A floral tribute laid on the behalf of British Prime Minister Boris Johnson at the September 11 Memorial Garden at Grosvenor Square on September 11, 2021 in London, England. (Photo by Hollie Adams / Getty Images)
A floral tribute laid on the behalf of British Prime Minister Boris Johnson at the September 11 Memorial Garden at Grosvenor Square on September 11, 2021 in London, England. (Photo by Hollie Adams / Getty Images)
A floral tribute laid on the behalf of British Prime Minister Boris Johnson at the September 11 Memorial Garden at Grosvenor Square on September 11, 2021 in London, England. (Photo by Hollie Adams / Getty Images)
A floral tribute laid on the behalf of British Prime Minister Boris Johnson at the September 11 Memorial Garden at Grosvenor Square on September 11, 2021 in London, England. (Photo by Hollie Adams / G

9/11 attackers failed to undermine freedom and democracy, Boris Johnson says


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British Prime Minister Boris Johnson says the 9/11 terrorists failed to undermine the faith of “free peoples” in a speech to mark the 20th anniversary of the attacks.

In his address, at a memorial event at the Olympic Park in east London on Saturday, Mr Johnson said that while the terror threat remained, people have refused to live their lives in “permanent fear”.

He said that recent events in Afghanistan have only strengthened people’s belief in freedom and democracy, “which will always prevail over every foe".

“Twenty years ago, September 11, 2001, became, in former US president Franklin Delano Roosevelt’s words after Pearl Harbour, a ‘date which will live in infamy',” he said.

“On a crystal clear morning, terrorists attacked the United States with the simple goal of killing or maiming as many human beings as possible, and by inflicting such bloodshed in the world’s greatest democracy, they tried to destroy the faith of free peoples everywhere in the open societies which terrorists despise and which we cherish.

“And it is precisely because of the openness and tolerance of the United States that people of almost every nationality and religion were among the 2,977 murdered on that day, including 67 Britons, each of them a symbol of the eternal friendship between the United Kingdom and the United States.

“But while the terrorists imposed their burden of grief and suffering, and while the threat persists today, we can now say with the perspective of 20 years that they failed to shake our belief in freedom and democracy; they failed to drive our nations apart, or cause us to abandon our values, or to live in permanent fear."

Mr Johnson said that Saturday's gathering in east London demonstrates “the failure of terrorism and the strength of the bonds between us".

American Airlines flight crew pay their respects at the September 11 Memorial Garden at Grosvenor Square in London, England. (Photo by Hollie Adams / Getty Images)
American Airlines flight crew pay their respects at the September 11 Memorial Garden at Grosvenor Square in London, England. (Photo by Hollie Adams / Getty Images)

His words come as the head of Britain's domestic intelligence service said on Friday that the Taliban's takeover of Afghanistan has “emboldened” extremists and could lead to further atrocities.

Ken McCallum said MI5 had disrupted six “late-stage” plots developed during coronavirus lockdowns over the past 18 months, and 31 in the past four years.

Commemoration events are being held around the world on Saturday for the anniversary of September 11, including several in London.

A group called the September 11 UK Families Support Group plans to hold a private remembrance service in Grosvenor Square memorial garden and will hold a candlelit vigil afterwards.

On Saturday, London Mayor Sadiq Khan also paid tribute to those who lost their lives.

"The terror attacks on September 11 2001 changed our world forever," he said.

“Today, we remember the innocent people who lost their lives – including the 67 Britons, many of whom were Londoners.

“Our values of freedom, tolerance and respect will always, always prevail. Hate will never win.”

Keir Starmer, Labour Party leader, lays a floral tribute at the September 11 Memorial Garden at Grosvenor Square on September 11, 2021 in London, England. (Photo by Hollie Adams / Getty Images)
Keir Starmer, Labour Party leader, lays a floral tribute at the September 11 Memorial Garden at Grosvenor Square on September 11, 2021 in London, England. (Photo by Hollie Adams / Getty Images)

The Queen has marked the 20th anniversary of the 9/11 terror attacks with a message to the President of the United States.

“As we mark the 20th anniversary of the terrible attacks on September 11 2001, my thoughts and prayers — and those of my family and the entire nation — remain with the victims, survivors and families affected, as well as the first responders and rescue workers called to duty," she said.

“My visit to the site of the World Trade Centre in 2010 is held fast in my memory. It reminds me that as we honour those from many nations, faiths and backgrounds who lost their lives, we also pay tribute to the resilience and determination of the communities who joined together to rebuild.”

Opposition Labour Party leader Keir Starmer laid flowers at the 9/11 memorial in London.

"This anniversary is a chance for all of us to say we too will never forget them," he said.

Acting US ambassador, Philip T Reeker, said the special relationship between the United States and the UK remains “so crucial to all of us" and said the US would be “forever grateful” for the “enduring friendship”.

A special changing of the guard ceremony during which the US national anthem was played took place at Windsor Castle on Saturday to mark the anniversary.

Hundreds of people gathered inside and outside the walls of the castle to watch as the Band of the Welsh Guards processed through the gates then struck up the Star Spangled Banner.

Military personnel arriving for the Guard Change at Windsor Castle. Picture date: Saturday September 11, 2021.
Military personnel arriving for the Guard Change at Windsor Castle. Picture date: Saturday September 11, 2021.

The anthem was played at Buckingham Palace 20 years ago on September 12, 2001, in solidarity with the victims of the atrocity.

Saturday’s rendition was followed by a minute’s silence.

Mr Reeker said the ceremony was a reminder that the US had “no closer ally” than the United Kingdom.

“It’s an incredible privilege to represent my country today on this sombre anniversary but at this ceremony,” he said.

Delegates from the United States Embassy including Acting Ambassador, Philip T Reeker, Charge d'Affaires, at the Guard Change at Windsor Castle, to mark the 20th anniversary of the terrorist attack by al Qaida in the United States. Picture date: Saturday September 11, 2021.
Delegates from the United States Embassy including Acting Ambassador, Philip T Reeker, Charge d'Affaires, at the Guard Change at Windsor Castle, to mark the 20th anniversary of the terrorist attack by al Qaida in the United States. Picture date: Saturday September 11, 2021.

“We’re incredibly grateful to her Majesty the Queen for the playing of our national anthem.

“(It) represents the friendship and solidarity between our two countries, the United States and the United Kingdom, and united is the key word.

“This has shown the special relationship remains so crucial to all of us.

“Speaking for the United States, we have no closer ally and no closer friend in good times and in bad times, and we are very much reminded of that today … through the enduring relationship between our two countries.”

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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Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

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- 5 wins in 22 months as pro
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Rating: 1/5

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GREATEST ROYAL RUMBLE CARD

The line-up as it stands for the Greatest Royal Rumble in Saudi Arabia on April 27

50-man Royal Rumble

Universal Championship
Brock Lesnar (champion) v Roman Reigns

Casket match
The Undertaker v Rusev

Intercontinental Championship
Seth Rollins (champion) v The Miz v Finn Balor v Samoa Joe

SmackDown Tag Team Championship
The Bludgeon Brothers v The Usos

Raw Tag Team Championship
Sheamus and Cesaro v Bray Wyatt and Matt Hardy

United States Championship
Jeff Hardy (champion) v Jinder Mahal

Singles match
Triple H v John Cena

To be confirmed
AJ Styles will defend his WWE World Heavyweight title and Cedric Alexander his Cruiserweight Championship, but matches have yet to be announced

Updated: September 11, 2021, 12:02 PM