British Prime Minister Rishi Sunak asked if his election rival Keir Starmer was planning to make a deal with the ayatollahs in Iran or Taliban in Afghanistan to send back asylum seekers rejected by the UK, during the leaders' last televised debate before next week's general polls.
The migrants are coming from Iran, Syria and Afghanistan, Mr Sunak said.
“Will you sit down with the ayatollahs? Are you going to try to do a deal with the Taliban? It’s completely nonsensical – you are taking people for fools,” he said.
“The Rwanda plan is a deterrent, you just have to listen to what the illegal migrants themselves are saying.
"One of them just said, ‘Most of us are still in France due to the fear we have about Rwanda’.".
“Another one said, ‘I won’t cross the Channel until the Rwanda plan is destroyed’.
"If Labour win, the people smugglers are going to need a bigger boat. Don’t surrender our borders to the Labour Party.”
Rishi Sunak through the years - in pictures
Mr Starmer responded: “Record numbers coming across the Channel and he says it’s a deterrent.
"There are a few hundred that will go on a flight to Rwanda, a huge expense to taxpayers.
"There are tens of thousands, 15,000 people have come since Rishi Sunak has been Prime Minister.”
Mr Starmer criticised Mr Sunak over the Westminster betting scandal, accusing him of being bullied into responding to the issue.
“You have to lead from the front on issues like this," the opposition leader said.
"I think that in the last 14 years, politics has become too much about self entitlement and MPs thinking about what they could get for themselves.
“The instinct of these people to think the first thing they should do is try to make money. That was the wrong instinct, and we have to change that.
“What I did, when one of my team was alleged to have been involved and investigated by the Gambling Commission, they were suspended within minutes, because I knew it made it really important to be swift.
"The Prime Minister delayed and delayed and delayed until eventually he was bullied into taking action.”
Keir Starmer through the years - in pictures
Mr Sunak replied: “It was important to me, that given the seriousness and the sensitivity of the matters at hand that they were dealt with properly, and that’s what I’ve done."
A member of the audience asked: “Are you two really the best we’ve got to be the next prime minister of our great country?”
Mr Starmer said: “I’m not surprised after 14 years of this that people feel this way because the country is in such a state.
“They’ve had loads of promises made in the last election about what will happen which haven’t been delivered on. That does beat the hope out of people.
“The very first question was about integrity in politics, and again people haven’t seen that integrity.
"They’ve had partygate, they’ve had breach of Covid rules, you’ve had the contracts for Covid – the instinct of some people is to think the first thing in Covid I’m going to do is try to make money.
“So, this is an opportunity to restore that hope. I don’t think we can do that by making sort of grand promises of things that can’t be delivered.”
Rather, he said, it is “the ordinary hope of getting on yourself, getting on for your family, getting on for your community, your country.
"It has to be rooted, if we’re going to restore hope in my view, in returning politics to service, the sense that you come into politics to serve."
During the debate, Mr Sunak pointed to a media report that the shadow chief secretary to the Treasury, Darren Jones, said Labour’s net-zero plans would cost “hundreds of billions”.
“Just go online, go to the Telegraph website, because we’ve just found a recording they’ve put out there from the deputy chancellor from the Labour Party admitting that their plan would cost hundreds of billions of pounds,” Mr Sunak said.
“Do not surrender to their tax rises."
The BBC moderator jumped in to explain that Mr Sunak was referring to an article saying that it had obtained a recording of Darren Jones saying decarbonising the economy would cost that much.
“Yes, it is absolutely right that we want to get investors to come in alongside that government money," Mr Starmer said.
"It won’t surprise you we’ve been talking to global investors for the best part of two years to say, ‘If we put down this amount of money in our manifesto, will you come alongside it and put down many more billions of pounds so that in partnership we make the change that we need?’”
Early in the debate, Mr Starmer took a swipe at the Conservative Party leader, accusing Mr Sunak of being “out of touch” when it comes to welfare benefits.
To applause from the studio audience, the Labour leader said: “If you listen to the people in the audience, across the country, more often, you might not be quite so out of touch.”
There was no winner in the BBC prime ministerial debate, according to a YouGov snap poll.
In a survey of 1,716 viewers, 47 per cent said Mr Starmer won, 47 per cent said Mr Sunak did, and 6 per cent said they did not know.
Throughout the televised debate, the sound of a protest outside the BBC venue could be heard in the background.
Pro-Palestine demonstrators were among those standing outside the Nottingham Trent University building.
Mishal Hussain, the presenter, confirmed to the audience that the demonstration was taking place.
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Scoreline
Arsenal 0 Manchester City 3
- Agüero 18'
- Kompany 58'
- Silva 65'
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.”
The Little Things
Directed by: John Lee Hancock
Starring: Denzel Washington, Rami Malek, Jared Leto
Four stars
UAE currency: the story behind the money in your pockets
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
MATCH INFO
Final: England v South Africa, Saturday, 1pm
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The figures behind the event
1) More than 300 in-house cleaning crew
2) 165 staff assigned to sanitise public areas throughout the show
3) 1,000 social distancing stickers
4) 809 hand sanitiser dispensers placed throughout the venue
The specs
Engine: 6.2-litre V8
Transmission: ten-speed
Power: 420bhp
Torque: 624Nm
Price: Dh325,125
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- Specialist robotics and science laboratories
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