UAE urges co-ordinated aid



NEW YORK // The Government has called on aid donors to improve the co-ordination of humanitarian assistance with the UN when bailing out nations ravaged by war and natural disasters. Anwar al Barout, chargé d'affaires of the UAE's mission to the UN, called for a "doubling of efforts" in providing and organising aid shipments during a debate at the world body's headquarters.

The envoy said the growing frequency of natural disasters was leaving ever-greater numbers of people needing emergency relief in the aftermath of floods, typhoons and earthquakes. As he addressed delegates in midtown Manhattan, UN aid chiefs were appealing for US$11.5 million (Dh42.24m) to provide urgently needed assistance to the 650,000 people affected by recent severe flooding in Yemen. "The UAE emphasises and commends the essential role of the UN and its valuable efforts in mobilising and co-ordinating international efforts to provide humanitarian emergency relief assistance to millions of people in affected areas," Mr Barout said on Tuesday.

"We recognise that partnership and co-operation with the international organisation is the most effective way to achieve the best outcomes of humanitarian activities around the world." The diplomat noted the recent creation of the UAE External Aid Co-ordination Office to co-ordinate all the assistance provided through various Emirati channels and liaise with the UN. The office, which is expected to be fully operational towards the end of next year, will "enhance the level and speed of response to emergencies and emerging conditions in affected areas", he said.

The Emirates also "plays a major role in co-ordinating and strengthening" relief efforts through Dubai's International Humanitarian City, one of the world's biggest "integrated logistics facilities". The co-ordination of humanitarian aid has become a hot political issue in the UAE and the rest of the Gulf, where oil-rich donors have historically acted independently by choosing needy recipients and providing aid directly.

But UN officials, including John Holmes, the undersecretary general for humanitarian affairs, have long campaigned for the UAE and other Gulf states to co-ordinate aid supplies through the world body. "There is a long-entrenched tradition here of giving aid bilaterally," said Mr Holmes. "I have no problems with that. But we are trying to encourage the countries of this region in particular... to channel more of what they do give through the multilateral channels, because we believe that is the most effective way of doing it."

Aid officials often cite the massive global humanitarian response to the Indian Ocean tsunami of Dec 2004, where poor co-ordination saw surplus supplies reach some victims while others were left without. Following a long-running rift between the Government and Mr Holmes' Office for the Co-ordination of Humanitarian Affairs (Ocha), this week's speech marked substantial UAE support for multilateral aid-giving.

"We welcome the envoy's expressions of support for international partnership and co-operation with the UN," said an Ocha spokeswoman. "We are especially pleased that there is a keen desire to co-ordinate the Government's bilateral assistance with the UN." During the General Assembly debate, Mr Barout also outlined support provided in the wake of disasters, including $1m to UN aid bodies as part of more than $1 billion given over the past three years.

Beneficiaries have included the people of Lebanon, Afghanistan, Iraq, Darfur and the Palestinian Territories, where the UAE has provided an estimated $4.2bn from 1994 until the middle of this year, said the envoy. The Emirates has already pledged $5m to help the UN Relief and Works Agency (UNRWA) assist Palestinian refugees living in Lebanon, as well as promising to contribute towards the reconstruction of Nahr el Bared camp in the north of the country, he added.

There has been, however, an ongoing discrepancy between the UN and the UAE when it comes to humanitarian aid. Representatives from Ocha and UNRWA said figures provided by the UAE do not match their records. The quantity of assistance provided by the Emirates has been dogged by controversy since April, when a government minister announced 3.6 per cent of gross national product goes to overseas assistance.

That 3.6 per cent is substantially higher than the $1bn over three years presented by Mr Barout this week. jreinl@thenational.ae

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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

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In numbers: PKK’s money network in Europe

Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010

Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille

Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm

Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year

Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”

Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners

TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013 

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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.”

Formula One top 10 drivers' standings after Japan

1. Lewis Hamilton, Mercedes 306
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3. Valtteri Bottas, Mercedes 234
4. Daniel Ricciardo, Red Bull 192
5. Kimi Raikkonen, Ferrari 148
6. Max Verstappen, Red Bull 111
7. Sergio Perez, Force India 82
8. Esteban Ocon, Force India 65
9. Carlos Sainz Jr, Toro Rosso 48
10. Nico Hulkenberg, Renault 34

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Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan

Star rating: 2/5

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Dir: The Russo Brothers
Starring: Chris Evans, Chris Pratt, Tom Holland, Robert Downey Junior, Scarlett Johansson, Elizabeth Olsen
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Indoor Cricket World Cup Dubai 2017

Venue Insportz, Dubai; Admission Free

Day 1 fixtures (Saturday)

Men 1.45pm, Malaysia v Australia (Court 1); Singapore v India (Court 2); UAE v New Zealand (Court 3); South Africa v Sri Lanka (Court 4)

Women Noon, New Zealand v South Africa (Court 3); England v UAE (Court 4); 5.15pm, Australia v UAE (Court 3); England v New Zealand (Court 4)

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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.