BEIRUT // Syrian troops shelled a southern village and clashed with army defectors holed up inside in violence that killed a 15-year-old boy and five government soldiers, activists said yesterday.
The clashes in Hirak were some of the worst lately in Deraa province, birthplace of the uprising to oust President Bashar Al Assad. Explosions shook the village as shells slammed into residential areas suspected of sheltering defectors. Even mosques were targeted, activists said.
"The clashes are very intense and have been going on since the morning," said Rami Abdul-Rahman, director of the British-based Syrian Observatory for Human Rights, which relies on a network of activists on the ground.
Also yesterday Russia's foreign ministry dealt a blow to western hopes that Moscow might drop its support for Mr Al Assad, saying firmly that it sees no reason to change its stance.
"We are deeply convinced that we are right," Sergei Ryabkov, the deputy foreign minister, told reporters. "That is why we call on our partners not to adopt a hard-line stance, but to seek compromise, stimulate negotiations and a political process." In Damascus, a special Chinese envoy to Syria was expected to visit and press the regime for a cease-fire.
China, like Russia, has remained a key Syrian ally throughout the nearly year-old uprising against Mr Al Assad. As international condemnation of Mr Al Assad's deadly crackdown on dissent has grown, China and Russia have protected Syria from condemnation by the UN Security Council.
Both countries fear such a resolution could lead to military intervention against Mr Al Assad, as it did last year against Muammar Qaddafi of Libya.
Beijing remains firmly opposed to any foreign intervention in Syria.
Li Huaqing, a former Chinese ambassador to Syria, will meet with government officials during his two-day visit. He is not expected to meet figures from the opposition seeking to overthrow Mr Al Assad.
The operation in Deraa began just days after Syrian forces captured a key rebel-held neighbourhood in central Homs province, another opposition stronghold. Government troops intensely shelled Homs for four weeks before they captured the Baba Amr neighborhood in the city of Homs, wresting it from rebels who had held it for months. Activists said hundreds were killed in the month-long offensive.
The assault on Homs was accompanied by a steady rise in international demands for Mr Al Assad to stop the bloodshed and give up power immediately. On Monday, US Sentor John McCain called for airstrikes against Syria, saying the United States has a moral and strategic obligation to force out Mr Al Assad and his loyalists. The US administration has said Mr Al Assad must got but has said it will not intervene militarily.
A video posted online by activists yesterday shows what it said was the inside of the Abu Bakr Al Saddiq mosque in Hirak. The video showed rubble littering the mosque's entryway, doors blown from their frames and shattered glass covering the floor.
An unidentified man on camera says a tank fired on the mosque after town residents sought refuge there.
Another video shows men, women and children fleeing a building after it appears to be hit by a shell. Heavy automatic gunfire is heard in the background. A third video shows a man with a deep gash in this thigh that the video says was caused by shrapnel from a tank shell.
Mr Abdul-Rahman said the army was fighting a large number of army defectors in Hirak.
He said the rebels ambushed an armoured personnel carrier, killing five soldiers and wounding several. He and the Local Coordination Committees, another activist group, said a 15-year-old boy was killed by snipers.
Security forces were conducting raids in pursuit of defectors and activists, making arbitrary arrests and burning homes, the LCC said. The group reported at least 21 deaths across Syria Tuesday.
The Al Assad regime agreed on Monday to allow visits by two other prominent international emissaries it had previously rebuffed - former UN secretary-general Kofi Annan, the new special envoy to Syria, and UN humanitarian chief Valerie Amos.
Mr Annan is to reach Damascus on Friday representing the UN and the Arab League. Ms Amos is to arrive today and leave on Friday.
Ms Amos said the aim of her visit is "to urge all sides to allow unhindered access for humanitarian relief workers so they can evacuate the wounded and deliver essential supplies".
In a message welcoming her visit, Syria said she would be able to visit "some areas" - making it unlikely she will see some of the places hardest-hit by Mr Al Assad's forces, such as the Baba Amr neighbourhood in Homs.
Syrian authorities have not allowed Red Cross aid teams to enter the area since then, despite assurances they would be able to. Activists accuse the regime of trying to hide the area's destruction.
A Syrian Red Crescent official said Syrian authorities were citing security concerns for the delay.
"The Syrian government has informed us that it is cleaning the area from explosives and mines to ensure safe access for us," head of operations in Syria Khaled Erq Sousi told The Associated Press. He said Red Crescent volunteers were continuing their mission by distributing humanitarian aids to the village of Abel, some 10 kilometres from Homs.
The UN says more than 7,500 people have been killed since Syria's uprising started in March 2011. Activists put the death toll at more than 8,000.
* Associated Press and Agence France-Presse
Europa League group stage draw
Group A: Villarreal, Maccabi Tel Aviv, Astana, Slavia Prague.
Group B: Dynamo Kiev, Young Boys, Partizan Belgrade, Skenderbeu.
Group C: Sporting Braga, Ludogorets, Hoffenheim, Istanbul Basaksehir.
Group D: AC Milan, Austria Vienna , Rijeka, AEK Athens.
Group E: Lyon, Everton, Atalanta, Apollon Limassol.
Group F: FC Copenhagen, Lokomotiv Moscow, Sheriff Tiraspol, FC Zlin.
Group G: Vitoria Plzen, Steaua Bucarest, Hapoel Beer-Sheva, FC Lugano.
Group H: Arsenal, BATE Borisov, Cologne, Red Star Belgrade.
Group I: Salzburg, Marseille, Vitoria Guimaraes, Konyaspor.
Group J: Athletic Bilbao, Hertha Berlin, Zorya Luhansk, Ostersund.
Group K: Lazio, Nice, Zulte Waregem, Vitesse Arnhem.
Group L: Zenit St Petersburg, Real Sociedad, Rosenborg, Vardar
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants
Women & Power: A Manifesto
Mary Beard
Profile Books and London Review of Books
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The%20specs
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The specs
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Power: 480kW
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Transmission: Single-speed automatic
Price: From Dh359,900 ($98,000)
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
Killing of Qassem Suleimani
Explainer: Tanween Design Programme
Non-profit arts studio Tashkeel launched this annual initiative with the intention of supporting budding designers in the UAE. This year, three talents were chosen from hundreds of applicants to be a part of the sixth creative development programme. These are architect Abdulla Al Mulla, interior designer Lana El Samman and graphic designer Yara Habib.
The trio have been guided by experts from the industry over the course of nine months, as they developed their own products that merge their unique styles with traditional elements of Emirati design. This includes laboratory sessions, experimental and collaborative practice, investigation of new business models and evaluation.
It is led by British contemporary design project specialist Helen Voce and mentor Kevin Badni, and offers participants access to experts from across the world, including the likes of UK designer Gareth Neal and multidisciplinary designer and entrepreneur, Sheikh Salem Al Qassimi.
The final pieces are being revealed in a worldwide limited-edition release on the first day of Downtown Designs at Dubai Design Week 2019. Tashkeel will be at stand E31 at the exhibition.
Lisa Ball-Lechgar, deputy director of Tashkeel, said: “The diversity and calibre of the applicants this year … is reflective of the dynamic change that the UAE art and design industry is witnessing, with young creators resolute in making their bold design ideas a reality.”
Rafael Nadal's record at the MWTC
2009 Finalist
2010 Champion
Jan 2011 Champion
Dec 2011 Semi-finalist
Dec 2012 Did not play
Dec 2013 Semi-finalist
2015 Semi-finalist
Jan 2016 Champion
Dec 2016 Champion
2017 Did not play
Tributes from the UAE's personal finance community
• Sebastien Aguilar, who heads SimplyFI.org, a non-profit community where people learn to invest Bogleheads’ style
“It is thanks to Jack Bogle’s work that this community exists and thanks to his work that many investors now get the full benefits of long term, buy and hold stock market investing.
Compared to the industry, investing using the common sense approach of a Boglehead saves a lot in costs and guarantees higher returns than the average actively managed fund over the long term.
From a personal perspective, learning how to invest using Bogle’s approach was a turning point in my life. I quickly realised there was no point chasing returns and paying expensive advisers or platforms. Once money is taken care off, you can work on what truly matters, such as family, relationships or other projects. I owe Jack Bogle for that.”
• Sam Instone, director of financial advisory firm AES International
"Thought to have saved investors over a trillion dollars, Jack Bogle’s ideas truly changed the way the world invests. Shaped by his own personal experiences, his philosophy and basic rules for investors challenged the status quo of a self-interested global industry and eventually prevailed. Loathed by many big companies and commission-driven salespeople, he has transformed the way well-informed investors and professional advisers make decisions."
• Demos Kyprianou, a board member of SimplyFI.org
"Jack Bogle for me was a rebel, a revolutionary who changed the industry and gave the little guy like me, a chance. He was also a mentor who inspired me to take the leap and take control of my own finances."
• Steve Cronin, founder of DeadSimpleSaving.com
"Obsessed with reducing fees, Jack Bogle structured Vanguard to be owned by its clients – that way the priority would be fee minimisation for clients rather than profit maximisation for the company.
His real gift to us has been the ability to invest in the stock market (buy and hold for the long term) rather than be forced to speculate (try to make profits in the shorter term) or even worse have others speculate on our behalf.
Bogle has given countless investors the ability to get on with their life while growing their wealth in the background as fast as possible. The Financial Independence movement would barely exist without this."
• Zach Holz, who blogs about financial independence at The Happiest Teacher
"Jack Bogle was one of the greatest forces for wealth democratisation the world has ever seen. He allowed people a way to be free from the parasitical "financial advisers" whose only real concern are the fat fees they get from selling you over-complicated "products" that have caused millions of people all around the world real harm.”
• Tuan Phan, a board member of SimplyFI.org
"In an industry that’s synonymous with greed, Jack Bogle was a lone wolf, swimming against the tide. When others were incentivised to enrich themselves, he stood by the ‘fiduciary’ standard – something that is badly needed in the financial industry of the UAE."
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THE SPECS
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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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At a glance
- 20,000 new jobs for Emiratis over three years
- Dh300 million set aside to train 18,000 jobseekers in new skills
- Managerial jobs in government restricted to Emiratis
- Emiratis to get priority for 160 types of job in private sector
- Portion of VAT revenues will fund more graduate programmes
- 8,000 Emirati graduates to do 6-12 month replacements in public or private sector on a Dh10,000 monthly wage - 40 per cent of which will be paid by government