A man is detained by police near Buckingham Palace in London on Wednesday, two days after a terrorist attack at a music concert in Manchester. Carl Court / Getty Images
A man is detained by police near Buckingham Palace in London on Wednesday, two days after a terrorist attack at a music concert in Manchester. Carl Court / Getty Images
A man is detained by police near Buckingham Palace in London on Wednesday, two days after a terrorist attack at a music concert in Manchester. Carl Court / Getty Images
A man is detained by police near Buckingham Palace in London on Wednesday, two days after a terrorist attack at a music concert in Manchester. Carl Court / Getty Images

Manchester attack will affect UK’s general election


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The timing of the attack follows a well-known pattern among modern terrorist groups

On Tuesday morning, the front pages of Britain’s newspapers carried one striking image: the aftermath of an attack in Manchester.

The city is one of the UK’s largest and most diverse. The image was of a young woman, injured in the bombing, surrounded by the emergency services, with a backdrop of neon night-time colours. She was a survivor. But at least 22 others were killed, and more than 50 injured. At least 12 of those dead were children under the age of 16, including one eight year old.

The country spent the day in shock. Parents recounted their own memories as children of the excitement of attending a concert. This one was by Ariana Grande, a popular star among young girls. For many in the audience the day would have started out as one of the most exciting of their lives. Its ending was something out of a horror movie.

The attack fell in the middle of the current election campaign cycle in the UK, as the country gears up for a general election on June 8.

The motive is not yet clear, but the effect of this horror at such a sensitive political time follows a well- known pattern among modern terrorist groups: terrorise, mobilise and polarise. By creating a visceral fear the aim is to inject hatred into spaces of pluralism and diversity.

We saw it in the stream of atrocities in France during their election cycle. It gave Marine Le Pen, the leader of the far right party the Front National, a platform for her hatred. In today’s world, it was the immigrants and Muslims who were demonised for an attack that was timed to create hate. In the same breath she denied the Holocaust. Even with history she created hate.

In the UK, there were plenty who were ready to feast on the bodies of children killed in the Manchester attack.

Katie Hopkins, a controversial news columnist who has previously likened refugees fleeing war zones to “cockroaches” said what was needed was a “final solution”. This is a stomach churning phrase used by the Nazis to refer to the Holocaust and the objective to annihilate the Jewish populations of Germany.

Another journalist for a leading newspaper, The Daily Telegraph, Allison Pearson said that what was needed was the internment of thousands of terror suspects.

This did not work during the Troubles in Northern Ireland, and again echoes the horrors of genocide.

And Piers Morgan, a disgraced newspaper editor turned TV presenter, explained that attacks wouldn’t happen if Muslims stepped up and dealt with extremists. He was trotting out the old race tropes, as though all Muslims know each other, as though there is collective guilt, as though Muslims are separate and other.

The ugly genie of hatred had been let out of the bottle and granted the hatemongers the fodder to fuel their hatred.

Last year, in mid-June, British MP Jo Cox was murdered in the street.

The murderer was called a terrorist by the judge. He shouted white supremacist slogans and had been brought to a frenzy by the imminent public vote on Britain leaving the EU.

The campaign rhetoric had focused heavily on immigration, with references to a “swarm” made by then prime minister David Cameron, and a poster showing Syrian refugees and the caption explaining Britain was at “breaking point”.

The timing of such events and their intersection with the cycle of elections and democracy entrenches a view that draconian measures, security, surveillance and increased state powers are the answer to public demand. It is proposed that a strong state is required and its citizens in these moments of flux are facilitated into giving away their rights.

They do it of course because they believe it will only affect others and not themselves. They do it, because when the timing of terror coincides with periods of change, then fear turns into hatred. They do it because they have learnt nothing from history, and that this is how horrors start.

Shelina Zahra Janmohamed is the author of the books Generation M: Young Muslims Changing the World and Love in a Headscarf

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Scoreline

Saudi Arabia 1-0 Japan

 Saudi Arabia Al Muwallad 63’

Our legal consultants

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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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Day 3, Dubai Test: At a glance

Moment of the day Lahiru Gamage, the Sri Lanka pace bowler, has had to play a lot of cricket to earn a shot at the top level. The 29-year-old debutant first played a first-class game 11 years ago. His first Test wicket was one to savour, bowling Pakistan opener Shan Masood through the gate. It set the rot in motion for Pakistan’s batting.

Stat of the day – 73 Haris Sohail took 73 balls to hit a boundary. Which is a peculiar quirk, given the aggressive intent he showed from the off. Pakistan’s batsmen were implored to attack Rangana Herath after their implosion against his left-arm spin in Abu Dhabi. Haris did his best to oblige, smacking the second ball he faced for a huge straight six.

The verdict One year ago, when Pakistan played their first day-night Test at this ground, they held a 222-run lead over West Indies on first innings. The away side still pushed their hosts relatively close on the final night. With the opposite almost exactly the case this time around, Pakistan still have to hope they can salvage a win from somewhere.

Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

LAST-16 FIXTURES

Sunday, January 20
3pm: Jordan v Vietnam at Al Maktoum Stadium, Dubai
6pm: Thailand v China at Hazza bin Zayed Stadium, Al Ain
9pm: Iran v Oman at Mohamed bin Zayed Stadium, Abu Dhabi

Monday, January 21
3pm: Japan v Saudi Arabia at Sharjah Stadium
6pm: Australia v Uzbekistan at Khalifa bin Zayed Stadium, Al Ain
9pm: UAE v Kyrgyzstan at Zayed Sports City Stadium, Abu Dhabi

Tuesday, January 22
5pm: South Korea v Bahrain at Rashid Stadium, Dubai
8pm: Qatar v Iraq at Al Nahyan Stadium, Abu Dhabi

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

TCL INFO

Teams:
Punjabi Legends 
Owners: Inzamam-ul-Haq and Intizar-ul-Haq; Key player: Misbah-ul-Haq
Pakhtoons Owners: Habib Khan and Tajuddin Khan; Key player: Shahid Afridi
Maratha Arabians Owners: Sohail Khan, Ali Tumbi, Parvez Khan; Key player: Virender Sehwag
Bangla Tigers Owners: Shirajuddin Alam, Yasin Choudhary, Neelesh Bhatnager, Anis and Rizwan Sajan; Key player: TBC
Colombo Lions Owners: Sri Lanka Cricket; Key player: TBC
Kerala Kings Owners: Hussain Adam Ali and Shafi Ul Mulk; Key player: Eoin Morgan

Venue Sharjah Cricket Stadium
Format 10 overs per side, matches last for 90 minutes
When December 14-17