BEIRUT // At least 30 people died yesterday as Syrian government forces attacked Deraa and Homs and there were renewed clashes in Damascus.
The Syrian Observatory for Human Rights said 17 people were killed in intense shelling in Deraa early yesterday, and that the nationwide death toll was 33.
The Local Coordination Committees, a network of opposition activists, reported that many of the dead were from Deraa Balad and that government forces also raided Abtaa in Deraa.
At least nine people were killed in Homs after troops stormed the city amid the sounds of explosions, it said.
The fighting in Damascus was the most intense since the uprising against the regime of Bashar Al Assad began 15 months ago. Witnesses said government tanks opened fire in the streets, with shells slamming into residential buildings.
Maath Al Shami, an opposition activist in the capital, said Friday was "a turning point in the conflict. There were clashes in Damascus that lasted hours. The battle is in Damascus now."
As the fighting continued, leaders of the Syrian National Council met in Istanbul to pick a new leader after the resignation of Burhan Ghalioun last month to avert a split in the opposition bloc.
The favourite for the post is Abdel Basset Sayda, a Kurd and member of the SNC's executive office who lives in exile in Sweden.
On the diplomatic front, Russia said yesterday it would support the departure of Mr Al Assad if Syrians consented to it, without imposing regime change from outside.
"If the Syrians agree on this with each other, we will be only glad to support such an outcome," said Sergei Lavrov, the foreign minister. Moscow did not want to "impose the conditions of dialogue".
Mr Lavrov said Russia has growing concerns about the conflict in Syria, but his government's opposition to foreign intervention was "not because we are protecting Assad and his regime.
"We know that Syria is a complicated multi-confessional state, and because we know that some of those calling for military intervention want to ruin this and turn Syria into a battleground for domination in the Islamic world."
Russia also stepped up calls for an international summit that would bring together countries with influence on both sides of the conflict.
While western governments are pushing for tougher new sanctions against the Al Assad regime, the Russians maintain that foreign military intervention or more sanctions would only inflame the crisis.
"Our logic is that it is not necessary now to apply additional pressure, to introduce sanctions or use the threat of force," the deputy foreign minister Gennady said.
"Introducing restrictive or forceful measures … will only aggravate the already difficult atmosphere."
More horrific details emerged yesterday of the aftermath of an apparent massacre of about 80 men, women and children in Qubeir. United Nations observers visited the small village near Hama on Friday after reports of the latest mass killing, which is believed to have taken place last Wednesday.
Sausan Ghosheh, a UN spokeswoman, said the observers could smell the stench of burnt corpses and saw body parts scattered around the deserted village. The scene held evidence of a "horrific crime", she said, but local accounts of the killings were "conflicting" and they needed to cross-check the names of the missing and dead.
The Syrian government has blamed rebel groups for the killings, while opposition groups held militia loyal to the regime, known as shabeeha, responsible for the massacre.
Syria's state news agency, Sana, yesterday reported the burials of 57 civilians and members of the security forces. It said the dead had been targeted by "armed terrorist groups".
Meanwhile Syrian rebels holding 11 Lebanese Shiite pilgrims hostage have said that the men would be released when Syria is a "civil state".
The group also left the door open for negotiations and said that the hostages were in good health. Al Jazeera broadcast a video in which the men, who appeared relaxed, said they were being treated well.
"The guests will be released by the Syrian civil state when their case is reviewed by a new democratic parliament," the rebels said. "But given the current conditions it may be possible to negotiate their release with neighbouring countries."
The 11 pilgrims have been held since May 22, when they were abducted by gunmen in the province of Aleppo as they travelled by bus back to Lebanon through Syria after a pilgrimage to Iran.
zconstantine@thenational.ae
* Additional reporting by Reuters and the Associated Press
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Emergency
Director: Kangana Ranaut
Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry
Rating: 2/5
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.”
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
Famous left-handers
- Marie Curie
- Jimi Hendrix
- Leonardo Di Vinci
- David Bowie
- Paul McCartney
- Albert Einstein
- Jack the Ripper
- Barack Obama
- Helen Keller
- Joan of Arc
Other workplace saving schemes
- The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
- Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
- National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
- In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
- Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
Paatal Lok season two
Directors: Avinash Arun, Prosit Roy
Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong
Rating: 4.5/5
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now
THE%20SPECS
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Power: 579hp
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Price: From Dh825,900
On sale: Now
Company profile
Name: Back to Games and Boardgame Space
Started: Back to Games (2015); Boardgame Space (Mark Azzam became co-founder in 2017)
Founder: Back to Games (Mr Azzam); Boardgame Space (Mr Azzam and Feras Al Bastaki)
Based: Dubai and Abu Dhabi
Industry: Back to Games (retail); Boardgame Space (wholesale and distribution)
Funding: Back to Games: self-funded by Mr Azzam with Dh1.3 million; Mr Azzam invested Dh250,000 in Boardgame Space
Growth: Back to Games: from 300 products in 2015 to 7,000 in 2019; Boardgame Space: from 34 games in 2017 to 3,500 in 2019
Quick%20facts
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The specs
Engine: 2.0-litre 4-cylinder turbo
Power: 240hp at 5,500rpm
Torque: 390Nm at 3,000rpm
Transmission: eight-speed auto
Price: from Dh122,745
On sale: now
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heading
Iran has sent five planeloads of food to Qatar, which is suffering shortages amid a regional blockade.
A number of nations, including Iran's major rival Saudi Arabia, last week cut ties with Qatar, accusing it of funding terrorism, charges it denies.
The land border with Saudi Arabia, through which 40% of Qatar's food comes, has been closed.
Meanwhile, mediators Kuwait said that Qatar was ready to listen to the "qualms" of its neighbours.
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
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COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded