• Pakistani police collect evidence at the site of a car bombing in Islamabad on December 23. Reuters
    Pakistani police collect evidence at the site of a car bombing in Islamabad on December 23. Reuters
  • The blast was reported near an area with upscale markets, and university and government offices. EPA
    The blast was reported near an area with upscale markets, and university and government offices. EPA
  • Rescue workers at the scene. AP Photo
    Rescue workers at the scene. AP Photo
  • Security officials inspect the scene. EPA
    Security officials inspect the scene. EPA
  • The powerful car bomb exploded near a residential area, police said. AP Photo
    The powerful car bomb exploded near a residential area, police said. AP Photo
  • The attack raised fears that militants have a presence in one of the country's safest cities. AP Photo
    The attack raised fears that militants have a presence in one of the country's safest cities. AP Photo
  • Police stand guard at the site of bombing. AP
    Police stand guard at the site of bombing. AP
  • Investigators collect evidence from the wreckage of the car. AP
    Investigators collect evidence from the wreckage of the car. AP
  • Armed police guard the cordoned-off crime scene. Reuters
    Armed police guard the cordoned-off crime scene. Reuters
  • At least one policeman died in the attack. EPA
    At least one policeman died in the attack. EPA

Pakistani Taliban claim Islamabad suicide car bombing that killed police officer


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The Pakistani Taliban has claimed responsibility for a car bomb that killed at least one police officer and two suspects on Friday near a residential area in Islamabad.

It was the first such attack in the capital in years.

The city has largely been spared the low-level attacks carried out in Pakistan's megacities of Lahore and Karachi, and also in border areas near Afghanistan.

Senior police official Sohail Zafar Chattha said officers had been following a suspicious taxi with a male driver and a woman passenger.

“They were stopped and the long-haired man was asked to come out,” Mr Chattha told AFP.

“He came out, but quickly went back inside and pressed a button that blew up the car.”

At least three police officers and seven other people were wounded in the explosion, said officials.

Pakistan's Prime Minister Shahbaz Sharif thanked the police for their bravery.

“Police officers stopped the terrorists by sacrificing their blood and the nation salutes its brave men,” Mr Sharif said.

Extremists Tehreek-e-Taliban Pakistan — also known as the Pakistan Taliban — called off a stop-start ceasefire with the government in November and stepped up attacks on security forces.

An umbrella group of several militant factions, TTP is separate from the Afghan Taliban but has a similar hardline ideology.

Spokesman Mohammad Khalid Khurasani said one of the group's militants carried out Friday's suicide attack in Islamabad to avenge the killing of a senior TTP leader in the summer.

Abdul Wali, also known as Omar Khalid Khurasani, was killed in a roadside bombing in August in Afghanistan’s eastern province of Paktika.

His death was a heavy blow to TTP, who blamed Pakistani intelligence agents for the killing.

Friday's attack comes after Pakistani Taliban detainees overpowered their guards at a counterterrorism centre in north-western Pakistan on Sunday and took three officers hostage.

Pakistan's military said 25 detainees linked to the Pakistani Taliban were killed in a shootout on Tuesday, when special forces raided the centre in Bannu district in the Khyber Pakhtunkhwa province.

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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.”

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The flights 
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The past Palme d'Or winners

2018 Shoplifters, Hirokazu Kore-eda

2017 The Square, Ruben Ostlund

2016 I, Daniel Blake, Ken Loach

2015 DheepanJacques Audiard

2014 Winter Sleep (Kış Uykusu), Nuri Bilge Ceylan

2013 Blue is the Warmest Colour (La Vie d'Adèle: Chapitres 1 et 2), Abdellatif Kechiche, Adele Exarchopoulos and Lea Seydoux

2012 Amour, Michael Haneke

2011 The Tree of LifeTerrence Malick

2010 Uncle Boonmee Who Can Recall His Past Lives (Lung Bunmi Raluek Chat), Apichatpong Weerasethakul

2009 The White Ribbon (Eine deutsche Kindergeschichte), Michael Haneke

2008 The Class (Entre les murs), Laurent Cantet

Emergency phone numbers in the UAE

Estijaba – 8001717 –  number to call to request coronavirus testing

Ministry of Health and Prevention – 80011111

Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre

Emirates airline – 600555555

Etihad Airways – 600555666

Ambulance – 998

Knowledge and Human Development Authority – 8005432 ext. 4 for Covid-19 queries

Desert Warrior

Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

Company Profile

Company name: NutriCal

Started: 2019

Founder: Soniya Ashar

Based: Dubai

Industry: Food Technology

Initial investment: Self-funded undisclosed amount

Future plan: Looking to raise fresh capital and expand in Saudi Arabia

Total Clients: Over 50

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Updated: December 23, 2022, 2:08 PM