A paramilitary soldier stands guard at a street on the one-year anniversary of the restive region Kashmir being stripped of its autonomy in Srinagar. AFP
A paramilitary soldier stands guard at a street on the one-year anniversary of the restive region Kashmir being stripped of its autonomy in Srinagar. AFP
A paramilitary soldier stands guard at a street on the one-year anniversary of the restive region Kashmir being stripped of its autonomy in Srinagar. AFP
A paramilitary soldier stands guard at a street on the one-year anniversary of the restive region Kashmir being stripped of its autonomy in Srinagar. AFP

A year after Kashmir lost its autonomy, virus lockdown hits


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Authorities on Wednesday enforced security restrictions in many parts of Indian-administered Kashmir, a year after New Delhi revoked the disputed region’s semi-autonomy.

Officials lifted a curfew in the city of Srinagar late on Tuesday, but said restrictions on public movement, transport and commercial activities would continue because of the coronavirus pandemic.

Government forces erected barricades across many roads, bridges and intersections. Shops and businesses remained shut and police and soldiers stopped residents at checkpoints, only letting an occasional vehicle or pedestrians pass.

On August 5, 2019, Prime Minister Narendra Modi’s government stripped Jammu and Kashmir’s statehood, scrapped its separate constitution and removed inherited protections on land and jobs.

  • Relatives and neighbours mourn the death of Mehrajudin Shah, who according to local media was shot by Indian paramilitary troopers. AFP
    Relatives and neighbours mourn the death of Mehrajudin Shah, who according to local media was shot by Indian paramilitary troopers. AFP
  • A Kashmiri girl takes part in mourning outside Mehrajudin Shah's home in Makhama village, west of Srinagar. AP
    A Kashmiri girl takes part in mourning outside Mehrajudin Shah's home in Makhama village, west of Srinagar. AP
  • Kashmiri villagers run for cover. AP
    Kashmiri villagers run for cover. AP
  • Demonstrators chanted freedom slogans. AP
    Demonstrators chanted freedom slogans. AP
  • Police said the man ignored signals to stop at two checkpoints in the western outskirts of Srinagar. AP
    Police said the man ignored signals to stop at two checkpoints in the western outskirts of Srinagar. AP
  • Kashmiri men carry a woman who fainted as she was mourning in Makhama village. AP
    Kashmiri men carry a woman who fainted as she was mourning in Makhama village. AP
  • The protest came a week after soldiers killed a top rebel commander in the southern Kashmir valley. AP
    The protest came a week after soldiers killed a top rebel commander in the southern Kashmir valley. AP

The region was also split into two federal territories – Ladakh and Jammu-Kashmir. Following the move, Indian authorities enforced an information blackout and a security clampdown in Kashmir. Thousands of Kashmiri youths and pro-independence leaders, as well as pro-India Kashmiri politicians, were arrested.

As some of the restrictions were eased, India enforced another lockdown to combat the spread of the coronavirus.

In Ladakh’s Muslim-majority Kargil district, religious and political groups demanded revocation of the order, calling August 5 a “black day.” Businesses and shops remained closed in most of the district.

Pakistan's Prime Minister Imran Khan demanded on Wednesday that the international community “force India to reverse its present course against the Kashmiri people”.

“Pakistan will always be with its brothers and sisters” in Indian-administered Kashmir, Mr Khan said in a statement.

On Tuesday, Mr Khan unveiled a new map of Pakistan that included Indian-held Kashmir and Junagadh in the Muslim-majority country’s boundaries for the first time in 70 years. India rejected the move as “an exercise in political absurdity.”

The status of Kashmir has been a key point of dispute between Pakistan and India since the two split after the end of British colonial rule. They each control part of Kashmir and have fought two wars over their rival claims.

Initially, the anti-India movement in the Indian-controlled portion of Kashmir was largely peaceful, but after a series of political blunders, broken promises and a crackdown on dissent, Kashmiris launched a full-blown armed revolt in 1989.

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Gulf Under 19s final

Dubai College A 50-12 Dubai College B

JUDAS AND THE BLACK MESSIAH

Directed by: Shaka King

Starring: Daniel Kaluuya, Lakeith Stanfield, Jesse Plemons

Four stars

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Conservative MPs who have publicly revealed sending letters of no confidence
  1. Steve Baker
  2. Peter Bone
  3. Ben Bradley
  4. Andrew Bridgen
  5. Maria Caulfield​​​​​​​
  6. Simon Clarke 
  7. Philip Davies
  8. Nadine Dorries​​​​​​​
  9. James Duddridge​​​​​​​
  10. Mark Francois 
  11. Chris Green
  12. Adam Holloway
  13. Andrea Jenkyns
  14. Anne-Marie Morris
  15. Sheryll Murray
  16. Jacob Rees-Mogg
  17. Laurence Robertson
  18. Lee Rowley
  19. Henry Smith
  20. Martin Vickers 
  21. John Whittingdale

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.”

What the law says

Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.

“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.

“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”

If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

england euro squad

Goalkeepers: Dean Henderson (Man Utd), Sam Johnstone (West Brom), Jordan Pickford (Everton)

Defenders: John Stones (Man City), Luke Shaw (Man Utd), Harry Maguire (Man Utd), Trent Alexander-Arnold (Liverpool), Kyle Walker (Man City), Tyrone Mings (Aston Villa), Reece James (Chelsea), Conor Coady (Wolves), Ben Chilwell (Chelsea), Kieran Trippier (Atletico Madrid)

Midfielders: Mason Mount (Chelsea), Declan Rice (West Ham), Jordan Henderson (Liverpool), Jude Bellingham (Borussia Dortmund), Kalvin Phillips (Leeds)

Forwards: Harry Kane (Tottenham), Marcus Rashford (Man Utd), Raheem Sterling (Man City), Dominic Calvert-Lewin (Everton), Phil Foden (Man City), Jack Grealish (Aston Villa), Jadon Sancho (Borussia Dortmund), Bukayo Saka (Arsenal)