Palestinians with a mural depicting their late leader Yasser Arafat are reflected in a shop window in Gaza City. New suspicions that Arafat was murdered have prompted calls for a medical examination of his remains.
Palestinians with a mural depicting their late leader Yasser Arafat are reflected in a shop window in Gaza City. New suspicions that Arafat was murdered have prompted calls for a medical examination oShow more

Palestinians to exhume 'poisoned' Arafat



RAMALLAH // The Palestinian Authority agreed yesterday to exhume the body of Yasser Arafat after allegations he may have been poisoned with the radioactive element polonium-210 in 2004.

President Mahmoud Abbas said Palestinian authorities would be prepared to order an investigation into the "real causes" of the Palestinian leader's death, said a statement issued by his office.

There are "no religious or political reasons that preclude research on this issue", the statement added.

Scientists at the Switzerland-based Institute de Radiophysique found unusually high traces of polonium-210 on belongings Arafat had used in his last days in a French military hospital in the outskirts of Paris, according to a report by the news organisation, Al Jazeera.

His possessions were examined as part of a nine-month investigation by the institute into the death.

Body fluid on Arafat's underwear contained almost two dozen times the concentration needed to kill a person, according to the Al Jazeera report.

Institute de Radiophysique's director, Francois Bochud, confirmed during the report that researchers had "measured an unexplained, elevated amount of unsupported polonium-210 in the belongings of Mr Arafat that contained stains of biological fluids".

Arafat's widow, Suha, called on authorities to perform a post-mortem following the laboratory test results. She had authorised Al Jazeera to deliver her late husband's belongings to the Swiss scientists for examination, although it is unclear why.

She had until then refused a post-mortem, a move which frustrated Palestinian officials and fuelled rumours about the causes of Arafat's death, ranging from food-poisoning to Aids.

She refused to allow Arafat's advisers to visit him before his death because they planned to "bury Abu Ammar alive", she said, using his nom de guerre to accuse them of conspiring to replace him.

Neither French nor Palestinian authorities conducted official investigations into the cause of death and Arafat's French physicians, citing privacy laws, refused to disclose the details of his conditions.

Subsequent examinations of his medical records have since ruled food poisoning and Aids as unlikely causes. They also revealed physicians did not prescribe Arafat antibiotics until 15 days after he fell ill, and two days before he was transferred to the Paris-based Percy Military Training Hospital in Clamart for emergency treatment.

Mr Bochud reiterated a need for caution yesterday because the lab results "are clearly not a proof of any poisoning".

Polonium-210 is a highly radioactive chemical used in 2006 to kill Alexader Litvinenko, a former KGB agent who later became a prominent Russian dissident, in London.

Saeb Erekat, chief Palestinian negotiator and member of the Fatah political faction that controls the West Bank, yesterday said the poisoning revelations were grounds for creating an international tribunal similar to that opened to investigate the 2005 killing of Lebanon's former prime minister, Rafiq Hariri.

"All I say is that, in our hearts, we all know that Arafat was killed, but I can't prove evidence from my heart, which is why I'm calling for an international tribunal to fully examine what happened," he said.

Many Palestinians believe undercover Mossad agents had poisoned Arafat because of his alleged role in orchestrating suicide bombings that killed scores of Israelis during the second intifada, or uprising, which began in 2000.

Israel's military had besieged Arafat and held him and his staff practically hostage for the three years up until his death at the presidential compound in Ramallah.

Israeli media reports at the time showed his assassination had been broached by Israel's then prime minister, Ariel Sharon. But he reportedly opted neither to kill nor expel Arafat from the Palestinian territories and instead chose to confine him to the presidential compound.

Arafat was not without internal rivals, either, as his closest advisers were both widely regarded to fear the ageing leader and harbour aspirations to take his position.

Last year, Mohammed Dahlan, formerly the head of Fatah's security apparatus in the Gaza Strip who recently fell out of favour with the faction, was accused by Fatah of poisoning Arafat. No evidence was produced publicly to support this claim, however.

Dov Weisglass, formerly Mr Sharon's chief of staff, dismissed the Al Jazeera report during a radio interview, saying the former prime minister opposed killing Arafat because "he didn't think his physical extermination would help" Israel's objectives during the second intifada.

Yigal Palmor, Israel's foreign ministry spokesman, said "the circumstances of Arafat's death are not a mystery" and that he "was treated in France, in a French hospital by French doctors and they have all the medical information".

But many Palestinians believe Arafat's death needs to be explained.

"We all knew it was poisoning," said Terry Atta, a 42-year-old Palestinian and resident of Ramallah. The owner of a small grocery believes one of the many diplomats or visitors at his palace in the months before his death carried it out. The Al Jazeera report merely confirmed what he already knew, he said.

* With additional reporting from The Associated Press

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Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5

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Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

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.”

Skewed figures

In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458. 

Profile of Bitex UAE

Date of launch: November 2018

Founder: Monark Modi

Based: Business Bay, Dubai

Sector: Financial services

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The number of Chinese people living in Dubai: An estimated 200,000

Number of Chinese people in International City: Almost 50,000

Daily visitors to Dragon Mart in 2018/19: 120,000

Daily visitors to Dragon Mart in 2010: 20,000

Percentage increase in visitors in eight years: 500 per cent

The bio

Who inspires you?

I am in awe of the remarkable women in the Arab region, both big and small, pushing boundaries and becoming role models for generations. Emily Nasrallah was a writer, journalist, teacher and women’s rights activist

How do you relax?

Yoga relaxes me and helps me relieve tension, especially now when we’re practically chained to laptops and desks. I enjoy learning more about music and the history of famous music bands and genres.

What is favourite book?

The Perks of Being a Wallflower - I think I've read it more than 7 times

What is your favourite Arabic film?

Hala2 Lawen (Translation: Where Do We Go Now?) by Nadine Labaki

What is favourite English film?

Mamma Mia

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If you’re interested in a career at Google, deep dive into the different career paths and pinpoint the space you want to join. When you know your space, you’re likely to identify the skills you need to develop.  

 

'Midnights'
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