The Lost Opera by Ashley Peevor and Nikki Watson at Timber 2021.
The Lost Opera by Ashley Peevor and Nikki Watson at Timber 2021.
The Lost Opera by Ashley Peevor and Nikki Watson at Timber 2021.
The Lost Opera by Ashley Peevor and Nikki Watson at Timber 2021.


In a forest in the UK, music, survival and signs of normality


  • English
  • Arabic

July 06, 2021

Something truly remarkable has happened. What makes it seem so remarkable is that it used to be just normal. The Timber Festival has been taking place on sunny days in a great forest in the heart of England. There are swans and ducks on the river Trent nearby. Children are playing cricket. And in the forest, people are laughing as they set up tents at the campsite. There are family play areas, food stalls, tee-shirt sellers and environmental activists trying to sign up new members. Above all, musicians on a stage are playing in front of a live audience. It is a taste of how things once were and still might be, despite the fact that coronavirus cases in England are rising rapidly as a result of the Delta variant.

As the vaccine programme continues, the death rate is down and the UK is beginning to return to normal or, as we all suspect, invent a new normal. Much has been written about tourism, air travel and whether we want to work in offices or at home, but there is a far bigger picture that is so obvious at this cultural festival.

When I talked with audience members at the festival, the most striking aspect was our shared profound desire to rethink much about who we are and what we are doing. Coronavirus meant erecting tough borders and harsh boundaries between nations and between all of us as citizens.

Wearing a mask is the most apparent personal boundary, but since the pandemic began, all of our lives have been marked by not being in crowds, not meeting people we love and not joining in music events. We have had an enforced gap in one of our deepest human desires – to be together, to co-operate. It is this desire that brings us together – to yell our support at football teams, to have parties, to sing in choirs and to worship in churches, mosques and temples.

The historian Yuval Noah Harari says co-operation is the key to the success of humans as a species. We are not very big or terrifying – no fangs, no claws – but we are social mammals who can co-operate with one another and that makes us strong.

At the festival, there was an emphasis on preserving the natural environment, especially woodlands. This led to conversations about the 50°C temperatures in the western US and Canada and the problems caused by climate change. If terrible things happen in the Americas, Australia, the Arctic and Antarctic, they will one day happen next door.

As we emerge from the coronavirus darkness, we should ponder not just what we lost, but also the insights gained

Coronavirus is another catastrophe that has affected everybody. On the bright side, there are usually human solutions to human problems, despite some glib comments in recent years from British and American politicians about building walls or creating barriers – as if in some magical way this will keep out problems altogether, by leaving them to others.

Former British prime minister Theresa May once suggested that we are either “citizens of somewhere” or “citizens of nowhere.” This was crude politics, the delusion that nations can keep out problems of the world merely by being more nationalistic. The suggestion is also naive because as “citizens of somewhere” we are also connected to “citizens of everywhere.” The pandemic, economic shifts, climate change, poverty, migration and war have different faces in different countries but even billionaires, who build fortified boltholes on secluded island fortresses, cannot entirely escape the consequences.

Cynics may conclude that I want us all to hold hands and sing along with John Lennon’s Imagine. But I want something much more hard headed because human connectivity is not hippy talk. Thinking and co-operating are means to ensure our survival. If poorer countries lack vaccinations and become petri dishes for coronavirus mutations, the whole world will suffer. We can only survive a pandemic when we also do good, by ensuring a vaccinated world. And while rich countries may dither over the harsh decisions necessary to tackle climate change, this autumn’s Cop26 climate conference in Glasgow needs to agree on actions. A failure at Cop26 would be a failure of both imagination and of thought. It would be catastrophic if we fail to link the matter of our future survival to reducing our current wastefulness.

But there is good news. The speed at which scientists developed several different coronavirus vaccines shows that human ingenuity can work miracles. Technological solutions to climate change are also possible. And our human hunger to be together, to gather and enjoy our communities dates back a long time. As we finally emerge from the coronavirus darkness, we should ponder not just what we lost to Covid-19, but also the insights we have gained. Inter-dependence between people and countries is not a sign of weakness. It is a mark of strength and of our common humanity.

Here in this green English forest, it has been possible to have some green thoughts and hope – realistically – that they will grow.

  • Entrance to Timber 2021.
    Entrance to Timber 2021.
  • Treetop Tightrope Spectacular - Chris Bullzini at Timber 2021.
    Treetop Tightrope Spectacular - Chris Bullzini at Timber 2021.
  • Keisha Thompson at Timber 2021.
    Keisha Thompson at Timber 2021.
  • Julie Hesmondhalgh discusses her Wilderness Tracks with Geoff Bird at Timber 2021.
    Julie Hesmondhalgh discusses her Wilderness Tracks with Geoff Bird at Timber 2021.
  • The Lost Opera by Ashley Peevor and Nikki Watson at Timber 2021.
    The Lost Opera by Ashley Peevor and Nikki Watson at Timber 2021.
  • Where There is Light - Squidsoup, at Timber 2021.
    Where There is Light - Squidsoup, at Timber 2021.
  • Gruff Rhys at Timber 2021.
    Gruff Rhys at Timber 2021.
  • Helisophere - The Dream Engine at Timber 2021.
    Helisophere - The Dream Engine at Timber 2021.
  • Field Music at Timber 2021.
    Field Music at Timber 2021.
  • Mayfly by Kapow at Timber 2021.
    Mayfly by Kapow at Timber 2021.

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.”

The%20specs
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Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills

In Full Flight: A Story of Africa and Atonement
John Heminway, Knopff

Various Artists 
Habibi Funk: An Eclectic Selection Of Music From The Arab World (Habibi Funk)
​​​​​​​

RESULTS

5pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (Turf) 2,200m
Winner: M'A Yaromoon, Jesus Rosales (jockey), Khalifa Al Neydai (trainer)

5.30pm: Khor Al Baghal – Conditions (PA) Dh80,000 (T) 1,600m
Winner: No Riesgo Al Maury, Antonio Fresu, Ibrahim Al Hadhrami

6pm: Khor Faridah – Handicap (PA) Dh80,000 (T) 1,600m
Winner: JAP Almahfuz, Royston Ffrench, Irfan Ellahi

6.30pm: Abu Dhabi Fillies Classic – Prestige (PA) Dh110,000 (T) 1,400m
Winner: Mahmouda, Pat Cosgrave, Abdallah Al Hammadi

7pm: Abu Dhabi Colts Classic – Prestige (PA) Dh110,000 (T) 1,400m
Winner: AS Jezan, George Buckell, Ahmed Al Mehairbi

7.30pm: Khor Laffam – Handicap (TB) Dh80,000 (T) 2,200m
Winner: Dolman, Antonio Fresu, Bhupath Seemar

Griselda
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What is the definition of an SME?

SMEs in the UAE are defined by the number of employees, annual turnover and sector. For example, a “small company” in the services industry has six to 50 employees with a turnover of more than Dh2 million up to Dh20m, while in the manufacturing industry the requirements are 10 to 100 employees with a turnover of more than Dh3m up to Dh50m, according to Dubai SME, an agency of the Department of Economic Development.

A “medium-sized company” can either have staff of 51 to 200 employees or 101 to 250 employees, and a turnover less than or equal to Dh200m or Dh250m, again depending on whether the business is in the trading, manufacturing or services sectors. 

Checks continue

A High Court judge issued an interim order on Friday suspending a decision by Agriculture Minister Edwin Poots to direct a stop to Brexit agri-food checks at Northern Ireland ports.

Mr Justice Colton said he was making the temporary direction until a judicial review of the minister's unilateral action this week to order a halt to port checks that are required under the Northern Ireland Protocol.

Civil servants have yet to implement the instruction, pending legal clarity on their obligations, and checks are continuing.

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In the box: iPad mini, USB-C cable, 20W USB-C power adapter

Price: From Dh2,099

 

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Sector: IT

Employees: 100

Stage: Series A

Investors: Flat6Labs, Accel, Y Combinator and angel investors

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BMW M5 specs

Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor

Power: 727hp

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Earth under attack: Cosmic impacts throughout history

4.5 billion years ago: Mars-sized object smashes into the newly-formed Earth, creating debris that coalesces to form the Moon

- 66 million years ago: 10km-wide asteroid crashes into the Gulf of Mexico, wiping out over 70 per cent of living species – including the dinosaurs.

50,000 years ago: 50m-wide iron meteor crashes in Arizona with the violence of 10 megatonne hydrogen bomb, creating the famous 1.2km-wide Barringer Crater

1490: Meteor storm over Shansi Province, north-east China when large stones “fell like rain”, reportedly leading to thousands of deaths.  

1908: 100-metre meteor from the Taurid Complex explodes near the Tunguska river in Siberia with the force of 1,000 Hiroshima-type bombs, devastating 2,000 square kilometres of forest.

1998: Comet Shoemaker-Levy 9 breaks apart and crashes into Jupiter in series of impacts that would have annihilated life on Earth.

-2013: 10,000-tonne meteor burns up over the southern Urals region of Russia, releasing a pressure blast and flash that left over 1600 people injured.

Updated: November 01, 2021, 1:34 PM