Washington on Sunday dismissed as false a claim by Tehran's foreign minister that the US and Iran had made a deal to exchange prisoners.
Iran's Foreign Minister Hossein Amirabdollahian told state TV earlier that a deal had recently been brokered and a prisoner exchange would happen within a “short period”.
“On our part everything is ready, while the US is currently working on the final technical co-ordination”, Mr Amirabdollahian said, according to Reuters.
But both the US State Department and the White House National Security Council (NSC) denied the claim.
“Statements from Iranian officials that a deal regarding the exchange of prisoners has been reached are another especially cruel lie that only adds to the suffering of their families”, State Department spokesman Ned Price said.
The NSC also said the claim of a deal was “false”, noting it had “nothing to announce at this time”.
Iran's claim comes after a remarkable interview last week in which Siamak Namazi, a businessman with dual US-Iranian citizenship, spoke by phone to CNN's Christiane Amanpour from inside Iran's notorious Evin prison.
“I desperately need President [Joe] Biden to finally hear us out, to finally hear our cry for help and bring us home”, he said.
Mr Namazi in January went on hunger strike to bring attention to his plight. His interview came less than a week after he joined two other detained Americans — Emad Shargi, a businessman, and Morad Tahbaz, a conservationist — and wrote a letter to Mr Biden, pleading for help.
Mr Namazi's father, Baquer Namazi, was released on medical grounds in October after more than six years in detention.
Mr Namazi was sentenced in 2016 to 10 years in prison, accused of spying and co-operating with the US government. Other prisoners are US-Iranian businessman Emad Sharghi and Iranian-American environmentalist Morad Tahbaz, who also holds British citizenship.
“Unfortunately, Iranian officials will not hesitate to make things up, and the latest cruel claim will cause more heartache for the families of Siamak Namazi, Emad Shargi, and Morad Tahbaz”, an NSC representative said.
“We remain committed to securing the freedom of Siamak, Emad, and Morad, but we have nothing to announce at this time.”
Tehran has for years sought the release of more than two dozen Iranians or Iranian-American citizens held in the US under various convictions.
Iran, which holds dozens of Iranian dual nationals and foreigners, has been accused by rights activists of arresting them to try to extract concessions from other countries, which it denies.
On Friday, Saudi Arabia and Iran reached an agreement to resume diplomatic relations, in a historic deal brokered by China.
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.”
'Dark Waters'
Directed by: Todd Haynes
Starring: Mark Ruffalo, Anne Hathaway, William Jackson Harper
Rating: ****
Representing%20UAE%20overseas
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Our legal consultants
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Match info:
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Sterling (8'), Walker (52')
Newcastle United 1
Yedlin (30')
From Europe to the Middle East, economic success brings wealth - and lifestyle diseases
A rise in obesity figures and the need for more public spending is a familiar trend in the developing world as western lifestyles are adopted.
One in five deaths around the world is now caused by bad diet, with obesity the fastest growing global risk. A high body mass index is also the top cause of metabolic diseases relating to death and disability in Kuwait, Qatar and Oman – and second on the list in Bahrain.
In Britain, heart disease, lung cancer and Alzheimer’s remain among the leading causes of death, and people there are spending more time suffering from health problems.
The UK is expected to spend $421.4 billion on healthcare by 2040, up from $239.3 billion in 2014.
And development assistance for health is talking about the financial aid given to governments to support social, environmental development of developing countries.
Profile Box
Company/date started: 2015
Founder/CEO: Mohammed Toraif
Based: Manama, Bahrain
Sector: Sales, Technology, Conservation
Size: (employees/revenue) 4/ 5,000 downloads
Stage: 1 ($100,000)
Investors: Two first-round investors including, 500 Startups, Fawaz Al Gosaibi Holding (Saudi Arabia)
Squad
Ali Kasheif, Salim Rashid, Khalifa Al Hammadi, Khalfan Mubarak, Ali Mabkhout, Omar Abdulrahman, Mohammed Al Attas, Abdullah Ramadan, Zayed Al Ameri (Al Jazira), Mohammed Al Shamsi, Hamdan Al Kamali, Mohammed Barghash, Khalil Al Hammadi (Al Wahda), Khalid Essa, Mohammed Shaker, Ahmed Barman, Bandar Al Ahbabi (Al Ain), Al Hassan Saleh, Majid Suroor (Sharjah) Walid Abbas, Ahmed Khalil (Shabab Al Ahli), Tariq Ahmed, Jasim Yaqoub (Al Nasr), Ali Saleh, Ali Salmeen (Al Wasl), Hassan Al Muharami (Baniyas)
Off-roading in the UAE: How to checklist
The biog
Name: Younis Al Balooshi
Nationality: Emirati
Education: Doctorate degree in forensic medicine at the University of Bonn
Hobbies: Drawing and reading books about graphic design
Fixtures:
Wed Aug 29 – Malaysia v Hong Kong, Nepal v Oman, UAE v Singapore
Thu Aug 30 - UAE v Nepal, Hong Kong v Singapore, Malaysia v Oman
Sat Sep 1 - UAE v Hong Kong, Oman v Singapore, Malaysia v Nepal
Sun Sep 2 – Hong Kong v Oman, Malaysia v UAE, Nepal v Singapore
Tue Sep 4 - Malaysia v Singapore, UAE v Oman, Nepal v Hong Kong
Thu Sep 6 – Final
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