Japan’s former prime minister, Shinzo Abe, who was shot and killed on Friday at the age of 67, was the longest-serving premier of Japan, known for his conservative agenda of restoring his country’s economy, military and national pride.
Abe, the grandson of another former prime minister, was elected to parliament in 1993 after the death of his father, a former foreign minister.
Born in Tokyo on September 21, 1954, Abe belonged to a prominent political family with significant economic influence throughout Japan in the period before and after the Second World War.
He attended Seikei Elementary School and Seikei Junior and Senior High School before studying public administration and graduating with a bachelor's degree in political science from Seikei University in 1977.
Abe was 52 years old when he first became prime minister in 2006, becoming the youngest person to take on the top role in the post-war era. His first term was turbulent, plagued by scandals and discord and capped by an abrupt resignation more than a year later.
After initially suggesting he was stepping down for political reasons, he acknowledged he was suffering an ailment later diagnosed as ulcerative colitis.
The debilitating bowel condition required months of treatment but was, according to Abe, eventually overcome with the help of new medication.
He would run again, and Japan's revolving prime ministerial door brought him back to office in 2012.
It ended a turbulent period in which prime ministers changed frequently, sometimes at the rate of one a year.
With Japan still staggering from the effects of the 2011 tsunami and subsequent nuclear disaster at Fukushima ― and a brief opposition government criticised for flip-flopping and incompetence ― Abe offered a seemingly safe pair of hands.
And he had a plan: Abenomics.
‘Abenomics’
The scheme to revive Japan's economy ― the world's third-biggest, but more than two decades into stagnation ― involved vast government spending, huge monetary easing and cutting red tape.
Abe also sought to boost the country's flagging birth rate by making workplaces more friendly to parents, particularly mothers.
He pushed through controversial consumption tax increases to help finance nurseries and plug gaps in Japan's overstretched social security system.
Abe's star waned further during the Covid pandemic, with his approach criticised as confused and slow, driving his approval ratings down to some of the lowest of his tenure.
Close relationship with Trump
On the international stage, Abe took a hard line on North Korea, but sought a peacemaker role between the United States and Iran.
He prioritised a close personal relationship with Donald Trump in an attempt to protect Japan's key alliance from the US president's "America First" mantra, and tried to mend ties with Russia and China.
But the results were mixed: Mr Trump was eager to force Japan to pay more for US troops stationed in the country, a deal with Russia on disputed northern islands stayed elusive and a plan to invite Xi Jinping for a state visit fell by the wayside.
Abe also pursued a hard line with South Korea over unresolved wartime disputes and continued to float plans to revise Japan's pacifist constitution.
Throughout his tenure, he weathered political storms including cronyism allegations that dented approval ratings but did little to affect his power, in part thanks to the weakness of the opposition.
Abe had been due to stay on until late 2021, giving him an opportunity to see out one final event in his historic tenure — the postponed Tokyo 2020 Olympic Games.
But in a shock announcement, he stepped down in August 2020, with a recurrence of ulcerative colitis ending his second term too.
Pivotal partner in the Middle East
Abe’s last visit to the Middle East was in 2020, shortly before his resignation, when he met the leaders of Saudi Arabia, the UAE and Oman in an attempt to “help stabilise the region”, a week after the US killed top Iranian general Qassem Suleimani in Baghdad.
During Abe's visit to the UAE, he met Sheikh Mohamed bin Zayed who at the time was Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces.
"This is the fourth time I have visited the UAE and met with Sheikh Mohamed bin Zayed. The UAE plays a key and pivotal role in pursuing sustainable development, peace and stability in the Middle East," Abe said at the time.
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FIGHT CARD
Fights start from 6pm Friday, January 31
Catchweight 82kg
Piotr Kuberski (POL) v Ahmed Saeb (IRQ)
Women’s bantamweight
Cornelia Holm (SWE) v Corinne Laframboise (CAN)
Welterweight
Omar Hussein (JOR) v Vitalii Stoian (UKR)
Welterweight
Josh Togo (LEB) v Ali Dyusenov (UZB)
Flyweight
Isaac Pimentel (BRA) v Delfin Nawen (PHI)
Catchweight 80kg
Seb Eubank (GBR) v Mohamed El Mokadem (EGY)
Lightweight
Mohammad Yahya (UAE) v Ramadan Noaman (EGY)
Lightweight
Alan Omer (GER) v Reydon Romero (PHI)
Welterweight
Ahmed Labban (LEB) v Juho Valamaa (FIN)
Featherweight
Elias Boudegzdame (ALG) v Austin Arnett (USA)
Super heavyweight
Roman Wehbe (LEB) v Maciej Sosnowski (POL)
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.
RACE RESULTS
1. Valtteri Bottas (FIN/Mercedes) 1hr 21min 48.527sec
2. Sebastian Vettel (GER/Ferrari) at 0.658sec
3. Daniel Ricciardo (AUS/Red Bull) 6.012
4. Lewis Hamilton (GBR/Mercedes) 7.430
5. Kimi Räikkönen (FIN/Ferrari) 20.370
6. Romain Grosjean (FRA/Haas) 1:13.160
7. Sergio Pérez (MEX/Force India) 1 lap
8. Esteban Ocon (FRA/Force India) 1 lap
9. Felipe Massa (BRA/Williams) 1 lap
10. Lance Stroll (CAN/Williams) 1 lap
11. Jolyon Palmer (GBR/Renault) 1 lap
12. Stoffel Vandoorne (BEL/McLaren) 1 lap
13. Nico Hülkenberg (GER/Renault) 1 lap
14. Pascal Wehrlein (GER/Sauber) 1 lap
15. Marcus Ericsson (SWE/Sauber) 2 laps
16. Daniil Kvyat (RUS/Toro Rosso) 3 laps
COMPANY%20PROFILE
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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.”
Villains
Queens of the Stone Age
Matador
Drivers’ championship standings after Singapore:
1. Lewis Hamilton, Mercedes - 263
2. Sebastian Vettel, Ferrari - 235
3. Valtteri Bottas, Mercedes - 212
4. Daniel Ricciardo, Red Bull - 162
5. Kimi Raikkonen, Ferrari - 138
6. Sergio Perez, Force India - 68