Nepalese security guards receive treatment at a hospital following a suicide attack in Kabul, Afghanistan, on Monday, June 20, 2016. At least a dozen of the guards were killed. AP Photo/Rahmat Gul
Nepalese security guards receive treatment at a hospital following a suicide attack in Kabul, Afghanistan, on Monday, June 20, 2016. At least a dozen of the guards were killed. AP Photo/Rahmat Gul

Taliban suicide bombing kills 14 Nepalese guards in Kabul



KABUL // A Taliban suicide bomber killed 14 Nepalese security guards in an attack on Monday on their minibus in the Afghan capital.

The Nepalese were on their way to the Canadian embassy where they work as guards, according to a Nepalese guard wounded in the attack.

The Taliban have stepped up assaults, including in Kabul, as part of their summer offensive. The insurgents frequently target government employees and Afghan security forces across the country.

Elsewhere in Afghanistan, a bomb rigged to a motorbike killed eight Afghan civilians during morning rush hour in a province in the north-east. And later on Monday in Kabul, a second Taliban bombing killed an Afghan civilian and wounded five people, including a provincial council member who was the intended target of that attack, authorities said.

In the bombing that killed the Nepalese guards, the bomber was on foot when he struck the minibus, said Gen Abdul Rahman Rahimi, the city’s police chief. He did not identify the foreign security company the guards work for.

An Interior Ministry statement confirmed that all 14 killed were Nepalese citizens, describing the attack as the work of a “terrorist suicide bomber.” It said the explosion also wounded nine people, five Nepalese employees and four Afghan civilians.

Amrit Rokaya Chhetri, a Nepalese guard wounded in the attack, said they were on their way to the Canadian embassy when the blast took place.

“Many people died,” Mr Chhetri said from his hospital bed, his head covered with bandage. “I say to my family, I am ok and I will come home.”

Abdullah Abdullah, the country’s chief executive officer, condemned the attack, saying: “This attack is an act of terror and intimidation.”

Taliban spokesman Zabihullah Mujahid claimed responsibility for the blast.

In late May, a Taliban suicide bomber targeted a minibus carrying court employees during morning rush hour in Kabul, killing 11 people – judges and court employees. The bomber, who was on foot, detonated his explosives’ vest as he walked by the vehicle in the western part of the city.

In Nepal, Bharat Raj Paudyal, spokesman for Nepal’s foreign ministry, said the government is aware of Monday’s incident in Kabul and is trying to verify the names of the victims and details about the bombing.

Nepal does not have an embassy in Afghanistan but the embassy in Islamabad, Pakistan, is working to get the details, he said.

In north-eastern Badakhshan province, the parked motorbike-bomb that killed at least eight Afghan civilians also wounded 14 others, according to Naved Froutan, spokesman for the provincial governor.

The explosion took place in the main bazaar in Kashim district, he said, adding that “an investigation is underway to determine the target of the attack, but all victims of the attack are civilians.”

No group immediately claimed responsibility for the Badakhshan attack, though Taliban are active in the area and regularly target Afghan security forces there.

Meanwhile, the second blast in Kabul went off near the home of Mawlavi Attaullah Faizani, a member of the Kabul provincial council, said Sediq Sediqqi, spokesman for the Afghan interior minister.

He said the bomb went off as Faizani was passing by in his vehicle. Mujahid, the Taliban spokesman, said insurgents had targeted the provincial council member.

*Associated Press

The specs

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Power: 181hp

Torque: 230Nm

Transmission: 6-speed automatic

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Cryopreservation: A timeline
  1. Keyhole surgery under general anaesthetic
  2. Ovarian tissue surgically removed
  3. Tissue processed in a high-tech facility
  4. Tissue re-implanted at a time of the patient’s choosing
  5. Full hormone production regained within 4-6 months
Other workplace saving schemes
  • The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
  • Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
  • National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
  • In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
  • Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
The Sand Castle

Director: Matty Brown

Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea

Rating: 2.5/5

Emergency

Director: Kangana Ranaut

Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry 

Rating: 2/5

The Bio

Favourite vegetable: “I really like the taste of the beetroot, the potatoes and the eggplant we are producing.”

Holiday destination: “I like Paris very much, it’s a city very close to my heart.”

Book: “Das Kapital, by Karl Marx. I am not a communist, but there are a lot of lessons for the capitalist system, if you let it get out of control, and humanity.”

Musician: “I like very much Fairuz, the Lebanese singer, and the other is Umm Kulthum. Fairuz is for listening to in the morning, Umm Kulthum for the night.”

The specs: Lamborghini Aventador SVJ

Price, base: Dh1,731,672

Engine: 6.5-litre V12

Gearbox: Seven-speed automatic

Power: 770hp @ 8,500rpm

Torque: 720Nm @ 6,750rpm

Fuel economy: 19.6L / 100km

Vidaamuyarchi

Director: Magizh Thirumeni

Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra

Rating: 4/5

 

Our legal consultants

Name: Hassan Mohsen Elhais

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

Liverpool’s fixtures until end of 2019

Saturday, November 30, Brighton (h)

Wednesday, December 4, Everton (h)

Saturday, December 7, Bournemouth (a)

Tuesday, December 10, Salzburg (a) CL

Saturday, December 14, Watford (h)

Tuesday, December 17, Aston Villa (a) League Cup

Wednesday, December 18, Club World Cup in Qatar

Saturday, December 21, Club World Cup in Qatar

Thursday, December 26, Leicester (a)

Sunday, December 29, Wolves (h)

Paatal Lok season two

Directors: Avinash Arun, Prosit Roy 

Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong

Rating: 4.5/5

UAE finals day

Friday, April 13
Rugby Park, Dubai Sports City

3pm, UAE Conference: Dubai Tigers v Sharjah Wanderers
6.30pm, UAE Premiership: Dubai Exiles v Abu Dhabi Harlequins

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

Director: Laxman Utekar

Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna

Rating: 1/5

GROUPS

Group Gustavo Kuerten
Novak Djokovic (x1)
Alexander Zverev (x3)
Marin Cilic (x5)
John Isner (x8)

Group Lleyton Hewitt
Roger Federer (x2)
Kevin Anderson (x4)
Dominic Thiem (x6)
Kei Nishikori (x7)

COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4

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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COMPANY PROFILE
Name: Airev
Started: September 2023
Founder: Muhammad Khalid
Based: Abu Dhabi
Sector: Generative AI
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
 
THE DETAILS

Kaala

Dir: Pa. Ranjith

Starring: Rajinikanth, Huma Qureshi, Easwari Rao, Nana Patekar  

Rating: 1.5/5 

If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.

When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.

How to get there: Emirates currently flies from Dubai to Orlando five times a week.
COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
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RESULTS
%3Cp%3E%0D%3Cstrong%3E1.45pm%3A%3C%2Fstrong%3E%20Green%20Oasis%20Trading%20%E2%80%93%20Maiden%20(PA)%20Dh50%2C000%20(Dirt)%201%2C400m%0D%3Cbr%3E%3Cstrong%3EWinner%3A%3C%2Fstrong%3E%20Meeqat%2C%20Saif%20Al%20Balushi%20(jockey)%2C%20Khalifa%20Al%20Neyadi%20(trainer)%0D%3Cbr%3E%3Cstrong%3E2.15pm%3A%20%3C%2Fstrong%3EAl%20Shafar%20Investment%20%E2%80%93%20Maiden%20(TB)%20Dh60%2C000%20(D)%201%2C400m%0D%3Cbr%3E%3Cstrong%3EWinner%3A%3C%2Fstrong%3E%20Flying%20Hunter%2C%20Ray%20Dawson%2C%20Ahmad%20bin%20Harmash%0D%3Cbr%3E%3Cstrong%3E2.45pm%3A%20%3C%2Fstrong%3EThe%20Union%2051%20Cup%20%E2%80%93%20Handicap%20(TB)%20Dh84%2C000%20(D)%201%2C400m%0D%3Cbr%3E%3Cstrong%3EWinner%3A%3C%2Fstrong%3E%20Ibra%20Attack%2C%20Adrie%20de%20Vries%2C%20Ahmed%20Al%20Shemaili%0D%3Cbr%3E%3Cstrong%3E3.15pm%3A%3C%2Fstrong%3E%20ASCANA%20Thakaful%20%E2%80%93%20Maiden%20(TB)%20Dh60%2C000%20(D)%201%2C200m%0D%3Cbr%3E%3Cstrong%3EWinner%3A%3C%2Fstrong%3E%20Onda%20Ruggente%2C%20Royston%20Ffrench%2C%20Salem%20bin%20Ghadayer%0D%3Cbr%3E%3Cstrong%3E3.45pm%3A%20%3C%2Fstrong%3ECommercial%20Bank%20of%20Dubai%20%E2%80%93%20Handicap%20(TB)%20Dh76%2C000%20(D)%201%2C200m%0D%3Cbr%3EWinner%3A%20Dignity%20Joy%2C%20Antonio%20Fresu%2C%20Musabah%20Al%20Muhairi%0D%3Cbr%3E%3Cstrong%3E4.15pm%3A%20%3C%2Fstrong%3EDubai%20Real%20Estate%20Centre%20%E2%80%93%20Handicap%20(TB)%20Dh76%2C000%20(D)%201%2C600m%0D%3Cbr%3E%3Cstrong%3EWinner%3A%3C%2Fstrong%3E%20Tolmount%2C%20Xavier%20Ziani%2C%20Salem%20bin%20Ghadayer%0D%3Cbr%3E%3Cstrong%3E4.45pm%3A%20%3C%2Fstrong%3EJebel%20Ali%20Racecourse%20%E2%80%93%20Handicap%20(TB)%20Dh84%2C000%20(D)%201%2C950m%0D%3Cbr%3E%3Cstrong%3EWinner%3A%20%3C%2Fstrong%3ERakeez%2C%20Tadhg%20O%E2%80%99Shea%2C%20Bhupat%20Seemar%3C%2Fp%3E%0A
Three trading apps to try

Sharad Nair recommends three investment apps for UAE residents:

  • For beginners or people who want to start investing with limited capital, Mr Nair suggests eToro. “The low fees and low minimum balance requirements make the platform more accessible,” he says. “The user interface is straightforward to understand and operate, while its social element may help ease beginners into the idea of investing money by looking to a virtual community.”
  • If you’re an experienced investor, and have $10,000 or more to invest, consider Saxo Bank. “Saxo Bank offers a more comprehensive trading platform with advanced features and insight for more experienced users. It offers a more personalised approach to opening and operating an account on their platform,” he says.
  • Finally, StashAway could work for those who want a hands-off approach to their investing. “It removes one of the biggest challenges for novice traders: picking the securities in their portfolio,” Mr Nair says. “A goal-based approach or view towards investing can help motivate residents who may usually shy away from investment platforms.”