German Chancellor Olaf Scholz and Lithuanian President Gitanas Nauseda visit German troops of the Nato-enhanced Forward Presence Battlegroup in Lithuania on June 7. Reuters
German Chancellor Olaf Scholz and Lithuanian President Gitanas Nauseda visit German troops of the Nato-enhanced Forward Presence Battlegroup in Lithuania on June 7. Reuters
German Chancellor Olaf Scholz and Lithuanian President Gitanas Nauseda visit German troops of the Nato-enhanced Forward Presence Battlegroup in Lithuania on June 7. Reuters
German Chancellor Olaf Scholz and Lithuanian President Gitanas Nauseda visit German troops of the Nato-enhanced Forward Presence Battlegroup in Lithuania on June 7. Reuters

Germany sends troops to Bosnia amid fears of regional instability


Soraya Ebrahimi
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For the first time in a decade, Germany has sent troops to the EU's peacekeeping mission in Bosnia as concerns increase that instability from the Ukraine war could spread to the Western Balkans.

The first German troops to arrive in the country were greeted in a ceremony at the Sarajevo headquarters of the Eufor force on Tuesday, a German military spokesman said.

Germany will send 30 troops in total to the country by mid-September after leaving the country in 2012.

Bosnia is hundreds of kilometres from the fighting in Ukraine but faces an increasingly assertive Bosnian Serb separatist movement that analysts say has at least tacit support from Moscow.

Nato and senior EU officials have warned that instability from the war in Ukraine could spread to the Western Balkans.

Only days after Russia's invasion of Ukraine, the EU decided to almost double the size of its Eufor peacekeeping force to 1,100 from 600 troops by sending in reserves to stave off any instability.

During a visit to the northern town of Novi Grad on Tuesday, Bosnian Serb separatist leader Milorad Dodik said German troops were not welcome, in reference to enmity from the Second World War.

Mr Dodik has previously said he regretted agreeing as a member of the state presidency to extend the mandate of Eufor.

The peacekeeping mandate runs out in November, and it is up to the UN Security Council to decide whether to extend it for another year.

Concerns are growing in the West that Moscow might use its veto to prevent an agreement.

UN court rejects war crimes appeal by ‘Butcher of Bosnia’ Ratko Mladic - video

The Russian embassy in Bosnia on its website decried "unacceptable references" to the impact of events in Ukraine on the situation in Bosnia.

It said Eufor had described the situation as peaceful and stable in its most recent report to the UN Security Council.

"The narrative about the need to expand the Eufor military personnel, including the German troops, is unfounded," the embassy said.

A look at the Nato military alliance - in pictures

It said some western states, mainly the US and Britain, were preparing for a "crawling Nato-isation" of Bosnia.

Eufor replaced Nato peacekeeping troops in Bosnia in 2004.

The European troops are meant to stabilise the country after Bosnia's Serbs, Croats and Bosniaks waged a war for territory in the 1990s, in which 100,000 people died.

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Indoor cricket in a nutshell

Indoor cricket in a nutshell
Indoor Cricket World Cup - Sept 16-20, Insportz, Dubai

16 Indoor cricket matches are 16 overs per side
8 There are eight players per team
9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.
5 Five runs are deducted from the score when a wickets falls
4 Batsmen bat in pairs, facing four overs per partnership

Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.

Zones

A Front net, behind the striker and wicketkeeper: 0 runs
B Side nets, between the striker and halfway down the pitch: 1 run
C Side nets between halfway and the bowlers end: 2 runs
D Back net: 4 runs on the bounce, 6 runs on the full

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.”

Updated: August 17, 2022, 12:18 AM