Pakistan refugee crisis



With strong American support, Pakistan's prime minister, Yousaf Raza Gilani has announced a full-scale war against the Taliban resulting in a mass exodus of residents from the Swat Valley and surrounding area. Mr Gilani also said a fund of 200 million rupees had been established to provide relief for internally displaced people. Up to 15,000 security forces have been deployed in a fight against an estimated 4,000 militants. "Pakistan's offensive against the Taliban has forced a million people to flee their homes, the United Nations said. "Air strikes rocked Mingora, the main town in the Swat Valley, on Friday as the armed forces pressed ahead with the latest assault designed to clear the area of Taliban insurgents who have claimed swathes of the country in recent months," The Daily Telegraph reported. "The latest assessment from the UN High Commission for Refugees laid bare the scale of the fighting. The UN said that 200,000 civilians have already fled the Swat Valley and two neighbouring districts, while another 300,000 are either on the move or preparing to leave. Earlier offensives against the Taliban in other regions of the rugged North West Frontier Province near the Afghan border displaced another 500,000 people, bringing the total number displaced by the offensives to a million." Abdul Hai Kakar, reporting for the BBC said: "Most displaced people say they have left their homes not because of the Taliban's excesses, but because of shelling by the army. " 'The Taliban captured our area and started patrolling the streets, they snatched vehicles from NGO staff, government officials and private individuals, and they threatened local people,' says Nasir Ali, a high school student. " 'But it wasn't as bad as the shelling by the army - that was what actually forced us to leave our homes'... "I interviewed a large number of refugees in Swabi, but I did not meet a single person who actually saw the army and the Taliban as members of opposing camps. "Instead, I heard, they were 'two sides of the same coin'. " 'The Pakistani army has hurt us badly - but while they have killed civilians, I swear I haven't seen a single shell directed at the Taliban,' says Shahdad Khan, a refugee sheltering at a camp in Swabi's Shave Ada area. "Others question the Pakistani military's stated commitment to 'eliminating' the Taliban. " 'No way,' Siraj tells me. " 'The army brought the Taliban to our area! It's politics. The Taliban and the army are brothers.' " In The National, Nasir Khan reported: "even before the army's actions picked up steam, another national campaign was gaining momentum. Students, civil society leaders, politicians and activists united against the Taliban with the hopes they would inspire a movement as strong and effective as the lawyers' campaign which threatened to topple the government if sacked members of the judiciary were not restored. " 'This is a remarkable change,' said Amen Jaffer, a social scientist. 'For the longest time, the middle class remained silent as extremists gained attention and power. Now they are fighting back and showing they mean business.' "The protests in Lahore two weeks ago were arranged by the Citizens of Lahore, a loose platform of social, political and trade unions groups. Holding up placards saying 'No to Talibanisation' and 'No to Terrorism', the crowd chanted against religious fundamentalism. Among them was Salima Hashmi, an artist and a member of the Human Rights Commission of Pakistan. " 'The Taliban needs to be defeated,' she said. " 'They are trying to push us back into the pre-Islamic era and their claims of Islam are a sham.' "Ms Hashmi has been at the forefront of protests, demonstrations and rallies committed to ending the Talibanisation of Pakistan." In The News, Kamila Hyat wrote: "So far, the protests against the Taliban that we have seen in Islamabad, Lahore and Karachi have been staged essentially by the 'elite' - that familiar set of activists and students and professionals who regularly turn out on such occasions. The fact that their numbers have grown is of course a positive sign, but other categories of people too need to be included. Most fiercely oppose the Taliban, seeing clearly through their deceit and un-fooled by their claims to speak with the voice of religious righteousness. Indeed many leading clerics too share the people's distrust for the Taliban. But fear is a powerful force. In 2007, Maulana Hassan Jan, a respected clergyman with considerable political clout as a member of the Jamiat Ulema-e-Islam (Fazl) was assassinated. His attacks on the Taliban were seen as the factor behind this. Other scholars have been threatened or driven out of Swat and other places - and with each passing month a deeper silence prevails. Even in parliament or on TV talk shows, the threat of the Taliban influences what is said. Hosts have invited in strongly anti-Taliban figures, only to be confronted when the cameras roll with a hesitance that has rarely been seen before. And of course the media's own defence of the Taliban, coupled with threats to those within it who dare to differ, adds to the eerie quiet we hear everywhere." Babar Sattar said: "The message of the Taliban or other religious bigots can be simple and appealing to a majority of the population that is deprived of basic needs, disempowered and consequently disgruntled. The contract between the citizens and the state is not being honoured by the state and thus the system neither provides for the basic needs of a majority of the citizens nor offers them any real prospect for upward social mobility. This problem of governance is then presented by the maulvi [cleric] as a consequence of lack of religion. "America, the big Satan, has mesmerized the elites of this country, explains the maulvi. These elites, as agents of the devil, have signed on to modern/western ideas that are taking our society and our country away from our religion. Our miseries are a consequence of our sins and God's vengeance and the solution is a return to a backward lifestyle that shuns modernity. The appeal of this thesis lies in its simplicity. We are unhappy with the performance of the state and the manner in which it is leading to the creation of a predatory society and crave change. And such change is promised by the maulvi in the name of religion."

pwoodward@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.”

Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
Fitness problems in men's tennis

Andy Murray - hip

Novak Djokovic - elbow

Roger Federer - back

Stan Wawrinka - knee

Kei Nishikori - wrist

Marin Cilic - adductor

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

The lowdown

Badla

Rating: 2.5/5

Produced by: Red Chillies, Azure Entertainment 

Director: Sujoy Ghosh

Cast: Amitabh Bachchan, Taapsee Pannu, Amrita Singh, Tony Luke

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
NO OTHER LAND

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

Stars: Basel Adra, Yuval Abraham

Rating: 3.5/5

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20PlanRadar%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2013%3Cbr%3E%3Cstrong%3ECo-founders%3A%20%3C%2Fstrong%3EIbrahim%20Imam%2C%20Sander%20van%20de%20Rijdt%2C%20Constantin%20K%C3%B6ck%2C%20Clemens%20Hammerl%2C%20Domagoj%20Dolinsek%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EVienna%2C%20Austria%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EConstruction%20and%20real%20estate%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%20%3C%2Fstrong%3E400%2B%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3ESeries%20B%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Headline%2C%20Berliner%20Volksbank%20Ventures%2C%20aws%20Gr%C3%BCnderfonds%2C%20Cavalry%20Ventures%2C%20Proptech1%2C%20Russmedia%2C%20GR%20Capital%3C%2Fp%3E%0A

Founder: Ayman Badawi

Date started: Test product September 2016, paid launch January 2017

Based: Dubai, UAE

Sector: Software

Size: Seven employees

Funding: $170,000 in angel investment

Funders: friends

THE SPECS

Touareg Highline

Engine: 3.0-litre, V6

Transmission: 8-speed automatic

Power: 340hp

Torque: 450Nm

Price: Dh239,312

THE BIO: Martin Van Almsick

Hometown: Cologne, Germany

Family: Wife Hanan Ahmed and their three children, Marrah (23), Tibijan (19), Amon (13)

Favourite dessert: Umm Ali with dark camel milk chocolate flakes

Favourite hobby: Football

Breakfast routine: a tall glass of camel milk

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. 

The specs

AT4 Ultimate, as tested

Engine: 6.2-litre V8

Power: 420hp

Torque: 623Nm

Transmission: 10-speed automatic

Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)

On sale: Now

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