A file photo showing members of ISIS including military leader and Georgian native, Abu Omar Al Shishani, centre, speaking at an unknown location between the Iraqi Nineveh province and the Syrian town of Al Hasakah. AFP
A file photo showing members of ISIS including military leader and Georgian native, Abu Omar Al Shishani, centre, speaking at an unknown location between the Iraqi Nineveh province and the Syrian town of Al Hasakah. AFP
A file photo showing members of ISIS including military leader and Georgian native, Abu Omar Al Shishani, centre, speaking at an unknown location between the Iraqi Nineveh province and the Syrian town of Al Hasakah. AFP
A file photo showing members of ISIS including military leader and Georgian native, Abu Omar Al Shishani, centre, speaking at an unknown location between the Iraqi Nineveh province and the Syrian town

Ukraine says it has detained deputy to slain ISIS official


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Ukraine's security service said on Friday it had detained the deputy of Abu Omar al-Shishani, the man the Pentagon described as Islamic State's "minister of war", after he crossed into Ukraine on a fake passport last year.

The SBU security service said it had taken into custody Al Bara Shishani, a Georgian citizen, in a joint operation with Georgia's Interior Ministry and the US Central Intelligence Agency (CIA).

An SBU statement said an examination of a photograph of Al Bara Shishani in the agency's possession "proved that the detained foreigner is indeed a wanted leader of Islamic State".

Georgia's state security service confirmed Al Bara Shishani was being held in Ukraine. "Yes, we can confirm this fact ... His (birth) name is Cezar Tokhosashvili," said Vika Klimicheva, a spokeswoman for the state security service.

He joined ISIS in 2015 and was the deputy to Abu Omar al-Shishani, who was killed in combat in 2016 and ranked among America's most wanted militants under a US programme that offered up to $5 million for information to help remove him from the battlefield.

Both men were born in Georgia's mountainous Pankisi gorge region.

After his death, Al Bara Shishani crossed into Turkey and later Ukraine where he continued to coordinate the activities of ISIS, the SBU statement said.

He was detained in the Kiev region near a private home where he resided, it added, without giving the date of the arrest.

According to Rami Abdel Rahman, the head of the Britain-based Syrian Observatory for Human Rights war monitor, Al Bara Shishani was not however a high-ranking ISIS figure but "a simple fighter".

The Georgian security service gave his real name as Cezar Tokhosashvili and said he was wanted as "a member of a terrorist organisation".

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Company Profile

Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million

Griselda
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ARGENTINA SQUAD

Goalkeepers: Franco Armani, Agustin Marchesin, Esteban Andrada
Defenders: Juan Foyth, Nicolas Otamendi, German Pezzella, Nicolas Tagliafico, Ramiro Funes Mori, Renzo Saravia, Marcos Acuna, Milton Casco
Midfielders: Leandro Paredes, Guido Rodriguez, Giovani Lo Celso, Exequiel Palacios, Roberto Pereyra, Rodrigo De Paul, Angel Di Maria
Forwards: Lionel Messi, Sergio Aguero, Lautaro Martinez, Paulo Dybala, Matias Suarez

SPECS
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PROFILE OF INVYGO

Started: 2018

Founders: Eslam Hussein and Pulkit Ganjoo

Based: Dubai

Sector: Transport

Size: 9 employees

Investment: $1,275,000

Investors: Class 5 Global, Equitrust, Gulf Islamic Investments, Kairos K50 and William Zeqiri

WHAT IS A BLACK HOLE?

1. Black holes are objects whose gravity is so strong not even light can escape their pull

2. They can be created when massive stars collapse under their own weight

3. Large black holes can also be formed when smaller ones collide and merge

4. The biggest black holes lurk at the centre of many galaxies, including our own

5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed

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!)

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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While you're here
Joker: Folie a Deux

Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson

Director: Todd Phillips 

Rating: 2/5