UN observers at their residence in the Dama Rose Hotel in Damascus. The 300 unarmed monitors are unlikely to have their mission extended after next month.
UN observers at their residence in the Dama Rose Hotel in Damascus. The 300 unarmed monitors are unlikely to have their mission extended after next month.
UN observers at their residence in the Dama Rose Hotel in Damascus. The 300 unarmed monitors are unlikely to have their mission extended after next month.
UN observers at their residence in the Dama Rose Hotel in Damascus. The 300 unarmed monitors are unlikely to have their mission extended after next month.

Red Cross planning emergency evacuation of Homs


  • English
  • Arabic

GENEVA // The International Committee of the Red Cross said yesterday that it was preparing to mount an emergency operation to aid hundreds of civilians and evacuate the wounded, sick and elderly trapped by fighting in the Syrian city of Homs.

Syria's government and rebel groups agreed on Tuesday to pause the fighting, which had raged for more than 10 days, to allow rescuers to enter the affected neighbourhoods, the group said.

"Hundreds of civilians are stuck in the old city of Homs, unable to leave and find refuge in safer areas, because of the ongoing armed confrontations," said Beatrice Megevand-Roggo, the group's head of operations for the region.

"We also want to evacuate civilians who have been unable to flee the conflict area, and bring in much-needed aid and medical supplies to the local Syrian Arab Red Crescent branch."

A spokesman for the Red Cross in Geneva said aid workers were making final preparations that include ensuring it is in contact with all sides.

"We hope to get in as soon as possible," Hicham Hassan said.

Last week the Syrian Observatory for Human Rights said more than 1,000 families were stuck in the region around Homs and spoke of dozens of people wounded in urgent need of medical care.

"Every day there are many wounded from the shelling, and we can't do anything for them because we have nothing to treat them with," the activist Abu Bilal said yesterday. "The shelling is practically constant, and we can't get anybody out of the besieged districts. "Electricity has been cut off for four days" in the Old City of Homs and "there's no more flour to bake bread. There really is nothing to eat."

Elsewhere, rebels stormed an army barracks in the northwestern province of Latakia overnight and killed at least 20 soldiers, said the Syrian Observatory for Human Rights. The rebels had captured some soldiers, including a colonel, and seized machine guns and rocket-propelled grenades, it said.

In assaults against opposition strongholds across the country, soldiers and militias loyal to Bashar Al Assad, the Syrian president, killed 19 people yesterday, according to the human-rights group.

Six fatalities were on the outskirts of the capital Damascus, which the government has shelled in an attempt to claw back ground lost to the rebels who had set up their own checkpoints.

Activists in Hama city said the army shelled Arbaeen neighbourhood and troops were preparing to the storm the area.

Hillary Rodham Clinton, the US secretary of state, is planning to travel to Russia next week for a meeting of Asia-Pacific foreign ministers in St Petersburg. Mrs Clinton will also hold private talks with Sergey Lavrov, the Russian foreign minister, which will likely focus on the crisis in Syria and Iran's nuclear programme.

* With additional reporting by Agence France-Presse and Reuters

The specs: 2019 GMC Yukon Denali

Price, base: Dh306,500
Engine: 6.2-litre V8
Transmission: 10-speed automatic
Power: 420hp @ 5,600rpm
Torque: 621Nm @ 4,100rpm​​​​​​​
​​​​​​​Fuel economy, combined: 12.9L / 100km

The specs: 2018 GMC Terrain

Price, base / as tested: Dh94,600 / Dh159,700

Engine: 2.0-litre turbocharged four-cylinder

Power: 252hp @ 5,500rpm

Torque: 353Nm @ 2,500rpm

Transmission: Nine-speed automatic

Fuel consumption, combined: 7.4L  / 100km

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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

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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THREE
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While you're here
The specs

AT4 Ultimate, as tested

Engine: 6.2-litre V8

Power: 420hp

Torque: 623Nm

Transmission: 10-speed automatic

Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)

On sale: Now

Match info

Australia 580
Pakistan 240 and 335

Result: Australia win by an innings and five runs

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)

In numbers: China in Dubai

The number of Chinese people living in Dubai: An estimated 200,000

Number of Chinese people in International City: Almost 50,000

Daily visitors to Dragon Mart in 2018/19: 120,000

Daily visitors to Dragon Mart in 2010: 20,000

Percentage increase in visitors in eight years: 500 per cent

Dust and sand storms compared

Sand storm

  • Particle size: Larger, heavier sand grains
  • Visibility: Often dramatic with thick "walls" of sand
  • Duration: Short-lived, typically localised
  • Travel distance: Limited 
  • Source: Open desert areas with strong winds

Dust storm

  • Particle size: Much finer, lightweight particles
  • Visibility: Hazy skies but less intense
  • Duration: Can linger for days
  • Travel distance: Long-range, up to thousands of kilometres
  • Source: Can be carried from distant regions
Who was Alfred Nobel?

The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.

  • In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
  • Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
  • Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
How to wear a kandura

Dos

  • Wear the right fabric for the right season and occasion 
  • Always ask for the dress code if you don’t know
  • Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work 
  • Wear 100 per cent cotton under the kandura as most fabrics are polyester

Don’ts 

  • Wear hamdania for work, always wear a ghutra and agal 
  • Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying