KABUL // An Afghan police recruit opened fire on Spanish trainers early today, killing two of them along with their interpreter, Spain's interior minister said.
The recruit was subsequently shot and killed by Spanish officers who had been conducting a police training course at their base in Badghis province, the Spanish interior minister Alfredo Perez Rubalcaba said.
The officers were members of a paramilitary unit that falls under the command of Spain's Defense Ministry, whose spokesman in Madrid said the motive for the attack was unknown.
Afghan officials said the incident took place in the Qalay-I-Naw district in Badghis, and they were still investigating the incident.
Majid Khan Shkib, a member of the provincial council, said there were suspicions that Taliban fighters active in the remote area had infiltrated the local police force, an increasingly common tactic among the insurgents.
After the officer's shooting, hundreds of local residents gathered at the gate to the Spanish camp, chanting and throwing stones, before moving on to the provincial government offices, the Afghan officials said.
The international security force said it had been told of the incident and was investigating.
Intentional shootings by Afghans against coalition partners have occurred previously but are still rare.
Two American civilians and two Afghan soldiers were killed last month when an Afghan soldier who trained others at a base outside the northern city of Mazar-e-Sharif started shooting during a weapons exercise
Earlier this month, an Afghan soldier killed three British service members with gunfire and a rocket-propelled grenade in the dead of night.
The soldier fled after that attack, leaving his motive unclear. But the Taliban claimed that he was a militant sympathiser taken in by insurgents after the assault.
In April, a US army trainer was killed by a suicide bomber who gained entry to the Afghan base after stealing an Afghan army uniform, while last November, an Afghan policeman killed five British soldiers at a checkpoint in Helmand.
The attacks come as the international coalition is accelerating training of Afghan soldiers and policemen so they can ultimately take responsibility for securing and defending the nation.
The speed with which Afghan security forces are growing has raised concerns about infiltration by the Taliban and the overall professionalism of the forces. The Afghan National Army has reached its goal of recruiting 134,000 soldiers, while the Afghan police has more than 104,000 officers serving in uniform.
Also today, Australia said one of its soldiers was among two international troops killed in fighting yesterday in the volatile south. The other casualty was an American.
A total of 49 foreign troops have been killed in Afghanistan this month, including 31 Americans, according to a count by The Associated Press. Australia, which has 1,550 troops in Afghanistan, has lost a total of 21 soldiers over the years of fighting in the country.
Nato, which has considerably ramped up pressure on the Taliban in Afghanistan, said more than 2,800 operations had been launched over the past 90 days, resulting in the death or capture of more than 365 insurgent leaders and 2,386 ordinary fighters.
Operations were up 83 per cent in July from the same month last year, Nato said. July was the deadliest month for US troops the 2001 invasion, with 66 killed.
Afghan and international forces have killed an estimated 40 Taliban fighters east of the Afghan capital since Friday as part of operations to provide security ahead of parliamentary elections next month, Nato said.
* AP
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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The flights
Emirates fly direct from Dubai to Houston, Texas, where United have direct flights to Managua. Alternatively, from October, Iberia will offer connections from Madrid, which can be reached by both Etihad from Abu Dhabi and Emirates from Dubai.
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