1,001 Arabian bites: bread, the ultimate comfort food, is life itself


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Certain things, no matter how polarising, possess resilience; think Cher, Donald Trump and carbohydrates. Bread is like the Pope: it’s been around forever, it’s been elevated and excoriated and it always makes for good dinner conversation.

Bread, with which I have had a lifelong love affair, has the kind of longevity that will never be compromised by its lack of novelty. And by novelty, I mean freshness. It is one of the hardiest foods you can buy, as long as you’re willing to give it some TLC – or in critical times, CPR.

The word bread, in addition to the food, also refers to money and, in colloquial Arabic, its connotations can be even more vital. “Aish”, Arabic for “life”, is a broad colloquial reference that millions of Arabs use for referring to bread or rice. The French dramatist Jean Anouilh said that he liked reality and that “it tastes like bread”.

Well, I like bread and I think it tastes like life.

Some bread takes more kindly to cryogenics than others. Pre-sliced sandwich bread – the sort you might strip of its spongy crust for a small child – contains moistening agents that make it more likely to grow mouldy before it goes stale and generally takes well to week-long countertop storage. By Thursday, Monday’s crêpe-like flatbreads have dried out, Arabic bread has forfeited its elasticity and bread with an honest crust, such as a baguette or ciabatta, is crying out for moisture in a more drastic form than butter or olive oil.

And so it makes sense that every bread-eating culture has devised ingenious ways of never going breadless. Here, in Santa Fe, we fry stale corn tortillas in oil and serve them as the base for chilaquiles, or as the crispy garnish for migas, both of which are breakfast dishes. Arabs fry stale Arabic bread in olive oil to make Syro-Palestinian fatteh, a beautiful mess that looks a little like nachos and tastes a lot like heaven. And yes, I’m sufficiently confident in fatteh’s greatness to make that assumption. In the UAE, we eat thareed, a pile of whole flatbreads soaked in a savoury stew.

Tuscans enjoy their bread and vegetable stew in the form of ribollita, but in the north-east corner of Italy, it’s all about the canederli: fat seasoned dumplings made from old bread in the style of Central European knödel. If you’re looking for a less soporific alternative, turn to bread salads: Italian panzanella or Levantine fattoush, brimming with shards of crisp Arabian bread, all burnished with sumac.

If you’re lazy, busy or obsessed with Caesar salads, consider the crouton. Few experiences in life can deliver more satisfaction with less effort, and you can season them and store them indefinitely in a Ziploc bag.

Most often, though, bread in my house becomes breadcrumbs – or pangrattato, which is more fun to say. As a relatively balanced person who has nevertheless stuck her face into a lot of paper bags filled with fresh bread just to breathe in the scent of it, I draw the line at putting my head in the oven. But it does take some restraint. The smell of breadcrumbs toasting is as good as it gets.

Nouf Al-Qasimi is an Emirati food analyst who cooks and writes in New Mexico

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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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Labour dispute

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UPI facts

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