Days before the election, the US is reminded of the unrest that spread through cities months ago forcing a national conversation on police accountability.
Protesters have returned to the streets, this time in Philadelphia, after police shot and killed an African-American man, 27.
Demonstrations have been held nightly since Walter Wallace Jr was killed on Monday.
A citywide curfew was introduced on Wednesday night, from 9pm to 6am, after looting, property destruction and increasingly violent confrontations between police and protesters.
Protests erupted on Tuesday night, with 91 people arrested, including 11 on charges of assaulting police and 76 for burglary.
Philadelphia Police Commissioner Danielle Outlaw said 23 police officers were injured.
Tension rose again on Wednesday when the authorities found a van filled with explosives, propane tanks and torches.
It is unclear who the owner or operator of the vehicle is but the bomb squad was brought in to investigate.
The city has had an increase in ATM thefts this year, in which people use low-grade explosives to vandalise or steal the bank machines.
Philadelphia police said that nine ATM machines had been blown this week.
Mayor Jim Kenney said Pennsylvania National Guard troops would arrive in Philadelphia on Friday to assist the police.
“Their role, first and foremost, will be to safeguard property and prevent looting," Mr Kenney said.
"They will also provide assistance for our police department and other operational departments as needed."
The police body camera footage of the Wallace's shooting is expected to be released in the coming days.
His family viewed all available footage and listened to the 911 call on Thursday.
A GoFundMe page created by his family says Wallace was a father of seven, with another on the way, and was married only weeks ago.
Police say two officers responded to a call on Monday about a man with a knife.
“He was brandishing it and waving it erratically," Philadelphia Police Sgt Eric Gripp told KYW.
Grainy mobile phone footage captured the incident, in which Wallace is approached by officers, but the final moments before officers fired their guns were not captured.
His mother Cathy said the family called police for an ambulance as Wallace was in the middle of a mental health crisis.
She said officers had been to their house three times that day responding to the mental health calls.
The killing has reignited activists' calls for police reforms.
Democratic presidential hopeful Joe Biden has embraced the idea of social workers accompanying police officers to reports involving mental health issues.
The Brutalist
Director: Brady Corbet
Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn
Rating: 3.5/5
The biog
Age: 59
From: Giza Governorate, Egypt
Family: A daughter, two sons and wife
Favourite tree: Ghaf
Runner up favourite tree: Frankincense
Favourite place on Sir Bani Yas Island: “I love all of Sir Bani Yas. Every spot of Sir Bani Yas, I love it.”
Emergency
Director: Kangana Ranaut
Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry
Rating: 2/5
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
Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
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.”
Suggested picnic spots
Abu Dhabi
Umm Al Emarat Park
Yas Gateway Park
Delma Park
Al Bateen beach
Saadiyaat beach
The Corniche
Zayed Sports City
Dubai
Kite Beach
Zabeel Park
Al Nahda Pond Park
Mushrif Park
Safa Park
Al Mamzar Beach Park
Al Qudrah Lakes
UAE currency: the story behind the money in your pockets
De De Pyaar De
Produced: Luv Films, YRF Films
Directed: Akiv Ali
Cast: Ajay Devgn, Tabu, Rakul Preet Singh, Jimmy Sheirgill, Jaaved Jaffrey
Rating: 3.5/5 stars
