Cannibalism is not equivalent to regime's crimes


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Syrian fighter's horrible act of cannibalism can't be compared to regime's persistent brutality

"We all saw the appalling video of the Syrian rebel Khalid Al Hamad (known as Abu Sakkar) as he carved into the body of a government soldier, pulled out a piece of flesh which looked like the man's liver or heart, held it to his mouth and apparently took a bite," columnist Ilyas Harfoush wrote in yesterday's edition of the pan-Arab newspaper Al Hayat.

"By any measure, that video showed atrocious inhuman behaviour," Harfoush noted.

Some have blamed YouTube for allowing the video, but others argue that such scenes must be circulated to shock the international community into action and expose the slow, "disingenuous" efforts of superpower diplomacy, the author said.

And, of course, he added, there were also "the sectarians" who were quick to point out that Abu Sakkar is a Sunni while the dead Syrian soldier was, in all likelihood, an Alawite; these people called Abu Sakkar's act a sectarian crime.

But how did Abu Sakkar, an otherwise moderate activist in the early months of the uprising against the rule of President Bashar Al Assad, turn into a wartime cannibal?

"News reports - including one in the UK newspaper The Independent, on Thursday - said that the man was in the forefront of protests in the district of Baba Amr in Homs, standing up against attempts by extremist Islamists from Al Nusra Front to piggyback on the revolution, and against holding banners with sectarian-tinted slogans," the columnist said.

The question about what had changed Abu Sakkar is just a fragment of a larger question, the writer said: how did the peaceful demonstrations that started more than two years ago in Deraa, with legitimate demands for political reform, turn into "a river of blood flooding the streets of Syrian cities everyday"?

"Is this horrific video going to make us forget about the fact that no party is more responsible than the Syrian regime and its repressive machinery for dragging Syrian society to these dark levels of violence," Harfoush asked.

Syrian government squads are smart enough not to record videos of all the atrocities they perpetrate on rebels and innocent civilians. But there is sufficient evidence of that they murder, torture and deface the bodies of women and children, the author said. In various instances, they have been seen dancing over the bodies of their victims or raping women in Baba Amr and Idlib.

Not being able to see regime's cruelties going viral on YouTube should not lead us to the conclusion that what Abu Sakkar did, horrendous as it is, is the most brutal crime that has taken place in Syria, he wrote.

While nothing can justify Abu Sakkar's act, the regime's atrocious precedents have created the dismal backdrop without which this might have never happened, the columnist concluded.

Talks with terrorists a 'disgrace' for Egypt

"The abduction of six security personnel in Rafah was, in itself, an evidence of the weakness of the Egyptian state. Adding insult to injury, the state is now engaging in humiliating negotiations with the abductors," wrote Abdel Nasser Salama, editor-in-chief of the Cairo-based newspaper Al Ahram, in a column yesterday.

Masked gunmen abducted six Egyptian policemen and border guards - in addition to an unidentified person - outside the city of El Arish in Sinai, it was reported last week.

"We are looking here at a state that is bargaining with terrorism and terrorists," Salama wrote.

"We are giving in to thuggery and gang crime … We are witnessing Egypt's worst moment ever, considering what came before and after the revolution - that is the moment of submitting to terrorism."

Ascribing the full responsibility for the abduction and the fate of the victims to the Egyptian army, the writer said it is "a disgrace for the army to make concessions and offer trade-offs as part of an effort to free them."

If those concessions are followed through on, Salama argued, Egypt can expect similar terrorist acts to become part of daily life.

"Terrorism ought to be countered with force - excessive force for that matter," he said. "If the abductors have indeed been located … their hideout must be levelled to the ground, to teach others a lesson."

Hamas-Fatah unity talks raise little hope

"Here we go again: there is speculation that the two main Palestinian factions, Hamas in the Gaza Strip and Fatah in the West Bank, have agreed to seal a reconciliation deal in three months," the Sharjah-based newspaper Al Khaleej said in its editorial yesterday.

"Reconciliation moves have lost all credibility, because those who talk about it can no longer be trusted," the newspaper said.

Similar predictions were made before, Al Khaleej said. Remember the Hamas-Fatah Mecca Agreement of 2007, which provided for urgent formation of a national unity government? Remember the Doha agreement of last year, in which both parties committed to holding general elections later that year?

Fatah, Hamas and reconciliation are nothing but a combination of words that inspires a painful sense of déjà vu, the paper said.

"The Palestinian people no longer buy into this … They have become convinced that their leaders, who are the handlers of their cause, lack commitment and honesty, but are proficient in serving their own interests and preserving their positions, perks, partisan loyalties and foreign connections."

Expect another three months of "procrastination, prevarication and stalling", the newspaper warned.

* Digest compiled by Achraf El Bahi

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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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