France's Emmanuel Macron focuses on future 'new vision' in Algeria visit


Soraya Ebrahimi
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President Emmanuel Macron began a three-day visit to Algeria on Thursday aimed at mending ties with the former French colony, which this year marked its 60th anniversary of independence.

Mr Macron is the first French president to be born after Algerian independence and hopes "to lay a foundation to rebuild and develop" a sometimes difficult relationship with the North African nation.

Algerian President Abdelmadjid Tebboune welcomed what he called the "encouraging results" of the visit, speaking alongside Mr Macron on Thursday evening.

Hailing a "positive dynamic" in their relationship, Mr Tebboune said there were "promising prospects for improving the special partnership that binds us".

Mr Macron landed earlier at Algiers' main airport where he was warmly greeted by the president and a military band that played both national anthems.

Later, the French leader visited a monument to those who gave their lives in Algeria's war for independence, laying a wreath and observing a minute of silence.

Mr Macron announced on Thursday evening that the two countries would set up a joint commission of historians to study archives on France's 130 years of colonial rule in Algeria, including the devastating eight-year war that led to independence in 1962.

"We have a common [but] complex and painful past," he said, explaining that the researchers would have full access to the archives.

Algeria celebrates 60 years of independence from France - in pictures

  • The Algerian air force flies in formation over the capital Algiers, as the country celebrates the 60th anniversary of its independence. AFP
    The Algerian air force flies in formation over the capital Algiers, as the country celebrates the 60th anniversary of its independence. AFP
  • The national holiday celebrates independence from France on July 5, 1962. AFP
    The national holiday celebrates independence from France on July 5, 1962. AFP
  • An Algerian tank drives through a street in the capital Algiers on the country's independence day. AFP
    An Algerian tank drives through a street in the capital Algiers on the country's independence day. AFP
  • Algerian soldiers parade down a street in Algiers. AFP
    Algerian soldiers parade down a street in Algiers. AFP
  • The Algerian air force. AFP
    The Algerian air force. AFP
  • Algerian troops with the National Liberation Army parade in front of the Palace of Sports in Oran, in July 1962. AFP
    Algerian troops with the National Liberation Army parade in front of the Palace of Sports in Oran, in July 1962. AFP
  • Youths wave Algerian flags and celebrate in Algiers on July 2, 1962, a day after a referendum on the independence of their country. AFP
    Youths wave Algerian flags and celebrate in Algiers on July 2, 1962, a day after a referendum on the independence of their country. AFP
  • Young Algerians march between the European and Muslim quarters of Algiers in July 1962. AFP
    Young Algerians march between the European and Muslim quarters of Algiers in July 1962. AFP
  • Rival narratives over atrocities committed during over a century of colonial rule continue to cause bitter diplomatic tension. AFP
    Rival narratives over atrocities committed during over a century of colonial rule continue to cause bitter diplomatic tension. AFP
  • A French soldier looks at a shop destroyed by a Molotov cocktail in Algiers in May 1962, after the signing of the Evian Accords. AFP
    A French soldier looks at a shop destroyed by a Molotov cocktail in Algiers in May 1962, after the signing of the Evian Accords. AFP
  • Young Algerians hang a national flag on a wall in Algiers in July 1962. AFP
    Young Algerians hang a national flag on a wall in Algiers in July 1962. AFP
  • A soldier with forces supporting French rule in the North African country stands guard on a roof in Algiers in January 1960, during the Algerian war. AFP
    A soldier with forces supporting French rule in the North African country stands guard on a roof in Algiers in January 1960, during the Algerian war. AFP
  • The Hotel du Parc in Evian-les-Bains in south-easten France in March 1961, where negotiations to end the war in Algeria took place. AFP
    The Hotel du Parc in Evian-les-Bains in south-easten France in March 1961, where negotiations to end the war in Algeria took place. AFP
  • A woman walks next to Algerian flags in the capital, Algiers, on the eve of the country's 60th independence anniversary. EPA
    A woman walks next to Algerian flags in the capital, Algiers, on the eve of the country's 60th independence anniversary. EPA
  • The statue of Emir Abdelkader in Algiers. The military hero resisted French rule and is considered one of the founders of modern-day Algeria. EPA
    The statue of Emir Abdelkader in Algiers. The military hero resisted French rule and is considered one of the founders of modern-day Algeria. EPA

Ties between Paris and Algiers have included repeated crises over the years.

They had been particularly stormy since last year when Mr Macron questioned Algeria's existence as a nation before the French occupation, and accused the government of fomenting "hatred towards France".

Mr Tebboune withdrew his country's ambassador in response and banned French military aircraft from its airspace.

But Mr Macron's office said he "regretted" the misunderstandings caused by his comments, and his aides believe both sides have moved on.

Normal diplomatic relations have resumed and French plans are allowed to fly over the country to reach army bases in sub-Saharan Africa.

Mr Macron, on his second visit to Algeria since he took power in 2017, "has chosen to direct this visit towards the future — start-ups, innovation, youth, new sectors," his office said.

Algerian media said his visit showed both countries' desire for relations built around "a new vision based on equal treatment and balance of interests".

"Given instability in the Maghreb region, conflicts in the Sahel and the war in Ukraine, improving ties between France and Algeria is a political necessity," analyst Mansour Kedidir said.

Mr Tebboune said he and Mr Macron had discussed how to bring stability to Libya and the Sahel region.

They are also expected to discuss boosting Algerian gas deliveries to Europe to fill the vast shortfall after Russia's invasion of Ukraine in February.

European nations want to end their dependence on Russian hydrocarbons, giving Algeria — Africa's biggest gas exporter, with direct pipelines to Spain and Italy — renewed influence.

"The French president will certainly ask Algeria to make an effort to try to increase its gas production," said Algerian economist Abderrahmane Mebtoul.

Mr Macron's office has said gas is not a major feature of the visit, although the head of French energy company Engie, Catherine MacGregor, is in his delegation.

Emmanuel Macron recognises 1962 massacre in Algeria - video

Mr Macron has long ruled out issuing an apology for the highly sensitive issue of colonialism, but he has made gestures aimed at healing past wounds.

In Algiers, few have much sympathy for the French president, who during his first election campaign described his country's colonialism as a "crime against humanity".

"Before he was president, he used nice words," said computer scientist Othmane Abdellouche, 62. "He visited, but right after he went back to France he changed

"He used a totally different discourse."

But businessman Kamel Moula, who leads the Council of Algerian Economic Renewal, told the TSA news website that he wanted to see "a new mode of co-operation" between the two countries that would allow them to "jointly conquer new markets".

French historians say half a million civilians and combatants died during Algeria's bloody war for independence, 400,000 of them Algerian.

The Algerian authorities say 1.5 million were killed.

Mr Tebboune's office said in October that more than 5.6 million Algerians were killed during the colonial period.

Algerian human rights groups have urged Mr Macron not to overlook abuses by the government that came to power after long-time leader Abdelaziz Bouteflika stepped down in 2019.

Mr Tebboune, a prime minister under Mr Bouteflika, has clamped down on the Hirak opposition movement that forced his predecessor to resign.

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Five famous companies founded by teens

There are numerous success stories of teen businesses that were created in college dorm rooms and other modest circumstances. Below are some of the most recognisable names in the industry:

  1. Facebook: Mark Zuckerberg and his friends started Facebook when he was a 19-year-old Harvard undergraduate. 
  2. Dell: When Michael Dell was an undergraduate student at Texas University in 1984, he started upgrading computers for profit. He starting working full-time on his business when he was 19. Eventually, his company became the Dell Computer Corporation and then Dell Inc. 
  3. Subway: Fred DeLuca opened the first Subway restaurant when he was 17. In 1965, Mr DeLuca needed extra money for college, so he decided to open his own business. Peter Buck, a family friend, lent him $1,000 and together, they opened Pete’s Super Submarines. A few years later, the company was rebranded and called Subway. 
  4. Mashable: In 2005, Pete Cashmore created Mashable in Scotland when he was a teenager. The site was then a technology blog. Over the next few decades, Mr Cashmore has turned Mashable into a global media company.
  5. Oculus VR: Palmer Luckey founded Oculus VR in June 2012, when he was 19. In August that year, Oculus launched its Kickstarter campaign and raised more than $1 million in three days. Facebook bought Oculus for $2 billion two years later.
Company%20Profile
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Jetour T1 specs

Engine: 2-litre turbocharged

Power: 254hp

Torque: 390Nm

Price: From Dh126,000

Available: Now

Company profile

Company name: Dharma

Date started: 2018

Founders: Charaf El Mansouri, Nisma Benani, Leah Howe

Based: Abu Dhabi

Sector: TravelTech

Funding stage: Pre-series A 

Investors: Convivialite Ventures, BY Partners, Shorooq Partners, L& Ventures, Flat6Labs

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

COMPANY%20PROFILE
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Schedule:

Sept 15: Bangladesh v Sri Lanka (Dubai)

Sept 16: Pakistan v Qualifier (Dubai)

Sept 17: Sri Lanka v Afghanistan (Abu Dhabi)

Sept 18: India v Qualifier (Dubai)

Sept 19: India v Pakistan (Dubai)

Sept 20: Bangladesh v Afghanistan (Abu Dhabi) Super Four

Sept 21: Group A Winner v Group B Runner-up (Dubai) 

Sept 21: Group B Winner v Group A Runner-up (Abu Dhabi)

Sept 23: Group A Winner v Group A Runner-up (Dubai)

Sept 23: Group B Winner v Group B Runner-up (Abu Dhabi)

Sept 25: Group A Winner v Group B Winner (Dubai)

Sept 26: Group A Runner-up v Group B Runner-up (Abu Dhabi)

Sept 28: Final (Dubai)

Company Profile

Name: JustClean

Based: Kuwait with offices in other GCC countries

Launch year: 2016

Number of employees: 130

Sector: online laundry service

Funding: $12.9m from Kuwait-based Faith Capital Holding

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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Biog

Mr Kandhari is legally authorised to conduct marriages in the gurdwara

He has officiated weddings of Sikhs and people of different faiths from Malaysia, Sri Lanka, Russia, the US and Canada

Father of two sons, grandfather of six

Plays golf once a week

Enjoys trying new holiday destinations with his wife and family

Walks for an hour every morning

Completed a Bachelor of Commerce degree in Loyola College, Chennai, India

2019 is a milestone because he completes 50 years in business

 

The specs

Engine: 4-litre twin-turbo V8

Transmission: nine-speed

Power: 542bhp

Torque: 700Nm

Price: Dh848,000

On sale: now

Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

Muslim Council of Elders condemns terrorism on religious sites

The Muslim Council of Elders has strongly condemned the criminal attacks on religious sites in Britain.

It firmly rejected “acts of terrorism, which constitute a flagrant violation of the sanctity of houses of worship”.

“Attacking places of worship is a form of terrorism and extremism that threatens peace and stability within societies,” it said.

The council also warned against the rise of hate speech, racism, extremism and Islamophobia. It urged the international community to join efforts to promote tolerance and peaceful coexistence.

Other acts on the Jazz Garden bill

Sharrie Williams
The American singer is hugely respected in blues circles due to her passionate vocals and songwriting. Born and raised in Michigan, Williams began recording and touring as a teenage gospel singer. Her career took off with the blues band The Wiseguys. Such was the acclaim of their live shows that they toured throughout Europe and in Africa. As a solo artist, Williams has also collaborated with the likes of the late Dizzy Gillespie, Van Morrison and Mavis Staples.
Lin Rountree
An accomplished smooth jazz artist who blends his chilled approach with R‘n’B. Trained at the Duke Ellington School of the Arts in Washington, DC, Rountree formed his own band in 2004. He has also recorded with the likes of Kem, Dwele and Conya Doss. He comes to Dubai on the back of his new single Pass The Groove, from his forthcoming 2018 album Stronger Still, which may follow his five previous solo albums in cracking the top 10 of the US jazz charts.
Anita Williams
Dubai-based singer Anita Williams will open the night with a set of covers and swing, jazz and blues standards that made her an in-demand singer across the emirate. The Irish singer has been performing in Dubai since 2008 at venues such as MusicHall and Voda Bar. Her Jazz Garden appearance is career highlight as she will use the event to perform the original song Big Blue Eyes, the single from her debut solo album, due for release soon.

Updated: August 26, 2022, 7:19 AM