France told to negotiate with Bin Laden over hostages


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PARIS // France is studying a message from the leader of al Qa'eda's North Africa branch saying the government should negotiate directly with Osama bin Laden over the fate of five French hostages seized from an African mining town.

In an audio excerpt broadcast on Thursday night by the Al Jazeera news channel, a man identified as Abu Mossab Abdelouadoud said that to ensure the safety of the hostages, French troops must also withdraw from Afghanistan.

"Any negotiations must be done with Osama bin Laden and according to his conditions," said a voice described as that of Abdelouadoud, who is also known as Abdelmalek Droukdel and under other names.

France's foreign ministry is studying the message to verify its authenticity, a ministry official said today.

President Nicolas Sarkozy's office did not immediately respond Friday to the audio message. The government had said previously it was willing to speak to the group's North African wing in order to find a solution to the crisis.

The message gave no details on how bin Laden, who is believed to be hiding in the mountains somewhere along the Afghanistan-Pakistan border, could be contacted.

Bin Laden issued an audio message earlier this month criticising the French for having troops in Afghanistan and banning the face-covering veil.

The message broadcast yesterday repeated the call for the French to withdraw from Afghanistan and cease harming Muslims. France currently has around 3,850 troops stationed in Afghanistan as part of the NATO forces there.

Al Jazeera did not reveal how it came by the audio tape, but in the past it has received messages from affiliates of al Qa'eda around the region.

The French hostages, as well as a Togolese and a Madagascar national, were kidnapped on September 16 while they were sleeping in the uranium mining town of Arlit in Niger. Al Qa'eda in the Islamic Maghreb claimed responsibility for the abductions and is believed to have taken them to neighbouring Mali.

The rules on fostering in the UAE

A foster couple or family must:

  • be Muslim, Emirati and be residing in the UAE
  • not be younger than 25 years old
  • not have been convicted of offences or crimes involving moral turpitude
  • be free of infectious diseases or psychological and mental disorders
  • have the ability to support its members and the foster child financially
  • undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
  • A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
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Dolittle

Director: Stephen Gaghan

Stars: Robert Downey Jr, Michael Sheen

One-and-a-half out of five stars

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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.”

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The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

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

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Info

What: 11th edition of the Mubadala World Tennis Championship

When: December 27-29, 2018

Confirmed: men: Novak Djokovic, Rafael Nadal, Kevin Anderson, Dominic Thiem, Hyeon Chung, Karen Khachanov; women: Venus Williams

Tickets: www.ticketmaster.ae, Virgin megastores or call 800 86 823

World record transfers

1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
4. Cristiano Ronaldo - to Real Madrid in 2009/10 - €94m
5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
6. Neymar - to Barcelona in 2013/14 - €88.2m
7. Romelu Lukaku - to Manchester United in 2017/18 - €84.7m
8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
9. Angel di Maria - to Manchester United in 2014/15 - €75m
10. James Rodriguez - to Real Madrid in 2014/15 - €75m

'Will%20of%20the%20People'
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