Turkish soldiers inspect a damaged vehicle at the site of a suicide attack in Kabul on February 26. Rahmat Gul / AP Photo
Turkish soldiers inspect a damaged vehicle at the site of a suicide attack in Kabul on February 26. Rahmat Gul / AP Photo
Turkish soldiers inspect a damaged vehicle at the site of a suicide attack in Kabul on February 26. Rahmat Gul / AP Photo
Turkish soldiers inspect a damaged vehicle at the site of a suicide attack in Kabul on February 26. Rahmat Gul / AP Photo

2 dead in Kabul attack on Turkish diplomatic vehicle


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  • Arabic

KABUL // A Taliban suicide attack targeting a Turkish diplomatic vehicle belonging to the Nato mission killed two people in Kabul Thursday, highlighting the fragile security situation as the Afghan government presses for talks with the militants.

The blast came shortly after 8:00am not far from the Iranian embassy. Police said the dead included a Turkish national and an Afghan passer-by.

Police initially said the vehicle was from the Turkish embassy, but a spokesman for the Nato mission in Afghanistan later confirmed it was part of a coalition convoy.

Kabul police spokesman Hashmat Stanikzai gave details of the attack and death toll, saying the bomber was driving a Toyota Corolla.

Abdul Rahman Rahimi, Kabul police chief, confirmed the death toll in the blast, which the Taliban claimed responsibility for.

“A suicide bomber blew himself up targeting a foreign convoy in central Kabul, a number of foreigners were killed in the attack,” the militants said in an SMS message.

The area was cordoned off after the blast, which left debris strewn in the road and nearby blast walls spattered with blood.

Witness Mohammad Yousuf, 17, described the moment the blast happened.

“The suicide bomber was in a Toyota sedan, he detonated himself causing a big bang, soon after the explosion there was black smoke everywhere,” he said.

It is the first major attack in Kabul’s heavily secured centre since early January, when a suicide bomber hit a European Union police vehicle, killing a passer-by.

More than 13 years after the Taliban were ousted from power after a US-led invasion, their insurgency remains resilient.

Nato ended its combat mission in late December, leaving a residual force to carry on a training and support mission to Afghanistan’s 350,000 security forces, who now lead the fight against the Taliban.

There have been growing hopes in recent weeks of talks between Kabul and the Taliban aimed at moving towards reconciliation after more than a decade of war.

Afghanistan’s chief executive Abdullah Abdullah said on Monday that dialogue with the Taliban could begin soon and last week several militant commanders said preliminary meetings in Qatar were on the cards.

But the Taliban’s central leadership has denied such moves, indicating the fragile and embryonic state of the process.

There have been several attempts at starting dialogue in recent years between the Taliban, Kabul and the United States — the Afghan government’s chief supporter — but with little success.

The Taliban opened an office in Qatar in June 2013 as the first move towards a possible peace deal, but it shut a month later after enraging the then-Afghan president Hamid Karzai by styling it as the unofficial embassy for a government-in-exile.

The election last year of president Ashraf Ghani, who pledged to make peace talks a priority, as well as supportive signals from Pakistan which has long held significant influence with the Taliban, has boosted hopes for possible dialogue.

But the Taliban insist talks are impossible while foreign troops remain in the country and Thursday’s attack served as a stark reminder that the war is far from over.

* Agence France-Presse

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Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana

Rating: 2/5

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Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

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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.”

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

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6pm: Dubai Trophy – Conditions (TB) $100,000 (Turf) 1,200m 

Winner: Silent Speech, William Buick (jockey), Charlie Appleby
(trainer) 

6.35pm: Jumeirah Derby Trial – Conditions (TB) $60,000 (T)
1,800m 

Winner: Island Falcon, Frankie Dettori, Saeed bin Suroor 

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Winner: Rawy, Mickael Barzalona, Salem bin Ghadayer 

7.45pm: Al Rashidiya – Group 2 (TB) $180,000 (T) 1,800m 

Winner: Desert Fire, Hector Crouch, Saeed bin Suroor 

8.20pm: Al Fahidi Fort – Group 2 (TB) $180,000 (T) 1,400m 

Winner: Naval Crown, William Buick, Charlie Appleby 

8.55pm: Dubawi Stakes – Group 3 (TB) $150,000 (D) 1,200m 

Winner: Al Tariq, Pat Dobbs, Doug Watsons 

9.30pm: Aliyah – Rated Conditions (TB) $80,000 (D) 2,000m 

Winner: Dubai Icon, Patrick Cosgrave, Saeed bin Suroor  

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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
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Name: Airev
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Founder: Muhammad Khalid
Based: Abu Dhabi
Sector: Generative AI
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
 
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Rating: 3 out of 5 stars