People work on a damaged building, in Mananjary district, Madagascar, Wednesday Feb. 22, 2023 after cyclone Freddy reached Madagascar. A slightly weakened Cyclone Freddy has made landfall in Madagascar, where schools, businesses and public transportation were shut down ahead of its arrival. Freddy was packing winds gusting to 180 kilometers per hour, or about 111 miles per hour, as it came ashore in a nation already hit in January by a tropical storm that killed at least 30 people. (AP Photo / Solofo Rasolofomanana)
People work on a damaged building, in Mananjary district, Madagascar, Wednesday Feb. 22, 2023 after cyclone Freddy reached Madagascar. A slightly weakened Cyclone Freddy has made landfall in Madagascar, where schools, businesses and public transportation were shut down ahead of its arrival. Freddy was packing winds gusting to 180 kilometers per hour, or about 111 miles per hour, as it came ashore in a nation already hit in January by a tropical storm that killed at least 30 people. (AP Photo / Solofo Rasolofomanana)
People work on a damaged building, in Mananjary district, Madagascar, Wednesday Feb. 22, 2023 after cyclone Freddy reached Madagascar. A slightly weakened Cyclone Freddy has made landfall in Madagascar, where schools, businesses and public transportation were shut down ahead of its arrival. Freddy was packing winds gusting to 180 kilometers per hour, or about 111 miles per hour, as it came ashore in a nation already hit in January by a tropical storm that killed at least 30 people. (AP Photo / Solofo Rasolofomanana)
People work on a damaged building, in Mananjary district, Madagascar, Wednesday Feb. 22, 2023 after cyclone Freddy reached Madagascar. A slightly weakened Cyclone Freddy has made landfall in Madagasca

Cyclone Freddy death toll rises after storm returns to Madagascar


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The death toll from Cyclone Freddy's second visit to Madagascar rose to eight on Tuesday, authorities have said.

The south-eastern African nation of Mozambique was preparing for a rare second hit by the storm late on Friday night, a regional weather centre said on Tuesday.

The UN's World Meteorological Organisation said that Freddy, which began life off north-western Australia in the first week in February, was set to become the longest-lasting tropical cyclone on record.

Madagascar's government announced that more than 40,000 people have been affected and 14,000 have been displaced since the storm returned to batter the island nation having followed an unusual path.

Meteorologists have described the cyclone's route as a "rare" loop trajectory, a phenomena last recorded in 1998.

Freddy "does appear to be a new record holder for longest-lasting recorded tropical cyclone", said the WMO's Weather and Climate Extremes rapporteur Prof Randall Cerveny on Tuesday.

"We are continuing to monitor the situation," he said.

In total, at least 15 people have died in Madagascar since Freddy struck the first time in late February, bringing strong winds and torrential rains.

One person remains missing and more than 1,000 homes have been destroyed, the government said.

On Tuesday afternoon, the cyclone was located in the Mozambique Channel about 250km north-west of the coastal city of Toliara, with wind gusts of up to 180kph.

Rains in south-western Madagascar were easing, as the storm strengthened but moved away from the Indian Ocean island towards Mozambique, where it is expected to make a second landfall later this week.

At least 10 people were killed during Freddy's previous visit to the southern African country, according to the UN.

Madagascar is typically struck several times during the annual November-April storm season.

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Started: December 2011
Co-founders: Elie Habib, Eddy Maroun
Based: Beirut and Dubai
Sector: Entertainment
Size: 85 employees
Stage: Series C
Investors: MEVP, du, Mobily, MBC, Samena Capital

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.”

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

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COMPANY%20PROFILE
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Gulf Under 19s

Pools

A – Dubai College, Deira International School, Al Ain Amblers, Warriors
B – Dubai English Speaking College, Repton Royals, Jumeirah College, Gems World Academy
C – British School Al Khubairat, Abu Dhabi Harlequins, Dubai Hurricanes, Al Yasmina Academy
D – Dubai Exiles, Jumeirah English Speaking School, English College, Bahrain Colts

Recent winners

2018 – Dubai College
2017 – British School Al Khubairat
2016 – Dubai English Speaking School
2015 – Al Ain Amblers
2014 – Dubai College

The specs

Engine: 8.0-litre, quad-turbo 16-cylinder

Transmission: 7-speed auto

0-100kmh 2.3 seconds

0-200kmh 5.5 seconds

0-300kmh 11.6 seconds

Power: 1500hp

Torque: 1600Nm

Price: Dh13,400,000

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'I Want You Back'

Director:Jason Orley

Stars:Jenny Slate, Charlie Day

Rating:4/5

Why does a queen bee feast only on royal jelly?

Some facts about bees:

The queen bee eats only royal jelly, an extraordinary food created by worker bees so she lives much longer

The life cycle of a worker bee is from 40-60 days

A queen bee lives for 3-5 years

This allows her to lay millions of eggs and allows the continuity of the bee colony

About 20,000 honey bees and one queen populate each hive

Honey is packed with vital vitamins, minerals, enzymes, water and anti-oxidants.

Apart from honey, five other products are royal jelly, the special food bees feed their queen 

Pollen is their protein source, a super food that is nutritious, rich in amino acids

Beewax is used to construct the combs. Due to its anti-fungal, anti-bacterial elements, it is used in skin treatments

Propolis, a resin-like material produced by bees is used to make hives. It has natural antibiotic qualities so works to sterilize hive,  protects from disease, keeps their home free from germs. Also used to treat sores, infection, warts

Bee venom is used by bees to protect themselves. Has anti-inflammatory properties, sometimes used to relieve conditions such as rheumatoid arthritis, nerve and muscle pain

Honey, royal jelly, pollen have health enhancing qualities

The other three products are used for therapeutic purposes

Is beekeeping dangerous?

As long as you deal with bees gently, you will be safe, says Mohammed Al Najeh, who has worked with bees since he was a boy.

“The biggest mistake people make is they panic when they see a bee. They are small but smart creatures. If you move your hand quickly to hit the bees, this is an aggressive action and bees will defend themselves. They can sense the adrenalin in our body. But if we are calm, they are move away.”

 

 

Squid Game season two

Director: Hwang Dong-hyuk 

Stars:  Lee Jung-jae, Wi Ha-joon and Lee Byung-hun

Rating: 4.5/5

COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
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Director: Saeed Roustaee

Starring: Parinaz Izadyar, Payman Maadi

Rating: 4/5

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Engine: twin-turbocharged 3.5-liter V6

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Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

Honeymoonish
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Updated: March 08, 2023, 5:02 AM