DHAKA // Visibly shaken, Asmi Mehnaz pointed a trembling finger at the broken shards of glass that littered her front entrance, as a policeman took down her complaint in a tattered notebook.
"There were at least two dozen men," she said with a lump in her throat. "Most of them wielded pistols; many others brandished butcher knives."
The men demanded that Ms Mehnaz, a 23-year-old entrepreneur who owns two electronics stores in Dhaka, hand over 200,000 takas (Dh11,000) in cash. As she hunkered down inside her room, barricading the door with furniture, the men menacingly fired eight rounds in the air. They eventually broke into the living room, Ms Mehnaz said. They assaulted her father and aunt before fleeing with 50,000 takas kept inside a steel cabinet.
"They vowed to return again," Ms Mehnaz said.
Similar attacks happened on Thursday evening on five other houses in Mirpur, a grubby suburb in the north of Dhaka, less than a week after the parliamentary elections that catapulted Sheikh Hasina's Awami League to power.
Until two years ago, when the country had a civilian government, extortions and other criminal activities were common in Bangladesh. But the country saw a steady decline in such activities, locals say, during the iron-fisted rule of the military-backed caretaker government. But after the parliamentary elections this week, as politicians return to the corridors of power, notorious criminal elements, most of whom claim allegiance to political parties, are re-emerging in Bangladeshi society.
"Crime and politics go hand in hand in Bangladesh," said Syed Muha
As Bangladesh's major political heavyweights were incarcerated in the two years of caretaker government rule, criminal elements remained low key and thus, "out of business". After the elections, he said, it was a matter of time before criminals would return to the political fray.
"This is a very natural deterioration of law and order," Mr Ibrahim said. "And Bangladeshis are inured to violence."
The recent elections were not marred by incidents of violence, unlike previous ones. However, the Khaleda Zia-led Bangladesh Nationalist Party (BNP), which was trounced by a gaping margin by the Awami League, has complained to Bangladesh's Election Commission that voting irregularities and ballot rigging had occurred in 220 polling stations across 72 constituencies.
After the election ban on rallies was eased on Thursday, two people were killed and more than 20 injured in post-election clashes between the campaigners of the Awami League and the BNP across half a dozen districts around Bangladesh.
Given the country's history of political turbulence, many political analysts saw the post-poll violence coming.
Sheikh Hasina and Ms Zia have alternated leadership of the country between 1991 and 2006. In the past, when one assumed office, political campaigners from the other camp took to the streets, engaging in strikes, leaving the country paralysed and scaring away foreign investors.
Bangladesh's political culture is so blemished, said Sakiul Millat Morshed, that no political party ever graciously accepts defeat.
"Even if you bring Obama to govern Bangladesh, he won't be able to change Bangladesh's flawed political system," said Mr Morshed, the executive director of Shisuk, a non-governmental organisation.
"To manage a country of 144 million people with such limited resources is cumbersome."
These criminal elements, Mr Morshed said, have arisen due to widespread poverty - nearly 40 per cent of Bangladeshis live on less than US$1 (Dh3.67) per day. The unemployment rate stands at 45 per cent.
"You solve all these problems, and Bangladesh will not breed criminals any more," said Mr Morshed.
However, Mr Ibrahim is confident that even though the country will see a return of old, violent, graft-ridden politics, it will not corrode the public's faith in the new Hasina-led government.
"Until two years ago, politicians in Bangladesh felt they were above the law," he said. "But now after hundreds of politicians were tried in courts and jailed during the caretaker government rule, that feeling of invincibility has subsided."
The Awami League, which has solely assumed power without any support from coalition partners, was akin to a "sumo wrestler", Mr Ibrahim said.
"If it flails, it will fall with a huge thud," he said. "It cannot afford to let the post-poll violence spiral out of control considering it will have to bear the entire blame."
However, that view provides little respite to Ms Mehnaz, who has decided to shut her stores for a few days, fearing another attack by extortionists.
She said the "goons" had been attempting to usurp one of her shops for more than two years, she said, but were restrained because of the military-controlled regime.
"Now that they are in power," she said, "the attacks will become more audacious."
Ms Mehnaz belongs to Bangladesh's Bihari community, a marginalised group of Urdu-speaking migrants who are derogatorily labelled as "stranded Pakistanis".
Biharis have remained sequestered in refugee camps around the country for more than three decades, but in the recent elections, they were granted the right to vote for the first time in Bangladesh's turbulent history.
"We are minorities in Bangladesh," she said. "We are most vulnerable to criminal elements."
achopra@thenational.ae
Match info
Uefa Champions League Group B
Barcelona v Tottenham Hotspur, midnight
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.”
Abu Dhabi Sustainability Week
MATCH INFO
First Test at Barbados
West Indies won by 381 runs
Second Test at Antigua
West Indies won by 10 wickets
Third Test at St Lucia
February 9-13
Meydan racecard:
6.30pm: Handicap | US$135,000 (Dirt) | 1,400 metres
7.05pm: Handicap | $135,000 (Turf) | 1,200m
7.40pm: Dubai Millennium Stakes | Group 3 | $200,000 (T) | 2,000m
8.15pm: UAE Oaks | Group 3 | $250,000 (D) | 1,900m
8.50pm: Zabeel Mile | Group 2 | $250,000 (T) | 1,600m
9.20pm: Handicap | $135,000 (T) | 1,600m
UAE currency: the story behind the money in your pockets
Results:
5pm: Maiden (PA) | Dh80,000 | 1,200 metres
Winner: Jabalini, Szczepan Mazur (jockey), Younis Kalbani (trainer)
5.30pm: UAE Arabian Derby (PA) | Prestige | Dh150,000 | 2,200m
Winner: Octave, Gerald Avranche, Abdallah Al Hammadi
6pm: Arabian Triple Crown Round 3 (PA) | Group 3 Dh300,000 | 2,200m
Winner: Harrab, Richard Mullen, Mohamed Ali
6.30pm: Emirates Championship (PA) | Group 1 | Dh1million | 2,200m
Winner: BF Mughader, Szczepan Mazur, Younis Al Kalbani
7pm: Abu Dhabi Championship (TB) | Group 3 | Dh380,000 | 2,200m
Winner: GM Hopkins, Patrick Cosgrave, Jaber Ramadhan
7.30pm: Wathba Stallions Cup (PA) | Conditions | Dh70,000 | 1,600m
Winner: AF La’Asae, Tadhg O’Shea, Ernst Oertel
Omar Yabroudi's factfile
Born: October 20, 1989, Sharjah
Education: Bachelor of Science and Football, Liverpool John Moores University
2010: Accrington Stanley FC, internship
2010-2012: Crystal Palace, performance analyst with U-18 academy
2012-2015: Barnet FC, first-team performance analyst/head of recruitment
2015-2017: Nottingham Forest, head of recruitment
2018-present: Crystal Palace, player recruitment manager
Gender equality in the workplace still 200 years away
It will take centuries to achieve gender parity in workplaces around the globe, according to a December report from the World Economic Forum.
The WEF study said there had been some improvements in wage equality in 2018 compared to 2017, when the global gender gap widened for the first time in a decade.
But it warned that these were offset by declining representation of women in politics, coupled with greater inequality in their access to health and education.
At current rates, the global gender gap across a range of areas will not close for another 108 years, while it is expected to take 202 years to close the workplace gap, WEF found.
The Geneva-based organisation's annual report tracked disparities between the sexes in 149 countries across four areas: education, health, economic opportunity and political empowerment.
After years of advances in education, health and political representation, women registered setbacks in all three areas this year, WEF said.
Only in the area of economic opportunity did the gender gap narrow somewhat, although there is not much to celebrate, with the global wage gap narrowing to nearly 51 per cent.
And the number of women in leadership roles has risen to 34 per cent globally, WEF said.
At the same time, the report showed there are now proportionately fewer women than men participating in the workforce, suggesting that automation is having a disproportionate impact on jobs traditionally performed by women.
And women are significantly under-represented in growing areas of employment that require science, technology, engineering and mathematics skills, WEF said.
* Agence France Presse
The specs
Engine: 6.2-litre V8
Transmission: ten-speed
Power: 420bhp
Torque: 624Nm
Price: Dh325,125
On sale: Now
The specs: 2018 Nissan 370Z Nismo
The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km
TICKETS
Tickets start at Dh100 for adults, while children can enter free on the opening day. For more information, visit www.mubadalawtc.com.
South Africa v India schedule
Tests: 1st Test Jan 5-9, Cape Town; 2nd Test Jan 13-17, Centurion; 3rd Test Jan 24-28, Johannesburg
ODIs: 1st ODI Feb 1, Durban; 2nd ODI Feb 4, Centurion; 3rd ODI Feb 7, Cape Town; 4th ODI Feb 10, Johannesburg; 5th ODI Feb 13, Port Elizabeth; 6th ODI Feb 16, Centurion
T20Is: 1st T20I Feb 18, Johannesburg; 2nd T20I Feb 21, Centurion; 3rd T20I Feb 24, Cape Town
AUSTRALIA SQUAD
Aaron Finch, Matt Renshaw, Brendan Doggett, Michael Neser, Usman Khawaja, Shaun Marsh, Mitchell Marsh, Tim Paine (captain), Travis Head, Marnus Labuschagne, Nathan Lyon, Jon Holland, Ashton Agar, Mitchell Starc, Peter Siddle
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Company%20Profile
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All matches at the Harare Sports Club
- 1st ODI, Wednesday, April 10
- 2nd ODI, Friday, April 12
- 3rd ODI, Sunday, April 14
- 4th ODI, Sunday, April 16
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- UAE: Mohammed Naveed (captain), Rohan Mustafa, Ashfaq Ahmed, Shaiman Anwar, Mohammed Usman, CP Rizwan, Chirag Suri, Mohammed Boota, Ghulam Shabber, Sultan Ahmed, Imran Haider, Amir Hayat, Zahoor Khan, Qadeer Ahmed
- Zimbabwe: Peter Moor (captain), Solomon Mire, Brian Chari, Regis Chakabva, Sean Williams, Timycen Maruma, Sikandar Raza, Donald Tiripano, Kyle Jarvis, Tendai Chatara, Chris Mpofu, Craig Ervine, Brandon Mavuta, Ainsley Ndlovu, Tony Munyonga, Elton Chigumbura
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Games being played at The Sevens, Dubai
2pm, UAE Conference final
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Scoreline:
Barcelona 2
Suarez 85', Messi 86'
Atletico Madrid 0
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