Pakistan's interior adviser Rehman Malik, right, and the foreign minister Shah Mehmood Qureshi attend a meeting of the national security conference in Islamabad on Dec 2 2008.
Pakistan's interior adviser Rehman Malik, right, and the foreign minister Shah Mehmood Qureshi attend a meeting of the national security conference in Islamabad on Dec 2 2008.

Pakistan offers joint investigation



The Pakistan foreign minister Shah Mehmood Qureshi today said his country has offered a joint team to help India investigate the Mumbai attacks. "The government of Pakistan has offered a joint investigation mechanism, and we are ready to compose such a team which will help the investigation," he said in a televised statement. Mr Qureshi said that his government "wanted to get to the bottom of" the investigation and was ready to extend all possible co-operation and assistance. The minister, speaking in Urdu, said both governments needed to show "maturity, seriousness and patience" amid rising tensions between the nuclear-armed rivals after suspected Pakistani militants killed 188 people in the Mumbai attacks. However Pakistan's top diplomat dodged Indian demands to hand over 20 suspected militants said to be living on its soil, including the founder of the militant group Lashkar-e-Taiba, which has been named as prime suspect for the attacks. "I have offered this (co-operation) to my Indian counterpart Pranab Mukherjee and to the Indian government in response of the demarche. We have sent this reply that Pakistan is ready to extend all kind of co-operation and assistance." India has already demanded Pakistan take "strong action" against those responsible for the attacks, and the US has pressured Islamabad to co-operate. The moves come as the government faces widespread accusations of security and intelligence failures after militants carried out a three-day attack across India's financial capital, killing 172 people and wounding 239. The 10 gunmen had trained for months in camps operated by a banned Pakistani militant group before slipping into Mumbai from the sea, the only known surviving attacker told police. India's foreign intelligence agency received information as recently as September that Pakistan-based militants were plotting attacks against Mumbai targets, according to a government intelligence official familiar with the matter. The information was then relayed to domestic security officials, the official said, speaking on condition of anonymity because the person was not authorised to talk publicly about the details. The prime minister Manmohan Singh, who has promised to strengthen maritime and air security and look into creating a new federal investigative agency, met today with top security aides to review any government lapses. Among the prisoners sought by India is Dawood Ibrahim - a powerful gangster, the alleged mastermind of 1993 Mumbai bombings, and India's most-wanted man. Also included is Masood Azhar, a terror suspect freed from an Indian prison in exchange for the release of hostages aboard an Indian Airlines aircraft hijacked on Christmas Day 1999. "We will await the response from Pakistan," Mukherjee said. In Mumbai, from the FBI and Britain's Scotland Yard met with top Indian police as they prepared to help collect evidence, a police official said. Yesterday, soldiers removed the remaining bodies from the shattered Taj Mahal hotel, where the standoff finally ended on Saturday morning. The army had already cleared other siege sites, including the five-star Oberoi hotel and the Mumbai headquarters of an ultra-Orthodox Jewish group. India's financial hub has returned to normal to some degree, with parents dropping their children off at school and shopkeepers opening for the first time since the attacks, which Indian authorities blamed on the banned Pakistani militant group Lashkar-e-Taiba. While the cross-border rhetoric between Pakistan and India has increased since the attacks, both countries - by their often-antagonistic standards - carefully refrained from making statements that could quickly lead to a build-up of troops along their heavily militarised frontier. In India, Pakistan's high commissioner to the country met with foreign ministry officials and was told that "elements from Pakistan" had carried out the attacks, said ministry spokesman Vishnu Prakash. His phrasing, though, carefully avoided blaming the Pakistani government. The commissioner was told that India "expects that strong action would be taken against those elements", Mr Prakash said. US Secretary of State Condoleezza Rice, who will visit India later this week, said the perpetrators of attacks "must be brought to justice". Pakistan has repeatedly insisted it was not behind the attacks. The Pakistani president Asif Ali Zardari said yesterday the gunmen were "non-state actors," and warned against letting their actions lead to greater regional enmity. "Such a tragic incident must bring opportunity rather than the defeat of a nation," Mr Zardari told Arj television. "We don't think the world's great nations and countries can be held hostage by non-state actors." The sole surviving attacker, Ajmal Qasab, told police his group trained over about six months in camps operated by Lashkar in Pakistan, learning close-combat techniques, hostage-taking, handling of explosives, satellite navigation, and high-seas survival skills, according to two Indian security officials familiar with the investigation. They spoke on condition of anonymity because they were not authorised to speak publicly about the details. Lashkar was banned in Pakistan under pressure from the US in 2002, a year after Washington and Britain listed it as a terrorist group. Mr Qasab told investigators the militants hijacked an Indian vessel and killed three crew members, keeping the captain alive long enough to guide them into Mumbai, the two security officials said. The men, ages 18 to 28, then came ashore in a dinghy at two different Mumbai areas before slipping into the city in two teams, officials said. The gunmen struck at several sites, including a train station, where they mowed down police and passersby; the Jewish centre; and the two luxury hotels, representing the city's wealth and tourism, reportedly seeking out Westerners. The 19 foreigners killed were Americans, Germans, Canadians, Israelis and nationals from Britain, Italy, Mexico, Japan, China, Thailand, Australia, Singapore and Mexico. * AP and AFP

The National Archives, Abu Dhabi

Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.

Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en

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. 

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.”

The Bio

Hometown: Bogota, Colombia
Favourite place to relax in UAE: the desert around Al Mleiha in Sharjah or the eastern mangroves in Abu Dhabi
The one book everyone should read: 100 Years of Solitude by Gabriel Garcia Marquez. It will make your mind fly
Favourite documentary: Chasing Coral by Jeff Orlowski. It's a good reality check about one of the most valued ecosystems for humanity

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
UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

The smuggler

Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple. 
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.

Khouli conviction

Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.

For sale

A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.

- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico

- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000

- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950

MATCH INFO

Euro 2020 qualifier

Croatia v Hungary, Thursday, 10.45pm, UAE

TV: Match on BeIN Sports

THE BIO

Bio Box

Role Model: Sheikh Zayed, God bless his soul

Favorite book: Zayed Biography of the leader

Favorite quote: To be or not to be, that is the question, from William Shakespeare's Hamlet

Favorite food: seafood

Favorite place to travel: Lebanon

Favorite movie: Braveheart

FIGHT CARD

Welterweight Mostafa Radi (PAL) v Tohir Zhuraev (TJK)

Catchweight 75kg Leandro Martins (BRA) v Anas Siraj Mounir (MAR)

Flyweight Corinne Laframboise (CAN) v Manon Fiorot (FRA)

Featherweight Ahmed Al Darmaki (UAE) v Bogdan Kirilenko (UZB)

Lightweight Izzedine Al Derabani (JOR) v Atabek Abdimitalipov (KYG)

Featherweight Yousef Al Housani (UAE) v Mohamed Arsharq Ali (SLA)

Catchweight 69kg Jung Han-gook (KOR) v Elias Boudegzdame (ALG)

Catchweight 71kg Usman Nurmagomedov (RUS) v Jerry Kvarnstrom (FIN)

Featherweight title Lee Do-gyeom (KOR) v Alexandru Chitoran (ROU)

Lightweight title Bruno Machado (BRA) v Mike Santiago (USA)

PROFILE

Name: Enhance Fitness 

Year started: 2018 

Based: UAE 

Employees: 200 

Amount raised: $3m 

Investors: Global Ventures and angel investors 

Tightening the screw on rogue recruiters

The UAE overhauled the procedure to recruit housemaids and domestic workers with a law in 2017 to protect low-income labour from being exploited.

 Only recruitment companies authorised by the government are permitted as part of Tadbeer, a network of labour ministry-regulated centres.

A contract must be drawn up for domestic workers, the wages and job offer clearly stating the nature of work.

The contract stating the wages, work entailed and accommodation must be sent to the employee in their home country before they depart for the UAE.

The contract will be signed by the employer and employee when the domestic worker arrives in the UAE.

Only recruitment agencies registered with the ministry can undertake recruitment and employment applications for domestic workers.

Penalties for illegal recruitment in the UAE include fines of up to Dh100,000 and imprisonment

But agents not authorised by the government sidestep the law by illegally getting women into the country on visit visas.

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A MINECRAFT MOVIE

Director: Jared Hess

Starring: Jack Black, Jennifer Coolidge, Jason Momoa

Rating: 3/5

The National's picks

4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young

In numbers: PKK’s money network in Europe

Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010

Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille

Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm

Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year

Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”

Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners

TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013 

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
UAE currency: the story behind the money in your pockets
The White Lotus: Season three

Creator: Mike White

Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5

The specs

A4 35 TFSI

Engine: 2.0-litre, four-cylinder

Transmission: seven-speed S-tronic automatic

Power: 150bhp

Torque: 270Nm

Price: Dh150,000 (estimate)

On sale: First Q 2020

A4 S4 TDI

Engine: 3.0-litre V6 turbo diesel

Transmission: eight-speed PDK automatic

Power: 350bhp

Torque: 700Nm

Price: Dh165,000 (estimate)

On sale: First Q 2020

THE SPECS

Engine: 4.4-litre V8

Transmission: Automatic

Power: 530bhp 

Torque: 750Nm 

Price: Dh535,000

On sale: Now

Business Insights
  • As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses. 
  • SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income. 
  • Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
Meydan card

6.30pm: Al Maktoum Challenge Round-1 (PA) Group 1 US$65,000 (Dirt) 1,600m
7.05pm: Conditions (TB) $100,000 (Turf) 1,400m
7.40pm: UAE 2000 Guineas Trial (TB) $100,000 (D) 1,600m
8.15pm: Handicap (TB) $175,000 (T) 1,200m
8.50pm: Al Maktoum Challenge Round-1 (TB) Group 2 $350,000 (D) 1,600m
9.25pm: Handicap (TB) $175,000 (D) 1,900m
10pm: Handicap (TB) $135,000 (T) 1,600m

Tips for job-seekers
  • Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
  • Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.

David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East

Remaining fixtures
  • August 29 – UAE v Saudi Arabia, Hazza bin Zayed Stadium, Al Ain
  • September 5 – Iraq v UAE, Amman, Jordan (venue TBC)
Dr Afridi's warning signs of digital addiction

Spending an excessive amount of time on the phone.

Neglecting personal, social, or academic responsibilities.

Losing interest in other activities or hobbies that were once enjoyed.

Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.

Experiencing sleep disturbances or changes in sleep patterns.

What are the guidelines?

Under 18 months: Avoid screen time altogether, except for video chatting with family.

Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.

Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.

Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.

Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.

Source: American Paediatric Association

At Eternity’s Gate

Director: Julian Schnabel

Starring: Willem Dafoe, Oscar Isaacs, Mads Mikkelsen

Three stars

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UAE currency: the story behind the money in your pockets