The brother of the Manchester Arena suicide bomber who is suspected of helping plan the UK atrocity has finally been extradited from Libya and charged with murder after a two year wait.
Salman Abedi, a 22-year-old Briton born to Libyan parents, blew himself up at the end of a show by US singer Ariana Grande in the deadliest militant attack in Britain for 12 years.
The terror attack killed 22 people and injured more than 500 others.
The UK had requested the extradition of his younger brother Hashem, 21, after police issued an arrest warrant against him for murder, attempted murder and conspiracy to cause an explosion.
But due to unrest in Libya his extradition had been delayed until now.
He was arrested at an airport in London on Wednesday as he stepped onto British soil and has been charged with murder, attempted murder and conspiracy to cause an explosion likely to endanger life.
The families of the 22 victims have waited for justice for their loved ones since May 2017 but now many fear there will be further delays in the case.
A pre-inquest review hearing is due to take place in Manchester on Monday.
But under British law criminal proceedings take precedent over an inquest.
Director of solicitor’s firm Broudie Jackson Canter, Elkan Abrahamson, who represents many of the families, told The National: “The concern of the families will be that the inquest and inquiry is not further delayed.
“Our stance is there is no reason why the criminal proceedings can’t conclude before April 2020. We will certainly be raising this.”
Abedi is expected to attend Westminster Magistrates Court to face charges.
On Wednesday, British Prime Minister Theresa May paid tribute to the victims' families.
She said: "We all know that the attack that took place in Manchester was appalling and senseless and this is clearly an important moment.
"I hope it is a welcome step for all the loved ones who have commanded themselves with such dignity at a deeply distressing time as they searched for justice.
"I would like to thank everyone who has helped us to come to this point."
Earlier on Wednesday, the force who was holding him in the Libyan capital Tripoli, the Special Deterrence Force (Rada), handed him to officers from Greater Manchester Police who escorted him back to the UK.
An Rada official said: "Hashem is now in the air on his way to the UK...he is extradited in accordance with a court verdict.
"We received an official letter from the head of the attorney general's investigations department, telling us to extradite Hashem Abedi to UK authorities based on a verdict by Tripoli's court of appeals."
Sources on the ground in Tripoli told The National that both the Ministry of Justice and the Interior Ministry in the Libyan capital had independently confirmed Abedi's extradition.
The ministries had enacted the extradition to the UK in accordance with an earlier court ruling.
They also confirmed the suspect had been held by Special Deterrent Forces, known as Rada, since he was arrested in 2017 in the aftermath of the Manchester bombing attack.
A Tripoli resident, who asked for his name to be withheld for security reasons, explained while locals had been saddened by Libyan involvement in the ISIS-inspired terror attack, Abedi’s extradition barely registered in the embattled city. “The lack of services leave people in Tripoli exhausted and they are working here and there just to provide for their daily needs,” he explained.
Rada, a counter-terrorism and anti-crime group aligned with the internationally recognised government in Tripoli, arrested Hashem shortly after the bombing on suspicion he had helped plan the attack.
Rada said at the time that the brothers had flown together to Libya in April 2017, before Salman returned to Britain to carry out the attack at the Manchester Arena in May.
The UN-backed Government of National Accord in Tripoli had agreed last year to his return to the UK but had been unable to convince the Rada to transfer him.
Even pleas by a UK coroner and the victims' families ahead of the second anniversary failed to see any movement in the case until now.
British police believe Hashem helped his brother to buy the materials used to make the explosive device used in the attack.
Hashem was living with his father, a Qaddafi-era dissident, and other family members in Tripoli at the time of the attack.
He was arrested by the militia days after the concert bombing and was being held in a prison near Tripoli airport.
Attempts to extradite him had also been hampered by the fact that as a dual national with British and Libyan citizenship, he could ask not to be extradited under Libyan law.
But the GNA Attorney General gave commitments to British diplomats to push forward.
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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New UK refugee system
- A new “core protection” for refugees moving from permanent to a more basic, temporary protection
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THE LOWDOWN
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Rating: 4/5
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Favourite books: 'Ruth Bader Ginsburg: A Life' by Jane D. Mathews and ‘The Moment of Lift’ by Melinda Gates
Favourite travel destination: Greece, a blend of ancient history and captivating nature. It always has given me a sense of joy, endless possibilities, positive energy and wonderful people that make you feel at home.
Favourite pastime: travelling and experiencing different cultures across the globe.
Favourite quote: “In the future, there will be no female leaders. There will just be leaders” - Sheryl Sandberg, COO of Facebook.
Favourite Movie: Mona Lisa Smile
Favourite Author: Kahlil Gibran
Favourite Artist: Meryl Streep
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.
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Champion County match
MCC v Surrey, four-day match, starting on Sunday, March 24, play starts at 10am
Both matches are at ICC Academy, Dubai Sports City. Admission is free.
White hydrogen: Naturally occurring hydrogen
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Hometown: Cologne, Germany
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Favourite dessert: Umm Ali with dark camel milk chocolate flakes
Favourite hobby: Football
Breakfast routine: a tall glass of camel milk
A new relationship with the old country
Treaty of Friendship between the United Kingdom of Great Britain and Northern Ireland and the United Arab Emirates
The United kingdom of Great Britain and Northern Ireland and the United Arab Emirates; Considering that the United Arab Emirates has assumed full responsibility as a sovereign and independent State; Determined that the long-standing and traditional relations of close friendship and cooperation between their peoples shall continue; Desiring to give expression to this intention in the form of a Treaty Friendship; Have agreed as follows:
ARTICLE 1 The relations between the United Kingdom of Great Britain and Northern Ireland and the United Arab Emirates shall be governed by a spirit of close friendship. In recognition of this, the Contracting Parties, conscious of their common interest in the peace and stability of the region, shall: (a) consult together on matters of mutual concern in time of need; (b) settle all their disputes by peaceful means in conformity with the provisions of the Charter of the United Nations.
ARTICLE 2 The Contracting Parties shall encourage education, scientific and cultural cooperation between the two States in accordance with arrangements to be agreed. Such arrangements shall cover among other things: (a) the promotion of mutual understanding of their respective cultures, civilisations and languages, the promotion of contacts among professional bodies, universities and cultural institutions; (c) the encouragement of technical, scientific and cultural exchanges.
ARTICLE 3 The Contracting Parties shall maintain the close relationship already existing between them in the field of trade and commerce. Representatives of the Contracting Parties shall meet from time to time to consider means by which such relations can be further developed and strengthened, including the possibility of concluding treaties or agreements on matters of mutual concern.
ARTICLE 4 This Treaty shall enter into force on today’s date and shall remain in force for a period of ten years. Unless twelve months before the expiry of the said period of ten years either Contracting Party shall have given notice to the other of its intention to terminate the Treaty, this Treaty shall remain in force thereafter until the expiry of twelve months from the date on which notice of such intention is given.
IN WITNESS WHEREOF the undersigned have signed this Treaty.
DONE in duplicate at Dubai the second day of December 1971AD, corresponding to the fifteenth day of Shawwal 1391H, in the English and Arabic languages, both texts being equally authoritative.
Signed
Geoffrey Arthur Sheikh Zayed
Mohammed bin Zayed Majlis
Name: Peter Dicce
Title: Assistant dean of students and director of athletics
Favourite sport: soccer
Favourite team: Bayern Munich
Favourite player: Franz Beckenbauer
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The struggle is on for active managers
David Einhorn closed out 2018 with his biggest annual loss ever for the 22-year-old Greenlight Capital.
The firm’s main hedge fund fell 9 per cent in December, extending this year’s decline to 34 percent, according to an investor update viewed by Bloomberg.
Greenlight posted some of the industry’s best returns in its early years, but has stumbled since losing more than 20 per cent in 2015.
Other value-investing managers have also struggled, as a decade of historically low interest rates and the rise of passive investing and quant trading pushed growth stocks past their inexpensive brethren. Three Bays Capital and SPO Partners & Co., which sought to make wagers on undervalued stocks, closed in 2018. Mr Einhorn has repeatedly expressed his frustration with the poor performance this year, while remaining steadfast in his commitment to value investing.
Greenlight, which posted gains only in May and October, underperformed both the broader market and its peers in 2018. The S&P 500 Index dropped 4.4 per cent, including dividends, while the HFRX Global Hedge Fund Index, an early indicator of industry performance, fell 7 per cent through December. 28.
At the start of the year, Greenlight managed $6.3 billion in assets, according to a regulatory filing. By May, the firm was down to $5.5bn.
EA Sports FC 25
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Consoles: Nintendo Switch, PlayStation 4&5, Xbox One and Xbox Series X/S
Rating: 3.5/5
