Displaced Syrian children who fled the countryside surrounding ISIL's Raqqa stronghold wait for food to be distributed at a temporary camp in the village of Ain Issa on July 11, 2017. Bulent Kilic / AFP
Displaced Syrian children who fled the countryside surrounding ISIL's Raqqa stronghold wait for food to be distributed at a temporary camp in the village of Ain Issa on July 11, 2017. Bulent Kilic / AFP
Displaced Syrian children who fled the countryside surrounding ISIL's Raqqa stronghold wait for food to be distributed at a temporary camp in the village of Ain Issa on July 11, 2017. Bulent Kilic / AFP
Displaced Syrian children who fled the countryside surrounding ISIL's Raqqa stronghold wait for food to be distributed at a temporary camp in the village of Ain Issa on July 11, 2017. Bulent Kilic / A

UN food agency delivers aid to areas north of Raqqa for first time in three years


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The United Nations said on Wednesday it was using newly opened land routes in Syria to expand food deliveries to areas around the northern city of Raqqa, where US-backed forces are battling ISIL militants.

The new access has allowed the World Food Programme to deliver food to rural areas north of the city for the first time in three years.

More than 190,000 people have been displaced from and within Raqqa province since April 1, according to the UN refugee agency. In the past 48 hours, hundreds of civilians managed to flee areas under ISIL control and cross to territory seized by the US-backed alliance known as the Syrian Democratic Forces, according to the Syrian Observatory for Human Rights, a Britain-based monitoring group.

As the map of which group controls what changes, so too has the access and WFP said it is now delivering food every month to nearly 200,000 people in eight hard-to-reach locations inside Raqqa province as well as other areas in a neighbouring province.

Prior to the re-opening of the road linking Aleppo in the west to Hassakeh in the east, the WFP relied on airlifts.

"Replacing airlifts with road deliveries will save an estimated US$19 million (Dh69.8m) per year, as each truck on the road carries the equivalent of a planeload of food at a significantly lower cost," said Jakob Kern, the WFP country representative in Syria.

"With these cost savings and improved access, we are now reaching more families and people returning to their homes who need our help with regular food deliveries."

One area that is now reachable is the strategic town of Tabqa, which was taken from ISIL by the Syrian Democratic Forces in May. This month, WFP said it was able to double the number of people it reaches, delivering monthly food rations to 25,000 people, many of whom have returned to their original homes and are now working to rebuild their lives.

The advance towards the city of Raqqa began last year.

The fight against ISIL is only one facet of the war in Syria, which is now in its seventh year. Six rounds of UN-brokered peace talks in Geneva have failed to bring the warring sides closer to a political settlement.

A seventh round is now underway in the Swiss city, but expectations for a breakthrough are almost non-existent.

On Wednesday, the head of the Syrian opposition delegation accused president Bashar Al Assad's government of refusing to engage in political discussions.

Nasr Al Hariri of the High Negotiations Committee also challenged the UN security council to "uphold its responsibilities" and maintain pressure on Mr Al Assad to honour resolutions that the council has passed. He spoke to reporters after emerging from talks with the UN envoy for Syria, Staffan de Mistura, in the latest round of indirect peace talks.

Mr Al Hariri cited the "continuous refusing" of Mr Al Assad's government to participate in political negotiations.

Security council resolution 2254 from December 2015 called on top UN officials to convene the two sides "to engage in formal negotiations on a political transition process".

Also on Wednesday, a human rights group said Syrian-Russian air strikes and artillery attacks on a town in southern Syria last month killed 10 civilians in and near a school.

Human Rights Watch said one of the air strikes hit the courtyard of a middle school in the town of Tafas in the southern province of Deraa, killing eight people, including a child. It said most of those killed were members of a family who had been displaced from another town.

Two other civilians, including a child, were killed an hour earlier by artillery attacks near the school, the group said.

Bill Van Esveld, the senior children's rights researcher at the US-based group, said on Wednesday that "as long as no one is held responsible for such repeated unlawful attacks, it's likely they will continue".

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Other acts on the Jazz Garden bill

Sharrie Williams
The American singer is hugely respected in blues circles due to her passionate vocals and songwriting. Born and raised in Michigan, Williams began recording and touring as a teenage gospel singer. Her career took off with the blues band The Wiseguys. Such was the acclaim of their live shows that they toured throughout Europe and in Africa. As a solo artist, Williams has also collaborated with the likes of the late Dizzy Gillespie, Van Morrison and Mavis Staples.
Lin Rountree
An accomplished smooth jazz artist who blends his chilled approach with R‘n’B. Trained at the Duke Ellington School of the Arts in Washington, DC, Rountree formed his own band in 2004. He has also recorded with the likes of Kem, Dwele and Conya Doss. He comes to Dubai on the back of his new single Pass The Groove, from his forthcoming 2018 album Stronger Still, which may follow his five previous solo albums in cracking the top 10 of the US jazz charts.
Anita Williams
Dubai-based singer Anita Williams will open the night with a set of covers and swing, jazz and blues standards that made her an in-demand singer across the emirate. The Irish singer has been performing in Dubai since 2008 at venues such as MusicHall and Voda Bar. Her Jazz Garden appearance is career highlight as she will use the event to perform the original song Big Blue Eyes, the single from her debut solo album, due for release soon.

AT%20A%20GLANCE
%3Cp%3E%3Cstrong%3EWindfall%3C%2Fstrong%3E%3Cbr%3EAn%20%E2%80%9Cenergy%20profits%20levy%E2%80%9D%20to%20raise%20about%20%C2%A35%20billion%20in%20a%20year.%20The%20temporary%20one-off%20tax%20will%20hit%20oil%20and%20gas%20firms%20by%2025%20per%20cent%20on%20extraordinary%20profits.%20An%2080%20per%20cent%20investment%20allowance%20should%20calm%20Conservative%20nerves%20that%20the%20move%20will%20dent%20North%20Sea%20firms%E2%80%99%20investment%20to%20save%20them%2091p%20for%20every%20%C2%A31%20they%20spend.%3Cbr%3E%3Cstrong%3EA%20universal%20grant%3C%2Fstrong%3E%3Cbr%3EEnergy%20bills%20discount%2C%20which%20was%20effectively%20a%20%C2%A3200%20loan%2C%20has%20doubled%20to%20a%20%C2%A3400%20discount%20on%20bills%20for%20all%20households%20from%20October%20that%20will%20not%20need%20to%20be%20paid%20back.%3Cbr%3E%3Cstrong%3ETargeted%20measures%3C%2Fstrong%3E%3Cbr%3EMore%20than%20eight%20million%20of%20the%20lowest%20income%20households%20will%20receive%20a%20%C2%A3650%20one-off%20payment.%20It%20will%20apply%20to%20households%20on%20Universal%20Credit%2C%20Tax%20Credits%2C%20Pension%20Credit%20and%20legacy%20benefits.%3Cbr%3ESeparate%20one-off%20payments%20of%20%C2%A3300%20will%20go%20to%20pensioners%20and%20%C2%A3150%20for%20those%20receiving%20disability%20benefits.%3C%2Fp%3E%0A
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Intellectually curious and thought-provoking, Tonight’s Chat moves the conversation forward.

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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.”

MATCH INFO

Sheffield United 3

Fleck 19, Mousset 52, McBurnie 90

Manchester United 3

Williams 72, Greenwood 77, Rashford 79

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Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
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