Assad shown unharmed after Syria rebels report assassination bid


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AMMAN // Syrian rebels said to they targeted President Bashar Al Assad's motorcade heading to a Damascus mosque to mark Eid Al Fitr, but state television showed him unharmed and the government denied he had been attacked.

The Tahrir Al Sham rebel brigade, a unit of the Free Syrian Army, said it fired several artillery shells towards Assad's convoy in the heart of the capital and that at least some hit their target.

If confirmed, the attack would be one of the most direct against Assad in two years of conflict which have pitched mainly Sunni Muslim rebels against the Alawite president.

Rebels have targeted Assad's residences in Damascus and a bombing in the capital last year killed four of his inner circle, but there have been no reports of the Syrian president himself coming under fire.

Video footage distributed by the Tahrir Al Sham rebels showed smoke rising from what it said was the Malki district, where Assad and his close aides have homes. Other activists also reported rocket fire into the area.

Syria's government denied the reports. "The news is wholly untrue," Information Minister Omran Zoabi said.

Firas Al Bitar, head of the brigade, said his fighters had carried out reconnaissance of the route of Assad's motorcade and fired 120mm artillery towards the president's convoy this morning.

"The attack rattled the regime, even if Assad was not hit," he told Reuters from an undisclosed location in the capital. "There were two motorcades, one containing Assad and a decoy. We targeted the correct one."

Mr Bitar's brigade operates mainly in the Ghouta region on the eastern outskirts of the capital. Another official in Tahrir Al Sham said Assad's forces fired rockets and artillery "like rain" on the region in response to the reported attack.

Following the statement, Syrian state television showed footage of Assad praying alongside ministers and other top officials. It said the footage was from Thursday's Eid prayers at the Anas bin Malek Mosque in Malki.

Assad appeared unharmed and smiled at the worshippers as he entered the mosque.

Islam Alloush of the Liwa al-Islam, another rebel brigade, told Reuters earlier on Thursday that rebels fired rockets which struck Assad's motorcade.

"Assad was not hit but the information we have based from sources within the regime is that there were casualties within his entourage," Allooush said.

Other activists also reported rockets were fired into the Malki area, which was sealed off by security forces.

Abandon
Sangeeta Bandyopadhyay
Translated by Arunava Sinha
Tilted Axis Press 

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Born: Mukalla, Yemen, 1979

Education: UAE University, Al Ain

Family: Married with two daughters: Asayel, 7, and Sara, 6

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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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What is graphene?

Graphene is extracted from graphite and is made up of pure carbon.

It is 200 times more resistant than steel and five times lighter than aluminum.

It conducts electricity better than any other material at room temperature.

It is thought that graphene could boost the useful life of batteries by 10 per cent.

Graphene can also detect cancer cells in the early stages of the disease.

The material was first discovered when Andre Geim and Konstantin Novoselov were 'playing' with graphite at the University of Manchester in 2004.

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The scheme is designed for foreign investors committed to making a significant contribution to the economy. Requires a minimum investment of €250,000 which can rise to €2 million.

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Terence Blanchard: very political - a lot of jazz musicians are making protest music right now.

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