ISLAMABAD // Pakistan named a new army chief yesterday, promoting a veteran infantry commander to the most powerful position in the troubled nuclear-armed nation battling a homegrown Taliban insurgency.
General Raheel Sharif will take over as head of the 600,000-strong army from General Ashfaq Kayani, who is retiring after six years at the helm.
The change of command comes with the country facing a daunting array of challenges – the six-year Taliban campaign which has claimed thousands of lives, vexed relations with India and the winding-down of the 12-year Nato mission in neighbouring Afghanistan.
Gen Sharif, a veteran infantry commander whose elder brother won Pakistan’s highest military award for valour in the 1971 war with India, will formally take command today.
A message from the office of Prime Minister Nawaz Sharif confirmed Gen Sharif had been made chief of the army staff and General Rashid Mehmood had been made chairman of the joint chiefs of staff committee.
The prime minister’s statement also named Khwaja Asif, the minister for water and power, as the new defence minister. The post had been vacant since the May general election.
Departing commander Kayani has served as army chief since 2007 and has been given much credit for resisting the temptation to meddle overtly in politics.
When he confirmed his retirement last month he stressed that the armed forces “fully support and want to strengthen” democracy.
The general election in May marked a major landmark for Pakistani democracy as being the first time an elected government had completed its term and handed over power through the ballot box.
Prime Minister Sharif will be hoping to avoid a repeat of events the last time he named an army chief – General Pervez Musharraf overthrew him in a coup in 1999.
Retired general Talat Masood, a defence analyst, said Gen Sharif represented “continuity” with the Kayani era and would bring “good knowledge of counterinsurgency and counter-terrorism” to the role.
There has been much debate about how to deal with the campaign of violence waged against the state by the Pakistani Taliban.
The government has said it wants to pursue peace talks, but some have argued that a military offensive is needed to clear militant hideouts in the tribal northwest.
Analyst Hasan Askari said he thought the new commander would take an uncompromising approach.
“He belongs to a family of soldiers, his father was a martyr, his brother was honoured with the highest military award, so I expect he will go for the extremist groups and clear the tribal areas,” Mr Askari said.
Gen Sharif, 57, was commissioned into the Frontier Force Regiment in 1976 and has commanded numerous infantry units including two on the sensitive border with India.
* Agence France-Presse
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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.”
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The rules on fostering in the UAE
A foster couple or family must:
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- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
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BEST FILM
- 1917 - Pippa Harris, Callum McDougall, Sam Mendes, Jayne-Ann Tenggren
- THE IRISHMAN - Robert De Niro, Jane Rosenthal, Martin Scorsese, Emma Tillinger Koskoff
- JOKER - Bradley Cooper, Todd Phillips, Emma Tillinger Koskoff
- ONCE UPON A TIME… IN HOLLYWOOD - David Heyman, Shannon McIntosh, Quentin Tarantino
- PARASITE - Bong Joon-ho, Kwak Sin-ae
DIRECTOR
- 1917 - Sam Mendes
- THE IRISHMAN - Martin Scorsese
- JOKER - Todd Phillips
- ONCE UPON A TIME… IN HOLLYWOOD - Quentin Tarantino
- PARASITE - Bong Joon-ho
OUTSTANDING BRITISH FILM
- 1917 - Sam Mendes, Pippa Harris, Callum McDougall, Jayne-Ann Tenggren, Krysty Wilson-Cairns
- BAIT - Mark Jenkin, Kate Byers, Linn Waite
- FOR SAMA - Waad al-Kateab, Edward Watts
- ROCKETMAN - Dexter Fletcher, Adam Bohling, David Furnish, David Reid, Matthew Vaughn, Lee Hall
- SORRY WE MISSED YOU - Ken Loach, Rebecca O’Brien, Paul Laverty
- THE TWO POPES - Fernando Meirelles, Jonathan Eirich, Dan Lin, Tracey Seaward, Anthony McCarten
FILM NOT IN THE ENGLISH LANGUAGE
- THE FAREWELL - Lulu Wang, Daniele Melia
- FOR SAMA - Waad al-Kateab, Edward Watts
- PAIN AND GLORY - Pedro Almodóvar, Agustín Almodóvar
- PARASITE - Bong Joon-ho
- PORTRAIT OF A LADY ON FIRE - Céline Sciamma, Bénédicte Couvreur
LEADING ACTRESS
- JESSIE BUCKLEY - Wild Rose
- SCARLETT JOHANSSON - Marriage Story
- SAOIRSE RONAN - Little Women
- CHARLIZE THERON - Bombshell
- RENÉE ZELLWEGER - Judy
LEADING ACTOR
- LEONARDO DICAPRIO - Once Upon a Time… In Hollywood
- ADAM DRIVER - Marriage Story
- TARON EGERTON - Rocketman
- JOAQUIN PHOENIX - Joker
- JONATHAN PRYCE - The Two Popes
SUPPORTING ACTOR
- TOM HANKS - A Beautiful Day in the Neighborhood
- ANTHONY HOPKINS - The Two Popes
- AL PACINO - The Irishman
- JOE PESCI - The Irishman
- BRAD PITT - Once Upon a Time… in Hollywood
SUPPORTING ACTRESS
- LAURA DERN - Marriage Story
- SCARLETT JOHANSSON - Jojo Rabbit
- FLORENCE PUGH - Little Women
- MARGOT ROBBIE - Bombshell
- MARGOT ROBBIE - Once Upon a Time… in Hollywood
ADAPTED SCREENPLAY
- THE IRISHMAN - Steven Zaillian
- JOJO RABBIT - Taika Waititi
- JOKER - Todd Phillips, Scott Silver
- LITTLE WOMEN - Greta Gerwig
- THE TWO POPES - Anthony McCarten
ORIGINAL SCREENPLAY
- BOOKSMART - Susanna Fogel, Emily Halpern, Sarah Haskins, Katie Silberman
- KNIVES OUT - Rian Johnson
- MARRIAGE STORY - Noah Baumbach
- ONCE UPON A TIME… IN HOLLYWOOD - Quentin Tarantino
- PARASITE - Han Jin Won, Bong Joon ho
DOCUMENTARY
- AMERICAN FACTORY - Steven Bognar, Julia Reichert
- APOLLO 11 - Todd Douglas Miller
- DIEGO MARADONA - Asif Kapadia
- FOR SAMA - Waad al-Kateab, Edward Watts
- THE GREAT HACK - Karim Amer, Jehane Noujaime
OUTSTANDING DEBUT BY A BRITISH WRITER, DIRECTOR OR PRODUCER
- BAIT - Mark Jenkin (Writer/Director), Kate Byers, Linn Waite (Producers)
- FOR SAMA - Waad al-Kateab (Director/Producer), Edward Watts (Director)
- MAIDEN - Alex Holmes (Director)
- ONLY YOU - Harry Wootliff (Writer/Director)
- RETABLO - Álvaro Delgado-Aparicio (Writer/Director)
ANIMATED FILM
- FROZEN 2 - Chris Buck, Jennifer Lee, Peter Del Vecho
- KLAUS - Sergio Pablos, Jinko Gotoh
- A SHAUN THE SHEEP MOVIE: FARMAGEDDON - Will Becher, Richard Phelan, Paul Kewley
- TOY STORY 4 - Josh Cooley, Mark Nielsen
CASTING
- JOKER - Shayna Markowitz
- MARRIAGE STORY - Douglas Aibel, Francine Maisler
- ONCE UPON A TIME… IN HOLLYWOOD - Victoria Thomas
- THE PERSONAL HISTORY OF DAVID COPPERFIELD - Sarah Crowe
- THE TWO POPES - Nina Gold
EE RISING STAR AWARD (voted for by the public)
- AWKWAFINA
- JACK LOWDEN
- KAITLYN DEVER
- KELVIN HARRISON JR.
- MICHEAL WARD
CINEMATOGRAPHY
- 1917 - Roger Deakins
- THE IRISHMAN - Rodrigo Prieto
- JOKER - Lawrence Sher
- LE MANS ’66 - Phedon Papamichael
- THE LIGHTHOUSE - Jarin Blaschke
EDITING
- THE IRISHMAN - Thelma Schoonmaker
- JOJO RABBIT - Tom Eagles
- JOKER - Jeff Groth
- LE MANS ’66 - Andrew Buckland, Michael McCusker
- ONCE UPON A TIME… IN HOLLYWOOD - Fred Raskin
COSTUME DESIGN
- THE IRISHMAN - Christopher Peterson, Sandy Powell
- JOJO RABBIT - Mayes C. Rubeo
- JUDY - Jany Temime
- LITTLE WOMEN - Jacqueline Durran
- ONCE UPON A TIME… IN HOLLYWOOD - Arianne Phillips
PRODUCTION DESIGN
- 1917 - Dennis Gassner, Lee Sandales
- THE IRISHMAN - Bob Shaw, Regina Graves
- JOJO RABBIT - Ra Vincent, Nora Sopková
- JOKER - Mark Friedberg, Kris Moran
- ONCE UPON A TIME… IN HOLLYWOOD - Barbara Ling, Nancy Haigh
SOUND
- 1917 - Scott Millan, Oliver Tarney, Rachael Tate, Mark Taylor, Stuart Wilson
- JOKER - Tod Maitland, Alan Robert Murray, Tom Ozanich, Dean Zupancic
- LE MANS ’66 - David Giammarco, Paul Massey, Steven A. Morrow, Donald Sylvester
- ROCKETMAN - Matthew Collinge, John Hayes, Mike Prestwood Smith, Danny Sheehan
- STAR WARS: THE RISE OF SKYWALKER - David Acord, Andy Nelson, Christopher Scarabosio, Stuart Wilson, Matthew Wood
ORIGINAL SCORE
- 1917 - Thomas Newman
- JOJO RABBIT - Michael Giacchino
- JOKER - Hildur Guđnadóttir
- LITTLE WOMEN - Alexandre Desplat
- STAR WARS: THE RISE OF SKYWALKER - John Williams
SPECIAL VISUAL EFFECTS
- 1917 - Greg Butler, Guillaume Rocheron, Dominic Tuohy
- AVENGERS: ENDGAME - Dan Deleeuw, Dan Sudick
- THE IRISHMAN - Leandro Estebecorena, Stephane Grabli, Pablo Helman
- THE LION KING - Andrew R. Jones, Robert Legato, Elliot Newman, Adam Valdez
- STAR WARS: THE RISE OF SKYWALKER - Roger Guyett, Paul Kavanagh, Neal Scanlan, Dominic Tuohy
MAKE UP & HAIR
- 1917 - Naomi Donne
- BOMBSHELL - Vivian Baker, Kazu Hiro, Anne Morgan
- JOKER - Kay Georgiou, Nicki Ledermann
- JUDY - Jeremy Woodhead
- ROCKETMAN - Lizzie Yianni Georgiou
BRITISH SHORT FILM
- AZAAR - Myriam Raja, Nathanael Baring
- GOLDFISH - Hector Dockrill, Harri Kamalanathan, Benedict Turnbull, Laura Dockrill
- KAMALI - Sasha Rainbow, Rosalind Croad
- LEARNING TO SKATEBOARD IN A WARZONE (IF YOU’RE A GIRL) - Carol Dysinger, Elena Andreicheva
- THE TRAP - Lena Headey, Anthony Fitzgerald
BRITISH SHORT ANIMATION
- GRANDAD WAS A ROMANTIC - Maryam Mohajer
- IN HER BOOTS - Kathrin Steinbacher
- THE MAGIC BOAT - Naaman Azh
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Paatal Lok season two
Directors: Avinash Arun, Prosit Roy
Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong
Rating: 4.5/5