A senior member of Myanmar's deposed ruling party became the latest prominent politician arrested as the country's new military government confronts resistance to its seizure of power.
Win Htein, 79, is a longtime confidante of ousted leader Aung San Suu Kyi and had publicly called for civil disobedience in opposition to Monday's coup.
He was arrested at his home in Yangon and and taken to the capital Naypyidaw, Kyi Toe, a spokesman for Ms Suu Kyi's National League for Democracy party, said on his Facebook page.
According to the Assistance Association for Political Prisoners, at least 133 officials or legislators and 14 civil society activists have been detained by the military in connection with its takeover. The NLD said Ms Suu Kyi and ousted President Win Myint are being held under charges that allow for their detention until mid-February.
Win Htein told the Myanmar-language service of BBC radio in a call early on Friday that he was being detained for sedition, which carries a maximum penalty of life imprisonment.
“They don’t like what I’ve been talking about. They are afraid of what I’m saying,” he said.
The military government blocked access to Facebook on Thursday in an apparent effort to thwart the organising of protests. Facebook is how most people access the internet in Myanmar.
Still, signs of resistance were evident. Medical personnel said they will not work for the military government. Anti-coup graffiti appeared in Yangon as well as flash protests on the streets, and a spirited protest by about 20 people occurred outside a medical school in Mandalay. Three people were arrested there, and Twitter posts that could not be verified said people were detained over the Yangon protests as well.
Thousands of people in the capital Naypyidaw joined a rally in support of the military coup on Thursday, the latest in a number of events that aim to project an image of popular acceptance of the power grab.
The takeover was criticised by US President Joe Biden and others internationally who pushed for the elected government to be restored.
“The Burmese military should relinquish power they have seized, release the advocates and activists and officials they have detained, lift the restrictions on telecommunications, and refrain from violence,” Mr Biden said on Thursday at the US State Department in Washington, using Myanmar’s former name.
The UN Security Council, in its first statement on the matter, “stressed the need to uphold democratic institutions and processes, refrain from violence, and fully respect human rights, fundamental freedoms and the rule of law”.
While the US and others have described the military's actions as a coup, the Security Council's unanimous statement did not.
The military seized power shortly before a new session of parliament was to convene on Monday, declaring its actions were legal and constitutional because Ms Suu Kyi's government had refused to address voting irregularities. The state election commission refuted the allegations of irregularities and confirmed that Ms Suu Kyi’s party won a landslide victory.
The military put all state powers into the hands of the junta, including legislative functions, during a one-year emergency. It also formed a new election commission to investigate its allegations of voting irregularities, to hold a new election at the end of the state of emergency and to turn over power to the winner.
Myanmar was under military rule for five decades after a 1962 coup, and Ms Suu Kyi’s five years as leader were its most democratic period since then, despite continued use of repressive colonial-era laws.
COMPANY PROFILE
Name: Akeed
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The five pillars of Islam
Libya's Gold
UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves.
The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.
Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.
A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.
Another way to earn air miles
In addition to the Emirates and Etihad programmes, there is the Air Miles Middle East card, which offers members the ability to choose any airline, has no black-out dates and no restrictions on seat availability. Air Miles is linked up to HSBC credit cards and can also be earned through retail partners such as Spinneys, Sharaf DG and The Toy Store.
An Emirates Dubai-London round-trip ticket costs 180,000 miles on the Air Miles website. But customers earn these ‘miles’ at a much faster rate than airline miles. Adidas offers two air miles per Dh1 spent. Air Miles has partnerships with websites as well, so booking.com and agoda.com offer three miles per Dh1 spent.
“If you use your HSBC credit card when shopping at our partners, you are able to earn Air Miles twice which will mean you can get that flight reward faster and for less spend,” says Paul Lacey, the managing director for Europe, Middle East and India for Aimia, which owns and operates Air Miles Middle East.
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Year of birth: 1988
Place of birth: Baghdad
Education: PhD student and co-researcher at Greifswald University, Germany
Hobbies: Ping Pong, swimming, reading
'Saand Ki Aankh'
Produced by: Reliance Entertainment with Chalk and Cheese Films
Director: Tushar Hiranandani
Cast: Taapsee Pannu, Bhumi Pednekar, Prakash Jha, Vineet Singh
Rating: 3.5/5 stars
Jawan
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Astroworld
Travis Scott
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match info
Southampton 0
Arsenal 2 (Nketiah 20', Willock 87')
Red card: Jack Stephens (Southampton)
Man of the match: Rob Holding (Arsenal)
World Cup final
Who: France v Croatia
When: Sunday, July 15, 7pm (UAE)
TV: Game will be shown live on BeIN Sports for viewers in the Mena region
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.”
Third Test
Day 3, stumps
India 443-7 (d) & 54-5 (27 ov)
Australia 151
India lead by 346 runs with 5 wickets remaining
Netherlands v UAE, Twenty20 International series
Saturday, August 3 - First T20i, Amstelveen
Monday, August 5 – Second T20i, Amstelveen
Tuesday, August 6 – Third T20i, Voorburg
Thursday, August 8 – Fourth T20i, Vooryburg
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