A grand jury will determine if there is sufficient evidence to charge a man with the murder of a UAE student in the United States this year.
Neil Kumar, 30, was shot in a petrol station robbery in Pike County, Alabama, in July.
The son of an Indian family from Sharjah, Mr Kumar was studying for a master's degree in computer science and working part-time at the garage.
The attack took place as he opened the garage in the city of Brundidge at about 6am.
Leon Terrell Flowers, 23, was charged with capital murder and robbery.
Following a preliminary hearing, Pike County Judge Steven Curtis said there was sufficient evidence against Mr Flowers to send the case to a grand jury.
Brundidge police chief Moses Davenport said a video recording showed Mr Flowers entering the garage at about 6am and demanding money.
Mr Davenport said Mr Flowers went behind the counter where he shot Mr Kumar at close range before leaving with an undetermined amount of cash.
The police chief said that an anonymous 911 call was made at 7am.
Flowers has four previous convictions, Pike County district attorney Thomas Anderson said.
He was previously arrested and charged with felony murder in an unrelated case, which was subsequently reduced to manslaughter.
Mr Flowers was released on probation on April 30, after being given credit for time served while awaiting trial.
In that case, the father of the victim had asked for leniency.
Mr Kumar’s parents, Kumar Purushu and his wife Seema, originally from India, have lived in Sharjah for most of their lives.
Their three children, including the victim, went to school in Dubai. Kumar's two sisters have both settled in America since then.
Mr Kumar was enrolled at Troy University, where friends and staff said they were saddened and shocked by his death.
Following his death, his family paid tribute to a beloved son and brother.
“You are loved and missed by so many because of your kind, witty, charming and selfless nature,” the family said.
“Your loss is unbearable and you have left a hole in our hearts that can never be filled. We will miss you for ever beloved son and dearest little brother.”
The date of the next hearing has yet to be disclosed.
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The biog
Siblings: five brothers and one sister
Education: Bachelors in Political Science at the University of Minnesota
Interests: Swimming, tennis and the gym
Favourite place: UAE
Favourite packet food on the trip: pasta primavera
What he did to pass the time during the trip: listen to audio books
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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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UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
