The Assad regime hit back against rebels by shelling the capital yesterday. In Aleppo, a woman cries holding her injured son in a taxi as they arrive at a hospital following shelling by government forces. Fighting was also reported in Safireh in the north.
The Assad regime hit back against rebels by shelling the capital yesterday. In Aleppo, a woman cries holding her injured son in a taxi as they arrive at a hospital following shelling by government forces. Fighting was also reported in Safireh in the north.
The Assad regime hit back against rebels by shelling the capital yesterday. In Aleppo, a woman cries holding her injured son in a taxi as they arrive at a hospital following shelling by government forces. Fighting was also reported in Safireh in the north.
The Assad regime hit back against rebels by shelling the capital yesterday. In Aleppo, a woman cries holding her injured son in a taxi as they arrive at a hospital following shelling by government for

Syrian troops push back in see-saw fight for city


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Damascus // Regime troops pushed back against rebels around Damascus yesterday, after a week in which fighting inched closer to the centre of the capital.

The ebb and flow of the conflict in and around Damascus, with rebels and government forces battling along porous front lines that are often in a state of uneasy calm, makes charting the struggle for the city difficult.

But after rebel forces appeared on Wednesday to have pushed further into Jobar and Zamalka - a short distance from the landmark Abbasid square - government troops seem to have stopped any further advances, at least for the moment.

"There has been much exaggerated talk about the battle for Damascus now starting, but the army has been expecting this and has prepared for this," said an army officer in the capital.

Although "months" of fighting lay ahead, he added: "Anyone who thinks the army cannot hold this city against these terrorists is very wrong."

Opposition activists say the recent upsurge in fighting is not part of a final assault on the capital, but a gradual advance designed to increase pressure on the president, Bashar Al Assad.

"Street by street, the rebels are taking over more areas. There are plenty of places now in Damascus which are held by the rebels and which are no-go areas for regime troops," said one activist.

Many other places were not securely held by the rebels or the regime, he said, a fact he believed hurt the government's image so close to the seat of its power.

"The regime cannot say it is in full control of the capital because everyone in Damascus knows that at any moment, any area can be hit. That is the reality we all live with now," the activist said.

Government forces yesterday shelled neighbourhoods in the south of the city - something that happens as a matter of almost daily routine now.

And to the east, air strikes and artillery barrages were reported in several districts.

Major routes into and out of the city are frequently closed because of the clashes.

The activist said rebels had networks that bypassed the proliferation of checkpoints that have carved up Damascus and choked its entrances.

"I wouldn't say the situation is easy, but the rebels are confident and they are getting more supplies through than they used to and they are organising themselves better than before," he said.

Syrian authorities say they are fighting a war against foreign-backed Islamist extremists, not facing a popular revolt that took up arms in the face of a violent security crackdown.

The Nusra Front, a Islamist rebel group, killed seven Syrian soldiers at a checkpoint in the northern city of Safireh yesterday, after losing more than 100 men in the area over the past 72 hours, the Syrian Observatory for Human Rights said.

"At least 112 rebels have been killed since Wednesday in fighting with troops between Safireh and the town of Khanasir," the Britain-based Observatory said.

On Thursday, the UN secretary general Ban Ki-moon said Mr Al Assad's reaction to the initial peaceful protests was responsible for the increasing violence.

"He has been continuously killing, and he has not been listening to his own people. That's why people, out of frustration, out of anger, they have been fighting against their own government," the UN chief said.

But a small minority of those fighting to overthrow the regime are foreigners and late on Thursday, Rob Bertholee, head of the Dutch General Intelligence and Security Service, said he was alarmed by the growing number of Europeans joining the fight.

Mr Betrholee said hundreds of people from across Europe, and dozens from the Netherlands, had entered Syria to take part in what they believed to be a holy war.

Activists reported fighting across much of the country, including the eastern desert city of Palmyra that had, for some months, been relatively quiet and served as a place for civilians to escape violence in Homs.

More than 60,000 people have been killed so far, according to the UN, and the vast humanitarian costs continue to mount.

The Observatory said a bombing near the central city of Hama on Wednesday had killed 56 people, most of them civilian workers at a military factory.

The UN's refugee agency said yesterday that 5,000 people were leaving Syria for neighbouring states each day, with the total number of refugees having increased by 25 per cent in the last month.

Most of those displaced by the crisis remain inside Syria, often without access to adequate shelter, fuel, food or clean water.

Also yesterday, the Turkish finance minister Mehmet Simsek announced that Ankara had spent US$600 million (Dh2.3 billion) on sheltering refugees since the start of the uprising in March 2011.

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Who is Allegra Stratton?

 

  • Previously worked at The Guardian, BBC’s Newsnight programme and ITV News
  • Took up a public relations role for Chancellor Rishi Sunak in April 2020
  • In October 2020 she was hired to lead No 10’s planned daily televised press briefings
  • The idea was later scrapped and she was appointed spokeswoman for Cop26
  • Ms Stratton, 41, is married to James Forsyth, the political editor of The Spectator
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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.”

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Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

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The specs

Price, base / as tested Dh960,000
Engine 3.9L twin-turbo V8 
Transmission Seven-speed dual-clutch automatic
Power 661hp @8,000rpm
Torque 760Nm @ 3,000rpm
Fuel economy, combined 11.4L / 100k