Tehran protesters clash with police at ceremony



TEHRAN // Police in Tehran clashed yesterday with hundreds of opposition protesters who had attempted to turn a Shiite mourning ceremony into an anti-government protest, according to eyewitnesses and opposition websites. Supporters of opposition leaders Mir Hossein Mousavi and Mehdi Karrubi had called for a protest rally on Tasua, a Shiite day of mourning held on the ninth day of the month of Moharram in the Islamic calendar.

Opposition activists have also called for more protests on the 10th day of Moharram, Ashura, which is the apex of Shiite ceremonies commemorating the death of Imam Hussein, the grandson of Prophet Mohammed, in 680AD. The day is marked by huge processions by Shiite communities all over the Muslim world. Foreign press have been banned from reporting from the scene of opposition street protests. Yesterday, various security forces, including riot police and plainclothes Basij, who are militiamen associated with the Revolutionary Guard, were deployed in huge numbers in several of Tehran's main squares and along the several kilometre-long boulevard that stretches from Imam Hossein Square in the east of the city to Azadi Square in the west, according to witnesses.

Crowds had gathered near Jamaran mosque, where reformist ex-president Mohammad Khatami was due to deliver a speech, the AFP news agency reported. Mr Khatami's speech was scheduled for 6pm but according to reports by opposition websites, he was not allowed to attend, and thousands of people protested around the site. "Police told them they have five minutes to leave and when they were still shouting slogans and persisted, policemen on motorbikes drove through the crowds and fired tear gas," one witness told the agency.

Reuters reported a witness saying: "Police are clashing with the protesters who chant 'Death to the Dictator' and 'Ya Hossein, Mirhossein'." Police chief Esmail Ahmadi Moghaddam had warned the opposition on Thursday that any attempt at anti-government rallies would be harshly suppressed. Authorities have imposed unprecedented regulations for this year's mourning ceremonies and processions to prevent the opposition from high-jacking Tasua and Ashura events for anti-government rallies.

Neighbourhood mourning groups that traditionally hold the ceremonies have been required to announce the route of their processions to local police authorities and are banned from the streets outside of prescribed hours. According to eye witnesses, yesterday morning no processions could be seen on the main streets of central Tehran where a protest rally had earlier been called by the opposition Green Movement.

Tear gas and shots fired into the air were used to disperse small groups of protesters who stood on the sidewalks and chanted anti-government slogans, opposition websites, including Jaras, claimed. Reports on the sites also said police blocked streets in central Tehran where protesters were expected to attempt to march. Large traffic jams formed in several places along the boulevard according to Jaras website which claimed that people in the cars joined in the protest by honking their horns. In some instances, people on public buses alongside the road chanted anti-government slogans, an eyewitness said.

According to an unconfirmed report by Iran News Agency, an opposition news portal that claims to be independent, all 30 passengers of a bus that had been chanting slogans in support of the protesters on the streets were detained and taken away by the riot police. According to another unconfirmed report by the Human Rights Activists News Agency - a news portal run by Iranian human rights activists - at least 10 protesters were arrested by the police yesterday.

The passing away of top dissident cleric Grand Ayatollah Montazeri last Sunday and the massive turnout of opposition protesters to his funeral in the holy city of Qom the following day has heightened expectations for renewed clashes between opposition protesters and security forces during this year's Ashura festival, which coincides with the seventh day after death ceremony of the deceased ayatollah.

The family of the deceased ayatollah cancelled all subsequent memorial services - normally held on the evening of the day of the funeral and on the third and the seventh days following death - to prevent violence against mourners. Opposition news portals claim that the cancellation was due to a ban on all ceremonies by authorities. The several hundred thousand strong rally by mourners of Grand Ayatollah Montazeri in Qom, during which anti-government slogans were chanted, proceeded peacefully. The opposition has vowed to mark the seventh day after the grand ayatollah's death today during the traditional Ashura festival.

msinaiee@thenational.ae

UAE currency: the story behind the money in your pockets
SCORES IN BRIEF

Lahore Qalandars 186 for 4 in 19.4 overs
(Sohail 100,Phil Salt 37 not out, Bilal Irshad 30, Josh Poysden 2-26)
bt Yorkshire Vikings 184 for 5 in 20 overs
(Jonathan Tattersall 36, Harry Brook 37, Gary Ballance 33, Adam Lyth 32, Shaheen Afridi 2-36).

Director: Jon Favreau

Starring: Donald Glover, Seth Rogen, John Oliver

Rating: 2 out of 5 stars

LEADERBOARD
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Test

Director: S Sashikanth

Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan

Star rating: 2/5

BULKWHIZ PROFILE

Date started: February 2017

Founders: Amira Rashad (CEO), Yusuf Saber (CTO), Mahmoud Sayedahmed (adviser), Reda Bouraoui (adviser)

Based: Dubai, UAE

Sector: E-commerce 

Size: 50 employees

Funding: approximately $6m

Investors: Beco Capital, Enabling Future and Wain in the UAE; China's MSA Capital; 500 Startups; Faith Capital and Savour Ventures in Kuwait

The White Lotus: Season three

Creator: Mike White

Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5

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Another way to earn air miles

In addition to the Emirates and Etihad programmes, there is the Air Miles Middle East card, which offers members the ability to choose any airline, has no black-out dates and no restrictions on seat availability. Air Miles is linked up to HSBC credit cards and can also be earned through retail partners such as Spinneys, Sharaf DG and The Toy Store.

An Emirates Dubai-London round-trip ticket costs 180,000 miles on the Air Miles website. But customers earn these ‘miles’ at a much faster rate than airline miles. Adidas offers two air miles per Dh1 spent. Air Miles has partnerships with websites as well, so booking.com and agoda.com offer three miles per Dh1 spent.

“If you use your HSBC credit card when shopping at our partners, you are able to earn Air Miles twice which will mean you can get that flight reward faster and for less spend,” says Paul Lacey, the managing director for Europe, Middle East and India for Aimia, which owns and operates Air Miles Middle East.

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.”

The 12 Syrian entities delisted by UK 

Ministry of Interior
Ministry of Defence
General Intelligence Directorate
Air Force Intelligence Agency
Political Security Directorate
Syrian National Security Bureau
Military Intelligence Directorate
Army Supply Bureau
General Organisation of Radio and TV
Al Watan newspaper
Cham Press TV
Sama TV

Fixtures
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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.

Where to buy art books in the UAE

There are a number of speciality art bookshops in the UAE.

In Dubai, The Lighthouse at Dubai Design District has a wonderfully curated selection of art and design books. Alserkal Avenue runs a pop-up shop at their A4 space, and host the art-book fair Fully Booked during Art Week in March. The Third Line, also in Alserkal Avenue, has a strong book-publishing arm and sells copies at its gallery. Kinokuniya, at Dubai Mall, has some good offerings within its broad selection, and you never know what you will find at the House of Prose in Jumeirah. Finally, all of Gulf Photo Plus’s photo books are available for sale at their show. 

In Abu Dhabi, Louvre Abu Dhabi has a beautiful selection of catalogues and art books, and Magrudy’s – across the Emirates, but particularly at their NYU Abu Dhabi site – has a great selection in art, fiction and cultural theory.

In Sharjah, the Sharjah Art Museum sells catalogues and art books at its museum shop, and the Sharjah Art Foundation has a bookshop that offers reads on art, theory and cultural history.

Honeymoonish
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