SANA'A // Three inmates were killed and 20 others, including a policemen, were injured in a riot at the central prison in Sana'a yesterday that coincided with more massive demonstrations demanding an end to Yemeni President Ali Abdullah Saleh's rule.
The riot began on Monday evening when inmates went to the main courtyard and began shouting slogans against the prison staff and Mr Saleh's regime. Prisoners took dozens of guards hostage and set ablaze mattresses and blankets, according to security and rights groups sources.
Police fired teargas and live ammunition to subdue the unrest inside one of the country's largest prisons, which houses more than 3,000 inmates.
Abdulrahman Barman, chief of Sajeen, a Sana'a-based non-governmental human rights organisation, said: "I have contacted one of the prisoners and he told me that three persons were killed and about 20 others were injured in renewed clashes."
After the riot, troops beefed up security outside the prison. Police also blocked the street in front of the jail, according to witnesses.
Mr Saleh ordered the attorney general to investigate the riot, the army website reported yesterday, without providing further details.
The prisoners were said to be demanding improved prison conditions, including permission to receive food parcels, medicine and money from their families and permission to make unrestricted telephone calls to relatives.
Meanwhile, hundreds of thousands took to the streets across the country again yesterday in their month-long campaign to end to Mr Saleh's 32-year rule. The protests, which swept 12 provinces, were called by the Joint Meeting Parties, an opposition coalition of six parties, in response to the violent crackdown against protesters camped out in Freedom Square in the province of Ibb on Sunday. The attack left one dead and 52 injured.
Tens of thousands took to the streets in Ibb yesterday, calling on the government to prosecute those responsible for Sunday's attack. Women threw sweets to the protesters from the roofs of their houses, witnesses said.
Local media reported that police and government supporters fired gunshots to disperse the protests, which included students, in the provinces of Lahj, Shabwa and Thamar. Five protesters were reportedly injured in Thamar when they were attacked by government supporters armed with guns, sticks and stones.
In Sana'a, thousands of security and army troops were deployed around Change Square in front of Sana'a University and several main streets. Armoured vehicles were seen at the junctions of the main streets and those leading to the president's office, the central bank, defence ministry and other key government buildings.
Mohammed al Khathaf, 77, who participated in the revolution against the imamate rule in 1962 in north Yemen, said: "I come to this protest every day to support the youths in their demand for an end to the rule of tyrant Ali.
"Our revolution has been spoiled since this man [Saleh] assumed power … we have revolted against oppression … the moment for his overthrow has come and I have great confidence in the resolute youths here," said Mr al Khathaf, standing amid the chanting crowd.
In the port city of Aden, hundreds of women joined a demonstration to denounce the use of violence after a young protester was critically wounded by a bullet to the head during a rally on Monday where more than 20 protesters were arrested.
Mr Saleh declared last month that he would not seek re-election after his term ends in 2013 and would not try to transfer power to his son. Last month, he proposed the setting up of a national unity government, but the opposition rejected the idea, saying it was too late for such measures.
After rejecting an opposition road map for his exit this year, the president called on Monday for national dialogue after meetings with the country's top political and security chiefs. However, the opposition rejected the call and said there would be no dialogue unless Mr Saleh agreed to step down this year.
Violence has marked recent weeks of protests, where government supporters clashed with pro-democracy protesters. About 25 people have been killed in four weeks of protests. Sheikh Abdulwali al Jabri and Sheikh Abdullah Khairat, two MPs in the ruling General People's Congress, resigned yesterday in protest against the violence. Their resignations raises the number of MPs who have quit the party to 17 since the protests started.
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The five pillars of Islam
Killing of Qassem Suleimani
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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.”
BIO
Favourite holiday destination: Turkey - because the government look after animals so well there.
Favourite film: I love scary movies. I have so many favourites but The Ring stands out.
Favourite book: The Lord of the Rings. I didn’t like the movies but I loved the books.
Favourite colour: Black.
Favourite music: Hard rock. I actually also perform as a rock DJ in Dubai.
Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
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