A city hall was set on fire in Bordeaux as more than a million people took to the streets across France in continuing protests against the country’s unpopular pension reforms.
Violence broke out in some areas, including at a Paris march attended by 119,000 people, a record for the capital during the upheaval.
In total, 457 people were arrested and 441 security forces members were injured during the nationwide protests on Thursday.
More than 900 fires were also lit in the streets of Paris during the most violent day of protests by far since they began in January.
Polls show most people are against changes made by President Emmanuel Macron to increase the retirement age from 62 to 64, a move he says is necessary to keep the system afloat.
Unions called for new nationwide strikes and protests on Tuesday, during King Charles III's planned visit to France.
That will coincide with the British king’s scheduled visit to Bordeaux on the second day of his trip to France.
Interior Minister Gerald Darmanin visited police headquarters on Thursday night as fires still burnt in some Paris neighbourhoods. He gave the assurance that security “poses no problem” and the British monarch will be “welcomed and welcomed well”.
There was “enormous degrading” of public buildings and commerce, “far more important than in precedent demonstrations”, he said.
“There are troublemakers, often extreme left, who want to take down the state and kill police and ultimately take over the institutions,” Mr Darmanin said.
With violence intensifying in recent days, he said that 12,000 members of the security forces were on the French streets on Thursday, with 5,000 in Paris.
The heavy wooden door of the elegant Bordeaux City Hall was set on fire and quickly destroyed by members of an unauthorised demonstration, according to the Sud Ouest.
More than a million people joined protest marches held in cities and towns around the country on Thursday, the Interior Ministry said.
Demonstrations were held a day after Mr Macron further angered his critics by refusing to back down on the retirement bill that his government forced through parliament without a vote.
“While the (President) tries to turn the page, this social and union movement … confirms the determination of the world of workers and youth to obtain the withdrawal of the reform,” the eight unions organising protests said.
They called for localised action this weekend and new nationwide strikes and protests on Tuesday.
Protests against pensions continue in Paris — in pictures
Strikes upended travel as protesters blockaded train stations, Charles de Gaulle Airport in Paris, refineries and ports.
In Paris, street battles between police and black-clad, masked groups who attacked at least two fast food restaurants, a supermarket and a bank reflected intensifying violence and drew attention away from the tens of thousands of peaceful marchers.
Police, pelted by Molotov cocktails, objects and fireworks, charged multiple times and used tear gas to disperse rioters. A haze of tear gas fumes covered part of the Place de l'Opera, where demonstrators converged at the march's end.
Mr Darmanin said radicals numbered some 1,500.
Violence marred other marches, notably in the western cities of Nantes, Rennes and Lorient — where an administrative building was attacked and the courtyard of the police station was set afire and its windows broken — and in Lyon, in the south-east.
Thursday's nationwide protests were the ninth union-organised demonstrations since January, when opponents still hoped that parliament would reject Mr Macron's measure to raise the retirement age.
But the government forced it through using a special constitutional measure.
In an interview on Wednesday, Mr Macron refused to budge from his position that a new law is necessary to keep retirement coffers funded.
Opponents proposed other solutions, including higher taxes on the wealthy or companies, which Macron says would hurt the economy. He insisted the government’s bill to raise the retirement age must be implemented by the end of the year.
The Constitutional Council must now approve the measure.
High-speed and regional trains, the Paris metro and public transportation systems in other major cities were disrupted. About 30 per cent of flights at Paris Orly Airport were cancelled.
The Eiffel Tower and the Versailles Palace, where the British monarch is set to dine with Mr Macron, were closed on Thursday due to the strikes.
Nadia Belhoum, a 48-year-old bus driver participating in the action, criticised Mr Macron’s decision to force the higher retirement age through.
“The president of the Republic … is not a king, and he should listen to his people,” she said.
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Our legal consultants
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Nancy 9 (Hassa Beek)
Nancy Ajram
(In2Musica)
COMPANY%20PROFILE
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The five pillars of Islam
The Programme
Saturday, October 26: ‘The Time That Remains’ (2009) by Elia Suleiman
Saturday, November 2: ‘Beginners’ (2010) by Mike Mills
Saturday, November 16: ‘Finding Vivian Maier’ (2013) by John Maloof and Charlie Siskel
Tuesday, November 26: ‘All the President’s Men’ (1976) by Alan J Pakula
Saturday, December 7: ‘Timbuktu’ (2014) by Abderrahmane Sissako
Saturday, December 21: ‘Rams’ (2015) by Grimur Hakonarson
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Roll of honour
Who has won what so far in the West Asia Premiership season?
Western Clubs Champions League - Winners: Abu Dhabi Harlequins; Runners up: Bahrain
Dubai Rugby Sevens - Winners: Dubai Exiles; Runners up: Jebel Ali Dragons
West Asia Premiership - Winners: Jebel Ali Dragons; Runners up: Abu Dhabi Harlequins
UAE Premiership Cup - Winners: Abu Dhabi Harlequins; Runners up: Dubai Exiles
West Asia Cup - Winners: Bahrain; Runners up: Dubai Exiles
West Asia Trophy - Winners: Dubai Hurricanes; Runners up: DSC Eagles
Final West Asia Premiership standings - 1. Jebel Ali Dragons; 2. Abu Dhabi Harlequins; 3. Bahrain; 4. Dubai Exiles; 5. Dubai Hurricanes; 6. DSC Eagles; 7. Abu Dhabi Saracens
Fixture (UAE Premiership final) - Friday, April 13, Al Ain – Dubai Exiles v Abu Dhabi Harlequins
Company%20profile
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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.”
WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5