American-Iranian journalist Jason Rezaian and his wife Yeganeh Salehi pose for the media in front of the Landstuhl Regional Medical Centre in Landstuhl, Germany, on January 20, 2016. Michael Probst/AP Photo
American-Iranian journalist Jason Rezaian and his wife Yeganeh Salehi pose for the media in front of the Landstuhl Regional Medical Centre in Landstuhl, Germany, on January 20, 2016. Michael Probst/APShow more

Freed journalist Jason Rezaian wants to cover US-Iran story again ‘at some point’



NEW YORK // Jason Rezaian, the Washington Post journalist freed last week along with four other American prisoners held by Iran, said he wants to get back to covering the “US-Iran story at some point”.

For now, however, he will not speak about his ordeal further and devote his time to family.

“I’ve spent a lot of my life writing about the United States and Iran, and I never imagined – and never wanted – to become a part of the story, particularly at such an extraordinary moment,” Rezaian said.

“I want to get back to writing the US-Iran story at some point in the future ... But I won’t be saying anything further for a while. I hope everyone will respect my need for privacy as I take some time for myself and for my family.”

Rezaian issued a written statement on Wednesday from the US military base in Landstuhl, Germany where he and his wife, mother and brother have been staying while he receives treatment for a number of health issues that deteriorated during his year-and-a-half captivity in Tehran’s Evin prison.

“I’m staying with my family at a very comfortable guesthouse on the base, which has been a great place to begin my recovery,” he said.

The release of the four Americans was negotiated in secret by senior US officials and Iranian security officials in parallel to the talks over Tehran’s nuclear programme. Negotiations to free the prisoners nearly broke down a number of times after beginning in late 2014, but gained significant momentum after the signing of the nuclear accord last July.

At the last minute on Sunday, as a Swiss air force jet waited with Rezaian and two other released Americans on the tarmac, Iranian officials refused to allow Rezaian's wife – who was reporting for The National when she was arrested along with her husband – and mother to leave with him. US secretary of state John Kerry had to call his Iranian counterpart, Mohammad Javad Zarif, and tell him "Javad, look, it's part of the agreement," Mr Kerry himself said.

Eventually, they were allowed to leave on the flight.

Rezaian, who is from the San Francisco Bay area said that “for now, I want to catch up with what’s been going on in the world, watch a Warriors game or two, and see the Star Wars movie”.

tkhan@thenational.ae

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BIO

Favourite holiday destination: Turkey - because the government look after animals so well there.

Favourite film: I love scary movies. I have so many favourites but The Ring stands out.

Favourite book: The Lord of the Rings. I didn’t like the movies but I loved the books.

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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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COMPANY PROFILE
Name: Airev
Started: September 2023
Founder: Muhammad Khalid
Based: Abu Dhabi
Sector: Generative AI
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
 
The specs
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