Representatives of the Afghan government and the Taliban met in Doha for talks on Saturday, AFP correspondents have said, as violence rages in the country with foreign forces almost entirely withdrawn.
The two sides have been meeting on and off for months in the Qatari capital, but the talks have lost momentum as the insurgents have made battlefield gains.
We have opened the Chaman border... allowing crowds of up to 4,000 Afghans including women and children to cross over to Afghanistan to celebrate Eid Al Adha
Pakistani border official
Several high-ranking officials, including former Afghan chief executive Abdullah Abdullah, gathered in a luxury hotel on Saturday after morning prayers.
They were joined by negotiators from the Taliban's political office in Doha.
Former president Hamid Karzai had also been due to travel to Doha but remained in Kabul, according to a source.
The Taliban have capitalised on the last stages of the withdrawal of US and other foreign troops from Afghanistan to launch a series of lightning offensives across the country.
Talks between the government and the Taliban side led by Mullah Abdul Ghani Baradar began with Koranic recitations, Naeem tweeted.
But the momentum of the ongoing Taliban offensive, as well as a growing mobilisation of anti-Taliban militia groups north of Kabul, suggests that peace talks are unlikely to reach any breakthrough soon.
Pakistan on Saturday partially reopened its side of the southern border crossing with Afghanistan, shut after the Taliban seized control of the strategic Afghan frontier town of Spin Boldak from government forces last week.
Thousands of Afghans were left stranded in the Pakistani town of Chaman after militants captured the town, part of a rapid offensive that left the government facing a crisis.
"We have opened the Chaman border... allowing crowds of up to 4,000 Afghans including women and children to cross over to Afghanistan to celebrate Eid Al Adha with their families, purely on humanitarian grounds," a border official told AFP.
The Taliban have also tightened their grip on the north, with clashes continuing Saturday in the stronghold of infamous warlord Abdul Rashid Dostum, that borders Turkmenistan.
Also on Saturday, the French government flew out around 100 of its citizens and Afghans working for the embassy from the capital, as security deteriorated, a French diplomatic source said.
Several other countries including India, China, Germany and Canada have flown out their citizens or told them to leave in recent days.
There have been weeks of intensifying fighting across Afghanistan, with the Taliban pressing multiple offensives and overrunning dozens of districts at a staggering rate.
As fighting raged over large swathes of Afghanistan, a war of words was also heating up between Kabul and Islamabad after the Afghan vice president accused the Pakistani military of providing "close air support to Taliban in certain areas".
Pakistan strongly denied the claim, with a foreign ministry statement saying the country "took necessary measures within its territory to safeguard our own troops and population".
Afghanistan's southern border has long been a flashpoint in relations with its eastern neighbour.
Pakistan's Balochistan province has been home to the Taliban's top leadership for decades, along with a large contingent of reserve fighters who regularly enter Afghanistan to bolster their ranks.
Foreign troops have been in Afghanistan for nearly two decades following the US-led invasion launched in the aftermath of the September 11 attacks.
They have appeared largely out of the picture in recent months, but fears are growing that Afghan forces will be overwhelmed without the vital air support they provide.
The speed and scale of the Taliban onslaught have caught many by surprise, with analysts saying it appears aimed at forcing the government to negotiate on the insurgents' terms or suffer complete military defeat.
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 specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
Available: Now
Company%20Profile
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UAE currency: the story behind the money in your pockets
It Was Just an Accident
Director: Jafar Panahi
Stars: Vahid Mobasseri, Mariam Afshari, Ebrahim Azizi, Hadis Pakbaten, Majid Panahi, Mohamad Ali Elyasmehr
Rating: 4/5
The Library: A Catalogue of Wonders
Stuart Kells, Counterpoint Press
Other IPL batting records
Most sixes: 292 – Chris Gayle
Most fours: 491 – Gautam Gambhir
Highest individual score: 175 not out – Chris Gayle (for Royal Challengers Bangalore against Pune Warriors in 2013)
Highest strike-rate: 177.29 – Andre Russell
Highest strike-rate in an innings: 422.22 – Chris Morris (for Delhi Daredevils against Rising Pune Supergiant in 2017)
Highest average: 52.16 – Vijay Shankar
Most centuries: 6 – Chris Gayle
Most fifties: 36 – Gautam Gambhir
Fastest hundred (balls faced): 30 – Chris Gayle (for Royal Challengers Bangalore against Pune Warriors in 2013)
Fastest fifty (balls faced): 14 – Lokesh Rahul (for Kings XI Punjab against Delhi Daredevils in 2018)
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
The specs: 2018 Nissan 370Z Nismo
The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km
What is Genes in Space?
Genes in Space is an annual competition first launched by the UAE Space Agency, The National and Boeing in 2015.
It challenges school pupils to design experiments to be conducted in space and it aims to encourage future talent for the UAE’s fledgling space industry. It is the first of its kind in the UAE and, as well as encouraging talent, it also aims to raise interest and awareness among the general population about space exploration.
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