Campaigners have sent the UK government a list of 10 Iranian officials who the activists insist should face sanctions for their role in taking hostages.
Richard Ratcliffe, whose wife Nazanin Zaghari-Ratcliffe remains in Iran after being held in 2016 on disputed charges, on Sunday called for travel bans and asset freezes for the 10, who are all accused of roles in the hostage-taking process from seizure to prison abuse, propaganda and diplomatic wrangling.
The dossier filed with the UK is the first, with more expected in the coming weeks that will go to the US, EU and Canada calling for a multinational effort aimed at people involved in the operations.
The file includes details of sham trials, unlawful arrests, forced confessions and torture.
It is the work of lawyers and the families of more than 10 victims who have detailed their relatives’ experiences at the hands of the Iranian criminal justice system.
The families of the inmates want the governments to use so-called Magnitsky laws – designed to punish human rights abusers – as well as other Iran-focused sanctions' regimes.
The campaigners have declined to publicly identify the 10 because of security concerns. But the dossier comes as some world leaders prepare to gather in New York this week for a UN General Assembly pared down because of the Covid-19 pandemic.
Iran’s President Ebrahim Raisi, the former head of the judiciary, will not attend but his foreign minister is scheduled to travel. Liz Truss, the UK’s new Foreign Secretary, will also travel.
She asked to speak to Mr Ratcliffe on Sunday after the dossier was sent to her department for consideration last week.
Her predecessor, Dominic Raab, had been confident of a breakthrough this year in the case of his Ms Zaghari-Ratcliffe, who is currently on bail and living at her parents’ Tehran home, and another British-Iranian, Anoosheh Ashoori, 67, a retired engineer serving 10 years in Evin jail on disputed charges of spying for Israel.
But campaigners decided to act after the diplomatic efforts came to nothing and a new Iranian government was elected under arch-conservative Mr Raisi, signalling a potentially tougher stance on the dual-citizen prisoner issue in the coming months.
The move also comes only days before the 2,000-day anniversary of Ms Zaghari-Ratcliffe’s detention at Tehran’s international airport as the charity worker prepared to fly home to London with her young daughter after seeing her parents.
Mr Ratcliffe and Mr Ashoori’s family have linked their arrests with the failure of the UK to fulfil a £400 million ($549.6m) debt still owed to Iran after an arms deal with the former shah that was cancelled when he was ousted during the 1979 Revolution.
Mr Ratcliffe has talked about holding judges and jailers responsible for Iran’s hostage-taking industry for years but the families, working with lawyers, have put forward names for the first time. He said there are now more British citizens in prison than there were when his wife was first taken.
“We’ve put in front of the new foreign secretary a file of names, those who are involved in Iran’s hostage taking across the chain … those involved in taking people, processing them, giving them judges, those who are involved in treating them badly in prison,” he said.
“We’re not calling for broad-brush sanctions or collective punishment-type sanctions, it’s very much focused on those who were individually responsible for that stuff.
“It’s a form of organised crime and Iran has become a serial offender. But most hostages these days are state hostages – it’s not groups like ISIS. It’s growing – and in many ways this goes beyond Iran.”
Sacha Deshmukh, chief executive of Amnesty International UK, called for a “clearly articulated strategy” for securing the release of British citizens held in Iran.
"The plight of Nazanin Zaghari-Ratcliffe, Anoosheh Ashoori and other UK nationals held in Iran has extended across the last four foreign secretaries – it's long past time that the UK finally brought this deeply distressing episode to an end."
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.”
'Dark Waters'
Directed by: Todd Haynes
Starring: Mark Ruffalo, Anne Hathaway, William Jackson Harper
Rating: ****
Representing%20UAE%20overseas
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Our legal consultants
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Match info:
Manchester City 2
Sterling (8'), Walker (52')
Newcastle United 1
Yedlin (30')
From Europe to the Middle East, economic success brings wealth - and lifestyle diseases
A rise in obesity figures and the need for more public spending is a familiar trend in the developing world as western lifestyles are adopted.
One in five deaths around the world is now caused by bad diet, with obesity the fastest growing global risk. A high body mass index is also the top cause of metabolic diseases relating to death and disability in Kuwait, Qatar and Oman – and second on the list in Bahrain.
In Britain, heart disease, lung cancer and Alzheimer’s remain among the leading causes of death, and people there are spending more time suffering from health problems.
The UK is expected to spend $421.4 billion on healthcare by 2040, up from $239.3 billion in 2014.
And development assistance for health is talking about the financial aid given to governments to support social, environmental development of developing countries.
Profile Box
Company/date started: 2015
Founder/CEO: Mohammed Toraif
Based: Manama, Bahrain
Sector: Sales, Technology, Conservation
Size: (employees/revenue) 4/ 5,000 downloads
Stage: 1 ($100,000)
Investors: Two first-round investors including, 500 Startups, Fawaz Al Gosaibi Holding (Saudi Arabia)
Squad
Ali Kasheif, Salim Rashid, Khalifa Al Hammadi, Khalfan Mubarak, Ali Mabkhout, Omar Abdulrahman, Mohammed Al Attas, Abdullah Ramadan, Zayed Al Ameri (Al Jazira), Mohammed Al Shamsi, Hamdan Al Kamali, Mohammed Barghash, Khalil Al Hammadi (Al Wahda), Khalid Essa, Mohammed Shaker, Ahmed Barman, Bandar Al Ahbabi (Al Ain), Al Hassan Saleh, Majid Suroor (Sharjah) Walid Abbas, Ahmed Khalil (Shabab Al Ahli), Tariq Ahmed, Jasim Yaqoub (Al Nasr), Ali Saleh, Ali Salmeen (Al Wasl), Hassan Al Muharami (Baniyas)
Off-roading in the UAE: How to checklist
The biog
Name: Younis Al Balooshi
Nationality: Emirati
Education: Doctorate degree in forensic medicine at the University of Bonn
Hobbies: Drawing and reading books about graphic design
Fixtures:
Wed Aug 29 – Malaysia v Hong Kong, Nepal v Oman, UAE v Singapore
Thu Aug 30 - UAE v Nepal, Hong Kong v Singapore, Malaysia v Oman
Sat Sep 1 - UAE v Hong Kong, Oman v Singapore, Malaysia v Nepal
Sun Sep 2 – Hong Kong v Oman, Malaysia v UAE, Nepal v Singapore
Tue Sep 4 - Malaysia v Singapore, UAE v Oman, Nepal v Hong Kong
Thu Sep 6 – Final
SPEC%20SHEET%3A%20APPLE%20IPHONE%2015%20PRO%20MAX
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Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
TOUR RESULTS AND FIXTURES
June 3: NZ Provincial Barbarians 7 Lions 13
June 7: Blues 22 Lions 16
June 10: Crusaders 3 Lions 12
June 13: Highlanders 23 Lions 22
June 17: Maori All Blacks 10 Lions 32
June 20: Chiefs 6 Lions 34
June 24: New Zealand 30 Lions 15
June 27: Hurricanes 31 Lions 31
July 1: New Zealand 21 Lions 24
July 8: New Zealand v Lions
THREE
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Company profile
Name: Thndr
Started: October 2020
Founders: Ahmad Hammouda and Seif Amr
Based: Cairo, Egypt
Sector: FinTech
Initial investment: pre-seed of $800,000
Funding stage: series A; $20 million
Investors: Tiger Global, Beco Capital, Prosus Ventures, Y Combinator, Global Ventures, Abdul Latif Jameel, Endure Capital, 4DX Ventures, Plus VC, Rabacap and MSA Capital
ICC Awards for 2021
MEN
Cricketer of the Year – Shaheen Afridi (Pakistan)
T20 Cricketer of the Year – Mohammad Rizwan (Pakistan)
ODI Cricketer of the Year – Babar Azam (Pakistan)
Test Cricketer of the Year – Joe Root (England)
WOMEN
Cricketer of the Year – Smriti Mandhana (India)
ODI Cricketer of the Year – Lizelle Lee (South Africa)
T20 Cricketer of the Year – Tammy Beaumont (England)
Anghami
Started: December 2011
Co-founders: Elie Habib, Eddy Maroun
Based: Beirut and Dubai
Sector: Entertainment
Size: 85 employees
Stage: Series C
Investors: MEVP, du, Mobily, MBC, Samena Capital
How to avoid crypto fraud
- Use unique usernames and passwords while enabling multi-factor authentication.
- Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
- Avoid suspicious social media ads promoting fraudulent schemes.
- Only invest in crypto projects that you fully understand.
- Critically assess whether a project’s promises or returns seem too good to be true.
- Only use reputable platforms that have a track record of strong regulatory compliance.
- Store funds in hardware wallets as opposed to online exchanges.
The years Ramadan fell in May
The years Ramadan fell in May
Company Profile
Company name: Yeepeey
Started: Soft launch in November, 2020
Founders: Sagar Chandiramani, Jatin Sharma and Monish Chandiramani
Based: Dubai
Industry: E-grocery
Initial investment: $150,000
Future plan: Raise $1.5m and enter Saudi Arabia next year