A handout made available by Indonesia's National Disaster Management Agency (BNPB) shows residents gathering at a temporary shelter as flash flood affect the area in Sentani, near Jayapura, Papua province, Indonesia, 17 March 2019. EPA
A handout made available by Indonesia's National Disaster Management Agency (BNPB) shows residents gathering at a temporary shelter as flash flood affect the area in Sentani, near Jayapura, Papua province, Indonesia, 17 March 2019. EPA
A handout made available by Indonesia's National Disaster Management Agency (BNPB) shows residents gathering at a temporary shelter as flash flood affect the area in Sentani, near Jayapura, Papua province, Indonesia, 17 March 2019. EPA
A handout made available by Indonesia's National Disaster Management Agency (BNPB) shows residents gathering at a temporary shelter as flash flood affect the area in Sentani, near Jayapura, Papua prov

Indonesia floods: At least 58 dead in Papua


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Flash floods in Indonesia's eastern Papua province have killed at least 58 people, an official said on Sunday as rescuers battled mud, rocks and fallen trees in the hunt for survivors.

The death toll was expected to rise as emergency services struggled to reach people in hard-hit areas, with more than 70 people injured and 4,150 evacuated.

Separately, landslides triggered by two moderate earthquakes killed two people on the Indonesian island of Lombok on Sunday. They were among a group of about 40 Malaysian and domestic tourists visiting a popular waterfall in the north of the island. A local disaster agency official said three other members of the group had been rescued but the rest were trapped at the site.

The floods in Papua were triggered by torrential rain and landslides on Saturday and damaged numerous homes in the north-eastern town of Sentani, said national disaster agency spokesman Sutopo Purwo Nugroho.

"The number of casualties and impact of the disaster will likely increase as search and rescue teams are still trying to reach other affected areas," he said.

The waters had receded but officials were still trying to evacuate people from areas obstructed by "fallen trees, rocks, mud and other material", Mr Nugroho said.

In Doyo, one of the worst-affected areas, a housing complex was littered with huge rocks believed to have rolled down from a nearby mountain. Sediment and waste swept by the floods piled up on the pavement.

The non-stop wail of ambulance sirens could be heard, as heavy equipment was used to clear the roads.

The government has announced a 14-day state of emergency, said Victor Dean Mackbon, police chief in the provincial capital of Jayapura.

Officers rescued a five-month-old baby who was trapped for hours under the rubble, Papua military spokesman Muhammad Aidi said. The whereabouts of the parents are unknown.

A propeller plane lay partly crushed on a runway at the airport in Jayapura.

"The rain started last night and went on until around 1am this morning," said Lilis Puji Hastuti, a 29-year-old mother of two young children in Sentani.

"Our house was flooded with thick mud ... we immediately grabbed our valuables and ran to a neighbour's [two-storey] house to seek refuge.

"It's hard to get out of the area because many roads are blocked. I'm worried, sad and scared all at once," she said.

Papua shares a border with independent Papua New Guinea on an island just north of Australia.

Mr Nugroho said local authorities in Jayapura had been warned about the risk of flash floods because of deforestation in the surrounding mountains.

"Forest destruction in the Cyclops mountains have increased for use as firewood and to turn the land into plantations," he said.

Flooding is common in Indonesia, especially during the rainy season from October to April.

In January, floods and landslides killed at least 70 people on Sulawesi island, while earlier this month hundreds in West Java province were forced to evacuate when torrential rains triggered severe flooding.

The South-East Asian archipelago of some 17,000 islands is one of the most disaster-prone nations on Earth, straddling the Pacific Ring of Fire, where tectonic plates collide. Earthquakes and volcanic eruptions are common.

In December, the western part of Java island was slammed by a deadly volcano-triggered tsunami that killed about 400 people.

Also last year, the city of Palu in Sulawesi was rocked by a quake-tsunami disaster that killed thousands, while hundreds of others died in a series of quakes that hit the holiday island of Lombok, next to Bali.

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Starring: Siddhant Chaturvedi, Triptii Dimri 

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Women: Wadima Al Yafei and Mahra Al Hanaei (49kg), Bashayer Al Matrooshi and Hessa Al Shamsi (62kg)

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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Price, base: Dh1 million (estimate)

Engine: 6.75-litre twin-turbo V12

Transmission: Eight-speed automatic

Power: 563hp @ 5,000rpm

Torque: 850Nm @ 1,600rpm

Fuel economy, combined: 15L / 100km

All you need to know about Formula E in Saudi Arabia

What The Saudia Ad Diriyah E-Prix

When Saturday

Where Diriyah in Saudi Arabia

What time Qualifying takes place from 11.50am UAE time through until the Super Pole session, which is due to end at 12.55pm. The race, which will last for 45 minutes, starts at 4.05pm.

Who is competing There are 22 drivers, from 11 teams, on the grid, with each vehicle run solely on electronic power.

Brief scores:

Manchester United 4

Young 13', Mata 28', Lukaku 42', Rashford 82'

Fulham 1

Kamara 67' (pen),

Red card: Anguissa (68')

Man of the match: Juan Mata (Man Utd)