A reader applauds Barack Obama’s initiative to mend ties with Vietnam. Carlos Barria / Reuters
A reader applauds Barack Obama’s initiative to mend ties with Vietnam. Carlos Barria / Reuters

Can Obama visit heal wounds of the Vietnamese?



It is heartening that the United States and Vietnam are on the path to mending relations (Obama banishes Vietnam War era with lifting of arms ban, May 24).

I was in Vietnam some time ago, and was impressed by the energy, zeal and commitment of the people to improve their lives and to bring economic prosperity to their beautiful country. Every Vietnamese I met was anxious that the country should be seen as a modern and growing nation. They are honest and sincere – rare qualities in a society that’s in a mad rush for material success.

Vietnam buzzes with activity and yet it has retained its traditional charm. There is no bitterness towards America or the West for the 20-year war that crippled the entire country and people. “We must move forward with equanimity,” they say.

In view of the recent developments, the war in Vietnam seems pointless. Why was the war fought? What was its outcome? Nothing but death and misery.

The War Museum in Ho Chi Minh City highlights the suffering Vietnamese people had to undergo. The country still has some of the relics of war, such as American tanks and helicopters.

A visit to Vietnam reveals how wrong some leaders can be in fighting unnecessary wars based on ideology. The Iraq war is another one that could have been avoided. It is sad that many leaders lack the maturity and intellectual sagacity to resolve conflicts in a peaceful manner.

Hopefully Mr Obama’s visit will heal the wounds of the Vietnamese people in some measure and ensure a new beginning.

Rajendra K Aneja, Dubai

Prayers for the murdered boy

I hope the soul of the poor boy is at peace (Family of murdered boy call for execution of killer, May 24). My heart aches for his family, his sisters who had to learn that the world can be so cruel, his parents who have suffered the most horrific thing imaginable. I hope the perpetrator gets the maximum punishment.

Ela Jayne, Australia

We know that nothing can compensate the parents for the loss of their child. I feel sorry for them.

Mina Azad WA Akash, Dubai

May the boy’s soul rest in peace. I hope the wound of his family members heals over time. Losing a child is the most horrible and painful experience a parent can have.

This incident is a reminder that every parent should keep a watch on their child all the time. You never know what people have in their mind. In this sinful world we have to be extra cautious.

Shirley Olazo Cortez, Dubai

This is absolutely shocking. It is beyond belief that a friend is alleged to have committed such a horrendous crime. If true, the man should be ashamed of himself. It is due to people like these who continue to betray trust and relations that parents are compelled to suspect every individual getting close to their children. Whoever is guilty of this crime deserves nothing less than capital punishment or life imprisonment.

Fatima Suhail, Sharjah

Some of these crimes are manifestations of a social problem. Capital punishment will not solve the issue. One small thing we can do is establish a helpline for children and conduct counselling sessions for adults.

Aditya Kothare, Dubai

Let women take the call on hijab

After reading Faisal Al Yafai's opinion article, Hatred of the hijab is part of a broader anger against women (May 18), I would like to suggest that we leave the decision whether to wear a hijab or not to a council of women.

I think the majority of women would love to make their own decisions on what to wear and what not to wear. You might be surprised at the result.

What bothers me, as a westerner, is the fact that men want to decide how women should dress in public. In my opinion, that is basically wrong. Whether women want to be seen or not is up to them.

Guy Filion, Dubai

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How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

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What can you do?

Document everything immediately; including dates, times, locations and witnesses

Seek professional advice from a legal expert

You can report an incident to HR or an immediate supervisor

You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline

In criminal cases, you can contact the police for additional support

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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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The five pillars of Islam