At least 23 children are among the scores wounded after an explosion at a high-security rest and recovery compound in east Kabul killed four on Monday.
At least four were killed and over 90 thought to be wounded in the explosion in the 9th district of Kabul, Ministry of Interior Ministry Spokesman Najib Danish said in a tweet. But that number is expected to rise and at least four deaths have been reported.
"Most of the victims were civilians," said Mr Danish.
Until recently some United Nations’ staff had lived and worked at the highly secure compound, but Mr Danish said the area was now largely empty and “only a number of guards” were left.
“Residential houses nearby have sustained heavy damage,” Mr Danish said. “Special police forces’ units have been deployed to the site to check if there are more attackers.”
Hayat Khan was having dinner with his family at his home when the explosion shattered the windows.
"All of my family are wounded. They have received injuries on the head, hands, legs and on the neck," he said.
Mr Khan and his family were being treated at the Wazir Akbar Khan hospital.
The blast came as the Independent Election Commission announced preliminary results of the country's parliamentary elections.
Police spokesman Basir Mujahid said a vehicle full of explosives had been detonated. "The area is cordoned off ... and search operation underway for suspects and attackers," he said.
"It was a powerful car bomb that knocked [down] a wall between Green Village and the customs office," a security source said.
An official at Kabul's Emergency Hospital said 15 wounded had been brought there, while a witnesses saw dozens of severely injured people being rushed to Wazir Akbar Khan Hospital from the blast site.
A senior Interior Ministry official said the explosion destroyed at least three checkpoints.
In Mr Danish’s tweet he said that
"Residential buildings nearby have sustained heavy damage and several private guards around the Green Village checkpoints were critically injured," the official said.
There was no immediate claim of responsibility for the bombing. Green Village has come under attack from militants in the past.
The Green Village is a retreat for NGO and foreign workers in the east of the capital city in an area that houses international companies and aid agency offices. Tolo News reported. The Green Village houses a spa, business centre, restaurants and a gym.
The blast was heard across the city, followed by gunfire and emergency sirens.
A resident who lives close to the site of the explosion, but declined to give his name, said that their building had been "rocked damn good" by the blast. People on social media were sharing images of their buildings some distance from the explosion with smashed or cracked windows.
The election commission said on Monday that 24 male and nine female candidates were among those who have secured seats in parliament in preliminary results.
The October elections were marred by delays and technical difficulties as well as security concerns.
Afghans are due to go to the polls again this year in a presidential election where President Ashraf Ghani and Chief Executive Abdullah Abdullah will defend their record in ending the 17-year war with the Taliban.
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Read more:
Taliban cancel Afghanistan peace talks with the United States
Taliban blames US and Afghan forces for most civilian casualties in 2018
Iran says they held Taliban talks as Afghan peace push continues
Afghans brace for an even deadlier 2019 as hope for peace fades
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The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.
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What vitamins do we know are beneficial for living in the UAE
Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.
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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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