Three-year-old boy among hundreds of migrants rescued off Libyan coast


Jamie Prentis
  • English
  • Arabic

A three-year-old boy was one of hundreds of migrants rescued off Libya's coast by a Spanish-flagged ship belonging to an NGO.

Another 79 were stopped by the Libyan coastguard and returned to North Africa, while eight migrants were reported lost at sea.

"While IOM staff were on-site to provide assistance, we reiterate that no one should be returned to Libya," said the UN's International Organisation for Migration in Libya.

Proactive Open Arms, the Spanish NGO that rescued some of the migrants, said many of them were not wearing life jackets on the flimsy, overcrowded boats.

Open Arms said that of the 96 rescued on Saturday, there were two children and 17 minors, and most were from Eritrea. The NGO is looking for a safe port for the ship to dock.

Last year, about 12,000 migrants were rescued at sea and returned to Libya. More than 300 died on the central Mediterranean route to Europe and at least 400 were missing.

Amnesty International said migrants from Libya were trapped in a "vicious cycle of cruelty" where they can be abused or killed in formal and informal detention centres.

The European Union has been criticised for often leaving the responsibility for rescuing migrants to Libya's coastguard. Some members of the service have been accused of human rights violations.

What is an ETF?

An exchange traded fund is a type of investment fund that can be traded quickly and easily, just like stocks and shares. They come with no upfront costs aside from your brokerage's dealing charges and annual fees, which are far lower than on traditional mutual investment funds. Charges are as low as 0.03 per cent on one of the very cheapest (and most popular), Vanguard S&P 500 ETF, with the maximum around 0.75 per cent.

There is no fund manager deciding which stocks and other assets to invest in, instead they passively track their chosen index, country, region or commodity, regardless of whether it goes up or down.

The first ETF was launched as recently as 1993, but the sector boasted $5.78 billion in assets under management at the end of September as inflows hit record highs, according to the latest figures from ETFGI, a leading independent research and consultancy firm.

There are thousands to choose from, with the five largest providers BlackRock’s iShares, Vanguard, State Street Global Advisers, Deutsche Bank X-trackers and Invesco PowerShares.

While the best-known track major indices such as MSCI World, the S&P 500 and FTSE 100, you can also invest in specific countries or regions, large, medium or small companies, government bonds, gold, crude oil, cocoa, water, carbon, cattle, corn futures, currency shifts or even a stock market crash. 

UAE Rugby finals day

Games being played at The Sevens, Dubai

2pm, UAE Conference final

Dubai Tigers v Al Ain Amblers

4pm, UAE Premiership final

Abu Dhabi Harlequins v Jebel Ali Dragons

COMPANY PROFILE
Company name: BorrowMe (BorrowMe.com)

Date started: August 2021

Founder: Nour Sabri

Based: Dubai, UAE

Sector: E-commerce / Marketplace

Size: Two employees

Funding stage: Seed investment

Initial investment: $200,000

Investors: Amr Manaa (director, PwC Middle East)