• Taylor Swift performs at Wembley Stadium in London as part of her Eras Tour. Getty Images
    Taylor Swift performs at Wembley Stadium in London as part of her Eras Tour. Getty Images
  • Swifties, the name given to fans of the US singer, arrive at the stadium. AP
    Swifties, the name given to fans of the US singer, arrive at the stadium. AP
  • London has increased security at the concerts after a terrorist plot was uncovered before Swift's shows in Austria. AP
    London has increased security at the concerts after a terrorist plot was uncovered before Swift's shows in Austria. AP
  • Swift's shows in London will complete the European leg of her tour. Getty Images
    Swift's shows in London will complete the European leg of her tour. Getty Images
  • She is to perform five concerts in the UK capital. Getty Images
    She is to perform five concerts in the UK capital. Getty Images
  • A police officer wears friendship bracelets while patrolling near Wembley. Reuters
    A police officer wears friendship bracelets while patrolling near Wembley. Reuters
  • Fans cheer as Swift performs on stage. PA
    Fans cheer as Swift performs on stage. PA
  • Fans outside Wembley Stadium. The arrival of Swift is set to boost London's hospitality sector. PA
    Fans outside Wembley Stadium. The arrival of Swift is set to boost London's hospitality sector. PA
  • A crowd of Swifties descend on Wembley. AP
    A crowd of Swifties descend on Wembley. AP
  • Swift memorabilia on sale outside the stadium. Getty Images
    Swift memorabilia on sale outside the stadium. Getty Images
  • A fan takes a picture of a Swift-themed Tube map in London. EPA
    A fan takes a picture of a Swift-themed Tube map in London. EPA
  • Fans at a mural outside Wembley Stadium. EPA
    Fans at a mural outside Wembley Stadium. EPA

Austria 'grateful' for CIA's Taylor Swift plot tip-off


Tim Stickings
  • English
  • Arabic

Austria is grateful to US spies who uncovered an ISIS plot against a Taylor Swift concert in Vienna, Chancellor Karl Nehammer has said, after the CIA revealed it provided the tip-off.

CIA deputy director David Cohen said “tens of thousands of people” could have been killed in an alleged plot involving knives and explosives during Swift's record-smashing Eras Tour.

Mr Nehammer is demanding that Austrian agencies be allowed to spy on messenger apps after they relied on the US to alert them to the danger.

Two teenagers were arrested after what Austrian intelligence initially described as a tip-off from “partner agencies”, widely assumed to be American.

Mr Cohen confirmed the US involvement, saying it passed on “information about what this ISIS-connected group was planning to do”.

“They were plotting to kill a huge number – tens of thousands of people at this concert, including I am sure many Americans – and were quite advanced in this,” Mr Cohen said.

Swift's shows were cancelled, to the disappointment of 195,000 fans with tickets.

“There were people who thought that was a really good day for Langley,” Mr Cohen said, referring to the CIA headquarters. “And not just the Swifties in my workforce.”

Mr Nehammer, who is campaigning to be re-elected on September 29, said in a TV interview that the situation in Austria remained tense.

He welcomed what he said was a restoration of Austria's foreign intelligence links after a previous spy agency was bogged down in political scandal.

The Vienna leg of the Eras Tour was cancelled after what detectives said was a thwarted plot by an ISIS-inspired teenager. EPA
The Vienna leg of the Eras Tour was cancelled after what detectives said was a thwarted plot by an ISIS-inspired teenager. EPA

Allies openly doubted whether they could trust Austria with sensitive information after police raids on the now-disbanded Office for the Protection of the Constitution.

“I am very grateful to the international agencies for co-operating with us on an equal footing again. That was not a certainty,” Mr Nehammer told Puls 24.

Monitoring of messenger apps by Austria's own agencies will be a must-have for Mr Nehammer's conservatives in any post-election coalition talks, he said.

He said it should be possible for social media companies such as Facebook and TikTok to remove Islamist content from their sites.

Detectives say the main Vienna suspect, 19-year-old Beran A, planned to launch an attack outside one of Swift's shows, where fans without a ticket typically gather and sing along outside.

According to investigators, he was radicalised online and had recently sworn an oath of loyalty to ISIS. He has partially retracted a confession, according to his lawyer, who said the plot was a fantasy.

Swift's final European concerts in London passed off peacefully after fans were banned from gathering outside, a practice known as “Taylor-gating” or “Tay-gating”.

Who was Alfred Nobel?

The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.

  • In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
  • Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
  • Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
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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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Updated: August 30, 2024, 11:25 AM