Britain's monarchy raises the question of royal oversight


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In a world where anyone can vent their opinions many times a day, one woman in public life stands out for expressing an opinion so rarely that when she does, it stops the news cycle in its tracks. She is the queen of England. So careful is Queen Elizabeth of what she says that, by my count, the world gets to hear her opinions about once or twice a decade.

In 2008 she asked an eminent professor at the London School of Economics why economists had failed to predict the most serious financial crisis in recent history. It was a delicious inversion of the fairy tale of the emperor with no clothes: a well-attired monarch laying bare the pretensions of a profession that had wildly oversold its skills.

The economists came up with a less than adequate response to her disarmingly simple question some time later: "A failure of the collective imagination of many bright people, both in this country and internationally, to understand the risks to the system as a whole."

This week the British people heard of another, no less resonant, question from the queen. Why had it taken so long for the British government to arrest the Egyptian-born preacher, Abu Hamza Al Masri? This is the hook-handed veteran of Afghanistan who preached jihad at the Finsbury Park mosque in London, inviting young men to swear allegiance to Osama bin Laden and facilitating trips for weapons training.

Abu Hamza became a tabloid favourite, a cartoon Islamist denouncing his adopted country and calling for vengeance against the infidel. British Muslims were appalled that this loudmouth came to represent Islam, and appealed for the police to reclaim the mini-Afghanistan he had carved out in north London.

The queen's views emerged this week during an unscripted radio segment by the BBC's security correspondent, Frank Gardner, who revealed that the queen was "pretty upset" that there was no way to arrest Abu Hamza. Surely he had broken some law? Asked how he knew this, Gardner blurted out, "She told me."

The source was unimpeachable, and therefore journalistic gold. Unfortunately for Gardner, the convention in Britain is that all conversations with the monarch are confidential. The BBC issued a grovelling apology for breaking this rule, and Gardner penned a private note to say sorry.

Foreigners will wonder what all the fuss is about. It was a good scoop, but a very ancient one.

Abu Hamza was detained in 2004 following a warrant from the US to extradite him on terrorism charges, including trying to set up a training camp in Oregon and sending young men to Yemen to kidnap tourists. While awaiting extradition he was convicted by a British court on 11 counts, including soliciting murder and inciting racial hatred. He has served his term for those offences, and is now likely, after an exhaustive appeal process, to be heading for the US for trial on the more serious charges.

The simple answer is that Abu Hamza served a useful purpose as a "honeypot" to attract jihadists from around the world to where they could be monitored. After the Al Qaeda bombings of New York and Washington in 2001, the British security service MI5 had to redirect its efforts to the world of jihad, where it was relatively inexperienced. It made sense to let Abu Hamza raise his flag in Finsbury Park and see who came to salute it.

This is an old tactic of the security services, and the only difference is that it all happened in the open air, amid angry headlines and anxious questioning by British Muslims about whose agenda Abu Hamza was serving.

It may have prevented some terrorist attacks. Certainly, security chiefs thought Abu Hamza too much of a buffoon to be a real threat. They were tolerant of him because they mistakenly believed that no British Muslim would wage war on his own country, until the London attacks of July 7, 2005 proved them wrong.

Reaction to the queen's comments has been divided. The popular press has praised her for asking the questions that the establishment brushed aside for reasons (according to the press) of political correctness. On the left there have been complaints of the queen "meddling" in politics, but this is overblown. The queen meets "her" prime minister every Tuesday to discuss politics and offer the benefit of 60 years experience. She clearly has her own views.

But the survival of the British monarchy in the modern era rests on it being kept out of the public domain. If the monarch is ever seen to meddle in politics, the magic would evaporate and the monarchy would be at risk. And that requires her to be supremely cautious about who she shares her thoughts with, including BBC reporters.

Do these constitutional arcana matter to anyone outside Britain? How monarchies survive and adapt is a live issue, even more so since the Arab revolutions toppled the leaders of three republics, and perhaps a fourth soon, but have so far spared the monarchies.

There are many reasons for the longevity of the monarchies, but one must be their suppleness that allows them to bend with the times without fracturing.

In the UK case it requires the monarch to be gagged and for the whole establishment (including the generally cut-throat media) to join in the pretence - ably upheld by the queen for 60 years - that she has no opinions on matters of public interest. This is a indeed bizarre state of affairs, but somehow it works.

There are several fake Twitter accounts claiming to be the queen's uncensored thoughts. Prime Minister David Cameron is about to open a personal Twitter account, which will be more personal, more politically charged and edgy than his official one. The queen, we can be sure, will not follow his example.

On Twitter: @aphilps

UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

HIJRA

Starring: Lamar Faden, Khairiah Nathmy, Nawaf Al-Dhufairy

Director: Shahad Ameen

Rating: 3/5

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.”

What are the GCSE grade equivalents?
 
  • Grade 9 = above an A*
  • Grade 8 = between grades A* and A
  • Grade 7 = grade A
  • Grade 6 = just above a grade B
  • Grade 5 = between grades B and C
  • Grade 4 = grade C
  • Grade 3 = between grades D and E
  • Grade 2 = between grades E and F
  • Grade 1 = between grades F and G
COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
match info

Maratha Arabians 138-2

C Lynn 91*, A Lyth 20, B Laughlin 1-15

Team Abu Dhabi 114-3

L Wright 40*, L Malinga 0-13, M McClenaghan 1-17

Maratha Arabians won by 24 runs

PROFILE OF SWVL

Started: April 2017

Founders: Mostafa Kandil, Ahmed Sabbah and Mahmoud Nouh

Based: Cairo, Egypt

Sector: transport

Size: 450 employees

Investment: approximately $80 million

Investors include: Dubai’s Beco Capital, US’s Endeavor Catalyst, China’s MSA, Egypt’s Sawari Ventures, Sweden’s Vostok New Ventures, Property Finder CEO Michael Lahyani

German intelligence warnings
  • 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
  • 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
  • 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250 

Source: Federal Office for the Protection of the Constitution

Key changes

Commission caps

For life insurance products with a savings component, Peter Hodgins of Clyde & Co said different caps apply to the saving and protection elements:

• For the saving component, a cap of 4.5 per cent of the annualised premium per year (which may not exceed 90 per cent of the annualised premium over the policy term). 

• On the protection component, there is a cap  of 10 per cent of the annualised premium per year (which may not exceed 160 per cent of the annualised premium over the policy term).

• Indemnity commission, the amount of commission that can be advanced to a product salesperson, can be 50 per cent of the annualised premium for the first year or 50 per cent of the total commissions on the policy calculated. 

• The remaining commission after deduction of the indemnity commission is paid equally over the premium payment term.

• For pure protection products, which only offer a life insurance component, the maximum commission will be 10 per cent of the annualised premium multiplied by the length of the policy in years.

Disclosure

Customers must now be provided with a full illustration of the product they are buying to ensure they understand the potential returns on savings products as well as the effects of any charges. There is also a “free-look” period of 30 days, where insurers must provide a full refund if the buyer wishes to cancel the policy.

“The illustration should provide for at least two scenarios to illustrate the performance of the product,” said Mr Hodgins. “All illustrations are required to be signed by the customer.”

Another illustration must outline surrender charges to ensure they understand the costs of exiting a fixed-term product early.

Illustrations must also be kept updatedand insurers must provide information on the top five investment funds available annually, including at least five years' performance data.

“This may be segregated based on the risk appetite of the customer (in which case, the top five funds for each segment must be provided),” said Mr Hodgins.

Product providers must also disclose the ratio of protection benefit to savings benefits. If a protection benefit ratio is less than 10 per cent "the product must carry a warning stating that it has limited or no protection benefit" Mr Hodgins added.

Herc's Adventures

Developer: Big Ape Productions
Publisher: LucasArts
Console: PlayStation 1 & 5, Sega Saturn
Rating: 4/5

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%3Cp%3E%3Cstrong%3EWest%20Asia%20Premiership%3C%2Fstrong%3E%0D%3Cbr%3EChampions%3A%20Dubai%20Tigers%0D%3Cbr%3ERunners%20up%3A%20Bahrain%0D%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EUAE%20Premiership%3C%2Fstrong%3E%0D%3Cbr%3EChampions%3A%20Jebel%20Ali%20Dragons%0D%3Cbr%3ERunners%20up%3A%20Dubai%20Hurricanes%0D%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EUAE%20Division%201%3C%2Fstrong%3E%0D%3Cbr%3EChampions%3A%20Dubai%20Sharks%0D%3Cbr%3ERunners%20up%3A%20Abu%20Dhabi%20Harlequins%20II%0D%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EUAE%20Division%202%3C%2Fstrong%3E%0D%3Cbr%3EChampions%3A%20Dubai%20Tigers%20III%0D%3Cbr%3ERunners%20up%3A%20Dubai%20Sharks%20II%0D%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EDubai%20Sevens%3C%2Fstrong%3E%0D%3Cbr%3EChampions%3A%20Dubai%20Tigers%0D%3Cbr%3ERunners%20up%3A%20Dubai%20Hurricanes%3C%2Fp%3E%0A
Gothia Cup 2025

4,872 matches 

1,942 teams

116 pitches

76 nations

26 UAE teams

15 Lebanese teams

2 Kuwaiti teams

UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
What vitamins do we know are beneficial for living in the UAE

Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.

'The worst thing you can eat'

Trans fat is typically found in fried and baked goods, but you may be consuming more than you think.

Powdered coffee creamer, microwave popcorn and virtually anything processed with a crust is likely to contain it, as this guide from Mayo Clinic outlines: 

Baked goods - Most cakes, cookies, pie crusts and crackers contain shortening, which is usually made from partially hydrogenated vegetable oil. Ready-made frosting is another source of trans fat.

Snacks - Potato, corn and tortilla chips often contain trans fat. And while popcorn can be a healthy snack, many types of packaged or microwave popcorn use trans fat to help cook or flavour the popcorn.

Fried food - Foods that require deep frying — french fries, doughnuts and fried chicken — can contain trans fat from the oil used in the cooking process.

Refrigerator dough - Products such as canned biscuits and cinnamon rolls often contain trans fat, as do frozen pizza crusts.

Creamer and margarine - Nondairy coffee creamer and stick margarines also may contain partially hydrogenated vegetable oils.

HIV on the rise in the region

A 2019 United Nations special analysis on Aids reveals 37 per cent of new HIV infections in the Mena region are from people injecting drugs.

New HIV infections have also risen by 29 per cent in western Europe and Asia, and by 7 per cent in Latin America, but declined elsewhere.

Egypt has shown the highest increase in recorded cases of HIV since 2010, up by 196 per cent.

Access to HIV testing, treatment and care in the region is well below the global average.  

Few statistics have been published on the number of cases in the UAE, although a UNAIDS report said 1.5 per cent of the prison population has the virus.

Rooney's club record

At Everton Appearances: 77; Goals: 17

At Manchester United Appearances: 559; Goals: 253