Manning is escorted out of a Fort Meade courthouse during the sentencing phase of his court-martial for leaking military and diplomatic secrets.
Manning is escorted out of a Fort Meade courthouse during the sentencing phase of his court-martial for leaking military and diplomatic secrets.
Manning is escorted out of a Fort Meade courthouse during the sentencing phase of his court-martial for leaking military and diplomatic secrets.
Manning is escorted out of a Fort Meade courthouse during the sentencing phase of his court-martial for leaking military and diplomatic secrets.

Manning pleads for a second chance


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FORT MEADE, Maryland // The US soldier Bradley Manning, taking the stand at his sentencing hearing, apologised for hurting his country by giving classified information to WikiLeaks and pleaded with a judge for the chance to go to college and become a productive citizen.

The 25-year-old addressed the court on Wednesday after a day of testimony about his troubled childhood, and the extreme psychological pressure that experts said he felt in the "hyper-masculine" military because of his gender-identity disorder - his feeling that he was a woman trapped in a man's body.

One psychiatrist said that Manning has symptoms of fetal alcohol syndrome and Asperger syndrome, which is an autism spectrum disorder.

"I am sorry that my actions hurt people. I'm sorry that they hurt the United States," Manning said.

The soldier said he understood what he was doing but that he did not believe at the time that leaking the classified information to the anti-secrecy website would cause harm to the US.

The release of diplomatic cables, warzone logs and videos was the largest leak of documents in US history.

Manning could be sentenced to 90 years in prison for the leaks, which occurred while he was working as an Army intelligence analyst in Iraq in 2010.

He appeared to struggle to contain his emotions several times during testimony from his sister, an aunt and two mental-health counsellors, one of whom had treated him and another who had diagnosed him with several problems.

His conciliatory tone was at odds with the statement he gave in court in February, when he condemned the actions of US soldiers overseas and what he called the military's "bloodlust".

Manning's apology could carry substantial weight with the military judge, said Eugene Fidell, who teaches military justice at Yale.

But the WikiLeaks founder, Julian Assange, said he believed the apology was forced.

"It took three years and millions of dollars to extract two minutes of tactical remorse from this brave soldier," he said.

Manning's attorneys contended that he showed clear signs of deteriorating mental health that should have prevented commanders from sending him to a war zone to handle classified information.

Manning eventually came out to Capt Michael Worsley, emailing the therapist a photo of himself in a long, blond wig and wearing lipstick.

The photo was attached to a letter in which Manning described his problem and his hopes that a military career would "get rid of it".

Capt Worsley testified on Wednesday that the soldier had been struggling under extreme conditions.

"You put him in that kind of hyper-masculine environment, if you will, with little support and few coping skills, the pressure would have been difficult to say the least," Capt Worsley said. "It would have been incredible."

Navy Capt David Moulton, a psychiatrist who spent 21 hours interviewing Manning after his arrest, testified that Manning's gender-identity disorder, combined with narcissistic personality traits, idealism and his lack of friends in Iraq, caused him to conclude he could change the world by leaking classified information.

He said Manning was struggling to balance his desire to right wrongs with his sense of duty to complete his Army tasks and his fear of losing his GI benefits and the opportunity to attend college.

"His decision-making capacity was influenced by the stress of his situation for sure," Capt Moulton said.

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.”

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Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

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Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

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