DAMASCUS // Syrian rebels claimed responsibility for the assassination of an air force general on Monday.
State television yesterday confirmed “terrorists assassinated Gen Abdullah Mahmoud Al Khalidi in Rukn Al Din”. No further details were given but a security source said the general was shot dead on Monday evening as he left a friend’s home in north Damascus. He was in charge of training the air force, according to the Free Syrian Army (FSA) posting on Facebook.
The father of four was considered one of Syria’s foremost experts in aviation.
President Bashar Al Assad's regime retaliated with air power against rebels across the country and it has intensified air strikes against rebel-held areas in recent days, with more than 60 raids on Monday, the most in a single day so far, said the Syrian Observatory for Human Rights.
It was the first time fighter jets hit targets inside Damascus, the watchdog said. Only helicopter gunships had previously been used to strafe inside the capital.
Activists from the Local Coordination Committees (LCC) and the Observatory reported air raids on several suburbs of Damascus, including the areas of Arbeen, Zamalka and Douma. The warplane dropped four bombs on the east Damascus neighbourhood of Jobar, near the opposition-held suburb of Zamalka, where rebel fighters were locked in clashes with the army, the Observatory said.
Warplanes also hit a strategic northern city yesterday as ground troops pushed forward in an intensified effort to recapture the area recently taken by rebels, activists said.
The air strikes targeted Maarat Al Numan, located on the motorway connecting Syria’s two main cities, Aleppo and Damascus. It was captured by rebels on October 10 and in the weeks since, the regime has subjected the city and the area to heavy air bombardments.
The rebel hold on Maarat Al Numan has disrupted the regime’s ability to send supplies and reinforcements to Aleppo, where government forces have been bogged down since July in a bloody fight for control of Syria’s largest city. Rebel advances over the past week in Aleppo have added urgency to opening the route.
“The regime wants to recapture Maarat Al Numan because it links Damascus with Aleppo,” said Rami Abdul-Rahman, the head of the Syrian Observatory.
In yesterday’s air raids on Maarat Al Numan, the Observatory said four people, three of them girls, were killed. The LCC put the death toll from the air strikes and ground fighting at 19.
Syrian troops and rebels clashed in the Palestinian refugee camp of Yarmouk, activists said. The LCC and the Observatory said the fighting broke out overnight, but they had no word on casualties.
Palestinian refugees in Syria tried to stay on the sidelines when the uprising began. But many Palestinian youths have joined the fight as they became angered by the mounting violence.
The Turkish foreign minister, Ahmet Davutoglu, expressed “great sadness” yesterday that the Eid Al Adha ceasefire did not hold.
He said Turkey, once a strong ally of Mr Al Assad, would not engage in dialogue with the Syrian government.
In an interview with Al Jazeera, the Qatari prime minister, Sheikh Hamad bin Jassem Al Thani, accused Mr Assad’s regime, with the complicity of the international community, of waging a “war of extermination” against Syrian people.
Jordanian police yesterday were detaining 61 Syrians who were travelling in three lorries near the southern town of Maan, a statement said, but it did not elaborate.
* With additional reporting by Associated Press and Reuters
The smuggler
Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple.
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.
Khouli conviction
Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.
For sale
A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.
- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico
- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000
- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
F1 2020 calendar
March 15 - Australia, Melbourne; March 22 - Bahrain, Sakhir; April 5 - Vietnam, Hanoi; April 19 - China, Shanghai; May 3 - Netherlands, Zandvoort; May 20 - Spain, Barcelona; May 24 - Monaco, Monaco; June 7 - Azerbaijan, Baku; June 14 - Canada, Montreal; June 28 - France, Le Castellet; July 5 - Austria, Spielberg; July 19 - Great Britain, Silverstone; August 2 - Hungary, Budapest; August 30 - Belgium, Spa; September 6 - Italy, Monza; September 20 - Singapore, Singapore; September 27 - Russia, Sochi; October 11 - Japan, Suzuka; October 25 - United States, Austin; November 1 - Mexico City, Mexico City; November 15 - Brazil, Sao Paulo; November 29 - Abu Dhabi, Abu Dhabi.
THREE
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Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
Monster Hunter: World
Capcom
PlayStation 4, Xbox One
UAE%20medallists%20at%20Asian%20Games%202023
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
COMPANY%20PROFILE
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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.”