The United States declared the ongoing violence against Rohingya Muslims in Myanmar to be "ethnic cleansing" on Wednesday, Nov. 22, putting more pressure on the country's military to halt a brutal crackdown that has sent more than 600,000 refugees flooding over the border to Bangladesh. AP / Manuel Balce Ceneta
The United States declared the ongoing violence against Rohingya Muslims in Myanmar to be "ethnic cleansing" on Wednesday, Nov. 22, putting more pressure on the country's military to halt a brutal crackdown that has sent more than 600,000 refugees flooding over the border to Bangladesh. AP / Manuel Balce Ceneta
The United States declared the ongoing violence against Rohingya Muslims in Myanmar to be "ethnic cleansing" on Wednesday, Nov. 22, putting more pressure on the country's military to halt a brutal crackdown that has sent more than 600,000 refugees flooding over the border to Bangladesh. AP / Manuel Balce Ceneta
The United States declared the ongoing violence against Rohingya Muslims in Myanmar to be "ethnic cleansing" on Wednesday, Nov. 22, putting more pressure on the country's military to halt a brutal cra

US calls Myanmar's treatment of Rohingya 'ethnic cleansing'


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The United States on Wednesday called the Myanmar military operation against the Rohingya population "ethnic cleansing" and threatened targeted sanctions against those responsible for what it called "horrendous atrocities".

"The situation in northern Rakhine state constitutes ethnic cleansing against the Rohingya," US Secretary of State Rex Tillerson said in a statement, using a term he avoided when visiting Myanmar, also known as Burma, last week.

"The United States will also pursue accountability through US law, including possible targeted sanctions" against those responsible for the alleged abuses, which have driven hundreds of thousands of Rohingya into neighbouring Bangladesh, he added.

The United States shifted its stance in part to raise pressure on Myanmar's military and civilian leaders, who have shared power for the past two years under an uneasy arrangement after decades of military rule, to address the crisis.

Rights monitors accused Myanmar’s military of atrocities, including killings, mass rape and arson, against the Muslim minority group during so-called clearance operations after Rohingya militants' August 25 attacks on 30 police posts and an army base.

More than 600,000 Rohingya Muslims have fled Rakhine state in Buddhist-majority Myanmar, mostly to neighbouring Bangladesh, since the crackdown, which followed the insurgent attacks.

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"These abuses by some among the Burmese military, security forces, and local vigilantes have caused tremendous suffering and forced hundreds of thousands of men, women, and children to flee their homes," Mr Tillerson said.

While repeating US condemnation of the insurgent attacks, he added: "No provocation can justify the horrendous atrocities that have ensued."

Myanmar's 2-year-old government, led by Nobel Peace Prize laureate Aung San Suu Kyi, has faced heavy international criticism for its response to the crisis, though it has no control over the generals with whom it shares power.

"It’s not a situation that is completely under her authority, but certainly we are counting on her to show leadership and also to work through the civilian government with the military to address the crisis," a senior US official told reporters in a conference call.

The term "ethnic cleansing" is not defined in international or US law and does not inherently carry specific consequences, a second senior US official said on the call.

Murray Hiebert, a Southeast Asia analyst with the Center for Strategic and International Studies think tank in Washington, said the State Department's use of the term and threat of sanctions "will likely have limited to no impact on the ground".

"It is likely to create more distrust between the United States and Myanmar's military and government and push them closer to China, Russia, and its more authoritarian neighbours in Southeast Asia," he added.

A top UN official in September described the military actions as a textbook case of "ethnic cleansing," but the United States until Wednesday had avoided the term.

Washington has sought to balance its wish to nurture the civilian government in Myanmar, where it competes for influence with China, with its desire to hold the military accountable for the abuses. US officials also worry that the mistreatment of the Rohingya Muslim minority may fuel radicalism.

Congressional pressure for a tougher US response to the Rohingya crisis mounted before President Donald Trump's first visit to Asia this month to attend a summit of Southeast Asian countries, including Myanmar, in Manila.

US government sources told Reuters in October that officials were preparing a recommendation for Tillerson that would define the military-led campaign against the Rohingya as ethnic cleansing, which could spur new sanctions.

In early November, US lawmakers proposed targeted sanctions and travel restrictions on Myanmar military officials.

Rights group Amnesty International called for a comprehensive arms embargo against Myanmar as well as targeted financial sanctions against senior Myanmar military officials.

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.”

MATCH INFO

RB Leipzig 2 (Klostermann 24', Schick 68')

Hertha Berlin 2 (Grujic 9', Piatek 82' pen)

Man of the match Matheus Cunha (Hertha Berlin

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Points tally

1. Australia 52; 2. New Zealand 44; 3. South Africa 36; 4. Sri Lanka 35; 5. UAE 27; 6. India 27; 7. England 26; 8. Singapore 8; 9. Malaysia 3