A British coroner said the death of a Russian whistleblower was not a hit ordered by President Vladimir Putin. AP
A British coroner said the death of a Russian whistleblower was not a hit ordered by President Vladimir Putin. AP
A British coroner said the death of a Russian whistleblower was not a hit ordered by President Vladimir Putin. AP
A British coroner said the death of a Russian whistleblower was not a hit ordered by President Vladimir Putin. AP

Putin confirms Skripal poisoning suspects are Russia citizens


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Russia's President Vladimir Putin says the country knows the real identity of the two men accused of poisoning former Russian spy Sergei Skripal and his daughter Yulia in Britain, but insists there is "nothing criminal" about them.

One of the men wanted by British authorities says he will comment on the case next week, breaking his silence for the first time, Russia state TV said on Wednesday.

At a press conference, Mr Putin acknowledged for the first time that the two men British prosecutors named last week in relation to the incident were Russian citizens, but denied they were working on behalf of the state.

Two Russians, operating under the aliases of Alexander Petrov and Ruslan Boshirov, were accused by British prosecutors of attempting to murder the Skripals with a military-grade nerve agent in Salisbury, England, under orders from high up in the Russian state.

"We of course checked who these people are. We know who they are, we found them. Well, I hope they will come out themselves and speak about themselves. It will be better for everyone," Mr Putin told an economic forum in Russia.

"There is nothing special there, nothing criminal, I assure you. We'll see in the near future.

"They are civilians of course. I would like to appeal to them so that they hear us today. They will come somewhere, to you, the mass media ..."

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Read more:

Novichok poisoning: Russian 'spies' named as suspects in Skripal attack

Chemical weapons watchdog confirms Novichok killed Dawn Sturgess

US to impose sanctions on Russia over nerve agent attack

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The British government said Mr Putin is ultimately responsible for the attack, but the Kremlin has repeatedly denied any involvement.

The incident led to the expulsion of Russian diplomats from British allies around the world. Reacting to Mr Putin's comments, Britain accused Russia of "obfuscation and lies" over the poisoning.

"We have repeatedly asked Russia to account for what happened in Salisbury in March, and they have replied with obfuscation and lies," Prime Minister Theresa May's spokesman told reporters.

Mr Skripal – a former colonel in Russian military intelligence who betrayed dozens of agents to Britain's MI6 foreign intelligence service – and his daughter were found slumped unconscious on a bench in the English city of Salisbury in March. They spent weeks in hospital before recovering and being discharged.

Then on June 30, a woman living near Salisbury, Dawn Sturgess, and her partner Charlie Rowley became ill after he found a counterfeit bottle of Nina Ricci perfume containing Novichok and brought it home. Sturgess died just over a week later.

Sole survivors
  • Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
  • George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
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  • Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
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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.”