French soldiers, part of the national security plan 'Vigipirate', keep watch as they secure the area near the Arc de Triomphe, in Paris, France, early 03 July 2023. Violence broke out all over France after police fatally shot a 17-year-old teenager during a traffic stop in Nanterre on 27 June. The French Interior Ministry released a provisional bulletin for 02 July reporting, on the fifth night of rioting, 719 people arrested nationwide and 45 police officers or gendarmes injured. EPA / OLIVIER MATTHYS
French soldiers, part of the national security plan 'Vigipirate', keep watch as they secure the area near the Arc de Triomphe, in Paris, France, early 03 July 2023. Violence broke out all over France after police fatally shot a 17-year-old teenager during a traffic stop in Nanterre on 27 June. The French Interior Ministry released a provisional bulletin for 02 July reporting, on the fifth night of rioting, 719 people arrested nationwide and 45 police officers or gendarmes injured. EPA / OLIVIER MATTHYS
French soldiers, part of the national security plan 'Vigipirate', keep watch as they secure the area near the Arc de Triomphe, in Paris, France, early 03 July 2023. Violence broke out all over France after police fatally shot a 17-year-old teenager during a traffic stop in Nanterre on 27 June. The French Interior Ministry released a provisional bulletin for 02 July reporting, on the fifth night of rioting, 719 people arrested nationwide and 45 police officers or gendarmes injured. EPA / OLIVIER MATTHYS
French soldiers, part of the national security plan 'Vigipirate', keep watch as they secure the area near the Arc de Triomphe, in Paris, France, early 03 July 2023. Violence broke out all over France

France riots: Macron holds emergency meeting as killed teenager's grandmother urges calm


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French President Emmanuel Macron is counting on law enforcement to restore order after almost a week of nationwide riots sparked by a police officer’s fatal shooting of a teenager.

On Sunday evening, the grandmother of Nahel M, who was shot during a traffic stop, called for calm after a burning car was rammed into the home of the mayor of L’Hay-les-Roses, a Paris suburb. His wife and two children narrowly escaped the widely condemned attack.

Tensions eased overnight, with just 157 arrests as of 1.30am on Monday, according to BFM TV. And no major incidents were recorded, it said.

Mr Macron, who postponed a state visit to Germany to meet with Chancellor Olaf Scholz, held another emergency cabinet meeting through Sunday night in his latest attempt to craft a response to the violence, which is testing his authority and ability to carry out reforms.

He plans to meet with the heads of both houses of parliament on Monday and with the mayors of 220 towns and cities affected by the protests on Tuesday, said a participant in the meeting, who spoke anonymously.

Mr Macron also wants to start a detailed, longer-term assessment of the reasons that led to the unrest, the official said.

In addition to the deployment of police special forces – the National Gendarmerie Intervention Group – 45,000 more police have been deployed to riot-hit cities including Paris, Marseille, Lyon and Strasbourg. Nightly curfews have been put in place, and arrests were down to 700 nationwide on Sunday, down from a peak of nearly 1,500 through Friday and Saturday. For context, the national police force has around 150,000 staff.

The shooting of Nahel, a 17-year-old of North African descent, remains a flashpoint in a crisis over racism and inequality in France that has drawn comparisons with the reaction in the US to the murder of George Floyd in 2020.

The riots represent a second major crisis for Mr Macron this year after widespread, union-backed protests and public sector strikes, mainly over the raising of the retirement age. Both issues have seen him take political flack from the far left and far right, the latter having surged to electoral success in parliament last year through Marine Le Pen’s National Rally party.

“What Macron needs to do is develop substantive policies to address the problems faced by these youths,” Vivien A. Schmidt, a professor of European integration at Boston University, said by email. “Unfortunately, however, it is not clear that he even recognises the problem.”

Nahel's grandmother appealed for calm on Sunday, telling BFM TV that rioters were using his death on June 27 as a “pretext.”

"Stop and do not riot", she said.

"I tell the people who are rioting this: Do not smash windows, attack schools or buses. Stop. It's the mums who are taking the bus, it's the mums who walk outside."

Meanwhile, French government spokesman Olivier Veran said “there is no political message” in ransacking a store during the night.

“I don’t call these scenes of looting a movement,” he told France Inter radio.

The rioting, mostly carried out by young people from working-class neighborhoods, is once again laying bare the societal chasms. Some of the most violent clashes happened in the port city of Marseille, which Macron visited last week to pledge help for community projects.

Finance Minister Bruno Le Maire on Saturday tallied up damage to about a dozen shopping malls and more than 700 supermarkets, banks and stores, some of which have been reduced to rubble. Nearing the height of the summer tourist season, countries including the UK have put in place travel warnings for France.

Prime Minister Elisabeth Borne and Interior Minister Gerald Darmanin visited the L'Hay-les-Roses on Sunday after the incident at the mayor's home. “We’ll continue to bring order as quickly as possible,” Ms Borne said. “No mayor will be left alone.”

Labour unrest and street demonstrations happen regularly in France, but have taken on a more intense and confrontational tone in recent years, reflecting divisions within French society. Before the pension protests and the pandemic, the so-called Yellow Vest movement had already caused widespread property damage.

The current spate of unrest has prompted Mr Macron to postpone a rare state visit by a French president to Germany, where Chancellor Olaf Scholz called images of the clashes “very dispiriting” on Sunday.

Nahel, whose last name has been withheld by authorities, was buried on Saturday in Nanterre, his hometown, where he was shot at close range in a car. The officer who fired the gun has been charged with murder and is in pre-trial detention. Laurent-Franck Lienard, a lawyer for the officer, told Europe 1 radio that the policeman believed he needed to shoot.

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Who was Alfred Nobel?

The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.

  • In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
  • Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
  • Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.

Qosty Byogaani

Starring: Hani Razmzi, Maya Nasir and Hassan Hosny

Four stars

The years Ramadan fell in May

1987

1954

1921

1888

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

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Price, base: Dh105,900 (Premium); Dh115,900 (Sport)

Engine: 2.5-litre four-cylinder

Transmission: Continuously variable transmission

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Torque: 239Nm @ 4,400rpm

Fuel economy, combined: 8.1L / 100km (estimated)

Episode list:

Ep1: A recovery like no other- the unevenness of the economic recovery 

Ep2: PCR and jobs - the future of work - new trends and challenges 

Ep3: The recovery and global trade disruptions - globalisation post-pandemic 

Ep4: Inflation- services and goods - debt risks 

Ep5: Travel and tourism 

Army of the Dead

Director: Zack Snyder

Stars: Dave Bautista, Ella Purnell, Omari Hardwick, Ana de la Reguera

Three stars

The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

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.”

Company profile

Company: Verity

Date started: May 2021

Founders: Kamal Al-Samarrai, Dina Shoman and Omar Al Sharif

Based: Dubai

Sector: FinTech

Size: four team members

Stage: Intially bootstrapped but recently closed its first pre-seed round of $800,000

Investors: Wamda, VentureSouq, Beyond Capital and regional angel investors

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Updated: July 03, 2023, 6:45 AM