FILE - In this Wednesday, Sept. 21, 2016, file photo, provided by the Syrian Civil Defense White Helmets, rescue workers move a victim from site of airstrikes in the al-Sakhour neighborhood of the rebel-held part of eastern Aleppo, Syria. The call to get ready came at night. In the raging war zone of southwestern Syria, with enemy government forces on the march, the 98 White Helmets were told to bring spouses, children and but a few belongings to two collection points. Fabled rescuers themselves now in need of rescue, they embarked on a hair-raising journey through Israel, a supposed enemy, enroute to reluctant haven in Jordan, a country already burdened with multitudes of refugees. One woman gave birth along the way, many colleagues were left behind to a fate uncertain, and Syria called the multinational operation by several Western powers a crime. (Syrian Civil Defense White Helmets via AP, File)
Syrian White Helmets rescue volunteers fear for their lives after they were left behind as government forces retook rebel-held southern Syria. Handout

Syrian rescuers fear for their lives after colleagues' evacuation


The National

Civil defence volunteers left behind in southern Syria say they fear for their lives after the Syrian government condemned an operation to evacuate 422 of their colleagues with their families.

More than 400 Syrian rescuers and their families were evacuated from war-torn Quneitra province through Israel to Jordan on Saturday night, after rebels surrendered the last areas they held in the southwestern province to advancing government forces.

The international rescue operation was conceived by Britain, Germany and Canada and involved the cooperation of Israel, Jordan, the United States, and the UN. But on Monday Syrian government labelled the multilateral operation a "criminal process" designed to smuggle "terrorists" from the country.

The rescue operation was conceived of two weeks ago as Syrian government forces backed by Russia advanced in southwest Syria. As rebel forces negotiated surrender with government forces, the White Helmets were reportedly excluded from deals by Syrian officials and Russian representatives as a "a red line" who should be "eradicated," a source told the Associated Press.

The Syrian Civil Defence rescue group, known commonly as the White Helmets, has worked in rebel-held areas of Syria since 2013 to rescue survivors and retrieve the dead in the wake of bombings and chemical weapons attacks. Its 3000 volunteers claim to have saved 115,000 lives over five years, with one in four of its members being wounded or killed.

The White Helmets have financial backing from the US, Britain, and other countries and its work won it a Nobel Prize nomination.

Because of their work documenting atrocities, the group has also attracted the ire of the Syrian government, who smear them as terrorists and claim their rescues are staged, a claim that has been propagated online by conspiracy theorists.

In recent weeks, the rescue volunteers in southern Syria became squeezed between advancing government forces and an expanding local ISIS affiliate.

Evacuating them through Jordan quickly became impossible, as government seized a vital border crossing from the rebels and then deploying quickly along the border. Israeli Prime Minister Benjamin Netanyahu said he agreed to let them cross through Israel, after an appeal from US President Donald Trump and Canadian Prime Minister Justin Trudeau.

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Another nearly 400 people were meant to be pulled out as well. Most didn't make it in time to the assembly points, unable to make it through roads fast closing by advancing Syrian forces on one side and expanding ISIS militants on the other.

“We are in great danger,” a Civil Defense administrator in the Deraa countryside involved in coordinating the rescue operation told the Syria Direct website, after he was left behind.

As government forces reassert control over southwestern Syria he said he expected them to "take revenge" against White Helmet rescuers.

During previous evacuations from fallen opposition areas elsewhere, White Helmet volunteers have been targeted by government forces, removed from buses and forced into making “false confessions” about being paid agents, a source told the Associated Press. They were even filmed with weapons to support the government's narrative they work closely with the armed groups, he said.

Syria's foreign ministry on Monday called the rescue of the rescuers a "smuggling operation" that was evidence of a Western conspiracy to overthrow the government. A Syrian Foreign Ministry official repeated his government's accusations that the White Helmets staged and executed chemical attacks to blame Damascus.

It raised questions about the fate of 3,000 other White Helmets still operating in opposition-held northern Syria, living with other 1 million other displaced civilians in areas where the government is expected to target next.

The planners are still in touch with the volunteers who didn't make it out, advising them on what to do and where to be safe.

It is unclear if a similar operation can be reproduced. As for the hundred other volunteers in northern Syria, the source said the geography and landscape are different, with Turkish forces present in the area and far more options than the southwest, with firmly sealed frontiers from all sides.

In a statement Monday night, the White Helmets thanked "all governments who contributed" to the evacuation and asked the international community — if it won't act to end Syrian offensives — to "do more to help the hundreds of thousands remaining in southern Syria."

Germany, Canada and Britain have said they will resettle the White Helmets and their families within three months. The US and Jordan will not take any in.

But the international players appear unlikely to pull together the will for another rescue.

"A great many factors and partners had to interact in the right way," German Foreign Ministry spokesman Chrisofer Burger said.

Pressed whether the action set a precedent for further world help in evacuations, he said: "The factors that made it possible in this case to help in this way people who faced an acute threat, a very specific group, cannot be reproduced at will."

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.”

UAE currency: the story behind the money in your pockets
Kandahar

Director: Ric Roman Waugh

Stars: Gerard Butler, Navid Negahban, Ali Fazal

Rating: 2.5/5

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

KEY DATES IN AMAZON'S HISTORY

July 5, 1994: Jeff Bezos founds Cadabra Inc, which would later be renamed to Amazon.com, because his lawyer misheard the name as 'cadaver'. In its earliest days, the bookstore operated out of a rented garage in Bellevue, Washington

July 16, 1995: Amazon formally opens as an online bookseller. Fluid Concepts and Creative Analogies: Computer Models of the Fundamental Mechanisms of Thought becomes the first item sold on Amazon

1997: Amazon goes public at $18 a share, which has grown about 1,000 per cent at present. Its highest closing price was $197.85 on June 27, 2024

1998: Amazon acquires IMDb, its first major acquisition. It also starts selling CDs and DVDs

2000: Amazon Marketplace opens, allowing people to sell items on the website

2002: Amazon forms what would become Amazon Web Services, opening the Amazon.com platform to all developers. The cloud unit would follow in 2006

2003: Amazon turns in an annual profit of $75 million, the first time it ended a year in the black

2005: Amazon Prime is introduced, its first-ever subscription service that offered US customers free two-day shipping for $79 a year

2006: Amazon Unbox is unveiled, the company's video service that would later morph into Amazon Instant Video and, ultimately, Amazon Video

2007: Amazon's first hardware product, the Kindle e-reader, is introduced; the Fire TV and Fire Phone would come in 2014. Grocery service Amazon Fresh is also started

2009: Amazon introduces Amazon Basics, its in-house label for a variety of products

2010: The foundations for Amazon Studios were laid. Its first original streaming content debuted in 2013

2011: The Amazon Appstore for Google's Android is launched. It is still unavailable on Apple's iOS

2014: The Amazon Echo is launched, a speaker that acts as a personal digital assistant powered by Alexa

2017: Amazon acquires Whole Foods for $13.7 billion, its biggest acquisition

2018: Amazon's market cap briefly crosses the $1 trillion mark, making it, at the time, only the third company to achieve that milestone

A QUIET PLACE

Starring: Lupita Nyong'o, Joseph Quinn, Djimon Hounsou

Director: Michael Sarnoski

Rating: 4/5