BEIRUT // A roadside bomb struck a jeep carrying members of the Shiite Hizbollah group near Lebanon's border with Syria yesterday, wounding at least two people, a police official said.
The official said the vehicle appeared to have been part of a Hizbollah convoy heading to Syria and that the casualties were transported in ambulances affiliated with the group to a hospital in Beirut.
The bombing came hours after mortar shells from Syria hit the Israeli-controlled Golan Heights, highlighting fears that the Syrian civil war could further destabilise the region.
Lebanon, long troubled by Syria's civil war and its potential to overwhelm its smaller neighbour, has been on edge since a powerful car bomb wounded 53 people last Tuesday in a Hizbollah stronghold in Beirut's southern suburbs.
To many in Lebanon, that blast confirmed fears that the Iranian-backed group, a staunch ally of the Syrian president, Bashar Al Assad, would face retaliation for fighting alongside Syrian regime troops.
Yesterday's blast struck the jeep as it was driving on the main road in Majdal Anjar leading from Lebanon to the Syrian capital, and about 1.5 kilometres from the Masnaa border crossing. The road is frequently used by Hizbollah security officials and other Lebanese officials headed to the Syrian capital.
The state-run National News Agency identified the wounded men as Hussein Ali Bdeir and Fadi Abdul Karim. Local media reports said the two may have been bodyguards for a Hizbollah official travelling in the convoy.
Lebanese security officials said the bomb appeared to have been detonated remotely.
Hizbollah's Al Manar TV did not report the explosion and a Hizbollah official said the group had no information on the blast.
The group's fighters played a key role in a recent victory by Mr Al Assad's forces to retake control of the strategic Syrian town of Qusayr, near the Lebanese border, where rebels held sway for more than a year. Syrian activists said Hizbollah fighters were aiding a regime offensive in the besieged city of Homs.
The Israeli military said yesterday that a number of what appeared to be mortar shells struck the Golan Heights yesterday, but caused no damage. It did not believe the fire was aimed at Israel.
Israel has been watching the Syrian conflict, fearing the violence could spill across its borders. Mortar shells have exploded sporadically inside Israeli territory since the conflict began, causing damage but no injuries. Israel believes most were errant shots, but has accused Syria of aiming at Israeli targets on several occasions. Israeli troops have returned fire briefly.
Israel is believed to have carried out four air strikes in Syria in recent months against weapons thought to be destined for Hizbollah militants in Lebanon.
Inside Syria, pro-government gunmen killed seven members of a local Syrian reconciliation group near Homs, as troops shot dead nine people including a child at a checkpoint in a suburb of the capital, activists said.
It was not clear whether the adults killed were fighters or civilians. An amateur video showed seven dead men, some of them with beards, and a boy with a bloodied face. The dead appeared to have suffered bullet wounds, some to the head.
"These are Bashar's crimes during Ramadan," a man could be heard saying in the video.
The killings coincide with an offensive by Mr Al Assad's troops in Damascus and its surrounding suburbs, as well as in the strategic province surrounding Homs.
The Britain-based Syrian Observatory for Human Rights said the seven men, including two retired army officers, were Sunnis working to convince gunmen to drop their weapons and return to normal life. They were killed on Monday in the village of Hajar Abyad, where residents are known to be regime supporters, it said.
Assad regime troops have captured several nearby rebel-held areas in recent weeks. They have also made headway against fighter brigades on the edge of Damascus and eastern suburbs.
The uprising against Mr Al Assad's rule began in March 2011 and has deteriorated into an insurgency with growing sectarian overtones. Rebels have been helped by foreign fighters, while government forces have been bolstered by Hizbollah guerrillas and Shiite fighters from Iraq.
The Observatory also reported fighting in the town of Qahtaniyeh on the edge of the Golan Heights.
Rami Abdul-Rahman, who heads the Observatory, said regime forces were attacking rebels in the town.
* With additional reporting by Agence France-Presse
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Ballon d’Or shortlists
Men
Sadio Mane (Senegal/Liverpool), Sergio Aguero (Aregentina/Manchester City), Frenkie de Jong (Netherlans/Barcelona), Hugo Lloris (France/Tottenham), Dusan Tadic (Serbia/Ajax), Kylian Mbappe (France/PSG), Trent Alexander-Arnold (England/Liverpool), Donny van de Beek (Netherlands/Ajax), Pierre-Emerick Aubameyang (Gabon/Arsenal), Marc-Andre ter Stegen (Germany/Barcelona), Cristiano Ronaldo (Portugal/Juventus), Alisson (Brazil/Liverpool), Matthijs de Ligt (Netherlands/Juventus), Karim Benzema (France/Real Madrid), Georginio Wijnaldum (Netherlands/Liverpool), Virgil van Dijk (Netherlands/Liverpool), Bernardo Silva (Portugal/Manchester City), Son Heung-min (South Korea/Tottenham), Robert Lewandowski (Poland/Bayern Munich), Roberto Firmino (Brazil/Liverpool), Lionel Messi (Argentina/Barcelona), Riyad Mahrez (Algeria/Manchester City), Kevin De Bruyne (Belgium/Manchester City), Kalidou Koulibaly (Senegal/Napoli), Antoine Griezmann (France/Barcelona), Mohamed Salah (Egypt/Liverpool), Eden Hazard (BEL/Real Madrid), Marquinhos (Brazil/Paris-SG), Raheem Sterling (Eengland/Manchester City), Joao Félix(Portugal/Atletico Madrid)
Women
Sam Kerr (Austria/Chelsea), Ellen White (England/Manchester City), Nilla Fischer (Sweden/Linkopings), Amandine Henry (France/Lyon), Lucy Bronze(England/Lyon), Alex Morgan (USA/Orlando Pride), Vivianne Miedema (Netherlands/Arsenal), Dzsenifer Marozsan (Germany/Lyon), Pernille Harder (Denmark/Wolfsburg), Sarah Bouhaddi (France/Lyon), Megan Rapinoe (USA/Reign FC), Lieke Martens (Netherlands/Barcelona), Sari van Veenendal (Netherlands/Atletico Madrid), Wendie Renard (France/Lyon), Rose Lavelle(USA/Washington Spirit), Marta (Brazil/Orlando Pride), Ada Hegerberg (Norway/Lyon), Kosovare Asllani (Sweden/CD Tacon), Sofia Jakobsson (Sweden/CD Tacon), Tobin Heath (USA/Portland Thorns)
Last five meetings
2013: South Korea 0-2 Brazil
2002: South Korea 2-3 Brazil
1999: South Korea 1-0 Brazil
1997: South Korea 1-2 Brazil
1995: South Korea 0-1 Brazil
Note: All friendlies
PROFILE BOX:
Company/date started: 2015
Founder/CEO: Rami Salman, Rishav Jalan, Ayush Chordia
Based: Dubai, UAE
Sector: Technology, Sales, Voice, Artificial Intelligence
Size: (employees/revenue) 10/ 100,000 downloads
Stage: 1 ($800,000)
Investors: Eight first-round investors including, Beco Capital, 500 Startups, Dubai Silicon Oasis, Hala Fadel, Odin Financial Services, Dubai Angel Investors, Womena, Arzan VC
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
Emergency
Director: Kangana Ranaut
Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry
Rating: 2/5
Defending champions
World Series: South Africa
Women’s World Series: Australia
Gulf Men’s League: Dubai Exiles
Gulf Men’s Social: Mediclinic Barrelhouse Warriors
Gulf Vets: Jebel Ali Dragons Veterans
Gulf Women: Dubai Sports City Eagles
Gulf Under 19: British School Al Khubairat
Gulf Under 19 Girls: Dubai Exiles
UAE National Schools: Al Safa School
International Invitational: Speranza 22
International Vets: Joining Jack
How to avoid crypto fraud
- Use unique usernames and passwords while enabling multi-factor authentication.
- Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
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- Only invest in crypto projects that you fully understand.
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Key fixtures from January 5-7
Watford v Bristol City
Liverpool v Everton
Brighton v Crystal Palace
Bournemouth v AFC Fylde or Wigan
Coventry v Stoke City
Nottingham Forest v Arsenal
Manchester United v Derby
Forest Green or Exeter v West Brom
Tottenham v AFC Wimbledon
Fleetwood or Hereford v Leicester City
Manchester City v Burnley
Shrewsbury v West Ham United
Wolves v Swansea City
Newcastle United v Luton Town
Fulham v Southampton
Norwich City v Chelsea
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Killing of Qassem Suleimani
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Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
Bournemouth 0
Manchester United 2
Smalling (28'), Lukaku (70')
Paltan
Producer: JP Films, Zee Studios
Director: JP Dutta
Cast: Jackie Shroff, Sonu Sood, Arjun Rampal, Siddhanth Kapoor, Luv Sinha and Harshvardhan Rane
Rating: 2/5