People lay flowers at a memorial to Armenians killed by the Ottoman Turks, as they mark the centenary of the mass killings, in Yerevan on April 24. Sergei Grits/AP Photo
People lay flowers at a memorial to Armenians killed by the Ottoman Turks, as they mark the centenary of the mass killings, in Yerevan on April 24. Sergei Grits/AP Photo

Armenia marks emotional centenary of Ottoman massacres



YEREVAN // The leaders of France and Russia on Friday joined ceremonies marking the centenary of the massacre of some 1.5 million Armenians by Ottoman forces, a hugely emotional event that still remains a diplomatic minefield.

During a commemoration at a hilltop memorial in the Armenian capital Yerevan, French president Francois Hollande urged modern day Turkey to end its refusal to recognise the massacre as genocide, saying he bowed in memory of the victims.

“Important words have already been said in Turkey, but others are still expected, so that shared grief can become shared destiny,” Mr Hollande told an audience that also included the leaders of Cyprus and Serbia and delegates from some 60 countries.

Russia president Vladimir Putin for his part said Russia was standing shoulder to shoulder with ex-Soviet Armenia, still a close ally for Moscow in the region.

“There is no and cannot be justification for mass murder of people,” Mr Putin said to a standing ovation.

The Russian president appeared to use the ceremony to refer to Ukraine conflict which has pitted Russia against the West, pointing to the rise of “radical nationalists” and Russophobia.

Earlier in the day the leaders, walking in the rain, laid flowers at a memorial commemorating the victims.

Each put a yellow rose at the centre of a wreath resembling a forget-me-not, a flower that has become a symbol of the genocide remembrance.

“I am grateful to all those who are here to once again confirm your commitment to human values, to say that nothing is forgotten, that after 100 years we remember,” Armenian president Serzh Sarkisian told his guests.

But the patchy list of foreign dignitaries attending the commemorations highlighted a lack of international consensus over Armenia’s bid to get the massacres recognised internationally as a genocide.

More than 20 nations — including France and Russia but not the United States — have so far recognised the genocide, a definition supported by numerous historians, but vehemently opposed by Turkey.

On Thursday, the Armenian Church conferred sainthood on the genocide victims in what was believed to be the biggest canonisation service in history.

Turkey, which was born out of the ashes of the Ottoman Empire, has refused to call the slaughter of Christian Armenians genocide. Ankara concedes that up to 500,000 people were killed, but says this was mostly due to fighting and starvation during World War I, especially the struggle between Russia’s empire and the Ottomans.

On Friday, Turkey hosted leaders from the former Allied powers of World War I to pay tribute to the tens of thousands killed in the Battle of Gallipoli, drawing accusations from Armenians that it was deliberately overshadowing the Yerevan ceremonies.

But in a first for a Turkish government minister, European affairs minister Volkan Bozkir attended a Mass at an Armenian church in Istanbul to mark the 1915 massacres, as president Recep Tayyip Erdogan repeated his “condolences” to the victims’ descendants.

In Yerevan, hundreds of thousands joined a procession to the genocide memorial — the country’s most visited landmark — carrying candles and flowers to lay at the eternal flame.

“I hope that the centenary will be a watershed moment in the Armenians’ struggle for the recognition of the genocide,” said Ani Sahakyan, 37, a Yerevan resident.

“I am here to show that Armenians will never forget what happened a century ago,” said Sevan Gedelekian, an ethnic Armenian from Lebanon.

“We demand that Turkey recognise its guilt and make an apology.”

From New York to Paris to Beirut, members of the massive Armenian diaspora that came into existence as a result of the slaughter that went on until 1917 were also to commemorate the anniversary.

About 500 people gathered for a Mass in the Armenian Cathedral of Saint James in Jerusalem, while another 200 people held a rally near the Turkish consulate in East Jerusalem, chanting “Shame on Turkey.”

In Tehran, over 1,000 people protested outside the Turkish embassy, holding placards that read “Recognise Armenian genocide” and “Turkey don’t deny.”

In Bulgaria on Friday, parliament recognised for the first time the mass killings of Armenians but avoided the word genocide.

Germany expected to draw an angry reaction from Turkey after president Joachim Gauck condemned Thursday the massacres as genocide for the first time.

Mr Gauck said that the then German empire — Ottoman Turkey’s ally in World War I — bore “shared responsibility, possibly shared guilt for the genocide.”

Ahead of the anniversary, Turkey kicked up a diplomatic storm, condemning growing “racism” in Europe.

Ankara this week recalled its ambassador to Vienna in response to Austrian lawmakers’ decision to use the genocide word.

US president Barack Obama on Thursday went only so far as to describe the massacres as “terrible carnage”.

This month Ankara recalled its envoy to the Vatican after Pope Francis described the killings as “the first genocide of the 20th century.”

* Agence France-Presse

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A 2019 United Nations special analysis on Aids reveals 37 per cent of new HIV infections in the Mena region are from people injecting drugs.

New HIV infections have also risen by 29 per cent in western Europe and Asia, and by 7 per cent in Latin America, but declined elsewhere.

Egypt has shown the highest increase in recorded cases of HIV since 2010, up by 196 per cent.

Access to HIV testing, treatment and care in the region is well below the global average.  

Few statistics have been published on the number of cases in the UAE, although a UNAIDS report said 1.5 per cent of the prison population has the virus.

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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.

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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.”

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At a glance

Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.

 

Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year

 

Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month

 

Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30 

 

Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse

 

Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth

 

Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances

UPI facts

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Education: Master’s degree in special education, preparing for a PhD in philosophy.

Favourite activities: Bungee jumping

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