A Libyan man holds a box of cartridges as thousands gather for an anti-government protest in central Benghazi.
A Libyan man holds a box of cartridges as thousands gather for an anti-government protest in central Benghazi.

Gulf states back the Libyan rebels



BRUSSELS // Muammar Qaddafi's regime is illegitimate and contacts should be initiated with the Libyan rebels, the GCC said last night.

The six-nation alliance urged Arab League foreign ministers, who are due to meet in Cairo tomorrow, "to shoulder their responsibilities in taking necessary measures to stop the bloodshed".

"The foreign ministers' council stresses that the existing Libyan regime is illegitimate and calls for the need to initiate contacts with the interim national council," the Gulf states' foreign ministers said after meeting in the Saudi capital, Riyadh.

It was the third political boost of the day for the rebels fighting to overthrow Col Qaddafi, after France recognised them as the legitimate government of Libya and the US secretary of state Hillary Clinton announced plans to meet their political representatives next week.

But the rebels' diplomatic progress in unseating Col Qaddafi after nearly 42 years in power came as they were dealt a major setback on the battlefield.

Forces loyal to Col Qaddafi swept eastward across the country, rooting out insurgents from the key eastern oil town of Ras Lanuf. Packed into dozens of pick-up trucks mounted with machineguns, rebels fled the town under a continuous barrage of shelling, rocket and sniper fire. They had controlled it for a week.

Col Qaddafi's son Saif al Islam warned: "We're coming," and said his forces were advancing towards the rebel bastion of Benghazi in eastern Libya.

One rebel fighter dressed in military fatigues said: "We've been defeated. They are shelling and we are running away. That means that they're taking Ras Lanuf."

Although the overwhelming majority of rebels were fleeing east, small groups of men were believed to have stayed in Ras Lanuf, hunkered down in buildings and possibly preparing for a guerrilla battle.

Mahmoud Ibrahim, a retreating rebel in his late teens, wept and called on the US president Barack Obama and the British prime minister David Cameron to intervene. "Where's Obama? Where's Cameron? Tell Obama to help us," he sobbed.

But outside military intervention to aid the rebels seemed no closer to reality yesterday, as EU foreign ministers meeting in Brussels remained hesitant about endorsing a no-fly zone above Libya to protect the insurgents from air attacks.

The EU has promised a thorough review of its policy towards undemocratic regimes that violate human rights. But while steadily expanding sanctions on Libya's government, the 27-nation bloc has also struggled to come up with a more forceful response.

For about 100 supporters of Libya's opposition, demonstrating in front of the EU's headquarters in Brussels yesterday, the bloc was not acting nearly quickly enough. "If anything like this happened in Europe, they would have done something within 24 hours," complained Ibrahim Abushima, a Libyan doctor who lives in Belgium.

After the meeting, the UK's foreign secretary, William Hague, set out several conditions for a no-fly zone. "It's very important that a no-fly zone has a demonstrable need that the world can see, that it has a clear legal base and that it has broad support within the region itself, namely North Africa and the Arab world."

His remarks reflected both Nato and the EU shifting the onus of the decision to intervene militarily to both the United Nations and to the region itself.

The Nato secretary general, Anders Fogh Rasmussen ,said yesterday "further planning is required" to put a no-fly zone in place, though he noted that Nato was moving "naval assets" closer to the Libyan coast.

Darren Ennis, spokesman for the EU's foreign policy chief, Catherine Ashton, said: "In our vision any possible military action should be supported by the Arab League." The rebel reversals on the battlefield lent an added urgency to the debates in Brussels but may also complicate the international response. Confusion reigned over whether to recognise the opposition's Provisional National Council.

The move was not supported by the EU nor by most foreign ministers. "We recognise only states, not governments or opposition movements," Mr Ennis said.

The uncertain situation on the ground also seemed to stymie Nato. It was "unclear what future direction the country will take", Mr Rasmussen emphasised.

But he added he could not imagine Nato and the international community "to stand idly by as Col Qaddafi keeps attacking his people".

Nato started yesterday a 24-hour surveillance of Libya's air space to track the movement of Col Qaddafi's air force.

The EU also announced a tightening of its sanctions on several Libyan financial institutions.

EU leaders will consider further steps against Col Qaddafi at their summit today.

Despite the indecision of Europe's foreign ministers over acceding to a key rebel request, France's recognition of the rebel Provisional National Council represented a diplomatic success for Col Qaddafi's opponents.

The council is the only "legitimate representative of the Libyan people," the office of President Nicolas Sarkozy said after the French leader held talks at Elysee Palace with two representatives of the council. French officials also said Paris would send an ambassador to the eastern city of Benghazi, the rebels' headquarters.

In spurning Col Qaddafi in favour of his opponents, Mr Sarkozy's government seemed keen to make amends for a series of recent foreign policy gaffes in North Africa.

It underestimated the events that led to the overthrow of President Zine El Abidine Ben Ali in Tunisia and was embarrassed by vacations taken by French ministers at the expense of Mr Ben Ali and former Egyptian President Hosni Mubarak.

"From the start we've been absent from this extraordinarily positive movement in North Africa," said Dominique Paille, a member of Sarkozy's ruling UMP party. "We started very badly … and since then we have been a little afraid. We must take a certain leadership again," he said.

In Washington, Mrs Clinton said her meeting next week with rebel representatives would take place during a trip to Egypt and Tunisia.

"We are reaching to the opposition inside and outside of Libya. I will be meeting with some of those figures, both in the United States and when I travel next week, to discuss what more the United States and others can do," Mrs Clinton said.

She rejected outright the possibility of unilateral intervention by the US in Libya, saying it could have "unforeseeable consequences."

Injecting a note of caution into discussions about possible military intervention to aid the rebels, she also told a congressional committee that although Col Qaddafi had given up his nuclear weapons, he "still does have some remaining chemical weapons and some other nasty stuff we're concerned about."

In other congressional testimony, the head of the US intelligence community indicated that without outside military aid, the rebels would be defeated.

Col Qaddafi's forces have a logistical advantage over the rebels that means in a long fight the "regime will prevail," said James Clapper, the director of national intelligence.

He added that his appraisal was a personal assessment and not that of the US government.

* Caryle Murphy reported from Riyadh, Ferry Biedermann reported from Brussels. Additional reporting by Agence France-Presse

If you go

The flights

There are direct flights from Dubai to Sofia with FlyDubai (www.flydubai.com) and Wizz Air (www.wizzair.com), from Dh1,164 and Dh822 return including taxes, respectively.

The trip

Plovdiv is 150km from Sofia, with an hourly bus service taking around 2 hours and costing $16 (Dh58). The Rhodopes can be reached from Sofia in between 2-4hours.

The trip was organised by Bulguides (www.bulguides.com), which organises guided trips throughout Bulgaria. Guiding, accommodation, food and transfers from Plovdiv to the mountains and back costs around 170 USD for a four-day, three-night trip.

 

MATCH INFO

England 241-3 (20 ovs)

Malan 130 no, Morgan 91

New Zealand 165 all out (16.5ovs)

Southee 39, Parkinson 4-47

England win by 76 runs

Series level at 2-2

Review: Tomb Raider
Dir: Roar Uthaug
Starring: Alicia Vikander, Dominic West, Daniel Wu, Walter Goggins
​​​​​​​two stars

THE SPECS

Engine: 3-litre V6

Transmission: eight-speed automatic

Power: 424hp

Torque: 580 Nm

Price: From Dh399,000

On sale: Now

The biog

Name: Shamsa Hassan Safar

Nationality: Emirati

Education: Degree in emergency medical services at Higher Colleges of Technology

Favourite book: Between two hearts- Arabic novels

Favourite music: Mohammed Abdu and modern Arabic songs

Favourite way to spend time off: Family visits and spending time with friends

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.

Part three: an affection for classic cars lives on

Read part two: how climate change drove the race for an alternative 

Read part one: how cars came to the UAE

COMPANY%20PROFILE
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Essentials
The flights

Return flights from Dubai to Windhoek, with a combination of Emirates and Air Namibia, cost from US$790 (Dh2,902) via Johannesburg.
The trip
A 10-day self-drive in Namibia staying at a combination of the safari camps mentioned – Okonjima AfriCat, Little Kulala, Desert Rhino/Damaraland, Ongava – costs from $7,000 (Dh25,711) per person, including car hire (Toyota 4x4 or similar), but excluding international flights, with The Luxury Safari Company.
When to go
The cooler winter months, from June to September, are best, especially for game viewing. 

MATCH INFO

Watford 1 (Deulofeu 80' p)

Chelsea 2 (Abraham 5', Pulisic 55')

Match info

Wolves 0

Arsenal 2 (Saka 43', Lacazette 85')

Man of the match: Shkodran Mustafi (Arsenal)

if you go

The flights

Etihad flies direct from Abu Dhabi to San Francisco from Dh5,760 return including taxes. 

The car

Etihad Guest members get a 10 per cent worldwide discount when booking with Hertz, as well as earning miles on their rentals (more at www.hertz.com/etihad). A week's car hire costs from Dh1,500 including taxes.

The hotels

Along the route, Motel 6 (www.motel6.com) offers good value and comfort, with rooms from $55 (Dh202) per night including taxes. In Portland, the Jupiter Hotel (https://jupiterhotel.com/) has rooms from $165 (Dh606) per night including taxes. The Society Hotel https://thesocietyhotel.com/ has rooms from $130 (Dh478) per night including taxes. 

More info

To keep up with constant developments in Portland, visit www.travelportland.com

 

The specs

Engine: Direct injection 4-cylinder 1.4-litre
Power: 150hp
Torque: 250Nm
Price: From Dh139,000
On sale: Now

UAE WARRIORS RESULTS

Featherweight

Azouz Anwar (EGY) beat Marcelo Pontes (BRA)

TKO round 2

Catchweight 90kg

Moustafa Rashid Nada (KSA) beat Imad Al Howayeck (LEB)

Split points decision

Welterweight

Gimbat Ismailov (RUS) beat Mohammed Al Khatib (JOR)

TKO round 1

Flyweight (women)

Lucie Bertaud (FRA) beat Kelig Pinson (BEL)

Unanimous points decision

Lightweight

Alexandru Chitoran (ROU) beat Regelo Enumerables Jr (PHI)

TKO round 1

Catchweight 100kg

Marc Vleiger (NED) beat Mohamed Ali (EGY)

Rear neck choke round 1

Featherweight

James Bishop (NZ) beat Mark Valerio (PHI)

TKO round 2

Welterweight

Abdelghani Saber (EGY) beat Gerson Carvalho (BRA)

TKO round 1

Middleweight

Bakhtiyar Abbasov (AZE) beat Igor Litoshik (BLR)

Unanimous points decision

Bantamweight

Fabio Mello (BRA) beat Mark Alcoba (PHI)

Unanimous points decision

Welterweight

Ahmed Labban (LEB) v Magomedsultan Magomedsultanov (RUS)

TKO round 1

Bantamweight

Trent Girdham (AUS) beat Jayson Margallo (PHI)

TKO round 3

Lightweight

Usman Nurmagomedov (RUS) beat Roman Golovinov (UKR)

TKO round 1

Middleweight

Tarek Suleiman (SYR) beat Steve Kennedy (AUS)

Submission round 2

Lightweight

Dan Moret (USA) v Anton Kuivanen (FIN)

TKO round 2

Children who witnessed blood bath want to help others

Aged just 11, Khulood Al Najjar’s daughter, Nora, bravely attempted to fight off Philip Spence. Her finger was injured when she put her hand in between the claw hammer and her mother’s head.

As a vital witness, she was forced to relive the ordeal by police who needed to identify the attacker and ensure he was found guilty.

Now aged 16, Nora has decided she wants to dedicate her career to helping other victims of crime.

“It was very horrible for her. She saw her mum, dying, just next to her eyes. But now she just wants to go forward,” said Khulood, speaking about how her eldest daughter was dealing with the trauma of the incident five years ago. “She is saying, 'mama, I want to be a lawyer, I want to help people achieve justice'.”

Khulood’s youngest daughter, Fatima, was seven at the time of the attack and attempted to help paramedics responding to the incident.

“Now she wants to be a maxillofacial doctor,” Khulood said. “She said to me ‘it is because a maxillofacial doctor returned your face, mama’. Now she wants to help people see themselves in the mirror again.”

Khulood’s son, Saeed, was nine in 2014 and slept through the attack. While he did not witness the trauma, this made it more difficult for him to understand what had happened. He has ambitions to become an engineer.

Essentials

The flights
Etihad and Emirates fly direct from the UAE to Delhi from about Dh950 return including taxes.
The hotels
Double rooms at Tijara Fort-Palace cost from 6,670 rupees (Dh377), including breakfast.
Doubles at Fort Bishangarh cost from 29,030 rupees (Dh1,641), including breakfast. Doubles at Narendra Bhawan cost from 15,360 rupees (Dh869). Doubles at Chanoud Garh cost from 19,840 rupees (Dh1,122), full board. Doubles at Fort Begu cost from 10,000 rupees (Dh565), including breakfast.
The tours 
Amar Grover travelled with Wild Frontiers. A tailor-made, nine-day itinerary via New Delhi, with one night in Tijara and two nights in each of the remaining properties, including car/driver, costs from £1,445 (Dh6,968) per person.

MATCH INFO

Delhi Daredevils 174-4 (20 ovs)
Mumbai Indians 163 (19.3 ovs)

Delhi won the match by 11 runs

2025 Fifa Club World Cup groups

Group A: Palmeiras, Porto, Al Ahly, Inter Miami.

Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.

Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.

Group D: Flamengo, ES Tunis, Chelsea, Leon.

Group E: River Plate, Urawa, Monterrey, Inter Milan.

Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.

Group G: Manchester City, Wydad, Al Ain, Juventus.

Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.

The bio

Job: Coder, website designer and chief executive, Trinet solutions

School: Year 8 pupil at Elite English School in Abu Hail, Deira

Role Models: Mark Zuckerberg and Elon Musk

Dream City: San Francisco

Hometown: Dubai

City of birth: Thiruvilla, Kerala

Need to know

When: October 17 until November 10

Cost: Entry is free but some events require prior registration

Where: Various locations including National Theatre (Abu Dhabi), Abu Dhabi Cultural Center, Zayed University Promenade, Beach Rotana (Abu Dhabi), Vox Cinemas at Yas Mall, Sharjah Youth Center

What: The Korea Festival will feature art exhibitions, a B-boy dance show, a mini K-pop concert, traditional dance and music performances, food tastings, a beauty seminar, and more.

For more information: www.koreafestivaluae.com

A State of Passion

Directors: Carol Mansour and Muna Khalidi

Stars: Dr Ghassan Abu-Sittah

Rating: 4/5

Formula%204%20Italian%20Championship%202023%20calendar
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COMPANY%20PROFILE
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THE LIGHT

Director: Tom Tykwer

Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger

Rating: 3/5

The specs: 2018 Renault Megane

Price, base / as tested Dh52,900 / Dh59,200

Engine 1.6L in-line four-cylinder

Transmission Continuously variable transmission

Power 115hp @ 5,500rpm

Torque 156Nm @ 4,000rpm

Fuel economy, combined 6.6L / 100km

Brief scores:

Manchester United 4

Young 13', Mata 28', Lukaku 42', Rashford 82'

Fulham 1

Kamara 67' (pen),

Red card: Anguissa (68')

Man of the match: Juan Mata (Man Utd)

MATCH INFO

Syria v Australia
2018 World Cup qualifying: Asia fourth round play-off first leg
Venue: Hang Jebat Stadium (Malacca, Malayisa)
Kick-off: Thursday, 4.30pm (UAE)
Watch: beIN Sports HD

* Second leg in Australia scheduled for October 10

RESULTS

Men
1 Marius Kipserem (KEN) 2:04:04
2 Abraham Kiptum (KEN) 2:04:16
3 Dejene Debela Gonfra (ETH) 2:07:06
4 Thomas Rono (KEN) 2:07:12
5 Stanley Biwott (KEN) 2:09:18

Women
1 Ababel Yeshaneh (ETH) 2:20:16
2 Eunice Chumba (BRN) 2:20:54
3 Gelete Burka (ETH) 2:24:07
4 Chaltu Tafa (ETH) 2:25:09
5 Caroline Kilel (KEN) 2:29:14

The specs

Engine: Dual 180kW and 300kW front and rear motors

Power: 480kW

Torque: 850Nm

Transmission: Single-speed automatic

Price: From Dh359,900 ($98,000)

On sale: Now

MATCH INFO

Manchester City 3 (Sterling 46', De Bruyne 65', Gundogan 70')

Aston Villa 0

Red card: Fernandinho (Manchester City)

Man of the Match: Raheem Sterling (Manchester City)

Essentials

The flights
Emirates, Etihad and Malaysia Airlines all fly direct from the UAE to Kuala Lumpur and on to Penang from about Dh2,300 return, including taxes. 
 

Where to stay
In Kuala Lumpur, Element is a recently opened, futuristic hotel high up in a Norman Foster-designed skyscraper. Rooms cost from Dh400 per night, including taxes. Hotel Stripes, also in KL, is a great value design hotel, with an infinity rooftop pool. Rooms cost from Dh310, including taxes. 


In Penang, Ren i Tang is a boutique b&b in what was once an ancient Chinese Medicine Hall in the centre of Little India. Rooms cost from Dh220, including taxes.
23 Love Lane in Penang is a luxury boutique heritage hotel in a converted mansion, with private tropical gardens. Rooms cost from Dh400, including taxes. 
In Langkawi, Temple Tree is a unique architectural villa hotel consisting of antique houses from all across Malaysia. Rooms cost from Dh350, including taxes.

The distance learning plan

Spring break will be from March 8 - 19

Public school pupils will undergo distance learning from March 22 - April 2. School hours will be 8.30am to 1.30pm

Staff will be trained in distance learning programmes from March 15 - 19

Teaching hours will be 8am to 2pm during distance learning

Pupils will return to school for normal lessons from April 5

Last 10 winners of African Footballer of the Year

2006: Didier Drogba (Chelsea and Ivory Coast)
2007: Frederic Kanoute (Sevilla and Mali)
2008: Emmanuel Adebayor (Arsenal and Togo)
2009: Didier Drogba (Chelsea and Ivory Coast)
2010: Samuel Eto’o (Inter Milan and Cameroon)
2011: Yaya Toure (Manchester City and Ivory Coast)
2012: Yaya Toure (Manchester City and Ivory Coast)
2013: Yaya Toure (Manchester City and Ivory Coast)
2014: Yaya Toure (Manchester City and Ivory Coast)
2015: Pierre-Emerick Aubameyang (Borussia Dortmund and Gabon)
2016: Riyad Mahrez (Leicester City and Algeria)

CABINET%20OF%20CURIOSITIES%20EPISODE%201%3A%20LOT%2036
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EGuillermo%20del%20Toro%3Cbr%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Tim%20Blake%20Nelson%2C%20Sebastian%20Roche%2C%20Elpidia%20Carrillo%3Cbr%3ERating%3A%204%2F5%3C%2Fp%3E%0A
MATCH INFO

Argentina 47 (Tries: Sanchez, Tuculet (2), Mallia (2), De La Fuente, Bertranou; Cons: Sanchez 5, Urdapilleta)

United States 17 (Tries: Scully (2), Lasike; Cons: MacGinty)

If you go

Flights

Emirates flies from Dubai to Phnom Penh with a stop in Yangon from Dh3,075, and Etihad flies from Abu Dhabi to Phnom Penh with its partner Bangkok Airlines from Dh2,763. These trips take about nine hours each and both include taxes. From there, a road transfer takes at least four hours; airlines including KC Airlines (www.kcairlines.com) offer quick connecting flights from Phnom Penh to Sihanoukville from about $100 (Dh367) return including taxes. Air Asia, Malindo Air and Malaysian Airlines fly direct from Kuala Lumpur to Sihanoukville from $54 each way. Next year, direct flights are due to launch between Bangkok and Sihanoukville, which will cut the journey time by a third.

The stay

Rooms at Alila Villas Koh Russey (www.alilahotels.com/ kohrussey) cost from $385 per night including taxes.

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 
2.0

Director: S Shankar

Producer: Lyca Productions; presented by Dharma Films

Cast: Rajnikanth, Akshay Kumar, Amy Jackson, Sudhanshu Pandey

Rating: 3.5/5 stars

Points Classification after Stage 1

1. Geraint Thomas (Britain / Team Sky) 20

2. Stefan Kueng (Switzerland / BMC Racing) 17

3. Vasil Kiryienka (Belarus / Team Sky) 15

4. Tony Martin (Germany / Katusha) 13

5. Matteo Trentin (Italy / Quick-Step) 11

6. Chris Froome (Britain / Team Sky) 10

7. Jos van Emden (Netherlands / LottoNL) 9

8. Michal Kwiatkowski (Poland / Team Sky) 8

9. Marcel Kittel (Germany / Quick-Step) 7

10. Edvald Boasson Hagen (Norway / Dimension Data) 6

SCHEDULE

6.30pm Maiden Dh165,000 (Dirt) 1,400m
7.05pm: Handicap Dh170,000 (D) 1,600m
7.40pm: Maiden Dh165,000 (D) 1,600m
8.15pm: Handicap Dh210,000 (D) 1,200m
8.50pm: Handicap Dh210,000 (D) 2,000m
9.25pm:Handicap Dh185,000 (D) 1,400m
 
Amith's predicted winners:
6.30pm: Down On Da Bayou
7.05pm: Etisalat
7.40pm: Mulfit
8.15pm: Pennsylvania Dutch
8.50pm: Mudallel
9.25pm: Midnight Sands

RESULT

West Brom 2 Liverpool 2
West Brom: Livermore (79'), Rondón (88' ) 
Liverpool: Ings (4'), Salah (72') 

Stage 5 results

1 Tadej Pogacar (SLO) UAE Team Emirates 3:48:53

2 Alexey Lutsenko (KAZ) Astana Pro Team -

Adam Yates (GBR) Mitchelton-Scott - 

4 David Gaudu (FRA) Groupama-FDJ  0:00:04

5 Ilnur Zakarin (RUS) CCC Team 0:00:07

General Classification:

1 Adam Yates (GBR) Mitchelton-Scott 20:35:04

2 Tadej Pogacar (SlO) UAE Team Emirates 0:01:01

3 Alexey Lutsenko (KAZ) Astana Pro Team 0:01:33

4 David Gaudu (FRA) Groupama-FDJ 0:01:48

5 Rafał Majka (POL) Bora-Hansgrohe 0:02:11

Western Region Asia Cup Qualifier

Results

UAE beat Saudi Arabia by 12 runs

Kuwait beat Iran by eight wickets

Oman beat Maldives by 10 wickets

Bahrain beat Qatar by six wickets

Semi-finals

UAE v Qatar

Bahrain v Kuwait

 

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

Guns N’ Roses’s last gig before Abu Dhabi was in Hong Kong on November 21. We were there – and here’s what they played, and in what order. You were warned.

  • It’s So Easy
  • Mr Brownstone
  • Chinese Democracy
  • Welcome to the Jungle
  • Double Talkin’ Jive
  • Better
  • Estranged
  • Live and Let Die (Wings cover)
  • Slither (Velvet Revolver cover)
  • Rocket Queen
  • You Could Be Mine
  • Shadow of Your Love
  • Attitude (Misfits cover)
  • Civil War
  • Coma
  • Love Theme from The Godfather (movie cover)
  • Sweet Child O’ Mine
  • Wichita Lineman (Jimmy Webb cover)
  • Wish You Were Here (instrumental Pink Floyd cover)
  • November Rain
  • Black Hole Sun (Soundgarden cover)
  • Knockin’ on Heaven’s Door (Bob Dylan cover)
  • Nightrain

Encore:

  • Patience
  • Don’t Cry
  • The Seeker (The Who cover)
  • Paradise City
Retirement funds heavily invested in equities at a risky time

Pension funds in growing economies in Asia, Latin America and the Middle East have a sharply higher percentage of assets parked in stocks, just at a time when trade tensions threaten to derail markets.

Retirement money managers in 14 geographies now allocate 40 per cent of their assets to equities, an 8 percentage-point climb over the past five years, according to a Mercer survey released last week that canvassed government, corporate and mandatory pension funds with almost $5 trillion in assets under management. That compares with about 25 per cent for pension funds in Europe.

The escalating trade spat between the US and China has heightened fears that stocks are ripe for a downturn. With tensions mounting and outcomes driven more by politics than economics, the S&P 500 Index will be on course for a “full-scale bear market” without Federal Reserve interest-rate cuts, Citigroup’s global macro strategy team said earlier this week.

The increased allocation to equities by growth-market pension funds has come at the expense of fixed-income investments, which declined 11 percentage points over the five years, according to the survey.

Hong Kong funds have the highest exposure to equities at 66 per cent, although that’s been relatively stable over the period. Japan’s equity allocation jumped 13 percentage points while South Korea’s increased 8 percentage points.

The money managers are also directing a higher portion of their funds to assets outside of their home countries. On average, foreign stocks now account for 49 per cent of respondents’ equity investments, 4 percentage points higher than five years ago, while foreign fixed-income exposure climbed 7 percentage points to 23 per cent. Funds in Japan, South Korea, Malaysia and Taiwan are among those seeking greater diversification in stocks and fixed income.

• Bloomberg

UNSC Elections 2022-23

Seats open:

  • Two for Africa Group
  • One for Asia-Pacific Group (traditionally Arab state or Tunisia)
  • One for Latin America and Caribbean Group
  • One for Eastern Europe Group

Countries so far running: 

  • UAE
  • Albania 
  • Brazil 

PFA Team of the Year: David de Gea, Kyle Walker, Jan Vertonghen, Nicolas Otamendi, Marcos Alonso, David Silva, Kevin De Bruyne, Christian Eriksen, Harry Kane, Mohamed Salah, Sergio Aguero

The biog

Prefers vegetables and fish to meat and would choose salad over pizza

Walks daily as part of regular exercise routine 

France is her favourite country to visit

Has written books and manuals on women’s education, first aid and health for the family

Family: Husband, three sons and a daughter

Fathiya Nadhari's instructions to her children was to give back to the country

The children worked as young volunteers in social, education and health campaigns

Her motto is to never stop working for the country

From Conquest to Deportation

Jeronim Perovic, Hurst

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Batti Gul Meter Chalu

Producers: KRTI Productions, T-Series
Director: Sree Narayan Singh
Cast: Shahid Kapoor, Shraddha Kapoor, Divyenndu Sharma, Yami Gautam
Rating: 2/5

The specs: 2019 Jeep Wrangler

Price, base: Dh132,000

Engine: 3.6-litre V6

Gearbox: Eight-speed automatic

Power: 285hp @ 6,400rpm

Torque: 347Nm @ 4,100rpm

Fuel economy, combined: 9.6L to 10.3L / 100km