Sudanese security forces have shot and killed a teenager during a crackdown on rallies against last year's military coup, medics said.
Regular mass protests have taken place across Sudan since a military coup on October 25 led by army chief Abdel Fattah Al Burhan.
"Babiker Al Rashid, 17, was killed in Omdurman after he was hit at a close range by a live bullet to the chest by coup authorities," said the Central Committee of Sudan Doctors, a group aligned with the protest movement.
It brings the number of people killed in the clampdown on anti-coup protests to 89, the committee said.
The military coup derailed a fragile power-sharing agreement between the army and civilians negotiated after the 2019 ouster of longtime autocrat Omar Al Bashir.
Monday's protests were staged mainly in the capital Khartoum and its neighbouring cities of Omdurman and North Khartoum.
Security forces fired teargas to quell the protests, witnesses said.
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A man flashes the victory sign during a protest in Khartoum to denounce the October 2021 military coup in Sudan. AP -

The UN said it would hold talks in Sudan to try to set the country's transition to democracy back on track. AP -

A Sudanese man , in the capital Khartoum holds a poster that reads in Arabic: ‘No to the use of live bullets against the unarmed’ during a protest against the October 2021 military coup. AFP -

A Sudanese woman carries a child during a protest against the October 2021 military coup. AFP -

The coup on October 25, led by army chief General Abdel Fattah Al Burhan, derailed a power-sharing transition between the military and civilians that had been painstakingly established after longtime dictator Omar Al Bashir was removed in 2019. AFP -

People chant slogans during a protest to denounce the coup. AP -

A Sudanese man carries the national flag during an anti-coup demonstration. AFP -

People chant slogans during a protest to denounce the military takeover. AP -

Sudanese protesters walk past burning tyres during a rally. AFP -

A mask-clad Sudanese protester attends a demonstration. AFP
Monday's protests came as US Treasury undersecretary Brian Nelson said Washington had imposed sanctions on Sudan's Central Reserve Police (CRP) over its use of "excessive force against pro-democracy protesters". Under the sanctions, any CRP assets in the US will be frozen.
Sudanese authorities have repeatedly denied opening fire on protesters.
Sudanese teachers and doctors have recently staged strikes against security forces to protest violence and the worsening living conditions.
Last year's military power grab has drawn wide international condemnation and cuts of crucial aid, which deepened the economic crisis in Sudan where prices of bread, fuel, and electricity have skyrocketed.
On Monday, Gen Al Burhan headed to Saudi Arabia for talks after a similar trip to the UAE where he discussed his country's ailing economy.
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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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