Golhak Garden, a 200,000-square-metre compound in northern Tehran, has long been at the centre of rows between Iran and Britain.
Golhak Garden, a 200,000-square-metre compound in northern Tehran, has long been at the centre of rows between Iran and Britain.

Iran fines British embassy for 'environmental vandalism' in Tehran compound



A sprawling British diplomatic compound in an upmarket north Tehran suburb is usually an oasis of green tranquillity in the midst of Iran's teeming and polluted capital.

Parrots flutter between towering plane trees and foxes frolic on the landscaped lawns where British envoys sip tea in the hot summer months under the shadow of the snow-dusted Alborz Mountains.

But the Gulhak Garden, as the 200,000-square-metre site is known, is now at the centre of a row between London and Tehran which threatens to further strain relations that have long been tense. Nor are the gardens so verdant today.

The compound's British "occupiers" have been accused of environmental vandalism after they allegedly cut down and burnt more than 300 trees. Tehran municipality officials said this week they have slapped the British embassy with a US$1.23 million (Dh4.5m) fine for the "crime".

Britain insists no healthy trees were felled. But it had to remove a "small number" that died of "natural causes and become dangerously unstable" after the compound's water supply was disrupted by the extension of the Tehran Metro nearly three years ago.

The embassy has been working with the Iranian authorities, including the Tehran Municipality, "to re-establish a water supply as a matter of urgency to ensure that any environmental damage is kept to a minimum", a spokesperson for the British Foreign and Commonwealth Office (FCO) said.

Even so, Tehran's mayor, Mohammad Bagher Qalibaf, announced at the end of last month that he is going to court in an attempt to reclaim the Gulhak compound. He insists the British embassy has no legal right to the prime real estate.

The compound, bordered by high walls, is home to a cemetery with the graves of more than 500 British and Commonwealth soldiers killed in the two world wars. Several British diplomats and some Iranian embassy staff are housed in the Gulhak complex, although ambassadors for decades have lived several miles away at the historic British embassy on Ferdowsi Avenue in central Tehran.

Observers suspect Mr Qalibaf may be using the Gulhak issue to boost his profile ahead of the 2013 presidential election, which he is due to contest. Baiting a former imperial power that the regime derides as the "Little Satan" could appeal to many.

"The role of the British Government in trying to destroy our national unity and territorial integrity is known to everyone," the mayor said.

Many Iranians are suspicious of Britain because it meddled in Iran in the 19th and 20th centuries. According to an old Iranian proverb, "If you trip over a pebble, you can be sure it was put there by a Briton".

Iran still views Britain as a great power with global reach.

That flattering perception will be little consolation to Dominic Chilcott, Britain's new ambassador to Tehran, who took up his post

last month.

William Hague, the British foreign secretary, last week refused to rule out military action against Iran in the long term if there is no progress in Tehran's cooperation with the UN's nuclear watchdog. In turn, Ali Larijani, Iran's speaker of parliament, ordered the chamber's Foreign Policy and National Security Committee to consider a motion to downgrade relations with Britain.

The row over the Gulhak compound is adding to the friction. The land was given to Britain at the height of its imperial power by the Qajar monarchy in the 19th century for use as a summer residence for the British ambassador. Gulhak was then a small village, well outside the capital.

Demonstrating against the tree felling earlier this month, Iranian protesters carried placards reading: "There is no place for the old fox of colonialism in the Gulhak Garden" and "Death to Britain."

A conservative lawmaker, Seyed Hossein Naqavi, alleged on Wednesday that papers held by the British embassy to prove its ownership "have been forged".

The Iranian authorities last made an attempt to reclaim the Gulhak compound five years ago when 162 MPs demanded its return so that it could be turned into an anti-colonial museum. Iranian media reported that an ensuing investigation found the compound belonged "completely" to Iran while Iranian officials at the time said they would grant Britain ownership in exchange for Hyde Park in London. Britain, unsurprisingly, ignored the offer.

Its two diplomatic compounds in Iran have borne the brunt of periodic anti-Western demonstrations since the embassy of the "Great Satan" America became defunct 31 years ago. The US embassy, dubbed the "nest of spies", was turned into an anti-American museum and also houses a detachment of Revolutionary Guards.

The Israeli embassy was handed over to the Palestine Liberation Organisation after Iran's 1979 Islamic revolution.

During Israel's military operation against Gaza in 2008, hundreds of Iranians stormed into the Gulhak complex where they replaced the Union Jack with the Palestinian flag.

Britain has not been notified of any fine over the tree-cutting and has only heard about a possible legal challenge to Gulhak's ownership from Iranian media reports. But, its foreign office spokesperson said Thursday: "Based on previous court documents, we are confident that we legally own the site."

mtheodoulou@thenational.ae

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Rating: 4/5

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 OF INVYGO

Started: 2018

Founders: Eslam Hussein and Pulkit Ganjoo

Based: Dubai

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Investment: $1,275,000

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

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Nepotism is the name of the game

Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad. 

COMPANY PROFILE

Name: SmartCrowd
Started: 2018
Founder: Siddiq Farid and Musfique Ahmed
Based: Dubai
Sector: FinTech / PropTech
Initial investment: $650,000
Current number of staff: 35
Investment stage: Series A
Investors: Various institutional investors and notable angel investors (500 MENA, Shurooq, Mada, Seedstar, Tricap)

Kill

Director: Nikhil Nagesh Bhat

Starring: Lakshya, Tanya Maniktala, Ashish Vidyarthi, Harsh Chhaya, Raghav Juyal

Rating: 4.5/5

Normcore explained

Something of a fashion anomaly, normcore is essentially a celebration of the unremarkable. The term was first popularised by an article in New York magazine in 2014 and has been dubbed “ugly”, “bland’ and "anti-style" by fashion writers. It’s hallmarks are comfort, a lack of pretentiousness and neutrality – it is a trend for those who would rather not stand out from the crowd. For the most part, the style is unisex, favouring loose silhouettes, thrift-shop threads, baseball caps and boyish trainers. It is important to note that normcore is not synonymous with cheapness or low quality; there are high-fashion brands, including Parisian label Vetements, that specialise in this style. Embraced by fashion-forward street-style stars around the globe, it’s uptake in the UAE has been relatively slow.

COMPANY PROFILE

Name: Xpanceo

Started: 2018

Founders: Roman Axelrod, Valentyn Volkov

Based: Dubai, UAE

Industry: Smart contact lenses, augmented/virtual reality

Funding: $40 million

Investor: Opportunity Venture (Asia)

Company Profile

Name: HyveGeo
Started: 2023
Founders: Abdulaziz bin Redha, Dr Samsurin Welch, Eva Morales and Dr Harjit Singh
Based: Cambridge and Dubai
Number of employees: 8
Industry: Sustainability & Environment
Funding: $200,000 plus undisclosed grant
Investors: Venture capital and government

Dr Amal Khalid Alias revealed a recent case of a woman with daughters, who specifically wanted a boy.

A semen analysis of the father showed abnormal sperm so the couple required IVF.

Out of 21 eggs collected, six were unused leaving 15 suitable for IVF.

A specific procedure was used, called intracytoplasmic sperm injection where a single sperm cell is inserted into the egg.

On day three of the process, 14 embryos were biopsied for gender selection.

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Day five of the treatment saw two male embryos transferred to the patient.

The woman recorded a positive pregnancy test two weeks later. 

Credits

Produced by: Colour Yellow Productions and Eros Now
Director: Mudassar Aziz
Cast: Sonakshi Sinha, Jimmy Sheirgill, Jassi Gill, Piyush Mishra, Diana Penty, Aparshakti Khurrana
Star rating: 2.5/5

What is an FTO Designation?

FTO designations impose immigration restrictions on members of the organisation simply by virtue of their membership and triggers a criminal prohibition on knowingly providing material support or resources to the designated organisation as well as asset freezes. 

It is a crime for a person in the United States or subject to the jurisdiction of the United States to knowingly provide “material support or resources” to or receive military-type training from or on behalf of a designated FTO.

Representatives and members of a designated FTO, if they are aliens, are inadmissible to and, in certain circumstances removable from, the United States.

Except as authorised by the Secretary of the Treasury, any US financial institution that becomes aware that it has possession of or control over funds in which an FTO or its agent has an interest must retain possession of or control over the funds and report the funds to the Treasury Department.

Source: US Department of State

WEST ASIA RUGBY 2017/18 SEASON ROLL OF HONOUR

Western Clubs Champions League
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UAE Premiership
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Company name: Ogram
Started: 2017
Founders: Karim Kouatly and Shafiq Khartabil
Based: Dubai, UAE
Industry: On-demand staffing
Number of employees: 50
Funding: More than $4 million
Funding round: Series A
Investors: Global Ventures, Aditum and Oraseya Capital

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Company name: Cargoz
Date started: January 2022
Founders: Premlal Pullisserry and Lijo Antony
Based: Dubai
Number of staff: 30
Investment stage: Seed