Dry conditions in the Middle East and North Africa are believed to be worsening due to climate change. AFP
Dry conditions in the Middle East and North Africa are believed to be worsening due to climate change. AFP
Dry conditions in the Middle East and North Africa are believed to be worsening due to climate change. AFP
Dry conditions in the Middle East and North Africa are believed to be worsening due to climate change. AFP

Middle East feels effects of 'erratic' water cycle


Tim Stickings
  • English
  • Arabic

The Middle East and North Africa are sensing the effects of an "increasingly unpredictable" global water cycle as the region's rivers and soil dry up, weather forecasters have warned.

An erratic water cycle giving rise to both hot and dry conditions and extreme rainfall such as last year's deadly flooding in Libya is a sign of what is to come due to climate change, the World Meteorological Organisation said in an annual report published on Monday.

It said reservoirs in the Middle East were taking in abnormally small amounts of water, while the region's soil moisture was "much below normal" and North Africa had a "significant rainfall deficit". Jordan was singled out as lacking groundwater due to long-term overexploitation.

The flooding in Libya last September was made more deadly than that on Europe's Mediterranean shores by a lack of early warning systems and preparedness, said WMO expert Stefan Uhlenbrook. He said high ocean temperatures had fuelled the flooding at a time of year when "normally it should never rain at all in Libya".

"It's both extremes that hurt society," Mr Uhlenbrook said, referring to floods and droughts, "particularly where the capacity is low to deal with these challenges, like in many parts of Africa [and] the Middle East." He described Jordan as "one of the most water-scarce countries" due to its high population density.

The city of Derna on the coast of Libya was underprepared for deadly flash floods that struck last autumn, according to meteorologists. AFP
The city of Derna on the coast of Libya was underprepared for deadly flash floods that struck last autumn, according to meteorologists. AFP

The WMO, whose president is UAE meteorologist Dr Abdulla Al Mandous, estimates that 3.6 billion people around the world do not have enough access to water for at least one month a year. That number is forecast to rise to more than five billion by 2050.

It is estimated that as many as 250 million people in the Middle East and North Africa lack safe drinking water, according to a separate August study which suggests the scale of the health and poverty problem worldwide could be twice as bad as feared.

“Water is the canary in the coal mine of climate change," said the WMO's secretary general, Celeste Saulo. "We receive distress signals in the form of increasingly extreme rainfall, floods and droughts which wreak a heavy toll on lives, ecosystems and economies.

“As a result of rising temperatures, the hydrological cycle has accelerated. It has also become more erratic and unpredictable, and we are facing growing problems of either too much or too little water. A warmer atmosphere holds more moisture which is conducive to heavy rainfall. More rapid evaporation and drying of soils worsen drought conditions."

The world's water problems in 2023 were fuelled by the hottest global temperatures on record and the worst glacier melting in 50 years, according to scientific data. Switzerland's Alpine glaciers have lost about 10 per cent of their remaining volume over the past two years, it is believed.

Around the world only 40 per cent of reservoirs took in a "normal" amount of water. About 43 per cent were short of water, including those in the Middle East and Central Asia, according to the WMO. About one in six were fuller than usual, including in Scandinavia and South Africa.

For parts of the year water evaporation was "much above normal" in the Arabian peninsula and some of Eastern Europe. North Africa and the Middle East endured "much below normal" soil moisture levels during the summer months.

The studios taking part (so far)
  1. Punch
  2. Vogue Fitness 
  3. Sweat
  4. Bodytree Studio
  5. The Hot House
  6. The Room
  7. Inspire Sports (Ladies Only)
  8. Cryo
So what is Spicy Chickenjoy?

Just as McDonald’s has the Big Mac, Jollibee has Spicy Chickenjoy – a piece of fried chicken that’s crispy and spicy on the outside and comes with a side of spaghetti, all covered in tomato sauce and topped with sausage slices and ground beef. It sounds like a recipe that a child would come up with, but perhaps that’s the point – a flavourbomb combination of cheap comfort foods. Chickenjoy is Jollibee’s best-selling product in every country in which it has a presence.
 

The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

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.”

UAE currency: the story behind the money in your pockets
Labour dispute

The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.


- Abdullah Ishnaneh, Partner, BSA Law 

How to watch Ireland v Pakistan in UAE

When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.

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Directed by: Ashwiny Iyer Tiwari
Starring: Kriti Sanon, Ayushmann Khurrana, Rajkummar Rao
Three and a half stars

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Transmission: CVT auto

Power: 181bhp

Torque: 244Nm

Price: Dh122,900 

Engine: 80 kWh four-wheel-drive

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Monterrey 1 

Funes Mori (14)

Liverpool 2

Keita (11), Firmino (90 1)

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The biog

Favourite films: Casablanca and Lawrence of Arabia

Favourite books: Start with Why by Simon Sinek and Good to be Great by Jim Collins

Favourite dish: Grilled fish

Inspiration: Sheikh Zayed's visionary leadership taught me to embrace new challenges.

Updated: October 07, 2024, 3:29 PM