Demonstrators in Islamabad, Pakistan on September 8, 2017 added their voice to calls for Myanmar's Aung San Suu Kyi to be stripped of her Nobel Peace prize for her inaction over the persecution of Rohingya Muslims. in Islamabad, Pakistan September 8, 2017. Caren Firouz / Reuters
Demonstrators in Islamabad, Pakistan on September 8, 2017 added their voice to calls for Myanmar's Aung San Suu Kyi to be stripped of her Nobel Peace prize for her inaction over the persecution of Rohingya Muslims. in Islamabad, Pakistan September 8, 2017. Caren Firouz / Reuters
Demonstrators in Islamabad, Pakistan on September 8, 2017 added their voice to calls for Myanmar's Aung San Suu Kyi to be stripped of her Nobel Peace prize for her inaction over the persecution of Rohingya Muslims. in Islamabad, Pakistan September 8, 2017. Caren Firouz / Reuters
Demonstrators in Islamabad, Pakistan on September 8, 2017 added their voice to calls for Myanmar's Aung San Suu Kyi to be stripped of her Nobel Peace prize for her inaction over the persecution of Roh

Massive protests in Bangladesh against Rohingya killings in Myanmar, but Nobel Institute says it can't strip Aung San Suu Kyi of her Peace prize


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Thousands of demonstrators took to the streets of Bangladesh on Friday to protest against the killing of Rohingya Muslims in neighbouring Myanmar.

At least 15,000 supporters of the Islamist Islami Andolon Bangladesh party chanted slogans against Myanmar's de facto leader Aung San Suu Kyi as they demonstrated in Dhaka and the town of Tongi to the north of the capital after Friday prayers.

"Myanmar army is carrying out a genocide of the Rohingya with the help of Suu Kyi's government. She must be held accountable and tried," said party spokesman K.M. Atiqur Rahman.

Earlier, several thousand supporters of Bangladesh's main opposition political party formed a human chain to protest against the treatment of Myanmar's Rohingya minority.

The United Nations says 270,000 Rohingya have arrived in predominantly Muslim Bangladesh in the last fortnight after fleeing Myanmar, where refugees say their villages have been burned to the ground and relatives killed by the army.

Images purportedly showing atrocities against the Rohingya have flooded Bangladeshi social media, triggering an outpouring of sympathy among locals, who have historical ties with the community. Dhaka has protested at what it called an "unprecedented influx" of Rohingya since the latest violence erupted on August 25.

In the past two weeks, the Bangladesh government has twice summoned the Myanmar envoy to express its concern over the escalation of violence and the "unbearable additional burden" the new arrivals place on the country. Bangladesh is already a poor country and had already taken in 400,000 Rohingya before the latest influx.

Kuwait on Friday announced it was sending $1.5 million (Dh5.5 million) of emergency aid to help the Rohingya community and Mohammad Al Jabri, Kuwait's minister of Islamic affairs, religious endowment and minister of state for municipal affairs, urged citizens and residents of Kuwait to offer donations.

Meanwhile, the organization that oversees the Nobel Peace Prize on Friday said the 1991 prize awarded to Myanmar's Aung Sang Suu Kyi cannot be revoked.

Olav Njolstad, head of the Norwegian Nobel Institute said neither the will of prize founder Alfred Nobel nor the Nobel Foundation's rules provide for the possibility of withdrawing the honour from laureates.

"It is not possible to strip a Nobel Peace Prize laureate of his or her award once bestowed," Mr Njolstad said. "None of the prize awarding committees in Stockholm and Oslo has ever considered revoking a prize after it has been awarded."

An online petition signed by more than 386,000 people on Change.org is calling for Suu Kyi to be stripped of her Peace Prize over the persecution of Myanmar's Rohingya Muslim minority. Suu Kyi received the award for "her non-violent struggle for democracy and human rights" while standing up to military rulers.

She spent years under house arrest when Myanmar was a military dictatorship.She became the country's de facto leader, with the title State Counsellor, after Myanmar held its first free election in 2012 and she led her party to a landslide victory.

But her global reputation is now in tatters over her failure to condemn the violence against the Rohingya.

Human rights groups, activists -- including many who campaigned for her in the past -- and her fellow Nobel laureates Malala Yousafzai and Archbishop Desmond Tutu have condemned her

Earlier this week Suu Kyi, 72, condemned a "huge iceberg of misinformation" on the crisis, without mentioning the Rohingya flocking to Bangladesh.

She has described the situation in Rhine state as "one of the biggest challenges that we've had to face" but said it "a little unreasonable to expect us to resolve everything in 18 months."

But Yanghee Lee, the UN special rapporteur on human rights in Myanmar, said, "What we forget is that she is a politician through and through. People expect her to have that big high moral voice but she's a politician, and what's the most important objective if you are a politician? Getting elected. I think we need to delete our memories of the imprisoned democratic icon."

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Countries recognising Palestine

France, UK, Canada, Australia, Portugal, Belgium, Malta, Luxembourg, San Marino and Andorra

 

WHAT IS A BLACK HOLE?

1. Black holes are objects whose gravity is so strong not even light can escape their pull

2. They can be created when massive stars collapse under their own weight

3. Large black holes can also be formed when smaller ones collide and merge

4. The biggest black holes lurk at the centre of many galaxies, including our own

5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed

How to wear a kandura

Dos

  • Wear the right fabric for the right season and occasion 
  • Always ask for the dress code if you don’t know
  • Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work 
  • Wear 100 per cent cotton under the kandura as most fabrics are polyester

Don’ts 

  • Wear hamdania for work, always wear a ghutra and agal 
  • Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
Islamophobia definition

A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.

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The Details

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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.”

Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

UAE currency: the story behind the money in your pockets
if you go

The flights
Emirates flies to Delhi with fares starting from around Dh760 return, while Etihad fares cost about Dh783 return. From Delhi, there are connecting flights to Lucknow. 
Where to stay
It is advisable to stay in Lucknow and make a day trip to Kannauj. A stay at the Lebua Lucknow hotel, a traditional Lucknowi mansion, is recommended. Prices start from Dh300 per night (excluding taxes). 

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PROFILE OF HALAN

Started: November 2017

Founders: Mounir Nakhla, Ahmed Mohsen and Mohamed Aboulnaga

Based: Cairo, Egypt

Sector: transport and logistics

Size: 150 employees

Investment: approximately $8 million

Investors include: Singapore’s Battery Road Digital Holdings, Egypt’s Algebra Ventures, Uber co-founder and former CTO Oscar Salazar

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Tree of Hell

Starring: Raed Zeno, Hadi Awada, Dr Mohammad Abdalla

Director: Raed Zeno

Rating: 4/5