Guard who stabbed woman 66 times to spend life in jail



A security guard who killed a woman by stabbing her 66 times was sentenced to life in prison.

In court 24-year-old Pakistani denied having murderous intent: "The stabbing happened while we were fighting but I didn't mean to kill her."
The victim's Indian boyfriend called police on February 18 this year after he found her body in their one-bedroom apartment in the English cluster of Dubai's International City.
The 38-year-old sales manager told police he had been living with his Filipino girlfriend for the past two years.
"She stopped working so we moved in the same flat together," he said, adding that he left her that day at 7.30am after the two had coffee.
He said she called him around 1pm and asked him to pay the Internet bill on his way home from work.

"When I got home I found the door slightly open then found her dead body face down on the ground," he said.
Police said the building's security guard helped them question tenants for two days, before officers noticed scratches on this face and arms and became suspicious of him.
"He was completely solid and normal as he helped us around the building during our initial investigations, then when we questioned him about the scratches on his face and arms, he said they happened by mistake while shaving," said an Emirati policeman, 35.
He said they also noticed a cut on one of his fingers and another on his knee.
"He denied at first but then admitted that he killed the woman as revenge because she screamed at him and kicked a water bucket he was using to clean the corridor next to her flat," said the officer.

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The guard admitted to planning the murder the same day after he had lunch. He told police he wore gloves and knocked on the woman's door, telling her he needed to check the apartment's alarm system.
"He then took her by surprise and stabbed her in the abdomen, and chest and the blade broke inside her body," the officer said.

He said the killer took a knife from the victim's kitchen and smashed a fish tank from her apartment on her head.
"He slipped because of the water and caused himself a small cut in the knee," said the officer.
The security guard then stole money from the victim's apartment then put on a coat from her wardrobe to hide the blood stains then hid the stolen cash in a water pipe in the building which he handed to police.
The gloves and the coat were found in a rubbish bin near the building.

The killer was sentenced to additional two years for theft and life in jail for premeditated murder. He will be deported after serving his term.

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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.”