Follow the latest Sudan updates here
UN Secretary General Antonio Guterres on Wednesday called on the international community to support Sudan as the African nation faces a “humanitarian catastrophe”.
“Khartoum is in turmoil; Darfur is burning once again,” Mr Guterres told reporters in Nairobi.
“The Sudanese are facing a humanitarian catastrophe. Hospitals destroyed. Humanitarian warehouses looted. Millions facing food insecurity," he said. “We need secure and immediate access to distribute aid to people who need it most."
He urged all parties to put the “interests of the Sudanese people first” and for the fighting to stop before the conflict “explodes into an all-out war that could affect the region for years to come”.
Mr Guterres is in Nairobi for a two-day official visit to hold talks with Kenya's President William Ruto on the security and humanitarian situation in Sudan. He echoed Mr Ruto’s calls for de-escalation, a return to the negotiating table and an agreement on a lasting ceasefire.
“It's important that the whole of the international community comes together and tell clearly the two generals but also all those that eventually are taking profit of this, that the present situation is totally unacceptable,” he said, referring to Sudanese military leader Gen Abdel Fattah Al Burhan and leader of the paramilitary Rapid Support Forces Gen Mohamed Dagalo.
“A lasting ceasefire needs to take place. Unfortunately, we are not yet there.”
On Tuesday, the foreign ministry of neighbouring South Sudan announced that Gen Burhan and Gen Daglo "have agreed in principle for a seven-day truce from May 4 to 11".
Earlier truces between the RSF and the army, whose internal power struggle escalated into open confrontation in mid-April, have varied in duration from 24 to 72 hours. However, none of them have been adhered to completely.
Egyptian President Abdel Fattah al-Sisi warned on Tuesday that the fighting in neighbouring Sudan was affecting "the entire region".
The Saudi-headquartered Organisation of Islamic Cooperation on Wednesday held an emergency meeting to discuss the situation in Sudan.
The conflict has created a humanitarian crisis, with about 100,000 people forced to flee — often with little food or water — to neighbouring countries, according to the UN.
UN aid chief Martin Griffiths arrived in Port Sudan on the Red Sea coast early on Wednesday on an urgent mission to find ways to bring relief to the millions of Sudanese affected by the conflict.
He said he was seeking assurances from the warring factions to safeguard the delivery of humanitarian assistance hours after air strikes in Khartoum undermined a new ceasefire.
Mr Griffiths said the UN had a plan for delivering the aid and supplies needed to address the dire situation but noted that “we still require agreements and arrangements to allow for movement of staff and supplies”.
The aid chief added that he had been told by the World Food Programme that six of their lorries travelling to Darfur were looted en route despite assurances from authorities of safety and security.
New UK refugee system
- A new “core protection” for refugees moving from permanent to a more basic, temporary protection
- Shortened leave to remain - refugees will receive 30 months instead of five years
- A longer path to settlement with no indefinite settled status until a refugee has spent 20 years in Britain
- To encourage refugees to integrate the government will encourage them to out of the core protection route wherever possible.
- Under core protection there will be no automatic right to family reunion
- Refugees will have a reduced right to public funds
Killing of Qassem Suleimani
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
UAE currency: the story behind the money in your pockets
The specs: Aston Martin DB11 V8 vs Ferrari GTC4Lusso T
Price, base: Dh840,000; Dh120,000
Engine: 4.0L V8 twin-turbo; 3.9L V8 turbo
Transmission: Eight-speed automatic; seven-speed automatic
Power: 509hp @ 6,000rpm; 601hp @ 7,500rpm
Torque: 695Nm @ 2,000rpm; 760Nm @ 3,000rpm
Fuel economy, combined: 9.9L / 100km; 11.6L / 100km
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ULTRA PROCESSED FOODS
- Carbonated drinks, sweet or savoury packaged snacks, confectionery, mass-produced packaged breads and buns
- margarines and spreads; cookies, biscuits, pastries, cakes, and cake mixes, breakfast cereals, cereal and energy bars;
- energy drinks, milk drinks, fruit yoghurts and fruit drinks, cocoa drinks, meat and chicken extracts and instant sauces
- infant formulas and follow-on milks, health and slimming products such as powdered or fortified meal and dish substitutes,
- many ready-to-heat products including pre-prepared pies and pasta and pizza dishes, poultry and fish nuggets and sticks, sausages, burgers, hot dogs, and other reconstituted meat products, powdered and packaged instant soups, noodles and desserts.
MATCH INFO
Newcastle 2-2 Manchester City
Burnley 0-2 Crystal Palace
Chelsea 0-1 West Ham
Liverpool 2-1 Brighton
Tottenham 3-2 Bournemouth
Southampton v Watford (late)
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.”
PROFILE OF STARZPLAY
Date started: 2014
Founders: Maaz Sheikh, Danny Bates
Based: Dubai, UAE
Sector: Entertainment/Streaming Video On Demand
Number of employees: 125
Investors/Investment amount: $125 million. Major investors include Starz/Lionsgate, State Street, SEQ and Delta Partners
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The BIO:
He became the first Emirati to climb Mount Everest in 2011, from the south section in Nepal
He ascended Mount Everest the next year from the more treacherous north Tibetan side
By 2015, he had completed the Explorers Grand Slam
Last year, he conquered K2, the world’s second-highest mountain located on the Pakistan-Chinese border
He carries dried camel meat, dried dates and a wheat mixture for the final summit push
His new goal is to climb 14 peaks that are more than 8,000 metres above sea level
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Russia's Muslim Heartlands
Dominic Rubin, Oxford
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