"Arianna is running late," I am told when I arrive at the New York offices of the Huffington Post, the influential current affairs website set up by the flamboyant Greek-born socialite Arianna Huffington. The minimalist offices are eerily silent: rows of earnest twentysomethings are hard at work at computer screens. No phones ring, no one speaks.
Suddenly, the door swings open and in strides Huffington herself, statuesque in her black Valentino trouser-suit, Armani heels and Bulgari jewellery. Instantly, the place is abuzz with activity. Everyone is out of their chairs, clustering around Huffington as she moves through the office waving, kissing and congratulating her staff. The website has just won Best Political Blog at the Webby Awards (which will be held that night) for its agenda-changing commentary.
What makes Huffington, 58, so powerful is her extraordinary connections. A few months ago, for example, she wrote about a private dinner party that she and John McCain, the Republican presidential candidate, attended just after George Bush won the 2000 election.
At the dinner, wrote Huffington, McCain admitted that he did not vote for Bush. McCain dismissed the allegation as "totally false", but Huffington's fellow diners backed her up. Now, she is being depicted as a one-woman campaign against him. "I gladly accept that title," she says. "Right now the single most important thing for this country to avoid is the election of John McCain." (Though, ironically, given Bush's rock-bottom ratings, she may have inadvertently boosted McCain's credibility).
But when the Huffington Post, or Huffpo as it is known, first went live in May 2005, it was widely derided as an online cocktail party for Huffington and her Hollywood friends. She herself was dismissed as a joke, "the most upwardly mobile Greek since Icarus".
First a staunch Republican, then an independent candidate in the 2003 California gubernatorial election (which Arnold Schwarzenegger won) and now a fervent Democrat, she has been described as "an intellectual lap-dancer".
But the calibre of the Huffington Post's bloggers - who have included the screenwriter and director Nora Ephron, Barack Obama and Hillary Clinton, not to mention Huffington herself - quickly made it essential reading in liberal circles. She is a long-time supporter of Obama, and his ascendancy has made her opinions more relevant than ever.
Huffington apologises effusively for keeping me waiting as she sends someone off to Starbucks ("a venti light frappuccino - no syrup") and calls a staff meeting to help her decide on the five-word "speech" she is due to deliver at the awards that evening.
"Ohh-kehhh," she says, speaking loudly in a heavily accented voice. "We're down to three choices, so let's do a mahhh-jority vote: 'Big Brother, we're watching you'; 'President Obama, sounds good, right?'; and 'No country for old media'."
The vote is split, but most people want the last one. "Not the President Obama one?" says Huffington, who clearly has a strong preference. "No, way too earnest," someone says, so they settle on "No country for old media".
That decision made, we go into a side office, where Huffington plugs her two BlackBerries into the wall and sits on a red chair, wires trailing around her. In fact, she has three BlackBerries, but has left one at home. Every few seconds one of them rings, sometimes both do at the same time. At first she ignores them, then says she will switch them off, but finally can resist the urge no longer and answers one. "Dahhhlling," she purrs to the caller. By the time she gets round to focusing on me, it is nearly time to leave for the awards ceremony. But her charm is such that you scarcely mind. "Come to the dinner too," she says. "It will be fun."
The Huffington Post is entirely unlike the traditional media, where full-time, professional reporters track and break news stories. The Huffpo's bloggers (there are more than 1,800) are unpaid and its stories originate elsewhere: in newspapers, on television or, occasionally, from a "citizen reporter". For example, the "bittergate" story - in which Obama said that working-class voters "get bitter" and "cling to guns or religion" - was broken on the Huffington Post by a blogger who heard the comments at an Obama supporters' event. The story dominated headlines and news programmes for days. (Although a supporter, Huffington claims not to have "any Utopian sense about [Obama]. The ultimate goal is truthtelling.") The Huffpo is now, according to the internet-tracker Technorati, the most-linked-to blog on the internet, with more than 10 million unique users each month.
Huffington lives in a $7 million mansion in Los Angeles, but jets between there and New York to oversee operations. "I'm very lucky that I love what I'm doing," she says. "I've learnt not to stress about things, which I think is one of the great gifts of ageing. If you approach life with gratitude, instead of focusing on how crazy everything is, you get much less stressed. I do yoga, I meditate, I'm a fantastic catnapper - in fact, I'm obsessed with getting enough sleep. The important thing at night is to put the BlackBerries into a different room, otherwise I cannot sleep."
Arianna Stassinopoulos grew up in Athens with her parents, Elli and Konstantinos, a journalist, and her younger sister, Agapi. In 1966, the three women moved to England so that Arianna could study economics at Cambridge University, where she was elected the first foreign-born president of the Cambridge Union. At the age of 23, she published her first book, The Female Woman, which condemned women's liberation for ignoring the longings of millions of women to have a family. By the time she was 30, she had published two more books and had been with the political columnist Bernard Levin for nine years. But, despite being more than two decades her senior, Levin refused to marry her. "I was so in love with him," she says. "We could have spent all of our lives together, but he didn't want children or marriage. I didn't mind so much about marriage, but I desperately wanted children. If he'd married me, I would definitely have stayed in London." Instead, she moved to New York, where she established herself as a glamorous socialite with a sharp intellect.
She attributes her success in America to being a foreigner, "because it is easier to challenge the conventional wisdom". And also to her mother, who, she says, "imbued a sense of fearlessness in her children. She saw failures as stepping-stones, and that is the way I see them: I call them game-changing failures and I've had a few of them."
In 1986, she married the Texan oil magnate Michael Huffington and had two daughters, Cristina, 19, and Isabella, 17. In 1994, her husband, a Republican, spent $30 million running unsuccessfully for the Senate. Arianna was widely caricatured as a pushy wife micromanaging her husband's campaign. I ask her if she minded the descriptions of her, which included being labelled the "Sir Edmund Hillary of social climbing". She laughs. "It's just amusing. I would have to be very dysfunctional to still be affected by things like that. Even my children laugh at it."
In 1997, the Huffingtons divorced and shortly afterwards, Michael admitted that he was bisexual. Huffington claimed to be shocked but Michael insisted she had always known. Today, she says they have agreed not to talk about it. "Actually, we're very close now. We're having our best time since we divorced. We have holidays together, celebrate the children's birthdays together."
First and foremost, Huffington says, she is a mother. "The minute there is any problem, everything else disappears. There is nothing you put ahead of a crisis with your child." And she has dealt with a heart-wrenching crisis, in her younger daughter's long battle with anorexia. "Now, touch wood, she's really well," she says. "But it was very hard for a time."
In 2003, Huffington ran for governor of California; her campaign was, she says, "a complete failure" but taught her "so much about the power of the internet. If I hadn't attempted, I wouldn't be here now."
She is running late for the awards dinner, so we go downstairs to her chauffeur-driven car. Huffington settles back in her seat, pulling out a Maybelline powder compact. "I love your shoes," she says to me. "My feet are too big for cute shoes." We pull up at the Cipriani restaurant on Wall Street, where television crews jostle to speak to her. Inside she is instantly surrounded by acolytes. Huffington greets everyone as if they were her oldest friend and makes introductions assiduously, always ensuring that I am included. She uses her fingers to pick at her starter, a goat's cheese and beetroot salad, and drinks water instead of wine. When the speeches start, she scrolls through messages on her BlackBerry until it is time for her own acceptance speech.
Then, from behind a curtain, she appears on the stage and walks over to the podium, elegant and assured. Lifting the trophy in the air, she declares: "President Obama, sounds good, right?" At the table her staff exchange amused glances. Despite the office vote, Huffington has gone for the speech she liked the best.
"Isn't she amazing to be around," says Roy Sekoff, a founding editor of the Huffington Post. "You never know what's going to happen next!"
© Helena de Bertodano / The Daily Telegraph / 2008
ELIO
Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett
Directors: Madeline Sharafian, Domee Shi, Adrian Molina
Rating: 4/5
5 of the most-popular Airbnb locations in Dubai
Bobby Grudziecki, chief operating officer of Frank Porter, identifies the five most popular areas in Dubai for those looking to make the most out of their properties and the rates owners can secure:
• Dubai Marina
The Marina and Jumeirah Beach Residence are popular locations, says Mr Grudziecki, due to their closeness to the beach, restaurants and hotels.
Frank Porter’s average Airbnb rent:
One bedroom: Dh482 to Dh739
Two bedroom: Dh627 to Dh960
Three bedroom: Dh721 to Dh1,104
• Downtown
Within walking distance of the Dubai Mall, Burj Khalifa and the famous fountains, this location combines business and leisure. “Sure it’s for tourists,” says Mr Grudziecki. “Though Downtown [still caters to business people] because it’s close to Dubai International Financial Centre."
Frank Porter’s average Airbnb rent:
One bedroom: Dh497 to Dh772
Two bedroom: Dh646 to Dh1,003
Three bedroom: Dh743 to Dh1,154
• City Walk
The rising star of the Dubai property market, this area is lined with pristine sidewalks, boutiques and cafes and close to the new entertainment venue Coca Cola Arena. “Downtown and Marina are pretty much the same prices,” Mr Grudziecki says, “but City Walk is higher.”
Frank Porter’s average Airbnb rent:
One bedroom: Dh524 to Dh809
Two bedroom: Dh682 to Dh1,052
Three bedroom: Dh784 to Dh1,210
• Jumeirah Lake Towers
Dubai Marina’s little brother JLT resides on the other side of Sheikh Zayed road but is still close enough to beachside outlets and attractions. The big selling point for Airbnb renters, however, is that “it’s cheaper than Dubai Marina”, Mr Grudziecki says.
Frank Porter’s average Airbnb rent:
One bedroom: Dh422 to Dh629
Two bedroom: Dh549 to Dh818
Three bedroom: Dh631 to Dh941
• Palm Jumeirah
Palm Jumeirah's proximity to luxury resorts is attractive, especially for big families, says Mr Grudziecki, as Airbnb renters can secure competitive rates on one of the world’s most famous tourist destinations.
Frank Porter’s average Airbnb rent:
One bedroom: Dh503 to Dh770
Two bedroom: Dh654 to Dh1,002
Three bedroom: Dh752 to Dh1,152
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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
The specs: 2018 Audi RS5
Price, base: Dh359,200
Engine: 2.9L twin-turbo V6
Transmission: Eight-speed automatic
Power: 450hp at 5,700rpm
Torque: 600Nm at 1,900rpm
Fuel economy, combined: 8.7L / 100km
The Ashes
Results
First Test, Brisbane: Australia won by 10 wickets
Second Test, Adelaide: Australia won by 120 runs
Third Test, Perth: Australia won by an innings and 41 runs
Fourth Test: Melbourne: Drawn
Fifth Test: Australia won by an innings and 123 runs
Company%C2%A0profile
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If you go
The flights
Emirates and Etihad fly direct to Nairobi, with fares starting from Dh1,695. The resort can be reached from Nairobi via a 35-minute flight from Wilson Airport or Jomo Kenyatta International Airport, or by road, which takes at least three hours.
The rooms
Rooms at Fairmont Mount Kenya range from Dh1,870 per night for a deluxe room to Dh11,000 per night for the William Holden Cottage.
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Squid Game season two
Director: Hwang Dong-hyuk
Stars: Lee Jung-jae, Wi Ha-joon and Lee Byung-hun
Rating: 4.5/5
Some of Darwish's last words
"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.
The biog
Favourite food: Tabbouleh, greek salad and sushi
Favourite TV show: That 70s Show
Favourite animal: Ferrets, they are smart, sensitive, playful and loving
Favourite holiday destination: Seychelles, my resolution for 2020 is to visit as many spiritual retreats and animal shelters across the world as I can
Name of first pet: Eddy, a Persian cat that showed up at our home
Favourite dog breed: I love them all - if I had to pick Yorkshire terrier for small dogs and St Bernard's for big
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.”