Afghan security officials stand guard at a check point in Kandahar, Afghanistan. Muhammad Sadiq / EPA
Afghan security officials stand guard at a check point in Kandahar, Afghanistan. Muhammad Sadiq / EPA

US soldier killed in 'apparent insider attack' in Afghanistan: NATO



A US soldier was killed and two others wounded in an "apparent insider attack" in southern Afghanistan on Saturday, NATO said.

The so-called "green-on-blue" attack is the latest in a line of incidents where Afghan soldiers have turned their weapons on international forces they are working with.

"The wounded service members, who are in stable condition, are currently being treated," NATO's Resolute Support mission in Afghanistan said in a statement.

"The incident is under investigation."

NATO did not release the identity of the American soldier killed or provide further details about the incident.

The shooting happened at the airport in Tarinkot, the capital of Uruzgan province, a local police officer told AFP.

That information could not be immediately verified by Afghan or NATO officials.

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The Taliban said on Twitter that "a patriot Afghan soldier opened fire on Americans in Uruzgan airport killing and wounding at least four American invaders".

Currently, there are about 14,000 US troops in Afghanistan, providing the main component of the NATO mission there to support and train local forces.

Some of the US forces are involved in counterterrorism operations, particularly against the local Islamic State group.

American casualties have fallen dramatically since the withdrawal of US-led NATO combat troops at the end of 2014.

On New Year's Day a US soldier was killed and four others wounded in combat operations in the eastern province of Nangarhar.

Western officials say most insider attacks stem from personal grudges and cultural misunderstandings rather than insurgent plots.

The latest incident comes as LieutenantGeneral Scott Miller is set to become the next commander of US and NATO forces in Afghanistan.

He will take over from General John Nicholson, who is rotating out of his post after a two-year deployment.

Miller's deployment to Afghanistan, which would see him promoted to four-star general, comes at a time when local security forces are still struggling to contain a resurgent Taliban.

IS is also maintaining its eastern and northern footholds despite an intensified aerial bombing campaign by Afghan and US forces.

Score

New Zealand 266 for 9 in 50 overs
Pakistan 219 all out in 47.2 overs 

New Zealand win by 47 runs

New Zealand lead three-match ODI series 1-0

Next match: Zayed Cricket Stadium, Abu Dhabi, Friday

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THE SPECS

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Ms Yang's top tips for parents new to the UAE
  1. Join parent networks
  2. Look beyond school fees
  3. Keep an open mind

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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Skewed figures

In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458. 

FIGHT CARD

Bantamweight Hamza Bougamza (MAR) v Jalal Al Daaja (JOR)

Catchweight 67kg Mohamed El Mesbahi (MAR) v Fouad Mesdari (ALG)

Lighweight Abdullah Mohammed Ali (UAE) v Abdelhak Amhidra (MAR)

Catchweight 73kg Mostafa Ibrahim Radi (PAL) v Yazid Chouchane (ALG)

Middleweight Yousri Belgaroui (TUN) v Badreddine Diani (MAR)

Catchweight 78kg Rashed Dawood (UAE) v Adnan Bushashy (ALG)

Middleweight Sallaheddine Dekhissi (MAR) v Abdel Emam (EGY)

Catchweight 65kg Rachid Hazoume (MAR) v Yanis Ghemmouri (ALG)

Lighweight Mohammed Yahya (UAE) v Azouz Anwar (EGY)

Catchweight 79kg Omar Hussein (PAL) v Souhil Tahiri (ALG)

Middleweight Tarek Suleiman (SYR) v Laid Zerhouni (ALG)

Tuesday's fixtures
Group A
Kyrgyzstan v Qatar, 5.45pm
Iran v Uzbekistan, 8pm
N Korea v UAE, 10.15pm

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