A man wielding a machete stormed two churches in southern Spain late on Wednesday, killing a church official and seriously injuring a priest, the government said.
The attack took place in the port city of Algeciras in Spain's southern Andalusia region, with prosecutors immediately opening a terrorism investigation.
"Just after 7pm this evening, a man entered the church of San Isidro in Algeciras where, armed with a machete, he attacked the priest, leaving him seriously wounded," the Interior Ministry said.
"Subsequently, he entered the church of Nuestra Senora de La Palma in which, after causing damages, he attacked the verger.
"The verger managed to get out of the church but was caught by the attacker outside and sustained mortal injuries."
The Ministry said he had died on the spot.
"Moments later, [the assailant] was disarmed and arrested and is currently in police custody," it said.
The two churches are several hundred metres apart in an area very close to the port.
Police initially said several people had been wounded but later clarified it was only the priest, with the emergency services confirming he had sustained injuries "to the neck".
The Mayor of Algeciras said the verger who died was Diego Valencia. He identified the priest as Antonio Rodriguez.
In a post on Twitter, the local congregation said Rodriguez, 74, had been celebrating the Eucharist at San Isidro church when he was attacked. They described his condition as "serious but stable".
A police source told AFP the assailant was wearing a long robe and had "shouted something" as he carried out the attack.
Witnesses at Nuestra Senora de La Palma told local media that a man ran into the building about 7.30pm, just as they were finishing the Eucharist service.
They said he was shouting and had started to throw icons, crosses and candles to the floor.
Prosecutors opened an investigation that is being led by a judge from the Audiencia Nacional, Spain's top criminal court, which handles terrorism-related cases.
Police did not identify the suspect but released a video in which he is seen from behind wearing a black, white and grey hoodie and black trousers, and being led away handcuffed by two police officers.
Algeciras town hall said it would hold an official day of mourning on Thursday when flags would be lowered to half-mast. A demonstration would take place at midday to express outrage at the bloodshed.
The attack drew swift condemnation from across the political spectrum.
"I send my deepest condolences to the families of the verger who die in this terrible attack," Prime Minister Pedro Sanchez wrote on Twitter, wishing a quick recovery to the injured priest.
Opposition leader Alberto Nunez Feijoo of the right-wing Popular Party said he was "appalled" by the incident.
Police have not commented on the possible motives, or political and religious affiliation of the attacker.
But the incident was denounced by the local Muslim community, which said it condemned "the brutal and vicious attack in Algeciras" and deplored the verger's death.
"These criminal acts, which some want to link to Islam or Muslims, tarnish the coexistence that society in Algeciras has historically enjoyed," it said on the Facebook account of Ishbilia mosque in Seville, the regional capital.
"These reprehensible acts are far from our religion and the Muslim community."
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 BIO: Mohammed Ashiq Ali
Proudest achievement: “I came to a new country and started this shop”
Favourite TV programme: the news
Favourite place in Dubai: Al Fahidi. “They started the metro in 2009 and I didn’t take it yet.”
Family: six sons in Dubai and a daughter in Faisalabad
Why your domicile status is important
Your UK residence status is assessed using the statutory residence test. While your residence status – ie where you live - is assessed every year, your domicile status is assessed over your lifetime.
Your domicile of origin generally comes from your parents and if your parents were not married, then it is decided by your father. Your domicile is generally the country your father considered his permanent home when you were born.
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