Iran's Interior Minister Ahmad Vahidi visited the scene of a shooting at a Shiite shrine in Shiraz on Monday, which left one killed and eight injured, Iranian state news reported.
Mr Vahidi, a former commander of Iran's Islamic Revolutionary Guard Corps, was appointed to lead the investigation into Sunday's attack. He said he would visit the injured in hospital and that Iran's “enemies” would not succeed in their aims to destabilise the country.
“One person has been killed and eight others wounded in the attack,” official news agency IRNA reported, quoting deputy Fars governor Esmail Ghezel Sofla.
The wounded “have been transferred to medical centres and are undergoing treatment”, IRNA said.
Earlier, it said four people were killed but retracted the initial report.
The reports said two “terrorists” entered the shrine with guns, one of whom had been apprehended, according to state media.
The semi-official Tasnim news agency said at least seven people were wounded and shops in the area had been closed. State TV said the shrine area had been cordoned off by security forces.
It said Mr Vahidi had dismissed the deputy interior minister for political affairs, Mohammad Reza Gholamreza, following the attack, and had met with local officials to discuss the investigation.
Mr Vahidi is himself wanted by Interpol in connection with the 1994 bombing of a Jewish community centre in Buenos Aires that left 85 dead. At the time he was an operative with the Quds Force, a branch of the IRGC tasked with “irregular warfare” operations.
State news agency Irna posted a photo of bullet holes in glass panes at the entrance to the shrine on X, formerly known as Twitter.
There was no immediate claim of responsibility for the attack.
Also posting on X, Foreign Minister Hossein Amirabdollahian wished those injured a swift recovery and warned that “a painful end awaits the perpetrators and supporters of this crime”.
The Shah Cheragh mausoleum is home to the tomb of Ahmad, brother of Imam Reza – the eighth Shiite imam – and is considered the holiest site in southern Iran.
An attack on the Shah Cheragh mosque in October 2022, claimed by ISIS, killed 13 people.
Authorities in Shiraz publicly hanged two men convicted of involvement in that attack last month.
Three others were sentenced to prison terms ranging from five to 25 years.
The lone gunman, said to be from Tajikistan, died in a hospital from injuries sustained during the attack.
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Tips to stay safe during hot weather
- Stay hydrated: Drink plenty of fluids, especially water. Avoid alcohol and caffeine, which can increase dehydration.
- Seek cool environments: Use air conditioning, fans, or visit community spaces with climate control.
- Limit outdoor activities: Avoid strenuous activity during peak heat. If outside, seek shade and wear a wide-brimmed hat.
- Dress appropriately: Wear lightweight, loose and light-coloured clothing to facilitate heat loss.
- Check on vulnerable people: Regularly check in on elderly neighbours, young children and those with health conditions.
- Home adaptations: Use blinds or curtains to block sunlight, avoid using ovens or stoves, and ventilate living spaces during cooler hours.
- Recognise heat illness: Learn the signs of heat exhaustion and heat stroke (dizziness, confusion, rapid pulse, nausea), and seek medical attention if symptoms occur.
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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.”
Jetour T1 specs
Engine: 2-litre turbocharged
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Profile
Name: Carzaty
Founders: Marwan Chaar and Hassan Jaffar
Launched: 2017
Employees: 22
Based: Dubai and Muscat
Sector: Automobile retail
Funding to date: $5.5 million