FILE PHOTO: Members of al Qaeda's Nusra Front gesture as they cheer in the northwestern city of Ariha, after a coalition of insurgent groups seized the area in Idlib province May 29, 2015. REUTERS/Khalil Ashawi/File Photo
 Members of al Qaeda's Nusra Front gesture as they cheer in the northwestern city of Ariha. Reuters

Rebel infighting in northern Syria intensifies as clashes spill into Idlib



Clashes on Wednesday intensified between the two largest rebel alliances in northern Syria, killing more than 80, including civilians and fighters.

Battles between the Al Qaeda-linked Hay'at Tahrir Al Sham alliance and the Turkey-backed National Liberation Front in western Aleppo have spilled into adjacent provinces of Idlib and Hama, according to activists.
The skirmishes mark one of the most severe cases of rebel infighting in Syria's north since Hay'at Tahrir Al Sham launched a wide-scale offensive to seize most of Idlib province from rival rebel forces in 2017. They also effectively nullify an agreement reached between the Al Qaeda linked fighters and the rebels in October, during which both vowed to cease attacks. 
Rebel infighting has also doused tensions on frontlines near the Kurdish-held town of Manbij as rebel forces in the area redeploy further west to support the National Liberation Front in its fight against Al Qaeda-linked fighters.

_______________

Read more:

Inside Manbij: Dispatch from the battle for Syria's future

Donald Trump considering delay to US withdrawal from Syria

_______________

Fighting in western Aleppo since Tuesday has killed at least 41 Hay'at Tahrir Al Sham militants and six civilians, the UK-based Syrian Observatory for Human Rights said on Thursday. The war monitor says 34 National Liberation Front fighters, mainly from the powerful Noureddine Al Zenki rebel group, have also died in clashes.
The casualty count is expected to climb if the battles continue. 
Zenki spokesman Mohammad Adib says Hay'at Tahrir Al Sham are now expanding their attack and activating several frontlines. 
The group has seized control of the strategic town of Darat Izza – one of the largest in western Aleppo province  – following fierce battles with the Zenki group, according to the Observatory and Halab Today TV  –  an activist-run media outlet. 
The militant group also made advances in southern and south-eastern Idlib on Thursday after launching an offensive at dawn, the Observatory and activists said.
Fighting is taking place in proximity to Turkish observation posts manned by Turkish troops, according to the war monitor.
The National Liberation Front released a statement on Wednesday demanding the mobilisation of all of its affiliates to counter attacks by Hay'at Tahrir Al Sham and reclaim territory seized by the group.
The Zenki spokesman said the increased mobilisation of rebel fighters is altering the power balance on the ground, aiding rebels in launching a counterattack to reclaim the territory they lost to Hay'at Tahrir Al Sham in recent days.
"The reality on the ground is different now after the general mobilisation was announced," Mr Adib said. "The NLF (National Liberation Front) is now shifting from a defensive strategy to absorb the HTS (Hay'at Tahrir Al Sham) attack towards an offensive strategy to counter militant gains."

The Observatory on Thursday said rebels regained control of territory they had lost to Hay'at Tahrir Al Sham earlier in the day. 
Meanwhile late on Wednesday demonstrations broke out in rebel-held territory in Aleppo's countryside. Residents took to the streets to protest against what they described as Al Qaeda's aggression against rebels.

The battles between the rival rebel alliances come at a time when Ankara says it is planning to launch an operation against Kurdish groups in the city of Manbij, east of Aleppo. 
Hundreds of Ankara-backed rebels who were positioned near the Kurdish-held city have now redeployed to areas in western Aleppo and southern Idlib where battles with Hay'at Tahrir Al Sham are gaining pace.
The Observatory on Thursday said that a sense of calm was prevailing over frontlines near Manbij following the withdrawal of rebel fighters.

The Melbourne Mercer Global Pension Index

The Melbourne Mercer Global Pension Index

Mazen Abukhater, principal and actuary at global consultancy Mercer, Middle East, says the company’s Melbourne Mercer Global Pension Index - which benchmarks 34 pension schemes across the globe to assess their adequacy, sustainability and integrity - included Saudi Arabia for the first time this year to offer a glimpse into the region.

The index highlighted fundamental issues for all 34 countries, such as a rapid ageing population and a low growth / low interest environment putting pressure on expected returns. It also highlighted the increasing popularity around the world of defined contribution schemes.

“Average life expectancy has been increasing by about three years every 10 years. Someone born in 1947 is expected to live until 85 whereas someone born in 2007 is expected to live to 103,” Mr Abukhater told the Mena Pensions Conference.

“Are our systems equipped to handle these kind of life expectancies in the future? If so many people retire at 60, they are going to be in retirement for 43 years – so we need to adapt our retirement age to our changing life expectancy.”

Saudi Arabia came in the middle of Mercer’s ranking with a score of 58.9. The report said the country's index could be raised by improving the minimum level of support for the poorest aged individuals and increasing the labour force participation rate at older ages as life expectancies rise.

Mr Abukhater said the challenges of an ageing population, increased life expectancy and some individuals relying solely on their government for financial support in their retirement years will put the system under strain.

“To relieve that pressure, governments need to consider whether it is time to switch to a defined contribution scheme so that individuals can supplement their own future with the help of government support,” he said.

Key Points
  • Protests against President Omar Al Bashir enter their sixth day
  • Reports of President Bashir's resignation and arrests of senior government officials
Herc's Adventures

Developer: Big Ape Productions
Publisher: LucasArts
Console: PlayStation 1 & 5, Sega Saturn
Rating: 4/5

The specs

Engine: Dual permanently excited synchronous motors
Power: 516hp or 400Kw
Torque: 858Nm
Transmission: Single speed auto
Range: 485km
Price: From Dh699,000

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.”

Final scores

18 under: Tyrrell Hatton (ENG)

- 14: Jason Scrivener (AUS)

-13: Rory McIlroy (NIR)

-12: Rafa Cabrera Bello (ESP)

-11: David Lipsky (USA), Marc Warren (SCO)

-10: Tommy Fleetwood (ENG), Chris Paisley (ENG), Matt Wallace (ENG), Fabrizio Zanotti (PAR)

TWISTERS

Director:+Lee+Isaac+Chung

Starring:+Glen+Powell,+Daisy+Edgar-Jones,+Anthony+Ramos

Rating:+2.5/5

COMPANY PROFILE

Company name: Klipit

Started: 2022

Founders: Venkat Reddy, Mohammed Al Bulooki, Bilal Merchant, Asif Ahmed, Ovais Merchant

Based: Dubai, UAE

Industry: Digital receipts, finance, blockchain

Funding: $4 million

Investors: Privately/self-funded

Kill

Director: Nikhil Nagesh Bhat

Starring: Lakshya, Tanya Maniktala, Ashish Vidyarthi, Harsh Chhaya, Raghav Juyal

Rating: 4.5/5

Inside Out 2

Director: Kelsey Mann

Starring: Amy Poehler, Maya Hawke, Ayo Edebiri

Rating: 4.5/5

The Details

Kabir Singh

Produced by: Cinestaan Studios, T-Series

Directed by: Sandeep Reddy Vanga

Starring: Shahid Kapoor, Kiara Advani, Suresh Oberoi, Soham Majumdar, Arjun Pahwa

Rating: 2.5/5 

ROUTE TO TITLE

Round 1: Beat Leolia Jeanjean 6-1, 6-2
Round 2: Beat Naomi Osaka 7-6, 1-6, 7-5
Round 3: Beat Marie Bouzkova 6-4, 6-2
Round 4: Beat Anastasia Potapova 6-0, 6-0
Quarter-final: Beat Marketa Vondrousova 6-0, 6-2
Semi-final: Beat Coco Gauff 6-2, 6-4
Final: Beat Jasmine Paolini 6-2, 6-2

'Brazen'

Director:+Monika Mitchell

Starring:+Alyssa Milano, Sam Page, Colleen Wheeler

Rating: 3/5