A United Nations peacekeeper, a civilian contractor and at least seven Malians have been killed in attacks on two UN bases in Mali, in the latest assault on the organisation's presence in the country.
The Togolese peacekeeper and a Malian soldier were killed in an early morning assault on Monday in Douentza, in the central region of Mopti, according to a statement from the UN mission in the country, known as Minusma.
Hours later, six men toting guns and grenades drove up to the entrance of the mission's camp in Timbuktu in northwestern Mali, the UN said in a separate statement.
They opened fire on Malian UN security guards, killing five of them, as well as a policeman and a civilian contractor whose nationality was not specified.
A UN source said six guards had been killed, but the statement said a sixth guard was wounded but had not died.
Two suspected extremists were killed in the Douentza attack and six in Timbuktu.
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UN secretary general Antonio Guterres condemned the violence, stressing that attacks targeting UN peacekeepers "may constitute war crimes under international law".
The body's 15-member Security Council urged Mali to investigate the incident and bring the perpetrators to justice.
The assault underlines the scale of the UN's struggles to contain a death toll among its peacekeepers that has already earned its Mali mission the unwelcome title of the world's deadliest active UN deployment.
Another peacekeeper was lightly wounded in Douentza and six others suffered injuries in Timbuktu, according to the UN statements.
"I don't have enough words to condemn this cowardly and ignoble act a few hours after the terrorist attack we endured in Douentza," said UN special representative for Mali, Mahamat Saleh Saleh Annadif.
"We must combine all our efforts in order to identify and apprehend those responsible for these terrorist acts so that they can answer to their crimes in court."
The Timbuktu attack attracted the attention of Malian forces and French helicopters stationed in the area, who fired on the attackers.
On Monday night, reinforcements were deployed to both bases and in the city of Timbuktu itself.
Active in Mali since 2013, Minusma is constantly targeted by extremists that roam northern and central Mali, and has also been beset by operational difficulties, including a lack of helicopters and allegations of abuse lodged by the population.
In 2012, key cities in northern Mali fell under the control of extremist groups linked to Al Qaeda, who exploited an ethnic Tuareg-led rebel uprising, leading to a French-led military intervention and the eventual deployment of Minusma.
Although the militants were largely ousted, attacks have continued on UN and French forces, civilians and the Malian army.
Monday's attacks in Mali came hours after an assault in Ouagadougou, the capital of neighbouring Burkina Faso, where 18 people were gunned down at a restaurant popular with foreigners.
France is pushing for five countries in the western-central Sahara region to form a joint "G5" force to combat extremism. It would comprise 5,000 men drawn from Burkina Faso, Chad, Mali, Mauritania and Niger.
But the plan has been met with concerns over funding, with an estimated €400 million (D22.9m) required to make it operational.
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KILLING OF QASSEM SULEIMANI
How to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
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What are the regulations?
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Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
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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Engine: Two permanent-magnet synchronous AC motors
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Martin Sabbagh profile
Job: CEO JCDecaux Middle East
In the role: Since January 2015
Lives: In the UAE
Background: M&A, investment banking
Studied: Corporate finance
Killing of Qassem Suleimani
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23-man shortlist for next six Hall of Fame inductees
Tony Adams, David Beckham, Dennis Bergkamp, Sol Campbell, Eric Cantona, Andrew Cole, Ashley Cole, Didier Drogba, Les Ferdinand, Rio Ferdinand, Robbie Fowler, Steven Gerrard, Roy Keane, Frank Lampard, Matt Le Tissier, Michael Owen, Peter Schmeichel, Paul Scholes, John Terry, Robin van Persie, Nemanja Vidic, Patrick Viera, Ian Wright.
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Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
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Director: Siddharth Anand
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Rating: Two out of five stars
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