A senior Saudi Arabian minister on Tuesday condemned remarks by Iran's foreign minister implying that Riyadh played a role in the assassination of leading nuclear scientist Mohsen Fakhrizadeh.
Fakhrizadeh was killed on Friday when his car and bodyguards were hit in a bomb and gun attack on a major road outside the capital Tehran, heightening tensions between Iran and its foes.
Iran's Foreign Minister Mohammad Zarif on Monday claimed on Instagram that Crown Prince Mohammed bin Salman and Israeli Prime Minister Benjamin Netanyahu had conspired to plot the assassination. Mr Zarif said that a conspiracy had occurred.
"Iranian Foreign Minister Zarif is desperate to blame the kingdom for anything negative that happens in Iran," Adel Al Jubeir, the Saudi minister of state for foreign affairs, tweeted. "Will he blame us for the next earthquake or flood?"
"It is not the policy of Saudi Arabia to engage in assassinations," he said.
Saudi Arabia has no official diplomatic ties with Israel but Israeli media claimed a meeting had taken place in Saudi Arabia between the crown prince and the Israeli prime minister, with US Secretary of State Mike Pompeo in late November. The kingdom denied that any such meeting had taken place.
The New York Times reported this week that an American official and two other intelligence officials said Israel was behind the attack on Fakhrizadeh.
Iran's President Hassan Rouhani accused Israel of trying to create chaos by assassinating the scientist but said his country will not fall into a trap.
They also pointed the finger at a radical opposition group called the People's Mojahedin Organisation of Iran. Iran has arrested dozens in the wake of the killing as it tries to find accomplices in the plot.
While UN head Antonio Guterres condemned the extrajudicial killing, the UN Security Council has made no statement.
At a minimum, the 15-member body could discuss Friday's killing behind closed doors if a member requests such a meeting or it could agree on – by consensus – a statement on the issue.
But diplomats say the call by Iran for the council to make a comment is likely to go unheeded.
South Africa's UN ambassador, Jerry Matjila, council president for December, said on Tuesday that no member had so far requested to discuss the killing or Iran in general. Diplomats also said there had been no discussion of a statement.
The Security Council is responsible for maintaining international peace and security and has the ability to authorise military action and impose sanctions. But such measures require at least nine votes in favour and no vetoes by the US, France, Britain, Russia or China.
The UN investigator on extrajudicial executions, Agnes Callamard, said on Friday that many questions surrounded the killing of Fakhrizadeh, but noted the definition of an extraterritorial targeted killing outside an armed conflict.
Ms Callamard posted on Twitter that such a killing was "a violation of international human rights law prohibiting the arbitrary deprivation of life and a violation of the UN Charter prohibiting the use of force extraterritorially in times of peace".
Iran also addressed its letter on Friday to Mr Guterres. In response, he urged restraint and condemned "any assassination or extrajudicial killing", UN spokesman Stephane Dujarric said on Saturday.
The Security Council is due to meet on December 22 for its bi-annual meeting on compliance with a resolution that enshrines a 2015 nuclear accord between world powers and Iran, which US President Donald Trump's administration quit in 2018.
Any council member or Iran could choose to raise the killing of Fakhrizadeh during that meeting.
Inside%20Out%202
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David Haye record
Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4
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.”
PROFILE OF CURE.FIT
Started: July 2016
Founders: Mukesh Bansal and Ankit Nagori
Based: Bangalore, India
Sector: Health & wellness
Size: 500 employees
Investment: $250 million
Investors: Accel, Oaktree Capital (US); Chiratae Ventures, Epiq Capital, Innoven Capital, Kalaari Capital, Kotak Mahindra Bank, Piramal Group’s Anand Piramal, Pratithi Investment Trust, Ratan Tata (India); and Unilever Ventures (Unilever’s global venture capital arm)
Managing the separation process
- Choose your nursery carefully in the first place
- Relax – and hopefully your child will follow suit
- Inform the staff in advance of your child’s likes and dislikes.
- If you need some extra time to talk to the teachers, make an appointment a few days in advance, rather than attempting to chat on your child’s first day
- The longer you stay, the more upset your child will become. As difficult as it is, walk away. Say a proper goodbye and reassure your child that you will be back
- Be patient. Your child might love it one day and hate it the next
- Stick at it. Don’t give up after the first day or week. It takes time for children to settle into a new routine.And, finally, don’t feel guilty.
TECH%20SPECS%3A%20APPLE%20WATCH%20SERIES%209
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SPECS
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Previous men's records
- 2:01:39: Eliud Kipchoge (KEN) on 16/9/19 in Berlin
- 2:02:57: Dennis Kimetto (KEN) on 28/09/2014 in Berlin
- 2:03:23: Wilson Kipsang (KEN) on 29/09/2013 in Berlin
- 2:03:38: Patrick Makau (KEN) on 25/09/2011 in Berlin
- 2:03:59: Haile Gebreselassie (ETH) on 28/09/2008 in Berlin
- 2:04:26: Haile Gebreselassie (ETH) on 30/09/2007 in Berlin
- 2:04:55: Paul Tergat (KEN) on 28/09/2003 in Berlin
- 2:05:38: Khalid Khannouchi (USA) 14/04/2002 in London
- 2:05:42: Khalid Khannouchi (USA) 24/10/1999 in Chicago
- 2:06:05: Ronaldo da Costa (BRA) 20/09/1998 in Berlin
First Person
Richard Flanagan
Chatto & Windus
How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
Results
1.30pm Handicap (PA) Dh50,000 (Dirt) 1,400m
Winner Al Suhooj, Saif Al Balushi (jockey), Khalifa Al Neyadi (trainer)
2pm Handicap (TB) 68,000 (D) 1,950m
Winner Miracle Maker, Xavier Ziani, Salem bin Ghadayer
2.30pm Maiden (TB) Dh60,000 (D) 1,600m
Winner Mazagran, Tadhg O’Shea, Satish Seemar
3pm Handicap (TB) Dh84,000 (D) 1,800m
Winner Tailor’s Row, Royston Ffrench, Salem bin Ghadayer
3.30pm Handicap (TB) Dh76,000 (D) 1,400m
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
Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5