Israeli paramedics treat victims after a shooting incident in a basement club in central Tel Aviv.
Israeli paramedics treat victims after a shooting incident in a basement club in central Tel Aviv.

Police hunt Tel Aviv gay club shooter



Hundreds of police officers were today scouring the streets of Tel Aviv in a door-to-door manhunt for a gunman who opened fire on a gay youth club. A masked man opened fire on a crowd in front of a gay club in Tel Aviv, killing two people and wounding 11 others, Israeli emergency services said. A young man and a young woman were killed on the spot in the shooting late on Saturday while three people suffered serious wounds. Hospital services had mistakenly said overnight that one of the wounded was dead. The gunman, who was dressed in black, unloaded an automatic weapon on the young group of gays and lesbians at the entrance of the club, located in the heart of Tel Aviv, then ran away, witnesses said.

Thousands of people gathered in the city centre overnight to denounce the attack. "Our (gay) community won't let itself be frightened, it will stand up to those who threaten it with heads held high and with pride, we will respond to war with war," left-wing opposition Meretz party MP Nitzan Horowitz said. Police meanwhile imposed a complete blackout on details of the inquiry. The Tel Aviv police chief Shahar Ayalon ordered the closure of a nearby gay bar and urged such establishments to remain vigilant.

"We are only at the first stage of the investigation, we continue our search and we are not sure of the motive of this attack since the centre has not received any threats recently," Mr Ayalon said. Representatives of the gay community believe it was a homophobic attack. "It is not surprising that such a crime can be committed given the incitement of hatred against the homosexual community," the president of Tel Aviv's gay and lesbian community, Mai Pelem, said. referring to verbal attacks against gays from the religious community.

In the past, swastikas had been painted at the entrance to the centre in an attempt to stigmatise homosexuals. The head of Israel's gay and lesbian national association, Mike Hamel, told journalists: "In our worst nightmares we could not have imagined that the hatred against our community, which is hurting nobody, could go this far." The Internal Security Minister Yitzhak Aharonovitch, also said he thought the attack had homophobic motives and promised the police would do everything possible to arrest the gunman, military radio reported.

If the motive is confirmed, it would be the worst homophobic attack against Israel's gay and lesbian community. In 2005, an ultra-Orthodox Jew stabbed three participants of the gay pride parade. He was later sentenced to 12 years in prison. Tel Aviv, unlike Jerusalem, is widely seen as being a very liberal city. Despite the hostility that homosexuals, particularly men, encounter from the ultra-Orthodox Jewish community, which considers homosexuality an "abomination," Israel repealed a ban on consensual same-sex sexual acts in 1988 and certain rights of gay or lesbian couples have since been recognised by the courts.

* AFP and AP

Zakat definitions

Zakat: an Arabic word meaning ‘to cleanse’ or ‘purification’.

Nisab: the minimum amount that a Muslim must have before being obliged to pay zakat. Traditionally, the nisab threshold was 87.48 grams of gold, or 612.36 grams of silver. The monetary value of the nisab therefore varies by current prices and currencies.

Zakat Al Mal: the ‘cleansing’ of wealth, as one of the five pillars of Islam; a spiritual duty for all Muslims meeting the ‘nisab’ wealth criteria in a lunar year, to pay 2.5 per cent of their wealth in alms to the deserving and needy.

Zakat Al Fitr: a donation to charity given during Ramadan, before Eid Al Fitr, in the form of food. Every adult Muslim who possesses food in excess of the needs of themselves and their family must pay two qadahs (an old measure just over 2 kilograms) of flour, wheat, barley or rice from each person in a household, as a minimum.

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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.”

A State of Passion

Directors: Carol Mansour and Muna Khalidi

Stars: Dr Ghassan Abu-Sittah

Rating: 4/5

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if you go

The flights

Etihad, Emirates and Singapore Airlines fly direct from the UAE to Singapore from Dh2,265 return including taxes. The flight takes about 7 hours.

The hotel

Rooms at the M Social Singapore cost from SG $179 (Dh488) per night including taxes.

The tour

Makan Makan Walking group tours costs from SG $90 (Dh245) per person for about three hours. Tailor-made tours can be arranged. For details go to www.woknstroll.com.sg

Sri Lanka-India Test series schedule

 

  • 1st Test India won by 304 runs at Galle
  • 2nd Test Thursday-Monday at Colombo
  • 3rd Test August 12-16 at Pallekele
HWJN
%3Cp%3EDirector%3A%20Yasir%20Alyasiri%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Baraa%20Alem%2C%20Nour%20Alkhadra%2C%20Alanoud%20Saud%3C%2Fp%3E%0A%3Cp%3ERating%3A%203%2F5%3C%2Fp%3E%0A%3Cp%3E%3C%2Fp%3E%0A
The Perfect Couple

Starring: Nicole Kidman, Liev Schreiber, Jack Reynor

Creator: Jenna Lamia

Rating: 3/5