The South African Nobel Prize-winning writer and anti-apartheid activist Nadine Gordimer, who became an icon through her unique insights into the country’s social agonies, has died at the age of 90.
Through 15 novels, several volumes of short stories, non-fiction and other works published in 40 languages around the world, Gordimer eviscerated white-minority rule under the apartheid system and its aftershocks once democracy had been achieved in 1994.
The writer, who was awarded the Nobel Prize for Literature in 1991, died peacefully in her sleep at her home in Johannesburg on Sunday, her lawyers said.
Her reputation rests on a series of novels including A Guest of Honour, The Conservationist, Burger's Daughter, July's People and A Sport of Nature, which the Nobel committee called "magnificent epic writing".
For Gordimer, her profession was an affliction.
“Writing is indeed, some kind of affliction in its demands as the most solitary and introspective of occupations,” she once said.
The anti-apartheid activist once said it was not truth itself which was beauty, but the hunger for it.
She found this hunger at a young age when, growing up in her well-off, racially segregated neighbourhood, she spent her childhood secluded in libraries.
“Only many years later was I to realise that if I had been a child in the black category I might not have become a writer at all, since the library that made this possible for me was not open to any black child,” she said in her Nobel acceptance speech.
Born on November 20, 1923, Gordimer grew up in an affluent suburb of the gold-mining town of Springs, east of Johannesburg.
Her mother believed she had a weak heart and often kept her home from school. With time on her hands, she started writing at the age of 9.
She published her first story, Come Again Tomorrow, in the children's section of a Johannesburg magazine when she was 14.
Gordimer came face-to-face with the liberation struggle when her best friend, Bettie du Toit, was arrested for anti-apartheid activities in 1960.
She went on to chronicle apartheid society, the liberation struggle, its forbidden friendships and its underground networks.
“To have lived to see the end coming, and to have had some tiny part in it has been extraodinary and wonderful,” Gordimer said after the end of apartheid in 1994.
In 2006 Gordimer presented the country’s first black president Nelson Mandela with Amnesty International’s Ambassador of Conscience Award, hailing his lifelong fight for justice.
“Nelson Mandela belongs to the world,” she said while underlining that South Africa’s elder statesman did not recoil from criticising the shortcomings in his beloved new Rainbow Nation.
In her final years she kept out of the public spotlight, preferring to commit her complex views on the country’s young democracy to paper than talk about them.
In one interview, she said of the new South Africa: “There are things that are remarkably good and things that are very, very worrying.”
French business
France has organised a delegation of leading businesses to travel to Syria. The group was led by French shipping giant CMA CGM, which struck a 30-year contract in May with the Syrian government to develop and run Latakia port. Also present were water and waste management company Suez, defence multinational Thales, and Ellipse Group, which is currently looking into rehabilitating Syrian hospitals.
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Director: Rohit Shetty
Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone
Rating: 3/5
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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.”
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
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UAE currency: the story behind the money in your pockets
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The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
The drill
Recharge as needed, says Mat Dryden: “We try to make it a rule that every two to three months, even if it’s for four days, we get away, get some time together, recharge, refresh.” The couple take an hour a day to check into their businesses and that’s it.
Stick to the schedule, says Mike Addo: “We have an entire wall known as ‘The Lab,’ covered with colour-coded Post-it notes dedicated to our joint weekly planner, content board, marketing strategy, trends, ideas and upcoming meetings.”
Be a team, suggests Addo: “When training together, you have to trust in each other’s abilities. Otherwise working out together very quickly becomes one person training the other.”
Pull your weight, says Thuymi Do: “To do what we do, there definitely can be no lazy member of the team.”
UJDA CHAMAN
Produced: Panorama Studios International
Directed: Abhishek Pathak
Cast: Sunny Singh, Maanvi Gagroo, Grusha Kapoor, Saurabh Shukla
Rating: 3.5 /5 stars