It takes about 60 seconds to realise that Margaret Atwood doesn't answer questions so much as use them as springboards for her quicksilver mind to jump into thin air, turn somersaults, twist and spin as it pleases. Atwood tends to land elegantly, without a wobble, but often a long distance from where the discussion began.
The 73-year-old has earned the right to talk in whatever way she wants. Over a career spanning 50 years, she has won the Man Booker Prize for 2000's The Blind Assassin, and should have won another for The Handmaid's Tale in 1986. A worthy future Nobel laureate, her work includes poetry and children's writing, literary criticism and collaborative zombie fiction (with the British novelist Naomi Alderman), short stories and her recently completed dystopian trilogy.
Atwood's body of work has established her not just as a great writer, but as a sort of prophet: whether she is writing about the female body in an age of consumerism (1969's The Edible Woman), reproduction and women's rights (The Handmaid's Tale), or genetic engineering and environmental collapse.
This is one theme explored in Atwood's new novel MaddAddam, the final part of a monumental dystopian trilogy that began a decade ago with Oryx and Crake and continued with The Year of the Flood. Yet over the next hour, Atwood skips merrily across topics that include: the gender politics of witches and wizards, teen reading habits, Twitter, demonic possession, the importance of opening sentences, The Lord of the Rings, shark fishing, re-introducing elephants into the wild, alcoholic romance writers and her daughter's childish attempts at the theatre of the absurd. She covers much of this ground before we have even sat down.
Atwood's mind, like her fiction, revels in making unexpected connections. In her writing, the results can be comic, satiric, horrific or tragic. In conversation, it makes Atwood somewhat elusive, while keeping her interrogator somewhat off balance. Her preferred form of response, aptly enough, is the anecdote, delivered with considerable dramatic flair and a gift for impersonation. "When the children were very young, my daughter [Eleanor] and her pal said they were going to put on a play. They charged us 25 cents [92 fils], or some other outrageous amount, for tickets." The entertainment consisted of Atwood and her long-term partner Graeme Gibson being served breakfast. "Did we want orange juice and toast? Some jam?" Atwood continues. "It was getting quite a lot like a Pinter play or a piece by Beckett. I thought we were going to get to it when they asked, Would you like some more orange juice? Is anything else going to happen? They said, No. I said, Then we are leaving."
Atwood tells the tale to illustrate the perils of having an idea for a story, but no plot. Atwood herself abandoned a novel after 200 pages for this very reason. "It didn't work because I was trying to be too tidy. I had it all mapped out on filing cards." The elaborate scheme organised eight characters, each of whom narrated a chapter within a five-section novel. "That makes 40 sections," she notes dryly. Atwood had completed 16 chapters before she realised the book was going nowhere. "I knew all about the characters. What they had for breakfast, what was in their bureau drawer, who their mothers and fathers were. But no events had taken place and I wasn't writing Tristram Shandy. I couldn't think of anything for them to do. They were just being."
Atwood in person is often portrayed as chilly, intellectual and remote. One recent interviewer referred to her habitual sarcasm. Another described her in terms that brought to mind the Ice Queen in The Lion, the Witch and the Wardrobe.
The Atwood I encounter is not so much forbidding as forthright. She doesn't, I suspect, suffer fools gladly, and foolish questions even less. When I ask what happens when she writes herself into narrative cul de sacs, I receive a figurative smack on the wrist.
"Don't tell anybody," she says, leaning in, "but you can write more than one draft. And if you come to a place where you realise that you have really screwed up." Atwood starts to whisper, "you can take it out of the manuscript. I like the idea of the wastepaper basket." Atwood could condescend for Canada, but she is also playful, engaged, irreverent and unstuffy. She has fun stirring her coffee with a Biro belonging to an editor at her London publishers. "The pen has been disarranged," she says returning it to his desk. "Who has been using my pen?" Later, when our time runs out, she cheerfully requests that I accompany her to her next engagement - a packed signing at a nearby bookstore.
At first, however, Atwood is simply late, courtesy of a television appearance at the BBC. When she finally arrives at the reception area of her publishers, Bloomsbury, my first thought, as often when confronted by world-famous people in real life, is she looks smaller than I imagined. Her impact, however, is large and immediate. As she passes through Bloomsbury's offices, every eye looks up, and every face smiles. Atwood waves with almost regal friendliness and says hi. She talks as she walks, and in fact doesn't stop talking for most of the next 50 minutes.
Again like her fiction, Atwood's conversation shuttles between the elevated (she compares Neil Gaiman's penchant for bad witches to Orestes) and the populist: she describes one of his characters by alluding to Men in Black. The reaction to Atwood at the beginning of her career could not have been more different. "I enjoy interviews a lot more than I used to. When I first started, people asked questions like, 'Writers are really weird and you're certainly one of them.' Or, 'What makes you think girls can write?' Remember, this was a long time ago. Remember how old I was: under 30. And remember what wasn't happening yet: all these girl writers selling a lot of copies. The writing scene after the war was mostly men, pretty monolithically: Norman Mailer, John Updike. There weren't many writers at all in Canada. I enjoy interviews a lot more than I used to because people know better than to ask me questions like those."
Writing for Atwood, like so many subjects she discusses today, is framed in eminently practical terms. When I ask how she found her voice in a literary landscape shaped by Ernest Hemingway and dominated by Mailer, she doesn't describe the evolution of her poetry or her first novel, The Edible Woman, but how she managed the practicalities of getting published. "I read a magazine called Writer's Market. I learnt about submitting the self-addressed and stamped envelope, about double spacing your manuscript and numbering the pages. Which is very good advice."
One could interpret such insistence on artistic pragmatism as Atwood refusing to discuss her creative imagination in any depth. "Well, you wouldn't want to [write a trilogy] while drinking," she deadpans when I enquire about her writing process. "I use a lot of coffee, a lot of Post-it notes. And there is this really handy device called the paper and pencil. You can make notes."
But I suspect this tone also reflects an eminently down-to-earth, industrious side of Atwood's nature that has enabled her to produce over 80 books (novels, short story collections, poetry volumes, libretti and scripts) in five decades. Atwood speaks comparable common sense when our conversation turns to the grant narratives raised by MaddAddam: genetic modification, the environment, and fears of imminent apocalypse. Is the planet on the brink of extinction?
"No, not quite. The area around Chernobyl is apparently a wildlife refuge at the moment. So is the demilitarised zone between North and South Korea." Atwood cites George Monbiot's new book Feral, about how de-populated areas in Europe are becoming 're-wilded'. "It has its zanier moments - I don't think the English public is going to accept the re-introduction of elephants running hither and thither. But nature comes back quite quickly, maybe not the same as before. If you doubt me, just cease to repair your house for a while and you will be amazed at the menagerie that takes up residence."
The way to reverse our over-consumption of the Earth's resources is, for Atwood, simplicity itself: "If we stop disappearing animals, they will come back," she says bluntly, before citing the re-emergence of the whooping crane, whose numbers have risen from 25 to 600, and the decimation of sharks, whose fins are a delicacy across Asia. "When the shark population gets down to near nothing, shark fin soup will disappear because nobody will be able to catch any sharks anymore. If people are really that dedicated to their shark fin soup, they should really be dedicated to the preservation of sharks. So why aren't they setting up shark parks?"
The sticking point, Atwood argues, is that short-term economic incentives always tend to override long-term plans to conserve the planet's wildlife. "That's what counts if you are poor," Atwood explains. "If you are poor, it is really crucial to the survival of your family whether you have got this much money next week. As a species we are not designed to say, I just won't eat for two years. Try that and you'll die."
Atwood doesn't mean to sound depressing. In fact, when I ask whether she is optimistic or pessimistic about humankind, she rejects the terms of the question. "It's not even optimism. It's just how human beings behave. We are usually quite nice. But it's like that shark fisherman. He's being nice to his family. He's just not being very nice to the sharks."
Atwood's fundamental, if sceptical faith in human nature is one reason she has taken to Twitter with enthusiasm. She describes the to and fro of tweeting and re-tweeting as teaching positive lessons in how to give and take. "You hope that if you re-tweet somebody, they will do it for somebody else. It's not that you expect anything in particular at that moment. Otherwise it would be commerce."
By this time, we are talking and walking towards Atwood's book signing. You can see the impressive queue from some distance. I try one final question. Does she believe that literature can still reach an audience and change people for the better? Atwood looks over at me, and says. "Let me tell you a joke. A man wants to know the meaning of life. He hears of a guru on top of a mountain. He travels for months and years. He runs out of money. He is unable to walk, and crawls all the way up the mountain. He finds the guru sitting in the cave. 'O great guru, I have sold all my possessions, and travelled for months and years. I have run out of money and have crawled up the mountain to ask you, O great guru, what is the meaning of life?' The guru says, 'Life is a fountain.' The man says, 'What? You mean I sold all my possessions, travelled for months and years, crawled up the mountain and all you can tell me is, Life is a fountain?' So the guru says, 'So, life isn't a fountain'."
Atwood looks me directly in the eye and says. "I really don't have the answer to all the questions about human nature that you are asking me. Life is a fountain. Life isn't a fountain. Writing is a way of solidifying language. Sometimes it is good. Sometimes it's by Adolf Hitler. That is writing too."
Atwood smiles and turns to meet her public. Perhaps this is why she makes sport out of answering journalists' questions. Hard experience has taught her that there are simply no easy answers, no matter how desperately people want her to provide them. As she enters the bookshop, it occurs to me that Atwood is not a prophet foreseeing our near future nor a guru guarding the meaning of life. She is much too wise and funny for that.
"We are all scared," Atwood told me earlier about writing. "You just have to overcome that moment. I'm Canadian. We go swimming in very cold water on very cold nights. It's a lot the same. You think, Am I really going to do this today? It's freezing. Am I going in or am I not going in?" She times her pause to perfection. "Then you go in."
James Kidd is a freelance writer
The Little Things
Directed by: John Lee Hancock
Starring: Denzel Washington, Rami Malek, Jared Leto
Four stars
Pad Man
Dir: R Balki
Starring: Akshay Kumar, Sonam Kapoor, Radhika Apte
Three-and-a-half stars
Company profile
Company name: FinFlx
Started: January 2021
Founders: Amr Yussif (co-founder and CEO), Mattieu Capelle (co-founder and CTO)
Based in: Dubai
Industry: FinTech
Funding size: $1.5m pre-seed
Investors: Venture capital - Y Combinator, 500 Global, Dubai Future District Fund, Fox Ventures, Vector Fintech. Also a number of angel investors
Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Company profile
Name: WonderTree
Started: April 2016
Co-founders: Muhammad Waqas and Muhammad Usman
Based: Karachi, Pakistan, Abu Dhabi, UAE, and Delaware, US
Sector: Special education, education technology, assistive technology, augmented reality
Number of staff: 16
Investment stage: Growth
Investors: Grants from the Lego Foundation, UAE's Anjal Z, Unicef, Pakistan's Ignite National Technology Fund
COMPANY PROFILE
Company name: Almouneer
Started: 2017
Founders: Dr Noha Khater and Rania Kadry
Based: Egypt
Number of staff: 120
Investment: Bootstrapped, with support from Insead and Egyptian government, seed round of
$3.6 million led by Global Ventures
SPEC SHEET: SAMSUNG GALAXY Z FLIP5
Display: Main – 6.7" FHD+ Dynamic Amoled 2X, 2640 x 1080, 22:9, 425ppi, HDR10+, up to 120Hz; cover – 3/4" Super Amoled, 720 x 748, 306ppi
Processor: Qualcomm Snapdragon 8 Gen 2, 4nm, octa-core; Adreno 740 GPU
Memory: 8GB
Capacity: 256/512GB
Platform: Android 13, One UI 5.1.1
Main camera: Dual 12MP ultra-wide (f/2.2) + 12MP wide (f/1.8), OIS
Video: 4K@30/60fps, full-HD@60/240fps, HD@960fps
Front camera: 10MP (f/2.2)
Battery: 3700mAh, 25W fast charging, 15W wireless, 4.5W reverse wireless
Connectivity: 5G; Wi-Fi, Bluetooth 5.3, NFC (Samsung Pay)
I/O: USB-C
Cards: Nano-SIM + eSIM; no microSD slot
Colours: Cream, graphite, lavender, mint; Samsung.com exclusives – blue, grey, green, yellow
In the box: Flip 4, USB-C-to-USB-C cable
Price: Dh3,899 / Dh4,349
COMPANY PROFILE
Name: SmartCrowd
Started: 2018
Founder: Siddiq Farid and Musfique Ahmed
Based: Dubai
Sector: FinTech / PropTech
Initial investment: $650,000
Current number of staff: 35
Investment stage: Series A
Investors: Various institutional investors and notable angel investors (500 MENA, Shurooq, Mada, Seedstar, Tricap)
BABYLON
Director: Damien Chazelle
Stars: Brad Pitt, Margot Robbie, Jean Smart
Rating: 4/5
The Specs:
The Specs:
Engine: 2.9-litre, V6 twin-turbo
Transmission: 8-speed automatic
Power: 444bhp
Torque: 600Nm
Price: AED 356,580 incl VAT
On sale: now.
The specs
Engine: 3.0-litre 6-cyl turbo
Power: 435hp at 5,900rpm
Torque: 520Nm at 1,800-5,500rpm
Transmission: 9-speed auto
Price: from Dh498,542
On sale: now
Company Profile
Company name: OneOrder
Started: October 2021
Founders: Tamer Amer and Karim Maurice
Based: Cairo, Egypt
Industry: technology, logistics
Investors: A15 and self-funded
More from UAE Human Development Report:
COMPANY PROFILE
Company name: Revibe
Started: 2022
Founders: Hamza Iraqui and Abdessamad Ben Zakour
Based: UAE
Industry: Refurbished electronics
Funds raised so far: $10m
Investors: Flat6Labs, Resonance and various others
The Color Purple
Director: Blitz Bazawule
Starring: Fantasia Barrino, Taraji P Henson, Danielle Brooks, Colman Domingo
Rating: 4/5
Crazy Rich Asians
Director: Jon M Chu
Starring: Constance Wu, Henry Golding, Michelle Yeon, Gemma Chan
Four stars
'Lost in Space'
Creators: Matt Sazama, Burk Sharpless, Irwin Allen
Stars: Molly Parker, Toby Stephens, Maxwell Jenkins
Rating: 4/5
Confirmed bouts (more to be added)
Cory Sandhagen v Umar Nurmagomedov
Nick Diaz v Vicente Luque
Michael Chiesa v Tony Ferguson
Deiveson Figueiredo v Marlon Vera
Mackenzie Dern v Loopy Godinez
Tickets for the August 3 Fight Night, held in partnership with the Department of Culture and Tourism Abu Dhabi, went on sale earlier this month, through www.etihadarena.ae and www.ticketmaster.ae.
Results:
6.30pm: Maiden Dh 165,000 1,400m.
Winner: Walking Thunder, Connor Beasley (jockey), Ahmad bin Harmash (trainer).
7.05pm: Handicap (rated 72-87) Dh 165,000 1,600m.
Winner: Syncopation, George Buckell, Doug Watson.
7.40pm: Maiden Dh 165,000 1,400m.
Winner: Big Brown Bear, Pat Dobbs, Doug Watson.
8.15pm: Handicap (75-95) Dh 190,000 1,200m.
Winner: Stunned, Pat Dobbs, Doug Watson.
8.50pm: Handicap (85-105) Dh 210,000 2,000m.
Winner: New Trails, Connor Beasley, Ahmad bin Harmash.
9.25pm: Handicap (75-95) Dh 190,000 1,600m.
Winner: Pillar Of Society, Pat Dobbs, Doug Watson.
Australia squads
ODI: Tim Paine (capt), Aaron Finch (vice-capt), Ashton Agar, Alex Carey, Josh Hazlewood, Travis Head, Nathan Lyon, Glenn Maxwell, Shaun Marsh, Jhye Richardson, Kane Richardson, D’Arcy Short, Billy Stanlake, Marcus Stoinis, Andrew Tye.
T20: Aaron Finch (capt), Alex Carey (vice-capt), Ashton Agar, Travis Head, Nic Maddinson, Glenn Maxwell, Jhye Richardson, Kane Richardson, D’Arcy Short, Billy Stanlake, Marcus Stoinis, Mitchell Swepson, Andrew Tye, Jack Wildermuth.
SPEC SHEET
Processor: Apple M2, 8-core CPU, up to 10-core CPU, 16-core Neural Engine
Display: 13.6-inch Liquid Retina, 2560 x 1664, 224ppi, 500 nits, True Tone, wide colour
Memory: 8/16/24GB
Storage: 256/512GB / 1/2TB
I/O: Thunderbolt 3 (2), 3.5mm audio, Touch ID
Connectivity: Wi-Fi 6, Bluetooth 5.0
Battery: 52.6Wh lithium-polymer, up to 18 hours, MagSafe charging
Camera: 1080p FaceTime HD
Video: Support for Apple ProRes, HDR with Dolby Vision, HDR10
Audio: 4-speaker system, wide stereo, support for Dolby Atmos, Spatial Audio and dynamic head tracking (with AirPods)
Colours: Silver, space grey, starlight, midnight
In the box: MacBook Air, 30W or 35W dual-port power adapter, USB-C-to-MagSafe cable
Price: From Dh4,999
The specs
Engine: 1.5-litre 4-cyl turbo
Power: 194hp at 5,600rpm
Torque: 275Nm from 2,000-4,000rpm
Transmission: 6-speed auto
Price: from Dh155,000
On sale: now
THE SPECS
Engine: 3.6-litre V6
Transmission: nine-speed automatic
Power: 310hp
Torque: 366Nm
Price: Dh200,000
How to get there
Emirates (www.emirates.com) flies directly to Hanoi, Vietnam, with fares starting from around Dh2,725 return, while Etihad (www.etihad.com) fares cost about Dh2,213 return with a stop. Chuong is 25 kilometres south of Hanoi.
The specs
Engine: Twin-turbo, V8
Transmission: 8-speed automatic and manual
Power: 503 bhp
Torque: 513Nm
Price: from Dh646,800 ($176,095)
On sale: now
Last five meetings
2013: South Korea 0-2 Brazil
2002: South Korea 2-3 Brazil
1999: South Korea 1-0 Brazil
1997: South Korea 1-2 Brazil
1995: South Korea 0-1 Brazil
Note: All friendlies
Inside Out 2
Director: Kelsey Mann
Starring: Amy Poehler, Maya Hawke, Ayo Edebiri
Rating: 4.5/5
DUBAI WORLD CUP CARNIVAL CARD
6.30pm Handicap US$135,000 (Turf) 2,410m
7.05pm UAE 1000 Guineas Listed $250,000 (Dirt) 1,600m
7.40pm Dubai Dash Listed $175,000 (T) 1,000m
8.15pm Al Bastakiya Trial Conditions $100,000 (D) 1.900m
8.50pm Al Fahidi Fort Group Two $250,000 (T) 1,400m
9.25pm Handicap $135,000 (D) 2,000m
The National selections
6.30pm: Gifts Of Gold
7.05pm Final Song
7.40pm Equilateral
8.15pm Dark Of Night
8.50pm Mythical Magic
9.25pm Franz Kafka
What is safeguarding?
“Safeguarding, not just in sport, but in all walks of life, is making sure that policies are put in place that make sure your child is safe; when they attend a football club, a tennis club, that there are welfare officers at clubs who are qualified to a standard to make sure your child is safe in that environment,” Derek Bell explains.
The past winners
2009 - Sebastian Vettel (Red Bull)
2010 - Sebastian Vettel (Red Bull)
2011 - Lewis Hamilton (McLaren)
2012 - Kimi Raikkonen (Lotus)
2013 - Sebastian Vettel (Red Bull)
2014 - Lewis Hamilton (Mercedes)
2015 - Nico Rosberg (Mercedes)
2016 - Lewis Hamilton (Mercedes)
2017 - Valtteri Bottas (Mercedes)
The specs
Engine: 2.9-litre twin-turbo V6
Power: 540hp at 6,500rpm
Torque: 600Nm at 2,500rpm
Transmission: Eight-speed auto
Kerb weight: 1580kg
Price: From Dh750k
On sale: via special order
The specs
Engine: 4.0-litre twin-turbo V8
Power: 640hp at 6,000rpm
Torque: 850Nm from 2,300-4,500rpm
Transmission: 8-speed auto
Fuel consumption: 11.9L/100km
Price: Dh749,800
On sale: now
How to come clean about financial infidelity
- Be honest and transparent: It is always better to own up than be found out. Tell your partner everything they want to know. Show remorse. Inform them of the extent of the situation so they know what they are dealing with.
- Work on yourself: Be honest with yourself and your partner and figure out why you did it. Don’t be ashamed to ask for professional help.
- Give it time: Like any breach of trust, it requires time to rebuild. So be consistent, communicate often and be patient with your partner and yourself.
- Discuss your financial situation regularly: Ensure your spouse is involved in financial matters and decisions. Your ability to consistently follow through with what you say you are going to do when it comes to money can make all the difference in your partner’s willingness to trust you again.
- Work on a plan to resolve the problem together: If there is a lot of debt, for example, create a budget and financial plan together and ensure your partner is fully informed, involved and supported.
Carol Glynn, founder of Conscious Finance Coaching
Bullet Train
Director: David Leitch
Stars: Brad Pitt, Aaron Taylor-Johnson, Brian Tyree Henry, Sandra Bullock
Rating: 3/5
Gulf Men's League final
Dubai Hurricanes 24-12 Abu Dhabi Harlequins
Tonight's Chat on The National
Tonight's Chat is a series of online conversations on The National. The series features a diverse range of celebrities, politicians and business leaders from around the Arab world.
Tonight’s Chat host Ricardo Karam is a renowned author and broadcaster with a decades-long career in TV. He has previously interviewed Bill Gates, Carlos Ghosn, Andre Agassi and the late Zaha Hadid, among others. Karam is also the founder of Takreem.
Intellectually curious and thought-provoking, Tonight’s Chat moves the conversation forward.
Facebook | Our website | Instagram
Company profile
Name: Pyppl
Established: 2017
Founders: Antti Arponen and Phil Reynolds
Based: UAE
Sector: financial services
Investment: $18.5 million
Employees: 150
Funding stage: series A, closed in 2021
Investors: venture capital companies, international funds, family offices, high-net-worth individuals
Herc's Adventures
Developer: Big Ape Productions
Publisher: LucasArts
Console: PlayStation 1 & 5, Sega Saturn
Rating: 4/5
Quick facts on cancer
- Cancer is the second-leading cause of death worldwide, after cardiovascular diseases
- About one in five men and one in six women will develop cancer in their lifetime
- By 2040, global cancer cases are on track to reach 30 million
- 70 per cent of cancer deaths occur in low and middle-income countries
- This rate is expected to increase to 75 per cent by 2030
- At least one third of common cancers are preventable
- Genetic mutations play a role in 5 per cent to 10 per cent of cancers
- Up to 3.7 million lives could be saved annually by implementing the right health
strategies
- The total annual economic cost of cancer is $1.16 trillion
Most F1 world titles
7 — Michael Schumacher (1994, ’95, 2000, ’01 ’02, ’03, ’04)
7 — Lewis Hamilton (2008, ’14,’15, ’17, ’18, ’19, ’20)
5 — Juan Manuel Fangio (1951, ’54, ’55, ’56, ’57)
4 — Alain Prost (1985, ’86, ’89, ’93)
4 — Sebastian Vettel (2010, ’11, ’12, ’13)
Profile
Company name: Jaib
Started: January 2018
Co-founders: Fouad Jeryes and Sinan Taifour
Based: Jordan
Sector: FinTech
Total transactions: over $800,000 since January, 2018
Investors in Jaib's mother company Alpha Apps: Aramex and 500 Startups
Match info
Arsenal 0
Manchester City 2
Sterling (14'), Bernardo Silva (64')
Motori Profile
Date started: March 2020
Co-founder/CEO: Ahmed Eissa
Based: UAE, Abu Dhabi
Sector: Insurance Sector
Size: 50 full-time employees (Inside and Outside UAE)
Stage: Seed stage and seeking Series A round of financing
Investors: Safe City Group
The specs
Engine: Twin-turbocharged 4-litre V8
Power: 542bhp
Torque: 770Nm
Transmission: Eight-speed automatic
Price: From Dh1,450,000
On sale: Now
Building boom turning to bust as Turkey's economy slows
Deep in a provincial region of northwestern Turkey, it looks like a mirage - hundreds of luxury houses built in neat rows, their pointed towers somewhere between French chateau and Disney castle.
Meant to provide luxurious accommodations for foreign buyers, the houses are however standing empty in what is anything but a fairytale for their investors.
The ambitious development has been hit by regional turmoil as well as the slump in the Turkish construction industry - a key sector - as the country's economy heads towards what could be a hard landing in an intensifying downturn.
After a long period of solid growth, Turkey's economy contracted 1.1 per cent in the third quarter, and many economists expect it will enter into recession this year.
The country has been hit by high inflation and a currency crisis in August. The lira lost 28 per cent of its value against the dollar in 2018 and markets are still unconvinced by the readiness of the government under President Recep Tayyip Erdogan to tackle underlying economic issues.
The villas close to the town centre of Mudurnu in the Bolu region are intended to resemble European architecture and are part of the Sarot Group's Burj Al Babas project.
But the development of 732 villas and a shopping centre - which began in 2014 - is now in limbo as Sarot Group has sought bankruptcy protection.
It is one of hundreds of Turkish companies that have done so as they seek cover from creditors and to restructure their debts.
Veil (Object Lessons)
Rafia Zakaria
Bloomsbury Academic
SHOW COURTS ORDER OF PLAY
Wimbledon order of play on Tuesday, July 11
All times UAE (+4 GMT)
Centre Court
Adrian Mannarino v Novak Djokovic (2)
Venus Williams (10) v Jelena Ostapenko (13)
Johanna Konta (6) v Simona Halep (2)
Court 1
Garbine Muguruza (14) v
Svetlana Kuznetsova (7)
Magdalena Rybarikova v Coco Vandeweghe (24)
Company Profile
Company name: Namara
Started: June 2022
Founder: Mohammed Alnamara
Based: Dubai
Sector: Microfinance
Current number of staff: 16
Investment stage: Series A
Investors: Family offices
CHATGPT ENTERPRISE FEATURES
• Enterprise-grade security and privacy
• Unlimited higher-speed GPT-4 access with no caps
• Longer context windows for processing longer inputs
• Advanced data analysis capabilities
• Customisation options
• Shareable chat templates that companies can use to collaborate and build common workflows
• Analytics dashboard for usage insights
• Free credits to use OpenAI APIs to extend OpenAI into a fully-custom solution for enterprises
The specs: 2018 Chevrolet Trailblazer
Price, base / as tested Dh99,000 / Dh132,000
Engine 3.6L V6
Transmission: Six-speed automatic
Power 275hp @ 6,000rpm
Torque 350Nm @ 3,700rpm
Fuel economy combined 12.2L / 100km
Tips for job-seekers
- Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
- Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.
David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East
Padmaavat
Director: Sanjay Leela Bhansali
Starring: Ranveer Singh, Deepika Padukone, Shahid Kapoor, Jim Sarbh
3.5/5
The BIO:
He became the first Emirati to climb Mount Everest in 2011, from the south section in Nepal
He ascended Mount Everest the next year from the more treacherous north Tibetan side
By 2015, he had completed the Explorers Grand Slam
Last year, he conquered K2, the world’s second-highest mountain located on the Pakistan-Chinese border
He carries dried camel meat, dried dates and a wheat mixture for the final summit push
His new goal is to climb 14 peaks that are more than 8,000 metres above sea level
Kathryn Hawkes of House of Hawkes on being a good guest (because we’ve all had bad ones)
- Arrive with a thank you gift, or make sure you have one for your host by the time you leave.
- Offer to buy groceries, cook them a meal or take your hosts out for dinner.
- Help out around the house.
- Entertain yourself so that your hosts don’t feel that they constantly need to.
- Leave no trace of your stay – if you’ve borrowed a book, return it to where you found it.
- Offer to strip the bed before you go.
About Housecall
Date started: July 2020
Founders: Omar and Humaid Alzaabi
Based: Abu Dhabi
Sector: HealthTech
# of staff: 10
Funding to date: Self-funded
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.”