People carry out the covered body of the attacker who allegedly stabbed 10 children at a school in Haikou, Hainan province on February 29, 2016.  Reuters
People carry out the covered body of the attacker who allegedly stabbed 10 children at a school in Haikou, Hainan province on February 29, 2016. Reuters

Knife attacker slashes 10 children at Chinese school



BEIJING // A knife-wielding assailant hacked at children in a Chinese schoolyard on Monday, wounding 10 of them before killing himself.

The incident took place in Haikou, in the southern island province of Hainan, as pupils were lining up to go home at the end of the morning session.

The man struck, slashing at several children before fleeing, the state-run China News Service cited a witness as saying.

A woman passerby saw several students with their faces covered in blood, apparently from head injuries, being bandaged up.

The victims were six boys and four girls, the report said, two of them severely wounded but neither in life-threatening condition.

"I thought my child would be safe at school; I didn't think something like this would happen," the mother of Liu Qiang, told the Nanhai Online news portal at the hospital where her 7-year-old son was being treated.

The assailant was identified as 45-year-old Li Sijun, who later committed suicide, reports said, adding no motive had been determined.

Local police in Haikou said that no children had died.

Violent crime has been on the rise in China in recent decades as the nation’s economy has boomed and the gap between rich and poor has expanded rapidly.

Studies have also described a rise in the prevalence of mental disorders, some of them linked to stress as the pace of life becomes faster and support systems wither.

In 2014, state media reported that a man stabbed three children and a teacher to death and wounded several others in a rampage at a primary school that refused to enrol his daughter.

That followed a March 2013 incident in which a man killed two relatives and then slashed 11 people, including six children, outside a school in China’s commercial hub Shanghai.

The incidents have forced authorities to increase security around schools and led to calls for more research into the root causes of such acts.

* Agence France-Presse

How has net migration to UK changed?

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It then dropped to an estimated 111,000 in the year to June 2020 when restrictions introduced during the pandemic limited travel and movement.

The total rose to 254,000 in the year to June 2021, followed by steep jumps to 634,000 in the year to June 2022 and 906,000 in the year to June 2023.

The latest available figure of 728,000 for the 12 months to June 2024 suggests levels are starting to decrease.

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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.”