(FILES) In this file photo taken on April 20, 2018 Myanmar deputy police major Moe Yan Naing (C) leaves the court following the ongoing trial of two detained journalists in Yangon.
A Myanmar policeman who shocked observers by testifying against his force when he described their effort to "entrap" two Reuters journalists has been sentenced to prison, a police spokesman said April 30, 2018. / AFP PHOTO / Sai Aung MAIN
In this photo, taken on April 20, 2018, Myanmar deputy police major Moe Yan Naing (C) leaves the court following the ongoing trial of two detained journalists in Yangon. Sai Aung Main / AFP

Whistleblowing Myanmar policeman sentenced to jail



A Myanmar police officer who told a court his colleagues had tried to "entrap" two Reuters journalists has been handed a prison term, a police spokesman said on Monday.

Deputy Police Major Moe Yan Naing, called as a prosecution witness earlier this month in a pre-trial hearing against the journalists, stunned the courtroom when he alleged a senior officer had ordered colleagues to "get" reporter Wa Lone by handing him sensitive files.

The Myanmar journalist, 32, and his colleague Kyaw Soe Oo, 28, face up to 14 years in prison on charges of possessing classified documents relating to security operations in Rakhine state, where the military is accused of atrocities against Rohingya Muslims.

They have been detained since they were arrested in December after meeting with police, in a case that has drawn intense global attention.

According to a police spokesman, Moe Yan Naing has been jailed for breaching a police disciplinary act, a charge he had been facing since December for his previous communication with Wa Lone.

Police sources said he was sentenced before he gave his shock testimony - an extremely rare instance of a security official openly challenging superiors in the formerly junta-run country.

"He was sentenced because he told others about information concerned with the police force without permission," Police Colonel Myo Thu Soe said, declining to say when the verdict was reached or how long his jail term was.

"He was found to have breached the Police Disciplinary Act," he said.

_____________

Read more

UN team visits Rohingya camp as refugees call for justice

Scepticism as Myanmar announces repatriation of first Rohingya family

UAE pledges Dh7.35m towards Rohingya refugee crisis

_____________

Moe Yan Naing's wife said she was informed of her husband's sentencing on Sunday night.

"The police told me [on Sunday] evening that he had been sent to Insein prison to face a year-long sentence," Tu Tu said through tears.

After he testified on April 20, the defence quickly expressed fears for his safety, while the prosecution filed a motion to declare him a "hostile witness".

Within 24 hours, Tu Tu and her children were evicted from their police housing in the capital Naypyidaw.

A police spokesman denied any connection between the two events, saying it was a "coincidence".

The case against the Reuters reporters compounded fears about slipping press freedoms in Myanmar, a fledgling democracy riven with ethnic conflicts.

At the time of their arrests the reporters were investigating security officers' roles in the extrajudicial killing of 10 Rohingya men in northern Rakhine, the site of an army crackdown that the UN says amounts to ethnic cleansing of the Muslim minority.

The military has overwhelmingly denied allegations of atrocities but did concede that security officers took part in the killings reported by Reuters - a rare admission of guilt made after the journalists were arrested.

Some 700,000 Rohingya have fled to neighbouring Bangladesh since the army-led campaign was launched last August, ostensibly to combat Rohingya insurgents.

The stateless group has faced decades of systematic discrimination and persecution in mainly Buddhist Myanmar.

What drives subscription retailing?

Once the domain of newspaper home deliveries, subscription model retailing has combined with e-commerce to permeate myriad products and services.

The concept has grown tremendously around the world and is forecast to thrive further, according to UnivDatos Market Insights’ report on recent and predicted trends in the sector.

The global subscription e-commerce market was valued at $13.2 billion (Dh48.5bn) in 2018. It is forecast to touch $478.2bn in 2025, and include the entertainment, fitness, food, cosmetics, baby care and fashion sectors.

The report says subscription-based services currently constitute “a small trend within e-commerce”. The US hosts almost 70 per cent of recurring plan firms, including leaders Dollar Shave Club, Hello Fresh and Netflix. Walmart and Sephora are among longer established retailers entering the space.

UnivDatos cites younger and affluent urbanites as prime subscription targets, with women currently the largest share of end-users.

That’s expected to remain unchanged until 2025, when women will represent a $246.6bn market share, owing to increasing numbers of start-ups targeting women.

Personal care and beauty occupy the largest chunk of the worldwide subscription e-commerce market, with changing lifestyles, work schedules, customisation and convenience among the chief future drivers.

LEADERBOARD

-19 T Fleetwood (Eng); -18 R McIlroy (NI), T Lawrence (SA); -16 J Smith; -15 F Molinari (Ita); -14 Z Lombard (SA), S Crocker (US)

Selected: -11 A Meronk (Pol); -10 E Ferguson (Sco); -8 R Fox (NZ) -7 L Donald (Eng); -5 T McKibbin (NI), N Hoejgaard (Den)

David Haye record

Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4

Company Profile

Name: Direct Debit System
Started: Sept 2017
Based: UAE with a subsidiary in the UK
Industry: FinTech
Funding: Undisclosed
Investors: Elaine Jones
Number of employees: 8

The specs

Engine: 2.0-litre 4-cyl, 48V hybrid

Transmission: eight-speed automatic

Power: 325bhp

Torque: 450Nm

Price: Dh359,000

On sale: now

DSC Eagles 23 Dubai Hurricanes 36

Eagles
Tries: Bright, O’Driscoll
Cons: Carey 2
Pens: Carey 3

Hurricanes
Tries: Knight 2, Lewis, Finck, Powell, Perry
Cons: Powell 3

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.”

Getting there

The flights

Emirates and Etihad fly to Johannesburg or Cape Town daily. Flights cost from about Dh3,325, with a flying time of 8hours and 15 minutes. From there, fly South African Airlines or Air Namibia to Namibia’s Windhoek Hosea Kutako International Airport, for about Dh850. Flying time is 2 hours.

The stay

Wilderness Little Kulala offers stays from £460 (Dh2,135) per person, per night. It is one of seven Wilderness Safari lodges in Namibia; www.wilderness-safaris.com.

Skeleton Coast Safaris’ four-day adventure involves joining a very small group in a private plane, flying to some of the remotest areas in the world, with each night spent at a different camp. It costs from US$8,335.30 (Dh30,611); www.skeletoncoastsafaris.com

UAE players with central contracts

Rohan Mustafa, Ashfaq Ahmed, Chirag Suri, Rameez Shahzad, Shaiman Anwar, Adnan Mufti, Mohammed Usman, Ghulam Shabbir, Ahmed Raza, Qadeer Ahmed, Amir Hayat, Mohammed Naveed and Imran Haider.

MATCH INFO

Fixture: Ukraine v Portugal, Monday, 10.45pm (UAE)

TV: BeIN Sports

Kill

Director: Nikhil Nagesh Bhat

Starring: Lakshya, Tanya Maniktala, Ashish Vidyarthi, Harsh Chhaya, Raghav Juyal

Rating: 4.5/5

SHALASH THE IRAQI

Author: Shalash
Translator: Luke Leafgren
Pages: 352
Publisher: And Other Stories

Company Profile

Company name: Cargoz
Date started: January 2022
Founders: Premlal Pullisserry and Lijo Antony
Based: Dubai
Number of staff: 30
Investment stage: Seed

Specs: 2024 McLaren Artura Spider

Engine: 3.0-litre twin-turbo V6 and electric motor
Max power: 700hp at 7,500rpm
Max torque: 720Nm at 2,250rpm
Transmission: Eight-speed dual-clutch auto
0-100km/h: 3.0sec
Top speed: 330kph
Price: From Dh1.14 million ($311,000)
On sale: Now

The Roundup : No Way Out

Director: Lee Sang-yong
Stars: Don Lee, Lee Jun-hyuk, Munetaka Aoki
Rating: 3/5

SPECS: Polestar 3

Engine: Long-range dual motor with 400V battery
Power: 360kW / 483bhp
Torque: 840Nm
Transmission: Single-speed automatic
Max touring range: 628km
0-100km/h: 4.7sec
Top speed: 210kph
Price: From Dh360,000
On sale: September

Company profile

Name: Belong
Based: Dubai
Founders: Michael Askew and Matthew Gaziano
Sector: Technology
Total funding: $3.5 million from crowd funding and angel investors
Number of employees:
12

Company profile

Company name: Fasset
Started: 2019
Founders: Mohammad Raafi Hossain, Daniel Ahmed
Based: Dubai
Sector: FinTech
Initial investment: $2.45 million
Current number of staff: 86
Investment stage: Pre-series B
Investors: Investcorp, Liberty City Ventures, Fatima Gobi Ventures, Primal Capital, Wealthwell Ventures, FHS Capital, VN2 Capital, local family offices

COMPANY PROFILE

Name: SmartCrowd
Started: 2018
Founder: Siddiq Farid and Musfique Ahmed
Based: Dubai
Sector: FinTech / PropTech
Initial investment: $650,000
Current number of staff: 35
Investment stage: Series A
Investors: Various institutional investors and notable angel investors (500 MENA, Shurooq, Mada, Seedstar, Tricap)

States of Passion by Nihad Sirees,
Pushkin Press

Rebel Moon – Part Two: The Scargiver review

Director: Zack Snyder
Starring: Sofia Boutella, Charlie Hunnam, Ed Skrein, Sir Anthony Hopkins
Rating: 2/5