Packaging for a few of the 100,000 SIM cards seized by the US Secret Service at multiple sites within a 55km radius of the UN in New York. AP
Packaging for a few of the 100,000 SIM cards seized by the US Secret Service at multiple sites within a 55km radius of the UN in New York. AP
Packaging for a few of the 100,000 SIM cards seized by the US Secret Service at multiple sites within a 55km radius of the UN in New York. AP
Packaging for a few of the 100,000 SIM cards seized by the US Secret Service at multiple sites within a 55km radius of the UN in New York. AP

US authorities stop alleged plot to shut down New York telecoms during UN summit


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The US Secret Service on Tuesday said it had dismantled a network of electronic devices that could have crashed New York's telecoms network in an attack ahead of the UN General Assembly.

The protective agency did not say who was responsible for the sophisticated material but linked it to “nation-state” actors and “individuals that are known to federal law enforcement”.

ABC News quoted a law enforcement source briefed on the investigation as saying officials “believe the plot is connected to the Chinese government”.

“The potential for disruption to our country's telecoms posed by this network of devices cannot be overstated,” Secret Service director Sean Curran said.

In a statement released shortly before President Donald Trump began addressing world leaders at the UN headquarters in New York, the Secret Service said the network of devices was uncovered after threats were made against senior US officials.

“In addition to carrying out anonymous telephonic threats, these devices could be used to conduct a wide range of telecoms attacks,” the agency said.

“This includes disabling cell phone towers, enabling denial of services attacks and facilitating anonymous, encrypted communication between potential threat actors and criminal enterprises.”

Secret Service special agent Matt McCool said the agency was “working towards identifying those responsible and their intent, including whether their plan was to disrupt the UN General Assembly”.

Mr McCool said no arrests have been made so far.

He said the investigation that led to the seizure of the electronics began this spring in an effort to identify what he called the “fraudulent calls” made to senior US officials.

300 servers, 100,000 SIM cards

The Secret Service said the devices it seized were located within a 55km radius of the UN and included 300 computer servers and 100,000 SIM cards across multiple sites.

“Given the timing, location and potential for significant disruption to New York telecoms posed by these devices, the agency moved quickly to disrupt this network,” it said.

“Early analysis indicates cellular communications between nation-state threat actors and individuals that are known to federal law enforcement,” it said.

The New York Times said an initial analysis of data on SIM cards has identified ties to “at least one foreign nation”, as well as drug cartel members.

The newspaper said 80 grams of cocaine and illegal firearms had been found at locations where the electronic devices were found.

Dismantled electronic devices that the US Secret Service says could have crashed New York's telecoms network. AFP
Dismantled electronic devices that the US Secret Service says could have crashed New York's telecoms network. AFP
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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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What the law says

Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.

“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.

“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”

If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.

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Updated: September 23, 2025, 5:45 PM