KABUL // Gunfire and explosions rocked Kabul on Thursday as Taliban militants attacked a central district that houses several embassies and foreign compounds, hours after a suicide bomber targeted a British embassy vehicle that killed six people.
Attacks across Kabul have increased in recent weeks as US-led Nato forces prepare to wrap up their 13-year combat mission against Taliban insurgents at the end of this year.
Fears are growing that Afghanistan could tip into a cycle of violence as the Nato military presence declines, with the national security forces already suffering high battlefield casualties.
Sporadic gunfire and grenade blasts erupted for at least 45 minutes in the Afghan capital on Thursday evening, though the target was not confirmed.
The attack came hours after a suicide bomber rammed his explosives-packed car into a British embassy vehicle in Kabul, killing one Briton and five Afghans.
The Taliban used a recognised Twitter account to say they were behind both attacks.
At least eight blasts have hit Kabul over the last 10 days, including attacks on foreign compounds and on a female Afghan member of parliament who was injured in a suicide bombing that targeted her car.
Afghanistan suffered its deadliest attack of 2014 on Sunday when a suicide bomber struck at a volleyball match in the eastern province of Paktika, killing 57 people.
About 12,500 foreign troops are set to stay on into 2015 after the Nato combat mission ends, to train and support the Afghan army and police.
A British security contractor and an Afghan employee of the British embassy died in the blast on Thursday, which hit their vehicle on a stretch of road notorious for suicide attacks.
At least four Afghan bystanders were also killed, and more than 30 others injured including five children.
Zarif Khan, a shopkeeper, said: “I was selling groceries when I heard this big bang, and then I saw injured people and pieces of metal all around me.”
British foreign secretary Philip Hammond condemned the attack on the embassy vehicle as “senseless and cowardly”.
“It reminds us once again of the risks our personnel take every day to keep trying to help Afghans build a better future – and by helping them do so, protect our own security and own interests,” he said at a press conference in Rome.
A second British contractor with security firm G4S was injured in the bombing, which threw the embassy’s 4x4 vehicle onto its side.
The roof was blown off and car parts scattered across the Jalalabad road, a main route where many fortified compounds and military facilities are located.
President Ashraf Ghani, who came to power in September, has vowed to bring peace to Afghanistan after decades of conflict, saying he is open to talks with the Taliban, who ruled Kabul from 1996 to 2001.
Mr Ghani finally emerged as president after signing a power-sharing deal with his poll rival Abdullah Abdullah.
Both men claimed to have won fraud-tainted elections in a prolonged stand-off that caused political paralysis in Kabul and fuelled worsening violence nationwide.
The UK hosts a major donor conference on Afghanistan next week, which was meant to showcase Mr Ghani’s “national unity government” and demonstrate continuing international support for the country.
Just this week, Britain ended its 13-year military presence in southern Afghanistan when the last Royal Air Force personnel departed Kandahar airfield.
The British military contribution next year will be the supervision of an officers’ training academy outside Kabul.
* Agence France-Presse
Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Profile of Udrive
Date started: March 2016
Founder: Hasib Khan
Based: Dubai
Employees: 40
Amount raised (to date): $3.25m – $750,000 seed funding in 2017 and a Seed round of $2.5m last year. Raised $1.3m from Eureeca investors in January 2021 as part of a Series A round with a $5m target.
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UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
RESULT
Manchester United 1 Brighton and Hove Albion 0
Man United: Dunk (66' og)
Man of the Match: Shane Duffy (Brighton)
SPECS
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The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
Wonka
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
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The Great Derangement: Climate Change and the Unthinkable
Amitav Ghosh, University of Chicago Press
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 bio
Favourite book: Kane and Abel by Jeffrey Archer
Favourite quote: “The world makes way for the man who knows where he is going.” - Ralph Waldo Emerson, American essayist
Favourite Authors: Arab poet Abu At-Tayyib Al-Mutanabbi
Favourite Emirati food: Luqaimat, a deep-fried dough soaked in date syrup
Hobbies: Reading and drawing