TRIPOLI // The lessons of history are usually ignored, but Libya's new leaders appear to be heeding at least one.
Instead of barring Libyans who worked for the regime of Colonel Muammar Qaddafi from working in government again, as US officials did with top members of Saddam Hussein's Baath party after the American invasion in 2003, they are urging employees of the regime to return to work as quickly as possible.
"We will work with former regime bureaucrats and technocrats if they were loyal to Libya and not to Qaddafi," said Hisham Krekshi, the deputy head of the Tripoli city council. "If their hands are bloodied, they will be brought to justice."
In a bid to appease their own ranks, National Transitional Council officials announced plans yesterday to train 3,000 demobilised rebel fighters as police and national security officers and to set up training schemes and scholarships for others. However, always anxious to encourage national reconciliation, they said the plans would also be open to those who fought to defend Col Qaddafi.
Many state employees were confused and apprehensive resuming their posts.
On a recent afternoon in Tripoli, a man approached the front gates of the once feared but now abandoned internal security headquarters looking to return to work.
He said he was an employee of the justice ministry, which he had heard would be relocated there. He was quick to point out he had not worked for the internal security forces.
He was eager to get back to work, but unsure of his future.
The NTC wants a public sector that is eager to return to work. That will help them avoid the chaos of Iraq, where everyone linked to the old regime was fired. The sweeping dismissals also created a huge group of trained people who evolved into embittered enemies of the new government.
In Libya, it appears the NTC will be able to count on some continuity. But, under Col Qaddafi most institutions were weak. For the most part, the new leadership will have to build efficient governments with employees who are not accustomed to some power and accountability. However, the most important job for the NTC at the moment is to make Libya safe.
Mohammed Ben Ras Ali, a member of the Emergency Stabilisation Team appointed by the NTC, said the group drafted a plan months ago and anticipated these problems.
"On August 19 we started implementing our plan in the entire country," he said. "In Tripoli, on day one, we secured all the important locations, military sites, energy installations, government buildings, security apparatus."
He said the team was created in Doha in June and has 13 members. As for former regime officials, Mr Ben Ras Ali said the NTC will not work with people "who killed or stole money, but we push for reconciliation and we are welcoming everybody else".
The NTC's rank and file were equally eager for security and a quick and effective transition.
"We are trying to secure every single street, strategic places, schools, governments and institution buildings," said Abu Baker Al Muaqaf, 32, a NTC fighter.
"We want to avoid looting and burning of public buildings, because we want to use them straight away to govern the country."
Last week, Mr Krekshi and his colleagues took advantage of that security. The new city council, which was formed in secret during the past six months and its members work as volunteers, took over the offices of the Tripoli municipality.
But when they showed up, they found just three people there: the head of the police, Ali Hamrouni, and two mid-ranking officials. The rest of the employees stayed home, too frightened to come to work.
The councilmen eventually persuaded Mr Hamrouni and the other men to call their colleagues and urge them to get back on the job. In recent days, the council has used radio and text messages to spur policemen and public officers to return to work.
The councilmen "asked me to stay", Mr Hamrouni said.
"They didn't take the risk of putting another man in this position because they know I have years of experience."
After assuring that most of the country is safe, the NTC leadership must start building a government that will respond to its citizens.
Mr Krekshi, his colleagues and members of the NTC leadership, expected this challenge.
Like Tripoli's new leaders, people who supported the NTC in many of Libya's cities and towns worked secretly to assemble city councils and neighbourhood groups that were ready govern once Qaddafi fell.
Whether they will be able to fill the nation's power vacuum remains to be seen.
Unlike Baghdad in 2003, when it took many months before the first police officers returned to the streets, Tripoli already has some police on the beat.
The military central command in Tripoli has started issuing permits for carrying weapons to all NTC fighters, and neighbourhood councils are collecting arms from residents or registering them.
foreign.desk@thenational.ae
* With additional reporting by Reuters
Winners
Ballon d’Or (Men’s)
Ousmane Dembélé (Paris Saint-Germain / France)
Ballon d’Or Féminin (Women’s)
Aitana Bonmatí (Barcelona / Spain)
Kopa Trophy (Best player under 21 – Men’s)
Lamine Yamal (Barcelona / Spain)
Best Young Women’s Player
Vicky López (Barcelona / Spain)
Yashin Trophy (Best Goalkeeper – Men’s)
Gianluigi Donnarumma (Paris Saint-Germain and Manchester City / Italy)
Best Women’s Goalkeeper
Hannah Hampton (England / Aston Villa and Chelsea)
Men’s Coach of the Year
Luis Enrique (Paris Saint-Germain)
Women’s Coach of the Year
Sarina Wiegman (England)
The specs: 2018 Nissan Altima
Price, base / as tested: Dh78,000 / Dh97,650
Engine: 2.5-litre in-line four-cylinder
Power: 182hp @ 6,000rpm
Torque: 244Nm @ 4,000rpm
Transmission: Continuously variable tranmission
Fuel consumption, combined: 7.6L / 100km
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Russia's Muslim Heartlands
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Results
UAE beat Nigeria by five wickets
Hong Kong beat Canada by 32 runs
Friday fixtures
10am, Tolerance Oval, Abu Dhabi – Ireland v Jersey
7.30pm, Zayed Cricket Stadium, Abu Dhabi – Canada v Oman
The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
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On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
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The specs
Engine: 2.0-litre 4-cyl turbo
Power: 201hp at 5,200rpm
Torque: 320Nm at 1,750-4,000rpm
Transmission: 6-speed auto
Fuel consumption: 8.7L/100km
Price: Dh133,900
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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.”
The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
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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
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20PlanRadar%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2013%3Cbr%3E%3Cstrong%3ECo-founders%3A%20%3C%2Fstrong%3EIbrahim%20Imam%2C%20Sander%20van%20de%20Rijdt%2C%20Constantin%20K%C3%B6ck%2C%20Clemens%20Hammerl%2C%20Domagoj%20Dolinsek%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EVienna%2C%20Austria%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EConstruction%20and%20real%20estate%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%20%3C%2Fstrong%3E400%2B%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3ESeries%20B%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Headline%2C%20Berliner%20Volksbank%20Ventures%2C%20aws%20Gr%C3%BCnderfonds%2C%20Cavalry%20Ventures%2C%20Proptech1%2C%20Russmedia%2C%20GR%20Capital%3C%2Fp%3E%0A
Company profile
Company: Eighty6
Date started: October 2021
Founders: Abdul Kader Saadi and Anwar Nusseibeh
Based: Dubai, UAE
Sector: Hospitality
Size: 25 employees
Funding stage: Pre-series A
Investment: $1 million
Investors: Seed funding, angel investors
Marathon results
Men:
1. Titus Ekiru(KEN) 2:06:13
2. Alphonce Simbu(TAN) 2:07:50
3. Reuben Kipyego(KEN) 2:08:25
4. Abel Kirui(KEN) 2:08:46
5. Felix Kemutai(KEN) 2:10:48
Women:
1. Judith Korir(KEN) 2:22:30
2. Eunice Chumba(BHR) 2:26:01
3. Immaculate Chemutai(UGA) 2:28:30
4. Abebech Bekele(ETH) 2:29:43
5. Aleksandra Morozova(RUS) 2:33:01