Prominent cleric and Nato soldiers killed in Afghanistan



Militants shot and killed a prominent Muslim cleric who had called for peace in insurgency-wracked Afghanistan along with two members of his family, officials said today, the latest in a string of killings targeting figures perceived as pro-government. Two Italian soldiers were also killed and two others were seriously injured in a separate attack today when a bomb hit a Nato military convoy in north-western Afghanistan, Italy's foreign ministry told AFP. The cleric Rahman Gul, his brother and a relative were gunned down in an ambush yesterday while returning to their homes in the Chapa Dara district of Kunar province, the Interior Ministry and provincial police chief Gen. Khalilullah Zaiyie said. In recent days, Mr Gul, the chief of the district clerical council, had stressed the importance of "peace and stability" across Afghanistan. No one claimed responsibility, but the Taliban insurgents are known to target those who oppose their extreme, militant interpretation of Islam. The shooting capped a weekend of roadside bombings, assassination, militant attacks and suicide blasts across the country as part of an expected springtime spike in insurgent violence in the war-battered country. The four Nato soldiers were in a vehicle that was struck by a roadside bomb, the weapon of choice of Taliban-led insurgents fighting the Western-backed Afghan government and around 130,000 US-led foreign troops in the country. Italy's prime minister Silvio Berlusconi expressed his condolences for the deaths but underscored his commitment to keeping troops in Afghanistan. "The mission in Afghanistan to stabilise and pacify a strategic region is of fundamental importance" he said in a statement. The injuries of the two soldiers were apparently not life-threatening. The attack was about 25 kilometres south of the town of Bala Murghab on the border with Turkmenistan, a spokesman for the Italian contingent in Afghanistan said in a television interview. Italy has 3,300 troops in Afghanistan as part of Nato's International Security Assistance Force and heads the western regional command headquartered in the city of Herat. The deaths brought to 200 the number of foreign troops to die this year in the Afghan war, according to an AFP tally based on that kept by the independent icasualties.org website. A total of 520 died in 2009. Twenty-three Italian soldiers and one diplomat have died since the beginning of the mission. The Taliban were removed from government in Afghanistan a US-led invasion in 2001. * AFP and AP

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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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Get inspired

Here are a couple of Valentine’s Day food products that may or may not go the distance (but have got the internet talking anyway).

Sourdough sentiments: Marks & Spencer in the United Kingdom has introduced a slow-baked sourdough loaf dusted with flour to spell out I (heart) you, at £2 (Dh9.5). While it’s not available in the UAE, there’s nothing to stop you taking the idea and creating your own message of love, stencilled on breakfast-inbed toast.  

Crisps playing cupid: Crisp company Tyrells has added a spicy addition to its range for Valentine’s Day. The brand describes the new honey and chilli flavour on Twitter as: “A tenderly bracing duo of the tantalising tingle of chilli with sweet and sticky honey. A helping hand to get your heart racing.” Again, not on sale here, but if you’re tempted you could certainly fashion your own flavour mix (spicy Cheetos and caramel popcorn, anyone?). 

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Sustainable Development Goals

1. End poverty in all its forms everywhere

2. End hunger, achieve food security and improved nutrition and promote sustainable agriculture

3. Ensure healthy lives and promote well-being for all at all ages

4. Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all

5. Achieve gender equality and empower all women and girls

6. Ensure availability and sustainable management of water and sanitation for all

7. Ensure access to affordable, reliable, sustainable and modern energy for all

8. Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all

9. Build resilient infrastructure, promote inclusive and sustainable industrialisation and foster innovation

10. Reduce inequality  within and among countries

11. Make cities and human settlements inclusive, safe, resilient and sustainable

12. Ensure sustainable consumption and production patterns

13. Take urgent action to combat climate change and its effects

14. Conserve and sustainably use the oceans, seas and marine resources for sustainable development

15. Protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reverse land degradation and halt biodiversity loss

16. Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels

17. Strengthen the means of implementation and revitalise the global partnership for sustainable development

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Match is on BeIN Sports

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