Bahrain has uncovered a 54-member Iranian-linked militant group suspected of involvement in attacks on security forces, including organising a prison break in January, and seized automatic weapons.
It was one of the biggest security operations against suspected militants Bahrain blames for an increase in attacks on security forces in the kingdom.
Chief prosecutor Ahmed Al Hammadi said security forces arrested 25 members and seized 11 pistols and Kalashnikov rifles in a series of operations, including an attempted arms smuggling in December, state news agency BNA said.
Mr Al Hammadi also said an investigation into the January prison break revealed that a Germany-based leader of the group had helped organise trips for members from Bahrain to Iran and Iraq for training.
“The investigation revealed that ... several members [were sent] to Iran and Iraq to train on the use of explosives and automatic weapons in [Iranian] Revolutionary Guards camps to prepare them to carry out terrorist acts inside the country,” Mr Al Hammadi said.
The group was suspected of involvement in six armed attacks, including the January assault on Jau prison that killed one policeman and led to the escape of 10 convicted inmates and the stealing of weapons, the report said.
Members of the group also killed an officer at his farm in Bilad Al Qadeem on January 28, and organised an attempt to smuggle the escaped Jau prison inmates abroad in February. Authorities said at the time that security forces killed three men and captured seven during a gun battle at sea as they tried to flee to Iran.
Bahrain frequently accuses Iran of being behind bomb attacks targeting security services and fomenting protests among the kingdom’s Shiite population.
Tensions have been rising in the kingdom since last year after authorities stepped up a crackdown on dissent, banning the main opposition group Al Wefaq.
Meanwhile, Iran said yesterday it had successfully tested a sophisticated Russian-made air defence system.
Iran’s advanced S-300 system was operational after a test during a recent military exercise called Damavand, the name of the country’s highest mountain.
It was conducted in Iran’s central desert in the presence of government and military officials.
State TV showed the missiles being launched from the backs of lorries and targeting various flying objects, including other rockets.
With a range of up to 200 kilometres, the S-300 is capable of tracking and striking several targets at once.
Air defence commander Gen Farzad Esmaili said that a domestically made air defence system called Bavar 373, which was “more advanced than the S-300”, would be tested very soon.
Iran had been trying to acquire the system for years to ward off repeated threats by Israel to bomb its nuclear plants, but Russia suspended delivery in line with United Nations sanctions imposed over the nuclear programme.
* Reuters and Associated Press
Europe’s rearming plan
- Suspend strict budget rules to allow member countries to step up defence spending
- Create new "instrument" providing €150 billion of loans to member countries for defence investment
- Use the existing EU budget to direct more funds towards defence-related investment
- Engage the bloc's European Investment Bank to drop limits on lending to defence firms
- Create a savings and investments union to help companies access capital
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.”
Israel Palestine on Swedish TV 1958-1989
Director: Goran Hugo Olsson
Rating: 5/5
MATCH INFO
Al Jazira 3 (O Abdulrahman 43', Kenno 82', Mabkhout 90 4')
Al Ain 1 (Laba 39')
Red cards: Bandar Al Ahbabi (Al Ain)
Pari
Produced by: Clean Slate Films (Anushka Sharma, Karnesh Sharma) & KriArj Entertainment
Director: Prosit Roy
Starring: Anushka Sharma, Parambrata Chattopadhyay, Ritabhari Chakraborty, Rajat Kapoor, Mansi Multani
Three stars
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
Need to know
The flights: Flydubai flies from Dubai to Kilimanjaro airport via Dar es Salaam from Dh1,619 return including taxes. The trip takes 8 hours.
The trek: Make sure that whatever tour company you select to climb Kilimanjaro, that it is a reputable one. The way to climb successfully would be with experienced guides and porters, from a company committed to quality, safety and an ethical approach to the mountain and its staff. Sonia Nazareth booked a VIP package through Safari Africa. The tour works out to $4,775 (Dh17,538) per person, based on a 4-person booking scheme, for 9 nights on the mountain (including one night before and after the trek at Arusha). The price includes all meals, a head guide, an assistant guide for every 2 trekkers, porters to carry the luggage, a cook and kitchen staff, a dining and mess tent, a sleeping tent set up for 2 persons, a chemical toilet and park entrance fees. The tiny ration of heated water provided for our bath in our makeshift private bathroom stall was the greatest luxury. A standard package, also based on a 4-person booking, works out to $3,050 (Dh11,202) per person.
When to go: You can climb Kili at any time of year, but the best months to ascend are January-February and September-October. Also good are July and August, if you’re tolerant of the colder weather that winter brings.
Do not underestimate the importance of kit. Even if you’re travelling at a relatively pleasant time, be geared up for the cold and the rain.
