Canada on Thursday ended its airlift mission in Afghanistan after flying out more than 3,700 citizens and Afghans who worked alongside Canadian forces during the war, but Ottawa acknowledged that many people had been left behind.
"This is a very difficult day, not just for Afghans, but for people around the world, including in Canada who have long been deeply committed to the Afghan people and a better future for Afghanistan," Prime Minister Justin Trudeau said.
"We all understand that the speed with which the Taliban took over Kabul rendered this an extraordinarily difficult situation for our allies, for Canadians and especially for Afghans.
General Wayne Eyre, acting chief of the Defence Staff of Canada, said many Afghans who fought alongside Canadian soldiers during Canada's 12 years in Afghanistan would remain.
“We wish we could have stayed longer and rescued everyone who was so desperate to leave,” he said.
One of those who made it out, arriving in Canada on Tuesday, is Rozina, an Afghan-Canadian woman who described her harrowing journey to The National.
She said she spent more than 50 hours wading through sewage and enduring cramped and unsanitary conditions outside of Hamid Karzai International Airport as she sought to get on an evacuation flight.
“I was so frightened, I was so lonely and I missed Canada,” said Rozina, who had been visiting her husband in Kabul when the Taliban took power.
She asked to be referred to only by her first name to protect her husband and other family still in Afghanistan.
The mother of two went without food or sleep for more than two days, but it was the thought of returning to Canada to see her children that kept her going.
“I was so strong. I was keeping myself strong, even with the empty stomach, I still had energy,” she recounted. “Slowly, slowly we pushed and pushed until we went to the front of the gate.”
Her days-long journey ended when she touched down at Toronto’s Pearson International Airport.
“I was very, very, very excited and safe,” she said.
The Canadian government has come under scrutiny for its handling of the situation. Once the Taliban took Kabul, Canada pulled all of its diplomatic staff out of the country, sending only a small team of diplomats and soldiers back to the country on August 19.
“Canada has failed,” said Jagmeet Singh, the leader of the New Democratic Party who is currently running for prime minister. “Justin Trudeau really dropped the ball on this.”
Rozina said she was grateful to the Canadian soldiers who helped bring her out but wishes they could have done more.
“I wish the government could help [the Afghans] a little bit more, because they are so desperate.," she said.
“I was the lucky one.”
Business Insights
- As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
- SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
- Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
The specs
Engine: 3.0-litre six-cylinder MHEV
Power: 360bhp
Torque: 500Nm
Transmission: eight-speed automatic
Price: from Dh282,870
On sale: now
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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Company%20Profile
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Cricket World Cup League 2
UAE squad
Rahul Chopra (captain), Aayan Afzal Khan, Ali Naseer, Aryansh Sharma, Basil Hameed, Dhruv Parashar, Junaid Siddique, Muhammad Farooq, Muhammad Jawadullah, Muhammad Waseem, Omid Rahman, Rahul Bhatia, Tanish Suri, Vishnu Sukumaran, Vriitya Aravind
Fixtures
Friday, November 1 – Oman v UAE
Sunday, November 3 – UAE v Netherlands
Thursday, November 7 – UAE v Oman
Saturday, November 9 – Netherlands v UAE
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Mission%3A%20Impossible%20-%20Dead%20Reckoning%20Part%20One
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Avatar%20(2009)
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EJames%20Cameron%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3ESam%20Worthington%2C%20Zoe%20Saldana%2C%20Sigourney%20Weaver%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E3%2F5%3C%2Fp%3E%0A
BEETLEJUICE BEETLEJUICE
Starring: Winona Ryder, Michael Keaton, Jenny Ortega
Director: Tim Burton
Rating: 3/5