Canada denies arrest in Hamas killing



OTTAWA // Canada has not arrested anyone on charges related to the killing of a Hamas commander in Dubai in January but cannot rule out that someone might have been arrested and imprisoned on other charges, a senior Canadian government official said last night.

They have also determined that nobody travelling under any of the names on Interpol's international watch list in connection with the killing of Mahmoud al Mabhouh has been arrested, but concede that a suspect could have entered Canada using a different identity.

A senior Canadian government official, who spoke on condition of anonymity, said Canada's national police force, the Royal Canadian Mounted Police (RCMP), has been working hard in recent days to verify the Dubai police chief Dahi Khalfan Tamim's statement that Canada arrested a suspect this summer in connection with the high-profile killing.

Gen Tamim said he was told of the arrest by a Canadian official but complained the country's government has since refused to provide any details.

Following Gen Tamim's statement, the RCMP scoured its files and those of other police forces in Canada to investigate the claim.

The problem, said the official, is that Gen Tamim did not provide the name of the suspect nor the Canadian official who told him someone had been arrested.

Without that, trying to determine whether a suspect had been arrested was like searching for a needle in a haystack, the official said. It also made it hard to say definitively that no one had been arrested.

"The RCMP's problem is that this mystery person could be travelling in Canada with papers that say his name is Bob Jones and he could be in the Kamloops jail right this second for shoplifting and they have no idea. Nobody has anybody in custody in connection with this [Dubai)] crime. So they just don't know what to make of this."

The comments come a day after Vic Toews, the Canadian public safety minister, said in Vancouver that the RCMP had told him they had made no arrest in connection with the Dubai killing. Nor could any other law enforcement agency have made an arrest without making it public, he said.

Al Mabhouh was killed in his Dubai hotel room in January in what appeared to be a sophisticated operation involving several suspects who held passports from countries including Britain, France, Germany and Australia.

In February, Dubai Police accused Israel of engineering the killing. Israel has not responded to the allegations. In August, one suspect was detained in Poland, then handed over to Germany, which freed him on bail.

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If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.

When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.

How to get there: Emirates currently flies from Dubai to Orlando five times a week.

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.”

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 Land between Two Rivers: Writing in an Age of Refugees
Tom Sleigh, Graywolf Press

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