This past week, we crossed the tenth anniversary of the day when an obviously deranged young man wielding a weapon of war massacred 20 little children and six of their teachers at Sandy Hook Elementary School in Newtown, Connecticut. America has had mass shootings even before that day. But Sandy Hook felt different because the victims were so little and so many, and because then US President Barack Obama spoke so eloquently and tearfully to the nation, capturing our collective grief and the resolve that “our hearts had been broken” too many times and that something must be done to end such killings.
The powerful gun lobby went to work and a short time later the Senate voted down a modest gun reform bill by a vote of 60 to 40.
The numbers since Sandy Hook are staggering – and increasing at an alarming rate. In the four decades before Sandy Hook, there were 1,094 school shootings. But during just the past decade, America has seen an almost doubled number with an additional 948 school shootings – more than 109 of them being mass shootings (defined as an incident in which four or more have been have shot by a gunman).
But school shootings are only a part of the story. Eighty-one million Americans now own 415,000,000 guns. And we use them with regularity on each other. In each of the past three years there have been more than 600 mass shootings – with last year’s 690 being the highest on record. These annual numbers more than double the numbers of mass shootings each year of the previous decade. And this year alone, there have already been 43,000 gun-related deaths, divided almost evenly between murders and suicides.
Every single day in America an average of 12 children die from gunfire. Another 32 are shot and wounded. In fact, guns are the leading cause of death among children and teenagers in the US.
In other words, guns are literally killing Americans, and the politicians are doing nothing about it. Mass shootings have become routine. It is only when the event is so horrific, like Sandy Hook, or Columbine, or Stoneman Douglas, or more recently, Uvalde, that we become shocked. But there is a difference. When the slaughter of children occurred a decade ago, there was still a belief that real change would occur. Many people no longer believe that and have come to settle for minor reforms that amount to but a tweak in the murder machine.
It is as if the life has been sucked out of us and we no longer even dare to hope that assault weapons can be banned, that gun sales can be regulated and limited, or that communities can at least ban weapons of war from within their jurisdictions.
We know that in the face of an epidemic of gun violence such common sense measures should be implemented. But we also know that because conservatives in Congress and the courts have both a bizarre ideological interpretation of the Constitution and/or a pathological obsession with guns, saving our children is not a priority.
Last Christmas, a few “Christian” Republican members of Congress sent out Christmas cards featuring pictures of their families in front of their Christmas trees with each member (including their small children) proudly carrying assault weapons. One featured a note to Santa: “Please bring ammo.” This from the very crowd that rails against “godless liberals, who’ve taken Christ out of Christmas.”
As I have noted many times before, the problem of gun violence is deeply ingrained in American culture. From the mythic lore of the Old West, cowboys fighting Indians or cops chasing robbers, to the romanticisation of the mobsters of the 1920s to today’s video games featuring space invaders and fantasy futuristic weapons that enable our children to have the questionable pleasure of winning by shooting everything in sight – American society is suffering. And some Americans keep feeding its sickness with more guns and the misguided belief that they give us potency, making us strong and secure.
I remember after one monstrous mass murder in a Louisiana movie theatre, listening to a debate on CNN in which one panellist argued that if other patrons in the theatre had been armed, they could have stopped the shooter. I had heard much the same after a plane hijacking. The thought of multiple random shooters firing in a darkened theatre or in a plane at 30,000 feet is a nightmare, not a solution.
We should pass an assault weapon ban, require universal background checks, and certainly keep weapons out of the hands of children and those who are mentally ill. But we must also make a determined effort to address the root causes of our problem: our pathological obsession with weapons, the power of the gun lobby that blocks reform, and a popular culture that normalises killing with guns.
We need to constantly hold up before the gun lobby and those who support them the faces of the children who die, and name and shame those whose actions and inaction allow the slaughter to continue. They are as responsible as the shooters and should be made to feel responsible for forgetting the victims of Sandy Hook, Columbine, Stoneham Douglas, Uvalde and all the other massacres that have occurred on their watch.
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.”
SPEC%20SHEET%3A%20SAMSUNG%20GALAXY%20S24%20ULTRA
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The National selections
Al Ain
5pm: Bolereau
5.30pm: Rich And Famous
6pm: Duc De Faust
6.30pm: Al Thoura
7pm: AF Arrab
7.30pm: Al Jazi
8pm: Futoon
Jebel Ali
1.45pm: AF Kal Noor
2.15pm: Galaxy Road
2.45pm: Dark Thunder
3.15pm: Inverleigh
3.45pm: Bawaasil
4.15pm: Initial
4.45pm: Tafaakhor
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
COMPANY%20PROFILE
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Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
The specs
Engine: 6.2-litre V8
Transmission: ten-speed
Power: 420bhp
Torque: 624Nm
Price: Dh325,125
On sale: Now
Schedule
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UAE currency: the story behind the money in your pockets
GROUPS AND FIXTURES
Group A
UAE, Italy, Japan, Spain
Group B
Egypt, Iran, Mexico, Russia
Tuesday
4.15pm: Italy v Japan
5.30pm: Spain v UAE
6.45pm: Egypt v Russia
8pm: Iran v Mexico
UAE currency: the story behind the money in your pockets
Farage on Muslim Brotherhood
Nigel Farage told Reform's annual conference that the party will proscribe the Muslim Brotherhood if he becomes Prime Minister.
"We will stop dangerous organisations with links to terrorism operating in our country," he said. "Quite why we've been so gutless about this – both Labour and Conservative – I don't know.
“All across the Middle East, countries have banned and proscribed the Muslim Brotherhood as a dangerous organisation. We will do the very same.”
It is 10 years since a ground-breaking report into the Muslim Brotherhood by Sir John Jenkins.
Among the former diplomat's findings was an assessment that “the use of extreme violence in the pursuit of the perfect Islamic society” has “never been institutionally disowned” by the movement.
The prime minister at the time, David Cameron, who commissioned the report, said membership or association with the Muslim Brotherhood was a "possible indicator of extremism" but it would not be banned.
Company%20profile
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