KUWAIT CITY // A Kuwaiti group with ties to the Muslim Brotherhood is trying to overcome government controls to raise money for Libya's opposition, a leading figure in the movement has said.
"We are waiting for the government to tell us we can collect," said Abdullah al Ateeqi, the secretary general of the Social Reform Society (SRC), on Wednesday. The society is a Kuwaiti charity linked to the Islamic Constitutional Movement (ICM), a political group with ideological roots in the Egyptian Muslim Brotherhood.
"In the future we will raise money," Mr al Ateeqi said.
He said the SRC advertised in local newspapers last week to encourage Kuwaitis to support the Libyan opposition "in any way they can", but his organisation was not accepting donations yet.
Nasser al Ammar, the director of the ministry of social affairs and labour's charity and donation organisations department, said no Kuwait charities have received permission to raise money for the Libyan crisis.
"They can't do anything now," Mr al Ammar said. "We need time to study [the proposal] with the ministry of foreign affairs."
Charity collections in Kuwait have been tightly controlled since foreign governments accused some charities of having links with terrorists. In 2008, the United States designated the local Salafi charity, the Revival of Islamic Heritage Society, as an organisation that supports al Qa'eda. The society denies the charge.
Concerns over how cash donations are used have led the ministry of social affairs and labour to impose restrictions on charities during Ramadan.
The restrictions have not stopped Kuwaiti organisations from giving humanitarian support. The Kuwaiti Red Crescent Society has announced that it would donate US$1 million (Dh3.67 million) in response to a plea from the United Nations High Commission for Refugees.
The United Nations has said that up to one million foreign workers and others in Libya will need emergency aid because of the fighting and asked for $160 million to deal with the crisis.
Until now, the SRC has given the Libyan opposition moral, rather than material, support. In the statement on Wednesday, it condemned the "unjust and oppressive" regime for attacking the Libyan people with tanks and aircraft.
"The Organisation of the Islamic Conference and the Arab League should provide the necessary aid including food and medicine," the group's official statement said.
Several prominent Kuwaitis, including members and affiliates of the ICM, displayed their support for the Libyan opposition at a seminar on the outskirts of the city on Wednesday night.
The head of the ICM's media office, Osama al Shaheen, said that unlike in Egypt, the Muslim Brotherhood in Libya has mostly been living in exile because of Muammar Qaddafi's relentless persecution of political opposition during his 41-year rule. Some of them are now fighting with the opposition.
Mr al Shaheen said if the ICM can raise money for Libya, it will be used for humanitarian aid and food.
Falah bin Ghayam, a former parliamentary candidate who is "very close" to the ICM, said the seminar at his residence was not to held to raise money for Libya, but to encourage other organisations such as the Red Crescent to do so.
The speakers included ICM activists, liberals, and civil society leaders. Mr al Ghayam said the seminar was the first public show of solidarity with the Libyan opposition in Kuwait.
Sulaiman al Hammasi, a Libyan academic who has been living in exile for the past 30 years, said the ICM are sympathising with the opposition movements in Tunisia, Egypt and Libya "because they want these people to live in a free country".
jcalderwood@thenational.ae
Game Changer
Director: Shankar
Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram
Rating: 2/5
TOURNAMENT INFO
Fixtures
Sunday January 5 - Oman v UAE
Monday January 6 - UAE v Namibia
Wednesday January 8 - Oman v Namibia
Thursday January 9 - Oman v UAE
Saturday January 11 - UAE v Namibia
Sunday January 12 – Oman v Namibia
UAE squad
Ahmed Raza (captain), Rohan Mustafa, Mohammed Usman, CP Rizwan, Waheed Ahmed, Zawar Farid, Darius D’Silva, Karthik Meiyappan, Jonathan Figy, Vriitya Aravind, Zahoor Khan, Junaid Siddique, Basil Hameed, Chirag Suri
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Squid Game season two
Director: Hwang Dong-hyuk
Stars: Lee Jung-jae, Wi Ha-joon and Lee Byung-hun
Rating: 4.5/5
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
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The specs
Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now
How to join and use Abu Dhabi’s public libraries
• There are six libraries in Abu Dhabi emirate run by the Department of Culture and Tourism, including one in Al Ain and Al Dhafra.
• Libraries are free to visit and visitors can consult books, use online resources and study there. Most are open from 8am to 8pm on weekdays, closed on Fridays and have variable hours on Saturdays, except for Qasr Al Watan which is open from 10am to 8pm every day.
• In order to borrow books, visitors must join the service by providing a passport photograph, Emirates ID and a refundable deposit of Dh400. Members can borrow five books for three weeks, all of which are renewable up to two times online.
• If users do not wish to pay the fee, they can still use the library’s electronic resources for free by simply registering on the website. Once registered, a username and password is provided, allowing remote access.
• For more information visit the library network's website.
UAE currency: the story behind the money in your pockets
The lowdown
Badla
Rating: 2.5/5
Produced by: Red Chillies, Azure Entertainment
Director: Sujoy Ghosh
Cast: Amitabh Bachchan, Taapsee Pannu, Amrita Singh, Tony Luke
Paatal Lok season two
Directors: Avinash Arun, Prosit Roy
Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong
Rating: 4.5/5
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
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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If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Honeymoonish
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