Sex abuse suspect on suicide charge



DUBAI // An Emirati man accused of sexual abuse has been additionally charged with attempted suicide after he drank cleaning fluid to draw attention to what he said was mistreatment by the police. AJ, 27, told the Criminal Court of First Instance yesterday that he drank the poison to be able to see a doctor after being beaten by officers at the Rashidiyah Police station. He said that after he was beaten, officers at the station refused to provide him with medical attention or allow him to obtain a medical report from the hospital.

"I did not want to commit suicide," he told the presiding judge, El Saeed Bargouth. "I needed to get a medical report of the abuse given to me." AJ has been charged with sexually assaulting an Emirati woman and illegally entering her house, as well as attempted suicide. He pleaded not guilty to both charges. Prosecution records state that in August 2007 AJ contacted the woman, asking to meet her. She told prosecutors that she had received a text message from the defendant with a picture of her in a compromising situation.

"He threatened that if I did not see him he would show every one the picture," she testified. "He told me that he was infatuated with me and wanted to advise me." The woman said she contacted the Al Ameen security service but that she was instructed to go to the nearest police station to lodge her complaint. "I did not want to go to a police station because I did not want to be publicly embarrassed," she said.

The defendant continually pestered her and one night appeared in front of her house, telling her to open the window, she said. "He asked to come in and I refused, so he then rang my doorbell and threatened to wake up my family if I did not let him in." When the defendant came into the room, she said, he sexually assaulted her and then ran away. AJ was taken into custody last October 20 and released on bail.

The court adjourned the hearing to next month to review witness testimony. amustafa@thenational.ae

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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Director: Jared Hess

Starring: Jack Black, Jennifer Coolidge, Jason Momoa

Rating: 3/5

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GK: Alphonse Areola (youth academy)

Defence - RB: Dani Alves (free transfer); CB: Marquinhos (€31.4 million); CB: Thiago Silva (€42m); LB: Layvin Kurzawa (€23m)

Midfield - Angel di Maria (€47m); Adrien Rabiot (youth academy); Marco Verratti (€12m)

Forwards - Neymar (€222m); Edinson Cavani (€63m); Kylian Mbappe (initial: loan; to buy: €180m)

Total cost: €440.4m (€620.4m if Mbappe makes permanent move)

THE LIGHT

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Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger

Rating: 3/5

MATCH INFO

FA Cup fifth round

Chelsea v Manchester United, Monday, 11.30pm (UAE), BeIN Sports

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List of UAE medal winners

Gold
Faisal Al Ketbi (Open weight and 94kg)
Talib Al Kirbi (69kg)
Omar Al Fadhli (56kg)

Silver
Zayed Al Kaabi (94kg)
Khalfan Belhol (85kg)
Zayed Al Mansoori (62kg)
Mouza Al Shamsi (49kg women)

Bronze
Yahia Mansour Al Hammadi (Open and 94kg)
Saood Al Hammadi (77kg)
Said Al Mazroui (62kg)
Obaid Al Nuaimi (56kg)
Bashayer Al Matrooshi (62kg women)
Reem Abdulkareem (45kg women)