Attack in northern Bahrain



About forty veiled men threw Molotov cocktails at a security patrol on Friday night causing their car to catch fire and burn, yet no policeman was injured, reported the Saudi-owned newspaper Al Hayat in quoting Bahraini authorities. "The terrorists planned to kill the two policemen in the car," said the Police Acting Director General in the Northern Province. The official pointed out that the patrol was at the entrance to Duraz, a village west of the capital Manama. He added that the patrol car was completely burnt, but the two policemen  managed  to leave the car safely. "An investigation into the incident is under way to arrest the perpetrators of this cowardly terrorist act and bring them to justice," he said. Duraz has recently been the scene of clashes between demonstrators and riot police, reported Al Hayat.

The Jordanian newspaper Al Rai carried an opinion article by Fuad Hussein who wrote about the Western viewpoint towards the Holocaust and the sanctity of the prophets, decrying the biased attitude in favour of the former. "This policy is erratic; it gives ground for the Israeli media to lash out in blasphemy against Jesus and Mary in response to statements by a priest questioning the scale of the Holocaust. Reactions of this kind by Israelis were expected because the Christian West itself has created the sacred aura of the Holocaust, yet failed to treat religions and prophets with a similar degree of sacred respect. This has persisted as the West tolerated on many occasions offences against other people's religions. Such behaviour contradicts the freedoms of belief and opinion that the West claims to advocate."

The Qatar-based Al Raiya carried a lead editorial that commented on new developments in the political scene in Somalia which is marked by unilateral ceasefire announced by President Sheikh Sharif Ahmed who also agreed to implement Sharia law as part of his effort to achieve national reconciliation. "The president's call for reconciliation should  receive support from the opposition because their rejection of the present government is baseless. Restoring political and security stability in Somalia is a shared responsibility by all ends of the political spectrum. The two main opposition factions must back the new government and cease fire immediately," the paper commented.

"By the same token, the opposition should work hand in hand with the government and respond positively to the wise advice offered by Muslim scholars. Furthermore, they should come to understand the fact that it is pointless to continue fighting on the grounds of resisting Ethiopian troops while they have already left the country and the remaining troops are African peace forces." The newspaper called for the international community to play a greater role to help Somalia recover from its ordeal.

The Algerian President Abdelaziz Bouteflika erased  all debts, valued at $560 million, owed by farmers to the state, reported the  London-based daily Al Sharq al Awsat. "We decided to write off all  farmers' debts owed to the state and  the Treasury will accordingly re-purchase them. We aim through this decision  to promote the rural sector which we expect will invest more to increase production," Bouteflika announced in a speech.

The agriculture sector has registered a steady annual growth since 2000 which coincided with the launch  of a national campaign aimed at promoting the rural areas. The plan has allowed for expanding agricultural land to more than 500 thousand hectares and providing one million direct and indirect job opportunities. * Digest compiled by Mostapha El Moulouda melmouloudi@thenational.ae

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
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Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed 

Rating: 1/5

COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
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Power: 154bhp

Torque: 250Nm

Transmission: 7-speed automatic with 8-speed sports option 

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Company Profile

Name: JustClean

Based: Kuwait with offices in other GCC countries

Launch year: 2016

Number of employees: 130

Sector: online laundry service

Funding: $12.9m from Kuwait-based Faith Capital Holding

What can you do?

Document everything immediately; including dates, times, locations and witnesses

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SERIES INFO

Afghanistan v Zimbabwe, Abu Dhabi Sunshine Series

All matches at the Zayed Cricket Stadium, Abu Dhabi

Test series

1st Test: Zimbabwe beat Afghanistan by 10 wickets
2nd Test: Wednesday, 10 March – Sunday, 14 March

Play starts at 9.30am

T20 series

1st T20I: Wednesday, 17 March
2nd T20I: Friday, 19 March
3rd T20I: Saturday, 20 March

TV
Supporters in the UAE can watch the matches on the Rabbithole channel on YouTube

Who is Ramon Tribulietx?

Born in Spain, Tribulietx took sole charge of Auckland in 2010 and has gone on to lead the club to 14 trophies, including seven successive Oceania Champions League crowns. Has been tipped for the vacant New Zealand national team job following Anthony Hudson's resignation last month. Had previously been considered for the role. 

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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.”

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Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
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.

Jewel of the Expo 2020

252 projectors installed on Al Wasl dome

13.6km of steel used in the structure that makes it equal in length to 16 Burj Khalifas

550 tonnes of moulded steel were raised last year to cap the dome

724,000 cubic metres is the space it encloses

Stands taller than the leaning tower of Pisa

Steel trellis dome is one of the largest single structures on site

The size of 16 tennis courts and weighs as much as 500 elephants

Al Wasl means connection in Arabic

World’s largest 360-degree projection surface

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How to watch Ireland v Pakistan in UAE

When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.

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