Yemenis protest against Iran for alleged support of rebels


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SANA'A // Dozens of Yemenis protested yesterday against alleged Iranian support to northern rebels and demanded the expulsion of the Iranian ambassador and the suspension of relations with Tehran. The protesters, mobilised by non-governmental organisations backed by the government, shouted slogans against what Yemen says is Iranian support for al Houthis, who are Shiites.

The demonstrators shouted: "No to the plot of Persian expansion", "No to Persian interference in Yemen" and "Yemen will remain free and independent, while gathered in front of the Iranian Embassy in Sana'a. Anti-riot police were not present. "Iranian and Persian intervention in Yemen's internal affairs has become clearly visible. Nobody will believe the lies of the Iranian politicians and its religious institutions that they do not support their mercenaries and gangs of sabotage and terrorism - Events and documents have shown there was an unlimited Iranian support to the rebels," a statement read during the protest said.

The "Iran leadership - could not hide its dreams of re-establishing its Persian empire on Arab land to the extent that the Iran Embassy in our country turned into an operation room for those who sold themselves to the devil and in this way, Iran has violated all international conventions and ethics of relations between countries," the statement said. The protest follows similar protests in Tehran by Iranian students against the Saudi-Yemeni offensive against al Houthis in the north of the country. Hundreds of Iranian university students on Tuesday staged protests in front of the Saudi and Yemen embassies in Tehran "over the killing of innocents".

They also chanted slogans against Saudi and Yemeni officials, calling them perpetrators of US and Israeli policies in confronting Muslims. According to Iran's state-owned English-language Press TV, the Iranian protesters handed a letter over to the foreign ministry on Tuesday, urging the government to deport the Saudi ambassador to Tehran in protest against his country's assault on Yemeni rebels.

Yemen said yesterday it had ordered the closing of the Iranian hospital and clinic in Sana'a because of what it called Iran's lack of transparency in their accounts. Pro-government newspapers several weeks ago accused the two facilities, which are both run by the Iranian Red Crescent, of being a means for Iranian funding of the rebels. The government accuses the al Houthis of wanting to restore the Zaidi imamate overthrown in a 1962 revolution and of being supported by parties in Shiite-led Iran, the main regional rival of Sunni-ruled Saudi Arabia. The rebels say they are fighting social, economic and religious marginalisation by the Sana'a authorities and accuse Saudi Arabia of backing the government.

Fierce fighting continues between the army and al Houthi insurgents in the northern province of Sa'ada and the Harf Sufian district of neighbouring Arman province. The government launched a massive offensive on August 11 against the rebels who belong to the Zaidi sect, an offshoot of Shia Islam. The rebels have been fighting a sporadic war against Yemen's government since 2004 and have repeatedly accused the Saudi army of backing Yemeni troops.

Saudi Arabia joined the battle this month after the Houthis attacked Jebel al-Dukhan inside the Saudi border. That incursion killed a Saudi border guard and injured 11 others, Saudi officials say. Al Houthis said more than 586 missiles have been launched by the Saudi army on rebel areas. They claimed in an e-mailed statement to the media yesterday that the Saudi air force carried out more than 15 raids, targeting the districts of Razeh, Saqin, al Malahidh, Shada and Haidan.

The Houthis said Saudi troops tried to enter Yemeni territory yesterday morning, but were repelled and two of their tanks were destroyed, the statement said. The rebels aired a video clip late Tuesday of what they claimed showed them repelling a Saudi march near al Rumaih mountain as well as interviews with Saudi infantry soldiers. Saudi Arabia denied reports that its military had entered Yemen to strike the rebels.

The Yemeni army said in a statement yesterday it killed a number of rebels in battles in Sa'ada and Harf Sufian, without giving an exact figure. Among the slain rebels is Abood Shamlan, a leading rebel, it claimed. The statement also said a vehicle loaded with weapons was damaged in Mahza village in Sa'ada. Such reports could not be verified by independent sources because Sa'ada is closed to media.

In addition to the insurgency in the north, Yemen is facing a growing secessionist uprising in the south, the threat of an expanding al Qa'eda presence and economic hardships, including the depletion of oil and water resources. Five protesters were killed and six others - including four policemen - injured yesterday in clashes between southern protesters and police in the southern province of Shabwah, according to local sources.

Hundreds took to the streets of Attak yesterday to demand the release of hundreds of people arrested in previous protests. Dozens were reportedly killed and injured in the previous protests. The protesters, who belong to the separatist movement carried flags of the former southern republic, which merged with the north in 1990. Nasser Huwaidar, a leading activist in the southern movement accused the government of drawing them to violence.

malqadhi@thenational.ae

Director: Laxman Utekar

Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna

Rating: 1/5

The biog

Siblings: five brothers and one sister

Education: Bachelors in Political Science at the University of Minnesota

Interests: Swimming, tennis and the gym

Favourite place: UAE

Favourite packet food on the trip: pasta primavera

What he did to pass the time during the trip: listen to audio books

CREW
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Napoleon
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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.”

The Cairo Statement

 1: Commit to countering all types of terrorism and extremism in all their manifestations

2: Denounce violence and the rhetoric of hatred

3: Adhere to the full compliance with the Riyadh accord of 2014 and the subsequent meeting and executive procedures approved in 2014 by the GCC  

4: Comply with all recommendations of the Summit between the US and Muslim countries held in May 2017 in Saudi Arabia.

5: Refrain from interfering in the internal affairs of countries and of supporting rogue entities.

6: Carry out the responsibility of all the countries with the international community to counter all manifestations of extremism and terrorism that threaten international peace and security

Last 10 NBA champions

2017: Golden State bt Cleveland 4-1
2016: Cleveland bt Golden State 4-3
2015: Golden State bt Cleveland 4-2
2014: San Antonio bt Miami 4-1
2013: Miami bt San Antonio 4-3
2012: Miami bt Oklahoma City 4-1
2011: Dallas bt Miami 4-2
2010: Los Angeles Lakers bt Boston 4-3
2009: Los Angeles Lakers bt Orlando 4-1
2008: Boston bt Los Angeles Lakers 4-2

A cheaper choice

Vanuatu: $130,000

Why on earth pick Vanuatu? Easy. The South Pacific country has no income tax, wealth tax, capital gains or inheritance tax. And in 2015, when it was hit by Cyclone Pam, it signed an agreement with the EU that gave it some serious passport power.

Cost: A minimum investment of $130,000 for a family of up to four, plus $25,000 in fees.

Criteria: Applicants must have a minimum net worth of $250,000. The process take six to eight weeks, after which the investor must travel to Vanuatu or Hong Kong to take the oath of allegiance. Citizenship and passport are normally provided on the same day.

Benefits:  No tax, no restrictions on dual citizenship, no requirement to visit or reside to retain a passport. Visa-free access to 129 countries.

Five expert hiking tips
    Always check the weather forecast before setting off Make sure you have plenty of water Set off early to avoid sudden weather changes in the afternoon Wear appropriate clothing and footwear Take your litter home with you
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Henrik Stenson's finishes at Abu Dhabi HSBC Championship:

2006 - 2
2007 - 8
2008 - 2
2009 - MC
2010 - 21
2011 - 42
2012 - MC
2013 - 23
2014 - MC
2015 - MC
2016 - 3
2017 - 8

Central%20Bank's%20push%20for%20a%20robust%20financial%20infrastructure
%3Cul%3E%0A%3Cli%3ECBDC%20real-value%20pilot%20held%20with%20three%20partner%20institutions%26nbsp%3B%3C%2Fli%3E%0A%3Cli%3EPreparing%20buy%20now%2C%20pay%20later%20regulations%26nbsp%3B%3C%2Fli%3E%0A%3Cli%3EPreparing%20for%20the%202023%20launch%20of%20the%20domestic%20card%20initiative%26nbsp%3B%3C%2Fli%3E%0A%3Cli%3EPhase%20one%20of%20the%20Financial%20Infrastructure%20Transformation%20(FiT)%20completed%3C%2Fli%3E%0A%3C%2Ful%3E%0A
Libya's Gold

UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves. 

The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.

Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.

A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.

Company%20profile
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EMaly%20Tech%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202023%3Cbr%3E%3Cstrong%3EFounder%3A%3C%2Fstrong%3E%20Mo%20Ibrahim%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%20International%20Financial%20Centre%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20FinTech%3Cbr%3E%3Cstrong%3EFunds%20raised%3A%3C%2Fstrong%3E%20%241.6%20million%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2015%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3EPre-seed%2C%20planning%20first%20seed%20round%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20GCC-based%20angel%20investors%3C%2Fp%3E%0A
ALRAWABI%20SCHOOL%20FOR%20GIRLS
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SQUAD

Ali Khaseif, Fahad Al Dhanhani, Adel Al Hosani, Mohammed Al Shamsi, Bandar Al Ahbabi, Mohammed Barghash, Salem Rashid, Khalifa Al Hammadi, Shaheen Abdulrahman, Hassan Al Mahrami, Walid Abbas, Mahmoud Khamis, Yousef Jaber, Saeed Ahmed, Majed Sorour, Majed Hassan, Ali Salmeen, Abdullah Ramadan, Khalil Al Hammadi, Fabio De Lima, Khalfan Mubarak, Tahnoun Al Zaabi, Ali Saleh, Caio Canedo, Muhammed Jumah, Ali Mabkhout, Sebastian Tagliabue, Zayed Al Ameri

The Al Barzakh Festival takes place on Wednesday and Thursday at 7.30pm in the Red Theatre, NYUAD, Saadiyat Island. Tickets cost Dh105 for adults from platinumlist.net

RESULTS

6.30pm: Longines Conquest Classic Dh150,000 Maiden 1,200m.
Winner: Halima Hatun, Antonio Fresu (jockey), Ismail Mohammed (trainer).

7.05pm: Longines Gents La Grande Classique Dh155,000 Handicap 1,200m.
Winner: Moosir, Dane O’Neill, Doug Watson.

7.40pm: Longines Equestrian Collection Dh150,000 Maiden 1,600m.
Winner: Mazeed, Richard Mullen, Satish Seemar.

8.15pm: Longines Gents Master Collection Dh175,000 Handicap.
Winner: Thegreatcollection, Pat Dobbs, Doug Watson.

8.50pm: Longines Ladies Master Collection Dh225,000 Conditions 1,600m.
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9.25pm: Longines Ladies La Grande Classique Dh155,000 Handicap 1,600m.
Winner: Secret Trade, Tadhg O’Shea, Ali Rashid Al Raihe.

10pm: Longines Moon Phase Master Collection Dh170,000 Handicap 2,000m.
Winner:

The%20specs
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PROFILE OF SWVL

Started: April 2017

Founders: Mostafa Kandil, Ahmed Sabbah and Mahmoud Nouh

Based: Cairo, Egypt

Sector: transport

Size: 450 employees

Investment: approximately $80 million

Investors include: Dubai’s Beco Capital, US’s Endeavor Catalyst, China’s MSA, Egypt’s Sawari Ventures, Sweden’s Vostok New Ventures, Property Finder CEO Michael Lahyani

The specs: Volvo XC40

Price: base / as tested: Dh185,000

Engine: 2.0-litre, turbocharged in-line four-cylinder

Gearbox: Eight-speed automatic

Power: 250hp @ 5,500rpm

Torque: 350Nm @ 1,500rpm

Fuel economy, combined: 10.4L / 100km

THE CLOWN OF GAZA

Director: Abdulrahman Sabbah 

Starring: Alaa Meqdad

Rating: 4/5

Manikarnika: The Queen of Jhansi

Director: Kangana Ranaut, Krish Jagarlamudi

Producer: Zee Studios, Kamal Jain

Cast: Kangana Ranaut, Ankita Lokhande, Danny Denzongpa, Atul Kulkarni

Rating: 2.5/5