Federal forces were deployed in Washington DC to counter protests over the death of Georg Floyd. Joyce Karam
Federal forces were deployed in Washington DC to counter protests over the death of Georg Floyd. Joyce Karam
Federal forces were deployed in Washington DC to counter protests over the death of Georg Floyd. Joyce Karam
Federal forces were deployed in Washington DC to counter protests over the death of Georg Floyd. Joyce Karam

George Floyd death: Washington becomes a military zone as protesters demand justice


Joyce Karam
  • English
  • Arabic

Hardly an hour goes by in downtown Washington without a helicopter flying overhead or military and police vehicles passing in a show of force against the George Floyd protests.

Friday marks a week since nationwide rallies started by the death of a black man in Minneapolis police custody reached the US capital.

Downtown Washington resembles a military zone, with BearCat vehicles, police cars and security forces carrying batons.

On Tuesday, taller barriers were placed outside La Fayette Park, a block from the White House, before military vehicles and soldiers were sent in the next day to block protesters from the whole area.

At least 10 buses carrying hundreds of US troops arrived in downtown Washington on Wednesday evening.

"We are from all federal agencies," one security officer told The National, advising to check personnel badges to identify their agency or military unit.

Another said their presence was to prevent looting and maintain peace in the city.

But reports on the use of tear gas and the downdraft from helicopter rotors to disperse protesters have raised concern in Congress.

Washington DC is not a state, so sending in federal troops does not require local authorisation.

The city’s mayor, Muriel Bowser, rejected the mobilisation and called for the state to override President Donald Trump’s decision.

"While the federal government continues to militarise our city because of the lack of statehood, we know this: violence will not solve violence," Ms Bowser wrote on Twitter.

The protesters were also taken aback by the military presence.

“We are peaceful, we want to talk to the police,” said Michael, a young black man who marched in every protest since last Friday.

“We are not violent, we are just tired of injustice and being profiled."

Protesters in Washington DC have received support from residents who provided food, water and even shelter. Joyce Karam
Protesters in Washington DC have received support from residents who provided food, water and even shelter. Joyce Karam

Michael said he wanted answers and not just about the death of George Floyd.

“Why did they let George Zimmerman go? Why do they want to shut us up?” he asked.

Mr Zimmerman fatally shot Trayvon Martin, an unarmed black teenager, in Sanford, Florida, in 2012 but was acquitted in court.

Ever since they were blocked from La Fayette Park, the protesters have been marching across Washington.

The diverse crowd reflects the fabric of the city, with a large black American population but also a significant white and Hispanic presence.

Omar was among the people offering food to protesters in Washington. Joyce Karam
Omar was among the people offering food to protesters in Washington. Joyce Karam

Washington residents have been embracing and supportive of the protests.

A few blocks from the White House, Omar was offering beans and rice cooked for the protesters.

Mateo, a former Washington resident who moved to neighbouring Virginia, drove for 45 minutes with her sick husband to deliver water bottles to those marching in scorching summer heat.

Mateo drove 45 minutes from Virginia to bring water bottles for protesters in Washington. Joyce Karam
Mateo drove 45 minutes from Virginia to bring water bottles for protesters in Washington. Joyce Karam

Churches, shops and residents are leaving food and water outside for those in need.

On Swann Street, a hero emerged. Resident Rahul Dubey welcomed nearly 70 people into his house on Monday to prevent their arrest for breaching the curfew.

Mr Dubey's neighbours sent pizzas, and they sang songs and left at 6am after the curfew ended.

The protesters in the capital say they are not afraid of the military and there have been no fatal clashes between them.

For now they will continue marching, buoyed by local and national support, to achieve criminal justice reform.

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5 of the most-popular Airbnb locations in Dubai

Bobby Grudziecki, chief operating officer of Frank Porter, identifies the five most popular areas in Dubai for those looking to make the most out of their properties and the rates owners can secure:

• Dubai Marina

The Marina and Jumeirah Beach Residence are popular locations, says Mr Grudziecki, due to their closeness to the beach, restaurants and hotels.

Frank Porter’s average Airbnb rent:
One bedroom: Dh482 to Dh739 
Two bedroom: Dh627 to Dh960 
Three bedroom: Dh721 to Dh1,104

• Downtown

Within walking distance of the Dubai Mall, Burj Khalifa and the famous fountains, this location combines business and leisure.  “Sure it’s for tourists,” says Mr Grudziecki. “Though Downtown [still caters to business people] because it’s close to Dubai International Financial Centre."

Frank Porter’s average Airbnb rent:
One bedroom: Dh497 to Dh772
Two bedroom: Dh646 to Dh1,003
Three bedroom: Dh743 to Dh1,154

• City Walk

The rising star of the Dubai property market, this area is lined with pristine sidewalks, boutiques and cafes and close to the new entertainment venue Coca Cola Arena.  “Downtown and Marina are pretty much the same prices,” Mr Grudziecki says, “but City Walk is higher.”

Frank Porter’s average Airbnb rent:
One bedroom: Dh524 to Dh809 
Two bedroom: Dh682 to Dh1,052 
Three bedroom: Dh784 to Dh1,210 

• Jumeirah Lake Towers

Dubai Marina’s little brother JLT resides on the other side of Sheikh Zayed road but is still close enough to beachside outlets and attractions. The big selling point for Airbnb renters, however, is that “it’s cheaper than Dubai Marina”, Mr Grudziecki says.

Frank Porter’s average Airbnb rent:
One bedroom: Dh422 to Dh629 
Two bedroom: Dh549 to Dh818 
Three bedroom: Dh631 to Dh941

• Palm Jumeirah

Palm Jumeirah's proximity to luxury resorts is attractive, especially for big families, says Mr Grudziecki, as Airbnb renters can secure competitive rates on one of the world’s most famous tourist destinations.

Frank Porter’s average Airbnb rent:
One bedroom: Dh503 to Dh770 
Two bedroom: Dh654 to Dh1,002 
Three bedroom: Dh752 to Dh1,152 

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While you're here
Key changes

Commission caps

For life insurance products with a savings component, Peter Hodgins of Clyde & Co said different caps apply to the saving and protection elements:

• For the saving component, a cap of 4.5 per cent of the annualised premium per year (which may not exceed 90 per cent of the annualised premium over the policy term). 

• On the protection component, there is a cap  of 10 per cent of the annualised premium per year (which may not exceed 160 per cent of the annualised premium over the policy term).

• Indemnity commission, the amount of commission that can be advanced to a product salesperson, can be 50 per cent of the annualised premium for the first year or 50 per cent of the total commissions on the policy calculated. 

• The remaining commission after deduction of the indemnity commission is paid equally over the premium payment term.

• For pure protection products, which only offer a life insurance component, the maximum commission will be 10 per cent of the annualised premium multiplied by the length of the policy in years.

Disclosure

Customers must now be provided with a full illustration of the product they are buying to ensure they understand the potential returns on savings products as well as the effects of any charges. There is also a “free-look” period of 30 days, where insurers must provide a full refund if the buyer wishes to cancel the policy.

“The illustration should provide for at least two scenarios to illustrate the performance of the product,” said Mr Hodgins. “All illustrations are required to be signed by the customer.”

Another illustration must outline surrender charges to ensure they understand the costs of exiting a fixed-term product early.

Illustrations must also be kept updatedand insurers must provide information on the top five investment funds available annually, including at least five years' performance data.

“This may be segregated based on the risk appetite of the customer (in which case, the top five funds for each segment must be provided),” said Mr Hodgins.

Product providers must also disclose the ratio of protection benefit to savings benefits. If a protection benefit ratio is less than 10 per cent "the product must carry a warning stating that it has limited or no protection benefit" Mr Hodgins added.

Our legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

England v West Indies

England squad for the first Test Cook, Stoneman, Westley, Root (captain), Malan, Stokes, Bairstow, Moeen, Roland-Jones, Broad, Anderson, Woakes, Crane

Fixtures

1st Test Aug 17-21, Edgbaston

2nd Test Aug 25-29, Headingley

3rd Test Sep 7-11, Lord's

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.”

How to help

Send “thenational” to the following numbers or call the hotline on: 0502955999
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New schools in Dubai

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About Seez

Company name/date started: Seez, set up in September 2015 and the app was released in August 2017  

Founder/CEO name(s): Tarek Kabrit, co-founder and chief executive, and Andrew Kabrit, co-founder and chief operating officer

Based in: Dubai, with operations also in Kuwait, Saudi Arabia and Lebanon 

Sector:  Search engine for car buying, selling and leasing

Size: (employees/revenue): 11; undisclosed

Stage of funding: $1.8 million in seed funding; followed by another $1.5m bridge round - in the process of closing Series A 

Investors: Wamda Capital, B&Y and Phoenician Funds 

Leading all-time NBA scorers

Kareem Abdul-Jabbar 38,387
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LeBron James 31,425
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