Denmark's tough stance on Syrian refugees has led to protests in Copenhagen in recent years. AFP
Denmark's tough stance on Syrian refugees has led to protests in Copenhagen in recent years. AFP
Denmark's tough stance on Syrian refugees has led to protests in Copenhagen in recent years. AFP
Denmark's tough stance on Syrian refugees has led to protests in Copenhagen in recent years. AFP

Denmark vows to fix 'dysfunctional' asylum system


Tim Stickings
  • English
  • Arabic

A new government in Denmark has promised an asylum shake-up to stop unwanted refugees from reaching its borders.

Prime Minister Mette Frederiksen's coalition wants a joint EU reception centre to handle asylum claims outside Europe.

It says money used to look after refugees in Denmark could be better spent tackling the causes of migration at source.

Denmark receives about 1,000 to 1,500 asylum claims a year, far fewer than some European countries.

But Ms Frederiksen, a Social Democrat, promised at last month's election to maintain her hard line on immigration.

Despite winning a thin majority, she chose to form a unity government with the Liberals and Moderates.

A 63-page joint programme describes Denmark's current asylum system as “inhumane and dysfunctional”.

It said climate change, population growth, instability and a lack of opportunities for young people would only add to the pressure on Europe's borders.

“Denmark must fundamentally contribute to combatting the causes of migration and refugee flows. This requires ambitious climate action and sustainable economic development in Africa in particular,” it said.

“Resources that are currently used to deal with the spontaneous influx of refugees and migrants, many of whom are not entitled to protection, could instead be used for more aid and assistance in their neighbourhood and along migration routes.”

The coalition deal calls for agreements modelled on a pact between the EU and Turkey, under which Turkey is paid to stem the flow of Syrian refugees.

It says a reception centre outside Europe should be run jointly by the EU or by Denmark and other partners.

“The government will engage in all possible solutions that comply with international conventions and Denmark's EU legal obligations,” the new coalition agreement says.

Danish Prime Minister Mette Frederiksen, centre, with her new coalition partners Jakob Ellemann-Jensen and Lars Lokke Rasmussen. AFP
Danish Prime Minister Mette Frederiksen, centre, with her new coalition partners Jakob Ellemann-Jensen and Lars Lokke Rasmussen. AFP

A new government in neighbouring Sweden has also promised asylum reform so that it is “not more generous than required”.

Curbing immigration was the central demand of the right-wing Sweden Democrats before a September election that made them kingmakers.

Denmark, like Britain, has already enlisted Rwanda as a place to deport failed asylum seekers.

Ms Frederiksen's government last year attracted controversy by saying Syria was safe for people to return.

Lars Lokke Rasmussen, a former prime minister who founded the Moderates last year, was on Thursday appointed foreign minister in the new government.

As prime minister he sought to deter migrants with controversial measures such as a “jewellery law” that allows police to confiscate valuables.

Ukrainian refugees fleeing the war with Russia are exempted from this measure. About 30,000 have taken shelter in Denmark this year.

Jeff Buckley: From Hallelujah To The Last Goodbye
By Dave Lory with Jim Irvin

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

W.
Wael Kfoury
(Rotana)

Company profile

Name: Thndr

Started: October 2020

Founders: Ahmad Hammouda and Seif Amr

Based: Cairo, Egypt

Sector: FinTech

Initial investment: pre-seed of $800,000

Funding stage: series A; $20 million

Investors: Tiger Global, Beco Capital, Prosus Ventures, Y Combinator, Global Ventures, Abdul Latif Jameel, Endure Capital, 4DX Ventures, Plus VC,  Rabacap and MSA Capital

MATCH INFO

Manchester United 1 (Greenwood 77')

Everton 1 (Lindelof 36' og)

While you're here
If you go

The flights

The closest international airport for those travelling from the UAE is Denver, Colorado. British Airways (www.ba.com) flies from the UAE via London from Dh3,700 return, including taxes. From there, transfers can be arranged to the ranch or it’s a seven-hour drive. Alternatively, take an internal flight to the counties of Cody, Casper, or Billings

The stay

Red Reflet offers a series of packages, with prices varying depending on season. All meals and activities are included, with prices starting from US$2,218 (Dh7,150) per person for a minimum stay of three nights, including taxes. For more information, visit red-reflet-ranch.net.

 

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.”

Updated: December 15, 2022, 9:41 AM