Hurry up and wait


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After the drama of last week's false alarm, I'm feeling a bit deflated. Not literally, obviously. But, I'm getting a little fed up with playing the waiting game. I am considered to be "full term" now at 37 weeks, because having a baby any time between three weeks before the due date and two weeks after that is considered perfectly normal. The medics say that you should spend the final days acting as if it's business as usual. That's easier said than done when my day-to-day life is an utter struggle. Even walking is becoming difficult. My pace has been reduced to geriatric shuffle. Relaxing is an impossibility unless there is someone on standby to pull me up. If I lean back on the sofa to watch TV, my husband has to heave me into a normal sitting position when I need to get up (using maximum force and effort). I hate to even admit to this, but going shopping is not even an enjoyable prospect. For a start, I get stared at by virtually every member of public perusing the malls. The look in their eyes varies from pure sympathy to, "Gosh, how many is she having?" My tummy has got so big that it arrives in the shop about five minutes before the rest of me. I am just one, big immobile lump.

Every single twinge of pain or discomfort is now being interpreted as "the start". I am living in a permanent state of "just in case". My hair is freshly washed and straightened every day - "just in case". Make up is applied first thing, continuously reapplied and left on until bedtime - "just in case". Fake tan regularly smothered on for that "tanned labour legs look" - "just in case". You get my drift. It's like preparing for my wedding day, every day, only to find that it's been postponed at the last minute.

The only time I feel normal is when I'm attending my antenatal classes, surrounded by all of the other bumps. And their owners, of course. We went through the entire process of labour and birth at our last session, from start to finish. There are three stages in total, as if one isn't bad enough. The first stage is when the expectant mum's body starts to prepare itself and gets ready for the birth. Physiological changes, apparently. Not shaving your legs and applying body moisturiser. Then there is the second stage, which is when the baby eventually makes its entrance into the world. I stopped listening when it came to the third stage. I got a bit squeamish and it was something to do with the placenta thingy. Which, by the way, looks like one of the baddies out of Doctor Who. I summarised the whole labour process in my head. First stage, starts off painful and then ends in agony. Second stage, the worst pain imaginable. Third stage, not as painful but totally sick. Mmm. There is also something called a transition stage which takes place just before you start giving birth. Your body gets a huge rush of hormones which can make the mother start behaving very strangely. The teacher said that it's not uncommon for the woman to shout, swear and become very aggressive. At this point my husband looked at me knowingly and made his only contribution to the class by saying, "So no change there then". Oh dear, he's not had an easy nine months either.

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

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MATCH INFO

World Cup qualifier

Thailand 2 (Dangda 26', Panya 51')

UAE 1 (Mabkhout 45 2')

The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
UAE squad v Australia

Rohan Mustafa (C), Ashfaq Ahmed, Chirag Suri, Rameez Shahzad, Fahad Nawaz, Amjed Gul, Shaiman Anwar, Ahmed Raza, Imran Haider, Muhammad Naveed, Amir Hayat, Ghulam Shabir (WK), Qadeer Ahmed, Tahir Latif, Zahoor Khan

Liverpool's all-time goalscorers

Ian Rush 346
Roger Hunt 285
Mohamed Salah 250
Gordon Hodgson 241
Billy Liddell 228

Barings Bank

 Barings, one of Britain’s oldest investment banks, was
founded in 1762 and operated for 233 years before it went bust after a trading
scandal. 

Barings Bank collapsed in February 1995 following colossal
losses caused by rogue trader Nick Lesson. 

Leeson gambled more than $1 billion in speculative trades,
wiping out the venerable merchant bank’s cash reserves.  

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.”