ISIS and Al Qaeda are plotting attacks in the UK, the government is expected to warn on Tuesday.
Home Secretary Suella Braverman will describe terrorism by Islamist extremists as “the predominant threat” facing British security in an update to Contest, the UK’s counter-terrorism strategy.
She will say states including Russia pose an increasing threat and are using terrorism to create division in UK society.
There are about 800 live terror investigations in the UK and counter-terrorism police last year made 169 arrests.
Authorities thwarted 39 attacks in the late stages of planning, most of the plots by Islamist extremists.
Two plots were foiled in the past seven months.
Ms Braverman will outline the latest findings in an update to Contest, which has not been refreshed for five years.
The minister will use her speech to draw attention to the acute threat posed by Islamist extremists, The Times reported.
“Islamist terrorism remains the predominant threat,” Ms Braverman will say. “Terrorism is becoming increasingly unpredictable, making cases harder to detect and investigate.”
Ms Braverman will say Islamist terrorism accounts for three quarters of the workload of MI5, the UK’s security service.
Last month it emerged that Iraqi troops had foiled a plot by ISIS members seeking to carry out an attack at a public gathering in Britain.
Gen Abdul Wahab Al Saadi, Iraq’s most senior counter-terrorism officer, said ISIS had been “talking to UK-based terrorists and we know what they are planning”, describing the plot as “a big attack”.
The UK-based extremists were British citizens, he said, and added that western authorities had been informed.
“I can tell you that from the information we found at the site of one of our recent raids the next intended [terrorist] attack will be in the United Kingdom,” he told the Daily Mirror.
The news emerged after Iraqi troops raided a site and killed dozens of militants in the country.
Russia and other countries are using terrorism to create division in the UK and are an increasing threat, Ms Braverman will also warn.
“Terrorist narratives are also exploited by hostile actors such as Russia, which is seeking to promote divisive and polarising narratives in the West. This is likely to increase in the future.”
Russian-linked accounts were used after terrorist attacks such as the Manchester Arena bombing and the London Bridge stabbings to amplify divisive, far-right messaging, research shows.
“This is the first [report] of its kind for five years and is a comprehensive update for the UK’s response to terrorism,” a Whitehall source said.
“It’s about how the fragmentation of [ISIS] and Al Qaeda is now posing a very different threat to our people, while state actors like Russia and Iran will increasingly try to capitalise on terrorism here in the UK.
“We can’t be complacent. The terrorists are morphing and we have to keep our vigilance up.”
UK 'behind the curve' on terror threat
Yvette Cooper, the shadow home secretary, said the UK’s domestic security response was “not keeping up with the fast-changing landscape”.
Speaking at the Royal United Services Institute defence and security think tank on Monday, she recalled how “immense work” was done by British authorities to “build a strong counter-terror response” after the 9/11 attacks in the US and the 7/7 bombings in London.
“We’ve seen the threats change again since then,” she said.
“The UK faces continued challenges from Islamist and far-right extremists radicalised online, in prison or in the community.
“Instability in Afghanistan, Syria and East Africa means that groups affiliated to Al Qaeda and ISIS are operating with greater freedom again.”
Ms Cooper said the Office for Security and Counter Terrorism in the Home Office has “driven progress” in Contest.
“We also need similar progress around the threats, the state threats, state-sponsored, state-backed or state-licensed threats that we can see,” she added.
She also said the government needed to step up to meet new threats posed by advanced technology such as artificial intelligence.
“Hateful extremist online forums, chat groups and algorithms that prey on vulnerable people have been a concern for some time,” she said. “ But generative AI takes that to a new level.”
She referenced to the case of Jaswant Singh Chail, who planned an attack on the late Queen Elizabeth at Windsor Castle on Christmas Day. He claimed he had been encouraged by his “AI girlfriend”.
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Director: James Cameron
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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.”
SCHEDULE
Thursday, December 6
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15.00-17.00 Extra free practice
Friday, December 7
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09.40-10.00 F4 time trials
10.15-11.15 F1 free practice
14.00 F4 race 1
15.30 BRM F1 qualifying
Saturday, December 8
09.10-09.30 F4 free practice
09.40-10.00 F4 time trials
10.15-11.15 F1 free practice
14.00 F4 race 2
15.30 Grand Prix of Abu Dhabi
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