Papua New Guinea Prime Minister James Marape had warned the kidnappers they had 'nowhere to hide'. AFP
Papua New Guinea Prime Minister James Marape had warned the kidnappers they had 'nowhere to hide'. AFP

Hostages freed in Papua New Guinea after a week in captivity


The National

A professor from New Zealand and two other hostages have been freed in Papua New Guinea, the country's Prime Minister said on Sunday, a week after they were kidnapped by an armed group in the country's rugged highlands.

"It took us a while but the last three have been successfully returned," Papua New Guinea Prime Minister James Marape said.

The hostages were among four people kidnapped in a densely forested region last Sunday. One woman, a Papua New Guinea citizen, was freed on Wednesday.

National Police Commissioner David Manning said at the time that “from the information that we have received, the remaining three captives are in reasonable health".

The New Zealand hostage lives and works in Australia as a university professor, police said, while the other two people held were reported to be local university students.

The group's captors initially issued a ransom demand of roughly $1 million — an enormous sum in one of the Pacific region's poorest nations — before lowering the figure and abandoning a 24-hour deadline.

Mr Marape had urged the kidnappers to free the hostages, saying more than 13 of them had already been identified.

“You have nowhere to hide. All of you and your names and your faces are being profiled as we speak,” he said.

Papua New Guinea's highlands are a sprawling expanse of jungle-cloaked hills where the central government and security forces have little sway.

In recent years, the region has seen an increase in violence among rival groups and an influx of weapons.

Kidnapping for ransom is an uncommon crime in Papua New Guinea, a tribal society of nine million people who are mostly subsistence farmers.

With reporting from agencies

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Australian Open Champion

Rotterdam Champion

Indian Wells Runner-up

Miami Second round

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Wimbledon Quarter-finals

Cincinnati Runner-up

US Open Fourth round

Shanghai Semi-finals

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Company name: Fasset
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Rugby World Cup (all times UAE)

Final: England v South Africa, Saturday, 1pm

Fifa Club World Cup:

When: December 6-16
Where: Games to take place at Zayed Sports City in Abu Dhabi and Hazza bin Zayed Stadium in Al Ain
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Started: 2018

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Investor: Opportunity Venture (Asia)

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1. Featherweight 66kg: Ben Lucas (AUS) v Ibrahim Kendil (EGY)

2. Lightweight 70kg: Mohammed Kareem Aljnan (SYR) v Alphonse Besala (CMR)

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10. Catchweight 90kg: Tarek Suleiman (SYR) v Juscelino Ferreira (BRA)

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1. Baghdad, Iraq
2. Manama, Bahrain
3. Dhahran, Saudi Arabia
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8. Cairo, Egypt
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Results
Hong Kong 52-5 UAE
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UAE 36-32 South Korea

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Friday, June 21, 7.30pm kick-off: UAE v Malaysia
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- April 17, 2013: A bipartisan-drafted bill to expand background checks and ban assault weapons fails in the Senate.

- July 2015: Bill to require background checks for all gun sales is introduced in House of Representatives. It is not brought to a vote.

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Company name: Revibe
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Thalassaemia is part of a family of genetic conditions affecting the blood known as haemoglobin disorders.

Haemoglobin is a substance in the red blood cells that carries oxygen and a lack of it triggers anemia, leaving patients very weak, short of breath and pale.

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The condition mainly affects people of Mediterranean, South Asian, South-East Asian and Middle Eastern origin. Saudi Arabia recorded 45,892 cases of carriers between 2004 and 2014.

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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.

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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.

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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.”

UAE athletes heading to Paris 2024

Equestrian
Abdullah Humaid Al Muhairi, Abdullah Al Marri, Omar Al Marzooqi, Salem Al Suwaidi, and Ali Al Karbi (four to be selected).
Judo
Men: Narmandakh Bayanmunkh (66kg), Nugzari Tatalashvili (81kg), Aram Grigorian (90kg), Dzhafar Kostoev (100kg), Magomedomar Magomedomarov (+100kg); women's Khorloodoi Bishrelt (52kg).

Cycling
Safia Al Sayegh (women's road race).

Swimming
Men: Yousef Rashid Al Matroushi (100m freestyle); women: Maha Abdullah Al Shehi (200m freestyle).

Athletics
Maryam Mohammed Al Farsi (women's 100 metres).

Updated: February 26, 2023, 7:06 AM