MANILA // There had been no death in the family, but when a funeral wreath was delivered to her mother's house, Glenda M Gloria knew it was not a case of mistaken identity. It was a threat in response to her investigation into allegations of government corruption.
She had been reporting on a scandal involving Gloria Arroyo, the Philippine president, who won her second term in 2004.
In a leaked recording of a phone call during the run-up to polling day, Mrs Arroyo and the country's elections commissioner sounded like they were discussing how to rig the vote.
While investigating the story, Ms Gloria received text messages telling her she was being watched.
"It's a mind game. The text messages were telling me, 'you just came from a breakfast meeting with so-and-so'," said Ms Gloria in an interview at the ABS-CBN News Channel, where she is a senior journalist.
"In the scheme of things, my case was a minor case," she added.
For many journalists in the Philippines, threats come with the territory. Too often those threats are carried through, as they were for Ernesto Rollins on Feb 23.
A radio presenter at Radio DXSY in Ozamiz City, he was shot dead at a petrol station on his way to host his morning programme. Reporters Without Borders and the International Federation of Journalists (IFJ) rank the Philippines as the most dangerous country to work in after Iraq. But unlike such war zones as Iraq, where the main dangers to journalists come from bombs and stray bullets, Filipino journalists are more often targeted directly.
"The Philippines remains notorious as the country where journalists are most likely to be murdered," according to the 2008 IFJ report on attacks on journalists.
The statistics have deteriorated since the country returned to democracy in 1986 after Ferdinand Marcos was ousted.
Sixty-two journalists have been killed since Mrs Arroyo took power in 2001. That is more than the number killed during Mr Marcos's 14-year reign.
Among the reasons for the bloodshed are struggles between military, rebel and militant groups and a culture of political violence and impunity.
In addition to a communist insurgency, the government is fighting rebels in the Mindanao region who took up arms 40 years ago in a bid to create a separate homeland for Muslims.
Since the late 1990s, the Abu Sayyaf militant group has targeted soldiers as well as civilians, including journalists and aid workers, some of whom have been beheaded. Kidnappers claiming to be Abu Sayyaf members are currently holding three International Committee of the Red Cross employees hostage on the remote island of Sulu.
When Ms Gloria visited the island to research her book, Under the Crescent Moon: Rebellion in Mindanao, she said the threat of death was palpable. "In Sulu you could actually smell the danger as soon as you landed at the airport," she said.
Ms Gloria said journalists covering the conflicts must cultivate sources with both the military and the rebels, leaving them open to suspicion they are passing information to one side or the other. For her part, she never interviewed Abu Sayyaf leaders.
But political violence claims the lives of even more journalists, Ms Gloria said.
Politicians, especially in rural areas, commonly hire gunmen for protection and to intimidate political opponents. Journalists often receive little if any salary from media outlets and they sometimes become involved with politicians who pay them, which makes them targets.
"They are using their shows to promote the interests of certain people who are in politics," Ms Gloria said.
Nonoy Espina, vice chairman of the National Union of Journalists of the Philippines, said many journalists are attacked because of their reporting.
But others become targets after crossing an ethical line working as spokesmen for politicians or doing favourable reports about them.
However, Mr Espina said the deaths of all journalists needed investigation, despite some acting unethically. He said Mr Rollins's reporting might have made him enemies, but he was also known to have worked for politicians. Alex Sy, the station manager at Radio DXSY, told the Associated Press that Mr Rollins was on the payroll of local politicians and acted as their spokesman during elections.
Politically affiliated or not, practising journalism in the southern Philippines is a dangerous job, said Mr Espina, who worked on the island of Negros before moving to Manila.
"I've received a lot of threats," he said. "The worst was when I received a text saying, 'tomorrow you will be writing about your family's death'. That shook me."
Romy Elusfa, a freelance journalist in Davao, Mindanao, said that like many journalists working in the south, he has received threatening text messages.
While some journalists make enemies because they are connected to politicians, most are not, he said. Instead they are targeted because of their reporting. Of the 62 cases of journalists killed during Mrs Arroyo's tenure, there have been only four convictions, according to the IFJ. Mr Espina said those convictions came about only because journalists, activists and family members pressured officials and sometimes even investigated the cases themselves.
"We equate inaction to tacit approval of what's going on," he said. "All it needs is an unequivocal order for the security forces to stop the killings and get the killers and we still have to hear that order."
Ms Gloria said she knows who was behind the death threats against her, although she does not have hard evidence so she would not divulge the name. It was a member of the armed forces.
"He's a colonel now, so I guess he got promoted," she said.
jferrie@thenational.ae
BIGGEST CYBER SECURITY INCIDENTS IN RECENT TIMES
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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.”
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
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