Live updates: Follow the latest news on Israel-Gaza
The US federal government has opened civil rights investigations into seven schools and universities over allegations of anti-Semitism and Islamophobia.
Three Ivy League institutions – Columbia, Cornell and the University of Pennsylvania – along with Wellesley College in Massachusetts, Lafayette College in Pennsylvania and Cooper Union for the Advancement of Science and Art in New York, were named on the list, the Associated Press reported. The list also includes one K-12 system, the Maize Unified School District in Kansas.
Incidents of Islamophobia and anti-Semitism have been on the rise since the Israel-Gaza war broke out last month.
The Education Department announced the inquiries on Thursday, calling it part of efforts by US President Joe Biden administration to take “aggressive action” against discrimination.
Educational institutions have a legal duty to act “when students are targeted because they are – or are perceived to be – Jewish, Muslim, Arab, Sikh or any other ethnicity or shared ancestry”, Education Secretary Miguel Cardona said in a written statement.
Schools found to have violated civil rights law can face penalties up to a total loss of federal money, although the vast majority of cases end in voluntary settlements.
Mr Cardona told CNN on Friday that he expects more investigations are coming.
Five of the investigations are in response to allegations of anti-Semitic harassment, while two are in response to allegations of anti-Muslim harassment, the department said. The agency did not disclose which schools faced which accusations.
The schools are being investigated for possible discrimination based on shared ancestry or ethnic characteristics, which violates the Civil Rights Act of 1964. The federal law requires schools to protect students from discrimination and respond to harassment that creates a hostile environment. Anyone can file a complaint alleging such discrimination.
Penn and Wellesley were accused of anti-Semitism in federal complaints filed last week by the Brandeis Centre, a Jewish legal advocacy group.
In a November 9 letter to the Education Department, the centre says Penn professors have made anti-Semitic statements in the classroom and on social media and that many Jewish students are afraid to be on campus during pro-Palestinian rallies.
University President Liz Magill “has made clear anti-Semitism is vile and pernicious and has no place at Penn”, the school said.
“The university will continue to vigilantly combat anti-Semitism and all forms of hate.”
A separate letter from the Brandeis Centre said Wellesley has failed to address anti-Semitism. It cites an email that some dorm advisers sent to residents saying “there should be no space, no consideration and no support for Zionism” at Wellesley. Advisers later apologised for the message.
Officials at Lafayette said it was unclear to them why their school was being investigated.
“The college maintains a firm stance against anti-Semitism, Islamophobia and hate speech of any kind. The College is co-operating and will continue to co-operate fully with the DOE in their investigation,” the college said in a written statement.
Maize Unified, a district of about 8,000 pupils outside Wichita, said it did not receive a copy of the complaint but that the district “takes allegations of discrimination seriously and is committed to co-operating fully with any investigation”.
Over the past weeks, the Biden administration has been holding meetings with members of the Jewish as well as Arab and Muslim-American communities to discuss discrimination that has been on the rise since the beginning of the Israel-Gaza war.
“The level of intensity is really high,” Mr Cardona told CNN. “We need to match it with a level of response that meets the moment. We need to be listening to our students; we need to let them know that they will be safe in our schools – that we’re not going to tolerate hate or threats on campus.”
The latest from the Israel-Gaza war – in pictures
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.”
UAE tour of the Netherlands
UAE squad: Rohan Mustafa (captain), Shaiman Anwar, Ghulam Shabber, Mohammed Qasim, Rameez Shahzad, Mohammed Usman, Adnan Mufti, Chirag Suri, Ahmed Raza, Imran Haider, Mohammed Naveed, Amjad Javed, Zahoor Khan, Qadeer Ahmed
Fixtures:
Monday, 1st 50-over match
Wednesday, 2nd 50-over match
Thursday, 3rd 50-over match
UAE currency: the story behind the money in your pockets
THE SPECS
Engine: 2.0-litre 4-cylinder turbo
Power: 275hp at 6,600rpm
Torque: 353Nm from 1,450-4,700rpm
Transmission: 8-speed dual-clutch auto
Top speed: 250kph
Fuel consumption: 6.8L/100km
On sale: Now
Price: Dh146,999
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Company%20profile
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The specs
Engine: 1.6-litre 4-cyl turbo
Power: 217hp at 5,750rpm
Torque: 300Nm at 1,900rpm
Transmission: eight-speed auto
Price: from Dh130,000
On sale: now
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Day 1 results:
Open Men (bonus points in brackets)
New Zealand 125 (1) beat UAE 111 (3)
India 111 (4) beat Singapore 75 (0)
South Africa 66 (2) beat Sri Lanka 57 (2)
Australia 126 (4) beat Malaysia -16 (0)
Open Women
New Zealand 64 (2) beat South Africa 57 (2)
England 69 (3) beat UAE 63 (1)
Australia 124 (4) beat UAE 23 (0)
New Zealand 74 (2) beat England 55 (2)
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The specs
Engine: 3.5-litre twin-turbo V6
Power: 380hp at 5,800rpm
Torque: 530Nm at 1,300-4,500rpm
Transmission: Eight-speed auto
Price: From Dh299,000 ($81,415)
On sale: Now
COMPANY PROFILE
Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed
Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
Mohammed bin Zayed Majlis
Citadel: Honey Bunny first episode
Directors: Raj & DK
Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon
Rating: 4/5
The specs
Engine: 2-litre 4-cylinder and 3.6-litre 6-cylinder
Power: 220 and 280 horsepower
Torque: 350 and 360Nm
Transmission: eight-speed automatic
Price: from Dh136,521 VAT and Dh166,464 VAT
On sale: now