Politicians criticise Yemen's government



SANA'A // Several members of parliament criticised the government yesterday, holding it responsible for the growing deterioration of the security situation in the country, after a battle between southern movement supporters and government troops left 22 killed and 47 wounded in the southern province of Abyan last week. "The ministry of interior is responsible for the security situation deterioration. I do feel that some parts of the country are no longer under the control of the government," said Sultan al Barakani, head of the ruling People's General Congress caucus in the parliament, referring to Sa'ada in the north.

Rashad al Alimi, deputy prime minister for security and defence affairs, said the government is facing serious security challenges represented by the terrorism activities. "There are three major security challenges we are facing at the moment. The first one, al Qa'eda, still represents a major security challenge. The government is raising awareness about the hazards of extremism as well as addressing educating the people influenced by the ideology of al Qa'eda," he said.

"The second challenge is the rebellion in some districts of the province of Sa'ada; it is serious and is expanding to other districts ? This is a result of the loose security caused by the uprising." Nine foreigners were kidnapped in Sa'ada in June. The bodies of three were found three days later while the rest are still missing. Mr al Alimi said the third challenge is dealing with the sabotage and motorway robbery activities in the south as he urged the parliament to endorse anti-terrorism and firearms laws.

Yemen troops have been battling al Houthi rebels intermittently in the northern province of Sa'ada despite a truce agreed to by President Ali Abdullah Saleh last July. Several soldiers were killed in clashes with the rebels last week. "The rebels continue to violate the peace deal in Shejar, Suhar and al Safra districts. The rebels set some ambushes for the security and military men which killed a number of them. We are respecting the president's decision. The rebels are making violations and we are trying to calm down the situation. But, they should know there is a limit for our patience," said Mutahar al Masri, interior minister.

The situation in the south is no less tense than the north. Salem Haidarah, an MP from Abyan, said two citizens were still missing from Thursday's fighting. "Had we been in another country, the government should have resigned instead of coming to parliament with false information. The situation in Abyan is so serious, " said Mr Haidarah, who belongs to the ruling party bloc. Some opposition MPs supported Mr Haidarah notion that government should resign.

Aidarous al Nakeeb, head of the caucus of the opposition socialist party in parliament, said security solutions will not solve the southern problems. "The government is fascinated by the security solutions to the problems in the south while it is of political background. Security solutions might repress angry protesters and kill some of them but will not sort out the problem. It is a political problem and a consequence of the 1994 war which resulted in looting the land and marginalisation of the south," Mr al Nakeeb said. "Yemen is now at a crossroads and needs national reconciliation and dialogue involving all relevant people and the partners of the unity.

"But, stubborn positions from the government will lead to a similar stand from the other side which will serve the people calling for separation. Both projects are fruitless. We have to look for a new project to build a state of law and order and respect of equal partnership and citizenship." malqadhi@thenational.ae

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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

Salah in numbers

€39 million: Liverpool agreed a fee, including add-ons, in the region of 39m (nearly Dh176m) to sign Salah from Roma last year. The exchange rate at the time meant that cost the Reds £34.3m - a bargain given his performances since.

13: The 25-year-old player was not a complete stranger to the Premier League when he arrived at Liverpool this summer. However, during his previous stint at Chelsea, he made just 13 Premier League appearances, seven of which were off the bench, and scored only twice.

57: It was in the 57th minute of his Liverpool bow when Salah opened his account for the Reds in the 3-3 draw with Watford back in August. The Egyptian prodded the ball over the line from close range after latching onto Roberto Firmino's attempted lob.

7: Salah's best scoring streak of the season occurred between an FA Cup tie against West Brom on January 27 and a Premier League win over Newcastle on March 3. He scored for seven games running in all competitions and struck twice against Tottenham.

3: This season Salah became the first player in Premier League history to win the player of the month award three times during a term. He was voted as the division's best player in November, February and March.

40: Salah joined Roger Hunt and Ian Rush as the only players in Liverpool's history to have scored 40 times in a single season when he headed home against Bournemouth at Anfield earlier this month.

30: The goal against Bournemouth ensured the Egyptian achieved another milestone in becoming the first African player to score 30 times across one Premier League campaign.

8: As well as his fine form in England, Salah has also scored eight times in the tournament phase of this season's Champions League. Only Real Madrid's Cristiano Ronaldo, with 15 to his credit, has found the net more often in the group stages and knockout rounds of Europe's premier club competition.

WORLD RECORD FEES FOR GOALKEEPERS

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2) Alisson, Roma to Liverpool (£67m)

3) Ederson, Benfica to Manchester City (£35m)

4) Gianluigi Buffon, Parma to Juventus (£33m)

5) Angelo Peruzzi, Inter Milan to Lazio (£15.7m

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.”

Our legal columnist

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Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

Wallabies

Updated team: 15-Israel Folau, 14-Dane Haylett-Petty, 13-Reece Hodge, 12-Matt Toomua, 11-Marika Koroibete, 10-Kurtley Beale, 9-Will Genia, 8-Pete Samu, 7-Michael Hooper (captain), 6-Lukhan Tui, 5-Adam Coleman, 4-Rory Arnold, 3-Allan Alaalatoa, 2-Tatafu Polota-Nau, 1-Scott Sio.

Replacements: 16-Folau Faingaa, 17-Tom Robertson, 18-Taniela Tupou, 19-Izack Rodda, 20-Ned Hanigan, 21-Joe Powell, 22-Bernard Foley, 23-Jack Maddocks.

MATCH INFO

Liverpool 2 (Van Dijk 18', 24')

Brighton 1 (Dunk 79')

Red card: Alisson (Liverpool)

New Zealand 21 British & Irish Lions 24

New Zealand
Penalties: Barrett (7)

British & Irish Lions
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Conversions: Farrell 
 

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Wednesday, 2nd 50-over match
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Europe’s rearming plan
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UAE beat Iran by 10 wickets

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