Myanmar's military ruler Gen Min Aung Hlaing. The junta has defended the death sentence, saying it was justified and used in many countries. Reuters
Myanmar's military ruler Gen Min Aung Hlaing. The junta has defended the death sentence, saying it was justified and used in many countries. Reuters
Myanmar's military ruler Gen Min Aung Hlaing. The junta has defended the death sentence, saying it was justified and used in many countries. Reuters
Myanmar's military ruler Gen Min Aung Hlaing. The junta has defended the death sentence, saying it was justified and used in many countries. Reuters

Myanmar junta executes four pro-democracy activists


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Myanmar's military authorities have executed four democracy activists accused of taking part in “terror acts”, state media said on Monday.

The four men were accused of helping militias to fight the army, which seized power in a coup last year and violently suppressed protests against the takeover.

They were sentenced to death in closed-door trials in January and April.

Among those executed were pro-democracy figure Kyaw Min Yu, better known as Jimmy, and former politician and hip-hop artist Phyo Zeya Thaw, the Global New Light of Myanmar newspaper said.

Democracy activist Kyaw Min Yu, left, and former politician Phyo Zeya Thaw were among four democracy activists executed by Myanmar's junta. AFP
Democracy activist Kyaw Min Yu, left, and former politician Phyo Zeya Thaw were among four democracy activists executed by Myanmar's junta. AFP

Min Yu, 53, and Zeya Thaw, a 41, an ally of ousted Myanmar leader Aung San Suu Kyi, lost their appeals against the sentences in June. The two others executed were Hla Myo Aung and Aung Thura Zaw.

Myanmar's National Unity Government (NUG), a shadow administration outlawed by the junta, condemned the reported executions.

“Extremely saddened … condemn the junta's cruelty with strongest terms, if it's the case,” Kyaw Zaw, the spokesman of the NUG president’s office, said.

“The global community must punish their cruelty.”

Tom Andrews, the UN special rapporteur on human rights in Myanmar, said he was “outraged and devastated” at the news of the executions, describing the four men as “patriots and champions of human rights and democracy”.

These depraved acts must be a turning point for the international community
Tom Andrews,
UN special rapporteur on human rights in Myanmar

“My heart goes out to their families, friends and loved ones and indeed all the people in Myanmar who are victims of the junta's escalating atrocities,” Mr Andrews said.

“These depraved acts must be a turning point for the international community.”

Thazin Nyunt Aung, the wife of Zeya Thaw, said she had not been told of her husband's execution. Other relatives could not immediately be reached for comment.

The men had been held in the colonial-era Insein prison and a source said their families visited the prison last Friday. Only one relative was allowed to speak to the detainees online via Zoom.

The Global New Light of Myanmar said the men had been charged under the counter-terrorism law and the punishment was carried out according to prison procedure, without elaborating.

Kyaw Min Yu talks to journalists at Yangon airport after being released from a prison on January 13, 2012. AP Photo
Kyaw Min Yu talks to journalists at Yangon airport after being released from a prison on January 13, 2012. AP Photo

Previous executions in Myanmar have been by hanging.

An activist group, the Assistance Association of Political Prisoners, said Myanmar's last judicial executions were in the late 1980s.

The military did not immediately respond to calls seeking comment.

Last month military spokesman Zaw Min Tun defended the death sentence, saying it was justified and used in many countries.

“At least 50 innocent civilians, excluding security forces, died because of them,” he told a televised news conference.

“How can you say this is not justice?” he said. “Required actions are needed to be done in the required moments.”

The sentences had drawn international condemnation, with two UN experts calling them a “vile attempt at instilling fear” among the people.

Cambodian Prime Minister Hun Sen, chairman of the Association of South-East Asian Nations, appealed in a letter in June to junta leader Gen Min Aung Hlaing not to carry out the executions, relaying deep concern among Myanmar's neighbours.

China's foreign ministry said on Monday that all parties in Myanmar should work to properly resolve conflicts within its constitutional framework.

China always upholds the principle of non-interference, said Zhao Lijian, spokesman at the Chinese Foreign Ministry.

Chinese Foreign Minister Wang Yi told his Myanmar counterpart earlier this month that China expects all parties in Myanmar to prioritise the big picture and the interests of the people, adhere to rational consultation and realise political reconciliation and lasting peace and stability at an early date within the framework of the constitution and laws.

The junta has condemned foreign statements about the execution orders as “reckless and interfering”.

Myanmar has been in chaos since last year's coup, with conflict spreading nationwide after the army crushed mostly peaceful protests in cities.

“These horrendous executions were murders. They're a part of the junta's ongoing crimes against humanity and attack on the civilian population,” Matthew Smith, head of South-east Asia's Fortify Rights, told Reuters.

“The junta would be completely wrong to think this would instil fear in the hearts of the revolution.”

The AAPP says more than 2,100 people have been killed by the security forces since the coup, but the junta says the figure is exaggerated.

  • Junta chief Min Aung Hlaing presides over a parade during the 77th Armed Forces Day in Naypyidaw, Myanmar. EPA
    Junta chief Min Aung Hlaing presides over a parade during the 77th Armed Forces Day in Naypyidaw, Myanmar. EPA
  • Myanmar military officers on parade. AP
    Myanmar military officers on parade. AP
  • The army will 'annihilate' coup opponents, the junta chief said on Sunday as the military staged a show of force on the anniversary of its bloodiest crackdown so far on democracy protests. AP
    The army will 'annihilate' coup opponents, the junta chief said on Sunday as the military staged a show of force on the anniversary of its bloodiest crackdown so far on democracy protests. AP
  • The South-east Asian country has been in chaos since a coup in February last year, with more than 1,700 people killed in crackdowns on dissent, according to a local monitoring group. AFP
    The South-east Asian country has been in chaos since a coup in February last year, with more than 1,700 people killed in crackdowns on dissent, according to a local monitoring group. AFP
  • Military hardware is displayed during the parade. AP
    Military hardware is displayed during the parade. AP
  • 'People's Defence Force' fighters clash regularly with troops, with some analysts suggesting the military has struggled to respond effectively to their hit-and-run tactics. EPA
    'People's Defence Force' fighters clash regularly with troops, with some analysts suggesting the military has struggled to respond effectively to their hit-and-run tactics. EPA
  • Jets flew overhead at the parade trailing the yellow, red and green of the national flag. EPA
    Jets flew overhead at the parade trailing the yellow, red and green of the national flag. EPA
  • Armed Forces Day commemorates the start of local resistance to the Japanese occupation during the Second World War. EPA
    Armed Forces Day commemorates the start of local resistance to the Japanese occupation during the Second World War. EPA
  • Myanmar soldiers stand on military vehicles during the parade. EPA
    Myanmar soldiers stand on military vehicles during the parade. EPA
  • Last year, as Min Aung Hlaing inspected the parade, the military carried out a crackdown on democracy rallies that left about 160 protesters dead, according to a local monitoring group. EPA
    Last year, as Min Aung Hlaing inspected the parade, the military carried out a crackdown on democracy rallies that left about 160 protesters dead, according to a local monitoring group. EPA
  • Myanmar female soldiers march at the parade. EPA
    Myanmar female soldiers march at the parade. EPA
  • The junta has become increasingly isolated, with Cambodia's leader Hun Sen the only foreign leader to visit since the coup. EPA
    The junta has become increasingly isolated, with Cambodia's leader Hun Sen the only foreign leader to visit since the coup. EPA
  • On Sunday Min Aung Hlaing accused unnamed 'foreign aggressors' of working against the military and called for the armed forces to remain united against 'internal and external mischiefs'. AP
    On Sunday Min Aung Hlaing accused unnamed 'foreign aggressors' of working against the military and called for the armed forces to remain united against 'internal and external mischiefs'. AP
  • Myanmar military officers leave the venue. AP
    Myanmar military officers leave the venue. AP
  • Myanmar soldiers stand on military vehicles during a parade commemorating the 77th Armed Forces Day in Naypyidaw Myanmar. EPA
    Myanmar soldiers stand on military vehicles during a parade commemorating the 77th Armed Forces Day in Naypyidaw Myanmar. EPA
  • Myanmar's military officers stand on top of trucks loaded with missiles. AP
    Myanmar's military officers stand on top of trucks loaded with missiles. AP
  • Myanmar fighter jets perform in the sky. AP
    Myanmar fighter jets perform in the sky. AP
  • Russia's vice defence minister had been due to attend this year's parade but was unable to because of his “country's affairs”, junta spokesman Zaw Min Tun said. AP
    Russia's vice defence minister had been due to attend this year's parade but was unable to because of his “country's affairs”, junta spokesman Zaw Min Tun said. AP
  • In February a UN expert on Myanmar said Russia, along with other major ally China, was continuing to supply the military with weapons, including fighter jets and armoured vehicles. AFP
    In February a UN expert on Myanmar said Russia, along with other major ally China, was continuing to supply the military with weapons, including fighter jets and armoured vehicles. AFP
  • Myanmar Air Force helicopers take part in a display. AFP
    Myanmar Air Force helicopers take part in a display. AFP

The true picture of violence has been hard to assess as clashes have spread to more remote areas where ethnic minority insurgent groups are also fighting the military.

On Friday, the World Court rejected Myanmar's objections to a genocide case over its treatment of the Muslim Rohingya minority, paving the way for the case to be heard in full.

The latest executions close off any chance of ending the unrest in the country, said Myanmar analyst Richard Horsey, of the International Crisis group.

“Any possibility of dialogue to end the crisis created by the coup has now been removed,” Mr Horsey told Reuters.

“This is the regime demonstrating that it will do what it wants and listen to no one. It sees this as a demonstration of strength, but it may be a serious miscalculation.”

SUZUME
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How much do leading UAE’s UK curriculum schools charge for Year 6?
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  3. Brighton College Abu Dhabi - Dh68,560
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  6. The British School Al Khubairat (Abu Dhabi) - Dh54,170
  7. Dubai English Speaking School – Dh51,269

*Annual tuition fees covering the 2024/2025 academic year

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.”

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COMPANY%20PROFILE
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The most expensive investment mistake you will ever make

When is the best time to start saving in a pension? The answer is simple – at the earliest possible moment. The first pound, euro, dollar or dirham you invest is the most valuable, as it has so much longer to grow in value. If you start in your twenties, it could be invested for 40 years or more, which means you have decades for compound interest to work its magic.

“You get growth upon growth upon growth, followed by more growth. The earlier you start the process, the more it will all roll up,” says Chris Davies, chartered financial planner at The Fry Group in Dubai.

This table shows how much you would have in your pension at age 65, depending on when you start and how much you pay in (it assumes your investments grow 7 per cent a year after charges and you have no other savings).

Age

$250 a month

$500 a month

$1,000 a month

25

$640,829

$1,281,657

$2,563,315

35

$303,219

$606,439

$1,212,877

45

$131,596

$263,191

$526,382

55

$44,351

$88,702

$177,403

 

The biog

Name: Greg Heinricks

From: Alberta, western Canada

Record fish: 56kg sailfish

Member of: International Game Fish Association

Company: Arabian Divers and Sportfishing Charters

Email sent to Uber team from chief executive Dara Khosrowshahi

From: Dara

To: Team@

Date: March 25, 2019 at 11:45pm PT

Subj: Accelerating in the Middle East

Five years ago, Uber launched in the Middle East. It was the start of an incredible journey, with millions of riders and drivers finding new ways to move and work in a dynamic region that’s become so important to Uber. Now Pakistan is one of our fastest-growing markets in the world, women are driving with Uber across Saudi Arabia, and we chose Cairo to launch our first Uber Bus product late last year.

Today we are taking the next step in this journey—well, it’s more like a leap, and a big one: in a few minutes, we’ll announce that we’ve agreed to acquire Careem. Importantly, we intend to operate Careem independently, under the leadership of co-founder and current CEO Mudassir Sheikha. I’ve gotten to know both co-founders, Mudassir and Magnus Olsson, and what they have built is truly extraordinary. They are first-class entrepreneurs who share our platform vision and, like us, have launched a wide range of products—from digital payments to food delivery—to serve consumers.

I expect many of you will ask how we arrived at this structure, meaning allowing Careem to maintain an independent brand and operate separately. After careful consideration, we decided that this framework has the advantage of letting us build new products and try new ideas across not one, but two, strong brands, with strong operators within each. Over time, by integrating parts of our networks, we can operate more efficiently, achieve even lower wait times, expand new products like high-capacity vehicles and payments, and quicken the already remarkable pace of innovation in the region.

This acquisition is subject to regulatory approval in various countries, which we don’t expect before Q1 2020. Until then, nothing changes. And since both companies will continue to largely operate separately after the acquisition, very little will change in either teams’ day-to-day operations post-close. Today’s news is a testament to the incredible business our team has worked so hard to build.

It’s a great day for the Middle East, for the region’s thriving tech sector, for Careem, and for Uber.

Uber on,

Dara

Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

The specs

Engine: 6.2-litre supercharged V8

Power: 712hp at 6,100rpm

Torque: 881Nm at 4,800rpm

Transmission: 8-speed auto

Fuel consumption: 19.6 l/100km

Price: Dh380,000

On sale: now 

Updated: July 25, 2022, 10:51 AM