Rafsanjani breaks his silence



Ending more than two weeks of silence, Iran's former president Akbar Hashemi Rafsanjani issued a statement on Sunday calling for a fair and thorough examination of complaints about this month's disputed election. "The developments following the presidential vote were a complex conspiracy plotted by suspicious elements with the aim of creating a rift between the people and the Islamic establishment and causing them to lose their trust in the system," Mr Rafsanjani said Sunday. "Such plots have always been neutralised whenever the people have entered the scene with vigilance." Iran's state-funded Press TV said: "In his Sunday remarks, Rafsanjani praised the Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei for extending by five days the Guardian Council's deadline to review issues pertaining to the elections and removing the ambiguities surrounding it. " 'This valuable move by the Leader to restore the people's confidence in the election process was very effective,' he said. "He expressed hope that 'those who are tasked with this issue (election) can thoroughly and fairly review and study the legal complaints.'" Meanwhile, the Los Angeles Times reported that an unauthorised rally in front of the Ghoba mosque in Tehran on Sunday was attended by thousands of supporters of Mir Hossein Mousavi. "According to a witness, who has previously provided accurate information to The Times, numerous opposition figures attended the rally, including presidential candidate Mehdi Karroubi; Mousavi's wife, Zahra Rahnavard; and both the daughter and wife of Ayatollah Ali Akbar Hashemi Rafsanjani, a Mousavi supporter. "The witness said pro-government Basiji militiamen and plainclothes security officials on motorbikes surrounded the ralliers and that Mousavi himself addressed the gathering by cellphone, which was attached to a megaphone, but the witness could not hear what he said." On Saturday, Press TV reported that Mr Mousavi has proposed that an arbitration committee be formed to probe into election irregularities. "In a letter to the Guardian Council, Mousavi reiterated his position on the final result of the election and said that nullifying the disputed vote would be the most 'appropriate' solution to the ongoing situation and 'a means to rebuild public confidence'. " 'The Guardian Council has announced that it does not have the authority to look into some of the breaches that have occurred in the tenth presidential elections. Some of the complaints of violation and bias have also been filed against certain members of the Guardian Council as well as the interior minister himself and other executive election officials,' Mousavi wrote. " 'Therefore, the Guardian Council or a committee it has chosen, cannot be expected to pass fair judgment in this case, particularly as some of the individuals selected for the committee have adopted a bias position in these elections and have taken stance toward the results before any inquiry,' he added. "Mousavi then proposed an 'independent, religious, and legal' committee, accepted by all presidential contenders and supported by top clerical figures for settling the issues that arose after the June 12 elections." Bloomberg reported: "President Mahmoud Ahmadinejad vowed to take a tougher approach toward the West during his second term, saying the Obama administration's criticism of his crackdown on dissent after the June 12 election shows its offer of talks on Iran's nuclear program isn't genuine. " 'If they think the government will be influenced, they're wrong,' Ahmadinejad told judiciary officials at a conference yesterday in Tehran, in comments aired on state television. 'The government will have a more powerful and decisive approach in the new term.' He called Western leaders 'the arrogants'." In what might be seen as a demonstration of this tougher approach by the Iranian government, The New York Times reported that several Iranian employees of the British embassy were arrested. "The government's arrest of nine Iranian employees of the British embassy marked a significant escalation in its conflict with Britain, which Tehran has sought to cast as an instigator of the unrest since the disputed June 12 election. It said the embassy employees played a significant role in organizing the protests, which have reached across the country and across social and economic lines. "Tehran also continued to charge journalists with working as agents of discord, publishing one editor's 'confession' while continuing to keep others behind bars without charge or barred from working. "The arrests, detentions and restrictions added to Iran's growing international isolation, as European Union foreign ministers meeting in Corfu, Greece, warned in a statement that there would be a 'strong and collective EU response' to any intimidation of its members' diplomatic staffs. The British foreign ministry said some of its personnel had been released, but declined to provide details." As reliable reporting has become increasingly difficult, Farhad Manjoo writing in Slate noted the conflicting accounts about attacks on protesters in Tehran's Baharestan Square on Wednesday and that the ensuing confusion demonstrated the effectiveness of media supression. "Over the last couple of weeks, those who believe in the transformative powers of technology have pointed to Iran as a test case - one of the first repressive regimes to meet its match in social media, the first revolution powered by Twitter. Even in the early days of the protest, that story line seemed more hopeful than true, as Slate's Jack Shafer, among many others, pointed out. Since last week, though, when the state began to systematically clamp down on journalists and all communications networks leading out of the country, hope has become much harder to sustain. The conflicting accounts about what happened at Baharestan Square are evidence that Iran's media crackdown is working. The big story in Iran is confusion - on a daily basis, there are more questions than answers about what's really happening, about who's winning and losing, about what comes next. The surprise isn't that technology has given protesters a new voice. It's that, despite all the tech, they've been effectively silenced. "The crackdown in Iran shows that, for regimes bent on survival, squashing electronic dissent isn't impossible. In many ways, modern communication tools are easier to suppress than organising methods of the past. According to The Wall Street Journal, Iran has one of the world's most advanced surveillance networks. Using a system installed last year (and built, in part, by Nokia and Siemens), the government routes all digital traffic in the country through a single choke point. Through 'deep packet inspection,' the regime achieves omniscience - it has the technical capability to monitor every e-mail, tweet, blog post, and possibly even every phone call placed in Iran. Compare that with East Germany, in which the Stasi managed to tap, at most, about 100,000 phone lines - a gargantuan task that required 2,000 full-time technicians to monitor the calls. The Stasi's work force comprised 100,000 officers, and estimates put its network of citizen informants at half a million. In the digital age, Iran can monitor its citizens with a far smaller security apparatus. They can listen in on everything anyone says - and shut down anything inconvenient - with the flip of a switch."

pwoodward@thenational.ae

'The Last Days of Ptolemy Grey'

Rating: 3/5

Directors: Ramin Bahrani, Debbie Allen, Hanelle Culpepper, Guillermo Navarro

Writers: Walter Mosley

Stars: Samuel L Jackson, Dominique Fishback, Walton Goggins

Paatal Lok season two

Directors: Avinash Arun, Prosit Roy 

Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong

Rating: 4.5/5

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 Sand Castle

Director: Matty Brown

Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea

Rating: 2.5/5

The Two Popes

Director: Fernando Meirelles

Stars: Anthony Hopkins, Jonathan Pryce 

Four out of five stars

Emergency

Director: Kangana Ranaut

Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry 

Rating: 2/5

THE SIXTH SENSE

Starring: Bruce Willis, Toni Collette, Hayley Joel Osment

Director: M. Night Shyamalan

Rating: 5/5

COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
If you go

The flights
There are various ways of getting to the southern Serengeti in Tanzania from the UAE. The exact route and airstrip depends on your overall trip itinerary and which camp you’re staying at. 
Flydubai flies direct from Dubai to Kilimanjaro International Airport from Dh1,350 return, including taxes; this can be followed by a short flight from Kilimanjaro to the Serengeti with Coastal Aviation from about US$700 (Dh2,500) return, including taxes. Kenya Airways, Emirates and Etihad offer flights via Nairobi or Dar es Salaam.   

ADCC AFC Women’s Champions League Group A fixtures

October 3: v Wuhan Jiangda Women’s FC
October 6: v Hyundai Steel Red Angels Women’s FC
October 9: v Sabah FA

Essentials

The flights
Whether you trek after mountain gorillas in Rwanda, Uganda or the Congo, the most convenient international airport is in Rwanda’s capital city, Kigali. There are direct flights from Dubai a couple of days a week with RwandAir. Otherwise, an indirect route is available via Nairobi with Kenya Airways. Flydubai flies to Kinshasa in the Democratic Republic of Congo, via Entebbe in Uganda. Expect to pay from US$350 (Dh1,286) return, including taxes.
The tours
Superb ape-watching tours that take in all three gorilla countries mentioned above are run by Natural World Safaris. In September, the company will be operating a unique Ugandan ape safari guided by well-known primatologist Ben Garrod.
In the Democratic Republic of Congo, local operator Kivu Travel can organise pretty much any kind of safari throughout the Virunga National Park and elsewhere in eastern Congo.

COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
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Jumanji: The Next Level

Director: Jake Kasdan

Stars: Dwayne Johnson, Kevin Hart, Karen Gillan, Jack Black, Nick Jonas 

Two out of five stars 

THE BIO

Family: I have three siblings, one older brother (age 25) and two younger sisters, 20 and 13 

Favourite book: Asking for my favourite book has to be one of the hardest questions. However a current favourite would be Sidewalk by Mitchell Duneier

Favourite place to travel to: Any walkable city. I also love nature and wildlife 

What do you love eating or cooking: I’m constantly in the kitchen. Ever since I changed the way I eat I enjoy choosing and creating what goes into my body. However, nothing can top home cooked food from my parents. 

Favorite place to go in the UAE: A quiet beach.

The specs

Engine: 2.0-litre four-cylinder turbo

Power: 178hp at 5,500rpm

Torque: 280Nm at 1,350-4,200rpm

Transmission: seven-speed dual-clutch auto

Price: from Dh209,000 

On sale: now

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COMPANY PROFILE
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Sectors: Internet, e-commerce
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What can you do?

Document everything immediately; including dates, times, locations and witnesses

Seek professional advice from a legal expert

You can report an incident to HR or an immediate supervisor

You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline

In criminal cases, you can contact the police for additional support

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%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EAlmouneer%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202017%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Dr%20Noha%20Khater%20and%20Rania%20Kadry%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EEgypt%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%20%3C%2Fstrong%3E120%3Cbr%3E%3Cstrong%3EInvestment%3A%20%3C%2Fstrong%3EBootstrapped%2C%20with%20support%20from%20Insead%20and%20Egyptian%20government%2C%20seed%20round%20of%20%3Cbr%3E%243.6%20million%20led%20by%20Global%20Ventures%3Cbr%3E%3C%2Fp%3E%0A