Syrian president Bashar Al Assad, right, meets with international envoy to Syria Lakhdar Brahimi in Damascus yesterday. Mr Assad has been warned not to use chemical weapons.
Syrian president Bashar Al Assad, right, meets with international envoy to Syria Lakhdar Brahimi in Damascus yesterday. Mr Assad has been warned not to use chemical weapons.

Syrian regime deploys bombs containing killer gas: rights groups



The Syrian regime has deployed bombs containing a killer gas while fighting rebels in the central city of Homs, activists said yesterday.

The allegations came as Russia, a Syrian ally, warned president Bashar Al Assad that it would be "political suicide" for his government to use chemical weapons in Syria.

Russia's foreign Minister Sergei Lavrov told Russia Today that Mr Al Assad had given Moscow repeated assurances he had no plans to order such an attack. "I do not believe Syria would use chemical weapons," Lavrov said. "It would be a political suicide for the government if it does."

But the Syrian Observatory for Human Rights said yesterday that it had received reports that Assad's military had used a toxic gas during street clashes with rebels. "Activists in Homs say that six rebels died on Sunday night on the Khalidiya-Bayada front line because they inhaled odourless gas and white smoke," said the Britain-based Observatory, which relies on a network of activists, lawyers and doctors to document Syria's raging conflict. "Gas spread in the area after regime troops threw bombs that gave off white smoke as soon as they hit the walls," said the Observatory.

"Those who inhaled the gas felt nauseous and suffered severe headaches. Some suffered fits," it added. "These are not chemical weapons, but we do not know whether they are internationally prohibited," said the Observatory's director Rami Abdel Rahman. "Activists say it is the first time they have recorded these effects," he added. "They are not conventional weapons." The Observatory called on the International Committee of the Red Cross to urgently send a specialised medical team to Homs, several of whose districts have been besieged by army forces for more than six months.

The Local Coordination Committees (LCC) also reported the use of "bombs containing gases" in Homs. "These gases lead to muscle relaxation, severe difficulty in breathing and the narrowing of the iris," said the LCC, a grassroots network of activists.

Video filmed by activists and distributed online by the LCC showed a man laid out on a stretcher struggling to breathe as an unidentified doctor held an oxygen mask over his face. "It's definitely a poisonous gas, but we don't know what type it is," said a field doctor. "This man has been injured by the gas. We do not know what type of gas it is. It is definitely not sarin," he added.

US president Barack Obama has led international warnings to Mr Al Assad over Syria's chemical weapons arsenal but Damascus has repeatedly insisted it would not use the arms against its own people.

Russia has remained Syria's main ally throughout 21 months of violence that an opposition monitoring group says has claimed more than 44,000 lives. It scuttled three rounds of UN Security Council sanctions against Mr Al Assad and condemned Washington for recognising the Syrian opposition as the legitimate voice of the country's citizens. Moscow's position has frustrated western attempts to end the bloodshed by forcing Mr Al Assad from power.

But Russia also remains one of the only nations to remain in constant contact with Mr Al Assad - a status the West has urged it to use to pressure him to cede power.

Mr Lavrov said Moscow checks on every report about the movement of Syrian chemical weapons with Damascus to make sure there was no danger of their possible use. "Every time we hear rumours, or pieces of information come to surface that the Syrians are doing something with the chemical weapons we double-check, we triple-check, we go directly to the government and all the time we get very firm assurances that this is not going to be used under any circumstances," Mr Lavrov said.

On the diplomatic front, the international envoy to Syria said after talks with president Bashar Assad yesterday that the situation in the country was still "worrying" and gave no indication of progress toward a negotiated solution for the civil war.

Lakhdar Brahimi said he and Mr Al Assad exchanged views on the crisis and discussed possible steps forward, which he did not disclose. He spoke briefly to reporters after meeting the Syrian leader at the presidential palace in Damascus. "The situation in Syria is still worrying and we hope that all the parties will go toward the solution that the Syrian people are hoping for and look forward to," Brahimi said.

Syria's state news agency quoted Assad as saying his government supports "any effort in the interest of the Syrian people which preserves the homeland's sovereignty and independence". Mr Brahimi has apparently made little progress toward brokering an end to the conflict since starting his job in September, primarily because both sides adamantly refuse to talk to each other.

Brahimi's two-day visit was to end later Monday. It is his third to Damascus as an envoy of the United Nations and the Arab League. The security situation in Damascus and elsewhere in the country has declined since Brahimi's previous visits. Instead of flying in to the Damascus International Airport as he did on earlier visits, Mr Brahimi drove to Damascus over land from the Lebanese capital Beirut because of fighting near the Damascus airport.

* Agence France-Presse and Associated Press

Electoral College Victory

Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate. 

 

Popular Vote Tally

The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.

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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.”

If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.

When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.

How to get there: Emirates currently flies from Dubai to Orlando five times a week.
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COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
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Close your windows and turn on the AC.

Shower or bath after being outside.

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Stay indoors when conditions are particularly poor.

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The specs

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Nayanthara: Beyond The Fairy Tale

Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni

Director: Amith Krishnan

Rating: 3.5/5

From Zero

Artist: Linkin Park

Label: Warner Records

Number of tracks: 11

Rating: 4/5