NEW DELHI // A man charged with deadly bomb attacks on Muslims has said they had the approval of the leader of a hardline Hindu organisation linked to India’s main opposition party.
Swami Aseemanand, a self-styled holy man, was quoted by the magazine Caravan as saying that Mohan Bhagwat, the chief of the Rashtriya Swayamsevak Sangh (RSS), knew and approved of his plans to bomb civilian Muslim targets.
Aseemanand also indicated that Narendra Modi, the prime ministerial candidate of the Hindu nationalist Bharatiya Janata Party (BJP), front-runners in the upcoming general elections, had supported his campaign of conversions to Hinduism in Gujarat state, where Mr Modi has headed the government since 2001.
Like most BJP members, Mr Modi came to the party from the RSS, where he worked for many years, and Aseemanand’s allegations could damage his bid for power. He is already a divisive figure, accused of having allowed – or even abetted – anti-Muslim riots in Gujarat in 2002 in which as many as 2,000 people, mostly Muslims, died.
Aseemanand is in prison facing charges of orchestrating three bomb attacks in 2007: at the Mecca Masjid in Hyderabad; at the Moinuddin Chishti Dargah in Ajmer; and on the Samjhauta Express, a train running from India and Pakistan. The attacks killed 87 people, mostly Muslims.
His trial in the Moinuddin Chishti Dargah case has begun, while the other two cases have not yet gone to trial.
The journalist Leena Reghunath interviewed Aseemanand four times over the past two years at a jail in Ambala, in the state of Haryana, for the Caravan article. She wrote that Aseemanand told her that, during a meeting in 2005, Mr Bhagwat said of the violence, “It’s very important that it be done. But you should not link it to the Sangh.”
After the article was published in the February issue of the magazine, Aseemanand at first denied that the interviews ever happened, then claimed that while some of the interviews occurred, he never implicated Mr Bhagwat.
In response, Caravan this week released excerpts of transcripts and recordings of the interviews, including the sections where Aseemanand mentions Mr Bhagwat.
“I think Aseemanand must be feeling pressure from the RSS, which is why he’s trying to backtrack in this fashion,” Vinod Jose, Caravan’s executive editor, told The National.
Prakash Javadekar, a BJP spokesman, cast doubt on the authenticity of the recordings, saying audio files could easily be doctored. He also alleged that the article was published at the behest of the ruling Congress party.
“The Congress, with its dirty-tricks department, is known for all these things during” elections, Mr Javadekar said. But Abhishek Manu Sanghvi, a Congress spokeman, rejected Mr Javadekar’s accusation.
“If even a tenth of what is written [in the article] is true, it is extremely serious,” Mr Singhvi told the news channel NDTV. “Not only does this give a bad name to the great religion of Hinduism … but it also breeds other fundamentalism and terrorism.”
An RSS source close to Mr Bhagwat, who asked to remain anonymous, told The National that he did not believe the interview was fabricated, but refused to comment on whether Mr Bhagwat had sanctioned terrorist attacks by Aseemanand.
Meanwhile, a mob of about 150 people gathered outside the Caravan offices in Delhi yesterday and burned copies of the magazine to protest against the article. They said they were members of the Hindu Sena, or the Hindu army.
The magazine’s offices in Mumbai had also been threatened, Jose said. Family members of Caravan’s publishers had been phoned by the Shiv Sena, a Mumbai-based Hindu right-wing party and threatened with violence, he said.
ssubramanian@thenational.ae
TRAP
Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue
Director: M Night Shyamalan
Rating: 3/5
A State of Passion
Directors: Carol Mansour and Muna Khalidi
Stars: Dr Ghassan Abu-Sittah
Rating: 4/5
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
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 Melbourne Mercer Global Pension Index
The Melbourne Mercer Global Pension Index
Mazen Abukhater, principal and actuary at global consultancy Mercer, Middle East, says the company’s Melbourne Mercer Global Pension Index - which benchmarks 34 pension schemes across the globe to assess their adequacy, sustainability and integrity - included Saudi Arabia for the first time this year to offer a glimpse into the region.
The index highlighted fundamental issues for all 34 countries, such as a rapid ageing population and a low growth / low interest environment putting pressure on expected returns. It also highlighted the increasing popularity around the world of defined contribution schemes.
“Average life expectancy has been increasing by about three years every 10 years. Someone born in 1947 is expected to live until 85 whereas someone born in 2007 is expected to live to 103,” Mr Abukhater told the Mena Pensions Conference.
“Are our systems equipped to handle these kind of life expectancies in the future? If so many people retire at 60, they are going to be in retirement for 43 years – so we need to adapt our retirement age to our changing life expectancy.”
Saudi Arabia came in the middle of Mercer’s ranking with a score of 58.9. The report said the country's index could be raised by improving the minimum level of support for the poorest aged individuals and increasing the labour force participation rate at older ages as life expectancies rise.
Mr Abukhater said the challenges of an ageing population, increased life expectancy and some individuals relying solely on their government for financial support in their retirement years will put the system under strain.
“To relieve that pressure, governments need to consider whether it is time to switch to a defined contribution scheme so that individuals can supplement their own future with the help of government support,” he said.
Company%20Profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Raha%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202022%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Kuwait%2FSaudi%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Tech%20Logistics%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20%2414%20million%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Soor%20Capital%2C%20eWTP%20Arabia%20Capital%2C%20Aujan%20Enterprises%2C%20Nox%20Management%2C%20Cedar%20Mundi%20Ventures%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%20166%3C%2Fp%3E%0A
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
Results
Stage 5:
1. Jonas Vingegaard (DEN) Team Jumbo-Visma 04:19:08
2. Tadej Pogacar (SLO) UAE Team Emirates 00:00:03
3. Adam Yates (GBR) Ineos Grenadiers
4. Sergio Higuita (COL) EF Education-Nippo 00:00:05
5. Joao Almeida (POR) Deceuninck-QuickStep 00:00:06
General Classification:
1. Tadej Pogacar (SLO) UAE Team Emirates 17:09:26
2. Adam Yates (GBR) Ineos Grenadiers 00:00:45
3. Joao Almeida (POR) Deceuninck-QuickStep 00:01:12
4. Chris Harper (AUS) Team Jumbo-Visma 00:01:54
5. Neilson Powless (USA) EF Education-Nippo 00:01:56
Europe’s rearming plan
- Suspend strict budget rules to allow member countries to step up defence spending
- Create new "instrument" providing €150 billion of loans to member countries for defence investment
- Use the existing EU budget to direct more funds towards defence-related investment
- Engage the bloc's European Investment Bank to drop limits on lending to defence firms
- Create a savings and investments union to help companies access capital
Padmaavat
Director: Sanjay Leela Bhansali
Starring: Ranveer Singh, Deepika Padukone, Shahid Kapoor, Jim Sarbh
3.5/5