ALEPPO //Abu Suleiman's rebel unit has started using unorthodox tactics to help take this strategic city from forces loyal to Syrian President Bashar Al Assad.
Targeted by snipers and indiscriminate bombardments by government warplanes flying overhead, he and his fellow Free Syrian Army (FSA) fighters have learnt to avoid moving through the streets of Aleppo's Salaheddine neighbourhood.
They prefer punching holes through apartment walls, creating networks of indoor passageways to funnel fighters from flat to flat and closer to enemy lines.
This has made for some awkward encounters.
"The other day my commander and I broke through a wall and when we looked through, we saw three soldiers from the Syrian Army on the other side," Abu Suleiman said yesterday, as the sound of helicopter gunships firing echoed in the background.
"He yelled: 'Soldiers, soldiers, soldiers!' But they got away before he could remove the safety on his rifle," said Abu Suleiman, 30, a resident of Aleppo, who did want to use his real name.
Such is the state of urban warfare in Aleppo, which rebel forces largely led by fighters from surrounding village, initiated last month the most coordinated anti-government military campaign since the uprising against Al Assad's regime began 17 months ago.
Human rights activists say the fighting in the war has killed at least 20,000 people.
Rebel commanders say they have captured two-thirds of Aleppo - considered crucial for its massive industrial output, which had been humming along until last month's assault.
A full rebel takeover would be a significant setback for Mr Al Assad's government. That may explain the intensified, and seemingly random, aerial bombardments by helicopters gunships and Russian-made warplanes that has proved deadly for rebel fighters and civilians caught up in the clashes. Government aircraft increasingly target apartment buildings where they know rebel fighters are hiding.
"This shows their true cowardice," said Captain Ahmed Tlass, 28, who led a unit of about 30 men for several days in Salaheddine. "Now they're attacking apartments to completely obliterate them - to the ground."
Still, rebel commanders see this as a sign of their enemy's weakness.
Abdel Qader Saleh, a field commander for the Tawhid Brigade, an umbrella grouping of fighters from Aleppo's countryside, believes momentum is certainly in favour of his 8,000 fighters - even if places such as Salaheddine appear mired in stalemate.
They took three more neighbourhoods on Friday, he said, adding that the bulk of the Aleppo province's countryside had already fallen to the rebels in recent weeks.
"The countryside is ours and, after taking that we came to Aleppo," he said. "And now we have 60 per cent of the city."
Still, he acknowledged setbacks. A lack of access to weapons and ammunition has plagued his forces, he said, in part because of disunity among other rebel fighting groups that operate independently of his Tawhid Brigade. Foreign powers, he added, had also failed to provide the necessary weapons - especially anti-aircraft weapons - for his fighters.
It was a lack of ammunition that led rebels to temporarily withdrew from Salaheddine, which they hope to capture to gain control of the main road to Damascus, the capital, and thereby sever government forces from their supply lines.
The prolonged fighting has also taken its toll on the civilians.
"Really, all we want is peace," said Salem Kamoosh, 24, a resident of Bab Al Nasser, a frontline neighbourhood in the historic Old City where rebel fighters routinely exchange machine-gun and rocket-propelled grenade fire with regime forces.
He was scouring the area for food, water and petrol, all of which are in short supply.
But it is a fight that he acknowledged must go on.
For Abu Suleiman, rebel fighters will stay on fighting, even if the enemy unleashes more random and deadly munitions. It is a risk all rebels are prepared to take, he said.
"We can't see who we're fighting or who we're shooting at, but we're here to stay until we win," he said.
Yesterday in Damascus, gunmen simultaneously detonated two roadside bombs and clashed with police, causing panic but no injuries or damage.
On the capital's edge, Syrian forces pounded a suburb with mortars and artillery shells, a day after rebels operating in the town abducted a pro-government TV crew, activists said. It was the latest attack on pro-regime media and the latest abduction blamed on rebels in the civil war.
One of the blasts went off in central Damascus' Marjeh district, when an explosive device planted under a tree was detonated by remote control as a vehicle carrying soldiers passed by, an official at the site of the blast told the Associated Press. The explosion, which caused no casualties, went off about 100 metres from the Four Seasons, one of the luxury hotels in Damascus.
hnaylor@thenational.ae
Match info
Deccan Gladiators 87-8
Asif Khan 25, Dwayne Bravo 2-16
Maratha Arabians 89-2
Chadwick Walton 51 not out
Arabians won the final by eight wickets
Turkish Ladies
Various artists, Sony Music Turkey
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
Sly%20Cooper%20and%20the%20Thievius%20Raccoonus
%3Cp%3E%3Cstrong%3EDeveloper%3A%3C%2Fstrong%3E%20Sucker%20Punch%20Productions%3Cbr%3E%3Cstrong%3EPublisher%3A%3C%2Fstrong%3E%20Sony%20Computer%20Entertainment%3Cbr%3E%3Cstrong%3EConsole%3A%3C%2Fstrong%3E%20PlayStation%202%20to%205%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%205%2F5%3C%2Fp%3E%0A
Abu Dhabi Sustainability Week
WHAT%20MACRO%20FACTORS%20ARE%20IMPACTING%20META%20TECH%20MARKETS%3F
%3Cp%3E%E2%80%A2%20Looming%20global%20slowdown%20and%20recession%20in%20key%20economies%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Russia-Ukraine%20war%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Interest%20rate%20hikes%20and%20the%20rising%20cost%20of%20debt%20servicing%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Oil%20price%20volatility%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Persisting%20inflationary%20pressures%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Exchange%20rate%20fluctuations%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Shortage%20of%20labour%2Fskills%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20A%20resurgence%20of%20Covid%3F%3C%2Fp%3E%0A
The biog:
Favourite book: The Leader Who Had No Title by Robin Sharma
Pet Peeve: Racism
Proudest moment: Graduating from Sorbonne
What puts her off: Dishonesty in all its forms
Happiest period in her life: The beginning of her 30s
Favourite movie: "I have two. The Pursuit of Happiness and Homeless to Harvard"
Role model: Everyone. A child can be my role model
Slogan: The queen of peace, love and positive energy
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
UNSC Elections 2022-23
Seats open:
- Two for Africa Group
- One for Asia-Pacific Group (traditionally Arab state or Tunisia)
- One for Latin America and Caribbean Group
- One for Eastern Europe Group
Countries so far running:
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.”
Match info
What: Fifa Club World Cup play-off
Who: Al Ain v Team Wellington
Where: Hazza bin Zayed Stadium, Al Ain
When: Wednesday, kick off 7.30pm
Iraq negotiating over Iran sanctions impact
- US sanctions on Iran’s energy industry and exports took effect on Monday, November 5.
- Washington issued formal waivers to eight buyers of Iranian oil, allowing them to continue limited imports. Iraq did not receive a waiver.
- Iraq’s government is cooperating with the US to contain Iranian influence in the country, and increased Iraqi oil production is helping to make up for Iranian crude that sanctions are blocking from markets, US officials say.
- Iraq, the second-biggest producer in the Organization of Petroleum Exporting Countries, pumped last month at a record 4.78 million barrels a day, former Oil Minister Jabbar Al-Luaibi said on Oct. 20. Iraq exported 3.83 million barrels a day last month, according to tanker tracking and data from port agents.
- Iraq has been working to restore production at its northern Kirkuk oil field. Kirkuk could add 200,000 barrels a day of oil to Iraq’s total output, Hook said.
- The country stopped trucking Kirkuk oil to Iran about three weeks ago, in line with U.S. sanctions, according to four people with knowledge of the matter who asked not to be identified because they aren’t allowed to speak to media.
- Oil exports from Iran, OPEC’s third-largest supplier, have slumped since President Donald Trump announced in May that he’d reimpose sanctions. Iran shipped about 1.76 million barrels a day in October out of 3.42 million in total production, data compiled by Bloomberg show.
- Benchmark Brent crude fell 47 cents to $72.70 a barrel in London trading at 7:26 a.m. local time. U.S. West Texas Intermediate was 25 cents lower at $62.85 a barrel in New York. WTI held near the lowest level in seven months as concerns of a tightening market eased after the U.S. granted its waivers to buyers of Iranian crude.
FFP EXPLAINED
What is Financial Fair Play?
Introduced in 2011 by Uefa, European football’s governing body, it demands that clubs live within their means. Chiefly, spend within their income and not make substantial losses.
What the rules dictate?
The second phase of its implementation limits losses to €30 million (Dh136m) over three seasons. Extra expenditure is permitted for investment in sustainable areas (youth academies, stadium development, etc). Money provided by owners is not viewed as income. Revenue from “related parties” to those owners is assessed by Uefa's “financial control body” to be sure it is a fair value, or in line with market prices.
What are the penalties?
There are a number of punishments, including fines, a loss of prize money or having to reduce squad size for European competition – as happened to PSG in 2014. There is even the threat of a competition ban, which could in theory lead to PSG’s suspension from the Uefa Champions League.