From the desk of Rupert Wright: Economic siestas and box lunch notes


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A The zombies have taken over Wall Street, the protesters have headed to the avenues of Athens and I suspect even in Paris there might be the odd gathering on the boulevard. Does this mean that the end of the world is nigh? According to Jean-Pierre Roth, a Swiss banker, we are now in an era of "large uncertainty" with Europe facing a lost decade.

With respect, I slightly wonder where he has been over the past few years. Europe has had a lost decade for the past three decades, with the possible exception of Germany and every so often, Britain. France positively prides itself on its sclerotic growth. As Jean Fourastié pointed out in his 1979 book Les Trente Glorieuses, ou la révolution invisible de 1946 à 1975, France had 30 years of growth from the end of the Second World War until the mid-1970s. After that? The country had a long lunch and a collective nap.

This is absolutely how it should be. France is not about growth, lugging things here and there and working all hours. France is all about quality, not quantity of life. It's not just about France of course. Anywhere below the Siesta Line, an area that takes in the Midi of France, Spain, Portugal, south of Rome, Greece etc, there has been hardly any growth. Spain, it's true, had a brief spurt when they built horrible developments all along the coastline, ruining the view for generations. These sorts of places don't need growth. Just as tourism always kills what it loves, so does development. I have been on a number of field visits with greedy developers to beautiful unspoilt coves, fringed with palm trees and fishing boats. "And here," says the developer, "we are going to put an enormous hotel, townhouses, villas and a couple of golf courses." I hope they all go somewhere else.

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I am indebted to TheWall Street Journal for a scoop of monumental proportions. It turns out the lunch box note business is big business. I didn't even know that as you lovingly make your children's lunches, or at least lovingly ask the maid to prepare them, you are expected to slip in a little message. "You are loved," writes one American mother. "Blue bananas," says another, rather cryptically.

Now Pottery Barn Kids and Toys'R'Us are selling pre-printed notes. One can buy a pack of messages from a company called Lunchbox Love, including such gems as "You've become so mature", "I love you unconditionally" and "I can't believe how creative you are".

I rather think this is taking all the creativity out of the process, and certainly the personal touch. These pre-printed notes are nonsense. In what way are these children being creative, except for the patterns of food they spray on their shirts?

Some teachers recommend notes as a way to encourage children to read. I may suggest to my Sri Lankan maid that as she makes the children their varied meals she may consider knocking out a little note, possibly in Sinhalese. That will fox them. I doubt my eldest daughter will bother to read them though. She is too busy planning her next business. As we discussed the news of Steve Jobs' demise, she finished her Greek yogurt and asked: "Does that mean Apple products will now be cheaper?"

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Three years ago I confidently predicted that the watch business would soon be defunct. People would realise that paying thousands of dirhams for a piece of jewellery on your wrist to perform a function that your phone could do more accurately and for free, was foolish. For a while it seemed my prediction would come true. Watch sales were pretty dismal in 2008. But for all the hype and horrors of the Great Recession, sales have recovered. Take a walk through Dubai Mall and you can't move for watches. My dilemma, as well as how to pay for one, is which to buy? Purists love Patek Philippe, but for me they are a bit poncey. The Rolex is ubiquitous, as common as a Toyota Land Cruiser on the Sheikh Zayed Highway. But should one go for an IWC, a Glasshütte, a Luminor Panerai or a Jaeger-le-Coultre? The richest man I know wears a Swatch. I bought one for my son, but he lost it. Maybe I should have written a message in his lunch box "Don't lose your watch, doughnut".

Fixtures and results:

Wed, Aug 29:

  • Malaysia bt Hong Kong by 3 wickets
  • Oman bt Nepal by 7 wickets
  • UAE bt Singapore by 215 runs

Thu, Aug 30: 

  • UAE bt Nepal by 78 runs
  • Hong Kong bt Singapore by 5 wickets
  • Oman bt Malaysia by 2 wickets

Sat, Sep 1: UAE v Hong Kong; Oman v Singapore; Malaysia v Nepal

Sun, Sep 2: Hong Kong v Oman; Malaysia v UAE; Nepal v Singapore

Tue, Sep 4: Malaysia v Singapore; UAE v Oman; Nepal v Hong Kong

Thu, Sep 6: Final

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How to apply for a drone permit
  • Individuals must register on UAE Drone app or website using their UAE Pass
  • Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
  • Upload the training certificate from a centre accredited by the GCAA
  • Submit their request
What are the regulations?
  • Fly it within visual line of sight
  • Never over populated areas
  • Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
  • Users must avoid flying over restricted areas listed on the UAE Drone app
  • Only fly the drone during the day, and never at night
  • Should have a live feed of the drone flight
  • Drones must weigh 5 kg or less
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The story in numbers

18

This is how many recognised sects Lebanon is home to, along with about four million citizens

450,000

More than this many Palestinian refugees are registered with UNRWA in Lebanon, with about 45 per cent of them living in the country’s 12 refugee camps

1.5 million

There are just under 1 million Syrian refugees registered with the UN, although the government puts the figure upwards of 1.5m

73

The percentage of stateless people in Lebanon, who are not of Palestinian origin, born to a Lebanese mother, according to a 2012-2013 study by human rights organisation Frontiers Ruwad Association

18,000

The number of marriages recorded between Lebanese women and foreigners between the years 1995 and 2008, according to a 2009 study backed by the UN Development Programme

77,400

The number of people believed to be affected by the current nationality law, according to the 2009 UN study

4,926

This is how many Lebanese-Palestinian households there were in Lebanon in 2016, according to a census by the Lebanese-Palestinian dialogue committee

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

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Oppenheimer
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Red flags
  • Promises of high, fixed or 'guaranteed' returns.
  • Unregulated structured products or complex investments often used to bypass traditional safeguards.
  • Lack of clear information, vague language, no access to audited financials.
  • Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
  • Hard-selling tactics - creating urgency, offering 'exclusive' deals.

Courtesy: Carol Glynn, founder of Conscious Finance Coaching