A reader urges Pakistan not to humiliate Pervez Musharraf, who once selflessly served the country. T Mughal / EPA
A reader urges Pakistan not to humiliate Pervez Musharraf, who once selflessly served the country. T Mughal / EPA
A reader urges Pakistan not to humiliate Pervez Musharraf, who once selflessly served the country. T Mughal / EPA
A reader urges Pakistan not to humiliate Pervez Musharraf, who once selflessly served the country. T Mughal / EPA

Musharraf a victim of circumstances


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Why is the world’s conscience asleep (Musharraf charged with high treason, April 1)? Pervez Musharraf is credited with making Pakistan the only non-Nato front line ally against the global war on terror, but he is being humiliated and incarcerated in Pakistan.

He was blackmailed earlier while trying to leave Pakistan. He was then charged with treason and the saga goes on. Now the government refuses to take his name off the exit-control list so that he can meet his ailing mother. The Pakistani government is forgetting that Gen Musharraf had voluntarily returned to Pakistan to clear his name from all charges.

According to news reports, barrister Raza Kasuri claimed recently that Gen Musharraf was offered a deal to sign a five-year bond not to return to the country and that only then his name would be removed from the exit-control list. Being a man of integrity, Gen Musharraf has refused to do so.

Waleed Hashmi, Dubai

Provide ‘tools’ for Emiratis to build career

Regarding unemployment rates among young Emiratis (Emiratis need to work hard, April 1) it is interesting to note similar problems in the UK, even with graduates, who face competition of around 70:1 applications for graduate-level jobs.

Working in higher education, it is notable that employers not only look for a good degree and work experience, but also additional evidence of work ethic (community volunteering, leadership, commercial awareness and so on) and for students to demonstrate the ability to self-start and manage their own talent.

I have been leading a fast cycle undergraduate business course for six years, where students have to be motivated and resilient to both work full-time and study by distance learning during their second year. To support them, various behavioural interventions are made to successfully develop the necessary work ethic and mindset of personal responsibility.

As your reader suggests, Governments cannot do everything and, as my experiences show, it is possible to help provide the “tools” for young people to find their own way to successful careers.

Jon Sloper, Nottingham Business School, UK

Will driving culture ever change?

To drive safely requires spatial awareness and thinking ahead as to where you are, where you are going, and where you will need to be up ahead (Other motorists' disregard for traffic rules is driving me crazy, April 4). Think, anticipate and then "do". Too many drivers have no awareness of the vehicles around them (and don't seem to care), so they're never thinking ahead for where they will need to be positioned in traffic. They "think" at the same time they are "doing". Hence the last-second turns across three lanes of traffic next to them.

John Barganier, Abu Dhabi

There are many selfish drivers who have no regard for others’ lives. They think the road belongs to them. We need a lot of police with fine books.

Zaid Ardah, Abu Dhabi

The culture of driving in the UAE is saddening. It’s dangerous, selfish and just plain ridiculous. Every time I see someone driving with a child on the lap, it drives me crazy.

There is no motorway patrol, no regard for the laws of the road. All it needs is some education, common sense, a will to abide by the law and having motorway patrols to implement the law. I saw a person at the traffic division get a 50 per cent reduction on Dh32,000 worth of tickets.

The reason for giving him the discount was that he didn’t have enough money.

Scott Sorensen, Dubai

That an Emirati woman has written this article gives me hope as it starts with the young generation being aware and realising that their driving culture must change.

Sadly after having lived in the UAE for nearly 18 years, I now live in Qatar which is much worse. There is literally anarchy on those roads. And for those myths related to the no speed-limit autobahn in Germany, there are very few actual strips left, most of them do have a limit between 120kph and 130kph.

Christina Heiser, Qatar

In answer to the question posed on Facebook, Do you think there is something fundamentally flawed in the UAE’s overall driving culture?, I would say yes. But what really makes me chuckle is how many articles such as this one are posted on your website inviting readers to comment. Many make very sensible solutions to the problems discussed, but until the people who make the laws take these on board, nothing will change. I believe that while readers like to give their opinion, perhaps their energies could be put to better use on something else rather than a repetitive scenario that has no hope of changing any time soon.

Name withheld by request

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.”

Test squad: Azhar Ali (captain), Abid Ali, Asad Shafiq, Babar Azam, Haris Sohail, Imam-ul-Haq, Imran Khan, Iftikhar Ahmed, Kashif Bhatti, Mohammad Abbas, Mohammad Rizwan(wicketkeeper), Musa Khan, Naseem Shah, Shaheen Afridi, Shan Masood, Yasir Shah

Twenty20 squad: Babar Azam (captain), Asif Ali, Fakhar Zaman, Haris Sohail, Iftikhar Ahmed, Imad Wasim, Imam-ul-Haq, Khushdil Shah, Mohammad Amir, Mohammad Hasnain, Mohammad Irfan, Mohammad Rizwan (wicketkeeper), Musa Khan, Shadab Khan, Usman Qadir, Wahab Riaz 

The specs

Engine: 4.0-litre V8 twin-turbocharged and three electric motors

Power: Combined output 920hp

Torque: 730Nm at 4,000-7,000rpm

Transmission: 8-speed dual-clutch automatic

Fuel consumption: 11.2L/100km

On sale: Now, deliveries expected later in 2025

Price: expected to start at Dh1,432,000

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5