BEIRUT // Syrian troops bombarded a protesting town with artillery and gunfire yesterday, renewing attacks in an area that has been largely cut off from outside contact for six days.
At least 15 people died in the town of Rastan, bringing the total killed there to 72 since the onslaught began, activists said.
What started as street demonstrations calling for reforms evolved into demands for president Bashar al Assad's removal in the face of the crackdown, especially in Syria's south and centre, where the challenge to his family's 40-year-rule is seen as strongest.
Activists say more than 1,100 people have died during the repression and 10,000 have been detained. But it has not slowed the protests, which take place nearly daily and swell into the thousands each Friday.
A resident of Rastan, a protest stronghold in central Syria, said the town's electricity was cut and it was surrounded by tanks. He said that troops bombed the water supply as well as a mosque and the sports complex.
"We have become refugees in our own country," said the man reached by telephone, who fled his home in the town to escape arrest and was sleeping in the woods.
"My family and sisters are still there, and I don't know how they are doing," he said, speaking on condition of anonymity for fear of reprisals.
He said that army units entered some neighbourhoods on Wednesday evening and were making arrests.
Members of Syria's fragmented opposition met in Turkey yesterday where they called on Mr Assad to step down and vowed to work together to lobby world leaders for a UN Security Council decision calling for his trial.
Mr Assad's government has shown no signs of relenting and got a strong signal of support yesterday from Russia, a close ally. In Washington, the secretary of state Hillary Rodham Clinton appeared to have Russia, China and some Arab countries in mind as she said nations slow to denounce the Syrian crackdown should get on what she called "the right side of history".
The Syrian government on Wednesday freed hundreds of political prisoners in an amnesty and the president set up a committee for national dialogue in an effort to end the 10-week uprising, but concessions have been coupled with deadly attacks on the towns seen as the greatest threat to his power.
Such concessions would have been unimaginable only months ago, but protesters have already rejected the amnesty as too little, too late.
"The one who needs the amnesty is the killer," said Molham Aldrobi, a representative of Syria's outlawed Muslim Brotherhood who attended the conference in Antalya, Turkey.
The Local Coordination Committees, which help organise and document Syria's protests, said a four-year-old girl was among the most recent deaths in the town of Rastan, where a total of 58 have been killed in the past three days. The nearby towns of Talbiseh and Teir Maaleh, which like Rastan have seen persistent protests, have also come under attack.
There were no reports of protests yesterday in Homs, but the Syrian opposition called for nationwide demonstrations today, the Muslim day of prayer, to commemorate the nearly 30 children killed in the uprising.
The images of children, who activists say were killed during government attacks, have been circulating widely among Syrians on YouTube, Facebook and opposition websites, shocking the public and stoking even more fury against a regime the opposition says has lost all legitimacy.
Syria's state-run Tishrin daily criticised the meeting in Turkey, saying those who are participating in the conference only have one thing in common which is "dependence on foreign countries to interfere in Syria's internal affairs, destabilise it and undermine its security".
The Russian foreign minister Sergei Lavrov also issued a warning to protesters, saying that attempts to change Mr al Assad's regime by force will have "catastrophic consequences".
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.”
PROFILE OF STARZPLAY
Date started: 2014
Founders: Maaz Sheikh, Danny Bates
Based: Dubai, UAE
Sector: Entertainment/Streaming Video On Demand
Number of employees: 125
Investors/Investment amount: $125 million. Major investors include Starz/Lionsgate, State Street, SEQ and Delta Partners
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
At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
FIXTURES
Thu Mar 15 – West Indies v Afghanistan, UAE v Scotland
Fri Mar 16 – Ireland v Zimbabwe
Sun Mar 18 – Ireland v Scotland
Mon Mar 19 – West Indies v Zimbabwe
Tue Mar 20 – UAE v Afghanistan
Wed Mar 21 – West Indies v Scotland
Thu Mar 22 – UAE v Zimbabwe
Fri Mar 23 – Ireland v Afghanistan
The top two teams qualify for the World Cup
Classification matches
The top-placed side out of Papua New Guinea, Hong Kong or Nepal will be granted one-day international status. UAE and Scotland have already won ODI status, having qualified for the Super Six.
Thu Mar 15 – Netherlands v Hong Kong, PNG v Nepal
Sat Mar 17 – 7th-8th place playoff, 9th-10th place playoff
A State of Passion
Directors: Carol Mansour and Muna Khalidi
Stars: Dr Ghassan Abu-Sittah
Rating: 4/5
Tuesday's fixtures
Kyrgyzstan v Qatar, 5.45pm
More from Neighbourhood Watch:
Ms Yang's top tips for parents new to the UAE
- Join parent networks
- Look beyond school fees
- Keep an open mind
SPEC%20SHEET%3A%20SAMSUNG%20GALAXY%20Z%20FLIP5
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WHAT IS A BLACK HOLE?
1. Black holes are objects whose gravity is so strong not even light can escape their pull
2. They can be created when massive stars collapse under their own weight
3. Large black holes can also be formed when smaller ones collide and merge
4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
The%20Kitchen
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The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now
The%20specs
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FA Cup quarter-final draw
The matches will be played across the weekend of 21 and 22 March
Sheffield United v Arsenal
Newcastle v Manchester City
Norwich v Derby/Manchester United
Leicester City v Chelsea
UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)