US soldiers guard an armoured military vehicle on the outskirts of Rumaylan in Syria's north-eastern Hasakeh province last month. AFP
US soldiers guard an armoured military vehicle on the outskirts of Rumaylan in Syria's north-eastern Hasakeh province last month. AFP
US soldiers guard an armoured military vehicle on the outskirts of Rumaylan in Syria's north-eastern Hasakeh province last month. AFP
US soldiers guard an armoured military vehicle on the outskirts of Rumaylan in Syria's north-eastern Hasakeh province last month. AFP

Failed rocket attack on US coalition forces in Syria, says Central Command


Ellie Sennett
  • English
  • Arabic

An "ineffective" rocket attack on Monday was launched on US coalition forces taking part in the anti-ISIS mission in north-east Syria, US Central Command has said.

The attack was aimed at the US Mission Support Site Conoco in the early evening local time, and resulted in "no injuries or damage" to the base.

"One rocket struck in the vicinity of the coalition outpost and an additional rocket was found at the attack's point of origin," a Centcom statement said.

Centcom spokesman Col Joe Buccino told The National: "These attacks, along with the ISIS strike, make clear that the region remains dangerous and we have troops in harm’s way, but we must continue the fight against ISIS.

"These attacks place coalition forces and the civilian populace at risk and undermine the hard-earned stability of Syria and the region."

US-Iran tensions have escalated in Syria. Last month, a drone attack killed an American contractor at a US base in Hasakah governorate.

The killing drew US air strikes on Iranian-aligned militia in the nearby governorate of Deir Ezzor, sparking more retaliation.

American troops have been in Syria since 2015, in a counter-terrorism mission aimed at countering Iranian-backed militias and preventing the resurgence of ISIS, in partnership with the Kurdish-led Syrian Democratic Forces.

Despite being defeated in Syria in 2019, the terrorist group continues to wage a low-level insurgency across northern Iraq and Syria, and often attacks members of the SDF.

Last week, a US strike killed senior ISIS leader Khalid Aydd Ahmad Al Jabouri in Syria's north-west region.

Col Buccino did not confirm if Monday's attempted strike is related to the escalation with Iran, but told The National that Centcom did not believe it "is a retaliation for the ISIS leader or that this is in any way tied to the strike against ISIS".

The Defence Department recently had to defend the presence of about 900 US forces there to Congress, after far-right Representative Matt Gaetz introduced a war powers resolution to withdraw troops from the country.

Centcom chief Gen Michael Kurilla told the House armed services committee last month that ISIS would return to power in "one to two years" should Washington withdraw from its mission in Syria.

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Tank warfare

Lt Gen Erik Petersen, deputy chief of programs, US Army, has argued it took a “three decade holiday” on modernising tanks. 

“There clearly remains a significant armoured heavy ground manoeuvre threat in this world and maintaining a world class armoured force is absolutely vital,” the general said in London last week.

“We are developing next generation capabilities to compete with and deter adversaries to prevent opportunism or miscalculation, and, if necessary, defeat any foe decisively.”

MATCH INFO

Liverpool 2 (Van Dijk 18', 24')

Brighton 1 (Dunk 79')

Red card: Alisson (Liverpool)

Gifts exchanged
  • King Charles - replica of President Eisenhower Sword
  • Queen Camilla -  Tiffany & Co vintage 18-carat gold, diamond and ruby flower brooch
  • Donald Trump - hand-bound leather book with Declaration of Independence
  • Melania Trump - personalised Anya Hindmarch handbag

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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The specs

Engine: 4.0-litre V8

Power: 503hp at 6,000rpm

Torque: 685Nm at 2,000rpm

Transmission: 8-speed auto

Price: from Dh850,000

On sale: now

UAE currency: the story behind the money in your pockets
The specs: 2018 Nissan Altima


Price, base / as tested: Dh78,000 / Dh97,650

Engine: 2.5-litre in-line four-cylinder

Power: 182hp @ 6,000rpm

Torque: 244Nm @ 4,000rpm

Transmission: Continuously variable tranmission

Fuel consumption, combined: 7.6L / 100km

Updated: April 10, 2023, 10:18 PM