Anti-coup protesters burn tyres and chant slogans during demonstrations against the military coup in Yangon. AP
Anti-coup protesters burn tyres and chant slogans during demonstrations against the military coup in Yangon. AP
Anti-coup protesters burn tyres and chant slogans during demonstrations against the military coup in Yangon. AP
Anti-coup protesters burn tyres and chant slogans during demonstrations against the military coup in Yangon. AP

Parcel bomb attacks blow up five opposition figures in Myanmar


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Blasts from at least one parcel bomb in Myanmar killed five people, including an ousted lawmaker and three police officers who had joined a civil disobedience movement opposing military rule, media reported.

Since the elected government led by Nobel laureate Aung San Suu Kyi was overthrown in a coup on February 1, Myanmar has seen an increasing number of small blasts in residential areas, and sometimes targeting government offices or military facilities.

The latest blasts were in a village in the southern central part of the nation in Western Bago and occurred at about 5pm on Monday, the Myanmar Now news portal reported, citing a resident.

Domestic media also reported that a junta-appointed local administrator had been stabbed to death in the main city, Yangon.

Three blasts were triggered when at least one parcel bomb exploded at a house in the village, killing a regional lawmaker from Ms Suu Kyi's National League of Democracy party, as well as the three police officers and a resident, the report said.

Another police officer involved in the civil disobedience movement was also severely wounded after his arms were blown off by the explosion, the resident was cited as saying. The officer was receiving treatment in a hospital.

Khit Thit media also reported the blasts, citing an unnamed NLD official in the area. The report could not be independently verified and a military spokesman didn’t answer a phone call seeking comment.

  • A man holds a National League for Democracy flag during a protest against the military coup in Yangon, Myanmar. Reuters
    A man holds a National League for Democracy flag during a protest against the military coup in Yangon, Myanmar. Reuters
  • Protesters set fire to tyres on a road to slow the progress of security forces in Yangon. Getty Images
    Protesters set fire to tyres on a road to slow the progress of security forces in Yangon. Getty Images
  • Protesters stand behind a barricade while waiting for security forces to approach in Yangon. Getty Images
    Protesters stand behind a barricade while waiting for security forces to approach in Yangon. Getty Images
  • A protester stands near a fire during a demonstration in Dala township, Yangon. AP Photo
    A protester stands near a fire during a demonstration in Dala township, Yangon. AP Photo
  • Protesters gesture with a three-finger salute in Thaketa township Yangon. AP Photo
    Protesters gesture with a three-finger salute in Thaketa township Yangon. AP Photo
  • Protesters hurl back tear gas canisters towards police in Mandalay. AP Photo
    Protesters hurl back tear gas canisters towards police in Mandalay. AP Photo
  • Protesters take cover during a protest against the military coup in Mandalay. EPA
    Protesters take cover during a protest against the military coup in Mandalay. EPA
  • Protesters take part in a demonstration against the military coup in Yangon's Tamwe township. AFP
    Protesters take part in a demonstration against the military coup in Yangon's Tamwe township. AFP
  • Protesters take part in a demonstration against the military coup in Yangon's Tamwe township. AFP
    Protesters take part in a demonstration against the military coup in Yangon's Tamwe township. AFP
  • A resident flashes the three-finger salute as demonstrators march during a protest against the military coup in Mandalay. EPA
    A resident flashes the three-finger salute as demonstrators march during a protest against the military coup in Mandalay. EPA
  • A protester walks past makeshift barricades set up to deter security forces in Yangon's Hlaing township. AFP
    A protester walks past makeshift barricades set up to deter security forces in Yangon's Hlaing township. AFP
  • A man stands behind a barricade during a protest against the military coup in Yangon. Reuters
    A man stands behind a barricade during a protest against the military coup in Yangon. Reuters
  • People stand on a barricade during a protest against the military coup in Yangon. Reuters
    People stand on a barricade during a protest against the military coup in Yangon. Reuters
  • Protesters extinguish fires during a protest in Thaketa township Yangon. AP Photo
    Protesters extinguish fires during a protest in Thaketa township Yangon. AP Photo
  • A man holds a makeshift gun in Yangon. Reuters
    A man holds a makeshift gun in Yangon. Reuters
  • Protesters prepare makeshift bow and arrows to confront police in Thaketa township Yangon. AP Photo
    Protesters prepare makeshift bow and arrows to confront police in Thaketa township Yangon. AP Photo
  • Family members cry in front of a man after he was shot dead during an anti-coup protesters crackdown in Yangon. Reuters
    Family members cry in front of a man after he was shot dead during an anti-coup protesters crackdown in Yangon. Reuters
  • A protester throws a smoke bomb in Thaketa township Yangon. AP Photo
    A protester throws a smoke bomb in Thaketa township Yangon. AP Photo
  • People walk on a street as barricades burn behind them in Mandalay. reuters
    People walk on a street as barricades burn behind them in Mandalay. reuters
  • Smoke rises over Thaketa township in Yangon as security forces continue their crackdown on protests against the military coup. AFP
    Smoke rises over Thaketa township in Yangon as security forces continue their crackdown on protests against the military coup. AFP

Violence has escalated since the coup, with hundreds reported killed by security forces, trying to quell pro-democracy protests in cities and rural towns.

Ethnic militias have also backed opposition to the junta, and the military is fighting these groups on the fringes of Myanmar.
The junta said it had to seize power because its complaints of fraud in a November election won by Ms Suu Kyi's party were not addressed by an election commission that deemed the vote fair.

Ms Suu Kyi, 75, has been detained since the coup along with many other members of her party. The AAPP says more than 3,600 people are currently in detention for opposing the military.

'Shakuntala Devi'

Starring: Vidya Balan, Sanya Malhotra

Director: Anu Menon

Rating: Three out of five stars

COMPANY%20PROFILE
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MATCH INFO

Uefa Champions League final:

Who: Real Madrid v Liverpool
Where: NSC Olimpiyskiy Stadium, Kiev, Ukraine
When: Saturday, May 26, 10.45pm (UAE)
TV: Match on BeIN Sports

Like a Fading Shadow

Antonio Muñoz Molina

Translated from the Spanish by Camilo A. Ramirez

Tuskar Rock Press (pp. 310)

COMPANY PROFILE
Name: Akeed

Based: Muscat

Launch year: 2018

Number of employees: 40

Sector: Online food delivery

Funding: Raised $3.2m since inception 

Global state-owned investor ranking by size

1.

United States

2.

China

3.

UAE

4.

Japan

5

Norway

6.

Canada

7.

Singapore

8.

Australia

9.

Saudi Arabia

10.

South Korea

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.”

Company profile

Date started: 2015

Founder: John Tsioris and Ioanna Angelidaki

Based: Dubai

Sector: Online grocery delivery

Staff: 200

Funding: Undisclosed, but investors include the Jabbar Internet Group and Venture Friends

ANDROID%20VERSION%20NAMES%2C%20IN%20ORDER
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Electric scooters: some rules to remember
  • Riders must be 14-years-old or over
  • Wear a protective helmet
  • Park the electric scooter in designated parking lots (if any)
  • Do not leave electric scooter in locations that obstruct traffic or pedestrians
  • Solo riders only, no passengers allowed
  • Do not drive outside designated lanes
The specs: 2017 Lotus Evora Sport 410

Price, base / as tested Dh395,000 / Dh420,000

Engine 3.5L V6

Transmission Six-speed manual

Power 410hp @ 7,000rpm

Torque 420Nm @ 3,500rpm

Fuel economy, combined 9.7L / 100km

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