Schoolboy stabbed in ‘racially motivated’ attack outside UK mosque



A teenage boy is fighting for his life after being repeatedly stabbed outside a mosque in Birmingham, in an attack which is suspected to have been racially motivated.

The 14-year-old schoolboy was stabbed in the neck and head outside the Idara Maarif E Islam mosque in the Small Heath area, witnesses said. The attack took place at around 1am on Saturday.

The boy was taken to hospital suffering life-threatening injuries, and remains in a critical condition.

A 29-year-old man has been arrested on suspicion of attempted murder.

Witness Azhar Kiana told the Birmingham Mail newspaper: "There was a young man who was brutally beating the boy with a knife. There was blood everywhere — he was hitting the boy's neck and head. Then the attacker ran off and got into a car."

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Around 200 children were at the centre to attend a youth event. It is believed the victim’s father had dropped him off earlier in the evening.

Mosque elders fear the attack was “racially motivated”.

Adnan Khan, information secretary for the mosque, said: "We believe this was a racist attack and the young lad was in the wrong place at the wrong time.

"We had been advised about security and now have knife scanners at the entrance to the halls, but obviously nothing in the street.

"We believe they were lying in wait for someone to attack."

Detective Inspector Jim Colclough from the complex crime investigation team at Bournville Lane police station said: “Our investigation is progressing quickly but it is still in the early stages. We do not believe it to be terror-related. The motivation for the attack is not yet known, we are keeping an open mind as to whether it could be racially or religiously motivated.

“We are working closely with local communities and have increased our local police presence in the area to provide reassurance and be on hand to answer any questions or concerns that people may have.

“It is tragic event which has left a young boy in hospital fighting for his life. We’ve spoken to a number of witnesses but would continue to urge anyone who was in the area and saw what happened, or has any other information which may help our investigation to contact me or my team."

Senior officials from a number of Muslim groups issued a statement following the attack, urging the city's communities to unite against hate, the Birmingham Mail reported.

"We recognise this is a difficult time for the local community, who have many concerns about the motive behind the attack, but we urge all in our communities to remain calm while the police establish the facts," said the statement to which more than 50 signatories put their names, including Mohammed Kozbar, chairman of trustees at London's Finsbury Park Mosque.

“Let us, as representatives of Britain’s diverse Muslim communities, send a clear message to the attackers: your hatred and your actions disgust us."

“You will not divide the unity that we as faith communities enjoy and have worked hard to establish. And you will not stop Islam from being practised in all its beautiful diversity."

'Outclassed in Kuwait'
Taleb Alrefai, 
HBKU Press 

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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