UAE extradites first suspect to UK



ABU DHABI // In the first case of a suspect being extradited from the UAE to Britain, a Dubai resident accused of stabbing a man to death in Birmingham three years ago has been flown back to the UK to face charges. The countries ratified a reciprocal extradition treaty last year. The UAE has signed a number of such agreements with other countries in recent years as it seeks to make it more difficult for foreign criminals to find refuge here.

Jeleel Ahmed, 27, a British national, arrived in London on Thursday where he was immediately charged with murder, West Midlands Police confirmed yesterday. "The man was successfully extradited from the United Arab Emirates, landing at Heathrow Airport on Thursday August 20. This is the first time somebody has been extradited to the UK from the UAE," they said. Mr Ahmed is accused of being part of a gang of hooded youths who attacked and killed Shanwaz Ali, 23, outside his home in Birmingham in January 2006.

Mr Ali, a British national of Pakistani origin, was repeatedly stabbed after getting out of his car outside his home in the early hours of the morning. His father, a prominent activist for the UK's Labour Party, found him slumped in a pool of blood, before rushing him to hospital where he died. Mr Ahmed was arrested and questioned during initial investigations, but released due to a lack of evidence and left the country shortly after, said Detective Inspector Steve Bimson, who travelled to the UAE last week to finalise the extradition.

"We are now confident that further evidence linking him to the murder is available, that wasn't at the time," Det Insp Bimson said. "That's why we started looking for him again." Mr Ahmed travelled to Dubai shortly after being questioned in connection with the murder. He was working in a "steady job" in the city and living under his real name, Det Insp Bimson said. He was arrested shortly after the British government requested his extradition in late 2008, after being tracked down by Dubai Police. He remained in prison in the UAE until he was flown back to Britain last week.

In 2007, two other suspects, Mohammed Shakil and Muddassir Zaman, were sentenced to life in prison by a British court for the murder. The motive of the attack remains unclear, but police believe Mr Ahmed may have been involved in a dispute with Mr Zaman over compensation for a car accident. The victim, stabbed only days after his 23rd birthday, suffered from muscular dystrophy, which made it difficult for him to walk.

Mr Ahmed has been remanded in custody and is due to appear at Birmingham Crown Court on September 17. The British government has launched a high-profile campaign to tackle knife crime in its largest cities, but has failed to significantly reduce the number of fatal stabbings. The treaty ratified by the UAE and Britain stipulates that a wanted person may be extradited to either country "if the conduct on which the offence is based is punishable under the laws of both parties by deprivation of liberty for a period of at least one year". However, Britain declines to extradite those that may face the death penalty unless assurances are given that it will not be imposed.

lmorris@thenational.ae

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At the start of Russia's invasion, IEA member countries held 1.5 billion barrels in public reserves and about 575 million barrels under obligations with industry, according to the agency's website. The two collective actions of the IEA this year of 62.7 million barrels, which was agreed on March 1, and this week's 120 million barrels amount to 9 per cent of total emergency reserves, it added.

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Corporate Leadership: Carl Bistany (Lebanon)

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GP3 race, 12:30pm

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Formula 2 race, 6:40pm

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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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