A court-sketch of Salah Abdeslam, the prime suspect in the November 2015 Paris attacks, standing in the courtroom on the first day of the trial. AFP
A court-sketch of Salah Abdeslam, the prime suspect in the November 2015 Paris attacks, standing in the courtroom on the first day of the trial. AFP
A court-sketch of Salah Abdeslam, the prime suspect in the November 2015 Paris attacks, standing in the courtroom on the first day of the trial. AFP
A court-sketch of Salah Abdeslam, the prime suspect in the November 2015 Paris attacks, standing in the courtroom on the first day of the trial. AFP

Paris terror attack trial begins: Twenty accused over massacre that killed 130


Nicky Harley
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The trial of 20 men accused of plotting and perpetrating the 2015 Paris terror attacks, which left 130 people dead and hundreds injured, got under way on Wednesday.

In one of the biggest court cases in the French history, the long-awaited trial commenced at the Palais de Justice courthouse in Paris under tight security.

ISIS gunmen wearing suicide vests attacked six bars and restaurants, the Bataclan concert hall and sports stadium on November 13, 2015.

French Gendarmes officers stand guard outside the Palais de Justice of Paris. AFP
French Gendarmes officers stand guard outside the Palais de Justice of Paris. AFP

The only surviving member of the armed cell, Salah Abdeslam, 31, is being tried along with 19 other detained, absent and deceased defendants.

Fourteen of those accused were taken one by one into a glass-enclosed box at one side of the courtroom, surrounded by armed officers.

When Abdeslam was asked to identify himself and state his profession he told the court he was “a fighter" for ISIS.

The presiding judge, Jean-Louis Peries, acknowledged the extraordinary circumstances of the events of that night.

“The events that we are about to decide are inscribed in their historic intensity as among the international and national events of this century,” he told the court.

It is alleged Abdeslam drove the first three suicide bombers to the Stade de France stadium where France were playing Germany.

They triggered their explosive belts outside killing a Portuguese man.

A group of gunmen, including Abdeslam’s brother Brahim, then opened fire indiscriminately on people gathered at restaurants in the capital.

The massacre ended with an attack at the Bataclan venue where US band Eagles of Death Metal were performing to a packed house.

All 10 attackers detonated their suicide vests or were killed by police except for Abdeslam, who dropped his own belt, which was found to be defective, and went on the run for four months.

He was arrested in Belgium after a shoot-out with police.

French-Moroccan Abdeslam and a Tunisian accomplice have since been sentenced to jail for 20 years for shooting and wounding four officers during the incident.

Men suspected of plotting and carrying out the Paris terrorist attacks, top row (L-R): Abdelhamid Abaaoud, Salah Abdeslam, Mohamed Abrini, Foued Mohamed Aggad and an unidentified man; Bottom row (L-R): another unidentified man, Brahim Abdeslam, Omar Ismail Mostefai, Samy Amimour and Bilal Hadfi. AFP
Men suspected of plotting and carrying out the Paris terrorist attacks, top row (L-R): Abdelhamid Abaaoud, Salah Abdeslam, Mohamed Abrini, Foued Mohamed Aggad and an unidentified man; Bottom row (L-R): another unidentified man, Brahim Abdeslam, Omar Ismail Mostefai, Samy Amimour and Bilal Hadfi. AFP

Days after their arrests, members of the same cell launched attacks in Brussels that killed 32 people.

France's Interior Minister Gerald Darmanin on Wednesday gave a warning that the threat of terrorism remains.

"The terrorist threat in France is high, especially at times like the attacks' trial," he told France Inter radio.

"I called on all the prefects to be vigilant."

More than 1,000 police will be devoted to ensuring the security during the trial, he 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.”

UAE tour of the Netherlands

UAE squad: Rohan Mustafa (captain), Shaiman Anwar, Ghulam Shabber, Mohammed Qasim, Rameez Shahzad, Mohammed Usman, Adnan Mufti, Chirag Suri, Ahmed Raza, Imran Haider, Mohammed Naveed, Amjad Javed, Zahoor Khan, Qadeer Ahmed
Fixtures:
Monday, 1st 50-over match
Wednesday, 2nd 50-over match
Thursday, 3rd 50-over match

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