Five officers in Sri Lanka’s military intelligence apparatus have been arrested on suspicion of assassinating a newspaper editor eight years ago — in a murder with a dramatic aftermath, and one that became an example of the previous government’s attacks on dissidents.
Lasantha Wickrematunge, the editor of the Sunday Leader, was killed in 2009 while on his way to work one January morning. Four men on motorcycles pulled up next to his car, smashed his window, and shot him.
Wickrematunge had been fiercely critical of then-president Mahinda Rajapakse and his brother Gotabhaya, the country’s defence secretary. But despite the international outcry, the probe into his murder languished for the remainder of Mr Rajapakse’s presidency.
It was only after Mr Rajapakse was replaced in January 2015 by Maithripala Sirisena, that the investigation began again. Last July, a sergeant major in military intelligence was the first to be arrested in connection to the crime.
Last weekend, five intelligence officers were detained, representing the most significant breakthrough in the case. But the question remains: did one of the Rajapakse brothers order the assassination?
Wickrematunge certainly seemed to think so. In a posthumous editorial — to be published in the event of his murder — he accused the then-president of being “drunk with power”.
“In the wake of my death I know you will make all the usual sanctimonious noises and call upon the police to hold a swift and thorough inquiry,” he wrote, addressing Mr Rajapakse. “But like all the inquiries you have ordered in the past, nothing will come of this one, too.”
“For truth be told, we both know who will be behind my death, but dare not call his name. Not just my life, but yours too, depends on it.”
Wickrematunge was killed just days before he was scheduled to testify before a judge about Gotabhaya’s alleged corruption. In the months following the assassination, Sri Lanka won its civil war in brutal fashion, killing — according to figures from the United Nations — at least 40,000 civilians in the quest to exterminate the Liberation Tigers of Tamil Eelam (LTTE), a militant secessionist group.
Other journalists who criticised the government found themselves under attack as well. A cartoonist and political analyst named Prageeth Eknaligoda was allegedly abducted in January 2010; his body was never found.
Poddala Jayantha, another journalist, recalled anonymous threats and warnings, including a phone message that said: “If you go on doing what you’re doing, we’ll have to light candles for your funeral as well.”
In June 2009, Jayantha was snatched off the road into a white van and severely beaten by six men. He was warned that if he continued to be critical of Mr Rajapakse’s government, he would be shot. Mindful of his family’s welfare, Jayantha fled to the US.
The defeat of Mr Rajapakse in the 2015 elections brought fresh hope that such crimes — as well as war crimes that the former president and his brother have been accused of —would finally be prosecuted.
But the lethargy of the investigations has dampened spirits.
“It is getting to the point when we are wondering whether Sirisena will ever really go after the biggest fish in these crimes, as he promised he would when he ran for president,” said a Colombo-based human rights activist who asked not to be named, fearing retribution.
On Sunday, detectives told a magistrate that the five arrested suspects had run a “death squad” on the instructions of an unnamed senior defence official. The implication of more officials in the military establishment has raised fears that the investigation will falter.
“The process of delivering the justice for the killed, disappeared, assaulted journalists and destroyed media institutions in the recent history should be expedited,” the Free Media Movement, an independent media watchdog in Sri Lanka, said on Monday. “[We] demand the government … complete the investigation and punish the perpetrators without undue influence.”
ssubramanian@thenational.ae
UAE currency: the story behind the money in your pockets
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Third Test
Day 3, stumps
India 443-7 (d) & 54-5 (27 ov)
Australia 151
India lead by 346 runs with 5 wickets remaining
Killing of Qassem Suleimani
The Settlers
Director: Louis Theroux
Starring: Daniella Weiss, Ari Abramowitz
Rating: 5/5
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
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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.”
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law