Indian activists protest against prime minister Narendra Modi during a rally on October 6, 2015 in New Delhi calling for an investigation into recent lynching death of a Muslim man by a mob who killed him because he ate beef. Sajjad Hussain / AFP Photo
Indian activists protest against prime minister Narendra Modi during a rally on October 6, 2015 in New Delhi calling for an investigation into recent lynching death of a Muslim man by a mob who killed him because he ate beef. Sajjad Hussain / AFP Photo
Indian activists protest against prime minister Narendra Modi during a rally on October 6, 2015 in New Delhi calling for an investigation into recent lynching death of a Muslim man by a mob who killed him because he ate beef. Sajjad Hussain / AFP Photo
Indian activists protest against prime minister Narendra Modi during a rally on October 6, 2015 in New Delhi calling for an investigation into recent lynching death of a Muslim man by a mob who killed

Breaking silence, India’s Modi calls Muslim’s murder over beef ‘unfortunate’


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New Delhi // India’s prime minister broke his silence on Wednesday over the lynching of a Muslim man suspected of eating beef, calling it “unfortunate” after criticism over his failure to speak out.

In his first response to an incident that has sparked concern about growing religious intolerance, Narendra Modi accused the opposition of trying to stir up controversy over the incident last month.

Mohammad Akhlaq was dragged from his home and beaten to death over rumours he had eaten beef.

Cows are considered sacred by Hindus, and beef eating has become a highly contentious issue since Mr Modi’s Hindu nationalist Bharatiya Janata Party (BJP) took power, with several states banning the practice.

The attack in the northern town of Dadri on the outskirts of India’s capital came against a background of growing concern over the influence of Hindu nationalist groups.

Last week one group with ties to the BJP forced the cancellation of a concert by a well-known Pakistani singer in the western city of Mumbai.

"The Dadri incident and refusal to allow the Pakistani singer to hold a concert are unfortunate and unwanted incidents," Mr Modi said in comments published by the Ananda Bazar Patrika daily on Wednesday.

“The BJP has never supported such acts. The opposition is trying to level charges of communalism against the BJP, but in doing so, they are themselves indulging in the politics of polarisation,” he told the Bengali-language daily.

Mr Modi has repeatedly appealed for religious unity in India, but critics say his failure to condemn such attacks is emboldening the Hindu right and encouraging intolerance towards Muslims and other religious minorities.

They are concerned by his failure to slap down prominent BJP members who make potentially inflammatory comments – such as culture minister Mahesh Sharma, who recently dismissed the Dadri killing as an “accident”.

More than 20 writers have returned awards in the last week in protest against Mr Modi’s silence over the killing of the Muslim man and the murder of a secular scholar.

On Tuesday, British-Indian novelist Salman Rushdie said that his silence was giving rise to a new culture of “thuggish violence” in India.

In a Twitter message, the author said he supported the writers during “alarming times for free expression” in India, in a Twitter message on social media.

Political opponents have accused Mr Modi’s party of looking to create religious tension ahead of a key electoral test this month in the populous northern state of Bihar.

On Monday, activists of a junior party in Mr Modi’s coalition doused the head of a think-tank in black ink to protest against the launch of a book by a former Pakistani foreign minister.

* Agence France-Presse and Reuters

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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."

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.”

Farage on Muslim Brotherhood

Nigel Farage told Reform's annual conference that the party will proscribe the Muslim Brotherhood if he becomes Prime Minister.
"We will stop dangerous organisations with links to terrorism operating in our country," he said. "Quite why we've been so gutless about this – both Labour and Conservative – I don't know.
“All across the Middle East, countries have banned and proscribed the Muslim Brotherhood as a dangerous organisation. We will do the very same.”
It is 10 years since a ground-breaking report into the Muslim Brotherhood by Sir John Jenkins.
Among the former diplomat's findings was an assessment that “the use of extreme violence in the pursuit of the perfect Islamic society” has “never been institutionally disowned” by the movement.
The prime minister at the time, David Cameron, who commissioned the report, said membership or association with the Muslim Brotherhood was a "possible indicator of extremism" but it would not be banned.

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Four motivational quotes from Alicia's Dubai talk

“The only thing we need is to know that we have faith. Faith and hope in our own dreams. The belief that, when we keep going we’re going to find our way. That’s all we got.”

“Sometimes we try so hard to keep things inside. We try so hard to pretend it’s not really bothering us. In some ways, that hurts us more. You don’t realise how dishonest you are with yourself sometimes, but I realised that if I spoke it, I could let it go.”

“One good thing is to know you’re not the only one going through it. You’re not the only one trying to find your way, trying to find yourself, trying to find amazing energy, trying to find a light. Show all of yourself. Show every nuance. All of your magic. All of your colours. Be true to that. You can be unafraid.”

“It’s time to stop holding back. It’s time to do it on your terms. It’s time to shine in the most unbelievable way. It’s time to let go of negativity and find your tribe, find those people that lift you up, because everybody else is just in your way.”