British lawyer Karim Khan in Najaf in central Iraq during his visit to Grand Ayatollah Ali Sistani. AFP
British lawyer Karim Khan in Najaf in central Iraq during his visit to Grand Ayatollah Ali Sistani. AFP
British lawyer Karim Khan in Najaf in central Iraq during his visit to Grand Ayatollah Ali Sistani. AFP
British lawyer Karim Khan in Najaf in central Iraq during his visit to Grand Ayatollah Ali Sistani. AFP

Vote for global war crimes prosecutor hits controversy


James Reinl
  • English
  • Arabic

International Criminal Court members will on Friday vote for the next prosecutor of a tribunal hit by controversy in recent months over investigations of American and Israeli suspects.

Envoys will vote in a secret poll to choose which of four candidates will replace Fatou Bensouda for a nine-year term when she steps down in June. The race has attracted unusually fierce competition.

Karim Khan, a British lawyer who heads a UN inquiry into ISIS crimes in Iraq, and Ireland's Fergal Gaynor, are tipped as frontrunners. Carlos Castresana of Spain and Francesco Lo Voi of Italy are also running.

Mr Khan has in recent days battled worries over UK policy to its colonial-era Chagos Islands and over whether he would drop cases into atrocities against Palestinians and by US forces in Afghanistan.

Georgetown Law professor Arjun Sethi on Twitter mentioned reservations about Mr Khan because he "may shut down" investigations into "US war crimes in Afghanistan and Israeli war crimes in Palestine".

The ICC last week ruled that it has jurisdiction over crimes committed on Palestinian land, a move that angered Israel. An inquiry into atrocities by Americans in Afghanistan led the Trump administration to sanction on Ms Bensouda and other court officials last year.

The court has mostly handled African cases.

A candidate must gain support from at least 62 of 123 voting ICC members, known as the Assembly of States Parties, to win. The process is the focus of lobbying by governments and campaigners and additional rounds of voting may be needed.

James Goldston, a legal scholar at the Open Society Foundations think tank, said the court had not properly vetted the candidates and that some were not right for the job.

"The election process should have been an important start to enhancing the court's credibility at such a critical point in its institutional development," Mr Goldston said.

“The ASP should urgently set up a permanent vetting mechanism for all future elections, including the election of future prosecutors and judges.”

Based in The Hague, in the Netherlands, the ICC was established in 1998 to prosecute people responsible for genocide, war crimes and crimes against humanity. It is currently pursuing more than a dozen cases across Africa, Asia and Europe.

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Nepotism is the name of the game

Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad. 

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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.”

The Beach Bum

Director: Harmony Korine

Stars: Matthew McConaughey, Isla Fisher, Snoop Dogg

Two stars

TCL INFO

Teams:
Punjabi Legends 
Owners: Inzamam-ul-Haq and Intizar-ul-Haq; Key player: Misbah-ul-Haq
Pakhtoons Owners: Habib Khan and Tajuddin Khan; Key player: Shahid Afridi
Maratha Arabians Owners: Sohail Khan, Ali Tumbi, Parvez Khan; Key player: Virender Sehwag
Bangla Tigers Owners: Shirajuddin Alam, Yasin Choudhary, Neelesh Bhatnager, Anis and Rizwan Sajan; Key player: TBC
Colombo Lions Owners: Sri Lanka Cricket; Key player: TBC
Kerala Kings Owners: Hussain Adam Ali and Shafi Ul Mulk; Key player: Eoin Morgan

Venue Sharjah Cricket Stadium
Format 10 overs per side, matches last for 90 minutes
When December 14-17

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'Avengers: Infinity War'
Dir: The Russo Brothers
Starring: Chris Evans, Chris Pratt, Tom Holland, Robert Downey Junior, Scarlett Johansson, Elizabeth Olsen
Four stars