Worker tried to bury colleague alive, Dubai court hears


Salam Al Amir
  • English
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DUBAI // A Bangladeshi worker on Wednesday denied trying to bury his countryman alive after throwing him in a ditch then stuffing sand down his throat over a Dh3,000 debt.

Dubai Criminal Court heard that on September 2 last year M S, 33, told A M, a carpenter, that he had money buried in sand near Al Qusais graveyard to lure him into meeting there.

Prosecutors said that the two men then dug a hole in the ground before M S took the carpenter by surprise and threw him into the ditch, attacking him and stuffing sand into his mouth.

The pair fought and then some passers-by frightened the attacker, who let go of his victim and ran away, the court heard.

M S was charged with attempted murder, which he denied in court.

The defendant said: “He called me and asked me to come see him so he can return Dh3,000 I gave him in return for him helping me get a work visa for my brother but, when I arrived to see him, he told me that he won’t get my brother a visa and will not return my money.

“Then he and two other men who were with him assaulted me so I just punched him in the face near his eye but did not try to kill him.”

The carpenter said in his testimony that he and the defendant worked for the same company and were out for a walk at about 10pm when M S told him he needed to relieve himself, so they walked towards a deserted spot.

“When we were in an unseen area, I was on the phone and M S suddenly attacked me and tried to strangle me with a piece of cloth then stuffed sand into my mouth,” said A M, who added that men walking nearby scared M S off.

The carpenter said that M S’s attempt to kill him was over an amount of money that he had borrowed.

The men who were passing by rushed to A M’s aid and called police. He was taken to Al Baraha Hospital, while the defendant was arrested few hours later.

Policeman H A, 47, testified that the two men had managed to dig a hole the size of a grave, which M S wanted to bury A M in.

“The victim was thrown into the hole and MS started covering him with sand and stuffing his mouth with sand as well but the victim managed to resist and grab his attacker by the neck before a number of passers-by saved him after they found him almost buried, except for his head and arms,” said the policeman.

The officer added that there were signs of a struggle on the neck and body of the defendant, which he denied were the result of the fight between him and A M, saying instead that he fell. “The victim had clear marks of strangulation on his neck left by the piece of cloth and his eyes had popped out and sand was still in his mouth and ears,” said the officer.

The next hearing will be on April 15.

salamir@thenational.ae

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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.”