18 fighters killed in 24 hours of intensified clashes in south-west Yemen



ADEN // Eighteen fighters have been killed in 24 hours in intensified confrontations between Yemeni government forces and Houthi rebels on the south-western coast of the country, military officials and medical sources said on Wednesday.

Clashes have raged as government forces, backed by warplanes from a Saudi-led coalition, push to seize rebel positions east of the government-held Red Sea town of Mokha.

Medical sources in the rebel-controlled port city of Hodeidah said 15 insurgents had been killed in battles and coalition air strikes in the past 24 hours, while military sources in Aden, the government’s temporary base away from the rebel-controlled capital, Sanaa, said three soldiers had died in combat.

Forces loyal to president Abdrabu Mansour Hadi captured Mokha in February as part of a major continuing offensive that aims to drive rebels from the lengthy Red Sea coastline.

Coalition spokesman Brigadier General Ahmed Al Assiri on Wednesday said current operations aim to clear the route east of Mokha towards the flashpoint city of Taez, where loyalists are surrounded by rebels. The Khalid bin Al Waleed military base is on the road between Mokha and Taez with a “strong presence” of Houthis and allied renegade troops loyal to former president Ali Abdullah Saleh.

“It is a difficult area,” Gen Al Assiri said. However, Hodeidah was not a priority for the moment for Yemni forces advancing northwards, he added.

“Hodeidah is far. Not now,” he said. “We should cover our back. The priority is east of Mokha, then comes the north. It is not feasible to launch an offensive towards Hodeidah now,” he added.

Five Sudanese soldiers were killed in the same zone, known as Jabal Al Nar, fighting for the Saudi-led Arab coalition against the Shiite rebels in Yemen.

Sudan joined the Sunni coalition led by Saudi Arabia in 2015 after breaking decades-old ties with Tehran. The Sudanese military has largely refrained from offering details of its operations within the coalition or of casualties it has suffered in the conflict so far.

But in a rather rare announcement from Khartoum late on Tuesday, Brigadier Ahmed Kahlifa Al Shami of the Sudanese army said it had lost five troops in Yemen, including an officer, and 22 soldiers were wounded. Without offering details, he said Sudanese forces had completed their “first stage of duty” in Yemen and were now preparing to launch the second stage.

“Our troops in Yemen have captured all the areas targeted in the first stage, inflicted big losses on the enemy and are holding many prisoners of war,” Khalifa said.

The Saudi-led coalition also comprises the Gulf monarchies Bahrain, Kuwait, Qatar and the United Arab Emirates along with Egypt, Jordan, Morocco and Sudan.

According to the UN, the fighting has killed more than 7,700 people, displaced more than three million people, and more than two thirds of Yemen’s population of around 18.8 million people need aid.

Some 7.3 million people are estimated to be close to starvation and 462,000 children suffer from serious malnutrition. Without $2.1 billion in international aid, the UN warns that Yemen will suffer a famine in 2017

* Agence France-Presse

Brief scores

Toss India, chose to bat

India 281-7 in 50 ov (Pandya 83, Dhoni 79; Coulter-Nile 3-44)

Australia 137-9 in 21 ov (Maxwell 39, Warner 25; Chahal 3-30)

India won by 26 runs on Duckworth-Lewis Method

BRAZIL SQUAD

Goalkeepers: Alisson, Ederson, Weverton

Defenders: Dani Alves, Marquinhos, Thiago Silva, Eder Militao , Danilo, Alex Sandro, Alex Telles, Bremer.

Midfielders: Casemiro, Fred, Fabinho, Bruno Guimaraes, Lucas Paqueta, Everton Ribeiro.

Forwards: Neymar, Vinicius Junior, Richarlison, Raphinha, Antony, Gabriel Jesus, Gabriel Martinelli, Pedro, Rodrygo

Company Profile

Company name: Namara
Started: June 2022
Founder: Mohammed Alnamara
Based: Dubai
Sector: Microfinance
Current number of staff: 16
Investment stage: Series A
Investors: Family offices

Company Profile

Company name: Cargoz
Date started: January 2022
Founders: Premlal Pullisserry and Lijo Antony
Based: Dubai
Number of staff: 30
Investment stage: Seed

DUBAI BLING: EPISODE 1

Creator: Netflix

Stars: Kris Fade, Ebraheem Al Samadi, Zeina Khoury

Rating: 2/5

The years Ramadan fell in May

1987

1954

1921

1888

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Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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Director: Richie Mehta

Starring: Nimisha Sajayan, Roshan Mathew, Dibyendu Bhattacharya

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Libya's Gold

UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves.

The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.

Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.

A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.

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Heidi Sopinka
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COMPANY PROFILE

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Started: 2013
Co-founders: Ibrahim Imam, Sander van de Rijdt, Constantin Köck, Clemens Hammerl, Domagoj Dolinsek
Based: Vienna, Austria
Sector: Construction and real estate
Current number of staff: 400+
Investment stage: Series B
Investors: Headline, Berliner Volksbank Ventures, aws Gründerfonds, Cavalry Ventures, Proptech1, Russmedia, GR Capital

The years Ramadan fell in May

1987

1954

1921

1888

Champion v Champion (PFL v Bellator)

Heavyweight: Renan Ferreira v Ryan Bader
Middleweight: Impa Kasanganay v Johnny Eblen
Featherweight: Jesus Pinedo v Patricio Pitbull
Catchweight: Ray Cooper III v Jason Jackson

Showcase Bouts
Heavyweight: Bruno Cappelozza (former PFL World champ) v Vadim Nemkov (former Bellator champ)
Light Heavyweight: Thiago Santos (PFL title contender) v Yoel Romero (Bellator title contender)
Lightweight: Clay Collard (PFL title contender) v AJ McKee (former Bellator champ)
Featherweight: Gabriel Braga (PFL title contender) v Aaron Pico (Bellator title contender)
Lightweight: Biaggio Ali Walsh (pro debut) v Emmanuel Palacios (pro debut)
Women’s Lightweight: Claressa Shields v Kelsey DeSantis
Featherweight: Abdullah Al Qahtani v Edukondal Rao
Amateur Flyweight: Malik Basahel v Vinicius Pereira

THE SCORES

Ireland 125 all out

(20 overs; Stirling 72, Mustafa 4-18)

UAE 125 for 5

(17 overs, Mustafa 39, D’Silva 29, Usman 29)

UAE won by five wickets

Indian origin executives leading top technology firms

Sundar Pichai

Chief executive, Google and Alphabet

Satya Nadella

Chief executive, Microsoft

Ajaypal Singh Banga

President and chief executive, Mastercard

Shantanu Narayen

Chief executive, chairman, and president, Adobe

Indra Nooyi  

Board of directors, Amazon and former chief executive, PepsiCo

 

 

COMPANY PROFILE

Company name: Revibe
Started: 2022
Founders: Hamza Iraqui and Abdessamad Ben Zakour
Based: UAE
Industry: Refurbished electronics
Funds raised so far: $10m
Investors: Flat6Labs, Resonance and various others

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.

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“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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ASIAN RUGBY CHAMPIONSHIP 2024

Results
Hong Kong 52-5 UAE
South Korea 55-5 Malaysia
Malaysia 6-70 Hong Kong
UAE 36-32 South Korea

Fixtures
Friday, June 21, 7.30pm kick-off: UAE v Malaysia
At The Sevens, Dubai (admission is free).
Saturday: Hong Kong v South Korea

MATCH INFO

Bangla Tigers 108-5 (10 ovs)

Ingram 37, Rossouw 26, Pretorius 2-10

Deccan Gladiators 109-4 (9.5 ovs)

Watson 41, Devcich 27, Wiese 2-15

Gladiators win by six wickets

MATCH DETAILS

Chelsea 4 

Jorginho (4 pen, 71 pen), Azpilicueta (63), James (74)

Ajax 4

Abraham (2 og), Promes (20). Kepa (35 og), van de Beek (55) 

UAE athletes heading to Paris 2024

Equestrian
Abdullah Humaid Al Muhairi, Abdullah Al Marri, Omar Al Marzooqi, Salem Al Suwaidi, and Ali Al Karbi (four to be selected).


Judo
Men: Narmandakh Bayanmunkh (66kg), Nugzari Tatalashvili (81kg), Aram Grigorian (90kg), Dzhafar Kostoev (100kg), Magomedomar Magomedomarov (+100kg); women's Khorloodoi Bishrelt (52kg).


Cycling
Safia Al Sayegh (women's road race).

Swimming
Men: Yousef Rashid Al Matroushi (100m freestyle); women: Maha Abdullah Al Shehi (200m freestyle).

Athletics
Maryam Mohammed Al Farsi (women's 100 metres).