More than 1,000 people gathered for a candlelight vigil in Dubai to remember the 148 people killed, 132 of them children, in Tuesday’s attack by Taliban militants on a Pakistan army high school in Peshawar.  Jeffrey E Biteng / The National
More than 1,000 people gathered for a candlelight vigil in Dubai to remember the 148 people killed, 132 of them children, in Tuesday’s attack by Taliban militants on a Pakistan army high school in PesShow more

‘My Peshawar has now become a city of terror,’ says Pakistani resident at Dubai candlelight vigil



DUBAI // More than 1,000 people gathered for a candlelight vigil in Dubai on Wednesday night in honour of 148 people killed – 132 of them children – in an attack on a Pakistan army high school in Peshawar on Tuesday.

People of all nationalities met at the Pakistan consulate in the city to pay their respects.

The terror attack by Taliban militants had not only affected the Pakistani community, said Javed Jalil Khattak, the consul general.

“I am thankful to the community members who have come here to pay their tributes. It is the saddest moment not just for us, but for the whole world.”Mr Khattak said.

The vigil, he said, showed that Pakistanis, regardless of where they come from, are united in their fight against terrorism.

“Pakistan is the worst victim of terrorism and we are paying the price in the form of the blood of our children,” he told the crowd.

For one couple, the attack has ruined their home, Peshawar.

“I don’t want to go back,” said Mrs Khan, who cried as she lit a candle. “My Peshawar, once famous as city of flowers, has now become the city of terror.”

“We came to Dubai two days ago to have fun but everything has been destroyed. We have been crying since yesterday,” said her husband.

A Pakistani member of parliament, who attended the vigil, said she prayed no other nation would ever have to face such tragedy.

“I hope we as a nation have learned a lesson. Pakistanis have to tackle this issue by themselves,” Alizeh Iqbal Haider said.

“It is an ugly reminder and all of us have to wake up.”

Others questioned the needlessness of the attack, saying it should act as a wake-up call.

“I don’t understand why we wait for such tragedies to happen and then we react,” resident Omer Alvi said. “We have to realise that something has terribly gone wrong within our society and we have to fix it as early as possible.”

Mr Alvi, who lit a candle, said his colleague’s nephews were killed in the attack.

Asra Lashari, from Pakistan, said she believed those involved should be executed.

“I am a mother of two children and when I saw those innocent faces, I couldn’t believe that someone could kill them brutally. I want all these culprits hanged publicly.”

Ms Lashari is trying to collect one million signatures which will then be sent to the school in a show of solidarity for the victims, their families, and the greater community.

Pakistanis and their government have to work together to stop extremism and hate speeches, said Tanya Daud, who attended the vigil with her sisters.

“We cannot afford to have extremist mindsets in our society. We are already blended a lot and now we have to make sure to grab any person or group who is promoting hate in the name of faith,” she said.

“Our faith does not teach all this.”

Although most mourners came to pay their respects after the sun went down, others came to the consulate in the morning.

“May God bless their souls,” said a message left by a group of children from a local school. “We are with Pakistani children at these difficult times.”

The Pakistan embassy and consulate declared there would be three days of mourning in light of the attack, with the country’s flag flying at half mast. All scheduled festive events have been postponed.

Books of condolences are available at each venue for those who wish to leave a message, and a funeral prayer has been held at the consulate.

People who wish to pay their respects in Abu Dhabi can do so at a meeting being held at the embassy on Thursday morning.

akhaishgi@thenational.ae

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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The National Archives, Abu Dhabi

Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.

Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en

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How to apply for a drone permit
  • Individuals must register on UAE Drone app or website using their UAE Pass
  • Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
  • Upload the training certificate from a centre accredited by the GCAA
  • Submit their request
What are the regulations?
  • Fly it within visual line of sight
  • Never over populated areas
  • Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
  • Users must avoid flying over restricted areas listed on the UAE Drone app
  • Only fly the drone during the day, and never at night
  • Should have a live feed of the drone flight
  • Drones must weigh 5 kg or less