Pakistani women sit on rubble of a school blown up by alleged Islamic militants in Mingora, capital of troubled Swat valley in Pakistan on Thursday, Feb. 26, 2009. Taliban militants in Pakistan's Swat valley have extended a cease-fire, strengthening a peace process that Western governments say risks granting a safe haven to extremists close to the Afghan border. (AP Photo/B.K.Bangash)
Women sit on rubble of a school blown up by alleged Islamic militants in Mingora, capital of troubled Swat valley in Pakistan.

Schools open in Swat, but girls prefer to stay at home



ISLAMABAD // Hinna Khan will never forget the day last year when Taliban militants threatened to throw acid on her face for an act they declared to be un-Islamic. Her crime: attending school.

The then-13-year-old native of Pakistan's embattled Swat valley was just one of tens of thousands of young girls barred from attending school following an extremist order that deemed female education to be a violation of Islamic teachings. "The girls were scared," she said. "They saw girls being killed; they saw girls being skinned; and they were scared of this happening to them." Now safe in Islamabad after her parents opted to flee their hometown with their five children, Hinna is far more fortunate than the majority of her friends in Swat.

After more than a year of fighting between insurgents and the Pakistani army, a ceasefire signed last month has brought an eerie calm to Swat. The agreement, regarded by many as a victory for the Taliban, granted their longtime demand of imposing a form of Sharia in Swat. In return, the Taliban has agreed to allow girls to return to classes. Officials estimate that attendance at schools in Swat was at a mere 40 per cent last week, citing security fears as a deterrent for many.

The government has thus far re-opened all boys' schools, but only the primary section - up to age 10 - in girls' schools. Nearly 200 schools have been bombed by the militants since they launched their campaign against girls' education over a year ago. Government officials estimate that as much as 800 million rupees (Dh36.7 million) is needed to rebuild the damaged schools. Militants said they would allow girls to return to school provided they wore a veil and observed purdah - the practice of total separation from men and boys. However, some remain sceptical about the Taliban's sincerity.

Yasmine Khan, a women's rights activist and Swat native, said promises to reopen the schools this week were merely a facade. "Many of the schools' doors have opened but the girls are not going - they won't go. They are very, very scared," said Ms Khan, the programme co-ordinator for the Female Human Rights Organisation (Fehro) for Swat. While many in the region welcomed the ceasefire and enforcement of Islamic law, Hinna and many other Pakistanis fear that peace in Swat remains far too fragile.

"The girls are scared that if they go back to school, the Taliban will once again come out on to the streets, so they will not go back to school" said Hinna. "Just because the government and the militants say that peace has been established in the region, it doesn't mean it's true." Over the past two years, the Swat valley, a one-time honeymooners' haven and Pakistan's only skiing destination, has transformed into the front line for Pakistan's domestic war on terrorism. More than 1,500 people have been killed and at least 100,000 have fled. Women have been banned from walking in the streets in many towns and kidnappings and beheadings of those citizens, as well as journalists, deemed to have violated the Taliban's strict interpretation of Sharia are common.

Until its unification with Pakistan in 1969, the Swat valley had observed its own tribal system of governance. Longtime calls for a return to a Sharia-based system as an alternative to Pakistan's drawn-out federal legal proceedings may have contributed to the rise of the jihadist preacher, Maulana Fazlullah, and the valley's subsequent "Talibanisation", mirroring that of nearby Afghanistan. The subsequent year-long operations by the Pakistani military led to a bloody clash, with civilians caught in the crossfire.

"The whole thing is very disgusting and we the people of Swat are so helpless," Ms Khan said.It remains to be seen whether the ceasefire will stay in place. It was signed with Taliban leaders in the Malakand region, which includes Swat, as well as in Bajaur, one of seven Federally Administered Tribal Areas along the Afghan border. Many here doubt whether the government will be able to heal the recent wounds of Swat and restore law and order to the valley.

"I don't think the deal will hold, I don't think the Taliban will disarm and I don't think students and teachers will return to Swat in a big hurry," said Ahmed Rashid, a journalist and the author of a best-selling book, Taliban. "But because of the terror campaign in Swat, nobody has the courage to speak out against it." vsalama@thenational.ae

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UAE v Gibraltar

What: International friendly

When: 7pm kick off

Where: Rugby Park, Dubai Sports City

Admission: Free

Online: The match will be broadcast live on Dubai Exiles’ Facebook page

UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)

Tu Jhoothi Main Makkaar

Director: Luv Ranjan

Stars: Ranbir Kapoor, Shraddha Kapoor, Anubhav Singh Bassi and Dimple Kapadia

Rating: 3/5

Scoreline:

Barcelona 2

Suarez 85', Messi 86'

Atletico Madrid 0

Red card: Diego Costa 28' (Atletico)

COMPANY PROFILE

Company name: Almouneer
Started: 2017
Founders: Dr Noha Khater and Rania Kadry
Based: Egypt
Number of staff: 120
Investment: Bootstrapped, with support from Insead and Egyptian government, seed round of
$3.6 million led by Global Ventures

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Group B: Belgium, Russia, Denmark, Finland

Group C: Netherlands, Ukraine, Austria, 
Georgia/Kosovo/Belarus/North Macedonia

Group D: England, Croatia, Czech Republic, 
Scotland/Israel/Norway/Serbia

Group E: Spain, Poland, Sweden, 
N.Ireland/Bosnia/Slovakia/Ireland

Group F: Germany, France, Portugal, 
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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.”

UFC Fight Night 2

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4am-7am – Main card

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The specs

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Price: From Dh129,999 (VX Luxury); from Dh149,999 (VX Black Gold)

Company profile

Company name: Fasset
Started: 2019
Founders: Mohammad Raafi Hossain, Daniel Ahmed
Based: Dubai
Sector: FinTech
Initial investment: $2.45 million
Current number of staff: 86
Investment stage: Pre-series B
Investors: Investcorp, Liberty City Ventures, Fatima Gobi Ventures, Primal Capital, Wealthwell Ventures, FHS Capital, VN2 Capital, local family offices

SQUADS

Bangladesh (from): Shadman Islam, Mominul Haque, Soumya Sarkar, Shakib Al Hasan (capt), Mahmudullah Riyad, Mohammad Mithun, Mushfiqur Rahim, Liton Das, Taijul Islam, Mosaddek Hossain, Nayeem Hasan, Mehedi Hasan, Taskin Ahmed, Ebadat Hossain, Abu Jayed

Afghanistan (from): Rashid Khan (capt), Ihsanullah Janat, Javid Ahmadi, Ibrahim Zadran, Rahmat Shah, Hashmatullah Shahidi, Asghar Afghan, Ikram Alikhil, Mohammad Nabi, Qais Ahmad, Sayed Ahmad Shirzad, Yamin Ahmadzai, Zahir Khan Pakteen, Afsar Zazai, Shapoor Zadran

EMERGENCY PHONE NUMBERS

Estijaba – 8001717 –  number to call to request coronavirus testing

Ministry of Health and Prevention – 80011111

Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre

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Ambulance – 998

Knowledge and Human Development Authority – 8005432 ext. 4 for Covid-19 queries