Bassem Youssef is returning to Piers Morgan Uncensored. Two weeks after his viral interview, in which he gave his opinion on the Israel-Gaza war with a satirical take describing the conditions Palestinians in Gaza are facing and the threat of more attacks from the Israeli military, the Egyptian comedian has been interviewed by Piers Morgan once again, in a conversation that yet to be aired.
This time, Youssef has spoken to the British host in person. Youssef has posted pictures of himself and Morgan at The Comedy Store in Los Angeles on Instagram, promising “a deep calm conversation about a very complicated issue”.
“I tried to talk to an audience who never get exposed to our side of the story. No sound bites, no trending phrases, no attempts to score points for reach and views . Just an attempt to have our voices heard. I hope it will be something that will be used for a longer time, not just for the heat of the moment. I think it will be aired tomorrow,” Youssef wrote in the caption.
The original interview, which was posted on YouTube on October 18, has raked in more than 20 million views to date. Morgan has said that it is his most-watched interview since his show was launched last year.
On October 20, Youssef has suggested they do a “round two” and said he “truly enjoyed” their conversation, in a post on X, formerly known as Twitter, in response to Morgan.
“Let’s have a one-on-one interview in the studio over coffee and without a faulty ear piece. Who could have imagined? Until last March I was blocked by you on Twitter (I deserved it). You were very gracious about it even though you discovered it a minute before we went on air. But since then we have had wonderful conversations,” Youssef wrote.
He also added that he “hates” Piers’s views, but said talking to him was an “absolute joy”.
Twenty eight thousand people retweeted the suggestion, leading to – as Youssef put it – "round two".
In the original interview, Youssef shared that his wife, who is half Palestinian, still had family in Gaza, who he referenced when Morgan asked about his opinion on the Hamas attacks.
“Oh, it was terrible, of course,” Youssef replied. “I mean, we get all our news second-hand because my wife’s family lives in Gaza. They have cousins and uncles there and their house also was bombed.
“We haven't been able to communicate with them in the past three days. Communication has been lost so we don't know how they are doing, but we are used to that.”
Bassem then switched gears, taking on a satirical stance as he attempted to highlight the struggles Palestinians have been facing under Israel.
“Those Palestinians, they’re very dramatic. ‘Ah, Israel is killing us,’ but they never die,” he declared. “I mean, they always come back. They’re very difficult to kill, very difficult people to kill. I know, because I’m married to one. I tried many times. I try to get to her every time, but she uses our kids as human shields.”
Although Morgan noted that Youssef was using “dark humour” in response, he asked the comedian to be serious about the topic.
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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