The US embassy in Kabul, where diplomats and well-paid foreign service staff lived in cloistered safety. Photo: Public domain image
The US embassy in Kabul, where diplomats and well-paid foreign service staff lived in cloistered safety. Photo: Public domain image
The US embassy in Kabul, where diplomats and well-paid foreign service staff lived in cloistered safety. Photo: Public domain image
The US embassy in Kabul, where diplomats and well-paid foreign service staff lived in cloistered safety. Photo: Public domain image

US embassy in Kabul lies abandoned as evacuation efforts continue


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In the middle of the US withdrawal from Afghanistan, the American embassy in Kabul lies abandoned following the Taliban takeover of the capital.

Helicopters could be seen leaving the embassy compound for the Hamid Karzai International Airport after it officially closed on August 15, with US Chargé d’Affaires Ross Wilson and other officials relocating embassy operations due to security concerns.

The vast US embassy compound was at the heart of the “Kabubble” — part of the capital's fortified Green Zone, not far from the city centre.

It was dedicated in 2006 by former president George W Bush, who called the main embassy building “a big, solid, permanent structure".

“I am struck by the story that our embassy was kept open and guarded during the days of the Taliban, and when Afghanistan was liberated, there were Afghan nationals here to turn over the keys to the embassy,” Mr Bush said at the ribbon-cutting ceremony.

Former president George W Bush and former Afghan president Hamid Karzai cut the embassy's ceremonial ribbon on March 1, 2006. Photo: White House
Former president George W Bush and former Afghan president Hamid Karzai cut the embassy's ceremonial ribbon on March 1, 2006. Photo: White House

Diplomats and well-paid foreign service staff lived in cloistered safety in the sprawling American exclave, which included the largest building the US State Department had ever contracted, according to Caddell Construction.

The US had spent a total of $1.5 billion on the embassy's construction, maintenance and security since 2002, a special inspector-general report revealed in June.

A contractor for the embassy build, DLR Group, wrote that the windows had been built small for security purposes and to keep costs on blast-proof glass low — necessary in a city routinely rocked by terror attacks.

People living and working in the compound faced challenges from security threats and attacks through the years and also experienced a large Covid-19 outbreak in June.

The embassy had all the trappings of a posh government building in Washington, including a canteen serving American food and coffee. There was also a swimming pool and tennis courts, and staff there often attended fancy soirees with military commanders from the neighbouring Nato base.

At about 36 acres, the embassy is significantly smaller than the largest US embassy in Baghdad, Iraq, which measures over 100 acres.

Visitors to the embassy would sometimes be greeted by Molly, a feral but friendly cat, who allegedly predated the US occupation, and would be 20 today if still alive.

The bio

Favourite book: Peter Rabbit. I used to read it to my three children and still read it myself. If I am feeling down it brings back good memories.

Best thing about your job: Getting to help people. My mum always told me never to pass up an opportunity to do a good deed.

Best part of life in the UAE: The weather. The constant sunshine is amazing and there is always something to do, you have so many options when it comes to how to spend your day.

Favourite holiday destination: Malaysia. I went there for my honeymoon and ended up volunteering to teach local children for a few hours each day. It is such a special place and I plan to retire there one day.

MATCH INFO

Who: UAE v USA
What: first T20 international
When: Friday, 2pm
Where: ICC Academy in Dubai

UAE currency: the story behind the money in your pockets
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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.”

UAE currency: the story behind the money in your pockets
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%3Cp%3EEngine%3A%203-litre%20V6%20turbo%20(standard%20model%2C%20E-hybrid)%3B%204-litre%20V8%20biturbo%20(S)%0D%3Cbr%3EPower%3A%20350hp%20(standard)%3B%20463hp%20(E-hybrid)%3B%20467hp%20(S)%0D%3Cbr%3ETorque%3A%20500Nm%20(standard)%3B%20650Nm%20(E-hybrid)%3B%20600Nm%20(S)%0D%0D%3Cbr%3EPrice%3A%20From%20Dh368%2C500%0D%3Cbr%3EOn%20sale%3A%20Now%3C%2Fp%3E%0A
Groom and Two Brides

Director: Elie Semaan

Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

Simran

Director Hansal Mehta

Stars: Kangana Ranaut, Soham Shah, Esha Tiwari Pandey

Three stars

Updated: August 26, 2021, 7:16 AM