12 dead as heavy snow and flooding slams Europe


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BERLIN // Freezing temperatures and often blinding snowfall has killed 12 more people and caused travel chaos across northern Europe, while some of the worst floods in a century devastated parts of the Balkans.

Airports closed down or delayed flights across the continent, roads were coated in an impassible mix of ice and snow and even Europe's vaunted high-speed trains struggled to cope.

Authorities declared a state of emergency in three Balkan countries on Thursday - Bosnia, Serbia and Montenegro - and were evacuating hundreds of people after heavy rainfall caused severe flooding along the Drina River - the worst in 104 years, officials said.

"From my terrace, I no longer see a river, but a lake that has flooded parts of the town's centre," said Muris Razanica, whose hillside hotel has a stunning view of the Bosnian town of Gorazde.

"This area is famous for rafting but if this goes on, big ships will be able to dock in Gorazde, it's really unbelievable," he added as the federal army turned out to help evacuate people.

Tourist agencies in Bosnia handed over their rafts so Civil Protection workers could rescue people from apartments in Foca, where water levels have reached the first floor. Those who dared remain on upper floors were given food and water.

On the other side of the river, authorities in Serbia and Montenegro evacuated hundreds of people as the Drina flooded farms and roads. Schools were closed, many people had no electricity or heat, and water supplies were contaminated along the river in all three countries.

In Poland, the cold claimed 10 more lives, bringing the overall deaths there to 18, police spokesman Mariusz Sokolowski said, as police scourged the streets for homeless or drunk people in hopes of saving their lives.

Authorities in Berlin kept subway stations, soup kitchens and heated buses open all night to provide shelter for the city's homeless, and thousands in Germany had to sleep overnight on trains - either stuck by the wild weather or due to a lack of hotel rooms.

Two deaths were reported in Germany - a 73-year-old in Lower Saxony who was struck by a train while trying to clear snow and an 18-year-old in Baden-Wuerttemberg, who lost control of his vehicle on an icy road and crashed into a truck.

Air travel was upended. Gatwick Airport, one of Britain's busiest, was closed for a second straight day, canceling another 600 flights as conditions continued to deteriorate. Edinburgh Airport and London's City Airport were also closed until at least late evening, according to Eurocontrol, the air traffic agency.

Significant delays also hit airports at London Heathrow, Paris Charles de Gaulle, Amsterdam's Schiphol, Berlin's Tegel and Duesseldorf. In Geneva, the airport reopened only after removing 2,000 tractor-trailers full of snow from the runways.

Travellers hoping to fare better by road or rail were equally stymied as snow continued to fall across the UK and most of Germany, leaving thousands of motorists stranded overnight in their cars.

Some 3,000 stranded rail passengers struggled to sleep overnight in their trains, German railway operator Deutsche Bahn said. Another 200 passengers in Frankfurt spent the night in parked trains after local hotels fill to overflowing.

Nothing was moving along many of Germany's high-speed train links, such as between Nuremberg and Leipzig in the south and east, or between Hamburg and the Danish capital Copenhagen in the north.

Southeastern Denmark was also badly hit, and heavy snowfalls and icy winds severely hampered road and rail traffic. The Danish army used tracked armored personnel carriers to help ambulances and other emergency vehicles cut their way through mounds of snow.

Unusually cold and snowy weather also left city centres in southern Lyon, and towns on the French Atlantic coast snowed-in. One in five TGV fast trains linking Paris with the southeastern Provence region were also canceled yesterday.

Heavy snowfall in Poland created treacherous situations on many of the country's already abysmal roads. Thousands of Polish homes were left without electricity or heat as temperatures hovered around minus 10 Celsius.

Traffic was also chaotic in Germany, with hundreds of minor accidents. Police in Berlin alone counted 121 accidents yesterday morning.

A deep freeze gripped Sweden, with the lowest temperatures overnight yesterday measuring minus 29.6 Celsius in Lillhardal in the centre of the country.

Thousands of people and livestock were also evacuated from northwestern Albania after severe floods. A state of emergency was declared in the city of Shkodra, which remains isolated from the rest of the country by days of heavy rain.

Authorities said more than 10,000 hectares were under water along Albania's swollen Drini and Buna rivers.

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Manikarnika: The Queen of Jhansi

Director: Kangana Ranaut, Krish Jagarlamudi

Producer: Zee Studios, Kamal Jain

Cast: Kangana Ranaut, Ankita Lokhande, Danny Denzongpa, Atul Kulkarni

Rating: 2.5/5

SCHEDULE

Saturday, April 20: 11am to 7pm - Abu Dhabi World Jiu-Jitsu Festival and Para jiu-jitsu.

Sunday, April 21: 11am to 6pm - Abu Dhabi World Youth (female) Jiu-Jitsu Championship.

Monday, April 22: 11am to 6pm - Abu Dhabi World Youth (male) Jiu-Jitsu Championship.

Tuesday, April 23: 11am-6pm Abu Dhabi World Masters Jiu-Jitsu Championship.

Wednesday, April 24: 11am-6pm Abu Dhabi World Professional Jiu-Jitsu Championship.

Thursday, April 25: 11am-5pm Abu Dhabi World Professional Jiu-Jitsu Championship.

Friday, April 26: 3pm to 6pm Finals of the Abu Dhabi World Professional Jiu-Jitsu Championship.

Saturday, April 27: 4pm and 8pm awards ceremony.

The smuggler

Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple. 
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.

Khouli conviction

Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.

For sale

A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.

- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico

- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000

- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950

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.”