Smoke rises above buildings after aerial bombardments during clashes last month in Khartoum. Reuters
Smoke rises above buildings after aerial bombardments during clashes last month in Khartoum. Reuters
Smoke rises above buildings after aerial bombardments during clashes last month in Khartoum. Reuters
Smoke rises above buildings after aerial bombardments during clashes last month in Khartoum. Reuters

Sudan's warring factions not taking advantage of talks to achieve agreed truce, US says


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Sudan's warring factions are not taking advantage of talks initiated by the US and Saudi Arabia meant to yield a permanent ceasefire as they originally agreed, a senior State Department official said on Tuesday.

Washington is consulting with Riyadh and others in the Arab world and Africa about a path forward and hoped to announce a recommended approach in the next few days, the official, who spoke on condition of anonymity, told reporters.

“We think we've given them every shot. We've given them this venue to try and come together and try and find a way forward that doesn't involve achieving an outcome that's based on violence or military dominance,” the official said.

“They are clearly not taking advantage of the format that we've given them. It's not succeeding in the way they had originally agreed in terms of this step-by-step process to reach a permanent cessation of hostilities.”

The war between Sudan's regular army and the paramilitary Rapid Support Forces began in mid April. It has forced almost two million people to flee and wrecked the economy.

The talks in the Saudi Red Sea city of Jeddah have failed to permanently end fighting and clashes intensified as soon as a ceasefire ended on Sunday. The army refused to extend that 24-hour ceasefire, the US official said.

Air strikes, artillery fire and gunfire erupted in the capital Khartoum and adjoining cities Bahri and Omdurman, killing civilians.

The violence continued in some areas of Khartoum on Monday, while some residents reported relative calm. The fighting has trapped civilians in a worsening humanitarian crisis in which people are frequently without electricity and water.

At least 866 people have been killed and more than 6,000 injured in the fighting, the UN said on Thursday, citing government statistics.

A second senior State Department official told reporters there was a “dawning realisation” among the warring parties that there was no acceptable military solution.

This had not yet translated, however, into willingness to take tangible steps to lock in a longer ceasefire and a broader permanent cessation of hostilities, the official said.

The second official said the warring parties had not received much external support yet, despite concerns that the conflict would attract the interference of foreign actors. The official added that work was being done to keep it that way.

“I think their previous partners are somewhat shocked. Everyone is shocked – like no one can believe that one would behave in such a suicidal manner. And they're concerned about the impact on their country and their region,” the first official said.

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.”

FIGHT INFO

Men’s 60kg Round 1:

Ahmad Shuja Jamal (AFG) beat Krisada Takhiankliang (THA) - points 
Hyan Aljmyah (SYR) beat Akram Alyminee (YEM) - retired Round 1
Ibrahim Bilal (UAE) beat Bhanu Pratap Pandit (IND) - TKO Round 1

Men’s 71kg Round 1:
Seyed Kaveh Soleyman (IRI) beat Abedel Rahman (JOR) - RSC round 3.
Amine Al Moatassime (UAE) walk over Ritiz Puri (NEP)

Other acts on the Jazz Garden bill

Sharrie Williams
The American singer is hugely respected in blues circles due to her passionate vocals and songwriting. Born and raised in Michigan, Williams began recording and touring as a teenage gospel singer. Her career took off with the blues band The Wiseguys. Such was the acclaim of their live shows that they toured throughout Europe and in Africa. As a solo artist, Williams has also collaborated with the likes of the late Dizzy Gillespie, Van Morrison and Mavis Staples.
Lin Rountree
An accomplished smooth jazz artist who blends his chilled approach with R‘n’B. Trained at the Duke Ellington School of the Arts in Washington, DC, Rountree formed his own band in 2004. He has also recorded with the likes of Kem, Dwele and Conya Doss. He comes to Dubai on the back of his new single Pass The Groove, from his forthcoming 2018 album Stronger Still, which may follow his five previous solo albums in cracking the top 10 of the US jazz charts.
Anita Williams
Dubai-based singer Anita Williams will open the night with a set of covers and swing, jazz and blues standards that made her an in-demand singer across the emirate. The Irish singer has been performing in Dubai since 2008 at venues such as MusicHall and Voda Bar. Her Jazz Garden appearance is career highlight as she will use the event to perform the original song Big Blue Eyes, the single from her debut solo album, due for release soon.

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

Profile of RentSher

Started: October 2015 in India, November 2016 in UAE

Founders: Harsh Dhand; Vaibhav and Purvashi Doshi

Based: Bangalore, India and Dubai, UAE

Sector: Online rental marketplace

Size: 40 employees

Investment: $2 million

Updated: June 13, 2023, 8:00 PM