The footage was remarkable: black-clad women swirling swords, performing backflips and running up walls in gravity-defying stunts that could have graced any Matrix movie.
The Reuters video story showed how Iranian women are seeking empowerment and sexual equality through sports. The only problem was the report's headline mistakenly described the peaceful Iranian students of the Japanese martial art of Ninjutsu as "assassins".
It was a costly error.
Although Reuters later corrected the headline, Iranian authorities on Thursday suspended the press accreditation for its 11 staff in Tehran. It was a serious blow to the British news agency because Iran's disputed nuclear programme is a major news story.
A day earlier some of the female Ninjas told Iran's English language Press TV they were filing lawsuits against Reuters for defamation. The thrust of their complaint was they had taken up the sport to keep fit, but had been tarred as potential killers primed to defend the Islamic republic against western and Israeli invaders.
One woman said the February 16 Reuters report could damage the women's chances to participate in international tournaments because "Reuters is considered by many to be a reliable source". Raheleh Davoudzadeh told Press TV: "We want the whole world to know that Reuters has lied about us."
The spat highlights Iran's sensitivity about its image and its suspicions that western media are determined to portray Iran as backward and violent. Iran is particularly paranoid about Britain, which it brands as a "colonial old fox" that pulls the strings of the "Great Satan" America.
But the Iranian regime also has exploited the Reuters report to crack down on the few non-Iranian journalists still working in Tehran, some analysts said.
Iran's nimble women Ninjas were first featured in a Press TV broadcast on January 29 and posted online four days later. The irresistible footage was swiftly snatched up by some British newspapers such as the high-circulation Daily Mail, which invited readers on February 6 to "Meet Iran's Female Ninja Assassins".
As Israel "steps up pressure on Iran over fears the country is building nuclear weapons, these lethal ninjas could be called upon to represent their country if relations descend into military conflict," the newspaper said.
It was another 10 days, however, before Reuters picked up the story with its own video and slide show. Its headline read: "Thousands of female Ninjas train as Iran's Assassins."
After a complaint by the women's Ninjutsu school, Reuters corrected the headline to read: "Three thousand women Ninjas train in Iran."
The news agency insisted there was no malicious intent behind its mistake. "We acknowledge this error occurred and regard it as a very serious matter. It was promptly corrected the same day it came to our attention," Reuters editor-in-chief, Stephen J Adler, said on Thursday. "In addition, we have conducted an internal review and have taken appropriate steps to prevent a recurrence."
Reuters, he added, was in discussions with Iranian authorities to restore the accreditation of its staff in Tehran.
Press TV, which has spearheaded the blowback against Reuters, is viewed as Iran's propaganda mouthpiece in the West.
Ofcom, Britain's independent media watchdog, revoked the channel's licence in January for failing to pay a record £100,000 fine for broadcasting an interview with a prisoner obtained under duress.
Unlike Press TV, Reuters enjoys an excellent reputation for accuracy and impartiality. It had managed to maintain its bureau in Tehran after Iran's disputed presidential elections in June 2009 which was followed by a crackdown on Iranian journalists. Visas for western reporters have since been very hard to come by. The activities of those allowed in on rare visits are strictly monitored and curtailed.
Writing on his EA WorldView portal, Scott Lucas, an Iran expert at Birmingham University in England, said Tehran's measures against Reuters represented a "significant victory" for a regime trying to shield itself from public scrutiny of its economic tensions and political infighting.
mtheodoulou@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.”
How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
'Top Gun: Maverick'
Rating: 4/5
Directed by: Joseph Kosinski
Starring: Tom Cruise, Val Kilmer, Jennifer Connelly, Jon Hamm, Miles Teller, Glen Powell, Ed Harris
The language of diplomacy in 1853
Treaty of Peace in Perpetuity Agreed Upon by the Chiefs of the Arabian Coast on Behalf of Themselves, Their Heirs and Successors Under the Mediation of the Resident of the Persian Gulf, 1853
(This treaty gave the region the name “Trucial States”.)
We, whose seals are hereunto affixed, Sheikh Sultan bin Suggar, Chief of Rassool-Kheimah, Sheikh Saeed bin Tahnoon, Chief of Aboo Dhebbee, Sheikh Saeed bin Buyte, Chief of Debay, Sheikh Hamid bin Rashed, Chief of Ejman, Sheikh Abdoola bin Rashed, Chief of Umm-ool-Keiweyn, having experienced for a series of years the benefits and advantages resulting from a maritime truce contracted amongst ourselves under the mediation of the Resident in the Persian Gulf and renewed from time to time up to the present period, and being fully impressed, therefore, with a sense of evil consequence formerly arising, from the prosecution of our feuds at sea, whereby our subjects and dependants were prevented from carrying on the pearl fishery in security, and were exposed to interruption and molestation when passing on their lawful occasions, accordingly, we, as aforesaid have determined, for ourselves, our heirs and successors, to conclude together a lasting and inviolable peace from this time forth in perpetuity.
Taken from Britain and Saudi Arabia, 1925-1939: the Imperial Oasis, by Clive Leatherdale
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
UAE currency: the story behind the money in your pockets
Tips on buying property during a pandemic
Islay Robinson, group chief executive of mortgage broker Enness Global, offers his advice on buying property in today's market.
While many have been quick to call a market collapse, this simply isn’t what we’re seeing on the ground. Many pockets of the global property market, including London and the UAE, continue to be compelling locations to invest in real estate.
While an air of uncertainty remains, the outlook is far better than anyone could have predicted. However, it is still important to consider the wider threat posed by Covid-19 when buying bricks and mortar.
Anything with outside space, gardens and private entrances is a must and these property features will see your investment keep its value should the pandemic drag on. In contrast, flats and particularly high-rise developments are falling in popularity and investors should avoid them at all costs.
Attractive investment property can be hard to find amid strong demand and heightened buyer activity. When you do find one, be prepared to move hard and fast to secure it. If you have your finances in order, this shouldn’t be an issue.
Lenders continue to lend and rates remain at an all-time low, so utilise this. There is no point in tying up cash when you can keep this liquidity to maximise other opportunities.
Keep your head and, as always when investing, take the long-term view. External factors such as coronavirus or Brexit will present challenges in the short-term, but the long-term outlook remains strong.
Finally, keep an eye on your currency. Whenever currency fluctuations favour foreign buyers, you can bet that demand will increase, as they act to secure what is essentially a discounted property.
Our Time Has Come
Alyssa Ayres, Oxford University Press
Company profile
Name: One Good Thing
Founders: Bridgett Lau and Micheal Cooke
Based in: Dubai
Sector: e-commerce
Size: 5 employees
Stage: Looking for seed funding
Investors: Self-funded and seeking external investors
