Security is tight in Belfast as it prepares for the arrival of US President Joe Biden, left. EPA
Security is tight in Belfast as it prepares for the arrival of US President Joe Biden, left. EPA
Security is tight in Belfast as it prepares for the arrival of US President Joe Biden, left. EPA
Security is tight in Belfast as it prepares for the arrival of US President Joe Biden, left. EPA

Joe Biden makes Northern Ireland visit in aftermath of petrol bomb violence


Tim Stickings
  • English
  • Arabic

On the eve of a visit by US President Joe Biden, a petrol bomb attack on police was a reminder of the continued threat of violence in Northern Ireland.

Roads have been cordoned off in Belfast and events cancelled to make way for a massive police operation as Mr Biden flies in on Tuesday evening.

Monday's 25th anniversary of the Good Friday peace agreement was marred by improvised bombs being thrown at a police Land Rover during a republican rally in Derry, also known as Londonderry.

A public safety operation was underway at the city cemetery on Tuesday following the republican commemoration after police said a suspicious device was found inside the grounds of the cemetery at dawn.

The violence, in which police officers were unharmed, took place in the Creggan area of the city where journalist Lyra McKee was shot dead during rioting in 2019.

Police raids have taken place in recent days in Derry as part of an investigation into the New IRA, one of several republican splinter groups that reject the Good Friday Agreement.

Despite Mr Biden visiting to applaud the “tremendous progress” since 1998, politicians found themselves once again condemning violence on a day meant to celebrate Northern Ireland’s fresh start.

“It is especially depressing to see the involvement of young people in the midst of the rioting,” said Rachael Ferguson, a Derry councillor from the non-sectarian Alliance Party.

“We are seeing many people born after the agreement out risking their futures. The criminal godfathers will remain faceless in the shadows, teaching the younger generation hate and violence.”

A police Land Rover was attacked with petrol bombs during an unregistered nationalist march in Derry. Getty
A police Land Rover was attacked with petrol bombs during an unregistered nationalist march in Derry. Getty

Mike Nesbitt, a former leader of the Ulster Unionist Party, said it was “so sad” to see the violence by “young, masked men” coincide with the peace deal anniversary.

“They may think they’re changing society for the better,” he said, but one day “they will regret they have changed their own lives for the worse”.

A commonly held sentiment in the run-up to the anniversary has been that violence may have subsided since 1998, but the underlying social divisions between republicans and unionists remain.

Symbols of the divide between pro-Irish Catholics and pro-UK Protestants are visible on Belfast’s streets, most notably in the “peace walls” that divide parts of the city.

One such barrier in West Belfast has been newly repainted with the words “25 years of building peace” — but it continues to be locked at night.

The murals that display the allegiance of Belfast streets and neighbourhoods are not mere relics of the past but are still used to send political messages.

On the unionist Shankill Road, a mural was redone in a matter of days after the death of Queen Elizabeth II, a symbol of Britain to whom nationalist Sinn Fein MPs refused to swear allegiance.

Parts of Belfast are still divided by high 'peace walls' between Protestants and Catholics. AFP
Parts of Belfast are still divided by high 'peace walls' between Protestants and Catholics. AFP

A nationalist mural contains a salute to Ben & Jerry’s ice cream after it announced a boycott of Israeli-occupied territories, in a show of republican solidarity for Palestine.

Even now, most children in Northern Ireland attend segregated Protestant or Catholic schools — seen as prolonging the social divide for another generation.

Jonathan Tonge, a professor of British and Irish politics at the University of Liverpool, told The National that Northern Ireland’s young people were the least likely to vote at elections.

“They’re the least likely to say they are a unionist or a nationalist,” he said. “You might see that and think ‘that could be progress, Northern Ireland’s divisions are biodegrading’.

“But young people don’t turn up on polling day. They’re the least likely to vote. So elections are contests of true believers, unionist and nationalist believers, and young people feel alienated from the political system.”

One prominent young activist is Jamie Bryson, a 33-year-old unionist figure who on Monday accused Sinn Fein of radicalising the petrol bomb throwers by “consistently glorifying terrorism”.

He also claimed to have been threatened by an ultra-loyalist group called the Real Ulster Freedom Fighters. Unionist anger over the post-Brexit Northern Ireland Protocol was blamed in part for an outbreak of rioting in 2021.

On the other side of the divide, Britain’s MI5 security service says there are four main dissident republican groups, including the New IRA, who are prepared to use violence to achieve a united Ireland.

The New IRA claimed responsibility in February for the fatal shooting of detective chief inspector John Caldwell.

The terrorism threat level for Northern Ireland was recently raised from substantial to severe, meaning an attack is considered “highly likely”.

Marches that can stir high emotions are meant to be registered with Northern Ireland’s Parades Commission, which had 47 events on the list for Easter Monday — four of them classed as “sensitive”.

The commission can order bans on singing or paramilitary clothing if it fears community relations would be strained. In one case, marchers were limited to “a single drumbeat”.

However, the Creggan rally was not properly declared and police said protesters had carried paramilitary uniforms that were set on fire.

“Organisers of this parade communicated in advance their desire to have a respectful and dignified event, however, that is not what we witnessed today,” police chief superintendent Nigel Goddard said on Monday.

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Saturday, October 26: ‘The Time That Remains’ (2009) by Elia Suleiman
Saturday, November 2: ‘Beginners’ (2010) by Mike Mills
Saturday, November 16: ‘Finding Vivian Maier’ (2013) by John Maloof and Charlie Siskel
Tuesday, November 26: ‘All the President’s Men’ (1976) by Alan J Pakula
Saturday, December 7: ‘Timbuktu’ (2014) by Abderrahmane Sissako
Saturday, December 21: ‘Rams’ (2015) by Grimur Hakonarson

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Roll of honour

Who has won what so far in the West Asia Premiership season?

Western Clubs Champions League - Winners: Abu Dhabi Harlequins; Runners up: Bahrain

Dubai Rugby Sevens - Winners: Dubai Exiles; Runners up: Jebel Ali Dragons

West Asia Premiership - Winners: Jebel Ali Dragons; Runners up: Abu Dhabi Harlequins

UAE Premiership Cup - Winners: Abu Dhabi Harlequins; Runners up: Dubai Exiles

West Asia Cup - Winners: Bahrain; Runners up: Dubai Exiles

West Asia Trophy - Winners: Dubai Hurricanes; Runners up: DSC Eagles

Final West Asia Premiership standings - 1. Jebel Ali Dragons; 2. Abu Dhabi Harlequins; 3. Bahrain; 4. Dubai Exiles; 5. Dubai Hurricanes; 6. DSC Eagles; 7. Abu Dhabi Saracens

Fixture (UAE Premiership final) - Friday, April 13, Al Ain – Dubai Exiles v Abu Dhabi Harlequins

 

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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.”

Updated: April 11, 2023, 1:08 PM