The famous Arch of Triumph (front) and a partial view of the ancient oasis city of Palmyra in Syria. Joseph Eid / AFP
The famous Arch of Triumph (front) and a partial view of the ancient oasis city of Palmyra in Syria. Joseph Eid / AFP

Deprive ISIL of its propaganda



The ISIL attack on Palmyra’s Arch of Triumph is the third offensive on the ancient city since the militants took over in May. Previously, the group destroyed the shrine of Baal Shamin and the 2,000 year-old Temple of Bel, regarded as one of the greatest treasures of the region. Like the beheading videos that have flooded the internet, the extremist group succeeded in gaining the attention of the international media with their wanton destruction in Iraq and Syria. Now it is time to say, no more.

We have seen that ISIL propaganda is used as a powerful and effective recruitment tool. We know that the group aims to inspire fear and that terror, at its core, is an attempt to unbalance daily life. ISIL needs the oxygen of publicity to thrive and we must reserve the right to ignore their acts.

As we have argued before, cultural sites like Palmyra can be restored, but the lives of the innocent across Syria can never be returned. This is not to say that media shouldn’t report on the militants’ crimes. We can mark the act of cultural destruction, but should do no more.

Media coverage should not serve as an extension of ISIL’s propaganda and obediently release the group’s videos, images or screenshots. Perhaps we should focus on first-hand stories of people who escaped ISIL after witnessing their atrocities, especially those who were once part of the group. Every time ISIL beheads someone or destroys an ancient site, the world’s media follows the events feverishly, acting as a powerful incentive to the extremists to destroy the artefacts piece by piece. Let’s change this dynamic.

ISIL will continue to engage in ever more spectacular demonstrations of brutality and destruction as it loses its power. As if we were dealing with a misbehaving child, the more attention we give it, the more we will implicitly encourage the bad behaviour. Extremism thrives on attention. Let us collectively starve the militants of the attention they crave and ensure that we defeat them on the battlefield of Syria and Iraq.

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Emergency

Director: Kangana Ranaut

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

Rating: 2/5

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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.”

THE BIO: Martin Van Almsick

Hometown: Cologne, Germany

Family: Wife Hanan Ahmed and their three children, Marrah (23), Tibijan (19), Amon (13)

Favourite dessert: Umm Ali with dark camel milk chocolate flakes

Favourite hobby: Football

Breakfast routine: a tall glass of camel milk

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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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Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants

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The specs

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Transmission: eight-speed automatic

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'C'mon C'mon'

Director:Mike Mills

Stars:Joaquin Phoenix, Gaby Hoffmann, Woody Norman

Rating: 4/5

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

Directors: Avinash Arun, Prosit Roy 

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

Rating: 4.5/5

David Haye record

Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4

Six things you need to know about UAE Women’s Special Olympics football team

Several girls started playing football at age four

They describe sport as their passion

The girls don’t dwell on their condition

They just say they may need to work a little harder than others

When not in training, they play football with their brothers and sisters

The girls want to inspire others to join the UAE Special Olympics teams

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