SANA'A // Yemen's protest movement increased pressure on the government yesterday as hundreds of thousands gathered in the capital and other cities to repeat cries for President Ali Abdullah Saleh to step down.
It required a huge security presence from both sides to keep the massive opposition group apart from tens of thousands of pro-Saleh demonstrators that also flooded the streets of Sana'a. The capital was completely divided along political lines yesterday, according to witnesses, and protest leaders have promised to march to the presidential palace in coming days.
The opposing protests went off without violence except five minor injuries in the port city of Hodiedah where Saleh supporters hurled stones at anti-government protesters.
Dozens were wounded on Thursday evening in the western province of Hajja after armed government supporters and police fired gun shots and tear gas to disperse thousands of protesters, according to local sources.
Many mosques in the capital shut down as worshippers and clerics streamed to the protest site at Al Tagheer Square outside Sana'a University.
In what was dubbed the "Friday of Salvation", protesters also staged marches, sit-ins and rallies in 15 outlying provinces. In the main protest site in Sana'a, demonstrators chanted "Hey, Ali get out", "The people want the end of this regime" and "We want the trial of the mass killer".
In another part of Sana'a, however, tens of thousands pro-regime demonstrators gathered for what they called the "Day of Brotherhood" to express loyalty to Mr Saleh.
State media broadcast live coverage of this rally held at Al Sabeen Square near the presidential palace where security troops and soldiers were deployed heavily with armoured vehicles. Several streets leading to the site were blocked.
In a short televised statement, Mr Saleh said: "I promise to sacrifice my blood and soul for the great Yemeni people."
Yet anti-Saleh protests have continued to gain momentum since Major Gen Ali Mohsen al Ahmar, a former close confidante of Mr Saleh and commander of the 1st Armoured Division, joined the protest movement on March 19.
The defection of Gen Mohsen, which has followed by the resignations of dozens of military chiefs, diplomats, cabinet ministers, party leaders and businessmen, come after a government crackdown after Friday prayers two weeks ago killed at least 53 protesters.
The attack on demonstrators, including sniper fire and live rounds fired by police, was broadly condemned and served to galvanise the then-disparate opposition movement.
Imam Taha al Mutawakil, the cleric who delivered yesterday's sermon to the opposition crowd, told protesters that defiance of Mr Saleh has united all the Yemeni people.
"You have faced their bullets with your bare chests. There is no legitimacy in a constitution written by the Saleh regime or his tanks or support from the West or East. The legitimacy comes from you," Imam al Mutawakil told the massive crowd that prayed together at the sprawling protest site. One witness said the worshippers "stretched for several kilometres".
Troops from the 1st Armoured Division took up positions on rooftops and entry points to the square in an effort to protect the protesters and they prayed and rallied throughout yesterday.
Anti-government leaders have accused Mr Saleh of wasting billions of Yemeni rials to buy the loyalties of his remaining allies and tribal leaders. They claim he has bussed in thousands of rural Yemenis to boost the pro-government demonstrations. In a statement on Thursday, protest leaders urged the Central Bank and other local banks to stop accepting withdrawals of the president and government officials.
The show of strength from both camps comes after talks between Mr Saleh and his opponents on an peaceful transfer of power broke down last week when Mr Saleh insisted that his sons and relatives would retain their key military and security positions should he agree to step down.
In another statement released on Thursday, the protesters criticised the comments of Robert Gates, the US defence secretary, who said that Mr Saleh's removal would pose "a real problem" for US counter-terrorism work in Yemen, which is known to have an active al Qa'eda network. The opposition statement called Mr Gates remarks "a go-ahead sign for him to proceed with committing further crimes against humanity, whose victims are peaceful protesters seeking justice, development, and aspiring for peace and security".
Some sources, however, have suggested that the patience of some Western powers for Mr Saleh is running out.
"The president needs to take concrete steps now to show that he is ready for an orderly transition and an honourable exit," said a Western diplomat who refused to be named.
At the protest camp yesterday, Imam al Mutawakil used his sermon to explain that Mr Saleh's time in power is slipping away.
"We've had 33 years of hunger and crises," the cleric told the crowd.
"No power on earth can bring a leader back to his throne, if he has fallen in the eyes of his people."
malqadhi@thenational.ae
* With additional reporting by Associated Press
Meydan race card
6.30pm: Maiden Dh 165,000 1,600m
7.05pm: Handicap Dh 185,000 2,000m
7.40pm: Maiden Dh 165,000 1,600m
8.15pm: Handicap Dh 190,000 1,400m
8.50pm: Handicap Dh 175,000 1,600m
9.25pm: Handicap Dh 175,000 1,200m
10pm: Handicap Dh 165,000 1,600m
Teri%20Baaton%20Mein%20Aisa%20Uljha%20Jiya
%3Cp%3E%3Cstrong%3EDirectors%3A%3C%2Fstrong%3E%20Amit%20Joshi%20and%20Aradhana%20Sah%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECast%3A%3C%2Fstrong%3E%20Shahid%20Kapoor%2C%20Kriti%20Sanon%2C%20Dharmendra%2C%20Dimple%20Kapadia%2C%20Rakesh%20Bedi%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
Analysis
Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more
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Dubai World Cup Carnival Thursday race card
6.30pm: Dubai Millennium Stakes Group Three US$200,000 (Turf) 2,000m
7.05pm: Handicap $135,000 (T) 1,600m
7.40pm: UAE Oaks Group Three $250,000 (Dirt) 1,900m
8.15pm: Zabeel Mile Group Two $250,000 (T) 1,600m
8.50pm: Meydan Sprint Group Two $250,000 (T) 1,000m
9.25pm: Handicap $135,000 (D) 1,400m
10pm: Handicap $135,000 (T) 1,600m
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
Zimbabwe v UAE, ODI series
All matches at the Harare Sports Club
- 1st ODI, Wednesday, April 10
- 2nd ODI, Friday, April 12
- 3rd ODI, Sunday, April 14
- 4th ODI, Sunday, April 16
Squads:
- UAE: Mohammed Naveed (captain), Rohan Mustafa, Ashfaq Ahmed, Shaiman Anwar, Mohammed Usman, CP Rizwan, Chirag Suri, Mohammed Boota, Ghulam Shabber, Sultan Ahmed, Imran Haider, Amir Hayat, Zahoor Khan, Qadeer Ahmed
- Zimbabwe: Peter Moor (captain), Solomon Mire, Brian Chari, Regis Chakabva, Sean Williams, Timycen Maruma, Sikandar Raza, Donald Tiripano, Kyle Jarvis, Tendai Chatara, Chris Mpofu, Craig Ervine, Brandon Mavuta, Ainsley Ndlovu, Tony Munyonga, Elton Chigumbura
Types of bank fraud
1) Phishing
Fraudsters send an unsolicited email that appears to be from a financial institution or online retailer. The hoax email requests that you provide sensitive information, often by clicking on to a link leading to a fake website.
2) Smishing
The SMS equivalent of phishing. Fraudsters falsify the telephone number through “text spoofing,” so that it appears to be a genuine text from the bank.
3) Vishing
The telephone equivalent of phishing and smishing. Fraudsters may pose as bank staff, police or government officials. They may persuade the consumer to transfer money or divulge personal information.
4) SIM swap
Fraudsters duplicate the SIM of your mobile number without your knowledge or authorisation, allowing them to conduct financial transactions with your bank.
5) Identity theft
Someone illegally obtains your confidential information, through various ways, such as theft of your wallet, bank and utility bill statements, computer intrusion and social networks.
6) Prize scams
Fraudsters claiming to be authorised representatives from well-known organisations (such as Etisalat, du, Dubai Shopping Festival, Expo2020, Lulu Hypermarket etc) contact victims to tell them they have won a cash prize and request them to share confidential banking details to transfer the prize money.
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
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UAE currency: the story behind the money in your pockets
If you go…
Emirates launched a new daily service to Mexico City this week, flying via Barcelona from Dh3,995.
Emirati citizens are among 67 nationalities who do not require a visa to Mexico. Entry is granted on arrival for stays of up to 180 days.
Teaching in coronavirus times
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England v South Africa Test series:
First Test: at Lord's, England won by 211 runs
Second Test: at Trent Bridge, South Africa won by 340 runs
Third Test: at The Oval, July 27-31
Fourth Test: at Old Trafford, August 4-8
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.”
Have you been targeted?
Tuan Phan of SimplyFI.org lists five signs you have been mis-sold to:
1. Your pension fund has been placed inside an offshore insurance wrapper with a hefty upfront commission.
2. The money has been transferred into a structured note. These products have high upfront, recurring commission and should never be in a pension account.
3. You have also been sold investment funds with an upfront initial charge of around 5 per cent. ETFs, for example, have no upfront charges.
4. The adviser charges a 1 per cent charge for managing your assets. They are being paid for doing nothing. They have already claimed massive amounts in hidden upfront commission.
5. Total annual management cost for your pension account is 2 per cent or more, including platform, underlying fund and advice charges.
What went into the film
25 visual effects (VFX) studios
2,150 VFX shots in a film with 2,500 shots
1,000 VFX artists
3,000 technicians
10 Concept artists, 25 3D designers
New sound technology, named 4D SRL
