Egypt detains four in connection to Italian student murder case



CAIRO // Egypt on Saturday detained four people in connection with the murder of Italian student Giulio Regeni, whose mutilated body was found more than a week after his disappearance in Cairo on January 25.

Two of them are the wife and a sister of the alleged leader of a gang whom police have linked to Regeni’s death, prosecutors said.

They were arrested in the sister’s apartment, where police discovered a bag with Regeni’s passport and wallet.

The other two are the brother-in-law and brother of the alleged gang leader, who was killed in a shoot-out with police along with three other alleged criminals.

The four suspects are accused of concealing a crime and being in the possession of stolen material, a prosecution official said, adding that they were taken into custody for four days.

Egyptian police announced on Thursday that they discovered Regeni’s passport and wallet in the home of the leader’s sister, hours after the shoot-out.

Italy has cast doubt on the suggestion that the gang members – who allegedly posed as police to extort foreigners and Egyptians – were behind Regeni’s murder.

“Italy insists: we want the truth,” Italian foreign minister Paolo Gentiloni said in a tweet, while prosecutors in Rome rejected the latest conclusions of the Egyptian investigation.

Italian media and western diplomatic sources in Cairo have voiced suspicions that Egyptian security services kidnapped and tortured to death the 28-year-old Cambridge University graduate student.

Rome prosecutor Giuseppe Pignatone said the “details communicated so far are not satisfactory to shed light on the death of Giulio Regeni. Investigations must therefore continue.”

According to Italian government sources, prime minister Matteo Renzi has promised Regeni’s parents that Rome will continue to put pressure on Egypt to establish the full truth behind his death.

Quoted by Italian press, the parents have said they were “injured and bitter” at Egyptian authorities’ latest attempt to explain their son’s death.

Regeni had been researching labour movements in Egypt, a sensitive topic, and had written articles critical of the government under a pen name.

In a statement late on Friday, the Egyptian interior ministry said it was investigating the gang’s links to Regeni’s murder.

“The investigation apparatus is continuing, in coordination with the Italian security team, in its efforts to examine the gang’s links, and the circumstances of the crimes and the areas in which they occurred,” it said.

* Agence France-Presse

if you go

The flights

Etihad, Emirates and Singapore Airlines fly direct from the UAE to Singapore from Dh2,265 return including taxes. The flight takes about 7 hours.

The hotel

Rooms at the M Social Singapore cost from SG $179 (Dh488) per night including taxes.

The tour

Makan Makan Walking group tours costs from SG $90 (Dh245) per person for about three hours. Tailor-made tours can be arranged. For details go to www.woknstroll.com.sg

Pearls on a Branch: Oral Tales
​​​​​​​Najlaa Khoury, Archipelago Books

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.”

Essentials

The flights
Whether you trek after mountain gorillas in Rwanda, Uganda or the Congo, the most convenient international airport is in Rwanda’s capital city, Kigali. There are direct flights from Dubai a couple of days a week with RwandAir. Otherwise, an indirect route is available via Nairobi with Kenya Airways. Flydubai flies to Kinshasa in the Democratic Republic of Congo, via Entebbe in Uganda. Expect to pay from US$350 (Dh1,286) return, including taxes.
The tours
Superb ape-watching tours that take in all three gorilla countries mentioned above are run by Natural World Safaris. In September, the company will be operating a unique Ugandan ape safari guided by well-known primatologist Ben Garrod.
In the Democratic Republic of Congo, local operator Kivu Travel can organise pretty much any kind of safari throughout the Virunga National Park and elsewhere in eastern Congo.

The%20specs
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Kamindu Mendis bio

Full name: Pasqual Handi Kamindu Dilanka Mendis

Born: September 30, 1998

Age: 20 years and 26 days

Nationality: Sri Lankan

Major teams Sri Lanka's Under 19 team

Batting style: Left-hander

Bowling style: Right-arm off-spin and slow left-arm orthodox (that's right!)

Volvo ES90 Specs

Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)

Power: 333hp, 449hp, 680hp

Torque: 480Nm, 670Nm, 870Nm

On sale: Later in 2025 or early 2026, depending on region

Price: Exact regional pricing TBA

A State of Passion

Directors: Carol Mansour and Muna Khalidi

Stars: Dr Ghassan Abu-Sittah

Rating: 4/5