Quake near Bushehr is ominous


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Deadly earthquake not far from nuclear plant hints at what Iran's ambitions could bring it

As Fereidoun Abbasi, the head of the Atomic Energy Organisation of Iran, announced on Tuesday that the Russian contractor will hand over the Bushehr nuclear plant to Iranian experts this month, an earthquake measuring 6.3 on the Richter scale struck Iran at a location dangerously close to the nuclear site, wrote Tariq Al Homayed, a contributing columnist with the London-based newspaper Asharq Al Awsat.

He wrote: "This latest earthquake is yet another proof, a dry run, of the menace that a nuclear Iran poses to itself and to the region."

The hazardous situation is the result of not only Iran's politics - which is reason enough for concern - but also of its dangerous geographical location and poor safety systems and procedures.

The country has experienced several tremors in recent years that caused enormous damage. so much that Iran required assistance from foreign countries and organisations.

Aftershocks from Tuesday's earthquake were felt in several Gulf countries, including Bahrain, the UAE, Qatar and the eastern part of Saudi Arabia, causing panic in a few places.

One can only imagine what the effect of a similar incident would be if Iran, not Russia, had been in possession of the operational nuclear plant, the writer said.

"The earthquake is only a rehearsal this time as western powers have yet to make a breakthrough in the negotiations over Iran's nuclear issue," he wrote.

Tehran continues to offer flimsy justifications for enriching uranium. It takes advantage of some countries' manoeuvres to secure political gains in the game of interests with the West, as it does with Russia.

"The entire region is facing substantial and real danger, partly due to Iran's adventurous politics, and partly because of a lack of safety measures in the country. This puts the Arabian Gulf's security at risk," Al Homayed added.

The earthquake that left 37 people dead and more than 850 injured should be seen as an ultimatum to the international community that nature is controlled by none and that a nuclear disaster would prove to be far more lethal.

A hardline stance towards Iran's nuclear projects is imperative, especially at a time when the world faces threats from the reckless behaviour of some countries and leaders.

Only last week, North Korea's leader Kim Jong-un threatened a nuclear attack on the US, and no one can say for sure that Iran would not make similar threats in the future.

"In short, as an Arabic adage goes, one madman's mistake could wear down a hundred wise men. Similarly, the Iranian extremists' project could wear down the entire world. Therefore, the situation must be dealt with steadfastly," the writer concluded.

Egypt's Muslims and Christians are at peace

"So a Christian family lives right across from your apartment. You are a practising Muslim, your wife wears the hijab and your neighbour's wife does not. Your kids never miss the Friday prayer, and your neighbour's kids go to church every Sunday. How do you perceive your neighbour?"

This was the introduction to Sameer El Shahat's opinion article in yesterday's edition of the Cairo-based newspaper Al Ahram. He went on to make the argument that Muslim and Christian communities in Egypt are as close as siblings, contrary to how sectarian elements try to portray them.

"Have you ever tried to hurt your Christian neighbour or offend his family, just because he is from a different faith? Do your demons ever whisper into your ears that you, the Muslim, are better than him, because he is Christian? Have you ever secretly said to yourself that he is a second-class citizen, and you - because you are Muslim - are a first-class citizen?"

Those who try to project the common mindset of Egyptian Muslims along these lines must be mercenaries with an insidious agenda, the writer said.

"Do your neighbour's children play hockey, golf and baseball, or do they rather play football together with your children - Muslims and Christians on the same pitch?" he asked.

When walls turn into media battlegrounds

Walls, long used to avert clashes, are also used as a medium to wage media wars, wrote Khairi Mansour in the Sharjah-based newspaper Al Khaleej.

During the Lebanese civil war, walls carried political advertisements which, for some time, seemed like alternative journalism. At times, some walls turned into peaceful battlefields, as some painted on them and others erased those paintings. In today's Egypt, graffiti competes with newspapers and TV channels, the writer noted.

Arabs have an exceptional relationship to this form of art. During the time of the authoritarian regime, the streets were filled with pictures and statues of rulers. Asked about his opinion of the many bad statues, a ruler replied that people had the right to express their ideas and sentiments. Arab dictators allowed the people to express their ideas in that particular way, but prevented them from expressing their miseries.

Art, like a sword, is double-edged. It does not derive its value from its topics as much as from aesthetic dimensions, which in this case are tolerated because graffiti is popular and temporary.

Little has been said about wall paintings and statues of leaders who made themselves icons before they crumbled; change-seekers must avoid a repeat of that.

* Digest compiled by the Translation Desk

AIR
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Evacuations to France hit by controversy
  • Over 500 Gazans have been evacuated to France since November 2023
  • Evacuations were paused after a student already in France posted anti-Semitic content and was subsequently expelled to Qatar
  • The Foreign Ministry launched a review to determine how authorities failed to detect the posts before her entry
  • Artists and researchers fall under a programme called Pause that began in 2017
  • It has benefited more than 700 people from 44 countries, including Syria, Turkey, Iran, and Sudan
  • Since the start of the Gaza war, it has also included 45 Gazan beneficiaries
  • Unlike students, they are allowed to bring their families to France
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Lexus LX700h specs

Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor

Power: 464hp at 5,200rpm

Torque: 790Nm from 2,000-3,600rpm

Transmission: 10-speed auto

Fuel consumption: 11.7L/100km

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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.

“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.”

In%20the%20Land%20of%20Saints%20and%20Sinners
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Email sent to Uber team from chief executive Dara Khosrowshahi

From: Dara

To: Team@

Date: March 25, 2019 at 11:45pm PT

Subj: Accelerating in the Middle East

Five years ago, Uber launched in the Middle East. It was the start of an incredible journey, with millions of riders and drivers finding new ways to move and work in a dynamic region that’s become so important to Uber. Now Pakistan is one of our fastest-growing markets in the world, women are driving with Uber across Saudi Arabia, and we chose Cairo to launch our first Uber Bus product late last year.

Today we are taking the next step in this journey—well, it’s more like a leap, and a big one: in a few minutes, we’ll announce that we’ve agreed to acquire Careem. Importantly, we intend to operate Careem independently, under the leadership of co-founder and current CEO Mudassir Sheikha. I’ve gotten to know both co-founders, Mudassir and Magnus Olsson, and what they have built is truly extraordinary. They are first-class entrepreneurs who share our platform vision and, like us, have launched a wide range of products—from digital payments to food delivery—to serve consumers.

I expect many of you will ask how we arrived at this structure, meaning allowing Careem to maintain an independent brand and operate separately. After careful consideration, we decided that this framework has the advantage of letting us build new products and try new ideas across not one, but two, strong brands, with strong operators within each. Over time, by integrating parts of our networks, we can operate more efficiently, achieve even lower wait times, expand new products like high-capacity vehicles and payments, and quicken the already remarkable pace of innovation in the region.

This acquisition is subject to regulatory approval in various countries, which we don’t expect before Q1 2020. Until then, nothing changes. And since both companies will continue to largely operate separately after the acquisition, very little will change in either teams’ day-to-day operations post-close. Today’s news is a testament to the incredible business our team has worked so hard to build.

It’s a great day for the Middle East, for the region’s thriving tech sector, for Careem, and for Uber.

Uber on,

Dara

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Key findings of Jenkins report
  • Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
  • Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
  • Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
  • Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
UAE v Gibraltar

What: International friendly

When: 7pm kick off

Where: Rugby Park, Dubai Sports City

Admission: Free

Online: The match will be broadcast live on Dubai Exiles’ Facebook page

UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)

Tips for newlyweds to better manage finances

All couples are unique and have to create a financial blueprint that is most suitable for their relationship, says Vijay Valecha, chief investment officer at Century Financial. He offers his top five tips for couples to better manage their finances.

Discuss your assets and debts: When married, it’s important to understand each other’s personal financial situation. It’s necessary to know upfront what each party brings to the table, as debts and assets affect spending habits and joint loan qualifications. Discussing all aspects of their finances as a couple prevents anyone from being blindsided later.

Decide on the financial/saving goals: Spouses should independently list their top goals and share their lists with one another to shape a joint plan. Writing down clear goals will help them determine how much to save each month, how much to put aside for short-term goals, and how they will reach their long-term financial goals.

Set a budget: A budget can keep the couple be mindful of their income and expenses. With a monthly budget, couples will know exactly how much they can spend in a category each month, how much they have to work with and what spending areas need to be evaluated.

Decide who manages what: When it comes to handling finances, it’s a good idea to decide who manages what. For example, one person might take on the day-to-day bills, while the other tackles long-term investments and retirement plans.

Money date nights: Talking about money should be a healthy, ongoing conversation and couples should not wait for something to go wrong. They should set time aside every month to talk about future financial decisions and see the progress they’ve made together towards accomplishing their goals.

'The Sky is Everywhere'

Director:Josephine Decker

Stars:Grace Kaufman, Pico Alexander, Jacques Colimon

Rating:2/5

'Gold'

Director:Anthony Hayes

Stars:Zaf Efron, Anthony Hayes

Rating:3/5

Boston%20Strangler
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MATCH RESULT

Liverpool 4 Brighton and Hove Albion 0
Liverpool: 
Salah (26'), Lovren (40'), Solanke (53'), Robertson (85')    

Overall standings

1. Christopher Froome (GBR/Sky) 68hr 18min 36sec,

2. Fabio Aru (ITA/AST) at 0:18.

3. Romain Bardet (FRA/ALM) 0:23.

4. Rigoberto Uran (COL/CAN) 0:29.

5. Mikel Landa (ESP/SKY) 1:17.

Veil (Object Lessons)
Rafia Zakaria
​​​​​​​Bloomsbury Academic

Fast%20X
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Louis%20Leterrier%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Vin%20Diesel%2C%20Michelle%20Rodriguez%2C%20Jason%20Statham%2C%20Tyrese%20Gibson%2C%20Ludacris%2C%20Jason%20Momoa%2C%20John%20Cena%2C%20Jordana%20Brewster%2C%20Nathalie%20Emmanuel%2C%20Sung%20Kang%2C%20Brie%20Larson%2C%20Helen%20Mirren%20and%20Charlize%20Theron%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A
Profile

Company: Libra Project

Based: Masdar City, ADGM, London and Delaware

Launch year: 2017

Size: A team of 12 with six employed full-time

Sector: Renewable energy

Funding: $500,000 in Series A funding from family and friends in 2018. A Series B round looking to raise $1.5m is now live.

Gulf Under 19s final

Dubai College A 50-12 Dubai College B

World record transfers

1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
4. Cristiano Ronaldo - to Real Madrid in 2009/10 - €94m
5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
6. Neymar - to Barcelona in 2013/14 - €88.2m
7. Romelu Lukaku - to Manchester United in 2017/18 - €84.7m
8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
9. Angel di Maria - to Manchester United in 2014/15 - €75m
10. James Rodriguez - to Real Madrid in 2014/15 - €75m

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