Suspect beaten before he was in police custody, officer testifies


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DUBAI // A senior officer from Naif police in Dubai alleged in court yesterday that a prisoner who died an hour after being taken into his custody had been beaten by Omani police.

B?K, a Pakistani, had been arrested in Oman in connection with a kidnapping and murder case. He was transferred to Dubai police  on May 28, 2010.

Major A?M told the Dubai Criminal Court of First Instance that B?K was presented to him in such a bad state “he had to be supported by two policemen to stand”.

He said CID officers at Naif had not tortured B?K, while the 13 Dubai CID officers charged in the case also denied torturing the suspect.

“The facial expression of the suspect was unnatural, his eyes were wide open, almost looking like a surprised person. He seemed to be in shock,” A?M told Judge El Saeed Bargouth.

“He looked frail and seemed close to passing out several times during the questioning.”

During questioning by the judge, A?M said he did not see bleeding or ripped clothes on the suspect. He said about an hour passed between when B?K arrived and his death.

“He was taken to the CID office, which was 20 metres away from mine,” he said.

However, two other men, M?S and S?H, who were arrested with B?K, told prosecutors that Dubai CID officers tortured the three of them at Naif police station.

M?S said he was arrested in Al Satwa, then placed in a CID car, where he was slapped and punched in the face, abdomen and thighs.

He was taken to Al Rafaa police station, then moved to Naif station.

Prosecutors said officers there hit him in the groin with a metal bar and a wooden stick, then stripped him naked and sprayed his body with WD40, an anti-rust agent.

Judge Bargouth questioned A?M about the results of the forensic report presented by prosecutors.

“The report claimed that fresh bruises appeared on the victim’s body, indicating that he might have been assaulted while in custody in Dubai; what do you have to say about that?” he asked.

A?M denied any knowledge of the report.

A?E, a forensics expert who examined B?K’s body, told prosecutors the man had suffered bruises all over his body, and that the cause of death was bleeding in the brain.

A?E said the bruises were probably caused by sticks or bars, but some had been caused by bare hands.

The court adjourned the hearing to January 31 for the testimony of A?E, M?S and S?H.

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Checks continue

A High Court judge issued an interim order on Friday suspending a decision by Agriculture Minister Edwin Poots to direct a stop to Brexit agri-food checks at Northern Ireland ports.

Mr Justice Colton said he was making the temporary direction until a judicial review of the minister's unilateral action this week to order a halt to port checks that are required under the Northern Ireland Protocol.

Civil servants have yet to implement the instruction, pending legal clarity on their obligations, and checks are continuing.

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How Tesla’s price correction has hit fund managers

Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.

It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.

The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.

Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.

Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.

He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.

AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”

A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.

Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.

Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.

Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.

By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.

Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.

In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”

Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.

She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.

Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.