A Palestinian man holds a shoe during a demonstration calling for the release of Muntadar al Zeidi.
A Palestinian man holds a shoe during a demonstration calling for the release of Muntadar al Zeidi.

Iraqi forces accused of beating journalist



BAGHDAD // The Iraqi TV journalist who hurled his shoes at George W Bush, the US president, winning the adulation of the Arab world, had his arm and ribs broken at the hands of Iraqi security forces, his brother says. Muntazer al Zaidi, a Shiite, was bustled to the ground after launching his shoes at the US president and calling him a "dog". It is unclear if his arm and ribs were broken in the ensuing melee, which according to witnesses left blood on the floor, or if he was beaten later. "He has got a broken arm and ribs, and cuts to his eye and arm," his brother Durgham Zaidi told Agence France-Presse. His brother later confirmed the broken arm to Reuters and added that he had also been hit on the head with a rifle butt.

"All that we know is we were contacted yesterday by a person - we know him - and he told us that Muntazer was taken on Sunday to Ibn-Sina hospital," Durgham Zaidi said. "He was wounded in the head because he was hit by a rifle butt, and one of his arms was broken." The reports, which could not be confirmed, came as sources said the prime minister's guard, who initially arrested Mr al Zaidi, had turned him over to the army and then on to the judiciary. Being handed to the judiciary is usually an indication that a lengthy process, which could lead to a criminal trial, is about to be undertaken. A judge is presented with the evidence and decides if there is enough information to proceed with a trial, which can take months of legal wrangling.

Major Gen Abdul-Karim Khalaf, a spokesman for the interior ministry, had earlier said Mr al Zaidi could face up to two years in jail for insulting a foreign leader. Despite the seriousness of Mr al Zaidi's situation, who until the incident was a little known TV journalist, his legend continues to grow. Hugo Chavez, Venezuela's president known for calling Mr Bush a "donkey" and a "drunkard", praised Mr al Zaidi's courage. "It's a good thing it didn't hit him. I'm not encouraging throwing shoes at anybody, but really, what courage."

A Lebanese TV station offered Mr al Zaidi a job and promised to pay him a full salary from the moment the shoe was thrown. In Iraq, Mr al Zaidi's growing celebrity was seen in the number of text message jokes sent and received that refer to the case. The punchline of the most popular joke is that Mr Bush and Nouri al Maliki, the Iraqi prime minister who was standing next to Mr Bush at the time of the shoe throwing, had ordered all Iraqis banned from wearing shoes, they could only leave the house in slippers.

Another said Mr al Maliki, who tried to parry the second shoe, should be called up to the Iraqi national football team, as a goalkeeper. The joke being that despite trying to protect Mr Bush by thrusting out his hands, the Iraqi prime minister missed the shoe. For a country so fractured along ethnic and sectarian lines, Mr al Zaidi has had an amazing unifying effect on Iraq's Sunni and Shias communities who have unanimously got behind the Shiite reporter. "Let them go and see in Abu Ghraib and what their soldiers have done there and then they send this guy to court. He is a brave hero," said Hind Naji, 56, a Sunni. "Daily the Americans kill and they destroy hundreds of our cars with their Humvees and bad driving. They should charge these guys and take them to court, not chase our hero," said Ahmad Ali, 38, a Shiite. There was some concern among Iraqi intelligentsia that the incident could reflect badly on Iraqi. One university professor, who requested anonymity, said: "This journalist is impolite and it is a shame on Iraq and a shame on the Iraqi media, which has a hundred years of history." talbone@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.”

Bio

Born in Dubai in 1994
Her father is a retired Emirati police officer and her mother is originally from Kuwait
She Graduated from the American University of Sharjah in 2015 and is currently working on her Masters in Communication from the University of Sharjah.
Her favourite film is Pacific Rim, directed by Guillermo del Toro

WHAT IS A BLACK HOLE?

1. Black holes are objects whose gravity is so strong not even light can escape their pull

2. They can be created when massive stars collapse under their own weight

3. Large black holes can also be formed when smaller ones collide and merge

4. The biggest black holes lurk at the centre of many galaxies, including our own

5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed

Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

A MINECRAFT MOVIE

Director: Jared Hess

Starring: Jack Black, Jennifer Coolidge, Jason Momoa

Rating: 3/5

Libya's Gold

UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves. 

The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.

Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.

A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.

Electric scooters: some rules to remember
  • Riders must be 14-years-old or over
  • Wear a protective helmet
  • Park the electric scooter in designated parking lots (if any)
  • Do not leave electric scooter in locations that obstruct traffic or pedestrians
  • Solo riders only, no passengers allowed
  • Do not drive outside designated lanes
How much sugar is in chocolate Easter eggs?
  • The 169g Crunchie egg has 15.9g of sugar per 25g serving, working out at around 107g of sugar per egg
  • The 190g Maltesers Teasers egg contains 58g of sugar per 100g for the egg and 19.6g of sugar in each of the two Teasers bars that come with it
  • The 188g Smarties egg has 113g of sugar per egg and 22.8g in the tube of Smarties it contains
  • The Milky Bar white chocolate Egg Hunt Pack contains eight eggs at 7.7g of sugar per egg
  • The Cadbury Creme Egg contains 26g of sugar per 40g egg
NO OTHER LAND

Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal

Stars: Basel Adra, Yuval Abraham

Rating: 3.5/5

The%20specs%3A%202024%20Mercedes%20E200
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2.0-litre%20four-cyl%20turbo%20%2B%20mild%20hybrid%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E204hp%20at%205%2C800rpm%20%2B23hp%20hybrid%20boost%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E320Nm%20at%201%2C800rpm%20%2B205Nm%20hybrid%20boost%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E9-speed%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%20%3C%2Fstrong%3E7.3L%2F100km%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENovember%2FDecember%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh205%2C000%20(estimate)%3C%2Fp%3E%0A
Skewed figures

In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.