Suweida Governor Mustafa Al Bakour. Photo: X
Suweida Governor Mustafa Al Bakour. Photo: X
Suweida Governor Mustafa Al Bakour. Photo: X
Suweida Governor Mustafa Al Bakour. Photo: X

Governor of Druze-majority Suweida released after being held hostage at town hall


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An armed group briefly held the governor of Syria's Suweida province hostage at the town hall on Wednesday, demanding the release of a prisoner, who had previously been convicted of stealing several vehicles, Syria's Information Ministry said.

The assailants stormed the government building at gunpoint, sealed its gates, and detained Governor Mustafa Al Bakour, along with employees and security guards, the ministry said, before eventually releasing them.

Later, the convicted individual was released under threat, for the safety of the hostages. The same group has been implicated in similar thefts.

“The attackers brandished their machine guns at the governor, employees, and building guards after they had locked the doors. They claimed they were demanding the release of a relative detained in a car theft case,” the ministry said.

“Following the incident, Suweida's Nationalist Factions, led by the Mountain Brigade, intervened to remove the outlawed group. The Men of Dignity movement was mobilised and secured the governor's exit route from the building.”

The ministry said that “enforcing the law and maintaining security in Suweida Governorate is an irreversible choice. We will not tolerate any attempt to destabilise security or undermine state institutions”.

The Druze majority province of Suweida in south-western Syria continues to experience tension despite an agreement signed with the government earlier this month.

Violence erupted in Syria earlier this month after an audio recording allegedly of a Druze citizen and considered blasphemous circulated on social media. Syrian authorities later said the recording was fake. Sunni militants attacked Druze towns near Damascus and more than a hundred Druze were killed as a result.

Syrian Druze spiritual leader Sheikh Hikmat Al Hijri condemned at the time a “genocidal campaign” against his people and called for “international forces to maintain peace and prevent the continuation of these crimes”.

The Druze are a small religious sect that emerged from a branch of Islam in the 11th century. Their faith blends elements of Islam with ancient traditions. The Arabic-speaking minority is concentrated in Syria, Lebanon, Israel and the Israeli-occupied Golan Heights and estimated to be about 1 million.

In Syria, the largest Druze population is based in the southern province of Suweida, as well as in certain Damascus suburbs such as Jaramana and Sahnaya. Their numbers in Syria are estimated at about 700,000.

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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.”

BMW M5 specs

Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor

Power: 727hp

Torque: 1,000Nm

Transmission: 8-speed auto

Fuel consumption: 10.6L/100km

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•   Spend less than you earn and save the rest. You can do this by earning more, or being frugal. Better still, do both.

•   Invest early, invest often. It takes time to grow your wealth on the stock market. The sooner you begin, the better.

•   Choose the right level of risk. Don't gamble by investing in get-rich-quick schemes or high-risk plays. Don't play it too safe, either, by leaving long-term savings in cash.

•   Diversify. Do not keep all your eggs in one basket. Spread your money between different companies, sectors, markets and asset classes such as bonds and property.

•   Keep charges low. The biggest drag on investment performance is all the charges you pay to advisers and active fund managers.

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•   Forget timing the market. Nobody knows where share prices will go next, so don't try to second-guess them.

•   Stick with it. Do not sell up in a market crash. Use the opportunity to invest more at the lower price.

The specs
  • Engine: 3.9-litre twin-turbo V8
  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
  • Price: Not announced yet

Chelsea 2 Burnley 3
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The specs: 2018 Renault Koleos

Price, base: From Dh77,900
Engine: 2.5L, in-line four-cylinder
Transmission: Continuously variable transmission
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Torque: 233Nm @ 4,000rpm
Fuel economy, combined: 8.3L / 100km

Updated: May 22, 2025, 9:52 AM