Prime Minister of Ethiopia Abiy Ahmed met Eritrean representatives on Friday. AFP
Prime Minister of Ethiopia Abiy Ahmed met Eritrean representatives on Friday. AFP
Prime Minister of Ethiopia Abiy Ahmed met Eritrean representatives on Friday. AFP
Prime Minister of Ethiopia Abiy Ahmed met Eritrean representatives on Friday. AFP

Ethiopia says Eritrea agrees to withdraw troops from Tigray region


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Eritrea agreed to withdraw its forces from the Tigray region, Ethiopian Prime Minister Abiy Ahmed said.

"In our March 26, 2021 discussions with [Eritrean] President Isaias Afwerki during my visit to Asmara, the government of Eritrea agreed to withdraw its forces out of the Ethiopian border," Mr Abiy saidon Twitter.

Friday's statement comes after intense pressure from the United States and others to address the crisis in Tigray, where witnesses described Eritrean soldiers looting, killing and raping.

Mr Abiy’s statement, which came after visiting the Eritrean capital to meet Mr Afwerki, said Ethiopian forces will take over guarding the border areas “effective immediately”.

Only in the past week has he acknowledged the presence of soldiers from Eritrea, long an enemy of the Tigray leaders who once dominated Ethiopia’s government.

Eritrea is yet to comment on the matter.

The prime minister called for a return to "good neighbourliness" and a continuation of bilateral relations formed three years ago.

He shocked the region in 2018 by making peace with Eritrea after a long border war in the Tigray region, an achievement for which he was awarded the Nobel Peace Prize.

But since the present Tigray conflict began in November, Mr Abiy has been accused of teaming up with Eritrea to pursue the now-fugitive Tigray leaders.

The new statement does not say how many Eritrean soldiers were in Ethiopia, although witnesses estimated the number to be well in the thousands.

  • Hider, an Ethiopian refugee in Sudan for the third time in his life who has been separated from his son after arriving in Hamadyet. Crystal VanLeeuwen / MSF
    Hider, an Ethiopian refugee in Sudan for the third time in his life who has been separated from his son after arriving in Hamadyet. Crystal VanLeeuwen / MSF
  • Hadahra, 60 year-old Tigrayan refugee. Courtesy MSF
    Hadahra, 60 year-old Tigrayan refugee. Courtesy MSF
  • Hadahra, 60 year-old Tigrayan refugee. Courtesy MSF
    Hadahra, 60 year-old Tigrayan refugee. Courtesy MSF
  • The only food that has been provided to the refugees in Hamadyet reception area. Many people consider it inedible and the quantities are insufficient quantity. Crystal VanLeeuwen / MSF
    The only food that has been provided to the refugees in Hamadyet reception area. Many people consider it inedible and the quantities are insufficient quantity. Crystal VanLeeuwen / MSF
  • Tsgay, 35, and daughter Dalina, 4. Courtesy MSF
    Tsgay, 35, and daughter Dalina, 4. Courtesy MSF
  • Tsgay , 35 year old woman and daughter Dalina , 4 year old temoignage. Courtesy MSF
    Tsgay , 35 year old woman and daughter Dalina , 4 year old temoignage. Courtesy MSF
  • Ethiopian refugees preparing food in Hamdayet reception centre. Courtesy MSF
    Ethiopian refugees preparing food in Hamdayet reception centre. Courtesy MSF
  • Tshaga, 27, and her one year-old daughter Temnit. Courtesy MSF
    Tshaga, 27, and her one year-old daughter Temnit. Courtesy MSF
  • Tafutoe, a 35 year-old woman from Mai Kadra, in Hamdayet who has been there for three months. Courtesy MSF
    Tafutoe, a 35 year-old woman from Mai Kadra, in Hamdayet who has been there for three months. Courtesy MSF
  • An MSF staff overlooking the reception area in Hamadyet where more than 10,000 are living as they await transfer to a permanent camp location. Courtesy MSF
    An MSF staff overlooking the reception area in Hamadyet where more than 10,000 are living as they await transfer to a permanent camp location. Courtesy MSF
Islamophobia definition

A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.

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Dubai World Cup Carnival card:

6.30pm: Handicap (Turf) | US$175,000 2,410 metres

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UAE currency: the story behind the money in your pockets
Lexus LX700h specs

Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor

Power: 464hp at 5,200rpm

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- Abdullah Ishnaneh, Partner, BSA Law 

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Q&A with Dash Berlin

Welcome back. What was it like to return to RAK and to play for fans out here again?
It’s an amazing feeling to be back in the passionate UAE again. Seeing the fans having a great time that is what it’s all about.

You're currently touring the globe as part of your Legends of the Feels Tour. How important is it to you to include the Middle East in the schedule?
The tour is doing really well and is extensive and intensive at the same time travelling all over the globe. My Middle Eastern fans are very dear to me, it’s good to be back.

You mix tracks that people know and love, but you also have a visually impressive set too (graphics etc). Is that the secret recipe to Dash Berlin's live gigs?
People enjoying the combination of the music and visuals are the key factor in the success of the Legends Of The Feel tour 2018.

Have you had some time to explore Ras al Khaimah too? If so, what have you been up to?
Coming fresh out of Las Vegas where I continue my 7th annual year DJ residency at Marquee, I decided it was a perfect moment to catch some sun rays and enjoy the warm hospitality of Bab Al Bahr.

 

Sole survivors
  • Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
  • George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
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  • Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
Test

Director: S Sashikanth

Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan

Star rating: 2/5

Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

Emergency

Director: Kangana Ranaut

Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry 

Rating: 2/5

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.”

THE BIG MATCH

Arsenal v Manchester City,

Sunday, Emirates Stadium, 6.30pm

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A Dog's Journey 

Directed by: Gail Mancuso

Starring: Dennis Quaid, Josh Gad, Marg Helgenberger, Betty Gilpin, Kathryn Prescott

3 out of 5 stars

The bio

Favourite book: Kane and Abel by Jeffrey Archer

Favourite quote: “The world makes way for the man who knows where he is going.” - Ralph Waldo Emerson, American essayist

Favourite Authors: Arab poet Abu At-Tayyib Al-Mutanabbi

Favourite Emirati food: Luqaimat, a deep-fried dough soaked in date syrup

Hobbies: Reading and drawing

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Porsche Macan T: The Specs

Engine: 2.0-litre 4-cyl turbo 

Power: 265hp from 5,000-6,500rpm 

Torque: 400Nm from 1,800-4,500rpm 

Transmission: 7-speed dual-clutch auto 

Speed: 0-100kph in 6.2sec 

Top speed: 232kph 

Fuel consumption: 10.7L/100km 

On sale: May or June 

Price: From Dh259,900