epa06395936 (FILE) -An illuminated Christmas tree (L) is displayed in front of the Kazan Cathedral in St Petersburg, Russia, 17 December 2009 (issued 17 December 2017). According to the Kremlin, Russian President Vladimir Putin called US President Donald J. Trump to thank him for a tip provided by the CIA that thwarted a terrorist attack that targeted the Kazan Cathedral in St. Petersburg, Russia.  EPA/ANATOLY MALTSEV *** Local Caption *** 01969262
Kazan Cathedral in St Petersburg, Russia, the suspected target of an alleged ISIL terrorist plot. EPA/ANATOLY MALTSEV

CIA tipped off Russia about planned St Petersburg bombings: Kremlin



A CIA tip-off to their Russian counterparts foiled a plot to bomb St Petersburg’s Kazan Cathedral and other crowded sites at the weekend, the Kremlin said.

The counter-terrorist cooperation came even as Russia-U.S. ties have plunged to their lowest level since the Cold War era — first over Russia's annexation of Crimea and support for pro-Russia separatists in Ukraine, more recently over allegations that Moscow interfered in the U.S. presidential election to help Trump. 
While Russian officials have said the two countries were continuing to exchange some terror-related intelligence, Sunday's statement from the Kremlin was Russia's first public assertion that information from the United States helped prevent an attack. 
"The information received from the CIA proved sufficient to find and detain the criminal suspects," the Kremlin said. 
Russian President Vladimir Putin telephoned US President Donald Trump on to thank him for the CIA tip, the Kremlin and the White House said. 
"President Trump appreciated the call and told President Putin that he and the entire United States intelligence community were pleased to have helped save so many lives," the White House said in a statement.

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The Federal Security Service, or FSB, said on Friday that seven suspected followers of ISIL had been arrested for allegedly planning to carry out terror attacks in St. Petersburg this weekend. 
The agency said the suspects were plotting a suicide bombing in a church and a series of other explosions in the city's busiest areas this coming weekend on ISIL orders.

It said a search of a St. Petersburg apartment found explosives, automatic weapons and extremist literature. Russian news reports said that Kazan Cathedral, a landmark 19th century Russian Orthodox church on St. Petersburg's central Nevsky Prospect, was the prime target. 
If the suspects succeeded in bombing the cathedral, it would have been the first major attack on a Russian Orthodox Church by Islamic terrorists, who have blown up apartment buildings, passenger planes and transport facilities in Russia. 
In April, a suicide bombing in the St. Petersburg's subway left 16 dead and wounded more than 50. 
Russian TV stations have aired footage daily since Friday of the suspects in the foiled attacks being apprehended and questioned.

One segment showed FSB operatives outside a St. Petersburg apartment building detaining a suspect, who appeared later saying he was told to prepare homemade bombs rigged with shrapnel. 
"My job was to make explosives, put it in bottles and attach pieces of shrapnel," the suspect, identified by Russian media as 18-year old Yevgeny Yefimov, said in the footage released by the FSB.

Last week, the FSB said it also arrested several ISIL-linked suspects in Moscow, where they allegedly were plotting a series of suicide bombings to coincide with New Year's celebrations.

TWISTERS

Director:+Lee+Isaac+Chung

Starring:+Glen+Powell,+Daisy+Edgar-Jones,+Anthony+Ramos

Rating:+2.5/5

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.”

Libya's Gold

UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves.

The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.

Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.

A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.

COMPANY PROFILE

Company name: Revibe
Started: 2022
Founders: Hamza Iraqui and Abdessamad Ben Zakour
Based: UAE
Industry: Refurbished electronics
Funds raised so far: $10m
Investors: Flat6Labs, Resonance and various others

The Boy and the Heron

Director: Hayao Miyazaki

Starring: Soma Santoki, Masaki Suda, Ko Shibasaki

Rating: 5/5

SCORES IN BRIEF

Lahore Qalandars 186 for 4 in 19.4 overs
(Sohail 100,Phil Salt 37 not out, Bilal Irshad 30, Josh Poysden 2-26)
bt Yorkshire Vikings 184 for 5 in 20 overs
(Jonathan Tattersall 36, Harry Brook 37, Gary Ballance 33, Adam Lyth 32, Shaheen Afridi 2-36).

THE STRANGERS' CASE

Director: Brandt Andersen
Starring: Omar Sy, Jason Beghe, Angeliki Papoulia
Rating: 4/5