastrophe unless there is a concerted government effort to impose strict building codes. Another area of concern for aid agencies is donor apathy. Haiti is one of the world's poorest countries and has already seen its fair share of upheavals; floods, tropical storms and political rioting. Comparisons have been made with West Africa, where flooding over the past three years has exhausted the international community, leading to funding shortfalls and what one aid organisation called "a forgotten disaster".

Will the world - once the dust has settled and the satellite news lorries have left - turn its back on Haiti? "The concern is long-term reconstruction," said Stephanie Bunker, a spokeswoman with the UN Office for the Co-ordination of Humanitarian Affairs in New York. "It is impossible to predict but I am hopeful that the visibility of this crisis, that this time, we will get significant amounts." The UN yesterday launched a "flash appeal" for US$550 million and Ms Bunker said that already a significant amount has been pledged.

Ms Bunker said the "tremendous" response by donors after the 2004 Indian Ocean tsunami wiped out entire towns and villages in 12 countries helped fuel immediate and long-term reconstruction. "With Haiti," Ms Bunker said, "I only hope the same thing will prevail." Some aid agencies, such as Oxfam, specialise in emergency response, while others such as ActionAid focus on trauma counselling for children. Yet others, such as the UN's Food and Agriculture Organization (FAO), are looking into medium- and long-term plans to reinstate agricultural practices by providing support to farmers - rural and urban - after they have evaluated the environmental damage caused to farmlands in and around Port-au-Prince.

"They are very dependent on key support from agencies and in addition to structural problems in the area, they have been hit by a lot of disasters," said Sarah Gillam, the international head of media and images with ActionAid. "We are appealing for money so we can purchase locally made products wherever possible." One of ActionAid's priorities in disasters such as the Boxing Day tsunami and the Haiti earthquake is making sure children and young people recover from the shock. For example, children tend to emulate adults and she said they are worried about the young scavenging through the rubble looking for survivors.

"The longer you leave it, the more damaging it will be," said Ms Gillam from London, before she boarded a flight for Haiti. Like their relief efforts in Bangladesh, where they have assisted children displaced or orphaned by frequent flooding and cyclones, the organisation will enrol children in a "disaster risk reduction project", where they will learn how to respond to a natural disaster. In Bangladesh, children were taught to move livestock to higher ground and inform their parents.

In Haiti, ActionAid plans to engage children in drawing, playing and storytelling to distract them from the immediate trauma before embarking on a more long-term course about responding to earthquakes. "It is hard to say at this point how long it will take the country to recover," she said. "The NGO reports that are coming out say they have not seen anything like this before. It is one of the biggest disasters to hit the country."

Early estimates stated that up to a third of the country's population may have been affected by the earthquake. Kayan Jaff, based in Abu Dhabi and the UN head of mission of FAO and the UN resident co-ordinator in the UAE and Qatar, said that medium and long-term redevelopment work was already underway in Haiti. As he tried to mobilise cargo planes from Dubai to carry equipment for immediate relief, such as lightweight tents, buckets, mosquito nets and collapsible jerry cans, Mr Jaff said FAO representatives were "joining the international rescue and operations team to assess the impact of the earthquake and over the weeks and months to come, FAO will play the role to fully rehabilitate and reconstruct efforts of agriculture."

"The issue really is food security," he said. Once the initial assessment takes place, various teams at the UN will co-ordinate efforts to redevelop the farm land in and around the capital by providing tools so they can farm again. Haiti has three growing seasons, where mostly small scale agriculture of staples such as maize and wheat, along with bananas, sugarcane and tropical vegetables and fruits are grown.

"We will give them all the means they need to restart their agriculture," said Mr Jaff. "Farming plays a very important role in Haiti." sbhattacharya@thenational.ae

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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.”

Call of Duty: Black Ops 6

Developer: Treyarch, Raven Software
Publisher:  Activision
Console: PlayStation 4 & 5, Windows, Xbox One & Series X/S
Rating: 3.5/5

The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

Paatal Lok season two

Directors: Avinash Arun, Prosit Roy 

Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong

Rating: 4.5/5

UAE%20v%20West%20Indies
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COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
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COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
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

How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

The specs

AT4 Ultimate, as tested

Engine: 6.2-litre V8

Power: 420hp

Torque: 623Nm

Transmission: 10-speed automatic

Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)

On sale: Now

 

 

How to watch Ireland v Pakistan in UAE

When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.

Naga
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COMPANY PROFILE
Name: Mamo 

 Year it started: 2019 Founders: Imad Gharazeddine, Asim Janjua

 Based: Dubai, UAE

 Number of employees: 28

 Sector: Financial services

 Investment: $9.5m

 Funding stage: Pre-Series A Investors: Global Ventures, GFC, 4DX Ventures, AlRajhi Partners, Olive Tree Capital, and prominent Silicon Valley investors. 

 

Company profile

Name: Fruitful Day

Founders: Marie-Christine Luijckx, Lyla Dalal AlRawi, Lindsey Fournie

Based: Dubai, UAE

Founded: 2015

Number of employees: 30

Sector: F&B

Funding so far: Dh3 million

Future funding plans: None at present

Future markets: Saudi Arabia, potentially Kuwait and other GCC countries

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Joe Root's Test record

Tests: 53; Innings: 98; Not outs: 11; Runs: 4,594; Best score: 254; Average: 52.80; 100s: 11; 50s: 27

Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
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