Uri Brodsky, who allegedly assisted in the murder of a Hamas official in Dubai, arrives at a Warsaw court on August 5.
Uri Brodsky, who allegedly assisted in the murder of a Hamas official in Dubai, arrives at a Warsaw court on August 5.

Germany 'forced' to release Brodsky



BERLIN // German authorities insisted yesterday that they had no choice but to release the only suspect arrested so far in the Mahmoud al Mabhouh murder case, and denied that they had been subjected to any political pressure in their decision.

Uri Brodsky, the suspected Mossad agent accused of helping to obtain a German passport for one of the assassins, was released on bail on Friday, days after he had been extradited from Poland. German justice authorities said they had wanted to charge Mr Brodsky on two counts - working for a foreign intelligence service and fraudulently obtaining documents. But the Warsaw court had stipulated that he could only be extradited to Germany if he were prosecuted on the latter charge, which carries a fine only.

Mr Brodsky had been arrested on June 4 on a Europe-wide arrest warrant filed by German federal prosecutors. The document fraud charges were issued in Cologne. "We only had the narrow scope to prosecute him for the document crime, we weren't allowed to use anything else against him," Rainer Wolf, the Cologne prosecutor who handled the case, said. "The Polish justice system doesn't allow the extradition of people for crimes that have a political background. That reduced any prospective sentence, especially if you factor in his time in custody since June 4."

Mr Wolf said Mr Brodsky, who arrived in Israel on Saturday night, could not be forced to return to stand trial in Germany. His presence may not even be necessary because the bail paid was big enough to cover any fine, and the case may be continued in abstentia, Mr Wolf said. "The other charge of intelligence activity will continue to be pursued but not by the Cologne prosecutor's office," he said. "That is up to the federal prosecutor's office. They couldn't do anything because the Poles in effect forbade it."

German prosecutors allege that Mr Brodsky helped one of the suspected assassins to obtain a German passport at a Cologne registry office in the name of Michael Bodenheimer. That passport was used by one of the more than 20 members of the hit squad that allegedly drugged and strangled the senior Hamas leader in his Dubai hotel room in January. The German federal prosecutor's office said Mr Brodsky was "under urgent suspicion of cooperating in obtaining the passport in Germany".

While Mr Brodsky owes his freedom in part to the complex machinations of the European justice system, it will be difficult for Berlin and Warsaw to allay suspicions abroad that political pressure played a part. But Mr Wolf said he and the Cologne court had agreed that Mr Brodsky be released and that no outside influence had been brought to bear on him. "I can say with a clear conscience that I would resist any influence. I'm an independent prosecutor and no one influenced me," he said.

The German foreign ministry dedclined to comment on the Cologne court's decision. "In the Brodsky case the decision taken by the German court responsible was independent and taken purely in accordance with judicial criteria," a ministry spokesman said. "The federal government won't comment on this independent court decision." The spokesman added: "Germany remains determined to contribute to the investigation of the al Mabhouh case."

The federal prosecutor's office could not be reached for comment. Israeli officials had been pushing for Mr Brodsky's release, and the case was causing diplomatic tensions between Israel and its two close allies Germany and Poland. Friday's ruling by a court in Cologne and Mr Brodsky's subsequent swift return to Israel is embarrassing for the German government, which had joined international calls in February for a thorough investigation into the suspected Mossad hit on the Hamas leader in Dubai.

Meanwhile, the EU arrest warrant against Mr Brodsky remains in force. That means that if he were to return to Germany or any other EU nation, he could be arrested again on the charge of intelligence activity, because the confines of the Polish extradition ruling would no longer apply, said Mr Wolf. The agents' use of non-Israeli passports, including a German one, to enter Dubai for the killing led to a chorus of criticism of Israel around the world, although Germany's reaction was noticeably more restrained. Berlin refrained, for example, from summoning the Israeli ambassador to protest.

In Germany, unwavering support for Israel is a firm part of state doctrine because of the Holocaust. Politicians from mainstream parties are wary of criticising Israel for fear this may be construed as anti-Semitism. A report in Der Spiegel, a German news magazine, said the Mossad had tapped into the German sense of guilt to help it obtain the passport, and that this ploy in particular had angered the German authorities.

Allegedly helped by Mr Brodsky, the man calling himself Michael Bodenheimer had told the Cologne registry office that his father, Hans, had emigrated to Israel to escape Nazi persecution, Der Spiegel reported in June. In such cases, the German constitution makes it easy for descendants to gain citizenship. The man calling himself Bodenheimer promptly received his German papers on June 18 2009. foreign.desk@thenational.ae

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.”

23-man shortlist for next six Hall of Fame inductees

Tony Adams, David Beckham, Dennis Bergkamp, Sol Campbell, Eric Cantona, Andrew Cole, Ashley Cole, Didier Drogba, Les Ferdinand, Rio Ferdinand, Robbie Fowler, Steven Gerrard, Roy Keane, Frank Lampard, Matt Le Tissier, Michael Owen, Peter Schmeichel, Paul Scholes, John Terry, Robin van Persie, Nemanja Vidic, Patrick Viera, Ian Wright.

How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

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Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
Rating: 2/5
 
Business Insights
  • As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses. 
  • SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income. 
  • Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
From Zero

Artist: Linkin Park

Label: Warner Records

Number of tracks: 11

Rating: 4/5

Disclaimer

Director: Alfonso Cuaron 

Stars: Cate Blanchett, Kevin Kline, Lesley Manville 

Rating: 4/5

If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.

When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.

How to get there: Emirates currently flies from Dubai to Orlando five times a week.
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THE SPECS

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Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon

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Engine: Dual 180kW and 300kW front and rear motors

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Nayanthara: Beyond The Fairy Tale

Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni

Director: Amith Krishnan

Rating: 3.5/5

ESSENTIALS

The flights 
Fly Etihad or Emirates from the UAE to Moscow from 2,763 return per person return including taxes. 
Where to stay 
Trips on the Golden Eagle Trans-Siberian cost from US$16,995 (Dh62,414) per person, based on two sharing.

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Electoral College Victory

Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate. 

 

Popular Vote Tally

The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.

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Ziina users can donate to relief efforts in Beirut

Ziina users will be able to use the app to help relief efforts in Beirut, which has been left reeling after an August blast caused an estimated $15 billion in damage and left thousands homeless. Ziina has partnered with the United Nations High Commissioner for Refugees to raise money for the Lebanese capital, co-founder Faisal Toukan says. “As of October 1, the UNHCR has the first certified badge on Ziina and is automatically part of user's top friends' list during this campaign. Users can now donate any amount to the Beirut relief with two clicks. The money raised will go towards rebuilding houses for the families that were impacted by the explosion.”

Business Insights
  • Canada and Mexico are significant energy suppliers to the US, providing the majority of oil and natural gas imports
  • The introduction of tariffs could hinder the US's clean energy initiatives by raising input costs for materials like nickel
  • US domestic suppliers might benefit from higher prices, but overall oil consumption is expected to decrease due to elevated costs
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Director: Jon M Chu
Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey
Rating: 4/5
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Place of birth: Kalba

Family: Mother of eight children and has 10 grandchildren

Favourite traditional dish: Al Harees, a slow cooked porridge-like dish made from boiled cracked or coarsely ground wheat mixed with meat or chicken

Favourite book: My early life by Sheikh Dr Sultan bin Muhammad Al Qasimi, the Ruler of Sharjah

Favourite quote: By Sheikh Zayed, the UAE's Founding Father, “Those who have no past will have no present or future.”

Call of Duty: Black Ops 6

Developer: Treyarch, Raven Software
Publisher:  Activision
Console: PlayStation 4 & 5, Windows, Xbox One & Series X/S
Rating: 3.5/5

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