The UN's Human Rights Council voted on Thursday to investigate what it heard was a worsening wave of violence against protesters in Iran.
An urgent session of the council in Geneva backed the creation of a fact-finding mission to report on alleged abuses by the regime.
It heard that dozens of people, including five children, had been killed in Iran in the past week as the crackdown escalates.
UN high commissioner for human rights, Volker Turk, said Iran was in a "full-fledged human rights crisis" after two months of anti-regime protests.
Mr Turk said more than 14,000 people had been arrested and that a "conservative estimate" was that 300 had died, including 40 children.
"It pains me to see what is happening in the country — the images of children killed, of women beaten in the streets, of people sentenced to death," he said.
A resolution passed by the council sets up a new fact-finding mission to collect evidence of abuses and ensure it could be used in court.
It will have a mandate separate from the UN's special rapporteur on Iran, who has been denied access to the country.
The resolution championed by Germany, which with Iceland called the special session, also calls on Iran to take all measures needed to prevent arbitrary arrests and killings.
"The Iranian demonstrators have no seat on the Human Rights Council in Geneva and no voice of their own in the United Nations," said German Foreign Minister Annalena Baerbock.
"Today the UN Human Rights Council can raise its voice for indivisible human rights in Iran."
Protests in Iran — in pictures
The protests were sparked by the death of Mahsa Amini, a 22-year-old woman, in the custody of Iran's morality police.
The UN rapporteur, Javid Rehman, has described indiscriminate use of force against protesters, as well as harassment of women for wearing their hijab incorrectly.
He told the council that top officials in Iran had shown no willingness to engage with demonstrators but instead told security forces to use violence.
Families of children who died have been given government counter-narratives that they fell from a height, took their own lives or were poisoned by mysterious enemy agents, he said.
"Prisons are now bursting with all those who had dreamed of and worked for a better future for Iran," Mr Rehman said.
"In the past seven days alone, crackdown on protests has intensified with at least 60 to 70 persons killed."
Iranian delegate Khadijeh Karimi told the council that western powers were abusing the UN body for political ends.
She described Ms Amini's death as unfortunate but blamed western governments and foreign provocateurs for spurring on violent protests.
The US said a new fact-finding mission was needed because Iran had shown no willingness to hold independent investigations.
Iran's morality police and other security forces have been sanctioned by western powers including the UK, US and European Union because of the protests.
Thursday's special session was the first in the Human Rights Council dedicated to Iran, and the second overall this year after a discussion of the war in Ukraine.
It was focused especially on the plight of Iranian women and children, after the UN reported at least 27 children being killed in the violence.
Some children were killed by live ammunition or beaten to death, while others were arrested in raids on schools for alleged participation in the protests, the council heard.
Germany and Iceland's request for a special meeting was backed by 17 of 47 members of the UN council, including the US, Britain and France.
Some German MPs are urging the government to go further still by tightening sanctions and classifying Iran's Revolutionary Guard as terrorists.
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Coffee: black death or elixir of life?
It is among the greatest health debates of our time; splashed across newspapers with contradicting headlines - is coffee good for you or not?
Depending on what you read, it is either a cancer-causing, sleep-depriving, stomach ulcer-inducing black death or the secret to long life, cutting the chance of stroke, diabetes and cancer.
The latest research - a study of 8,412 people across the UK who each underwent an MRI heart scan - is intended to put to bed (caffeine allowing) conflicting reports of the pros and cons of consumption.
The study, funded by the British Heart Foundation, contradicted previous findings that it stiffens arteries, putting pressure on the heart and increasing the likelihood of a heart attack or stroke, leading to warnings to cut down.
Numerous studies have recognised the benefits of coffee in cutting oral and esophageal cancer, the risk of a stroke and cirrhosis of the liver.
The benefits are often linked to biologically active compounds including caffeine, flavonoids, lignans, and other polyphenols, which benefit the body. These and othetr coffee compounds regulate genes involved in DNA repair, have anti-inflammatory properties and are associated with lower risk of insulin resistance, which is linked to type-2 diabetes.
But as doctors warn, too much of anything is inadvisable. The British Heart Foundation found the heaviest coffee drinkers in the study were most likely to be men who smoked and drank alcohol regularly.
Excessive amounts of coffee also unsettle the stomach causing or contributing to stomach ulcers. It also stains the teeth over time, hampers absorption of minerals and vitamins like zinc and iron.
It also raises blood pressure, which is largely problematic for people with existing conditions.
So the heaviest drinkers of the black stuff - some in the study had up to 25 cups per day - may want to rein it in.
Rory Reynolds
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ICC Awards for 2021
MEN
Cricketer of the Year – Shaheen Afridi (Pakistan)
T20 Cricketer of the Year – Mohammad Rizwan (Pakistan)
ODI Cricketer of the Year – Babar Azam (Pakistan)
Test Cricketer of the Year – Joe Root (England)
WOMEN
Cricketer of the Year – Smriti Mandhana (India)
ODI Cricketer of the Year – Lizelle Lee (South Africa)
T20 Cricketer of the Year – Tammy Beaumont (England)
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.”