UK Foreign Secretary Dominic Raab has confirmed the need for Syria-style resettlement for people fleeing the Taliban and said humanitarian aid to Afghanistan should be increased.
UK armed forces continued to fly embassy staff and dual citizens from Kabul’s international airport on Tuesday, days after the city fell to advancing Taliban fighters.
Speaking to the BBC’s Today radio programme, Mr Raab said the government planned to resettle refugees in the UK through the normal asylum process, as well as “bespoke” initiatives that would be established owing to the crisis.
He would not be drawn on the exact number of migrants expected to enter the UK in the coming weeks and months.
Canada has pledged to take in 20,000 Afghan refugees, while the US is expected to accept 30,000.
After the start of the civil war in Syria and the rise of ISIS, Britain took in about 20,000 vulnerable Iraqis and Syrians fleeing conflict.
Reports suggest the latest concept could be similar, with women with children, people with serious medical conditions and survivors of torture prioritised.
“We’ve always been a big-hearted nation,” Mr Raab said. “We’ve got a model for that, previously used in Syria. So we’re not new to this, but let us work the details through properly and then set it out.”
The priority for now was to secure evacuation for as many British and dual citizens as possible, he said.
At least 150 people made it back to the UK on Sunday and 289 Afghans who served with UK authorities have been flown back on rescue missions in recent days.
Britain would continue to send aid to Afghanistan to “alleviate humanitarian suffering”, but efforts were being made to ensure it did not fall into the Taliban’s hands, Mr Raab said.
“I expect that we will increase our aid budget for development and humanitarian purposes, probably by 10 per cent is what I had in mind," he said.
Mr Raab said the government would engage with the Taliban leadership but would hold it to commitments made in the Doha agreement, under which the militants pledged to prevent Al Qaeda from operating in areas under its control.
Sanctions imposed in conjunction with partners at the UN could be used as “levers” that would hold the Taliban to account if they breached human rights, he said.
“I think it is always important, at least through direct or indirect means, to be able to engage," he said.
"But we will hold the Taliban to the commitments they made in the Doha agreement, commitments never to use their territory, Afghanistan, as a base for terrorism. To have a more inclusive regime going forward.
“They made a range of commitments. Frankly, I can’t tell you that I trust them to follow through on them.”
On Tuesday, a Royal Navy commander overseeing rescue efforts in Kabul said the evacuation was "operating at full pace".
Vice Admiral Sir Ben Key said British forces were working to move between 6,000 and 7,000 people out of Afghanistan.
The security situation was now "much calmer", but he said the evolving political climate meant military teams "can't afford to pause and wait".
"I'm very confident that we now have a stable airfield in which we can get on with the business, alongside all of our allies and partners, that we need to do," he said.
"We will go for as long as it takes us to either meet the demand or when the security situation means that we're no longer operating with consent."
On Monday, Defence Secretary Ben Wallace said the government was processing Afghan asylum claims "as fast as we can" and suggested rules around passports could be relaxed to speed up the process.
The Home Office has said the UK has already admitted more than 3,300 Afghan interpreters, staff and their families for resettlement.
Labour shadow foreign secretary Stephen Kinnock accused Prime Minister Boris Johnson of a “dereliction of duty” and said Britain had a moral obligation to help those in need.
Conservative MP Damian Green said on Twitter that Britain should take in any refugee who could make a case for asylum.
The UK Parliament will be recalled on Wednesday to debate the crisis.
Follow the latest updates on Afghanistan here
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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.”
Day 3, Abu Dhabi Test: At a glance
Moment of the day Just three balls remained in an exhausting day for Sri Lanka’s bowlers when they were afforded some belated cheer. Nuwan Pradeep, unrewarded in 15 overs to that point, let slip a seemingly innocuous delivery down the legside. Babar Azam feathered it behind, and Niroshan Dickwella dived to make a fine catch.
Stat of the day - 2.56 Shan Masood and Sami Aslam are the 16th opening partnership Pakistan have had in Tests in the past five years. That turnover at the top of the order – a new pair every 2.56 Test matches on average – is by far the fastest rate among the leading Test sides. Masood and Aslam put on 114 in their first alliance in Abu Dhabi.
The verdict Even by the normal standards of Test cricket in the UAE, this has been slow going. Pakistan’s run-rate of 2.38 per over is the lowest they have managed in a Test match in this country. With just 14 wickets having fallen in three days so far, it is difficult to see 26 dropping to bring about a result over the next two.
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FIXTURES
All times UAE ( 4 GMT)
Friday
Saint-Etienne v Montpellier (10.45pm)
Saturday
Monaco v Caen (7pm)
Amiens v Bordeaux (10pm)
Angers v Toulouse (10pm)
Metz v Dijon (10pm)
Nantes v Guingamp (10pm)
Rennes v Lille (10pm)
Sunday
Nice v Strasbourg (5pm)
Troyes v Lyon (7pm)
Marseille v Paris Saint-Germain (11pm)
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