The family of a Swedish EU diplomat who has been held captive in Iran for more than 500 days has urged the international community to help secure his release.
Johan Floderus was arrested on April 17, 2022 at Tehran's airport as he was returning home from a trip with friends.
"The family, friends, and supporters of Johan are calling for urgent international attention to secure his immediate release and safe return to Europe," the family wrote on a website dedicated to his release, on his 33rd birthday.
They said Mr Floderus is being held without formal charges at Tehran's Evin prison, where political prisoners and detainees facing security charges, including Iranians with dual nationality, are jailed.
His family said Mr Floderus had travelled throughout the Middle East to study languages, explore historic sites and to support humanitarian cooperation projects in Iran on behalf of the EU, and was arrested in April 2022 before leaving the country.
"His needs for adequate food rations, outside walks, medical checkups and much more are not respected (in jail)," his family wrote, adding that he had been denied "communicating" with Sweden's embassy in Tehran, except a few consular visits.
They said that starting in February 2023 Mr Floderus was restricted to making short phone calls once a month.
"He had to go on hunger strike to be allowed to make several of these calls, which have to be in English and monitored."
Earlier this week EU foreign policy chief Josep Borrell told reporters that Brussels was pushing “relentlessly” for his release.
“This is very much in our agenda, in our heart and we will not stop until Floderus will be free," he said.
For years, Iran's Revolutionary Guards have arrested dozens of dual nationals and foreigners, mostly on espionage and security-related charges.
Criminal code
Rights groups and Western governments have accused the Islamic Republic of trying to extract political concessions from other countries through arrests on security charges that may have been trumped up.
Tehran says such arrests are based on its criminal code and denies holding people for political reasons.
Mr Floderus’s family said he "has become yet another victim of Iran's alarming pattern of taking foreign nationals hostage for political purposes”.
Relations between Stockholm and Tehran have been tense since 2019 when Sweden arrested former Iranian official Hamid Noury for his role in the Iranian regime's 1988 mass executions of thousands of opponents.
He was sentenced to life in prison last year, prompting Iran to recall its envoy to Sweden in protest.
Iran announced in July last year that it had arrested a man on suspicion of espionage, two weeks after Mr Noury was sentenced.
According to a report in Swedish daily Aftonbladet, sources have said Iran arrested Mr Floderus in the hope of exchanging him with Mr Noury.
If agreed, it would not be the first time a prisoner swap between Iran and European countries has taken place.
In May, Belgian humanitarian worker Olivier Vandecasteele, 42, was released after 15 months in detention for alleged spying in a prisoner swap for Iranian diplomat Assadollah Assadi, sentenced to 20 years for plotting to bomb an opposition rally in Paris.
Several capitals have accused Iran of practising “hostage diplomacy” – arresting western citizens to obtain concessions such as the release of detained Iranians.
Abandon
Sangeeta Bandyopadhyay
Translated by Arunava Sinha
Tilted Axis Press
THE BIO
Born: Mukalla, Yemen, 1979
Education: UAE University, Al Ain
Family: Married with two daughters: Asayel, 7, and Sara, 6
Favourite piece of music: Horse Dance by Naseer Shamma
Favourite book: Science and geology
Favourite place to travel to: Washington DC
Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.
Results
5pm: Maiden (PA) Dh80,000 (Turf) 1,600m; Winner: Rawat Al Reef, Adrie de Vries (jockey), Abdallah Al Hammadi (trainer)
5.30pm: Wathba Stallions Cup Handicap (PA) Dh70,000 (T) 1,400m; Winner: Noof KB, Richard Mullen, Ernst Oertel
6pm: Handicap (PA) Dh80,000 (T) 1,200m; Winner: AF Seven Skies, Bernardo Pinheiro, Qaiss Aboud
6.30pm: Handicap (PA) Dh80,000 (T) 2,200m; Winner: Jabalini, Szczepan Mazur, Ibrahim Al Hadhrami
7pm: UAE Arabian Derby – Prestige (PA) Dh150,000 (T) 2,200m; Winner: Dergham Athbah, Richard Mullen, Mohamed Daggash
7.30pm: Emirates Championship – Group 1 (PA) Dh1,000,000 (T) 2,200m; Winner: Somoud, Richard Mullen, Jean de Roualle
8pm: Abu Dhabi Championship – Group 3 (TB) Dh380,000 (T) 2,200m; Winner: Irish Freedom, Antonio Fresu, Satish Seemar
Defending champions
World Series: South Africa
Women’s World Series: Australia
Gulf Men’s League: Dubai Exiles
Gulf Men’s Social: Mediclinic Barrelhouse Warriors
Gulf Vets: Jebel Ali Dragons Veterans
Gulf Women: Dubai Sports City Eagles
Gulf Under 19: British School Al Khubairat
Gulf Under 19 Girls: Dubai Exiles
UAE National Schools: Al Safa School
International Invitational: Speranza 22
International Vets: Joining Jack
Honeymoonish
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Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
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.”
Killing of Qassem Suleimani
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
Jawan
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The biog
Job: Fitness entrepreneur, body-builder and trainer
Favourite superhero: Batman
Favourite quote: We must become the change we want to see, by Mahatma Gandhi.
Favourite car: Lamborghini
What is graphene?
Graphene is extracted from graphite and is made up of pure carbon.
It is 200 times more resistant than steel and five times lighter than aluminum.
It conducts electricity better than any other material at room temperature.
It is thought that graphene could boost the useful life of batteries by 10 per cent.
Graphene can also detect cancer cells in the early stages of the disease.
The material was first discovered when Andre Geim and Konstantin Novoselov were 'playing' with graphite at the University of Manchester in 2004.
Countries offering golden visas
UK
Innovator Founder Visa is aimed at those who can demonstrate relevant experience in business and sufficient investment funds to set up and scale up a new business in the UK. It offers permanent residence after three years.
Germany
Investing or establishing a business in Germany offers you a residence permit, which eventually leads to citizenship. The investment must meet an economic need and you have to have lived in Germany for five years to become a citizen.
Italy
The scheme is designed for foreign investors committed to making a significant contribution to the economy. Requires a minimum investment of €250,000 which can rise to €2 million.
Switzerland
Residence Programme offers residence to applicants and their families through economic contributions. The applicant must agree to pay an annual lump sum in tax.
Canada
Start-Up Visa Programme allows foreign entrepreneurs the opportunity to create a business in Canada and apply for permanent residence.
MATCH INFO
Rugby World Cup (all times UAE)
Third-place play-off: New Zealand v Wales, Friday, 1pm
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
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