A US House committee investigating the deadly January 6 assault on the Capitol by supporters of then-president Donald Trump on Tuesday voted to hold his former aide Steve Bannon in contempt of Congress.
The Democratic-controlled House of Representatives select committee voted unanimously, 9-0, to approve a report backing contempt charges against Mr Bannon.
"Mr Bannon stands alone in his complete defiance of our subpoena. That's not acceptable," select committee chairman, Bennie Thompson, said before the vote.
"No one in this country, no matter how wealthy or how powerful, is above the law."
The move paves the way for the entire House to vote on whether to recommend the charges on Thursday. If the House approves the referral, the Justice Department will decide whether to pursue a criminal case.
Before leaving office in January, Mr Trump pardoned Mr Bannon of fraud charges.
Mr Trump has urged former aides subpoenaed by the panel to reject its requests, claiming the right to withhold information because of executive privilege, a legal principle that protects many White House communications.
"Mr Bannon and Mr Trump's privilege arguments do, however, appear to reveal one thing," committee member Liz Cheney said at the meeting.
"They suggest that president Trump was personally involved in the planning and execution of January 6, and this committee will get to the bottom of that."
US President Joe Biden's White House says Mr Trump has no legitimate privilege claim.
"The former president's actions represented a unique and existential threat to our democracy that can't be swept under the rug," White House spokesman Michael Gwin said.
"The constitutional protections of executive privilege should not be used to shield information that reflects a clear and apparent effort to subvert the Constitution itself."
More than 670 people have been charged with taking part in the riot, the worst attack on the US government since the War of 1812.
The select committee has issued 19 subpoenas.
"If other witnesses defy this Committee, if they fail to co-operate, we will be back in this room, with a new report, with the names of whoever else mistakenly believes they are above the law," Mr Thompson said on Tuesday evening.
In a report on Monday, the committee said Mr Bannon made statements suggesting he knew ahead of time about "extreme events" on January 6, when Congress was scheduled to certify Democrat Joe Biden as the winner of the presidential election.
Mr Bannon said on a January 5 podcast that "All hell is going to break loose tomorrow."
The next day, thousands of Trump supporters descended on the Capitol building, in an attempt to overturn his election defeat, which he falsely claimed was the result of widespread fraud.
Mr Trump filed suit on Monday, alleging the committee made an illegal, unfounded and overly broad request for his White House records, which committee leaders rejected.
Many legal experts have said his executive privilege claim is weak because the committee has a compelling need to see the requested materials.
The US Supreme Court said in 1821 that Congress has "inherent authority" to arrest and detain recalcitrant witnesses on its own, without the Justice Department's help. But it has not used that authority in nearly a century.
The select committee was created by House Democrats against the wishes of most Republicans, and two of the committee's nine members, Ms Cheney and Adam Kinzinger, are Republicans.
Courts, state election officials and members of Mr Trump's own administration have rejected his claims that Mr Biden won because of election fraud.
Reuters contributed to this report
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Muslim Council of Elders condemns terrorism on religious sites
The Muslim Council of Elders has strongly condemned the criminal attacks on religious sites in Britain.
It firmly rejected “acts of terrorism, which constitute a flagrant violation of the sanctity of houses of worship”.
“Attacking places of worship is a form of terrorism and extremism that threatens peace and stability within societies,” it said.
The council also warned against the rise of hate speech, racism, extremism and Islamophobia. It urged the international community to join efforts to promote tolerance and peaceful coexistence.
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Day 4, Abu Dhabi Test: At a glance
Moment of the day Not much was expected – on Sunday or ever – of Hasan Ali as a batsman. And yet he lit up the late overs of the Pakistan innings with a happy cameo of 29 from 25 balls. The highlight was when he launched a six right on top of the netting above the Pakistan players’ viewing area. He was out next ball.
Stat of the day – 1,358 There were 1,358 days between Haris Sohail’s previous first-class match and his Test debut for Pakistan. The lack of practice in the multi-day format did not show, though, as the left-hander made an assured half-century to guide his side through a potentially damaging collapse.
The verdict As is the fashion of Test matches in this country, the draw feels like a dead-cert, before a clatter of wickets on the fourth afternoon puts either side on red alert. With Yasir Shah finding prodigious turn now, Pakistan will be confident of bowling Sri Lanka out. Whether they have enough time to do so and chase the runs required remains to be seen.
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Analysis
Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more
Benefits of first-time home buyers' scheme
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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.”
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