There are always people who feel the urge to show off their power to those less rich, or to those working in more menial jobs. We have all witnessed their displays of self-importance, but an incident a few weeks ago made me wonder about the effectiveness of such strategies. At an airport, a fellow passenger tried to prove to the ticketing agent that he knew the chief executive of the airline - or, even more significantly, that the CEO of the airline knew him.
With his superior tone and influential connections, he naturally deserved to be upgraded (so he thought). I later saw him fuming in his seat at the rear of the aircraft. Judging from the agent's look, I wouldn't be surprised if his luggage later landed hundreds of kilometres astray. A ticketing agent has to deal with thousands of people a day, though it may be fairer to say that thousands deal with him every day. It's no wonder that by midnight the person behind the desk is less than lively. The same is true for a taxi driver or a nurse. Many of us are already stressed at midnight and not exactly in the mood to be friendly to an annoyed and irritating stranger.
Fortunately, human dealings have some rules of engagement. In the corporate world, for example, it is said that the small investor is an entity to be reckoned with. Laws across the globe attempt to ensure that the rich and powerful don't trample on Average Mohammed's rights in the latest IPO. Cross the line and one starts to learn the difference between insider trading (also known as a prison sentence) and friendly counsel from a well-placed cousin.
Other dealings don't enjoy such protection. Most people are not discourteous - we just aren't brought up that way - but what if they are? There are hundreds of taxi drivers on the streets, and they probably won't remember your face even if you are rude to them. The no-need to-thank-you-it's-your-job attitude towards a barber for a meticulous haircut, or a housemaid for looking after a child while you are out partying carries no guilt. But not everyone carries this burden-free conscience. Why not?
To start with, much as we glorify ourselves, not all of us are rich and powerful. Not all know how to play the game, and those caught in the act, like my fellow passenger, find out who is boss very soon. And "little" people learn how to get their own back. Consider the example of a nurse. A nurse can let you in for your appointment on time - or "reorganise" your day. Ultimately, it is the nurse who decides how gentle to be when inserting a needle into your skin.
Similar experiences teach business people that tipping a farrash (also called a tea boy, even though he might have grey hair) in a government ministry can be their best investment for the day. He, and usually only he, can show you whom to see to get anything done in the labyrinth of a government building. A farrash knows that power is both the ability to award and to deny. There is one distinct group that we in the Gulf seem to have no qualms about mocking or demeaning. Witness the plight of the Asian (or to be politically incorrect, Indian) labourer. They built the Gulf for us. It is these men who worked - and continue to work - in 50 degree heat yet only recently have we started to recognise their humanity.
History has plenty of lessons for societies which collectively abuse a specific group. It is said that it was the grandchildren of the master architects and stonemasons who built and camouflaged the burial chambers of the Pharaohs and nobility of ancient Egypt who "inherited" the untold wealth from those very tombs. As recently as this year, the rubbish collectors of Italy demonstrated how much society depends on them, when they withdrew their services. The government effectively had to assign a garbage minister to deal with the resulting stink.
Other forms of retaliation exist, less drastic than strikes, but potentially more devastating. Why do you think that many bureaucrats lengthen a procedure to get something done? They need to show that they have muscle too, and will flex them. The ability to say, "come next week, I am too busy", creates a make-believe world of control and power. Like it or not, we all depend on each other, and total power does not exist. A tennis superstar needs an attentive ball boy, and even company chairmen report to their wives.
As I discuss these ideas with my physiotherapist - herself an occasional victim of alienation from "real doctors" - she suggests I add the following thought: "How many days can we survive without waste and garbage collectors? And how many without the high and mighty?" Anees Sultan is a writer and businessman based in Oman
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
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SERIES INFO
Afghanistan v Zimbabwe, Abu Dhabi Sunshine Series
All matches at the Zayed Cricket Stadium, Abu Dhabi
Test series
1st Test: Zimbabwe beat Afghanistan by 10 wickets
2nd Test: Wednesday, 10 March – Sunday, 14 March
Play starts at 9.30am
T20 series
1st T20I: Wednesday, 17 March
2nd T20I: Friday, 19 March
3rd T20I: Saturday, 20 March
TV
Supporters in the UAE can watch the matches on the Rabbithole channel on YouTube
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.”
Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
Sunday's Super Four matches
Dubai, 3.30pm
India v Pakistan
Abu Dhabi, 3.30pm
Bangladesh v Afghanistan
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Pakistan T20 series squad
Sarfraz Ahmed (captain), Fakhar Zaman, Ahmed Shahzad, Babar Azam, Shoaib Malik, Mohammed Hafeez, Imad Wasim, Shadab Khan, Mohammed Nawaz, Faheem Ashraf, Hasan Ali, Amir Yamin, Mohammed Amir (subject to fitness clearance), Rumman Raees, Usman Shinwari, Umar Amin
UAE currency: the story behind the money in your pockets
The specs
Engine: 3.6 V6
Transmission: 8-speed auto
Power: 295bhp
Torque: 353Nm
Price: Dh155,000
On sale: now
Kamindu Mendis bio
Full name: Pasqual Handi Kamindu Dilanka Mendis
Born: September 30, 1998
Age: 20 years and 26 days
Nationality: Sri Lankan
Major teams Sri Lanka's Under 19 team
Batting style: Left-hander
Bowling style: Right-arm off-spin and slow left-arm orthodox (that's right!)
the pledge
I pledge to uphold the duty of tolerance
I pledge to take a first stand against hate and injustice
I pledge to respect and accept people whose abilities, beliefs and culture are different from my own
I pledge to wish for others what I wish for myself
I pledge to live in harmony with my community
I pledge to always be open to dialogue and forgiveness
I pledge to do my part to create peace for all
I pledge to exercise benevolence and choose kindness in all my dealings with my community
I pledge to always stand up for these values: Zayed's values for tolerance and human fraternity
Squad
Ali Kasheif, Salim Rashid, Khalifa Al Hammadi, Khalfan Mubarak, Ali Mabkhout, Omar Abdulrahman, Mohammed Al Attas, Abdullah Ramadan, Zayed Al Ameri (Al Jazira), Mohammed Al Shamsi, Hamdan Al Kamali, Mohammed Barghash, Khalil Al Hammadi (Al Wahda), Khalid Essa, Mohammed Shaker, Ahmed Barman, Bandar Al Ahbabi (Al Ain), Al Hassan Saleh, Majid Suroor (Sharjah) Walid Abbas, Ahmed Khalil (Shabab Al Ahli), Tariq Ahmed, Jasim Yaqoub (Al Nasr), Ali Saleh, Ali Salmeen (Al Wasl), Hassan Al Muharami (Baniyas)
BRIEF SCORES
England 353 and 313-8 dec
(B Stokes 112, A Cook 88; M Morkel 3-70, K Rabada 3-85)
(J Bairstow 63, T Westley 59, J Root 50; K Maharaj 3-50)
South Africa 175 and 252
(T Bavuma 52; T Roland-Jones 5-57, J Anderson 3-25)
(D Elgar 136; M Ali 4-45, T Roland-Jones 3-72)
Result: England won by 239 runs
England lead four-match series 2-1
The biog
Name: Salvador Toriano Jr
Age: 59
From: Laguna, The Philippines
Favourite dish: Seabass or Fish and Chips
Hobbies: When he’s not in the restaurant, he still likes to cook, along with walking and meeting up with friends.
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The story of Edge
Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, established Edge in 2019.
It brought together 25 state-owned and independent companies specialising in weapons systems, cyber protection and electronic warfare.
Edge has an annual revenue of $5 billion and employs more than 12,000 people.
Some of the companies include Nimr, a maker of armoured vehicles, Caracal, which manufactures guns and ammunitions company, Lahab
Learn more about Qasr Al Hosn
In 2013, The National's History Project went beyond the walls to see what life was like living in Abu Dhabi's fabled fort:
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Wicked
Director: Jon M Chu
Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey
T20 WORLD CUP QUALIFIERS
Qualifier A, Muscat
(All matches to be streamed live on icc.tv)
Fixtures
Friday, February 18: 10am Oman v Nepal, Canada v Philippines; 2pm Ireland v UAE, Germany v Bahrain
Saturday, February 19: 10am Oman v Canada, Nepal v Philippines; 2pm UAE v Germany, Ireland v Bahrain
Monday, February 21: 10am Ireland v Germany, UAE v Bahrain; 2pm Nepal v Canada, Oman v Philippines
Tuesday, February 22: 2pm Semi-finals
Thursday, February 24: 2pm Final
UAE squad:Ahmed Raza(captain), Muhammad Waseem, Chirag Suri, Vriitya Aravind, Rohan Mustafa, Kashif Daud, Zahoor Khan, Alishan Sharafu, Raja Akifullah, Karthik Meiyappan, Junaid Siddique, Basil Hameed, Zafar Farid, Mohammed Boota, Mohammed Usman, Rahul Bhatia