SANAA // Warplanes from the Saudi Arabia-led coalition supporting pro-government Yemeni forces raided rebel positions east of the capital yesterday, military sources said.
The air strikes targeted the Iranian-backed Houthis in the west of Marib province, amid ongoing clashes between the rebels and forces loyal to president Abdrabu Mansur Hadi.
Pro-Hadi fighters, backed by coalition forces that include troops from the UAE, are preparing to advance on the capital Sanaa.
Last night, coalition warplanes struck rebel arms depots on Nahdain hill, south of Sanaa, witnesses said.
The attacks came as Brig Gen Ahmed Al Assiri, a Saudi spokesman for the coalition, told Al Arab television that the coalition had not received a pledge from the Houthi leadership to commit to a ceasefire and recognise the legitimate government of Mr Hadi.
“If that happens, it will be announced formally by the Yemeni government and the United Nations,” he said.
His remarks came after the Houthis and their allies told mediators on Wednesday that they were ready to accept a United Nations peace agreement after suffering repeated military defeats.
Under the plan, they would have to accept a UN Security Council resolution calling for rebels to withdraw from territories they had captured and for them to hand over weapons and equipment they had seized from Yemen’s military.
Meanwhile, the Houthis and allied fighters loyal to former president Ali Abdullah Saleh tightened their siege on the western city of Taez, preventing the entry of medical supplies and water. Taez is controlled by government loyalists and has been shelled by the rebels for months. Securing Taez would allow pro-government forces to push north towards Sanaa.
Pro-government fighters were also advancing on the nearby Red Sea port of Mokha, which is located along rebel supply lines to Taez, said Brig Gen Samir Al Haj.
In response, the Houthis have deployed fighters to Turba, a largely abandoned town that leads to Taez’s barely-defended south-eastern areas, according to the rebels’ officials.
In July, Hadi loyalists backed by coalition forces liberated the port city of Aden, to which the government returned last month after six months in exile in Saudi Arabia.
Also on Friday, raids targeted rebels in Hodeida, in western Yemen, other military sources said.
After they overran Sanaa in September 2014, the Houthis widened their control to several Yemeni provinces, advancing in March on Aden, where Mr Hadi had taken refuge before fleeing to Riyadh.
The coalition then launched a fierce air campaign against them and Mr Saleh’s loyalists.
The coalition has been criticised for the civilian death toll in its campaign. On Wednesday, it denied its warplanes had bombed a wedding in a Houthi-held town, dismissing the report as rebel propaganda. “We did not conduct any operation in Dhamar,” said Brig Gen Al Assiri, referring to the province where the strike allegedly took place.
“No strikes there. Definitely.”
“Targeting remains difficult in the current environment ... lack of intelligence and deliberate acts of perfidy by Houthis and loyalists,” said Andreas Krieg, a professor in the department of defence studies at King’s College London.
“I think that these attacks were committed by Houthi rebels or loyalists trying to intimidate local communities. Locals tend to think that they were targeted by air strikes,” added Mr Krieg, who also serves as a consultant to the Qatari armed forces.
The UN says at least 2,355 civilians have been killed in Yemen since March.
* Wam, Agence France-Presse
COMPANY%20PROFILE
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COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
The National photo project
Chris Whiteoak, a photographer at The National, spent months taking some of Jacqui Allan's props around the UAE, positioning them perfectly in front of some of the country's most recognisable landmarks. He placed a pirate on Kite Beach, in front of the Burj Al Arab, the Cheshire Cat from Alice in Wonderland at the Burj Khalifa, and brought one of Allan's snails (Freddie, which represents her grandfather) to the Dubai Frame. In Abu Dhabi, a dinosaur went to Al Ain's Jebel Hafeet. And a flamingo was taken all the way to the Hatta Mountains. This special project suitably brings to life the quirky nature of Allan's prop shop (and Allan herself!).
MATCH INFO
Uefa Champions League final:
Who: Real Madrid v Liverpool
Where: NSC Olimpiyskiy Stadium, Kiev, Ukraine
When: Saturday, May 26, 10.45pm (UAE)
TV: Match on BeIN Sports
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
What should do investors do now?
What does the S&P 500's new all-time high mean for the average investor?
Should I be euphoric?
No. It's fine to be pleased about hearty returns on your investments. But it's not a good idea to tie your emotions closely to the ups and downs of the stock market. You'll get tired fast. This market moment comes on the heels of last year's nosedive. And it's not the first or last time the stock market will make a dramatic move.
So what happened?
It's more about what happened last year. Many of the concerns that triggered that plunge towards the end of last have largely been quelled. The US and China are slowly moving toward a trade agreement. The Federal Reserve has indicated it likely will not raise rates at all in 2019 after seven recent increases. And those changes, along with some strong earnings reports and broader healthy economic indicators, have fueled some optimism in stock markets.
"The panic in the fourth quarter was based mostly on fears," says Brent Schutte, chief investment strategist for Northwestern Mutual Wealth Management Company. "The fundamentals have mostly held up, while the fears have gone away and the fears were based mostly on emotion."
Should I buy? Should I sell?
Maybe. It depends on what your long-term investment plan is. The best advice is usually the same no matter the day — determine your financial goals, make a plan to reach them and stick to it.
"I would encourage (investors) not to overreact to highs, just as I would encourage them not to overreact to the lows of December," Mr Schutte says.
All the same, there are some situations in which you should consider taking action. If you think you can't live through another low like last year, the time to get out is now. If the balance of assets in your portfolio is out of whack thanks to the rise of the stock market, make adjustments. And if you need your money in the next five to 10 years, it shouldn't be in stocks anyhow. But for most people, it's also a good time to just leave things be.
Resist the urge to abandon the diversification of your portfolio, Mr Schutte cautions. It may be tempting to shed other investments that aren't performing as well, such as some international stocks, but diversification is designed to help steady your performance over time.
Will the rally last?
No one knows for sure. But David Bailin, chief investment officer at Citi Private Bank, expects the US market could move up 5 per cent to 7 per cent more over the next nine to 12 months, provided the Fed doesn't raise rates and earnings growth exceeds current expectations. We are in a late cycle market, a period when US equities have historically done very well, but volatility also rises, he says.
"This phase can last six months to several years, but it's important clients remain invested and not try to prematurely position for a contraction of the market," Mr Bailin says. "Doing so would risk missing out on important portfolio returns."
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COMPANY PROFILE
Company name: Letstango.com
Started: June 2013
Founder: Alex Tchablakian
Based: Dubai
Industry: e-commerce
Initial investment: Dh10 million
Investors: Self-funded
Total customers: 300,000 unique customers every month
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COMPANY%20PROFILE
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Abaya trends
The utilitarian robe held dear by Arab women is undergoing a change that reveals it as an elegant and graceful garment available in a range of colours and fabrics, while retaining its traditional appeal.
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The specs
Engine: 1.5-litre, 4-cylinder turbo
Transmission: CVT
Power: 170bhp
Torque: 220Nm
Price: Dh98,900
About Proto21
Date started: May 2018
Founder: Pir Arkam
Based: Dubai
Sector: Additive manufacturing (aka, 3D printing)
Staff: 18
Funding: Invested, supported and partnered by Joseph Group
The specs: Rolls-Royce Cullinan
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
UAE currency: the story behind the money in your pockets
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Paatal Lok season two
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KILLING OF QASSEM SULEIMANI
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Engine: Dual 180kW and 300kW front and rear motors
Power: 480kW
Torque: 850Nm
Transmission: Single-speed automatic
Price: From Dh359,900 ($98,000)
On sale: Now
Ain Dubai in numbers
126: The length in metres of the legs supporting the structure
1 football pitch: The length of each permanent spoke is longer than a professional soccer pitch
16 A380 Airbuses: The equivalent weight of the wheel rim.
9,000 tonnes: The amount of steel used to construct the project.
5 tonnes: The weight of each permanent spoke that is holding the wheel rim in place
192: The amount of cable wires used to create the wheel. They measure a distance of 2,4000km in total, the equivalent of the distance between Dubai and Cairo.
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5