A soldier loyal to Saudi-led coalition forces stands guard near ships docked in the southern Yemeni port of Aden on October 29, 2018. AFP
A soldier loyal to Saudi-led coalition forces stands guard near ships docked in the southern Yemeni port of Aden on October 29, 2018. AFP
A soldier loyal to Saudi-led coalition forces stands guard near ships docked in the southern Yemeni port of Aden on October 29, 2018. AFP
A soldier loyal to Saudi-led coalition forces stands guard near ships docked in the southern Yemeni port of Aden on October 29, 2018. AFP

Arab coalition to send 10,000 troops to liberate Hodeidah from Houthis


Mina Aldroubi
  • English
  • Arabic

The Arab coalition in Yemen on Tuesday deployed 10,000 additional troops to the rebel held port of Hodeidah, ahead of a new offensive, Yemeni government officials told The National.

"Preparations and military endeavours are underway to put an end to people's misery that are caused by the Houthi rebels," Hamza Ali Kamali, member of the Yemeni government delegation to Geneva, told The National.

Military operations have been renewed during the last two days in the vital port city aiming to push back the rebels, but they still hold parts of Hodeidah and the capital Sanaa.

"We have received military equipment from the legitimate forces and the Arab coalition to start a new offensive in the Hodeidah front and the Yemen west coast to regain the port," Mr Al Kamali said.

Millions of civilians are on the brink of famine as aid agencies are struggling to find a way to ensure relief reaches those in need especially in Houthi held areas, despite assistance from the UAE and Saudi Arabia.

The port is the entry point for more than 70 per cent of imports to the country, which is on the brink of famine.

Houthi militias are accused of blocking vital aid from entering vulnerable cities as the country experiences one the worst humanitarian crisis in the world, Mohammed Askar, Yemen's Human Rights Minister, told The National.

Civilians are struggling to survive as the economy collapses and cripples state institutions.

After the failure of UN-backed talks in September, the coalition announced it was relaunching an assault on the port.

Clashes between Houthi rebels and government forces erupted last week, prompting the Arab coalition to caution residents to avoid Houthi gatherings and to stay indoors.

More than 40 rebels were killed and wounded in clashes with the Yemeni army in east of Hodeidah, the Saudi Press Agency reported on Sunday.

Meanwhile, the newly-appointed Prime Minister Maeen Abdulmalik Saeed has vowed to improve the country's economic crisis.

Mr Saeed arrived for the first time since he assumed office to Aden on Tuesday and said that the government is facing “great difficulties as a result of the country’s deteriorating economic and humanitarian situation”.

"Economic and public reforms, reconstruction, infrastructure repair and normalisation of conditions in liberated areas are at the top of my government’s agenda," Mr Saeed told reporters.

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Read more:

Saudi ambassador to Yemen oversees fuel aid delivery to Aden

Houthi rebels seize fuel and food cargo entering port city of Hodeidah

Yemeni government launches cholera immunisation drive

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UAE currency: the story behind the money in your pockets
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On the menu

First course

▶ Emirati sea bass tartare Yuzu and labneh mayo, avocado, green herbs, fermented tomato water  

▶ The Tale of the Oyster Oyster tartare, Bahraini gum berry pickle

Second course

▶ Local mackerel Sourdough crouton, baharat oil, red radish, zaatar mayo

▶ One Flew Over the Cuckoo’s Nest Quail, smoked freekeh, cinnamon cocoa

Third course

▶ Bahraini bouillabaisse Venus clams, local prawns, fishfarm seabream, farro

▶ Lamb 2 ways Braised lamb, crispy lamb chop, bulgur, physalis

Dessert

▶ Lumi Black lemon ice cream, pistachio, pomegranate

▶ Black chocolate bar Dark chocolate, dates, caramel, camel milk ice cream
 

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2) Visit an RTA centre to change registration only after receiving payment

3) Be aware of people asking to test drive the car alone

4) Try not to close the sale at night

5) Don't be rushed into a sale 

6) Call 901 if you see any suspicious behaviour

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Tests 46; Runs 2,103; Best 166; Average 32.85; 100s 6; 50s 8; Wickets 42; Best 4-47

How has net migration to UK changed?

The figure was broadly flat immediately before the Covid-19 pandemic, standing at 216,000 in the year to June 2018 and 224,000 in the year to June 2019.

It then dropped to an estimated 111,000 in the year to June 2020 when restrictions introduced during the pandemic limited travel and movement.

The total rose to 254,000 in the year to June 2021, followed by steep jumps to 634,000 in the year to June 2022 and 906,000 in the year to June 2023.

The latest available figure of 728,000 for the 12 months to June 2024 suggests levels are starting to decrease.

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The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

The specs
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UK’s AI plan
  • AI ambassadors such as MIT economist Simon Johnson, Monzo cofounder Tom Blomfield and Google DeepMind’s Raia Hadsell
  • £10bn AI growth zone in South Wales to create 5,000 jobs
  • £100m of government support for startups building AI hardware products
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Quarter-finals

Saturday (all times UAE)

England v Australia, 11.15am 
New Zealand v Ireland, 2.15pm

Sunday

Wales v France, 11.15am
Japan v South Africa, 2.15pm

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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UAE currency: the story behind the money in your pockets