A series of bomb blasts in Mumbai in 1993 killed 257 people.
A series of bomb blasts in Mumbai in 1993 killed 257 people.

UAE sends suspected bomber back to India



DUBAI // A key suspect in the serial bomb blasts that killed 257 people in Mumbai in 1993 was under arrest in India last night after being sent back there from the UAE. Taher Mohammed Merchant, also known as Taher Taklya or Taher Mohammed Dada, was taken into police custody as soon as he arrived at the Chhatrapati Shivaji International Airport in Mumbai.

Indian authorities asked for Mr Merchant to be sent back in 2004 under an agreement with the UAE signed in 2000. His arrival in India brings to an end a six-year custody wrangle. MK Lokesh, the Indian ambassador to the UAE, said Mr Merchant's return was a welcome development and a positive step in relations between India and the UAE. He confirmed that Mr Merchant had been sent back to India from Abu Dhabi airport on Tuesday.

The arrest revives one of the longest-running cases in Indian judicial history. Mr Merchant, 54, is accused of taking an active part in the attack at every stage, arranging for the training of the participants, smuggling weapons and collecting funds. He is also a close associate of Dawood Ibrahim, India's most wanted gangster and the man believed to have masterminded the attacks. "Merchant is very important to the conspiracy," said the Mumbai special public prosecutor Ujwal Nikam, who has been in charge of the bombing case since its inception.

"He played a vital role and was one of the key conspirators in the serial blasts. He was one of those who actually supported, aided and assisted the conspirators and was also involved in the landing of arms on Indian soil." Mr Merchant's arrest will strengthen the police case against four defendants already on trial in a Mumbai court, Mr Nikam said. As well as the 257 deaths, more than 700 were injured when 13 powerful bombs exploded in Mumbai in a period of just over two hours on the afternoon of March 12, 1993. Targets included the city's stock exchange, banks, hotels and a shopping complex.

More than 30 suspects remain at large and at least 100 people have been convicted over the bombings, of whom a dozen were sentenced to death and 20 given life sentences. More than 50 others are serving between four and 14 years in jail. The initial trials ended in 2007, after dragging on for 12 years. Like the four defendants now on trial, Mr Merchant will be tried under a tough terrorism law, the Terrorist and Disruptive Activities (Prevention) Act. He faces the death penalty if convicted.

"We have been granted custody of Mr Merchant until June 14," said Aijaz Khan, a Central Bureau of Investigation lawyer who is prosecuting all five. "His case will be heard along with the others." Victims of the 1993 attacks reacted angrily to news of Mr Merchant's return to India, a development considered long overdue. Bitterness clouded the response of Deepika Mirchandani, a 28-year-old bank manager and a Mumbai bombings survivor.

"We have already suffered so much," she said. "How does it matter now if the case goes on for another 14 years? The justice system moves so slowly that it doesn't really matter after so long." Deep gashes on her arms and a scar on her face were visible reminders of the blast that shattered the walls of her first-floor apartment, where she lived with her grandmother. A bomb hidden in a bus blew up as the bus passed outside her apartment.

The Indian judicial system is notorious for long, drawn-out cases. This week eight former executives at the Union Carbide chemical plant in Bhopal were convicted of causing death by negligence more than 25 years after the toxic gas leak there, and that case continues because they have said they will appeal. And 26 years after the assassination of the former Indian prime minister Indira Ghandi, trials in connection with anti-Sikh uprisings that followed the murder are still going on.

pmenon@thenational.ae rtalwar@thenational.ae

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German intelligence warnings
  • 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
  • 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
  • 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250 

Source: Federal Office for the Protection of the Constitution

Vidaamuyarchi

Director: Magizh Thirumeni

Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra

Rating: 4/5

 

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Abu Dhabi Harlequins 17

Jebel Ali Dragons 20

Harlequins Tries: Kinivilliame, Stevenson; Cons: Stevenson 2; Pen: Stevenson

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Indoor cricket in a nutshell

Indoor Cricket World Cup - Sep 16-20, Insportz, Dubai

16 Indoor cricket matches are 16 overs per side

8 There are eight players per team

There have been nine Indoor Cricket World Cups for men. Australia have won every one.

5 Five runs are deducted from the score when a wickets falls

Batsmen bat in pairs, facing four overs per partnership

Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.

Zones

A Front net, behind the striker and wicketkeeper: 0 runs

B Side nets, between the striker and halfway down the pitch: 1 run

Side nets between halfway and the bowlers end: 2 runs

Back net: 4 runs on the bounce, 6 runs on the full

Jordan cabinet changes

In

  • Raed Mozafar Abu Al Saoud, Minister of Water and Irrigation
  • Dr Bassam Samir Al Talhouni, Minister of Justice
  • Majd Mohamed Shoueikeh, State Minister of Development of Foundation Performance
  • Azmi Mahmud Mohafaza, Minister of Education and Minister of Higher Education and Scientific Research
  • Falah Abdalla Al Ammoush, Minister of Public Works and Housing
  • Basma Moussa Ishakat, Minister of Social Development
  • Dr Ghazi Monawar Al Zein, Minister of Health
  • Ibrahim Sobhi Alshahahede, Minister of Agriculture and Minister of Environment
  • Dr Mohamed Suleiman Aburamman, Minister of Culture and Minister of Youth

Out

  • Dr Adel Issa Al Tawissi, Minister of High Education and Scientific Research
  • Hala Noaman “Basiso Lattouf”, Minister of Social Development
  • Dr Mahmud Yassin Al Sheyab, Minister of Health
  • Yahya Moussa Kasbi, Minister of Public Works and Housing
  • Nayef Hamidi Al Fayez, Minister of Environment
  • Majd Mohamed Shoueika, Minister of Public Sector Development
  • Khalid Moussa Al Huneifat, Minister of Agriculture
  • Dr Awad Abu Jarad Al Mushakiba, Minister of Justice
  • Mounir Moussa Ouwais, Minister of Water and Agriculture
  • Dr Azmi Mahmud Mohafaza, Minister of Education
  • Mokarram Mustafa Al Kaysi, Minister of Youth
  • Basma Mohamed Al Nousour, Minister of Culture
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
Paatal Lok season two

Directors: Avinash Arun, Prosit Roy 

Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong

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The Sand Castle

Director: Matty Brown

Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea

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Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
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Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
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Emergency

Director: Kangana Ranaut

Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry 

Rating: 2/5

Aldar Properties Abu Dhabi T10

*November 15 to November 24

*Venue: Zayed Cricket Stadium, Abu Dhabi

*Tickets: Start at Dh10, from ttensports.com

*TV: Ten Sports

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*2018 winners: Northern Warriors

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Company profile: buybackbazaar.com

Name: buybackbazaar.com

Started: January 2018

Founder(s): Pishu Ganglani and Ricky Husaini

Based: Dubai

Sector: FinTech, micro finance

Initial investment: $1 million

COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners

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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