Havana Marking, the filmmaker behind the documentary, said some gang members wished to leave their days of crime behind them for fear that someone would be killed. Before the Dubai robbery, the gang had committed theft valued at a quarter of a billion dollars.
Havana Marking, the filmmaker behind the documentary, said some gang members wished to leave their days of crime behind them for fear that someone would be killed. Before the Dubai robbery, the gang hShow more

Dubai's Pink Panthers return but not on CCTV



DUBAI // The stolen Audis burst through the glass doors of Wafi Mall. Tyres squealed across the marble corridors before coming to a stop outside Graff jewellery store.

There, three men used hammers to smash through a glass display cabinet and gain entry to the store before gathering up jewels worth Dh14.7 million in their black sacks.

Seconds later, the robbers returned calmly to the vehicles, where a fourth accomplice, a female, was waiting, and sped off into the night. They remain at large.

The jewellery heist was one of the most audacious in history, but the so-called Pink Panther gang only took two minutes to complete their raid at 9.30pm on April 15, 2007.

Now, their Hollywood-style escapade will be replayed on the silver screen thanks to documentary filmmaker Havana Marking.

Smash and Grab: The Story of the Pink Panthers is a Dh2.8 million production that has taken Ms Marking two years to complete.

"I spoke to a number of Panthers for the film," said Ms Marking, who conducted telephone interviews with some of the gang members. "Some said that they want to return to a normal life because they do not want their children to get into what they do. They said that they cannot continue without someone getting killed."

She described the Panthers as loosely connected individuals who do not form a gang in the traditional sense. "But their planning method is impeccable, and they always manage to escape," she said. "I first read a story about them in The New Yorker and learnt about their background - coming from the Balkans during the war. I realised that their story has all the elements: moral issues, excitement and history."

Filming took place in New York, London, Paris, Geneva and Tokyo, and her crew also spent time in Serbia and Montenegro.

Ms Marking said the Panthers were fairly popular in Serbia, where they were viewed as folk heroes.

"Their history dates back to the Balkan war. They come from an extraordinary region that has had an explosion of organised crime," she said."They have no victims and only steal diamonds to sell to a specific seller immediately. The gang only dealt in cut diamonds and always had a pre-arranged buyer."

The bulk of the sale of their items takes place in Belgium, she said.

This week, the film crew was in Dubai, interviewing those involved in the investigation of the Wafi robbery.

"The Dubai story is very interesting in the history of the Panthers," said Ms Marking. "The network, up until then, had committed thefts valued at a quarter of a billion dollars."

Previous robberies took place in Switzerland, Tokyo and London.

"Their robbery here played a pivotal role in the various international police agencies coming to understand their network and how they operated," she said.

Not only was their raid caught on camera, but police were able to recover the stolen jewels.

During filming this week Ms Marking interviewed the Dubai Police Chief, Lt Gen Dahi Khalfan Tamim, as well as his deputy, Maj Gen Khamis Mattar Al Mazeina, who was the chief of CID at the time of the robbery.

"We know who they are and we have been following all their movements," said Maj Gen Al Mazeina during his interview with Ms Marking, "but we are waiting for all the necessary international legal work to go ahead before we take action."

The documentary has been entered for consideration at the Cannes Film Festival this summer before its worldwide theatrical release in autumn.

"We also want to showcase the film this year at the Dubai Film Festival and hope to release it to the cinemas locally," she said.

Smash and Grab: The Story of the Pink Panthers is funded by the BBC, HBO, Franco-German TV network ARTE and the British Film Institute.

Visit http://tinyurl.com/8xawptk to view the trailer

* This article was altered on February 16 to correctly attribute the quote of Major General Khamis Mattar Al Mazeina. We previously attributed the quote to Lt Gen Tamim.

COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 

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.”

COMPANY PROFILE

Company: Bidzi

● Started: 2024

● Founders: Akshay Dosaj and Asif Rashid

● Based: Dubai, UAE

● Industry: M&A

● Funding size: Bootstrapped

● No of employees: Nine

Countdown to Zero exhibition will show how disease can be beaten

Countdown to Zero: Defeating Disease, an international multimedia exhibition created by the American Museum of National History in collaboration with The Carter Center, will open in Abu Dhabi a  month before Reaching the Last Mile.

Opening on October 15 and running until November 15, the free exhibition opens at The Galleria mall on Al Maryah Island, and has already been seen at the Jimmy Carter Presidential Library and Museum in Atlanta, the American Museum of Natural History in New York, and the London School of Hygiene and Tropical Medicine.

 

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  • Disruption Lab and Research Centre for developing entrepreneurial skills