Kaavan the elephant interacted with another elephant for the first time in years after being taken from Pakistan to Cambodia on Monday.
He was resettled following a global campaign led by American singer Cher.
Animal welfare organisation Four Paws moved Kaavan – an overweight, 36-year-old bull elephant – from Islamabad Zoo to a wildlife sanctuary in Oddar Meanchey province in northern Cambodia and announced the meeting between the animals on Twitter.
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US pop singer Cher gestures in front of the crate of Kaavan the Asian elephant upon his arrival in Cambodia from Pakistan at Siem Reap International Airport on November 30, 2020. AFP -

Cher arrives at Siem Reap International Airport, Cambodia. EPA -

Cher watches as rescued elephant Kaavan arrives at the international airport in Siem Reap, Cambodia. AP -

Kavaan is offloaded from the plane in Siem Reap airport arrival in Cambodia. Courtesy Four Paws -

Kavaan arrives in Cambodia. Courtesy Four Paws -

Cher holds a welcoming sign for rescued elephant Kaavan in Siem Reap, Cambodia. AP -

Cher and Cambodia's Deputy Minister of Environment Neth Pheaktra await the arrival of a crate containing Kaavan the elephant from Pakistan at Siem Reap International Airport. AFP -

Cher and Cambodia's Deputy Minister of Environment Neth Pheaktra await the arrival of a crate containing Kaavan the elephant from Pakistan at Siem Reap International Airport. AFP -

Cher reacts as the crate containing Kaavan the Asian elephant is opened for his release into his new home in the Kulen Prom Tep Wildlife Sanctuary in Oddar Meanchey Province. AFP -

Cher arrives at Siem Reap International Airport in Cambodia. EPA -

Cher at the arrival of Kavaan in Cambodia. Courtesy Four Paws -

Elephant Kaavan is finally relocated from Marghazar Zoo in Islamabad to Cambodia. Four Paws -

Elephant Kaavan is finally relocated from Marghazar Zoo in Islamabad to Cambodia. Four Paws -

Amir Khalil, a veterinarian and director of the project development for Four Paws International, feeds Kaavan, Pakistan's only Asian elephant, in a crate prior to transport it to a sanctuary in Cambodia, at the Marghazar Zoo in Islamabad. AFP -

Pakistani wildlife workers, officials and experts from the international animal welfare organization Four Paws, pose for photograph next to a crate holding an elephant named Kaavan before he is transported to a sanctuary in Cambodia, at the Marghazar Zoo in Islamabad, Pakistan. AP -

Veterinarians from the international animal welfare organization Four Paws inject medicine to an elephant named Kaavan before transporting him to a sanctuary in Cambodia. AP -

Pakistani wildlife workers and experts from the international animal welfare organization Four Paws, use a crane to move a crate carrying an elephant named Kaavan before transporting him to a sanctuary in Cambodia. AP -

Pakistani wildlife workers and experts from the international animal welfare organization Four Paws, arrange an elephant named Kaavan into a crate before he is transported to a sanctuary in Cambodia. AP -

American Iconic singer and actress Cher visits the elephant named 'Kaavan' at Maragzar zoo in Islamabad, Pakistan. EPA -

American Iconic singer and actress Cher visits the elephant named 'Kaavan' at Maragzar zoo in Islamabad, Pakistan. EPA -

Pakistan's Prime Minister Imran Khan meeting with American pop icon Cher, in Islamabad, Pakistan. EPA -

Pakistan's Prime Minister Imran Khan meeting with American pop icon Cher, in Islamabad, Pakistan. EPA -

A photographer takes a picture of an elephant named "Kaavan" waiting to be transported to a sanctuary in Cambodia, at the Maragzar Zoo in Islamabad, Pakistan. AP -

Officials of Four Paws International and wildlife rangers move Kavaan, Pakistan's only Asian elephant, into a crate prior to transport it to a sanctuary in Cambodia, at the Marghazar Zoo in Islamabad. AFP
"Seeing Kaavan interacting with other elephants is a huge moment for us but more importantly for Kaavan. We are extremely moved," the organisation tweeted on Tuesday, along with a photo of Kaavan reaching through the bars of a fence to touch trunks with another elephant.
Kaavan arrived in Cambodia by cargo plane to start a new life with 600 other elephants.
Cher wrote songs that urged authorities to release Kaavan from grim, isolated conditions in the zoo where he spent much of his life alone.
She spent time with the animal in the days before he was flown to his new home.
The singer was also on the tarmac at the airport of Cambodia's second-biggest city, Siem Reap, to greet the elephant and met the vets who accompanied him on his long journey in a custom-made crate, with more than 200 kilograms of food to keep him busy.
Dozens of wildlife workers and experts used a winch and rope to pull the sedated elephant into the crate before he was loaded on to the Russian-built cargo plane.
His crate had the words #FreeKaavan painted on the side.
Neth Pheaktra, Secretary of State and spokesman for Cambodia's Environment Ministry, praised Four Paws and Cher for their efforts to help Kaavan and said Cambodia would be the ideal home for him.
"Cambodia is pleased to welcome Kaavan. No longer will he be the world's loneliest elephant," he said at a welcome ceremony.
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UAE squad Rohan Mustafa (c), Ashfaq Ahmed, Ghulam Shabber, Rameez Shahzad, Mohammed Boota, Mohammed Usman, Adnan Mufti, Shaiman Anwar, Ahmed Raza, Imran Haider, Qadeer Ahmed, Mohammed Naveed, Amir Hayat, Zahoor Khan
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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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Funding stage: series A; $20 million
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Keep it fun and engaging
Stuart Ritchie, director of wealth advice at AES International, says children cannot learn something overnight, so it helps to have a fun routine that keeps them engaged and interested.
“I explain to my daughter that the money I draw from an ATM or the money on my bank card doesn’t just magically appear – it’s money I have earned from my job. I show her how this works by giving her little chores around the house so she can earn pocket money,” says Mr Ritchie.
His daughter is allowed to spend half of her pocket money, while the other half goes into a bank account. When this money hits a certain milestone, Mr Ritchie rewards his daughter with a small lump sum.
He also recommends books that teach the importance of money management for children, such as The Squirrel Manifesto by Ric Edelman and Jean Edelman.
