Singer Alicia Keys attended a drive-in campaign rally in Phoenix, Arizona with Vice President-elect Kamala Harris in October 2020. AFP
Singer Alicia Keys attended a drive-in campaign rally in Phoenix, Arizona with Vice President-elect Kamala Harris in October 2020. AFP
Singer Alicia Keys attended a drive-in campaign rally in Phoenix, Arizona with Vice President-elect Kamala Harris in October 2020. AFP
Singer Alicia Keys attended a drive-in campaign rally in Phoenix, Arizona with Vice President-elect Kamala Harris in October 2020. AFP

'17 More Ways': Music stars led by Alicia Keys call for Biden-Harris administration to create racial justice commission


Katy Gillett
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In a video entitled 17 Ways Black People Are Killed in America, music stars led by Alicia Keys have called for the creation of a US government commission on racial justice within 100 days of the start of the Biden administration.

Keys, who went on the campaign trail with Vice President-elect Kamala Harris back in October, also led a video in 2016 called 23 Ways You Could Be Killed By Being Black in America, in which celebrities such as Beyonce and Bono highlighted the circumstances in which black Americans such as Sandra Bland and Philando Castile had died.

In this new video, stars including Mary J Blige, Khalid and TI do the same, raising awareness of the circumstances surrounding the tragic deaths of George Floyd, Ahmaud Arbery, Breonna Taylor and more.

"I can't believe I'm back four years later with 17 more ways you can be killed," says Keys at the beginning of the video.

"More than 1,000 people were killed by current or former police officers in 2020," reads a caption. "The lives lost to police violence are disproportionately black and brown people."

The video, on behalf of the #breathewithme Revolution and Black Music Action Coalition, goes on to ask for the establishment of a commission that "leads to restorative and reparative action in order to achieve racial justice".

This was first proposed by Northern California representative Barbara Lee in the US House of Representatives in June 2020. It was entitled the United States Commission on Truth, Racial Healing and Transformation.

Lee's proposal stated this new commission would "properly acknowledge, memorialise, and be a catalyst for progress, including toward permanently eliminating persistent racial inequities".

'It makes me physically sick'

A similar message was heard from Stevie Wonder on Monday, January 18, marking Martin Luther King Jr Day.

Addressing King, Wonder said in a video posted to his Twitter account: "You would not believe the lack of progress. It makes me physically sick. I am sick that politicians try to find an easy solution to a 400-year problem."

He added: "We need a truth commission that forces this country to look at its lies ... I’m calling on President Biden and Vice President Harris to launch a formal government investigation to establish the truth of inequality in this country."

Ms Yang's top tips for parents new to the UAE
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The five pillars of Islam

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5. Zakat 

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The candidates

Dr Ayham Ammora, scientist and business executive

Ali Azeem, business leader

Tony Booth, professor of education

Lord Browne, former BP chief executive

Dr Mohamed El-Erian, economist

Professor Wyn Evans, astrophysicist

Dr Mark Mann, scientist

Gina MIller, anti-Brexit campaigner

Lord Smith, former Cabinet minister

Sandi Toksvig, broadcaster

 

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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Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

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