Police try to open the door of the tourist bus hijacked in Manila.
Police try to open the door of the tourist bus hijacked in Manila.
Police try to open the door of the tourist bus hijacked in Manila.
Police try to open the door of the tourist bus hijacked in Manila.

Police kill gunman to end Manila hostage bus drama


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Police killed a gunman who took hostage a group of Hong Kong tourists on a bus in the heart of the Philippine capital today, a senior police official said. "He is dead. He was forced to retreat to the front of the vehicle when the SWAT (special weapons and tactics police) team attacked from the back," assault leader Superintendent Nelson Yabut said. At least five Hong Kong tourists were killed during the dramatic hostage siege. "At the moment there are five casualties. Four are confirmed dead. One is in a critical condition," Faith Gaerlan, emergency medicine chief at Manila Doctors Hospital, told AFP. Another hospital also received the body of a woman it identified as among the hostages, a member of its emergency medical staff said. Metropolitan Manila police chief director Leocadio Santiago said police could not immediately give an exact figure of the casualties and those who survived. A total of 22 Hong Kong tourists and three Filipinos were aboard the tourist bus when sacked police senior inspector Rolando Mendoza seized the vehicle early today, demanding that he be reinstated. He released nine people during police negotiations, including two Filipinos, and demanded his job back to release the rest. The remaining Filipino, the bus driver, escaped when Mendoza began shooting at the hostages by nightfall, forcing police to launch an assault in a bid to free the remaining 15 hostages. The Filipino driver who escaped moments before police surrounded the bus in downtown Manila said the hostage-taker, armed with an M16 rifle, had opened fire at the tourists, police officer Roderick Mariano said. Police used hammers to smash side windows, door and windscreen, but did not initially enter the vehicle and there was no movement seen inside.

Hours after seizing the bus, he released two women, three children, a diabetic man and three Filipinos - including a tour guide and a photographer, police said. The hostage-taker, identified as former senior inspector Rolando Mendoza, 55, was demanding he be given back his job on the police force a year after he was fired, the Manila police chief Rodolfo Magtibay said. According to newspaper reports from 2008, he was among five officers charged with robbery, extortion and grave threats after a Manila hotel chef filed a complaint alleging the policemen falsely accused him of using drugs to extort money. A Chinese diplomat who was monitoring today's negotiations said the hostages were "calm and peaceful" and appealed to Philippine authorities not to jeopardise their safety as the day-long talks with the gunman continued into the evening.

Bai Tian, the deputy mission chief at the Chinese Embassy, told reporters they wanted every step taken "to secure the safety and security of our Chinese nationals". The Hong Thai Travel Services Ltd general manager, Susanna Lau, told Hong Kong's Cable TV the tour group had left the Chinese territory of Hong Kong on August 20 for a visit to Manila and was scheduled to fly back to Hong Kong today.

She said a Hong Kong tour guide and 20 tourists from the territory, three children and 17 adults, were on the bus. Mr Mendoza hitched a ride on the bus from the historic walled city of Intramuros then "declared he is taking the passengers hostage" when it reached Jose Rizal Park alongside Manila Bay, Magtibay said.

The area also includes the seaside US Embassy and a number of hotels.

* Agencies

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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.”

MATCH INFO

Champions League quarter-final, first leg

Ajax v Juventus, Wednesday, 11pm (UAE)

Match on BeIN Sports

LA LIGA FIXTURES

Friday Celta Vigo v Villarreal (midnight kick-off UAE)

Saturday Sevilla v Real Sociedad (4pm), Atletico Madrid v Athletic Bilbao (7.15pm), Granada v Barcelona (9.30pm), Osasuna v Real Madrid (midnight)

Sunday Levante v Eibar (4pm), Cadiz v Alaves (7.15pm), Elche v Getafe (9.30pm), Real Valladolid v Valencia (midnight)

Monday Huesca v Real Betis (midnight)

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AUSTRALIA SQUAD

Aaron Finch (captain), Ashton Agar, Alex Carey, Pat Cummins, Glenn Maxwell, Ben McDermott, Kane Richardson, Steve Smith, Billy Stanlake, Mitchell Starc, Ashton Turner, Andrew Tye, David Warner, Adam Zampa

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Key findings of Jenkins report
  • Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
  • Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
  • Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
  • Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
The specs

A4 35 TFSI

Engine: 2.0-litre, four-cylinder

Transmission: seven-speed S-tronic automatic

Power: 150bhp

Torque: 270Nm

Price: Dh150,000 (estimate)

On sale: First Q 2020

A4 S4 TDI

Engine: 3.0-litre V6 turbo diesel

Transmission: eight-speed PDK automatic

Power: 350bhp

Torque: 700Nm

Price: Dh165,000 (estimate)

On sale: First Q 2020

Profile

Name: Carzaty

Founders: Marwan Chaar and Hassan Jaffar

Launched: 2017

Employees: 22

Based: Dubai and Muscat

Sector: Automobile retail

Funding to date: $5.5 million

Benefits of first-time home buyers' scheme
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Three ways to boost your credit score

Marwan Lutfi says the core fundamentals that drive better payment behaviour and can improve your credit score are:

1. Make sure you make your payments on time;

2. Limit the number of products you borrow on: the more loans and credit cards you have, the more it will affect your credit score;

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RACECARD

6pm: Al Maktoum Challenge Round-1 – Group 1 (PA) $50,000 (Dirt) 1,600m
6.35pm: Festival City Stakes – Conditions (TB) $60,000 (D) 1,200m
7.10pm: Dubai Racing Club Classic – Listed (TB) $100,000 (Turf) 2,410m
7.45pm: Jumeirah Classic Trial – Conditions (TB) $150,000 (T) 1,400m
8.20pm: Al Maktoum Challenge Round-1 – Group 2 (TB) $250,000 (D) 1,600m
8.55pm: Cape Verdi – Group 2 (TB) $180,000 (T) 1,600m
9.30pm: Dubai Dash – Listed (TB) $100,000 (T) 1,000m

How the bonus system works

The two riders are among several riders in the UAE to receive the top payment of £10,000 under the Thank You Fund of £16 million (Dh80m), which was announced in conjunction with Deliveroo's £8 billion (Dh40bn) stock market listing earlier this year.

The £10,000 (Dh50,000) payment is made to those riders who have completed the highest number of orders in each market.

There are also riders who will receive payments of £1,000 (Dh5,000) and £500 (Dh2,500).

All riders who have worked with Deliveroo for at least one year and completed 2,000 orders will receive £200 (Dh1,000), the company said when it announced the scheme.

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

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The specs: 2019 Infiniti QX50

Price, base: Dh138,000 (estimate)
Engine: 2.0L, turbocharged, in-line four-cylinder
Transmission: Continuously variable transmission
Power: 268hp @ 5,600rpm
Torque: 380Nm @ 4,400rpm
Fuel economy: 6.7L / 100km (estimate)

The%20team
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