The UN committee tasked with overseeing the ceasefire in the Yemeni port city of Hodeidah has begun deploying monitors from both sides to the city, a military source in the joint pro-government forces confirmed to The National.
“The UN Redeployment Coordination Committee (RCC) monitoring the withdrawal of the warring forces in Hodeidah city in Yemen started on Saturday deploying monitors from both parties in the outskirts of the city to strengthen the ceasefire around the city and stop any violations,” the source told The National.
The deployment came after a meeting brought together the two warring sides on the border of their lines of control in the city, and the newly appointed observer of the UN mission monitoring the Hodeidah ceasefire, Indian Lieutenant General Abhijit Guha.
“The meeting succeeded in setting up the first monitoring point in the July 7 neighborhood in Al-Khamseen street eastern the city of Hodeidah,” Colonel Wathah Al-Dubaish, spokesperson of the joint forces in Hodeidah, told The National.
He confirmed that an officer from the joint forces and another from the Houthi rebels were deployed to form the first monitoring point in the city.
“The two officers will work collaboratively with the UN monitors who are deployed on the UN ship in the national waters to strengthen the ceasefire, through preventing infiltrations and stopping any attempts for trenching, and to report any reinforcements push from both parties,” the colonel said.
The monitors are due to be deployed at four points on the eastern and southern outskirts of the city for the first phase of its implementation. If this takes place successfully, then the second stage will be implemented, he said. That will entail monitors being deployed to the southern Hodeidah districts of Al Duraihimi, Haiys and Al Tuhaiyta.
“After deploying monitors from the two warring parties all over the clashes zones in and around the city and in the southern districts, the UN monitors will then take part in the monitoring process, they will join the local monitors on the ground to lead the new phase of the ceasefire,” Col Al-Dubaish added.
The spokesperson said that the head of the government team in the RCC told Mr Guha that this is the last chance for the Houthi rebels to engage seriously in the withdrawal process, reiterating that the joint forces will no longer allow the Houthis to obstruct the implementation of the ceasefire deal struck in Sweden between both sides in December 2018.
Separately, the World Food Programme (WFP) in Yemen succeeded earlier last week in transferring aid supplies to more than 19 families have been detained in a rebel-held pocket in Al-Duraihimi city, located in eastern Hodeidah.
Six trucks carrying lifesaving assistance including medicine arrived in the city, where the families have been detained and used as human shields by the Houthi rebels since August 2018, when the joint forces liberated 90 per cent of the city. They could not launch the last push to take over the whole city because the Houthi rebels fortified in the centre refused to surrender and took the families remaining in the city as hostages.
Ali Ridha Kirshi, the deputy WFP representative in Yemen who led the relief convoy that arrived to the detained families in Al-Duraihimi, said last Wednesday in video footage obtained by The National that the convoy delivered lifesaving assistance, including medicine for women and children.
“We met some sick people there and delivered the assistance which we couldn’t do earlier because of serious challenges,” he said.
The WFP representative praised the efforts exerted by the joint forces, who worked hard to pave the way for the relief convoy to reach the detained civilians.
Tips for job-seekers
- Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
- Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.
David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East
Scores:
Day 4
England 290 & 346
Sri Lanka 336 & 226-7 (target 301)
Sri Lanka require another 75 runs with three wickets remaining
North Pole stats
Distance covered: 160km
Temperature: -40°C
Weight of equipment: 45kg
Altitude (metres above sea level): 0
Terrain: Ice rock
South Pole stats
Distance covered: 130km
Temperature: -50°C
Weight of equipment: 50kg
Altitude (metres above sea level): 3,300
Terrain: Flat ice
The%20Emperor%20and%20the%20Elephant
%3Cp%3E%3Cstrong%3EAuthor%3A%20%3C%2Fstrong%3ESam%20Ottewill-Soulsby%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPublisher%3A%20%3C%2Fstrong%3EPrinceton%20University%20Press%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPages%3A%20%3C%2Fstrong%3E392%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EAvailable%3A%20%3C%2Fstrong%3EJuly%2011%3C%2Fp%3E%0A
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.”
Ahmed Raza
UAE cricket captain
Age: 31
Born: Sharjah
Role: Left-arm spinner
One-day internationals: 31 matches, 35 wickets, average 31.4, economy rate 3.95
T20 internationals: 41 matches, 29 wickets, average 30.3, economy rate 6.28
MATCH INFO
Manchester City 1 (Gundogan 56')
Shakhtar Donetsk 1 (Solomon 69')
As it stands in Pool A
1. Japan - Played 3, Won 3, Points 14
2. Ireland - Played 3, Won 2, Lost 1, Points 11
3. Scotland - Played 2, Won 1, Lost 1, Points 5
Remaining fixtures
Scotland v Russia – Wednesday, 11.15am
Ireland v Samoa – Saturday, 2.45pm
Japan v Scotland – Sunday, 2.45pm
What is a robo-adviser?
Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.
These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.
Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.
Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
Fighting with My Family
Director: Stephen Merchant
Stars: Dwayne Johnson, Nick Frost, Lena Headey, Florence Pugh, Thomas Whilley, Tori Ellen Ross, Jack Lowden, Olivia Bernstone, Elroy Powell
Four stars
Gulf Under 19s final
Dubai College A 50-12 Dubai College B
MATCH INFO
Maratha Arabians 107-8 (10 ovs)
Lyth 21, Lynn 20, McClenaghan 20 no
Qalandars 60-4 (10 ovs)
Malan 32 no, McClenaghan 2-9
Maratha Arabians win by 47 runs
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
More coverage from the Future Forum
MATCH INFO
France 3
Umtiti (8'), Griezmann (29' pen), Dembele (63')
Italy 1
Bonucci (36')
MATCH INFO
Karnataka Tuskers 110-5 (10 ovs)
Tharanga 48, Shafiq 34, Rampaul 2-16
Delhi Bulls 91-8 (10 ovs)
Mathews 31, Rimmington 3-28
Karnataka Tuskers win by 19 runs
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