Yemen army kills Al Qaeda's second in command


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SANAA // Yemeni troops killed the second in command of Al Qaeda in the Arabian Peninsula, regarded by Washington as the jihadist network's deadliest branch, in a raid in the east, the defence ministry news website said today.

"The Saudi terrorist Saeed Al Shehri, the second man in Al Qaeda, was killed in a quality operation by the armed forces in Hadramawt," the 26sep.net news website reported.

"Six other terrorist elements accompanying him were also killed," it added quoting what it said was a "high-ranking source," without mentioning when the operation took place.

"Shehri's death deals a painful blow to what's left of the terrorist elements."

A tribal source said that a ground operation had taken place in the province of Hadramawt, where the family of Al Qaeda's slain founder Osama bin Laden had its roots.

AFP however could not independently confirm his death.

Shehri escaped death on September 20 last year when US drones carried out several air strikes on the village of Al-Mahfad in Abyan province in the south.

He was released from Guantanamo in 2007 and was flown to Saudi Arabia where he was put through a rehabilitation programme.

But after completing the programme, Shehri disappeared and later resurfaced as the second man in AQAP, which has been repeatedly described by US officials as the most dangerous of the jihadist network's worldwide affiliates.

Saudi and Yemeni Al Qaeda branches had merged to form the Yemen-based AQAP, announced in January 2009.

AQAP has been linked to the 2009 Christmas plot in which a bomb hidden in a Nigerian attacker's underwear failed to detonate on a plane bound for Detroit.

It is also suspected of having a hand in a 2010 attempt to blow up cargo planes heading to the United States with explosives concealed in printer cartridges.

In October 2000, an Al Qaeda suicide attack on the USS Cole in the port of Aden killed 17 US service members.

Fahd Al Quso who was wanted in connection with the bombing was killed in a US drone strike in May.

In 2011, AQAP took advantage of the weakness of the central government in Sanaa during protests against ousted president Ali Abdullah Saleh to expand its presence in the impoverished country.

It took over a string of towns across the south and southeast, mainly in Abyan.

But in May, the army launched an all-out offensive, forcing Al-Qaeda to withdraw from towns in Abyan as suspected US drone attacks in southern Yemen have targeted Al Qaeda insurgents.

Saleh's successor President Abdrabuh Mansur Hadi has pledged to crush the militants since he came to power in February.

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1. Lewis Hamilton, Mercedes - 263
2. Sebastian Vettel, Ferrari - 235
3. Valtteri Bottas, Mercedes - 212
4. Daniel Ricciardo, Red Bull - 162
5. Kimi Raikkonen, Ferrari - 138
6. Sergio Perez, Force India - 68

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Always use only regulated platforms

Stop all transactions and communication on suspicion

Save all evidence (screenshots, chat logs, transaction IDs)

Report to local authorities

Warn others to prevent further harm

Courtesy: Crystal Intelligence

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Director: Lana Wachowski

Stars:  Keanu Reeves, Carrie-Anne Moss, Jessica Henwick 

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Fourth Arab Economic and Social Development Summit

As he spoke, Mr Aboul Gheit repeatedly referred to the need to tackle issues affecting the welfare of people across the region both in terms of preventing conflict and in pushing development.
Lebanon is scheduled to host the fourth Arab Economic and Social Development Summit in January that will see regional leaders gather to tackle the challenges facing the Middle East. The last such summit was held in 2013. Assistant Secretary-General Hossam Zaki told The National that the Beirut Summit “will be an opportunity for Arab leaders to discuss solely economic and social issues, the conference will not focus on political concerns such as Palestine, Syria or Libya". He added that its slogan will be “the individual is at the heart of development”, adding that it will focus on all elements of human capital.

How to wear a kandura

Dos

  • Wear the right fabric for the right season and occasion 
  • Always ask for the dress code if you don’t know
  • Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work 
  • Wear 100 per cent cotton under the kandura as most fabrics are polyester

Don’ts 

  • Wear hamdania for work, always wear a ghutra and agal 
  • Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
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Analyst: Aqib Mehboob of Saudi Fransi Capital

Top pick: National Commercial Bank

Reason: It will be at the forefront of project financing for government-led projects

 

Analyst: Shabbir Malik of EFG-Hermes

Top pick: Al Rajhi Bank

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Analyst: Chiradeep Ghosh of Sico Bank

Top pick: Arab National Bank

Reason: Attractive valuation and good growth potential in terms of both balance sheet and dividends

UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

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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Flavour: Similar to goat’s milk, although less pungent. Vaguely sweet with a subtle, salty aftertaste.
Texture: Smooth and creamy, with a slightly thinner consistency than cow’s milk.
Use it: In your morning coffee, to add flavour to homemade ice cream and milk-heavy desserts, smoothies, spiced camel-milk hot chocolate.
Goes well with: chocolate and caramel, saffron, cardamom and cloves. Also works well with honey and dates.

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