A member of the Iraqi Federal Police opens fire against ISIL militants in the Old City of Mosul, Iraq July 7, 2017. Ahmed Saad / Reuters
A member of the Iraqi Federal Police opens fire against ISIL militants in the Old City of Mosul, Iraq July 7, 2017. Ahmed Saad / Reuters
A member of the Iraqi Federal Police opens fire against ISIL militants in the Old City of Mosul, Iraq July 7, 2017. Ahmed Saad / Reuters
A member of the Iraqi Federal Police opens fire against ISIL militants in the Old City of Mosul, Iraq July 7, 2017. Ahmed Saad / Reuters

Setback for Iraqi forces as ISIL counterattack in Mosul


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MOSUL // A major counterattack by ISIL along the northern edge of Mosul's Old City has pushed Iraqi Army forces back some 75 metres and is threatening recent gains in other Old City fronts.

An Iraqi military officer said the attack was launched just after midday on Friday and estimated it was carried out by 50 to 100 ISIL fighters. A doctor at a medic station said he received more than a dozen wounded Iraqi soldiers.

Iraqi security forces have recaptured  almost all of Mosul — Iraq's second largest city — from ISIL militants who overran it in 2014.

In late June, ISIL  counterattacks on nieghbourhoods on the western edge of Mosul , which had been retaken months earlier, stalled the Iraqi advance deeper into the Old City as they forced a reallocation of Iraqi ground forces, coalition surveillance and air support.

Unlike the Friday attack, the late June counterattack was launched from outside Mosul, most likely from Tal Afar, an ISIL-held town some 60 kilometres west of Mosul.

The counterattacks underline the extremist group's resilience in Iraq, despite significant territorial losses and months of heavy fighting with Iraqi forces backed by US air power.

The pockets of IS-held Mosul now measure less than one square kilometre.

Also on Friday, he United Nations migration agency suspended operations in two camps:  the Qayara air strip emergency site and the Haj Ali camp, which are both near Mosul  and currently hosting nearly 80,000 displaced Iraqis due to sporadic violence and exchange of gunfire.

Joel Millman, spokesman for the International organisation for Migration (IOM) said the security situation prevented six water-tanker trucks from entering the Haj Ali camp, where temperatures in recent days have reached the low 50s Celsius in recent days.

Security concerns have forced humanitarian groups to repeatedly suspend operations in and around the city since the battle for Mosul  against ISIL  began last October.

In April, the United Nations suspended operations in the same area due to security threats along the road to the south-west of the city.

In February the UN suspended work in eastern Mosul weeks after the area was declared fully liberated as ISIL attacks continued to inflict heavy civilian casualties.In both cases, the UN  resumed operations within a matter of days.

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Profile of Whizkey

Date founded: 04 November 2017

Founders: Abdulaziz AlBlooshi and Harsh Hirani

Based: Dubai, UAE

Number of employees: 10

Sector: AI, software

Cashflow: Dh2.5 Million  

Funding stage: Series A

MATCH INFO

Fixture: Thailand v UAE, Tuesday, 4pm (UAE)

TV: Abu Dhabi Sports

The specs

Engine: four-litre V6 and 3.5-litre V6 twin-turbo

Transmission: six-speed and 10-speed

Power: 271 and 409 horsepower

Torque: 385 and 650Nm

Price: from Dh229,900 to Dh355,000

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Director: Jon M Chu

Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater

Rating: 4/5

Essentials

The flights
Etihad and Emirates fly direct from the UAE to Delhi from about Dh950 return including taxes.
The hotels
Double rooms at Tijara Fort-Palace cost from 6,670 rupees (Dh377), including breakfast.
Doubles at Fort Bishangarh cost from 29,030 rupees (Dh1,641), including breakfast. Doubles at Narendra Bhawan cost from 15,360 rupees (Dh869). Doubles at Chanoud Garh cost from 19,840 rupees (Dh1,122), full board. Doubles at Fort Begu cost from 10,000 rupees (Dh565), including breakfast.
The tours 
Amar Grover travelled with Wild Frontiers. A tailor-made, nine-day itinerary via New Delhi, with one night in Tijara and two nights in each of the remaining properties, including car/driver, costs from £1,445 (Dh6,968) per person.

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The calling app is available to download on Google Play and Apple App Store

To successfully install ToTok, users are asked to enter their phone number and then create a nickname.

The app then gives users the option add their existing phone contacts, allowing them to immediately contact people also using the application by video or voice call or via message.

Users can also invite other contacts to download ToTok to allow them to make contact through the app.

 

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.”

SPECS

Engine: 4-litre V8 twin-turbo
Power: 630hp
Torque: 850Nm
Transmission: 8-speed Tiptronic automatic
Price: From Dh599,000
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1) The liquid nanoclay is a mixture of water and clay that aims to convert desert land to fertile ground

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3) One application is said to last five years

4) The cost of treatment per hectare (2.4 acres) of desert varies from $7,000 to $10,000 per hectare 

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

Bio:

Favourite Quote: Prophet Mohammad's quotes There is reward for kindness to every living thing and A good man treats women with honour

Favourite Hobby: Serving poor people 

Favourite Book: The Alchemist by Paulo Coelho

Favourite food: Fish and vegetables

Favourite place to visit: London

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Azhar Ali (capt), Shan Masood, Abid Ali, Imam-ul-Haq, Asad Shafiq, Babar Azam, Fawad Alam, Haris Sohail, Imran Khan, Kashif Bhatti, Mohammad Rizwan (wk), Naseem Shah, Shaheen Shah Afridi, Mohammad Abbas, Yasir Shah, Usman Shinwari