Ever since 1979, the guardians of Iran's Islamic Revolution have resorted to the ancient Middle Eastern practice of hostage-taking as a means of placing political pressure on their enemies.
One of the Revolutionary Guards’ first acts after Ayatollah Ruhollah Khomeini, the revolution’s founding father and spiritual leader, was safely established in power was to occupy the American embassy in Tehran and hold 52 US diplomats and other embassy staff hostage for 444 days. The embassy siege was politically disastrous for former US president Jimmy Carter, who was ultimately driven from office over his failure to secure the release of the hostages.
It was a similar situation during the 1980s civil war in Lebanon, when Tehran wanted to pressure the Reagan administration into dropping its support for the Lebanese government, which was opposed to attempts by the Iranian-backed militia Hizbollah to establish a de facto state in the southern half of the country. More than a dozen American, French and British subjects, including the Church of England envoy, Terry Waite, were taken hostage and held in captivity. The Reagan administration’s attempts to secure the hostages’ release resulted in the Iran-Contra scandal, the arms-for-hostages arrangement that forever tarnished Ronald Reagan’s reputation.
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Now, similar storm clouds are forming in Britain over the political future of British foreign secretary Boris Johnson regarding his less-than-impressive handling of the plight of Nazanin Zaghari-Ratcliffe, the British-Iranian woman who has been jailed in Iran on trumped-up charges.
Mrs Zaghari-Ratcliffe, a project manager with the Thomson Reuters Foundation in Britain, was arrested by the Revolutionary Guards at Imam Khomeini Airport as she prepared to leave Iran in April last year after visiting her Iranian family with Gabriella, her 22-month-old daughter. Mrs Zaghari-Ratcliffe’s family insist she was simply visiting relatives, but the Revolutionary Guards had other ideas, and in September 2016, it was revealed that she had been sentenced to five years imprisonment "for allegedly plotting to topple the Iranian regime". Meanwhile, her daughter's British passport was confiscated during the arrest, and the now three-year-old remains in Iran under the care of her maternal grandparents.
The methods might be more sophisticated, but this is simply another means by which the ayatollahs can take a foreign national captive for their own political ends.
Nor is the excessive jail sentence handed down to Mrs Zaghari-Ratcliffe the end of her ordeal. Last week, she was brought back to a revolutionary court and told she could face further charges that could see her prison sentence doubled.
The news that Mrs Zaghari-Ratcliffe could spend at least a decade in an Iranian jail cell has been greeted with dismay by her family in Britain and her British husband, Richard Ratcliffe, who has organised a vociferous campaign demanding her release.
But Mr Ratcliffe’s cause has not been helped by some injudicious remarks Mr Johnson made when he appeared by the Commons Foreign Affairs Select Committee, and said that Mrs Zaghari-Ratcliffe had been training Iranian journalists at the time of her arrest. Opposition MPs have now demanded that Mr Johnson resign from his position, as campaigners say his comments will be seized upon by the Iranian authorities to justify their claim that she was involved in unauthorised activities at the time of her detention.
For the moment, Mr Johnson is resisting demands for him to resign, saying his words have been taken out of context, and that he is continuing to work with the Iranians to secure Mrs Zaghari-Ratcliffe's release.
But it is a measure of Iran's refusal to cooperate on the case that, as The National is now reporting, they have stymied attempts by Mr Ratcliffe to visit his wife in prison by not fulfilling their promise to provide him with a visa.
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The harsh treatment meted out to Mrs Zaghari-Ratcliffe is typical of the disdain Iranian officials have for the West and its citizens. And it demonstrates yet again that, despite US president Donald Trump’s warning to Iran last month to change its behaviour or face the consequences, the ayatollahs of changing their hostile tactics.
On the contrary, in a week when much of the focus has centred on Mrs Zaghari-Ratcliffe’s plight, Iran has been involved in a number of other hostile acts that will not go down well at the White House.
The resignation of Lebanese prime minister Saad Hariri has been blamed on the threats he has received to his life for the stand he has taken against Hizbollah's increasing encroachment on the Lebanese political establishment. Mr Hariri's concerns, moreover, have great credibility, as Hizbollah has been accused of murdering his father, Rafik, in 2005.
The other incident that shows Iran has no intention of toning down its bellicosity was the firing of a ballistic missile at Riyadh International Airport by Yemeni-based Houthi rebels last weekend. Iran is known to be the main supplier of such sophisticated weapons to the relatively primitive Houthi fighters, and the attack has now been condemned by Saudi Crown Prince Mohammed bin Salman as being tantamount to a declaration of war by Tehran against Saudi Arabia.
But if the Iranians believe they can get away with the intimidation tactics, whether placing Western citizens in captivity or firing ballistic missiles, they should think again. Mr Trump has shown he is serious about confronting rogue states like Iran and North Korea. He has already inflicted severe damage on Pyongyang for its ballistic missiles tests, and he will do the same to Iran if the ayatollahs do not mend their ways.
Con Coughlin is the Daily Telegraph’s Defence and Foreign Affairs Editor and author of Khomeini’s Ghost (Macmillan)
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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5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
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- Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
- Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
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- Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
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UK's plans to cut net migration
Under the UK government’s proposals, migrants will have to spend 10 years in the UK before being able to apply for citizenship.
Skilled worker visas will require a university degree, and there will be tighter restrictions on recruitment for jobs with skills shortages.
But what are described as "high-contributing" individuals such as doctors and nurses could be fast-tracked through the system.
Language requirements will be increased for all immigration routes to ensure a higher level of English.
Rules will also be laid out for adult dependants, meaning they will have to demonstrate a basic understanding of the language.
The plans also call for stricter tests for colleges and universities offering places to foreign students and a reduction in the time graduates can remain in the UK after their studies from two years to 18 months.
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