Somali security forces and others gather and search for bodies near destroyed buildings at the scene of Saturday's blast, in Mogadishu, Somalia. Farah Abdi Warsameh / AP Photo
Somali security forces and others gather and search for bodies near destroyed buildings at the scene of Saturday's blast, in Mogadishu, Somalia. Farah Abdi Warsameh / AP Photo

UAE

UAE to cover treatment cost for 100 Somalis injured in bombing

Children injured in the attack will also be cared for and medical supplies sent to hospitals in Mogadishu

The National

October 19, 2017

The UAE will cover treatment costs for 100 Somalis injured in Saturday's massive truck bomb in Mogadishu and will care for the children injured in the attacks.

President Sheikh Khalifa also ordered the delivery of  urgent medical supplies and medicine to Somali hospitals to help increase their capacity to treat the injured.

The aid is also in response to directives from Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, and with the support of Sheikh Hamdan bin Zayed, Ruler's Representative in Al Dhafra and President of Emirates Red Crescent.

More than 300 people were killed and scores are still missing after one of the world's deadliest attacks in years hit the Somali capital on Saturday.

The same day, members of the UAE diplomatic mission at the UAE Embassy in Somalia donated blood to help those injured.

The Sheikh Zayed Hospital in the capital also received dozens of the wounded with medical staff treating various injuries, news agency Wam reported.

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Read more:

National Editorial: Somalia needs our support and our sympathy

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The ERC has begun arrangements and co-ordinating with the UAE Embassy in Mogadishu to airlift seriously injured Somalis to Kenya for medical treatment. The ERC said it would do whatever it takes to provide healthcare to those injured and alleviate their suffering and comfort their families.

''The leadership's directives came within the UAE’s humanitarian efforts to alleviate the suffering of the Somali people and improve their humanitarian conditions,'' Sheikh Hamdan said.

''The UAE leadership has been following with grave concern the evolving developments in Somalia given the tragic consequences on the Somali people who have been experiencing scourges of conflicts and disasters,'' he said.

''The ERC will spare no effort to undertake its humanitarian duty towards the Somali people until their plight is over,'' he said.

Sheikh Hamdan also said the ERC would take care of 300 orphans, who lost their families in the explosions, for six months, after which they will be included in the orphans’ sponsorship programme.

The UAE provides significant support to Somalia, especially in humanitarian, educational, and health fields.

In April, an Emirates Red Crescent convoy was hit by a bomb in Mogadishu but its team escaped without injury.

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While you're here
UAE currency: the story behind the money in your pockets
The specs
Engine: 77.4kW all-wheel-drive dual motor
Power: 320bhp
Torque: 605Nm
Transmission: Single-speed automatic
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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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Tips for taking the metro

- set out well ahead of time

- make sure you have at least Dh15 on you Nol card, as there could be big queues for top-up machines

- enter the right cabin. The train may be too busy to move between carriages once you're on

- don't carry too much luggage and tuck it under a seat to make room for fellow passengers

How to apply for a drone permit
  • Individuals must register on UAE Drone app or website using their UAE Pass
  • Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
  • Upload the training certificate from a centre accredited by the GCAA
  • Submit their request
What are the regulations?
  • Fly it within visual line of sight
  • Never over populated areas
  • Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
  • Users must avoid flying over restricted areas listed on the UAE Drone app
  • Only fly the drone during the day, and never at night
  • Should have a live feed of the drone flight
  • Drones must weigh 5 kg or less
Ticket prices
  • Golden circle - Dh995
  • Floor Standing - Dh495
  • Lower Bowl Platinum - Dh95
  • Lower Bowl premium - Dh795
  • Lower Bowl Plus - Dh695
  • Lower Bowl Standard- Dh595
  • Upper Bowl Premium - Dh395
  • Upper Bowl standard - Dh295
UAE currency: the story behind the money in your pockets
The specs

Engine: 1.5-litre 4-cylinder petrol

Power: 154bhp

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Transmission: 7-speed automatic with 8-speed sports option 

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Tariq Ismail (CAN) bt Jalal Al Daaja (JOR)

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Mohammad Fakhreddine (LEB) bt Christofer Silva (BRA)

Middleweight:
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Welterweight:
Khamzat Chimaev (SWE) bt Mzwandile Hlongwa (RSA)

Lightweight:
Alex Martinez (CAN) bt Anas Siraj Mounir (MAR)

Welterweight:
Jarrah Al Selawi (JOR) bt Abdoul Abdouraguimov (FRA)

Did you know?

Brunch has been around, is some form or another, for more than a century. The word was first mentioned in print in an 1895 edition of Hunter’s Weekly, after making the rounds among university students in Britain. The article, entitled Brunch: A Plea, argued the case for a later, more sociable weekend meal. “By eliminating the need to get up early on Sunday, brunch would make life brighter for Saturday night carousers. It would promote human happiness in other ways as well,” the piece read. “It is talk-compelling. It puts you in a good temper, it makes you satisfied with yourself and your fellow beings, it sweeps away the worries and cobwebs of the week.” More than 100 years later, author Guy Beringer’s words still ring true, especially in the UAE, where brunches are often used to mark special, sociable occasions.

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