What is it about the British and the weather? It’s such a national obsession it almost interferes with their other preoccupation – making money.
When I arrived at Heathrow for the World Islamic Economic Forum (WIEF) on Sunday night, the media was dominated by one issue: was the storm heading the United Kingdom’s way across the Atlantic going to be bigger than the one in 1987? And if so, would it signal a collapse in the London stock market, as it did 26 years ago, almost to the day?
I must admit the headlines made me fear the worst.
But Heathrow was blustery and a bit rainy, as usual. And the ride across London to the ExCel Centre in the former Docklands was, well – it was London in late October – dark and gloomy, with high winds, and wet. Nothing extraordinary.
The next morning, the curtain-raiser for the WIEF was due to take place at the London Stock Exchange: a formal opening of the market by Tun Musa Hitam, the chairman of the forum’s governing foundation. Would we make it? Was it possible to travel across the Smoke, aka the capital, in such conditions?
As it turned out, the event took place sharp on time. The chief executive of the LSE, Alexander Justham, of course made a reference to the weather, and recalled 1987. “Back then, when they rang the bell, all the screens turned red. I’m just grateful today, when we hit the button, they went green.” How very British.
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I was last in London’s Docklands in July when I went to Canary Wharf, and the regeneration of the area amazed me. This week, travelling even farther east to the ExCel conference centre (owned by Adnec of Abu Dhabi, it must be pointed out) I was even more staggered by the transformation.
Fifteeen years or so ago, when I worked in the area, this part of London was regarded as the bottom of the barrel. Grey and desolate, it had industrial decline written all over it. Now it is mostly brand new, glittering glass and steel skyscrapers, and some decent hotels.
The DLR – Docklands Light Railway – passes through much of the area four storeys above your head, efficiently and noiselessly.
It’s a bit like Dubai, without the sun.
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Still on climate, there is one obvious difference between the WIEF and the (much older) World Economic Forum, held in Davos every year – there is unlikely ever to be snow at a WIEF event.
Apart from that, WIEF has obviously learnt a lot from WEF. The same cool, high-tech buzz, lots of talk of women’s issues and youth, lots of spiel about corporate responsibility and transparency. A very sophisticated, state-of the-art talking shop.
But WIEF is better than its Swiss counterpart in one key aspect: its range of mocktails is better than anything you’ll get at the sybaritic Alpine resort.
Back in the old days of Fleet Street journalism, I attended many a function at London’s Guildhall, the ancient Roman site in the city’s heart. But I can honestly say I never experienced strawberry juice like I did at the reception thrown by the Lord Mayor this week. To die for.
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The opening plenary – another tip of the hat to Davos – involved 18 prime ministers, presidents and other plenipotentiaries of Islamic countries around the world, including, bizarrely, Bermuda. I didn’t know Bermuda was an Islamic country.
Most of the speeches were dull, formulaic, written by a press aide and delivered without enthusiasm.
But the one speaker who impressed was King Abdullah of Jordan – appropriate words, the right tone, impeccable delivery. I saw him doing the same act in Jordan in May, but he really has got it off to a fine art.
He reminded me very much of John F Kennedy.
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There was one key issue at the opening day, apart of course from women, youth and corporate governance. Where were the two titans of the Islamic world, Saudi Arabia and Iran?
Neither was in evidence in any of official events listed for the forum.
I raised the matter with a senior member of the WIEF power nexus, and he whispered that there were scheduling problems for both countries. Apologies were sent and some representatives of both were there in a private capacity.
I didn’t believe him. I think Riyadh and Tehran were both put off by weather reports in the British press.
fkane@thenational.ae
