ABU DHABI // South Korea is to send its seventh batch of troops to the UAE this month as part of a military cooperation.
One hundred and fifty soldiers will be deployed in Al Ain, taking over from troops that were deployed in early July, the South Korean embassy in Abu Dhabi confirmed on Thursday.
During a farewell ceremony at a training centre in Gwangju, south of Seoul, on Monday, the South Korean army chief, Kwon Oh-sung, called for “utmost efforts” among the new soldiers, the South Korean news agency Yonhap reported.
“The Ahk unit is made up of the first South Korean troops deployed overseas for military cooperation activities since the establishment of the South Korean army,” Mr Kwon said.
“I hope all the soldiers will have pride and make every effort to accomplish their missions.”
Last month, the South Korean defence minister, Kim Kwan-jin, visited the UAE for talks with his counterpart on increasing military and defence-industry cooperation between the countries. The delegation also visited South Korea’s military contingent in Al Ain.
The embassy official said the Ahk unit had been stationed in Al Ain since 2011 to help train UAE troops in anti-terrorism efforts, including anti-hijacking operations, counter-insurgency actions and parachute infiltration, while conducting joint drills.
Experts said the joint military cooperation was of great importance to the UAE.
“The problem is with North Korea, not the South,” said Dr Mustafa Alani, director of the national security and terrorism programme at the Gulf Research Centre.
“One of the instruments they use in their policy is terrorism, especially against South Korea, so they have accumulated a good amount of experience in this field as they are under constant threat from North Korea.”
He said South Korea’s army was quite organised.
“They’re highly qualified and they have an advantage over a lot of other forces and countries,” he said. “Besides their experience, they have a good system of training and qualification.”
The first contingent of South Korean troops set off for the UAE in December 2010. They were part of a growing number of military personnel dispatched around the world by Seoul.
The national assembly had, at the time, approved 130 troops to be deployed for two years in the UAE.
“They are also not coming with any political conditions,” Dr Alani said. “When you go to these big states, there are political conditions and restrictions, but South Korea is not involved in any problems in the region so they are doing the job professionally.
“This makes them a good candidate to be used.”
The South Korean government will have to decide later on the amount of time the new troops will be deployed in the UAE.
The UAE and South Korea have deepened their bilateral relations in recent years and the South Korean military deployment in the UAE is not the first.
In June 2011, the UAE invited specialist naval forces from South Korea to provide counter-piracy training as part of efforts to boost its defence against the growing high-seas threat.
Ten underwater demolition troops arrived a month later, in addition to the special forces that were already stationed in Al Ain.
Earlier that year, South Korea had successfully freed a ship from Somali pirates. Its navy commandos also rescued the South Korean cargo ship Samho Jewellery, which had been hijacked in the Arabian Sea en route from the UAE to Sri Lanka.
cmalek@thenational.ae
U19 World Cup in South Africa
Group A: India, Japan, New Zealand, Sri Lanka
Group B: Australia, England, Nigeria, West Indies
Group C: Bangladesh, Pakistan, Scotland, Zimbabwe
Group D: Afghanistan, Canada, South Africa, UAE
UAE fixtures
Saturday, January 18, v Canada
Wednesday, January 22, v Afghanistan
Saturday, January 25, v South Africa
UAE squad
Aryan Lakra (captain), Vriitya Aravind, Deshan Chethyia, Mohammed Farazuddin, Jonathan Figy, Osama Hassan, Karthik Meiyappan, Rishabh Mukherjee, Ali Naseer, Wasi Shah, Alishan Sharafu, Sanchit Sharma, Kai Smith, Akasha Tahir, Ansh Tandon
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
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Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
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.”
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Coffee: black death or elixir of life?
It is among the greatest health debates of our time; splashed across newspapers with contradicting headlines - is coffee good for you or not?
Depending on what you read, it is either a cancer-causing, sleep-depriving, stomach ulcer-inducing black death or the secret to long life, cutting the chance of stroke, diabetes and cancer.
The latest research - a study of 8,412 people across the UK who each underwent an MRI heart scan - is intended to put to bed (caffeine allowing) conflicting reports of the pros and cons of consumption.
The study, funded by the British Heart Foundation, contradicted previous findings that it stiffens arteries, putting pressure on the heart and increasing the likelihood of a heart attack or stroke, leading to warnings to cut down.
Numerous studies have recognised the benefits of coffee in cutting oral and esophageal cancer, the risk of a stroke and cirrhosis of the liver.
The benefits are often linked to biologically active compounds including caffeine, flavonoids, lignans, and other polyphenols, which benefit the body. These and othetr coffee compounds regulate genes involved in DNA repair, have anti-inflammatory properties and are associated with lower risk of insulin resistance, which is linked to type-2 diabetes.
But as doctors warn, too much of anything is inadvisable. The British Heart Foundation found the heaviest coffee drinkers in the study were most likely to be men who smoked and drank alcohol regularly.
Excessive amounts of coffee also unsettle the stomach causing or contributing to stomach ulcers. It also stains the teeth over time, hampers absorption of minerals and vitamins like zinc and iron.
It also raises blood pressure, which is largely problematic for people with existing conditions.
So the heaviest drinkers of the black stuff - some in the study had up to 25 cups per day - may want to rein it in.
Rory Reynolds
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Power: 310hp
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Transmission: 8-speed automatic
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Israel Palestine on Swedish TV 1958-1989
Director: Goran Hugo Olsson
Rating: 5/5
UAE v Ireland
1st ODI, UAE win by 6 wickets
2nd ODI, January 12
3rd ODI, January 14
4th ODI, January 16
57%20Seconds
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21 Lessons for the 21st Century
Yuval Noah Harari, Jonathan Cape