Women embrace on June 28, 2015, in front of the Mosque of Villefontaine in France, where about 300 people gathered  to ‘condemn the attack’ of the man who drove a van into a warehouse packed with dangerous gases in the neighbourding town of Saint-Quentin-Fallavier in an apparent bid to blow up the factory. Omain Lafabregue / Agence France-Presse
Women embrace on June 28, 2015, in front of the Mosque of Villefontaine in France, where about 300 people gathered to ‘condemn the attack’ of the man who drove a van into a warehouse packed with dangShow more

Terror attack leaves French town grappling with fear and hatred



SAINT-QUENTIN-FALLAVIER, FRANCE // The French town where a terrorist decapitated a man and targeted a gas plant is now grappling with the aftermath: a climate of heightened suspicion and division among its 6,000 residents.

Neighbours came in groups – walking and peering out car windows – to gawk at the forest of cameras that popped up on Friday on Saint-Quentin-Fallavier, near Lyon.

They were anxious to share their emotions and find out about the assault after the attacker placed his victim’s severed head with flags carrying Arabic inscriptions at a factory entrance before driving into the plant and ramming into gas cannisters.

Akin Yilmaz, a 20-year-old studying law in Lyon, was worried that the attack will add to what he said is animosity towards Muslims.

Anti-Muslim sentiments were aggravated by the assaults on satirical magazine Charlie Hebdo and a kosher grocery in Paris that left 17 people dead in January, he said.

“This has dirtied Islam’s reputation,” he said. “A lot of people will mix things up. They’ll believe Islam is the enemy.”

President Francois Hollande said the incident was clearly an act of terrorism.

The government has arrested a suspect, who had been under surveillance from 2006 to 2008 because of links to Salafist movements, and is investigating whether or not he has accomplices.

Saint-Quentin residents voiced concerns that show Mr Yilmaz’s fears may be well grounded.

A man who declined to be named blurted out that France is paying the price for being too hospitable to immigrants.

A woman walking by with her daughter said she does not feel safe anymore, because the neighbouring larger cities of Villefontaine and L’Isle d’Abeau have seen their populations expand in the last 10 years and now include many jobless youths who are children of immigrants.

On rue Alfred de Vigny, where the father of three lived in a four-storey building next to a small park, most people had their blinds lowered on Saturday morning and there was little activity, save a few journalists trying to find out where exactly the killer’s apartment was.

On a bench across from her apartment block, a woman wearing a veil who declined to give her name said she has never known such commotion after swarms of journalists turned up and special police emptied the building where she lives.

The woman, from Tunisia, said she raised her eight children in the compound and her husband worked for a nearby factory of chemical products.

Even the ordinary police had never come to the building in 25 years, she said.

Back in Saint-Quentin, residents were still coming to terms with the shock.

“It’s impossible to feel safe anywhere now,” said Shirley Dieude, 24, who works as a painter. “I used to think this could never happen here, in the countryside, and then last year six jihadists were arrested in La Verpillere”, a neighbouring town.

Prime minister Manuel Valls vowed on Sunday that the government is taking all necessary actions to counter the terrorist threat and ensure that the population is safe. Yet Ms Dieude wonders whether the government can effectively protect everyone from such attacks.

“It’s terrifying to think that the whole place could blow up with this plant and that nothing can be done to prevent it,” she said. “You can’t have the army guarding every single one of them, can you?”

* Bloomberg

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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.”

MATCH INFO

Newcastle United 3
Gayle (23'), Perez (59', 63')

Chelsea 0

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
RESULT

Los Angeles Galaxy 2 Manchester United 5

Galaxy: Dos Santos (79', 88')
United: Rashford (2', 20'), Fellaini (26'), Mkhitaryan (67'), Martial (72')

Company%20Profile
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Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
ANATOMY%20OF%20A%20FALL
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COMPANY%20PROFILE
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COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Revibe%20%0D%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202022%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Hamza%20Iraqui%20and%20Abdessamad%20Ben%20Zakour%20%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%20%0D%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Refurbished%20electronics%20%0D%3Cbr%3E%3Cstrong%3EFunds%20raised%20so%20far%3A%3C%2Fstrong%3E%20%2410m%20%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EFlat6Labs%2C%20Resonance%20and%20various%20others%0D%3C%2Fp%3E%0A
Western Region Asia Cup T20 Qualifier

Sun Feb 23 – Thu Feb 27, Al Amerat, Oman

The two finalists advance to the Asia qualifier in Malaysia in August

 

Group A

Bahrain, Maldives, Oman, Qatar

 

Group B

UAE, Iran, Kuwait, Saudi Arabia

Libya's Gold

UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves. 

The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.

Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.

A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.

Results

3pm: Handicap (PA) Dh40,000 (Dirt) 1,000m; Winner: Dhafra, Antonio Fresu (jockey), Eric Lemartinel (trainer)

3.30pm: Maiden (PA) Dh40,000 (D) 2,000m; Winner: Al Ajayib, Antonio Fresu, Eric Lemartinel

4pm: Handicap (PA) Dh40,000 (D) 1,700m; Winner: Ashtr, Abdul Aziz Al Balushi, Majed Al Jahouri

4.30pm: Handicap (TB) Dh40,000 (D) 1,700m; Winner: Falcon Claws, Szczepan Mazur, Doug Watson

5pm: Sheikh Dr Sultan bin Khalifa Al Nahyan Cup – Prestige Handicap (PA) Dh100,000 (D) 1,700m; Winner: Al Mufham SB, Al Moatasem Al Balushi, Badar Al Hajri

5.30pm: Sharjah Marathon – Handicap (PA) Dh70,000 (D) 2,700m; Winner: Asraa Min Al Talqa, Al Moatasem Al Balushi, Helal Al Alawi

WITHIN%20SAND
%3Cp%3EDirector%3A%20Moe%20Alatawi%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Ra%E2%80%99ed%20Alshammari%2C%20Adwa%20Fahd%2C%20Muhand%20Alsaleh%3C%2Fp%3E%0A%3Cp%3ERating%3A%203%2F5%3C%2Fp%3E%0A