• From left, Austrian-Iranians Kamran Ghaderi and Massud Mossaheb, former hostages in Iran, are greeted by Belgium's Foreign Minister Hadja Lahbib in Brussels on June 2. EPA
    From left, Austrian-Iranians Kamran Ghaderi and Massud Mossaheb, former hostages in Iran, are greeted by Belgium's Foreign Minister Hadja Lahbib in Brussels on June 2. EPA
  • Ms Lahbib shakes hands with Mr Mossaheb at the Melsbroek Military Airport. EPA
    Ms Lahbib shakes hands with Mr Mossaheb at the Melsbroek Military Airport. EPA
  • The released hostages make their way across the tarmac. EPA
    The released hostages make their way across the tarmac. EPA
  • Mr Mossaheb and Mr Ghaderi exit the plane. AFP
    Mr Mossaheb and Mr Ghaderi exit the plane. AFP
  • From left, a Danish citizen who was also released, Mr Ghaderi, Mr Mossaheb and Ms Lahbib. AFP
    From left, a Danish citizen who was also released, Mr Ghaderi, Mr Mossaheb and Ms Lahbib. AFP

Iran frees one Danish citizen and two Austrian-Iranians


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Iran has released one Dane and two Austrian-Iranian citizens who had been detained in the country for several years.

The trio's release was announced by Austria and Belgium on Friday.

It was part of a prisoner swap in which Tehran got back an Iranian diplomat who has been convicted in Belgium on terrorism charges.

Austrian-Iranian citizens Kamran Ghaderi and Massud Mossaheb were released after 2,709 and 1,586 days, respectively.

The pair are now “on their way to Austria”, the country's foreign ministry said.

“I am very relieved that we can finally bring Karman Ghaderi and Massud Mossaheb home after years of arduous imprisonment in Iran,” said Austrian Foreign Minister Alexander Schallenberg.

“They are already on their way to Austria, where their families are eagerly waiting for them.

“Our years of diplomatic efforts to secure their release have borne fruit.”

He thanked Belgian Foreign Minister Hadja Lahbib and Omani Foreign Minister Sayyid Badr Al Busaidi for “their valuable support”.

Mr Al Busaidi expressed his delight on Twitter over a "positive", though undisclosed outcome, thanking Iran, Belgium and all contributors.

Belgium's Prime Minister Alexander De Croo said that he had informed the governments of Denmark and Austria of the release, which came a week after Tehran freed a Belgian aid worker in exchange for an Iranian diplomat who was convicted on terrorism charges.

“Belgium has successfully secured the release of two Austrians and one Dane who were unjustly held in detention in Iran,” said Hadja Lahbib.

Denmark’s Foreign Minister Lars Lokke Rasmussen said that he was “happy and relieved that a Danish citizen is on his way home to his family in Denmark after imprisonment in Iran”.

He did not name the person, saying their identity was “a personal matter” and he could not go into details.

Mr Rasmussen also thanked Belgium and said that Oman “played an important role”.

An Oman Royal Air Force Gulfstream IV, which had been on the ground in Tehran for several days, took off shortly before the announcement.

Mr Ghaderi, an Austrian-Iranian businessman, was arrested in 2016 and later sentenced to 10 years in prison for allegedly spying for the US – charges strongly rejected by his supporters.

Mr Mossaheb, also an Austrian-Iranian businessman, was arrested in 2019 and received a 10-year prison sentence after what Amnesty International called “a grossly unfair trial for vague national security offences”.

Amnesty had said Mr Mossaheb suffered from heart failure and diabetes, making his imprisonment much more dangerous for him.

Iranian state media and officials did not immediately acknowledge the release on Friday, which is part of the weekend in the country.

Iran has detained a number of foreigners and dual citizens over the years, accusing them of espionage and other state security offences.

Often those charged are sentenced following secretive trials in which rights groups say they have been denied due process.

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10pm: Al Shindagha Sprint – Group 3 (TB) $130,000 (D) 1,200m

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.”

The National's picks

4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young

MATCH INFO

Uefa Champions League last 16, second leg
Liverpool (0) v Atletico Madrid (1)
Venue: Anfield
Kick-off: Thursday, March 12, midnight
Live: On beIN Sports HD

Episode list:

Ep1: A recovery like no other- the unevenness of the economic recovery 

Ep2: PCR and jobs - the future of work - new trends and challenges 

Ep3: The recovery and global trade disruptions - globalisation post-pandemic 

Ep4: Inflation- services and goods - debt risks 

Ep5: Travel and tourism 

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Start-up hopes to end Japan's love affair with cash

Across most of Asia, people pay for taxi rides, restaurant meals and merchandise with smartphone-readable barcodes — except in Japan, where cash still rules. Now, as the country’s biggest web companies race to dominate the payments market, one Tokyo-based startup says it has a fighting chance to win with its QR app.

Origami had a head start when it introduced a QR-code payment service in late 2015 and has since signed up fast-food chain KFC, Tokyo’s largest cab company Nihon Kotsu and convenience store operator Lawson. The company raised $66 million in September to expand nationwide and plans to more than double its staff of about 100 employees, says founder Yoshiki Yasui.

Origami is betting that stores, which until now relied on direct mail and email newsletters, will pay for the ability to reach customers on their smartphones. For example, a hair salon using Origami’s payment app would be able to send a message to past customers with a coupon for their next haircut.

Quick Response codes, the dotted squares that can be read by smartphone cameras, were invented in the 1990s by a unit of Toyota Motor to track automotive parts. But when the Japanese pioneered digital payments almost two decades ago with contactless cards for train fares, they chose the so-called near-field communications technology. The high cost of rolling out NFC payments, convenient ATMs and a culture where lost wallets are often returned have all been cited as reasons why cash remains king in the archipelago. In China, however, QR codes dominate.

Cashless payments, which includes credit cards, accounted for just 20 per cent of total consumer spending in Japan during 2016, compared with 60 per cent in China and 89 per cent in South Korea, according to a report by the Bank of Japan.

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Winner: Shanaghai City, Fabrice Veron, Rashed Bouresly.

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The National Archives, Abu Dhabi

Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.

Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en

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

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2pm Handicap (TB) 68,000 (D) 1,950m

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Winner Mazagran, Tadhg O’Shea, Satish Seemar

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Winner Tailor’s Row, Royston Ffrench, Salem bin Ghadayer

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Winner Alla Mahlak, Adrie de Vries, Rashed Bouresly

4pm Maiden (TB) Dh60,000 (D) 1,200m

Winner Hurry Up, Royston Ffrench, Salem bin Ghadayer

4.30pm Handicap (TB) Dh68,000 (D) 1,200m

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Updated: June 03, 2023, 8:08 AM