Iran is looking to develop weapons of mass destruction and source materials from Europe, a German intelligence report said.
Tehran denies it wants a nuclear weapon and is attending talks in Vienna aimed at restoring the limits on its nuclear activity that it agreed to in 2015.
But the report by Bavaria’s Office for the Protection of the Constitution names Iran as one of several countries, along with North Korea and Syria, seeking to develop a stock of destructive weapons.
They are “endeavouring to expand their conventional weapons arsenals through the production, or constant modernisation, of weapons of mass destruction,” the report said.
“In order to obtain the necessary know-how and materials, these states are trying to forge contacts with businesses in high-tech countries such as Germany.”
The report said the states tried to evade German export controls by setting up fake companies, sending goods via third countries or duping German firms to conceal their activities.
The 380-page document also said that Iran’s intelligence services remained active in Germany even after they were implicated in a bomb plot in Europe foiled by German authorities.
The Ministry of Intelligence of the Islamic Republic of Iran (MOIS), the Revolutionary Guard Corps Intelligence Organisation and the Guards’ elite Quds Force were named on a list of foreign spies active in Germany.
An MOIS operative was identified as the plotter behind a thwarted bomb attack on an Iranian opposition rally in Paris in 2018.
Guests at the event included former New York City mayor Rudy Giuliani and several British MPs.
The plotter, Assadollah Assadi, was arrested in Germany and transferred to Belgium, where police found explosives in a car.
Belgian security officials later identified him as an Iranian intelligence official who operated undercover at Tehran's embassy in Austria. He was believed to work for the ministry's so-called Department 312, a directorate for internal security, which is on an EU terrorism list.
The investigation found that Assadi had carried explosives to Austria on a commercial flight from Iran and later handed them over to other plotters during a meeting at a Pizza Hut restaurant in Luxembourg.
Germany and Iran walk diplomatic tightrope in nuclear talks
The report said Iran’s reconnaissance work in Germany was aimed especially at Jewish and Israeli groups and their supporters.
“Germany remains a focus of the intelligence services’ reconnaissance work,” it said.
Germany is one of the signatories to the 2015 nuclear deal between world powers and Iran, which diplomats are trying to revive in Vienna.
Under the deal, sanctions were lifted on Iran in exchange for limits on Tehran’s nuclear activity, which were designed to prevent it from developing an atomic bomb.
But sanctions returned after former US president Donald Trump pulled the US out of the deal in 2018 and Iran subsequently started breaching the limits under the pact.
Iran this month began enriching uranium to 60 per cent, well above its 3.67 per cent limit.
A purity of around 90 per cent would be needed for a nuclear bomb, although Iran insists it is not seeking one.
Joe Biden’s administration wants to restore Iran’s compliance with the pact, while Iran demands that all sanctions must be lifted first.
Talks between Iran and the remaining parties to the deal – Britain, France, Germany, Russia and China – began in Vienna this month.
They resumed on Tuesday with European diplomats once again poised to shuttle between the Iranians and a US delegation based at a separate hotel.
Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
RESULTS
Welterweight
Tohir Zhuraev (TJK) beat Mostafa Radi (PAL)
(Unanimous points decision)
Catchweight 75kg
Anas Siraj Mounir (MAR) beat Leandro Martins (BRA)
(Second round knockout)
Flyweight (female)
Manon Fiorot (FRA) beat Corinne Laframboise (CAN)
(RSC in third round)
Featherweight
Bogdan Kirilenko (UZB) beat Ahmed Al Darmaki
(Disqualification)
Lightweight
Izzedine Al Derabani (JOR) beat Rey Nacionales (PHI)
(Unanimous points)
Featherweight
Yousef Al Housani (UAE) beat Mohamed Fargan (IND)
(TKO first round)
Catchweight 69kg
Jung Han-gook (KOR) beat Max Lima (BRA)
(First round submission by foot-lock)
Catchweight 71kg
Usman Nurmogamedov (RUS) beat Jerry Kvarnstrom (FIN)
(TKO round 1).
Featherweight title (5 rounds)
Lee Do-gyeom (KOR) v Alexandru Chitoran (ROU)
(TKO round 1).
Lightweight title (5 rounds)
Bruno Machado (BRA) beat Mike Santiago (USA)
(RSC round 2).
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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2016: Feud begins after Khan criticised Trump’s proposed Muslim travel ban to US
2017: Trump criticises Khan’s ‘no reason to be alarmed’ response to London Bridge terror attacks
2019: Trump calls Khan a “stone cold loser” before first state visit
2019: Trump tweets about “Khan’s Londonistan”, calling him “a national disgrace”
2022: Khan’s office attributes rise in Islamophobic abuse against the major to hostility stoked during Trump’s presidency
July 2025 During a golfing trip to Scotland, Trump calls Khan “a nasty person”
Sept 2025 Trump blames Khan for London’s “stabbings and the dirt and the filth”.
Dec 2025 Trump suggests migrants got Khan elected, calls him a “horrible, vicious, disgusting mayor”
What is a Ponzi scheme?
A fraudulent investment operation where the scammer provides fake reports and generates returns for old investors through money paid by new investors, rather than through ligitimate business activities.
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Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.