The wife of newspaper editor Francis Matthew repeatedly urged him to leave Dubai after he amassed debts of nearly a million dirhams before she was killed, her family say.
They are challenging claims by Matthew that he struck his wife twice on the head with a hammer in the heat of an argument about their finances.
Matthew, 61, a former editor of Gulf News, is appealing against a 10-year sentence handed down by a Dubai Court, after he claimed he did not plan to kill his wife or hit her to cause fatal injury.
Peter Manning, the brother of the deceased, is calling for Matthew to serve his full term, saying tensions between the couple had been mounting for at least a year over their "frightening" finances.
In an interview with The National, Mr Manning said: "Jane felt completely trapped in Dubai by Francis. She had wanted to leave Dubai for years, but Francis would not give up his position at work. So she grew more and more unhappy. This went on for years.
"We know that the debt and Francis's intransigence about moving to the UK meant that tension in the house was high over a long period," he said.
"The argument was not 'out of the blue' as the defence claim. It puts that night in a very different light. It was not her 'provocation' that caused him to batter her. It was the situation he had got them into. This is a critical issue that must be examined by court."
Mr Manning disputed defence claims that his sister became angry after learning the true extent of their finances and being told they would have to move to a smaller home.
“We have already said that she, in fact, knew about this for around a year, so this is not true. Then there was the constant worry about debt on top,” said Mr Manning.
"They had debts of over £200,000 in the form of six credit cards and two loans. These were building up interest. It must have been frightening."
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Read more:
Former Gulf News editor Francis Matthew jailed 10 years for killing wife in Dubai
Former Gulf News editor appeals 10-year jail sentence for wife killing as her family protest at 'deeply unfair' decision
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Matthew was convicted in March after the court changed the initial charge to physical assault leading to death.
Dubai Police were called to Matthew’s home in Umm Suqeim at 5.45pm last July 3, where they found his 62-year-old wife dead in bed with severe head wounds.
Police said Matthew initially claimed his wife had been assaulted by robbers who had broken into their three-bedroom home and killed her while he was at work. But he later admitted to police that his wife had grown angry with him after finding out they need to move to a smaller house as a result of his financial problems. He claimed that his wife provoked him by calling him a "loser" and saying it was his responsibility to provide them with money.
Mr Manning said the family had been concerned about his sister for some time and knew she was deeply unhappy.
“She told us so frequently. My father wrote to Francis to spell this out but he didn’t reply,” he said.
Prosecutors are to push for a tougher sentence against the former Gulf News editor. Last month prosecutors told Dubai Court of Appeal that the killing of the journalist's wife was premeditated – not just in the heat of the moment.
UAE currency: the story behind the money in your pockets
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.”
The Laughing Apple
Yusuf/Cat Stevens
(Verve Decca Crossover)
TRAP
Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue
Director: M Night Shyamalan
Rating: 3/5
Killing of Qassem Suleimani
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
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- Disruption Lab and Research Centre for developing entrepreneurial skills
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
The years Ramadan fell in May
It Was Just an Accident
Director: Jafar Panahi
Stars: Vahid Mobasseri, Mariam Afshari, Ebrahim Azizi, Hadis Pakbaten, Majid Panahi, Mohamad Ali Elyasmehr
Rating: 4/5
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WISH
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