Muslim worshippers gather after a suicide bomber detonated a device near the security headquarters of the Prophet's Mosque in Medina, Saudi Arabia, July 4, 2016. Reuters
Muslim worshippers gather after a suicide bomber detonated a device near the security headquarters of the Prophet's Mosque in Medina, Saudi Arabia, July 4, 2016. Reuters

Youth can be vulnerable to radical ideas



After the string of suicide bomb attacks in Saudi Arabia last week, a picture of some of the bombers is emerging. Saudi police have named the man who carried out the attack outside the Prophet Mohammed Mosque as a 26-year-old Saudi citizen called Nayer Musallam Al Bluwi. He had a history of drug abuse and had been fired from his job with the Border Guard several years ago.

Terrorist attacks by those with criminal records is nothing new. Many of those who have committed attacks in the Middle East and abroad have spent time in prison for crime. Many of the Europeans and Arabs who have joined ISIL have had criminal records – in their warped imagination, joining a “religious” organisation somehow wipes clean their past sins.

Such damaged young men are easy prey for radical groups. Because of their lack of understanding of religion, they are vulnerable to radical interpretations, particularly when delivered by groups that offer them camaraderie (such as ISIL or Al Qaeda) or by especially charismatic preachers.

Into that latter category fall clerics such as Yousuf Al Qaradawi in Qatar, who has been engulfed in a social media storm after what appeared to be support for suicide bombings such as the ones in Saudi Arabia. He has been widely scorned on Twitter, particularly by young people for using Islam for his own political ends. The fact that the cleric is affiliated to the Muslim Brotherhood is particularly worrying, given the Brotherhood’s long-standing association with violence.

There is a serious problem with legitimate religious instruction being crowded out by radical interpretations. Institutions of learning such as Al Azhar and mainstream clerics, often using carefully modulated language, cannot compete with groups such as ISIL, who use slick videos and images and easily digestible slogans. In the battle for hearts and minds, the mainstream faces challenges. If educated young men and women can believe preachers such as Dr ­Qaradawi, how much more likely are those with vulnerabilities like drug abuse?

The silver lining in this is that there does appear to be a shift among the youth, who are increasingly calling out these extremists on social media. That is to be welcomed. But they must be supported by better messaging from institutions of religious learning.

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Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
Rating: 2/5
 
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MATCH INFO

England 241-3 (20 ovs)

Malan 130 no, Morgan 91

New Zealand 165 all out (16.5ovs)

Southee 39, Parkinson 4-47

England win by 76 runs

Series level at 2-2

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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If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.

When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.

How to get there: Emirates currently flies from Dubai to Orlando five times a week.
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
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1. Cecilie Hatteland (NOR) atop Alex - 31.46 seconds

2. Anna Gorbacheva (RUS) atop Curt 13 - 31.82 seconds

3. Georgia Tame (GBR) atop Cash Up - 32.81 seconds

4. Sheikha Latifa bint Ahmed Al Maktoum (UAE) atop Peanuts de Beaufour - 35.85 seconds

5. Miriam Schneider (GER) atop Benur du Romet - 37.53 seconds

6. Annika Sande (NOR) atop For Cash 2 - 31.42 seconds (4 penalties)

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Label: Warner Records

Number of tracks: 11

Rating: 4/5

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