Ayatollah Ali Khamenei, Iran's supreme leader, addresses the crowd during a ceremony marking the 35th death anniversary of his predecessor Ayatollah Ruhollah Khomeini in Tehran on Monday. AFP
Ayatollah Ali Khamenei, Iran's supreme leader, addresses the crowd during a ceremony marking the 35th death anniversary of his predecessor Ayatollah Ruhollah Khomeini in Tehran on Monday. AFP
Ayatollah Ali Khamenei, Iran's supreme leader, addresses the crowd during a ceremony marking the 35th death anniversary of his predecessor Ayatollah Ruhollah Khomeini in Tehran on Monday. AFP
Ayatollah Ali Khamenei, Iran's supreme leader, addresses the crowd during a ceremony marking the 35th death anniversary of his predecessor Ayatollah Ruhollah Khomeini in Tehran on Monday. AFP

Palestinian President Abbas criticises Iran's Khamenei over praise for Hamas attacks


Nada AlTaher
  • English
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Palestinian President Mahmoud Abbas has issued a sharp response to Iran's supreme leader Ayatollah Ali Khamenei, who lauded Hamas's October 7 attacks on Israel.

In a statement, Mr Abbas said the Palestinian people are the ones who have paid the price of Israel's war on Gaza, which it launched in retaliation for the attacks in October.

"They are the first to be affected by this war [on Gaza], which has shed their blood and which has resulted in the death of more than 36,000 martyrs, and wounded 83,000 others, as well as the destruction of infrastructure as hospitals, schools, mosques, churches and the displacement of thousands of citizens and extermination of hundreds of families," he said.

Mr Khamenei on Monday said the October 7 attacks were "necessary for the region" and described them as "a huge blow to Israel".

Mr Khamenei, who was speaking at an event to commemorate his predecessor as supreme leader, Ayatollah Ruhollah Khomeini, predicted the fall of what he referred to as the "Zionist regime" and said the Hamas-led attacks "destroyed the plans of the enemy."

Tehran supports Hamas as part of its so-called Axis of Resistance, a coalition of Iran-led groups including Hezbollah in Lebanon that is opposed to the US and Israel in the Middle East.

Mr Abbas had previously criticised Hamas for its attack on October 7 and his ruling party Fatah has accused Iran of "instigating chaos" in the occupied territories through its support for Hamas and movements such as the Palestinian Islamic Jihad, which are rivals of Fatah.

He said comments such as Mr Khamenei's "clearly announce that their goal is to sacrifice the blood of Palestinians and thousands of children, women and the elderly, and to destroy Palestinian land".

He also said policies such as the ones expressed by the Iranian leader, "do not serve the Palestinian national goals of liberating Jerusalem".

Mr Abbas again highlighted that the US has repeatedly vetoed UN decisions aiming to bring Palestinians some of their legitimate rights, and that successive US administrations have tried to "remove Jerusalem from the equation" while continuing to "provide weapons and money" to prop up the Israeli occupation.

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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.”

if you go

Getting there

Etihad (Etihad.com), Emirates (emirates.com) and Air France (www.airfrance.com) fly to Paris’ Charles de Gaulle Airport, from Abu Dhabi and Dubai respectively. Return flights cost from around Dh3,785. It takes about 40 minutes to get from Paris to Compiègne by train, with return tickets costing €19. The Glade of the Armistice is 6.6km east of the railway station.

Staying there

On a handsome, tree-lined street near the Chateau’s park, La Parenthèse du Rond Royal (laparenthesedurondroyal.com) offers spacious b&b accommodation with thoughtful design touches. Lots of natural woods, old fashioned travelling trunks as decoration and multi-nozzle showers are part of the look, while there are free bikes for those who want to cycle to the glade. Prices start at €120 a night.

More information: musee-armistice-14-18.fr ; compiegne-tourisme.fr; uk.france.fr

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RESULT

Manchester United 2 Burnley 2
Man United:
 Lingard (53', 90' 1)
Burnley: Barnes (3'), Defour (36')

Man of the Match: Jesse Lingard (Manchester United)

Updated: June 04, 2024, 6:43 AM