• A satellite image taken over Galwan Valley in Ladakh, India, parts of which are contested with China, June 16, 2020, in this handout obtained from Planet Labs Inc. REUTERS
    A satellite image taken over Galwan Valley in Ladakh, India, parts of which are contested with China, June 16, 2020, in this handout obtained from Planet Labs Inc. REUTERS
  • An Indian army convoy makes way towards Leh, bordering China, in Gagangir. Twenty Indian soldiers were killed during "hand-to-hand' fighting with Chinese troops in a disputed Himalayan region, India's military said, the first deadly clash between the nuclear powers in decades. AFP
    An Indian army convoy makes way towards Leh, bordering China, in Gagangir. Twenty Indian soldiers were killed during "hand-to-hand' fighting with Chinese troops in a disputed Himalayan region, India's military said, the first deadly clash between the nuclear powers in decades. AFP
  • In this May 5, 2013 photo, Chinese troops hold a banner which reads: "You've crossed the border, please go back" in Ladakh, India. China on Tuesday, June 16, 2020 accused Indian forces along their Himalayan border of carrying out "provocative attacks" on its troops, leading to "serious physical conflicts" between the sides. AP Photo
    In this May 5, 2013 photo, Chinese troops hold a banner which reads: "You've crossed the border, please go back" in Ladakh, India. China on Tuesday, June 16, 2020 accused Indian forces along their Himalayan border of carrying out "provocative attacks" on its troops, leading to "serious physical conflicts" between the sides. AP Photo
  • Indian Border Security Force (BSF) soldiers guard a highway leading towards Leh, bordering China, in Gagangir. The long-running border dispute between Asian nuclear powers India and China turned deadly for the first time in nearly half a century after at least 20 Indian soldiers were killed in a "violent face-off", the army said. AFP
    Indian Border Security Force (BSF) soldiers guard a highway leading towards Leh, bordering China, in Gagangir. The long-running border dispute between Asian nuclear powers India and China turned deadly for the first time in nearly half a century after at least 20 Indian soldiers were killed in a "violent face-off", the army said. AFP
  • The father and mother of Colonel Santosh Babu, who was killed in border clashes with Chinese troops, sit next to his portrait, in Suryapet,Telangana state, India. REUTERS
    The father and mother of Colonel Santosh Babu, who was killed in border clashes with Chinese troops, sit next to his portrait, in Suryapet,Telangana state, India. REUTERS
  • Police set up barricades outside the Chinese embassy in New Delhi. The long-running border dispute between Asian nuclear powers India and China turned deadly for the first time in nearly half a century after at least 20 Indian soldiers were killed in a "violent face-off", the army said on June 16. AFP
    Police set up barricades outside the Chinese embassy in New Delhi. The long-running border dispute between Asian nuclear powers India and China turned deadly for the first time in nearly half a century after at least 20 Indian soldiers were killed in a "violent face-off", the army said on June 16. AFP
  • Indian Border Security Force (BSF) soldiers guard a highway leading towards Leh, bordering China, in Gagangir. The long-running border dispute between Asian nuclear powers India and China turned deadly for the first time in nearly half a century after at least 20 Indian soldiers were killed in a "violent face-off", the army said on June 16. AFP
    Indian Border Security Force (BSF) soldiers guard a highway leading towards Leh, bordering China, in Gagangir. The long-running border dispute between Asian nuclear powers India and China turned deadly for the first time in nearly half a century after at least 20 Indian soldiers were killed in a "violent face-off", the army said on June 16. AFP
  • Supporters of India's ruling Bharatiya Jayanta Party (BJP) attempt to burn a sheet resembling the Chinese national flag during a protest against China, in Kochi, India. REUTERS
    Supporters of India's ruling Bharatiya Jayanta Party (BJP) attempt to burn a sheet resembling the Chinese national flag during a protest against China, in Kochi, India. REUTERS
  • Anti-China protesters display placards urging citizens to boycott Chinese goods at a market in New Delhi. Twenty Indian soldiers were killed during "hand-to-hand' fighting with Chinese troops in a disputed Himalayan region, India's military said, the first deadly clash between the nuclear powers in decades. AFP
    Anti-China protesters display placards urging citizens to boycott Chinese goods at a market in New Delhi. Twenty Indian soldiers were killed during "hand-to-hand' fighting with Chinese troops in a disputed Himalayan region, India's military said, the first deadly clash between the nuclear powers in decades. AFP
  • Chinese police and security personnel stand outside the Indian embassy in Beijing. Beijing's state media on June 17 played down a deadly border confrontation between Chinese and Indian troops and did not reveal casualties on its side even as social media users urged retaliation. The Indian army said Tuesday that 20 of its soldiers were killed in a "violent face-off" along the Himalayan frontier on June 16, which resulted in "casualties on both sides". AFP
    Chinese police and security personnel stand outside the Indian embassy in Beijing. Beijing's state media on June 17 played down a deadly border confrontation between Chinese and Indian troops and did not reveal casualties on its side even as social media users urged retaliation. The Indian army said Tuesday that 20 of its soldiers were killed in a "violent face-off" along the Himalayan frontier on June 16, which resulted in "casualties on both sides". AFP

China sent martial artists and rock climbers to India border before deadly brawl


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Chinese state media said the country reinforced its troops near the Indian border with mountain climbers and martial artists before a deadly clash this month.

Tensions are common between the two nuclear-armed neighbours in the mountainous border terrain, but this month's fighting was their deadliest encounter in more than 50 years.

Five new militia divisions, including former members of a Mount Everest Olympic torch relay team and fighters from a Mixed Martial Arts club, presented themselves for inspection at Lhasa on June 15, the official military newspaper China National Defence News reported.

State broadcaster CCTV showed footage of hundreds of new troops lining up in the Tibetan capital.

Tibet commander Wang Haijiang said the Enbo Fight Club recruits would "greatly raise the organisation and mobilisation strength" of troops and their "rapid response and support ability". He did not explicitly confirm their deployment was linked to ongoing border tensions.

Chinese and Indian troops clashed later that day in the most violent confrontation between the two powers in decades, in the Ladakh region 1,300 kilometres away.

India says 20 of its own soldiers were killed in brutal hand-to-hand combat that day, while China suffered an unknown number of casualties.

Both sides have blamed each other for the battle, which was fought with rocks and batons without any shots fired.

India said on Thursday that it had reinforced troops in the contested Himalayan border region, saying it was matching a similar build-up by China.

Chinese state media have in recent weeks highlighted military activity including high-altitude anti-aircraft drills in the Tibet region bordering India.

The new troops were recruited with the aim of "strengthening the border and stabilising Tibet", China National Defence News said.

India said Chinese troops ambushed Indian soldiers and forced them down a ridge where they had gone to remove a Chinese "encroachment".

A bilateral accord prevents the use of guns, but the fighting was still fierce with rudimentary weapons.

China, in turn, accused Indian soldiers of twice crossing the Line of Actual Control, the unofficial boundary, provoking its troops.

The two countries fought a war over the border in 1962. There is an understanding between the nuclear powers that their troops in the disputed and inhospitable region will not use firearms.

Pakistan Super League

Previous winners

2016 Islamabad United

2017 Peshawar Zalmi

2018 Islamabad United

2019 Quetta Gladiators

 

Most runs Kamran Akmal – 1,286

Most wickets Wahab Riaz –65

What is the definition of an SME?

SMEs in the UAE are defined by the number of employees, annual turnover and sector. For example, a “small company” in the services industry has six to 50 employees with a turnover of more than Dh2 million up to Dh20m, while in the manufacturing industry the requirements are 10 to 100 employees with a turnover of more than Dh3m up to Dh50m, according to Dubai SME, an agency of the Department of Economic Development.

A “medium-sized company” can either have staff of 51 to 200 employees or 101 to 250 employees, and a turnover less than or equal to Dh200m or Dh250m, again depending on whether the business is in the trading, manufacturing or services sectors. 

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How to register as a donor

1) Organ donors can register on the Hayat app, run by the Ministry of Health and Prevention

2) There are about 11,000 patients in the country in need of organ transplants

3) People must be over 21. Emiratis and residents can register. 

4) The campaign uses the hashtag  #donate_hope

Emergency

Director: Kangana Ranaut

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

Rating: 2/5

The specs: 2018 Mercedes-Benz E 300 Cabriolet

Price, base / as tested: Dh275,250 / Dh328,465

Engine: 2.0-litre four-cylinder

Power: 245hp @ 5,500rpm

Torque: 370Nm @ 1,300rpm

Transmission: Nine-speed automatic

Fuel consumption, combined: 7.0L / 100km

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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MOUNTAINHEAD REVIEW

Starring: Ramy Youssef, Steve Carell, Jason Schwartzman

Director: Jesse Armstrong

Rating: 3.5/5

GOLF’S RAHMBO

- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)

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

 

 

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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.

UAE currency: the story behind the money in your pockets
The National Archives, Abu Dhabi

Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.

Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en