Men walk past burning tyres, which activists say are being used to create smoke cover from warplanes, in a rebel-held neighbourhood of Aleppo on July 31, 2016. Abdalrhman Ismail/Reuters
Men walk past burning tyres, which activists say are being used to create smoke cover from warplanes, in a rebel-held neighbourhood of Aleppo on July 31, 2016. Abdalrhman Ismail/Reuters
Men walk past burning tyres, which activists say are being used to create smoke cover from warplanes, in a rebel-held neighbourhood of Aleppo on July 31, 2016. Abdalrhman Ismail/Reuters
Men walk past burning tyres, which activists say are being used to create smoke cover from warplanes, in a rebel-held neighbourhood of Aleppo on July 31, 2016. Abdalrhman Ismail/Reuters

Syrian rebels launch offensive aimed at breaking regime’s siege of Aleppo


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BEIRUT // Syrian rebels launched an offensive aimed at breaking the government’s siege of eastern Aleppo on Sunday, where the United Nations estimates some 300,000 people are trapped with dwindling food and medical supplies.

As the powerful, ultraconservative Ahrar Al Sham faction announced the rebels’ campaign, residents in the northern city’s besieged opposition quarters burnt tyres to reduce visibility for fighter jets flying overhead, according to local activist Wissam Zarqa.

The Syrian Observatory for Human Rights, a Britain-based opposition monitor, said rebels and pro-government forces were clashing along several fronts on the outskirts of the divided city.

Presumed Russian or government jets bombed rebel-held neighbourhoods in the eastern side of the city, the Observatory said. Earlier in the day, helicopters had dropped unguided barrel bombs on the rebel-held neighbourhood of Bustan Al Basha, it said.

Government forces closed off the last route to opposition-controlled areas of the city in early July, replicating siege tactics that it has employed with mixed results throughout the war. Opposition neighbourhoods in Homs, the country’s third largest city, surrendered to government control in 2014 after a two-year siege left residents at the brink of starvation. Other sieges have lasted until today, with devastating humanitarian consequences.

The UN’s special envoy to Syria, Staffan de Mistura, warned on Friday that basic supplies in eastern Aleppo could run out in three weeks.

The Syrian and Russian militaries announced safe corridors for residents who wanted to leave the besieged area on Thursday, but according to the Russian government, only 169 civilians had left by Saturday. Several rights groups have warned it is illegal to deprive civilians of basic necessities, and that residents should not have to choose between leaving their homes or starving.

Meanwhile in southern Syria, an air raid on a hospital in an opposition-controlled town put the facility out of service on Sunday.

The hospital in Jasem was targeted in one of several air strikes to hit the town in Deraa province, located some 35 miles south of Damascus, according to the Local Coordination Committees opposition activist network. The group said six people were killed in the strikes, blaming them on the government.

The Observatory also said a strike had put the hospital out of service and that a pharmacist had been killed.

* Agence France-Presse

Oppenheimer
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Banned items
Dubai Police has also issued a list of banned items at the ground on Sunday. These include:
  • Drones
  • Animals
  • Fireworks/ flares
  • Radios or power banks
  • Laser pointers
  • Glass
  • Selfie sticks/ umbrellas
  • Sharp objects
  • Political flags or banners
  • Bikes, skateboards or scooters
Tree of Hell

Starring: Raed Zeno, Hadi Awada, Dr Mohammad Abdalla

Director: Raed Zeno

Rating: 4/5

Brave CF 27 fight card

Welterweight:
Abdoul Abdouraguimov (champion, FRA) v Jarrah Al Selawe (JOR)

Lightweight:
Anas Siraj Mounir (TUN) v Alex Martinez (CAN)

Welterweight:
Mzwandile Hlongwa (RSA) v Khamzat Chimaev (SWE)

Middleweight:
Tarek Suleiman (SYR) v Rustam Chsiev (RUS)
Mohammad Fakhreddine (LEB) v Christofer Silva (BRA)

Super lightweight:
Alex Nacfur (BRA) v Dwight Brooks (USA)

Bantamweight:
Jalal Al Daaja (JOR) v Tariq Ismail (CAN)
Chris Corton (PHI) v Zia Mashwani (PAK)

Featherweight:
Sulaiman (KUW) v Abdullatip (RUS)

Super lightweight:
Flavio Serafin (BRA) v Mohammad Al Katib (JOR)

UAE - India ties

The UAE is India’s third-largest trade partner after the US and China

Annual bilateral trade between India and the UAE has crossed US$ 60 billion

The UAE is the fourth-largest exporter of crude oil for India

Indians comprise the largest community with 3.3 million residents in the UAE

Indian Prime Minister Narendra Modi first visited the UAE in August 2015

His visit on August 23-24 will be the third in four years

Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, visited India in February 2016

Sheikh Mohamed was the chief guest at India’s Republic Day celebrations in January 2017

Modi will visit Bahrain on August 24-25

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.”

Benefits of first-time home buyers' scheme
  • Priority access to new homes from participating developers
  • Discounts on sales price of off-plan units
  • Flexible payment plans from developers
  • Mortgages with better interest rates, faster approval times and reduced fees
  • DLD registration fee can be paid through banks or credit cards at zero interest rates
MATHC INFO

England 19 (Try: Tuilagi; Cons: Farrell; Pens: Ford (4)

New Zealand 7 (Try: Savea; Con: Mo'unga)

The%20Genius%20of%20Their%20Age
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About Karol Nawrocki

• Supports military aid for Ukraine, unlike other eurosceptic leaders, but he will oppose its membership in western alliances.

• A nationalist, his campaign slogan was Poland First. "Let's help others, but let's take care of our own citizens first," he said on social media in April.

• Cultivates tough-guy image, posting videos of himself at shooting ranges and in boxing rings.

• Met Donald Trump at the White House and received his backing.

MEFCC information

Tickets range from Dh110 for an advance single-day pass to Dh300 for a weekend pass at the door. VIP tickets have sold out. Visit www.mefcc.com to purchase tickets in advance.