A Free Syrian Army fighter fires his weapon during clashes with forces loyal to Syria's president Bashar Al Assad in Aleppo's Bustan Al Qasr district yesterday.
A Free Syrian Army fighter fires his weapon during clashes with forces loyal to Syria's president Bashar Al Assad in Aleppo's Bustan Al Qasr district yesterday.
A Free Syrian Army fighter fires his weapon during clashes with forces loyal to Syria's president Bashar Al Assad in Aleppo's Bustan Al Qasr district yesterday.
A Free Syrian Army fighter fires his weapon during clashes with forces loyal to Syria's president Bashar Al Assad in Aleppo's Bustan Al Qasr district yesterday.

Syrian war could cost another 100,000 lives in 2013, warns UN's Brahimi


  • English
  • Arabic

The international envoy to Syria warned yesterday that as many as 100,000 could die in the next year if a way cannot be found quickly to end the country's civil war.
Lakhdar Brahimi, the UN-Arab League envoy for the Syrian crisis, told reporters in Cairo that if the crisis continues Syria will not be divided into states "like what happened in Yugoslavia" but will face "Somalisation, which means warlords, and the Syrian people will be persecuted by those who control their fate".
Mr Brahimi's comments came as Russia despatched a third warship to its naval base in the Syrian port of Tartus in readiness for a possible evacuation of its nationals and as Turkish prime minister Recep Tayyip Erdogan told Syrian refugees that victory over the "tyrant" president Bashar Al Assad was at hand.
Since starting his job in September, Mr Brahimi has sought to advance an international plan, reached in Geneva six months ago, that calls for an open-ended ceasefire between rebels and government troops and the formation of a transitional government to run the country until elections can be held.
Over the past week, Mr Brahimi went to Damascus where he met Mr Al Assad then flew to Moscow, one of Syria's closest international allies, where he discussed ways of ending the country's crisis. "The situation in Syria is bad. Very, very bad," Mr Brahimi said after meeting Arab League chief Nabil Elaraby. "It is getting worse and therefore if nearly 50,000 were killed in nearly two years if, God forbids, this crisis continues for another year, it will not only kill 25,000. It will kill 100,000. The situation is deteriorating."
Activists say about 45,000 people have been killed in the crisis, which began with pro-democracy protests but has morphed into a civil war.
Mr Brahimi said that peace and security in the world will be threatened directly from Syria if there is no solution within the next few months. "I warn of what will come. The choice is between a political solution or of full collapse of the Syrian state."
Asked if there is any willingness by Mr Al Assad and the opposition to go into a political process, Mr Brahimi said, "No, there isn't. This is the problem." He added that the two sides don't talk to each other and there is need for help from outside.
Mr Brahimi hinted that the Geneva plan might be adopted by the UN Security Council, saying, "We have a suggestion and I think that this suggestion will be adopted by the international community." Russia and China have so far vetoed three Security Council draft resolutions seeking to force Mr Al Assad's hand with the threat of sanctions. Mr Brahimi held talks in Moscow on Saturday with Russian foreign minister Sergei Lavrov on his end-of-year bid to accelerate moves to halt the conflict that monitors say has killed 45,000 people.
The talks came amid signs that Russia was beginning to distance itself from Mr Al Assad's government. Moscow sent another naval vessel to the eastern Mediterranean yesterday in readiness for a possible evacuation of Russians, many of them women who married Syrian men during the Cold War years of close relations. The Novocherkassk landing ship joined the Azov and Nikolai Filchenkov amphibious vessels already en route for Syria since Friday and is expected to dock in Tartus in the first 10 days of the new year, Russian news agencies reported. The Tartus base is Russia's only remaining naval station outside the former Soviet Union and is seen as a major strategic asset for Moscow.
The Turkish premier also visited a Syrian refugee camp near the border accompanied by armed opposition National Coalition chief Ahmed Moaz Al Khatib. "I can see it clearly that the help of God is near," Mr Erdogan said. "You have suffered so much but do not despair." Turkey is currently home to almost 150,000 Syrian refugees. It is also the principal rear-base for the rebels. On the ground, at least 63 people were killed in violence yesterday, 40 of them civilians, according to a preliminary toll from the Syrian Observatory for Human Rights. Among seven people killed in an air raid in the central province of Hama were a man, his wife and young daughter, the Britain-based watchdog said.
* Associated Press and Agence France-Presse

Dubai Bling season three

Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed 

Rating: 1/5

TV: World Cup Qualifier 2018 matches will be aired on on OSN Sports HD Cricket channel

David Haye record

Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4

COMPANY PROFILE
Name: Airev
Started: September 2023
Founder: Muhammad Khalid
Based: Abu Dhabi
Sector: Generative AI
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
 
Company%C2%A0profile
%3Cp%3E%3Cstrong%3EDate%20started%3A%20%3C%2Fstrong%3EMay%202022%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3EHusam%20Aboul%20Hosn%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDIFC%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%20%E2%80%94%20Innovation%20Hub%3Cbr%3E%3Cstrong%3EEmployees%3A%20%3C%2Fstrong%3Eeight%3Cbr%3E%3Cstrong%3EStage%3A%20%3C%2Fstrong%3Epre-seed%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3Epre-seed%20funding%20raised%20from%20family%20and%20friends%20earlier%20this%20year%3C%2Fp%3E%0A

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 burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative 

MATCH RESULT

Al Jazira 3 Persepolis 2
Jazira:
Mabkhout (52'), Romarinho (77'), Al Hammadi (90' 6)
Persepolis: Alipour (42'), Mensha (84')

HIJRA

Starring: Lamar Faden, Khairiah Nathmy, Nawaf Al-Dhufairy

Director: Shahad Ameen

Rating: 3/5

EA Sports FC 24

Company profile

Name: Fruitful Day

Founders: Marie-Christine Luijckx, Lyla Dalal AlRawi, Lindsey Fournie

Based: Dubai, UAE

Founded: 2015

Number of employees: 30

Sector: F&B

Funding so far: Dh3 million

Future funding plans: None at present

Future markets: Saudi Arabia, potentially Kuwait and other GCC countries

Company%20profile
%3Cp%3EDate%20started%3A%20January%202022%3Cbr%3EFounders%3A%20Omar%20Abu%20Innab%2C%20Silvia%20Eldawi%2C%20Walid%20Shihabi%3Cbr%3EBased%3A%20Dubai%3Cbr%3ESector%3A%20PropTech%20%2F%20investment%3Cbr%3EEmployees%3A%2040%3Cbr%3EStage%3A%20Seed%3Cbr%3EInvestors%3A%20Multiple%3C%2Fp%3E%0A

First Person
Richard Flanagan
Chatto & Windus 

SPECS
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E4-litre%20flat-six%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E525hp%20(GT3)%2C%20500hp%20(GT4)%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E465Nm%20(GT3)%2C%20450Nm%20(GT4)%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ESeven-speed%20automatic%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh944%2C000%20(GT3)%2C%20Dh581%2C700%20(GT4)%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%0D%3Cbr%3E%3C%2Fp%3E%0A
John%20Wick%3A%20Chapter%204
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Chad%20Stahelski%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Keanu%20Reeves%2C%20Laurence%20Fishburne%2C%20George%20Georgiou%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E4%2F5%3C%2Fp%3E%0A