MURSITPINAR, TURKEY // Kurdish fighters backed by airstrikes fought off ISIL militants for another day on Sunday in some of the heaviest clashes for control of a strategic town in Syria.
ISIL is trying to seize the predominantly Kurdish town of Kobani and has ramped up its offensive in recent days despite being targeted by US-led coalition airstrikes aimed at halting its progress.
On Sunday, its forces battled Kurdish fighters for control of Mistanour, a strategic hill overlooking the town, and intense shelling and heavy machine-gun fire were audible around Kobani, known as Ain Al Arab in Arabic.
“The situation in Kobani has been bad in the past three days and today is the worst,” Idris Nassan said.
“The clashes are very heavy, there is bomb shelling, they are trying hard to get inside the city of Kobani. The YPG is responding strongly,” he said, referring to Kurdish forces.
He said the ISIL fighters were only one kilometre away to the south-east of the town.
Just across the border from Kobani, at least five people were wounded in a Turkish village close to the Mursitpinar crossing when a projectile from the fighting slammed into a house.
Turkish territory has repeatedly been hit by stray fire since the Kobani fighting erupted more than two weeks ago and Turkey has vowed to defend its borders. But up until now it has been reluctant to intervene.
A translator with the Kurdish Democratic Union Party (PYD) inside Kobani said ISIL forces were hitting Mistanor hill with tank and mortar fire as they tried to seize high ground from which they could dominate the streets below.
Kurdish forces had so far checked the advance, Parwer Mohammed Ali said, adding that there had been fresh airstrikes on ISIL positions overnight. “They struck three or four times in the vicinity of Mistanour hill,” he said.
The Britain-based Syrian Observatory for Human Rights, which monitors the conflict, said at least 11 Kurdish fighters and 16 ISIL insurgents were killed in the overnight clashes.
Saudi Arabia, the UAE and three other Arab countries have joined an American-led coalition that is conducting airstrikes against ISIL’s positions in Syria.
Saudi Arabia’s King Abdullah said on Sunday that religious extremism is a perversion that must be eradicated.
“Extremism, which has generated terrorism, behoves us to combine our efforts to fight it and defeat it because it has nothing to do with Islam,” the king said in an address delivered by Crown Prince Salman bin Abdul Aziz, who also holds the defence portfolio.
“And we are engaged in eradicating it unwaveringly and with determination.”
Despite the military intervention, a stalemate still exists in Iraq, with territory regularly switching hands between the Iraqi government and ISIL.
Iraqi security officials and witnesses said on Sunday that ISIL fighters seized back half of Dhuluiya, 70 kilometres north of Baghdad, just a day after Iraqi military forces recaptured the town on the banks of the river Tigris.
In Syria, ISIL launched its new offensive to capture Kobani two weeks ago. It has seized hundreds of villages around the town, forcing 180,000 people to flee into Turkey.
Families have taken up residence in muddy fields, abandoned shops, parks and mosques, adding to Turkey’s mounting humanitarian crisis, which has seen refugee numbers in the whole country swell to 1.5 million since the Syrian war began.
“We fled in fear and now we are stranded here with no work and little money. We are too ashamed to ask for help,” said Anwar Shehnebi, 43, a teacher and farmer with eight children.
Speaking in the Turkish town of Suruc, 10 kilometres from the border, Mr Shehnebi said ISIL had seized vehicles from civilians, threatening the livelihood of farmers.
ISIL “has nothing to do with Islam. The Arabs don’t like them but they are scared of them”, he said.
Kurds have called for help from Turkey and more US-led raids but cooperation is complicated by Syrian Kurds’ ties to the PKK – deemed a terrorist group by many western states.
Turkish military patrols were visible west of Kobani on Sunday but there was no sign of significant troop movements. Tanks that last week were deployed along the frontier had returned to their base.
Further west in Syria, government warplanes bombed towns in the countryside north of Aleppo, which the Syrian military is seeking to recapture from a mix of insurgent groups.
Last week, the Syrian army made a new advance on Aleppo, seizing three villages north of the city and threatening rebel supply lines in a potentially major reversal.
Bashar Al Assad’s army has intensified an offensive in the heavily-populated western areas of Syria as US-led warplanes concentrate on areas in the north and east — ISIL areas that Damascus sees as less important.
Clashes took place between the Syrian army and ISIL around Kowaires military airbase in Aleppo, the Observatory said, after Syrian warplanes carried out raids around it.
In the industrial city of Sheikh Najjar, north-east of Aleppo, Islamist groups including the Al Qaeda-affiliated Jabhat Al Nusra Front fought with government forces backed by pro-Assad militias and fighters from the Shiite Lebanese group Hizbollah, the Observatory said.
* Reuters with additional reporting by the Associated Press, and Agence France-Presse
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Read more from Aya Iskandarani
The biog
Place of birth: Kalba
Family: Mother of eight children and has 10 grandchildren
Favourite traditional dish: Al Harees, a slow cooked porridge-like dish made from boiled cracked or coarsely ground wheat mixed with meat or chicken
Favourite book: My early life by Sheikh Dr Sultan bin Muhammad Al Qasimi, the Ruler of Sharjah
Favourite quote: By Sheikh Zayed, the UAE's Founding Father, “Those who have no past will have no present or future.”
if you go
Two products to make at home
Toilet cleaner
1 cup baking soda
1 cup castile soap
10-20 drops of lemon essential oil (or another oil of your choice)
Method:
1. Mix the baking soda and castile soap until you get a nice consistency.
2. Add the essential oil to the mix.
Air Freshener
100ml water
5 drops of the essential oil of your choice (note: lavender is a nice one for this)
Method:
1. Add water and oil to spray bottle to store.
2. Shake well before use.
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Emergency
Director: Kangana Ranaut
Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry
Rating: 2/5
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EKinetic%207%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202018%3Cbr%3E%3Cstrong%3EFounder%3A%3C%2Fstrong%3E%20Rick%20Parish%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Abu%20Dhabi%2C%20UAE%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Clean%20cooking%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20%2410%20million%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Self-funded%3C%2Fp%3E%0A
Suggested picnic spots
Abu Dhabi
Umm Al Emarat Park
Yas Gateway Park
Delma Park
Al Bateen beach
Saadiyaat beach
The Corniche
Zayed Sports City
Dubai
Kite Beach
Zabeel Park
Al Nahda Pond Park
Mushrif Park
Safa Park
Al Mamzar Beach Park
Al Qudrah Lakes
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
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.”