Muslim Brotherhood supporters convicted of playing a role in the killings of 16 policemen in August 2013 during the upheaval that followed the army's ouster of Islamist president Mohamed Mursi, stand behind bars during their trial in Cairo on February 2, 2015. An Egyptian court sentenced 183 supporters of the outlawed Muslim Brotherhood to death on Monday. Mohamed Abd El Ghany/Reuters
Muslim Brotherhood supporters convicted of playing a role in the killings of 16 policemen in August 2013 during the upheaval that followed the army's ouster of Islamist president Mohamed Mursi, stand behind bars during their trial in Cairo on February 2, 2015. An Egyptian court sentenced 183 supporters of the outlawed Muslim Brotherhood to death on Monday. Mohamed Abd El Ghany/Reuters
Muslim Brotherhood supporters convicted of playing a role in the killings of 16 policemen in August 2013 during the upheaval that followed the army's ouster of Islamist president Mohamed Mursi, stand behind bars during their trial in Cairo on February 2, 2015. An Egyptian court sentenced 183 supporters of the outlawed Muslim Brotherhood to death on Monday. Mohamed Abd El Ghany/Reuters
Muslim Brotherhood supporters convicted of playing a role in the killings of 16 policemen in August 2013 during the upheaval that followed the army's ouster of Islamist president Mohamed Mursi, stand

Egypt sentences 183 Muslim Brotherhood supporters to death


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CAIRO // An Egyptian court on Monday sentenced 183 people to death over the ransacking of a police station and the killing of 15 policemen after the 2013 removal of president Mohammed Morsi. The verdict was the latest in a string of mass death sentences that have sparked local and international condemnation.

The charges are related to the bloody August 2013 ransacking of a police station in the village of Kerdassah, near Cairo. The attackers killed 15 officers, including the police chief, and mutilated some of the bodies.

The assault was believed to be revenge by Morsi loyalists for the government’s crackdown on the Muslim Brotherhood.

Mr Morsi, a longtime Brotherhood official, was ousted by the military in July 2013 following mass protests against his rule. Mr Morsi’s supporters staged two large public sit-in protests in Cairo, which were harshly broken up by police on August 14, 2013 — killing hundreds of Brotherhood cadres. The attack on the Kerdassah police station began a few hours after the Brotherhood sit-ins were cleared.

Monday’s verdict was issued by judge Mohammed Nagi Shehata, who has developed a reputation for harsh sentences against perceived government critics.

Mr Shehata previously sentenced a trio of prominent revolutionary activists to prison for violating a new law against unauthorised demonstrations. He also sentenced three journalists from Al Jazeera English to jail terms ranging from 7 to 10 years; one of those journalists, Australian Peter Greste, was released and deported on Sunday, while the other two remain in prison.

Other judges have also handed down mass death sentences against Brotherhood supporters, including more than 1000 in a pair of mass trials that were heavily criticised by international human rights groups. Many of those sentences were later overturned on appeal, and in one incident, a judge was removed.

Mr Morsi is, himself, facing multiple trials over his one-year reign – including charges of conspiring with foreign groups and authorising the killing of protesters. He is scheduled to begin a new trial on February 15 over charges of allegedly leaking “classified documents” to Qatar and Al Jazeera television, a judicial source said on Monday.

Mr Morsi and nine others, including an Al Jazeera employee, are accused of “handing over to Qatar intelligence documents linked to national security in exchange for one million dollars”, a prosecution statement said.

It said the case against the suspects, of whom seven are in custody, represented “the biggest act of treason and espionage” ever carried out against Egypt.

Mr Morsi is already on trial in three separate cases – one for the killing of protesters during his presidency, another for allegedly conspiring with foreign powers including Iran to destabilise Egypt, and a third over a jailbreak and attacks on police stations during the 2011 uprising that ousted president Hosni Mubarak.

Trials against Mr Morsi and several leaders of his Muslim Brotherhood are part of a crackdown targeting his supporters that has left hundreds dead, thousands jailed and hundreds sentenced to death after speedy trials.

Qatar had always supported Mr Morsi and his Muslim Brotherhood, which posted strong electoral gains after Mubarak's removal.

In the latest trial, Mr Morsi’s co-defendants include: his former secretary, Amin El Serafi, the ex-director of his office, Ahmed Abdel Atti, and Ibrahim Mohamed Helal, identified as a chief editor of Al Jazeera television.

Mr Morsi and Abdel Atti gave Mr El Serafi “extremely sensitive documents concerning the army, its deployment and weaponry”, and he then passed them to Mr Helal and a Qatari intelligence operative, according to the prosecution.

It said unidentified intermediaries were used to send the documents to Mr Helal and the Qataris.

The papers included documents from the “general and military intelligence offices of the state security” apparatus, the prosecutor said.

Relations between Egypt and Qatar soured after Mr Morsi’s removal.

Diplomatic ties between Cairo and Doha have been improving since a regional summit hosted by Riyadh in November at which Qatar joined its Arabian Gulf neighbours in supporting Egypt under president Abdel Fattah El Sisi.

* Associated Press, Agence France-Presse

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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.”