Bahrain activist on hunger strike, daughter arrested



MANAMA // Bahraini authorities detained prominent human rights activist Maryam Al Khawaja on Saturday on her arrival at the Gulf state’s airport, her mother said.

Ms Al Khawaja is the daughter of Shiite Muslim activist Abdulhadi Abdulla Hubail Al Khawaja, who has been detained since 2011 and has been on a hunger strike for a week seeking release.

“Maryam told me that she will be transferred to the court tomorrow,” her mother, Khadija Al Musawi said. Ms Al Khawaja holds dual Bahraini and Danish citizenship and was coming back from Denmark when she was arrested.

Charges against Ms Al Khawaja include insulting Bahrain’s king, and assaulting a policewoman at the airport, her mother said.

Bahraini authorities did not comment but state news agency BNA cited chief prosecutor of Al Muharraq province, Abdullah Al Dossary, as saying that the public prosecution had begun an investigation into a complaint by Bahrain airport’s police.

The complaint said that an “accused woman” had been detained at the airport based on a previously issued arrest warrant. It said that the accused had assaulted a lieutenant and a policewoman after she refused to hand over her phone during a search. The report did not name Ms Al Khawaja.

Mr Dossary was cited as saying that the accused was charged with assaulting a public employee while carrying out his official duty and would be detained for seven days pending an investigation.

On Sunday, the lawyer of Ms Al Khawaja’s father confirmed that “Abdulhadi is continuing with the hunger strike he began on August 25” in Jaw prison near Manama.

Jailed for life for plotting to overthrow the monarchy, Mr Al Khawaja staged a 110-day hunger strike in 2012 over his imprisonment.

He is among defendants handed lengthy jail sentences for their role in the 2011 protests. Seven of them, including Mr Al Khawaja, have been jailed for life while another seven remain at large.

Bahrain, a base for the US Navy’s Fifth Fleet, has been in turmoil since protests led by Shiite Muslims erupted in 2011 after similar unrest in Egypt and Tunisia.

Shiites, who make up the majority of Bahrain’s population, complain of political and economic marginalisation, an accusation the government denies. Talks between the government and opposition have failed to defuse the political tensions.

In July, Bahrain declared US assistant secretary of state for democracy, human rights and labour Tom Malinowski, persona non grata after he met opposition figures in the kingdom.

* Reuters, with additional reporting from Agence France-Presse

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The specs

Engine: Direct injection 4-cylinder 1.4-litre
Power: 150hp
Torque: 250Nm
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UAE currency: the story behind the money in your pockets
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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.

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“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.”

THE LIGHT

Director: Tom Tykwer

Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger

Rating: 3/5

Company profile

Date started: 2015

Founder: John Tsioris and Ioanna Angelidaki

Based: Dubai

Sector: Online grocery delivery

Staff: 200

Funding: Undisclosed, but investors include the Jabbar Internet Group and Venture Friends

The figures behind the event

1) More than 300 in-house cleaning crew

2) 165 staff assigned to sanitise public areas throughout the show

3) 1,000 social distancing stickers

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Director: Laxman Utekar

Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna

Rating: 1/5

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Match info

Bournemouth 1 (King 45 1')
Arsenal 2 (Lerma 30' og, Aubameyang 67')

Man of the Match: Sead Kolasinac (Arsenal)