Saudi journalist Jamal Khashoggi was killed in Istanbul in 2018. AP
Saudi journalist Jamal Khashoggi was killed in Istanbul in 2018. AP
Saudi journalist Jamal Khashoggi was killed in Istanbul in 2018. AP
Saudi journalist Jamal Khashoggi was killed in Istanbul in 2018. AP

Gulf

Saudi Arabia

France releases Saudi Arabian national after embassy denies link to Khashoggi murder

The embassy pointed out that those involved in the 'heinous murder' are currently serving sentences in Riyadh

The National

December 08, 2021

  • English
  • Arabic

French authorities on Wednesday released a man arrested on suspicion of playing a role in the 2018 murder of Saudi journalist Jamal Khashoggi in Istanbul after determining he had been a victim of mistaken identity.

The man, bearing a passport in the name of Khalid al-Otaibi, was arrested by French border police at Paris's main airport on Tuesday as he prepared to board a flight to Riyadh.

Police and judicial sources initially told French media that he was the Khalid al-Otaibi wanted under an international arrest warrant for being part of the hit squad that carried out Khashoggi's murder.

"In-depth verifications to determine the identity of this person have enabled us to establish that the warrant was not applicable to him," the chief prosecutor in Paris, Remy Heitz, said in a statement that admitted to the blunder.

"He has been released," it added,

Saudi Arabia has denied that a citizen arrested in France on Tuesday was connected to the 2018 murder of journalist Jamal Khashoggi, saying it expects the man to be released shortly.

French radio RTL said the Saudi citizen was arrested at Roissy airport near Paris as he was trying to board a flight to Riyadh. A French judicial official told the Associated Press that a man was detained on a Turkish arrest warrant.

The Saudi embassy in Paris said media reports about the case were wrong and that the arrested man “had nothing to do with the case in question”. It said the embassy expects his immediate release.

The embassy also said that those responsible for the 2018 murder of Khashoggi had already faced trial and been sentenced in Riyadh.

“The embassy would also like to reaffirm that the Saudi judiciary has issued verdicts against all those who participated in the heinous murder of Jamal Khashoggi, all of them are currently serving their sentences.”

There was no immediate comment from Turkey over the arrest, but last year it began trying 26 Saudi citizens in their absence over Khashoggi’s murder in Istanbul.

Khashoggi was killed on October 2, 2018, after he entered the Saudi consulate in Istanbul.

Saudi Arabia said the murder was an unsanctioned operation by security officials and the Kingdom has since reformed the leadership of its top intelligence agencies in an attempt to prevent such an incident from happening again.

Following the trial in Saudi Arabia, which was attended by foreign diplomats, Khashoggi’s family said that justice had been served and that they had forgiven his killers.

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Pox that threatens the Middle East's native species

Camelpox

Caused by a virus related to the one that causes human smallpox, camelpox typically causes fever, swelling of lymph nodes and skin lesions in camels aged over three, but the animal usually recovers after a month or so. Younger animals may develop a more acute form that causes internal lesions and diarrhoea, and is often fatal, especially when secondary infections result. It is found across the Middle East as well as in parts of Asia, Africa, Russia and India.

Falconpox

Falconpox can cause a variety of types of lesions, which can affect, for example, the eyelids, feet and the areas above and below the beak. It is a problem among captive falcons and is one of many types of avian pox or avipox diseases that together affect dozens of bird species across the world. Among the other forms are pigeonpox, turkeypox, starlingpox and canarypox. Avipox viruses are spread by mosquitoes and direct bird-to-bird contact.

Houbarapox

Houbarapox is, like falconpox, one of the many forms of avipox diseases. It exists in various forms, with a type that causes skin lesions being least likely to result in death. Other forms cause more severe lesions, including internal lesions, and are more likely to kill the bird, often because secondary infections develop. This summer the CVRL reported an outbreak of pox in houbaras after rains in spring led to an increase in mosquito numbers.

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United States

2.

China

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UAE

4.

Japan

5

Norway

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Canada

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Singapore

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Australia

9.

Saudi Arabia

10.

South Korea

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.”

Updated: December 08, 2021, 4:50 PM
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