Assassinations of pro-regime officials increasing in Syria crisis



BEIRUT // Nearly 50 people were killed yesterday in violence across Syria, including 34 civilians who died during an assault on a village, the Syrian Observatory for Human Rights said.

Syrian regime forces shot at and rained shells on the village of Souran in the central Hama province, it said.

Describing the deaths as a “massacre”, the group urged UN truce observers to deploy immediately in the area.

“Thirty-four people were killed under shelling and gunfire in Souran village while it was being raided,” the Britain-based watchdog said, revising its earlier reported death toll of 16 people, including three children.

“We in the Observatory express our extreme shock at the international monitors’ failure to go to Souran when we issued our first statement on the killing 16 people,” it added.

Elsewhere in the country, another 14 people were killed, the watchdog said, adding that anti-regime demonstrations were held in several areas of Syria yesterday.

The dead included a civilian killed by gunfire from regime forces who raided the village of Hasraya in Hama, one killed in Homs and two others in northern Aleppo, the Observatory said.

In Basra Al Sham city of southern Deraa province, an army defector was killed in an overnight ambush by regime forces, the group said.

In Jisr Al Shughur in north-west Idlib, armed men assassinated a Baath party official, the monitor said, amid a marked increase of assassinations targeting people associated with the regime.

"There is definitely an increase in assassinations targeting people associated with the regime, be they officials or pro-regime businessmen," Observatory head Rami Abdel Rahman said in Beirut by telephone.

In Idlib city, a defector was killed during clashes with regime forces.

Meanwhile in Douma, a northern suburb of Damascus, a civilian was killed by sniper fire just after a group of UN truce monitors had visited the area, according to the Observatory.

It also reported demonstrations in several areas of north-west Idlib and in Hama calling for the end of President Bashar Al Assad's regime.

In Deraa province, demonstrations were also held calling for the release of activist and citizen journalist Mohammed Al Hariri, who according to Reporters Without Borders (RSF) has been sentenced to death for "high treason".

Mr Hariri was arrested on April 16, RSF said, after he gave an interview to Qatar-based, pan-Arab television channel Al Jazeera from his home in Deraa.

The latest demonstrations took place after fierce fighting between regime troops and armed rebels rocked parts of the Syrian capital Damascus overnight, the Observatory said.

"Violent clashes broke out between rebel fighters and regime troops at a checkpoint in Kafr Sousa district," it added.

The Local Coordination Committees, an anti-regime network of activists on the ground in Syria, said that after the fighting, Kafr Sousa in the south of the capital saw the "arrival of huge reinforcements" of regime troops.

Clashes also broke out in others parts of southern Damascus, the Observatory said, adding that gunfire had during the night echoed across the city centre.

On Saturday, 23 people were killed in violence across Syria.

More than 12,000 people, the majority of them civilians, have died in Syria since an anti-regime revolt broke out in March 2011, according to the monitoring group.

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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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Under the UK government’s proposals, migrants will have to spend 10 years in the UK before being able to apply for citizenship.

Skilled worker visas will require a university degree, and there will be tighter restrictions on recruitment for jobs with skills shortages.

But what are described as "high-contributing" individuals such as doctors and nurses could be fast-tracked through the system.

Language requirements will be increased for all immigration routes to ensure a higher level of English.

Rules will also be laid out for adult dependants, meaning they will have to demonstrate a basic understanding of the language.

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