At least 50 dead in Iran protest crackdown, says NGO


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At least 50 people have reportedly been killed in Iran in a crackdown on anti-government protests triggered by the death of Mahsa Amini, Norway-based IHR NGO said on Friday.

State-organised demonstrations took place in several Iranian cities on Friday to counter the anti-government protests, with some marchers calling for the execution of protesters.

The demonstrations followed the strongest warning from the authorities yet, when the army told Iranians it would confront “the enemies” behind the unrest.

“At least 50 people killed so far, and people continue protesting for their fundamental rights and dignity,” the organisation's director M Amiry-Moghaddam wrote on Twitter.

“Restrictions on the internet. International community must stand by Iranian people against one of our time’s most suppressive regimes.”

Demonstrators had earlier condemned the anti-government protesters as “Israel's soldiers”, live state television coverage showed.

They also shouted “Death to America” and “Death to Israel”, slogans commonly used by the country's clerical rulers to try to stir up support for authorities.

“Offenders of the Quran must be executed,” the crowds chanted.

Iranians have staged mass protests over the case of Amini, 22, who died last week after being arrested by the morality police due to her wearing “unsuitable attire”.

Iran's President Ebrahim Raisi said on Friday her death would be “steadfastly” investigated.

The morality police, attached to Iran's law enforcement, are responsible for ensuring the respect of Islamic morals as described by the country's clerical authorities.

Amini's death has reignited anger over issues including restrictions on personal freedoms in Iran, strict dress codes for women and an economy reeling from sanctions.

A protester cuts her hair during a rally against the Iranian regime outside the House of Representatives in The Hague on September 23, 2022, after the death of Mahsa Amini, 22, after her arrest by Iran's morality police in Tehran. AFP
A protester cuts her hair during a rally against the Iranian regime outside the House of Representatives in The Hague on September 23, 2022, after the death of Mahsa Amini, 22, after her arrest by Iran's morality police in Tehran. AFP

The Iranian army's message on Friday, seen as a warning to protesters enraged by the death, read: “These desperate actions are part of the evil strategy of the enemy to weaken the Islamic regime.”

The military said it would “confront the enemies' various plots in order to ensure security and peace for the people who are being unjustly assaulted”.

Intelligence Minister Mahmoud Alavi also on Friday warned “seditionists” that their “dream of defeating religious values and the great achievements of the revolution will never be realised”, according to the Asriran website.

The anti-government protests were especially strong in Amini's home province of Kurdistan and nearby areas. State television said two caches of weapons, explosives and communications equipment were seized and two people were arrested in north-west Iran, which includes the border with Iraq where armed Kurdish dissident groups are based.

Internet blockage watchdog NetBlocks said mobile internet has been disrupted in Iran for a third time.

“Live metrics show a nation-scale loss of connectivity on leading cellular operator MCI,” it said on Twitter.

Mobile internet had been partially reconnected overnight.

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  • For most entry-level jobs, your resume will first be filtered by an applicant tracking system for keywords. Look closely at the description of the job you are applying for and mirror the language as much as possible (while being honest and accurate about your skills and experience).
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Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

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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.”

Global state-owned investor ranking by size

1.

United States

2.

China

3.

UAE

4.

Japan

5

Norway

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Canada

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Singapore

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Australia

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Saudi Arabia

10.

South Korea

Company info

Company name: Entrupy 

Co-founders: Vidyuth Srinivasan, co-founder/chief executive, Ashlesh Sharma, co-founder/chief technology officer, Lakshmi Subramanian, co-founder/chief scientist

Based: New York, New York

Sector/About: Entrupy is a hardware-enabled SaaS company whose mission is to protect businesses, borders and consumers from transactions involving counterfeit goods.  

Initial investment/Investors: Entrupy secured a $2.6m Series A funding round in 2017. The round was led by Tokyo-based Digital Garage and Daiwa Securities Group's jointly established venture arm, DG Lab Fund I Investment Limited Partnership, along with Zach Coelius. 

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EU Russia

The EU imports 90 per cent  of the natural gas used to generate electricity, heat homes and supply industry, with Russia supplying almost 40 per cent of EU gas and a quarter of its oil. 

Updated: September 24, 2022, 5:09 AM