Ten Taliban die in failed attack on US bases



At least 10 Taliban militants, including suicide bombers, were killed today in a failed attempt to storm two US-run bases in a volatile town in eastern Afghanistan, Nato said. A statement by the International Security Assistance Force (Isaf), Nato's mission in Afghanistan, said that its troops had "repelled two failed attacks at bases in Khost" town after these had come "under indirect and small arms fire.

Nato said at least 10 insurgents were killed and several more captured. Local police chief Adbul Hakim Is'haqzai said the assault was foiled after militants attacked Forward Operating Base Salerno before retreating to occupy a secondary school near Camp Chapman, a smaller US outpost in Khost city, the provincial capital. In December Camp Chapman became the scene of the worst attack on US intelligence officials since 1983, when seven CIA agents were killed by a suicide bomber. Today's assault began when insurgents launched rockets and gunfire on FOB Salerno in the early hours of the morning, Mr Is'haqzai said. He said the attackers had then turned on Chapman, closer to the city. "The attack has been foiled," Mr Is'haqzai said. "We have recovered 14 bodies, those of Taliban who were killed fighting. Five Taliban have been captured alive."

The fighting lasted for several hours with the remaining Taliban attackers shooting at security forces from positions in a cornfield near the school that had been attacked earlier, he said. The police chief said the Taliban death toll was likely to rise as a search operation continued. He said that two vehicles used in the attack had been seized, one of which was "packed with explosives" and which security forces were working to defuse. The police chief could not say how many militants had carried out the attack, but another police official, who did not want to be named, said there were about 20 to 25, "most of whom have been killed."

Taliban spokesman Zabihullah Mujahed contacted AFP to say the insurgent group had despatched suicide bombers to the base. "Twenty-eight Taliban suicide bombers have launched an attack on a coalition base in Khost," he said from an undisclosed location. "They have entered the base," he said. The Taliban are known to exaggerate their claims. FOB Salerno was visited on August 19 by the commander of international forces in Afghanistan, US Gen David Petraeus, where he met the 3rd Brigade Combat Team of the 101st Airborne Division, which he formerly commanded, according to a statement on ISAF's website. Gen Petraeus told them: "You are all in a tough neighbourhood and in a very challenging environment. You are faced with extreme terrain, tough weather and tough enemies. The insurgents you face most in this area are very tough fighters, they are experienced, generally pretty well-equipped and they know the neighbourhood," he told the troops.

* AFP

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The Bio

Favourite vegetable: “I really like the taste of the beetroot, the potatoes and the eggplant we are producing.”

Holiday destination: “I like Paris very much, it’s a city very close to my heart.”

Book: “Das Kapital, by Karl Marx. I am not a communist, but there are a lot of lessons for the capitalist system, if you let it get out of control, and humanity.”

Musician: “I like very much Fairuz, the Lebanese singer, and the other is Umm Kulthum. Fairuz is for listening to in the morning, Umm Kulthum for the night.”

Top investing tips for UAE residents in 2021

Build an emergency fund: Make sure you have enough cash to cover six months of expenses as a buffer against unexpected problems before you begin investing, advises Steve Cronin, the founder of DeadSimpleSaving.com.

Think long-term: When you invest, you need to have a long-term mindset, so don’t worry about momentary ups and downs in the stock market.

Invest worldwide: Diversify your investments globally, ideally by way of a global stock index fund.

Is your money tied up: Avoid anything where you cannot get your money back in full within a month at any time without any penalty.

Skip past the promises: “If an investment product is offering more than 10 per cent return per year, it is either extremely risky or a scam,” Mr Cronin says.

Choose plans with low fees: Make sure that any funds you buy do not charge more than 1 per cent in fees, Mr Cronin says. “If you invest by yourself, you can easily stay below this figure.” Managed funds and commissionable investments often come with higher fees.

Be sceptical about recommendations: If someone suggests an investment to you, ask if they stand to gain, advises Mr Cronin. “If they are receiving commission, they are unlikely to recommend an investment that’s best for you.”

Get financially independent: Mr Cronin advises UAE residents to pursue financial independence. Start with a Google search and improve your knowledge via expat investing websites or Facebook groups such as SimplyFI. 

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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Fuel economy combined 12.2L / 100km

How tumultuous protests grew
  • A fuel tax protest by French drivers appealed to wider anti-government sentiment
  • Unlike previous French demonstrations there was no trade union or organised movement involved 
  • Demonstrators responded to online petitions and flooded squares to block traffic
  • At its height there were almost 300,000 on the streets in support
  • Named after the high visibility jackets that drivers must keep in cars 
  • Clashes soon turned violent as thousands fought with police at cordons
  • An estimated two dozen people lost eyes and many others were admitted to hospital