• A man waves Afghanistan's national flag in Kabul, as the country marks its 102nd Independence Day on Thursday, August 20. This commemorates the country regaining full independence from British influence in 1919. AFP
    A man waves Afghanistan's national flag in Kabul, as the country marks its 102nd Independence Day on Thursday, August 20. This commemorates the country regaining full independence from British influence in 1919. AFP
  • Taliban fighters patrol in Kabul. AP Photo
    Taliban fighters patrol in Kabul. AP Photo
  • Afghans pass by the poster of Afghan President Ashraf Ghani who fled the country after Taliban took over, as they celebrate the Independence Day in Kabul. EPA
    Afghans pass by the poster of Afghan President Ashraf Ghani who fled the country after Taliban took over, as they celebrate the Independence Day in Kabul. EPA
  • Cars and crowds are seen near the airport in Kabul. Reuters
    Cars and crowds are seen near the airport in Kabul. Reuters
  • People gather round the scene of a shooting outside Kabul airport, while others move away from the incident. Reuters
    People gather round the scene of a shooting outside Kabul airport, while others move away from the incident. Reuters
  • A Taliban fighter sitting on a vehicle guards the route of an Ashura procession in western city Herat. AFP
    A Taliban fighter sitting on a vehicle guards the route of an Ashura procession in western city Herat. AFP
  • British and dual nationality citizens living in Afghanistan board a military plane at Kabul airport. Reuters
    British and dual nationality citizens living in Afghanistan board a military plane at Kabul airport. Reuters
  • A US Marine processes an evacuee at Kabul's Hamid Karzai International Airport. AFP
    A US Marine processes an evacuee at Kabul's Hamid Karzai International Airport. AFP
  • Afghan President Ashraf Ghani on his first video address since Taliban takeover. Facebook
    Afghan President Ashraf Ghani on his first video address since Taliban takeover. Facebook
  • People carry Afghan flags as they take part in an anti-Taliban protest in Jalalabad, Afghanistan. Reuters
    People carry Afghan flags as they take part in an anti-Taliban protest in Jalalabad, Afghanistan. Reuters
  • A woman holds a photograph during a protest to raise awareness of the situation in Afghanistan, outside EU headquarters in Brussels. AP Photo
    A woman holds a photograph during a protest to raise awareness of the situation in Afghanistan, outside EU headquarters in Brussels. AP Photo
  • Senior Taliban figure Abdul Ghani Baradar arrives in Afghanistan on Tuesday, August 17, 2021. AFP
    Senior Taliban figure Abdul Ghani Baradar arrives in Afghanistan on Tuesday, August 17, 2021. AFP
  • A Taliban fighter walks past a beauty saloon where images of women have been defaced, in Shahr-e Naw neighbourhood in north-west Kabul. AFP
    A Taliban fighter walks past a beauty saloon where images of women have been defaced, in Shahr-e Naw neighbourhood in north-west Kabul. AFP
  • People wait to be evacuated from Kabul's Hamid Karzai International Airport, following the Taliban takeover of the capital. AFP
    People wait to be evacuated from Kabul's Hamid Karzai International Airport, following the Taliban takeover of the capital. AFP
  • Afghans make their way into Pakistan at the Chaman border crossing. AFP
    Afghans make their way into Pakistan at the Chaman border crossing. AFP
  • Khairullah Khairkhwa, right, a former governor of western Herat province and now a member of the Taliban's political office in Qatar, speaks to the media after arriving in Kandahar, southern Afghanistan. EPA
    Khairullah Khairkhwa, right, a former governor of western Herat province and now a member of the Taliban's political office in Qatar, speaks to the media after arriving in Kandahar, southern Afghanistan. EPA
  • US National Security Adviser Jake Sullivan takes questions on events in Afghanistan, at a White House press briefing in Washington. EPA
    US National Security Adviser Jake Sullivan takes questions on events in Afghanistan, at a White House press briefing in Washington. EPA
  • Taliban forces guard a checkpoint in Kabul. Reuters
    Taliban forces guard a checkpoint in Kabul. Reuters
  • A young demonstrator attends a vigil in support of Afghanistan outside the West Los Angeles Federal Building, Los Angeles. EPA
    A young demonstrator attends a vigil in support of Afghanistan outside the West Los Angeles Federal Building, Los Angeles. EPA
  • Taliban spokesman Zabihullah Mujahid, centre, holds the group's first press conference in Kabul since the insurgents took the capital. AFP
    Taliban spokesman Zabihullah Mujahid, centre, holds the group's first press conference in Kabul since the insurgents took the capital. AFP
  • Images of glamorous women displayed outside a beauty salon in Kabul have been painted over since the Taliban took control. EPA
    Images of glamorous women displayed outside a beauty salon in Kabul have been painted over since the Taliban took control. EPA
  • A Taliban fighter in Afghan capital Kabul, where the group has told government staff to return to work. AFP
    A Taliban fighter in Afghan capital Kabul, where the group has told government staff to return to work. AFP
  • Taliban fighters on patrol in Kabul. AFP
    Taliban fighters on patrol in Kabul. AFP
  • Taliban fighters in an Afghan government forces pickup patrol the streets of Kabul. AFP
    Taliban fighters in an Afghan government forces pickup patrol the streets of Kabul. AFP
  • Taliban fighters pass a poster of Afghan President Ashraf Ghani in Kabul. AFP
    Taliban fighters pass a poster of Afghan President Ashraf Ghani in Kabul. AFP
  • People queue outside Kabul airport as they try to leave Afghanistan following the Taliban takeover. Reuters
    People queue outside Kabul airport as they try to leave Afghanistan following the Taliban takeover. Reuters
  • A Taliban fighter keeps watch outside the Interior Ministry in Kabul. AFP
    A Taliban fighter keeps watch outside the Interior Ministry in Kabul. AFP
  • Some of the first people flown out of Kabul after the Taliban takeover arrive at Frankfurt International Airport in Germany. AFP
    Some of the first people flown out of Kabul after the Taliban takeover arrive at Frankfurt International Airport in Germany. AFP
  • People have arrived in Frankfurt after fleeing the Afghan capital. AFP
    People have arrived in Frankfurt after fleeing the Afghan capital. AFP
  • Western countries have been flying citizens and Afghans out of Kabul since it was seized by the Taliban. AFP
    Western countries have been flying citizens and Afghans out of Kabul since it was seized by the Taliban. AFP

G7 ministers 'deeply concerned' by reports of reprisals in Afghanistan


Jamie Prentis
  • English
  • Arabic

Foreign ministers of the G7 said they were “deeply concerned” by reports of “violent reprisals” in Afghanistan and urged the Taliban to abide by their commitments to protect civilians.

They called on the Taliban to guarantee safe passage for those who want to leave Afghanistan, amid reports that some Afghans had been blocked from reaching Kabul’s airport.

According to UK Foreign Secretary Dominic Raab, who chaired the virtual talks on Thursday, the G7 ministers “spoke about the gravity of the situation and the significant loss of life and internal displacement in Afghanistan over recent days.”

They also underlined their “commitment in particular to the urgent need for the cessation of violence, respect for human rights including for women, children and minorities and inclusive negotiations about the future of Afghanistan".

The G7 countries are the US, UK, Canada, France, Germany, Italy and Japan. The ministers said there was need for all parties to respect international humanitarian law, "in particular in relation to humanitarian and medical personnel, interpreters and other international service providers".

“G7 ministers discussed the importance of the international community providing safe and legal resettlement routes,” Mr Raab said.

“They concurred that the Taliban must ensure that Afghanistan does not become host to a terrorist threat to international security.”

The talks between the ministers came ahead of a planned summit of G7 leaders to discuss their response to the crisis in Afghanistan and the Taliban’s rapid takeover of the country.


In Thursday's meeting, the G7 ministers said the international response required “intensive engagement on the critical questions facing Afghanistan and the region,” with Afghans affected, parties to the conflict, the UN, G20, international donors and regional players.

“G7 ministers will each engage with partners in the coming days and weeks to seek to secure an inclusive political settlement, enable life-saving humanitarian assistance and support in Afghanistan and the region, and prevent any further loss of life in Afghanistan and to the international community from terrorism,” Mr Raab said.

“The G7 ministers call on the international community to come together with a shared mission to prevent the crisis in Afghanistan escalating.”

The specs: 2019 Haval H6

Price, base: Dh69,900

Engine: 2.0-litre turbocharged four-cylinder

Transmission: Seven-speed automatic

Power: 197hp @ 5,500rpm

Torque: 315Nm @ 2,000rpm

Fuel economy, combined: 7.0L / 100km

Stage 5 results

1 Tadej Pogacar (SLO) UAE Team Emirates 3:48:53

2 Alexey Lutsenko (KAZ) Astana Pro Team -

Adam Yates (GBR) Mitchelton-Scott - 

4 David Gaudu (FRA) Groupama-FDJ  0:00:04

5 Ilnur Zakarin (RUS) CCC Team 0:00:07

General Classification:

1 Adam Yates (GBR) Mitchelton-Scott 20:35:04

2 Tadej Pogacar (SlO) UAE Team Emirates 0:01:01

3 Alexey Lutsenko (KAZ) Astana Pro Team 0:01:33

4 David Gaudu (FRA) Groupama-FDJ 0:01:48

5 Rafał Majka (POL) Bora-Hansgrohe 0:02:11

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.”

Cultural fiesta

What: The Al Burda Festival
When: November 14 (from 10am)
Where: Warehouse421,  Abu Dhabi
The Al Burda Festival is a celebration of Islamic art and culture, featuring talks, performances and exhibitions. Organised by the Ministry of Culture and Knowledge Development, this one-day event opens with a session on the future of Islamic art. With this in mind, it is followed by a number of workshops and “masterclass” sessions in everything from calligraphy and typography to geometry and the origins of Islamic design. There will also be discussions on subjects including ‘Who is the Audience for Islamic Art?’ and ‘New Markets for Islamic Design.’ A live performance from Kuwaiti guitarist Yousif Yaseen should be one of the highlights of the day. 

About RuPay

A homegrown card payment scheme launched by the National Payments Corporation of India and backed by the Reserve Bank of India, the country’s central bank

RuPay process payments between banks and merchants for purchases made with credit or debit cards

It has grown rapidly in India and competes with global payment network firms like MasterCard and Visa.

In India, it can be used at ATMs, for online payments and variations of the card can be used to pay for bus, metro charges, road toll payments

The name blends two words rupee and payment

Some advantages of the network include lower processing fees and transaction costs

Visit Abu Dhabi culinary team's top Emirati restaurants in Abu Dhabi

Yadoo’s House Restaurant & Cafe

For the karak and Yoodo's house platter with includes eggs, balaleet, khamir and chebab bread.

Golden Dallah

For the cappuccino, luqaimat and aseeda.

Al Mrzab Restaurant

For the shrimp murabian and Kuwaiti options including Kuwaiti machboos with kebab and spicy sauce.

Al Derwaza

For the fish hubul, regag bread, biryani and special seafood soup. 

The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
The story of Edge

Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, established Edge in 2019.

It brought together 25 state-owned and independent companies specialising in weapons systems, cyber protection and electronic warfare.

Edge has an annual revenue of $5 billion and employs more than 12,000 people.

Some of the companies include Nimr, a maker of armoured vehicles, Caracal, which manufactures guns and ammunitions company, Lahab

 

DUBAI WORLD CUP RACE CARD

6.30pm Meydan Classic Trial US$100,000 (Turf) 1,400m

7.05pm Handicap $135,000 (T) 1,400m

7.40pm UAE 2000 Guineas Group Three $250,000 (Dirt) 1,600m

8.15pm Dubai Sprint Listed Handicap $175,000 (T) 1,200m

8.50pm Al Maktoum Challenge Round-2 Group Two $450,000 (D) 1,900m

9.25pm Handicap $135,000 (T) 1,800m

10pm Handicap $135,000 (T) 1,400m

 

The National selections

6.30pm Well Of Wisdom

7.05pm Summrghand

7.40pm Laser Show

8.15pm Angel Alexander

8.50pm Benbatl

9.25pm Art Du Val

10pm: Beyond Reason

Hotel Data Cloud profile

Date started: June 2016
Founders: Gregor Amon and Kevin Czok
Based: Dubai
Sector: Travel Tech
Size: 10 employees
Funding: $350,000 (Dh1.3 million)
Investors: five angel investors (undisclosed except for Amar Shubar)

MATCH INFO

Day 1 at Mount Maunganui

England 241-4

Denly 74, Stokes 67 not out, De Grandhomme 2-28

New Zealand 

Yet to bat

Five expert hiking tips
    Always check the weather forecast before setting off Make sure you have plenty of water Set off early to avoid sudden weather changes in the afternoon Wear appropriate clothing and footwear Take your litter home with you
Diriyah%20project%20at%20a%20glance
%3Cp%3E-%20Diriyah%E2%80%99s%201.9km%20King%20Salman%20Boulevard%2C%20a%20Parisian%20Champs-Elysees-inspired%20avenue%2C%20is%20scheduled%20for%20completion%20in%202028%3Cbr%3E-%20The%20Royal%20Diriyah%20Opera%20House%20is%20expected%20to%20be%20completed%20in%20four%20years%3Cbr%3E-%20Diriyah%E2%80%99s%20first%20of%2042%20hotels%2C%20the%20Bab%20Samhan%20hotel%2C%20will%20open%20in%20the%20first%20quarter%20of%202024%3Cbr%3E-%20On%20completion%20in%202030%2C%20the%20Diriyah%20project%20is%20forecast%20to%20accommodate%20more%20than%20100%2C000%20people%3Cbr%3E-%20The%20%2463.2%20billion%20Diriyah%20project%20will%20contribute%20%247.2%20billion%20to%20the%20kingdom%E2%80%99s%20GDP%3Cbr%3E-%20It%20will%20create%20more%20than%20178%2C000%20jobs%20and%20aims%20to%20attract%20more%20than%2050%20million%20visits%20a%20year%3Cbr%3E-%20About%202%2C000%20people%20work%20for%20the%20Diriyah%20Company%2C%20with%20more%20than%2086%20per%20cent%20being%20Saudi%20citizens%3Cbr%3E%3C%2Fp%3E%0A
Updated: August 19, 2021, 6:12 PM