BEIRUT // An internet video posted online Tuesday purported to show the beheading of US journalist Steven Sotloff by the Islamic State in Iraq and the Levant group, which called it retribution for continued US airstrikes in Iraq.
Sotloff, 31, who freelanced for Time and Foreign Policy magazines, had last been seen in Syria in August 2013 until he appeared in a video released online last month by ISIL that showed the beheading of fellow US journalist James Foley.
Dressed in an orange jumpsuit against the backdrop of an arid Syrian landscape, Sotloff was threatened in that video with death unless the US stopped airstrikes on the group in Iraq.
In the video distributed Tuesday and entitled “A Second Message to America,” Sotloff appears in a similar jumpsuit before he was purportedly beheaded by an ISIL fighter.
The SITE Intelligence Group, a US terrorism watchdog, first reported about the video’s existence. Unlike Foley’s beheading, which was widely shared on Twitter accounts affiliated with the Islamic State group, the video purporting to show Sotloff’s killing was not immediately posted online, though several Islamist militant websites told users to expect it Tuesday.
The fighter who beheads Sotloff in the video called it retribution for US president Barack Obama’s continued airstrikes against the group in Iraq.
“I’m back, Obama, and I’m back because of your arrogant foreign policy towards the Islamic State ... despite our serious warnings,” the fighter said. “So just as your missiles continue to strike our people, our knife will continue to strike the necks of your people.”
At the end of the video, he threatened to kill a third captive, a Briton, David Cawthorne Haines. It was not immediately clear who Mr Haines was.
Sotloff’s mother had pleaded for his release last week in a video directed at the ISIL group.
Addressing the leader of the ISIL group by name, Shirley Sotloff said in a video her son was “an innocent journalist” who shouldn’t pay for US government actions in the Middle East over which he has no control.
White House press secretary Josh Earnest said he wasn’t in a position to confirm its authenticity.
“This is something that the administration has obviously been watching very carefully,” Mr Earnest said. “Our thoughts and prayers first and foremost are with Mr Sotloff and Mr Sotloff’s family and those who worked with him.”
A man who answered a phone listed in the name of Sotloff’s sister hung up when called.
The ISIL group which has taken over a third of Syria and Iraq has terrorised rivals and civilians alike with widely publicised brutality as it seeks to expand a proto-state it has carved out on both sides of the border.
In its rise to prominence over the past year, the extremist group has frequently published graphic photos and gruesome videos of everything from bombings and beheadings to mass killings.
British prime minister David Cameron on Tuesday condemned the video of Sotloff’s death and the threat to Mr Haines as “disgusting”.
He said it was an “absolutely disgusting, despicable act”.
* Associated Press and Agence France-Presse
The%20specs%3A%202024%20Mercedes%20E200
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2.0-litre%20four-cyl%20turbo%20%2B%20mild%20hybrid%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E204hp%20at%205%2C800rpm%20%2B23hp%20hybrid%20boost%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E320Nm%20at%201%2C800rpm%20%2B205Nm%20hybrid%20boost%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E9-speed%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%20%3C%2Fstrong%3E7.3L%2F100km%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENovember%2FDecember%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh205%2C000%20(estimate)%3C%2Fp%3E%0A
Three ways to boost your credit score
Marwan Lutfi says the core fundamentals that drive better payment behaviour and can improve your credit score are:
1. Make sure you make your payments on time;
2. Limit the number of products you borrow on: the more loans and credit cards you have, the more it will affect your credit score;
3. Don't max out all your debts: how much you maximise those credit facilities will have an impact. If you have five credit cards and utilise 90 per cent of that credit, it will negatively affect your score.
The Details
Kabir Singh
Produced by: Cinestaan Studios, T-Series
Directed by: Sandeep Reddy Vanga
Starring: Shahid Kapoor, Kiara Advani, Suresh Oberoi, Soham Majumdar, Arjun Pahwa
Rating: 2.5/5
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.”
Profile
Company name: Jaib
Started: January 2018
Co-founders: Fouad Jeryes and Sinan Taifour
Based: Jordan
Sector: FinTech
Total transactions: over $800,000 since January, 2018
Investors in Jaib's mother company Alpha Apps: Aramex and 500 Startups
The Breadwinner
Director: Nora Twomey
Starring: Saara Chaudry, Soma Chhaya, Laara Sadiq
Three stars
Day 5, Abu Dhabi Test: At a glance
Moment of the day When Dilruwan Perera dismissed Yasir Shah to end Pakistan’s limp resistance, the Sri Lankans charged around the field with the fevered delirium of a side not used to winning. Trouble was, they had not. The delivery was deemed a no ball. Sri Lanka had a nervy wait, but it was merely a stay of execution for the beleaguered hosts.
Stat of the day – 5 Pakistan have lost all 10 wickets on the fifth day of a Test five times since the start of 2016. It is an alarming departure for a side who had apparently erased regular collapses from their resume. “The only thing I can say, it’s not a mitigating excuse at all, but that’s a young batting line up, obviously trying to find their way,” said Mickey Arthur, Pakistan’s coach.
The verdict Test matches in the UAE are known for speeding up on the last two days, but this was extreme. The first two innings of this Test took 11 sessions to complete. The remaining two were done in less than four. The nature of Pakistan’s capitulation at the end showed just how difficult the transition is going to be in the post Misbah-ul-Haq era.
