Desi girl: Respect for our heritage written in the stones


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For UAE residents, Jebel Hafeet means one thing: a scenic drive up a winding road, culminating in a bird's-eye view of Al Ain from the tarmac plateau atop the majestic mount.

In my dozen or so years in the UAE, I have taken this road trip far too many times. That’s why when someone mentioned an Al Ain trip last week, I groaned in protest. It would take wild horses to drag me up there again. I was still protesting when a friend of mine showed me pictures of what looked like igloos made out of rock. This is what lies on the other, less explored side of Jebel Hafeet, I was told – and I was sold.

After a long and bumpy ride, I was standing at the foot of the mountain, with these strange desert igloos scattered around me. These are the Hafeet graves (sometimes called the Mezyad graves) from the Hafeet Period, dating from 3200 to 2700BC. Most of the ones on the northern side have been lost to modern development, but those on the eastern side are now fiercely monitored and protected, especially since their June 2011 listing as a Unesco World Heritage site.

Access to the site is difficult and may not have been possible without the mad off-roading skills of Imthi-shan Giado (www.motoringmiddleeast.com).

That afternoon, I sat atop a rock next to the graves, surveying the plains. A strange feeling of déjà vu washed over me as I realised that it was the same time one week ago that I was sitting on a very similar rock, contemplating an equally ancient civilisation some 5,000 kilometres away, in Pakistan.

We were on our way from Multan to Lahore when we decided to stop in Harappa. We wanted to see what 2600BC looked like. What we saw was too sad for words: wild shrubbery has swallowed the site and concrete covered almost every square inch of what were supposedly the remains of an ancient civilisation.

Our tour guide told us the site had been heavily damaged and most of the original material carted off during the Raj to build a railway. Whatever remains today is at the mercy of the elements and the locals. It is not unheard of for people to simply walk away with treasures unearthed from the practically unguarded site.

“This is why Unesco won’t accept us as a World Heritage site,” he said, scowling at some young men trying to jump a fence cordoning off an area. They leered at him and jumped over anyway.

Harappa has been on the Unesco’s tentative list of World Heritage sites since 2004, but has yet to make the cut. It makes me sad. Harappa is one of the greatest cities of the now-extinct Indus Valley Civilisation, which dates back to 6000BC. Clay tablets carbon-dated back to 3300-3200BC have been excavated at Harappa, with markings that are thought to be the earliest preserved specimens of writing in the world, according to Dr Richard Meadow of Harvard University, the director of the Harappa Archaeological Research Project.

According to Unesco, “to be included on the World Heritage List, sites must be of outstanding universal value and meet at least one out of 10 selection criteria”. A cursory glance at the criteria reveal Harappa to fit at least four. Come on, Pakistan: surely the people who possibly invented writing deserve this? Is a letter to Unesco in order? I think so.

The writer is an honest-to-goodness desi girl living in Dubai

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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.”

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Pharaoh's curse

British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened.
He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia.
Reports at the time said Lord Carnarvon suffered from “pain as the inflammation affected the nasal passages and eyes”.
Decades later, scientists contended he had died of aspergillosis after inhaling spores of the fungus aspergillus in the tomb, which can lie dormant for months. The fact several others who entered were also found dead withiin a short time led to the myth of the curse.

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%3Cp%3EHeavyweight%20boxer%20Fury%20revealed%20on%20Sunday%20his%20cousin%20had%20been%20%E2%80%9Cstabbed%20in%20the%20neck%E2%80%9D%20and%20called%20on%20the%20courts%20to%20address%20the%20wave%20of%20more%20sentencing%20of%20offenders.%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3ERico%20Burton%2C%2031%2C%20was%20found%20with%20stab%20wounds%20at%20around%203am%20on%20Sunday%20in%20Goose%20Green%2C%20Altrincham%20and%20subsequently%20died%20of%20his%20injuries.%3C%2Fp%3E%0A%3Cp%3E%26nbsp%3B%E2%80%9CMy%20cousin%20was%20murdered%20last%20night%2C%20stabbed%20in%20the%20neck%20this%20is%20becoming%20ridiculous%20%E2%80%A6%20idiots%20carry%20knives.%20This%20needs%20to%20stop%2C%E2%80%9D%0D%20Fury%20said.%20%E2%80%9CAsap%2C%20UK%20government%20needs%20to%20bring%20higher%20sentencing%20for%20knife%20crime%2C%20it%E2%80%99s%20a%20pandemic%20%26amp%3B%20you%20don%E2%80%99t%20know%20how%20bad%20it%20is%20until%20%5Bit%E2%80%99s%5D%201%20of%20your%20own!%3C%2Fp%3E%0A

 

 

The candidates

Dr Ayham Ammora, scientist and business executive

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Tony Booth, professor of education

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Lord Smith, former Cabinet minister

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