Turkey dismisses Egyptian proposal for Libya ceasefire
Turkey on Wednesday dismissed Egypt's proposal for a ceasefire in Libya, Hurriyet newspaper reported.
Turkey supports Fayez Al Serraj's internationally recognised Government of National Accord (GNA), whose forces have in recent weeks repelled a 14-month assault on Tripoli by Haftar's Libyan National Army (LNA).
Egypt called for a ceasefire starting on Monday, as part of an initiative which also proposed an elected leadership council for Libya. Russia and the UAE welcomed the plan, while Germany said UN-backed talks were key to the peace process.
However, Turkish Foreign Minister Mevlut Cavusoglu dismissed the proposal.
"The ceasefire effort in Cairo was stillborn. If a ceasefire is to be signed, it should be done at a platform that brings everyone together," Mr Cavusoglu told Hurriyet.
Mr Cavusoglu said Turkey will continue talks with all parties for a solution in Libya, but that such a solution would require the agreement of both sides.
Joy as searchers find Aussie teen lost on Mount Disappointment
An autistic teen lost for two days in Australian bushland was reunited with his family Wednesday, after a hundreds-strong volunteer search than involved using Vegemite and the Thomas the Tank Engine theme tune as lures.
Will Callaghan, a teen with non-verbal autism, became separated from his family on the summit of Mount Disappointment near Melbourne on Monday, but was found by a volunteer after two nights exposed to freezing temperatures.
"I am really overwhelmed, he's as well as can be expected" said visibly relieved mother Penny Callaghan after the 14-year-old was discovered. "Thank you everyone! I'm so grateful!"
Residents living nearby joined the manhunt and had been asked to barbeque bacon and onions and to leave out his favourite foods in hope his favourite smells would draw the boy out of the bush.
Police inspector Christine Lalor had called for Vegemite and feta to be left out as officers set up three loudspeakers in the area to play songs from Thomas the Tank Engine.
CrossFit CEO resigns over insensitive George Floyd tweet
The CEO of CrossFit is stepping down after his tweet about George Floyd sparked a social media backlash and led to affiliated gyms and Reebok cutting ties with the exercise brand.
Greg Glassman said in a statement posted on CrossFit Inc.'s website late Tuesday that he decided to retire. Mr Glassman had apologised earlier for tweets that sparked online outrage by connecting Floyd, a black man who died at the hands of Minneapolis police, and the coronavirus pandemic. He said he had made a mistake and should have been more sensitive, but denied being racist.
"On Saturday I created a rift in the CrossFit community and unintentionally hurt many of its members," he said. "I cannot let my behavior stand in the way of HQ's or affiliates' missions."
Mr Glassman had angered many with his glib response to a tweet by the Institute for Health Metrics and Evaluation, a health research group, which said, "Racism is a public health issue."
"It's FLOYD-19," he replied on Saturday, and in a second tweet criticized the group's "failed" quarantine model and accused it of attempting to "model a solution to racism."
Sri Lanka sets parliamentary election on August 5
Sri Lanka's Election Commission set August 5 as the new date for parliamentary elections after postponing it twice over the Covid-19 pandemic.
Commission member Ratnajeevan Hoole said the date will give the body sufficient time to prepare under health guidelines.
President Gotabaya Rajapaksa dissolved Parliament in March. The first two election dates — April 25 and June 20 — had been postponed as the Election Commission sought assurances from health authorities that it is safe to hold the vote.
Sri Lanka is currently in a constitutional uncertainty because it is now past a three-month period allowed by law to operate without a sitting Parliament.
Last week the Supreme Court rejected petitions by opposition parties and civil activists seeking an annulment of Mr Rajapaksa's order dissolving Parliament.
Mr Rajapaksa was elected last November and used his constitutional powers to dissolve Parliament six months ahead of schedule hoping to secure for his party a majority of lawmakers. Although he is allowed to use his discretionary power to reconvene the dissolved Parliament in an emergency, he refused to do so when Covid-19 made elections uncertain.
Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
Poacher
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MEDIEVIL%20(1998)
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The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
The Pope's itinerary
Sunday, February 3, 2019 - Rome to Abu Dhabi
1pm: departure by plane from Rome / Fiumicino to Abu Dhabi
10pm: arrival at Abu Dhabi Presidential Airport
Monday, February 4
12pm: welcome ceremony at the main entrance of the Presidential Palace
12.20pm: visit Abu Dhabi Crown Prince at Presidential Palace
5pm: private meeting with Muslim Council of Elders at Sheikh Zayed Grand Mosque
6.10pm: Inter-religious in the Founder's Memorial
Tuesday, February 5 - Abu Dhabi to Rome
9.15am: private visit to undisclosed cathedral
10.30am: public mass at Zayed Sports City – with a homily by Pope Francis
12.40pm: farewell at Abu Dhabi Presidential Airport
1pm: departure by plane to Rome
5pm: arrival at the Rome / Ciampino International Airport
Killing of Qassem Suleimani
THE BIO
BIO:
Born in RAK on December 9, 1983
Lives in Abu Dhabi with her family
She graduated from Emirates University in 2007 with a BA in architectural engineering
Her motto in life is her grandmother’s saying “That who created you will not have you get lost”
Her ambition is to spread UAE’s culture of love and acceptance through serving coffee, the country’s traditional coffee in particular.
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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Day 1 results:
Open Men (bonus points in brackets)
New Zealand 125 (1) beat UAE 111 (3)
India 111 (4) beat Singapore 75 (0)
South Africa 66 (2) beat Sri Lanka 57 (2)
Australia 126 (4) beat Malaysia -16 (0)
Open Women
New Zealand 64 (2) beat South Africa 57 (2)
England 69 (3) beat UAE 63 (1)
Australia 124 (4) beat UAE 23 (0)
New Zealand 74 (2) beat England 55 (2)
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
The biog
Favourite films: Casablanca and Lawrence of Arabia
Favourite books: Start with Why by Simon Sinek and Good to be Great by Jim Collins
Favourite dish: Grilled fish
Inspiration: Sheikh Zayed's visionary leadership taught me to embrace new challenges.
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David Haye record
Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4
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Indoor Cricket World Cup Dubai 2017
Venue Insportz, Dubai; Admission Free
Fixtures - Open Men 2pm: India v New Zealand, Malaysia v UAE, Singapore v South Africa, Sri Lanka v England; 8pm: Australia v Singapore, India v Sri Lanka, England v Malaysia, New Zealand v South Africa
Fixtures - Open Women Noon: New Zealand v England, UAE v Australia; 6pm: England v South Africa, New Zealand v Australia