Blood is seen in the shell of a UN van following a bomb attack that killed at least six UN workers on April 20, 2015 in the northeastern town of Garowe. Somalia's Al Qaeda-affiliated Shabab insurgents claimed responsibility for the attack. AFP Photo
Blood is seen in the shell of a UN van following a bomb attack that killed at least six UN workers on April 20, 2015 in the northeastern town of Garowe. Somalia's Al Qaeda-affiliated Shabab insurgentsShow more

Al Shabab bomb attack on bus kills 7 including UN staff in Somalia



MOGADISHU, SOMALIA // A bomb exploded on a van carrying UN employees in northern Somalia on Monday, killing at least 7 people and wounding many others, police and UN officials said.

The Al Qaeda-linked Al Shabab group claimed responsibility for the attack, according to the group’s Andalus radio.

Both foreigners and Somalis were casualties of the attack in Garowe, the capital of the semiautonomous Puntland region, Col Ali Salad, a senior police officer in Puntland, said.

A UN employee in Garowe, who wanted to remain anonymous because she was not authorised to speak to the press, said most of the victims are foreigners working with the UN.

She said they were travelling early Monday in a bus that belonged to the UN children’s agency, Unicef.

The UN representative to Somalia, Nicholas Kay, said in a Twitter post that he was “shocked and appalled by loss of life”.

The bomb was apparently planted under a seat and was detonated by remote control, said police official Yusuf Ali.

Garowe resident Jama Hashi said he heard a thundering blast inside the van, which he said was passing near the offices of the UN’s food agency when the bomb went off.

Human limbs were scattered around the scene, he said.

Security forces sealed off the area as ambulances carried the wounded away.

“It’s a dark day, but terrorists must know that the blood they shed will not go in vain. We shall deal with them with an iron hand,” Col Salad said.

Bomb attacks are not common in the northern parts of Somalia, unlike in the south where Al Shabab militants are waging a deadly war against the Western-backed Somali government and the African Union forces bolstering it.

Last week at least 10 people were killed in an assault on the offices of Somalia's education ministry. The attacks often target the seat of government in the Somali capital, Mogadishu, as well as public places known to be popular with foreigners living in Somalia.

Despite losing a lot of ground in recent times and losing top leaders in US airstrikes, Al Shabab militants have still been able to launch attacks in different parts of Somalia and even across borders, especially in Kenya.

Al Shabab claimed responsibility for an attack earlier this month at a university campus in northeastern Kenya in which militants killed 148 people, most of them students.

* Associated Press

Paatal Lok season two

Directors: Avinash Arun, Prosit Roy 

Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong

Rating: 4.5/5

UAE currency: the story behind the money in your pockets
RESULT

Shabab Al Ahli Dubai 0 Al Ain 6
Al Ain: Caio (5', 73'), El Shahat (10'), Berg (65'), Khalil (83'), Al Ahbabi (90' 2)

UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

Essentials

The flights
Etihad and Emirates fly direct from the UAE to Delhi from about Dh950 return including taxes.
The hotels
Double rooms at Tijara Fort-Palace cost from 6,670 rupees (Dh377), including breakfast.
Doubles at Fort Bishangarh cost from 29,030 rupees (Dh1,641), including breakfast. Doubles at Narendra Bhawan cost from 15,360 rupees (Dh869). Doubles at Chanoud Garh cost from 19,840 rupees (Dh1,122), full board. Doubles at Fort Begu cost from 10,000 rupees (Dh565), including breakfast.
The tours 
Amar Grover travelled with Wild Frontiers. A tailor-made, nine-day itinerary via New Delhi, with one night in Tijara and two nights in each of the remaining properties, including car/driver, costs from £1,445 (Dh6,968) per person.

What She Ate: Six Remarkable Women & the Food That Tells Their Stories
Laura Shapiro
Fourth Estate

Director: Paul Weitz
Stars: Kevin Hart
3/5 stars

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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MATCH INFO

Manchester United 2 (Heaton (og) 42', Lindelof 64')

Aston Villa 2 (Grealish 11', Mings 66')