This photo taken on October 14, 2016 shows the smouldering debris of burned houses in Warpait, a Rohingya Muslim village in Rakhine state. Myanmar's security forces launched a crackdown in majority Rohingya areas of Rakhine following a series of militant attacks on police on October 9. Ye Aung Thu/AFP
This photo taken on October 14, 2016 shows the smouldering debris of burned houses in Warpait, a Rohingya Muslim village in Rakhine state. Myanmar's security forces launched a crackdown in majority Rohingya areas of Rakhine following a series of militant attacks on police on October 9. Ye Aung Thu/AFP
This photo taken on October 14, 2016 shows the smouldering debris of burned houses in Warpait, a Rohingya Muslim village in Rakhine state. Myanmar's security forces launched a crackdown in majority Rohingya areas of Rakhine following a series of militant attacks on police on October 9. Ye Aung Thu/AFP
This photo taken on October 14, 2016 shows the smouldering debris of burned houses in Warpait, a Rohingya Muslim village in Rakhine state. Myanmar's security forces launched a crackdown in majority Ro

Myanmar’s Rohingya insurgency has links to outside the country


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YANGON // A group of Rohingya Muslims that attacked Myanmar border guards in October is headed by people with links to Saudi Arabia and Pakistan, the International Crisis Group (ICG) said on Thursday, citing members of the group.

The coordinated attacks on October 9 killed nine policemen, and sparked a crackdown by security forces in the Muslim-majority north of Rakhine state in the country’s north-west.

At least 86 people have been killed, according to state media, and the United Nations has estimated that 27,000 members of the largely stateless Rohingya minority have fled across the border to Bangladesh.

Myanmar’s government, which is led by Nobel Peace Prize winner Aung San Suu Kyi, blamed Rohingyas supported by foreign militants for the October 9 attacks, but has issued scant further information about the assailants it called “terrorists”.

A group calling itself Harakah Al Yakin claimed responsibility for the attacks in video statements and the Brussels-based ICG said it had interviewed four members of the group in Rakhine and two outside Myanmar, as well as individuals in contact with members via messaging apps.

The Harakah Al Yakin, or Faith Movement, was formed after communal violence in 2012 in which more than 100 people were killed and about 140,000 displaced in Rakhine, most of them Rohingya, the group said.

Rohingya who had fought in other conflicts, as well as Pakistanis or Afghans, gave clandestine training to villagers in northern Rakhine over two years ahead of the attacks, it said.

The ICG identified Harakah Al Yakin’s leader as Ata Ullah, born in Karachi to a Rohingya migrant father before moving as a child to Mecca.

“Though not confirmed, there are indications he went to Pakistan and possibly elsewhere, and that he received practical training in modern guerrilla warfare,” the group said, noting that Ata Ullah was one of 20 Rohingya from Saudi Arabia leading the group’s operations in Rakhine.

A committee of 20 senior Rohingya émigrés oversees the group, which has its headquarters in Mecca, the ICG said.

Groups like ISIL and Al Qaeda in the Indian Subcontinent have referred to the plight of the Rohingya in their material, and the battlefield experience of at least some of the Rohingya fighters implied links to international militants, the ICG said.

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* Reuters

Red flags
  • Promises of high, fixed or 'guaranteed' returns.
  • Unregulated structured products or complex investments often used to bypass traditional safeguards.
  • Lack of clear information, vague language, no access to audited financials.
  • Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
  • Hard-selling tactics - creating urgency, offering 'exclusive' deals.

Courtesy: Carol Glynn, founder of Conscious Finance Coaching

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if you go

The flights

Air Astana flies direct from Dubai to Almaty from Dh2,440 per person return, and to Astana (via Almaty) from Dh2,930 return, both including taxes. 

The hotels

Rooms at the Ritz-Carlton Almaty cost from Dh1,944 per night including taxes; and in Astana the new Ritz-Carlton Astana (www.marriott) costs from Dh1,325; alternatively, the new St Regis Astana costs from Dh1,458 per night including taxes. 

When to visit

March-May and September-November

Visas

Citizens of many countries, including the UAE do not need a visa to enter Kazakhstan for up to 30 days. Contact the nearest Kazakhstan embassy or consulate.

The lowdown

Rating: 4/5

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While you're here

Michael Young: Where is Lebanon headed?

Kareem Shaheen: I owe everything to Beirut

Raghida Dergham: We have to bounce back

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.”

The specs

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Power: 400hp

Torque: 475Nm

Transmission: 9-speed automatic

Price: From Dh215,900

On sale: Now

Company profile

Company: Rent Your Wardrobe 

Date started: May 2021 

Founder: Mamta Arora 

Based: Dubai 

Sector: Clothes rental subscription 

Stage: Bootstrapped, self-funded 

Explainer: Tanween Design Programme

Non-profit arts studio Tashkeel launched this annual initiative with the intention of supporting budding designers in the UAE. This year, three talents were chosen from hundreds of applicants to be a part of the sixth creative development programme. These are architect Abdulla Al Mulla, interior designer Lana El Samman and graphic designer Yara Habib.

The trio have been guided by experts from the industry over the course of nine months, as they developed their own products that merge their unique styles with traditional elements of Emirati design. This includes laboratory sessions, experimental and collaborative practice, investigation of new business models and evaluation.

It is led by British contemporary design project specialist Helen Voce and mentor Kevin Badni, and offers participants access to experts from across the world, including the likes of UK designer Gareth Neal and multidisciplinary designer and entrepreneur, Sheikh Salem Al Qassimi.

The final pieces are being revealed in a worldwide limited-edition release on the first day of Downtown Designs at Dubai Design Week 2019. Tashkeel will be at stand E31 at the exhibition.

Lisa Ball-Lechgar, deputy director of Tashkeel, said: “The diversity and calibre of the applicants this year … is reflective of the dynamic change that the UAE art and design industry is witnessing, with young creators resolute in making their bold design ideas a reality.”

SERIE A FIXTURES

Friday Sassuolo v Benevento (Kick-off 11.45pm)

Saturday Crotone v Spezia (6pm), Torino v Udinese (9pm), Lazio v Verona (11.45pm)

Sunday Cagliari v Inter Milan (3.30pm), Atalanta v Fiorentina (6pm), Napoli v Sampdoria (6pm), Bologna v Roma (6pm), Genoa v Juventus (9pm), AC Milan v Parma (11.45pm)

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