ISIL has claimed responsibility for the carnage carried out at some of the French capital’s most popular nightspots, including a sold-out concert hall, at restaurants and bars and outside France’s national stadium. Thibault Camus / AP
ISIL has claimed responsibility for the carnage carried out at some of the French capital’s most popular nightspots, including a sold-out concert hall, at restaurants and bars and outside France’s natShow more

Accused Paris bomber declares his contempt for Belgian court



Appearing under high security and the focus of enduring survivor anguish, the last alleged perpetrator of the 2015 terror attacks on the Bataclan theatre in Paris, Salah Abdeslam declared his contempt for justice on Monday.

In front of Belgian judges, the suspect said he would refuse to testify in the four-day hearing said he would put his  "trust in Allah" as he refused to answer questions in the case related to an ambush in Brussels months after the French attack.

Lawyers for the suspect accept that he was in Paris on Friday, November 13, 2015, when gunmen and suicide bombers killed 130 at the Bataclan concert hall, Stade de France and at cafes and restaurants.

His elder brother, with whom he ran a bar in Brussels, was among those who blew himself up.

Prosecutors believe the surviving attacker ran logistics for the attack, including ferrying fighters from Syria across Europe, and would have met the same fate had his explosive vest not malfunctioned.

The 28-year-old has grown long hair and a beard during his nearly two years behind bars. He was transferred from a jail near the French capital overnight for the trial.

"I am not afraid of you, I am not afraid of your allies," he said. "I put my trust in Allah and that's all. My refusal does not make me a criminal.

A Belgian-born French national of Moroccan descent, he argued that the justice system was biased against his faith. "Muslims are judged and treated in the worst of ways, mercilessly. There is no presumption of innocence."

A bereaved relative of one of the victims told of his dismay outside the court.

"Regarding Salah Abdeslam, we hoped at one point that he would change his strategy but actually not only is he not doing that and staying quiet but the statements he is making are clearly malignant, a form of provocation," said Philippe Duperron, the president of a survivors association.

Abdeslam and Sofiane Ayari, a 24-year-old Tunisian arrested with him, face charges of attempted terrorist murder of police officers and carrying banned weapons.

During the hearing the federal prosecutor told the court that DNA evidence suggested it was Ayari who fired shots that wounded police officers in the ambush but that Abdeslam should be considered a conspirator. Both men accused of attempted murder of officer “in a terrorist context”

The fingerprints of the former bar owner were found in the flat targeted in the Brussels raid and Abdeslam is reported to have disposed of a suicide belt before fleeing.

Three days after the raid, armed officers shot Abdeslam in the leg and captured him and Ayari just yards from Abdeslam's home in Molenbeek, the troubled Brussels neighbourhood.

His arrest ended four months on the run as Europe's most wanted man following the November attacks.

He launched his diatribe after presiding judge Marie-France Keutgen asked why he insisted on attending the trial where he refused to answer questions about the charges against him.

The judge rejected his accusations of bias, insisting he was presumed innocent.

The non-jury trial is the prelude to a later one in France and prosecutors hope the Brussels case will yield clues not only about the Paris attacks but also Brussels bombings on March 22, 2016.

Investigators believe Abdeslam's capture three days after the shootout caused members of the cell to bring forward plans for the attacks on Brussels airport and a metro station in which 32 people were killed.

Ayari, who is cooperating with authorities, told the judge he knew Ibrahim Bakroui, one of the suicide bombers at Brussels airport, adding he visited the apartment where the shootout occurred.

The same cell is believed to have been behind both the Paris and Brussels attacks, which were claimed by the Islamic State group.

But Ayari -- who entered Europe via the Greek islands during the European migration crisis in 2015 -- insisted: "I don't think I am a radical."

The plans for transferring Abdeslam from Fleury-Merogis prison in the Parisian suburbs, and then back to a prison just across the border in northern France every night, were shrouded in secrecy.

Two separate convoys left Fleury-Merogis in the middle of the night with an escort of elite French officers with blue lights flashing, while a third group of unmarked vehicles left shortly afterwards.

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Install an air filter in your home.

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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.

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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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