More than 100 Houthis killed in Hodeidah skirmishes

High-ranking rebel officers were among the dead as pro-government forces advance

Ali Mahmood

November 04, 2018

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  • Arabic


More than 100 Iran-backed Houthi fighters were killed this week by Yemen's pro-government forces as they hold a tight defensive line around the city of Hodeidah, an army spokesman told The National.

Colonel Mamoon Al Mahjami said on Sunday that 150 rebel fighters died in skirmishes since renewed fighting broke out on Friday, including high-ranking Houthi officers.

Clashes have been ongoing on the outskirts of the vital port city, with the Arab-backed Al Amalikah brigades hold recently retaken territory and prepare to advance towards Al Masna street near Al Garasi road - a key link between Kilo 16 and the city's eastern entrance.

Dozens of Houthi fighters were also injured and some 100 arrested, according to the colonel.

Meanwhile, said Col Al Mahjami, "the offensive in the western axis has stopped at the University of Hodeidah where the forces of Al Amalikah took full control over the headquarters of the medical college on Saturday".

Civilians inside Hodeidah told The National on Sunday that the city had witnessed the most intense clashes since the start of the operation five months ago.

Houthi vehicles were spotted transporting casualties towards the north of the city, while dozens of fighters fled the battleground, a resident told The National.

"The Houthis are living very critical times in the city of Hodeidah, their force has been shrinking under intensified air strikes launched by the Arab Coalition jets," said a resident who asked to remain anonymous for security reasons.

"They use the public hospitals as fortifications and weapons depots to avoid being hit by aircraft."

In addition, said the resident, internet has been down in the city since last night, making it harder for residents to communicate.

Pro-government forces have been preparing for months to launch a major push to liberate the city and many saw the recent increase in ground forces in the area as the beginning of the recapture.

However, the announcement of a renewed diplomatic effort to take place in the coming weeks in Sweden has again placed the focus on a diplomatic solution.


Already, the US the UK and other European states have put their weight behind talks to avert a major humanitarian catastrophe as well as beginning to discuss Houthi's handing over heavy weapons and establishing a demilitarized buffer zone on the Saudi border as the beginning of a negotiation for a wider settlement.

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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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