Crimes against women cannot be tolerated

With regard to Taniya Dutta's report Protesting Kolkata doctors claim cover-up in killing of trainee Indian medic after arrest (August 13): The 31-year-old resident doctor killed so brutally while she was on shift at a hospital was a chilling story. It is not surprising that the city of Kolkata and the entire country is protesting against the crime, reminding women once again of how unsafe the streets and even supposed safe places can be.

Doctors are often viewed as the saviours of humanity. Perhaps this case is all the more shocking because the vile treatment of a medical professional has shaken the public even more than other cases of violence against women. The extent of injuries on the body of the deceased doctor were shocking and such a state of affairs is tragic and highly condemnable. It's unacceptable in any society. The police have arrested a civic volunteer, who has reportedly confessed to the crime. The case raises several questions and it is no wonder that protests across cities have disrupted patient care. Crimes against women cannot be tolerated.

K Ragavan, Denver, Colorado

Unending heartbreaks in Gaza

With regard to the editorial Gaza twins' deaths show the brutal cost of diplomatic failure (August 15): The picture of Mohammad Al Qumsan holding the birth certificates of his newborn twins who weren't allowed to live more than mere days is gut-wrenching. The plight of the Palestinians and what they continue to suffer is beyond imagining. It's horrifying how badly the international community is failing in getting this to stop.

Stephanie M, Edinburgh, Scotland

These are such subhuman acts. Can no world power stop Israel, stop killing innocent people and end the occupation.

Ingrid von Seggerb, Bali, Indonesia

Is the US being completely controlled by Israel? Why are they still insisting on supplying Israel the weapons to devastate innocent lives? Why is the US approving $20 billion weapons packages for Israel?

Linda Di, Dubai

This is ghastly. May this grieving father have the strength to endure this unbearable pain. Israel and Hamas must end the war now. More such tragedies have to be prevented.

Vinay Suresh Panthayil

Imane Khelif: victory is hers

With reference to Steve Luckings's report Imane Khelif: Olympic champion names Elon Musk and JK Rowling in cyberbullying lawsuit (August 14): Great to see the Algerian boxer Imane Khelif emerge victorious with a gold medal. It was well-deserved after a really difficult and stressful Olympics journey. She has much to be proud of.

Ellias Kad, Dubai

Nayanthara: Beyond The Fairy Tale

Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni

Director: Amith Krishnan

Rating: 3.5/5

The specs

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On sale: December

Price: From Dh330,000 (estimate)

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.”