Displaced Iraqis who fled their homes walk through the desert, as the battle against ISIL militants in western Mosul raged on February 28, 2017. Zohra Bensemra/Reuters
Displaced Iraqis who fled their homes walk through the desert, as the battle against ISIL militants in western Mosul raged on February 28, 2017. Zohra Bensemra/Reuters

UN says 8,000 flee west Mosul as Iraqi forces fight ISIL



BAGHDAD // About 8,000 people have fled from the western part of Mosul since Iraqi government forces launched the push to take that part of the city from ISIL last week, the UN humanitarian aid agency said on Tuesday.

Hundreds of civilians fled through the desert on Tuesday to escape fighting in Mosul, joining thousands of others who left their homes amid dire conditions in the city’s west.

OCHA, the UN agency, said it was expanding displacement camps to cope with the increasing numbers of those fleeing west Mosul. Iraq declared eastern Mosul “fully liberated” in January, after three months of fierce fighting.

With the support of the US-led coalition, Iraqi forces began the operation to retake western Mosul on February 19. They have so far captured the city’s international airport and a sprawling military base next to it as well some neighbourhoods from the southern edge.

Security forces reached the southernmost of Mosul’s five damaged or destroyed bridges across the Tigris River on Monday, a step that could allow troops to extend a floating bridge between the city’s east and west sides.

But even if Iraqi forces link the recaptured east bank with the west, tough fighting still lies ahead, and civilians will be caught in the middle.

“So far today [Tuesday], we have around 300 displaced people – men and women and children,” Brig Gen Salman Hashem of the Counter-Terrorism Service said.

“There are more coming. They’re stopped at a checkpoint when they arrive and separated. The men are searched and then checked against a database,” he said.

The people fleeing western Mosul are “often exhausted and dehydrated”, OCHA said, adding that an estimated 250,000 people could flee the fighting in the coming days.

Meanwhile, Iraqi special forces moved into western Mosul’s Shuhada neighbourhood amid fierce clashes with ISIL militants as federal police units continued clearing up Gawsaq, a neighbourhood retaken on Monday from the extremist group, according to special forces and police officers.

A mortar round landed in one of the streets, killing three civilians and wounding a fourth, as security forces scrambled to evacuate civilians to safe areas.

* Associated Press and Agence France-Presse

NYBL PROFILE

Company name: Nybl 

Date started: November 2018

Founder: Noor Alnahhas, Michael LeTan, Hafsa Yazdni, Sufyaan Abdul Haseeb, Waleed Rifaat, Mohammed Shono

Based: Dubai, UAE

Sector: Software Technology / Artificial Intelligence

Initial investment: $500,000

Funding round: Series B (raising $5m)

Partners/Incubators: Dubai Future Accelerators Cohort 4, Dubai Future Accelerators Cohort 6, AI Venture Labs Cohort 1, Microsoft Scale-up 

THE%20SWIMMERS
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Graphene can also detect cancer cells in the early stages of the disease.

The material was first discovered when Andre Geim and Konstantin Novoselov were 'playing' with graphite at the University of Manchester in 2004.

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Engine: 2.7-litre 4-cylinder Turbomax
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Price: From Dh192,500
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Israel Palestine on Swedish TV 1958-1989

Director: Goran Hugo Olsson

Rating: 5/5

Draw:

Group A: Egypt, DR Congo, Uganda, Zimbabwe

Group B: Nigeria, Guinea, Madagascar, Burundi

Group C: Senegal, Algeria, Kenya, Tanzania

Group D: Morocco, Ivory Coast, South Africa, Namibia

Group E: Tunisia, Mali, Mauritania, Angola

Group F: Cameroon, Ghana, Benin, Guinea-Bissau

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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The specs
Engine: 2.0-litre 4-cyl turbo

Power: 201hp at 5,200rpm

Torque: 320Nm at 1,750-4,000rpm

Transmission: 6-speed auto

Fuel consumption: 8.7L/100km

Price: Dh133,900

On sale: now 

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Match info

Manchester United 4
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Bournemouth 1
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Red card: Eric Bailly (Manchester United)

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Power: 154bhp

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Transmission: seven-speed automatic

Power: 400hp

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Price: Dh234,000 - Dh329,000

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Conservative MPs who have publicly revealed sending letters of no confidence
  1. Steve Baker
  2. Peter Bone
  3. Ben Bradley
  4. Andrew Bridgen
  5. Maria Caulfield​​​​​​​
  6. Simon Clarke 
  7. Philip Davies
  8. Nadine Dorries​​​​​​​
  9. James Duddridge​​​​​​​
  10. Mark Francois 
  11. Chris Green
  12. Adam Holloway
  13. Andrea Jenkyns
  14. Anne-Marie Morris
  15. Sheryll Murray
  16. Jacob Rees-Mogg
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  18. Lee Rowley
  19. Henry Smith
  20. Martin Vickers 
  21. John Whittingdale
Results

Female 49kg: Mayssa Bastos (BRA) bt Thamires Aquino (BRA); points 0-0 (advantage points points 1-0).

Female 55kg: Bianca Basilio (BRA) bt Amal Amjahid (BEL); points 4-2.

Female 62kg: Beatriz Mesquita (BRA) v Ffion Davies (GBR); 10-2.

Female 70kg: Thamara Silva (BRA) bt Alessandra Moss (AUS); submission.

Female 90kg: Gabreili Passanha (BRA) bt Claire-France Thevenon (FRA); submission.

Male 56kg: Hiago George (BRA) bt Carlos Alberto da Silva (BRA); 2-2 (2-0)

Male 62kg: Gabriel de Sousa (BRA) bt Joao Miyao (BRA); 2-2 (2-1)

Male 69kg: Paulo Miyao (BRA) bt Isaac Doederlein (USA); 2-2 (2-2) Ref decision.

Male 77kg: Tommy Langarkar (NOR) by Oliver Lovell (GBR); submission.

Male 85kg: Rudson Mateus Teles (BRA) bt Faisal Al Ketbi (UAE); 2-2 (1-1) Ref decision.

Male 94kg: Kaynan Duarte (BRA) bt Adam Wardzinski (POL); submission.

Male 110kg: Joao Rocha (BRA) bt Yahia Mansoor Al Hammadi (UAE); submission.

The Baghdad Clock

Shahad Al Rawi, Oneworld

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Engine: 1.5-litre turbo

Power: 181hp

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Transmission: 6-speed automatic

Starting price: Dh79,000

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