epa06881271 Russian President Vladimir Putin (R) speaks with Israeli Prime Minister Benjamin Netanyahu (L) during their meeting at the Kremlin in Moscow, Russia, 11 July 2018. The leaders meet to discuss bilateral cooperation and international issues, including Palestinian-Israeli settlement and the situation in Syria.  EPA/YURI KADOBNOV/POOL
Russian President Vladimir Putin, right, speaks with Israeli Prime Minister Benjamin Netanyahu during their meeting at the Kremlin on July 11, 2018. EPA

Russia demands more explanation from Israel on Syria plane downing



Israel must provide Moscow with more information about the downing of a Russian military aircraft near the Syrian coast earlier this week, Russia's Foreign Ministry said in a statement on Thursday, the Interfax news agency reported.

Fifteen Russian crew were killed when the IL-20 surveillance plane crashed near Latakia in northern Syria on Monday. Russia has said Syria shot the plane down shortly after Israeli jets hit the area, and accused Israel of creating the dangerous conditions by failing to give sufficient advance notice.

Russia's Defence Ministry initially blamed the plane's loss on Israel, saying its fighter jets pushed the Russian plane into the line of fire, but Russian President Vladimir Putin sought to defuse tensions, pointing at “a chain of tragic accidental circumstances”.

Israeli Prime Minister Benjamin Netanyahu has offered to share data with Russia on what was happening in the sky over Syria that day and dispatched his air force chief to Moscow. The official is due to arrive in Moscow on Thursday.

The Russia-bound delegation, led by Major General Amikam Norkin, will "present the situation report... regarding all aspects" of the incident, the Israeli army said in a statement on Wednesday.

It will also provide information on "Iranian attempts to transfer strategic weapons to the Hezbollah terror organisation and to establish an Iranian military presence in Syria", the statement said.

The Israeli military said its fighter jets were targeting a Syrian military facility involved in providing weapons for Iran's proxy Hezbollah militia and insisted it warned Russia of the coming raid in accordance with deconfliction agreements. It said the Syrian army fired the missiles that hit the Russian plane when the Israeli jets had already returned to Israeli airspace.

Russian Foreign Ministry spokeswoman Maria Zakharova on Thursday accused Israeli pilots of “unprofessionalism” and said that Russia still needs to hear more “explanations from Israel”.

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Read more:

Hezbollah leader says group will stay in Syria until further notice

Hezbollah is flaunting its support for Yemen’s Houthis

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Israel said on Thursday it would not halt strikes on Syria but would do more to "deconflict" them with Russian forces.

Israel has struck Syria scores of times during its seven-year civil war to prevent what it says are transfers of weapons to Hezbollah fighters and other Iranian allies. Russia has largely overlooked the sorties, which the Israelis say pose no direct threat to Moscow's ally, President Bashar Al Assad.

Speaking to Army Radio, Defence Minister Avigdor Lieberman made clear that Israel would not halt attacks in Syria.

“We will do whatever is necessary to safeguard the security of Israel's citizens...and we will not hold these discussions over the airwaves,” he said.

But when pressed during the interview, Mr Lieberman avoided asserting Israeli “freedom of action” over Syria, a term he has used in the past.

Naftali Bennett, another far-right member of Mr Netanyahu's security cabinet, said “deconfliction mechanisms” would be improved, referring to a Russian-Israeli hotline designed to avoid inadvertent clashes with forces Moscow sent to Syria as part of a military intervention mounted in 2015.

"We will of course strengthen these mechanisms. We will do everything so as not to harm anyone we do not intend to, God forbid," Mr Bennett told Army Radio in a separate interview.

Israel has admitted to striking Syria to prevent what it says are deliveries of advanced weaponry to Lebanon's Hezbollah, an armed movement backed by Iran and which fights alongside Syrian troops.

On Wednesday, Hezbollah's leader Hassan Nasrallah said the Shiite movement would stay in Syria "until further notice".

"We will remain there even after the Idlib accord," Nasrallah said, referring to a Russia-Turkey deal to prevent a Syrian regime offensive on the country's last rebel-held stronghold.

The Woman King

Director: Gina Prince-Bythewood

Stars: Viola Davis, Thuso Mbedu, Sheila Atim, Lashana Lynch, John Boyega 

Rating: 3/5

COMPANY PROFILE

Name: Lamsa

Founder: Badr Ward

Launched: 2014

Employees: 60

Based: Abu Dhabi

Sector: EdTech

Funding to date: $15 million

Dengue fever symptoms
  • High fever
  • Intense pain behind your eyes
  • Severe headache
  • Muscle and joint pains
  • Nausea
  • Vomiting
  • Swollen glands
  • Rash

If symptoms occur, they usually last for two-seven days

Specs: 2024 McLaren Artura Spider

Engine: 3.0-litre twin-turbo V6 and electric motor
Max power: 700hp at 7,500rpm
Max torque: 720Nm at 2,250rpm
Transmission: Eight-speed dual-clutch auto
0-100km/h: 3.0sec
Top speed: 330kph
Price: From Dh1.14 million ($311,000)
On sale: Now

If you go

The flights
There are various ways of getting to the southern Serengeti in Tanzania from the UAE. The exact route and airstrip depends on your overall trip itinerary and which camp you’re staying at. 
Flydubai flies direct from Dubai to Kilimanjaro International Airport from Dh1,350 return, including taxes; this can be followed by a short flight from Kilimanjaro to the Serengeti with Coastal Aviation from about US$700 (Dh2,500) return, including taxes. Kenya Airways, Emirates and Etihad offer flights via Nairobi or Dar es Salaam.   

Company Profile

Name: Direct Debit System
Started: Sept 2017
Based: UAE with a subsidiary in the UK
Industry: FinTech
Funding: Undisclosed
Investors: Elaine Jones
Number of employees: 8

The specs: 2024 Mercedes E200

Engine: 2.0-litre four-cyl turbo + mild hybrid
Power: 204hp at 5,800rpm +23hp hybrid boost
Torque: 320Nm at 1,800rpm +205Nm hybrid boost
Transmission: 9-speed auto
Fuel consumption: 7.3L/100km
On sale: November/December
Price: From Dh205,000 (estimate)

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.”

CONFIRMED LINE-UP

Elena Rybakina (Kazakhstan)
Ons Jabeur (Tunisia)
Maria Sakkari (Greece)
Barbora Krejčíková (Czech Republic)
Beatriz Haddad Maia (Brazil)
Jeļena Ostapenko (Latvia)
Liudmila Samsonova
Daria Kasatkina
Veronika Kudermetova
Caroline Garcia (France)
Magda Linette (Poland)
Sorana Cîrstea (Romania)
Anastasia Potapova
Anhelina Kalinina (Ukraine)
Jasmine Paolini (Italy)
Emma Navarro (USA)
Lesia Tsurenko (Ukraine)
Emma Raducanu (Great Britain) – wildcard

COMPANY PROFILE

Name: Xpanceo

Started: 2018

Founders: Roman Axelrod, Valentyn Volkov

Based: Dubai, UAE

Industry: Smart contact lenses, augmented/virtual reality

Funding: $40 million

Investor: Opportunity Venture (Asia)

Company Profile

Company name: Cargoz
Date started: January 2022
Founders: Premlal Pullisserry and Lijo Antony
Based: Dubai
Number of staff: 30
Investment stage: Seed

Dubai Rugby Sevens

November 30, December 1-2
International Vets
Christina Noble Children’s Foundation fixtures

Thursday, November 30:

10.20am, Pitch 3, v 100 World Legends Project
1.20pm, Pitch 4, v Malta Marauders

Friday, December 1:

9am, Pitch 4, v SBA Pirates

Fixtures and results:

Wed, Aug 29:

  • Malaysia bt Hong Kong by 3 wickets
  • Oman bt Nepal by 7 wickets
  • UAE bt Singapore by 215 runs

Thu, Aug 30: 

  • UAE bt Nepal by 78 runs
  • Hong Kong bt Singapore by 5 wickets
  • Oman bt Malaysia by 2 wickets

Sat, Sep 1: UAE v Hong Kong; Oman v Singapore; Malaysia v Nepal

Sun, Sep 2: Hong Kong v Oman; Malaysia v UAE; Nepal v Singapore

Tue, Sep 4: Malaysia v Singapore; UAE v Oman; Nepal v Hong Kong

Thu, Sep 6: Final

COMPANY PROFILE

Name: Haltia.ai
Started: 2023
Co-founders: Arto Bendiken and Talal Thabet
Based: Dubai, UAE
Industry: AI
Number of employees: 41
Funding: About $1.7 million
Investors: Self, family and friends