From the reflected glory of a successful Paris Olympics to the urgent need to salvage a viable new government from political turmoil, France is coming down to earth with an uncomfortable bump.
It was a smart call on the part of French President Emmanuel Macron to promise an “Olympics truce”, placing the unifying qualities of the Games ahead of nagging domestic and international issues.
Dating from Ancient Greece and a treaty signed by three city-state kings – Iphitos, Cleisthenes and Lycurgus – the truce originally provided for a laying down of arms, suspending incessant hostilities to allow spectators safe travel to and from Olympic events.
From the opening on July 26 to Sunday’s closing ceremony, its 2024 version in France has been impressively observed.
After mixed reactions to the bold, lavish and occasionally challenging inaugural ceremony beneath heavy rainfall on the Seine, the achievements of competing athletes have been inspiring, sometimes breathtaking.
The enthusiastic responses of those watching in Paris, or from afar on their screens, suggest that the Olympics broadly lived up to Mr Macron’s hopes for top-quality Games. France showed its ability to organise a major international event without serious hitches.
Much had been left to prove after the debacle of a botched handling of the 2022 Champions League final between Liverpool and Real Madrid in Paris. Ministers shamefully blamed ticketless Liverpool fans but an official report showed this to be false, citing woeful organisation by the European football body UEFA and French policing failures as responsible for the chaos.
With France’s unenviable record of terrorist attacks and street disorder, there were plenty of security concerns ahead of the Games. Threats potentially arose from the extremes of left and right as well as lone wolves with allegiance to ISIS.
In the event, policing and anti-terror tactics held up well, apart from the eve-of-opening disruption caused by sabotage of the French rail network. The only clue to the culprits remains an unverified admission of responsibility from a hitherto unknown, seemingly leftist or anarchist group.
The Games ultimately met Mr Macron’s desire for “a time for diplomacy and peace” inside his country
The national mood in France was helped to no end by the triumphs of its participants. The aim was top five in the medals table and fifth place was achieved.
Leon Marchand became only the sixth swimmer in Olympic history to win four individual gold medals at a single Games. The judo champion Teddy Riner won three golds, one individual and two in team efforts.
As the country’s best-loved sporting figure, known affectionally as Teddy Bear, Riner had already been a popular choice to run with the former Olympic gold-winning sprinter Marie-Jose Perec as the last bearer of the Olympic flame before the Games opened. In a country desperately in need of positive signs of vivre-ensemble – different ethnic communities cohabiting in mutual tolerance – the sight of two black Guadeloupe-born stars performing this symbolic role was uplifting.
Now the Games are over, the artistic director Thomas Jolly’s inventive if arguably disjointed closing spectacle somehow blending class and clutter, ecstasy and excess.
The Games ultimately met Mr Macron’s desire for “a time for diplomacy and peace” inside his country. But as athletes and spectators leave for home, France now faces an unsettled future.
Just weeks before the Olympics began, an unseemly political mess was created by the snap election called by the President after voting for the European parliament produced resounding successes for Marine Le Pen’s far-right National Rally. Her candidates amassed more than 31 per cent of the vote, double that of Macronist contenders.
Mr Macron hoped legislative elections on June 30 and July 7 would provide “clarity”, by which he meant voters joining forces in a traditional “republican front”, with natural ideological enemies swallowing differences to keep the far right out of office.
It was a presidential call much less smart than the pledge of an Olympic truce. The strategy backfired, almost catastrophically, with Le Penists winning more than 10 million votes in each round. Just when far-right victory seemed alarmingly likely, a surge of tactical voting, withdrawals by left-wing and Macronist candidates foiling otherwise well-placed RN rivals pushed Ms Le Pen’s party into third place behind the left-green alliance New Popular Front (NFP) and Mr Macron’s Ensemble.
The problem was that the outcome produced no working majority. The NFP has the most seats, 193 out of a total of 577, but is already creaking with internal rifts between its three components parts: mainstream socialists, greens and the far-left France Unbowed (LFI). What is more, the President has almost as much distaste for the idea of a government led by an out-and-out left-winger as for the RN’s Jordan Bardella as Prime Minister.
A premier from his own party would be politically untenable given its poor performance at the ballot box. The word in presidential circles is that Mr Macron will declare his choice immediately after the coming weekend’s 80th anniversary of Allied landings in Provence and the liberation of Bormes-les-Mimosas, the commune in which is found the Fort de Bregancon, official Mediterranean retreat of French presidents.
It is at that eye-catching summer residence that Mr Macron and his family have been spending time since the Olympics opening, the President interrupting his working holiday to fly to Olympics events or the Elysee palace. It remains to be seen what progress he has made in seeking to avoid total deadlock in parliament.
The omens are not encouraging. Three distinct groups dominate the national assembly but have no common ground to make effective coalition seem possible. It may take another round of legislative elections to break the impasse but this cannot constitutionally take place before next summer.
Mr Macron will welcome whatever kudos come his way from perceptions of a memorable, well-run Olympics. Early polling suggests the number of French voters trusting him to deal effectively with the country’s pressing needs has risen modestly in the past month, up by two points to 27 per cent. The proportion of those feeling no such trust fell sharply, five points to 39, the lowest since January. But these ratings hardly signal a renewed wave of support for a president whose popularity has been in decline since he won his first mandate with a thumping victory over Ms Le Pen in 2017.
Whether the Olympic spirit of togetherness can help improve brittle relations between communities in France is also open to doubt. The notions of vivre-ensemble and a sense of belonging on the part of those of immigrant origin have rarely seemed more unattainable.
City officials talk of an extraordinary boost for the image of Paris that will give the capital a worthy legacy. But some residents of the poorer Parisian banlieues, or outer suburbs, voice scepticism. “We were the forgotten people of the republic before the Games and we will be forgotten after the Games,” one woman in the Seine-Saint-Denis banlieue and home to the Stade de France, the 2024 Olympic Stadium, told Britain’s Observer newspaper.
Mr Macron has drawn comparison between the Games and another massive event staged at the Stade de France, the 1998 World Cup final, in which France defeated Brazil 3-0.
The multiracial composition of the French squad led to it being nicknamed black-blanc-beur (black, white, Arab), a powerful evocation of unity but pitifully short-lived.
Anyone with knowledge of post-1998 France, and interested in healing the wounds of a divided country, will hope the same laudable sentiment has been generated by the Olympic medallists’ rich mix of ethnic backgrounds. But also that it proves more lasting.
Need to know
The flights: Flydubai flies from Dubai to Kilimanjaro airport via Dar es Salaam from Dh1,619 return including taxes. The trip takes 8 hours.
The trek: Make sure that whatever tour company you select to climb Kilimanjaro, that it is a reputable one. The way to climb successfully would be with experienced guides and porters, from a company committed to quality, safety and an ethical approach to the mountain and its staff. Sonia Nazareth booked a VIP package through Safari Africa. The tour works out to $4,775 (Dh17,538) per person, based on a 4-person booking scheme, for 9 nights on the mountain (including one night before and after the trek at Arusha). The price includes all meals, a head guide, an assistant guide for every 2 trekkers, porters to carry the luggage, a cook and kitchen staff, a dining and mess tent, a sleeping tent set up for 2 persons, a chemical toilet and park entrance fees. The tiny ration of heated water provided for our bath in our makeshift private bathroom stall was the greatest luxury. A standard package, also based on a 4-person booking, works out to $3,050 (Dh11,202) per person.
When to go: You can climb Kili at any time of year, but the best months to ascend are January-February and September-October. Also good are July and August, if you’re tolerant of the colder weather that winter brings.
Do not underestimate the importance of kit. Even if you’re travelling at a relatively pleasant time, be geared up for the cold and the rain.
The biog
Favourite Quote: “Real victories are those that protect human life, not those that result from its destruction emerge from its ashes,” by The late king Hussain of Jordan.
Favourite Hobby: Writing and cooking
Favourite Book: The Prophet by Gibran Khalil Gibran
Our family matters legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
How Islam's view of posthumous transplant surgery changed
Transplants from the deceased have been carried out in hospitals across the globe for decades, but in some countries in the Middle East, including the UAE, the practise was banned until relatively recently.
Opinion has been divided as to whether organ donations from a deceased person is permissible in Islam.
The body is viewed as sacred, during and after death, thus prohibiting cremation and tattoos.
One school of thought viewed the removal of organs after death as equally impermissible.
That view has largely changed, and among scholars and indeed many in society, to be seen as permissible to save another life.
OIL PLEDGE
At the start of Russia's invasion, IEA member countries held 1.5 billion barrels in public reserves and about 575 million barrels under obligations with industry, according to the agency's website. The two collective actions of the IEA this year of 62.7 million barrels, which was agreed on March 1, and this week's 120 million barrels amount to 9 per cent of total emergency reserves, it added.
If you go
The flights
There are various ways of getting to the southern Serengeti in Tanzania from the UAE. The exact route and airstrip depends on your overall trip itinerary and which camp you’re staying at.
Flydubai flies direct from Dubai to Kilimanjaro International Airport from Dh1,350 return, including taxes; this can be followed by a short flight from Kilimanjaro to the Serengeti with Coastal Aviation from about US$700 (Dh2,500) return, including taxes. Kenya Airways, Emirates and Etihad offer flights via Nairobi or Dar es Salaam.
History's medical milestones
1799 - First small pox vaccine administered
1846 - First public demonstration of anaesthesia in surgery
1861 - Louis Pasteur published his germ theory which proved that bacteria caused diseases
1895 - Discovery of x-rays
1923 - Heart valve surgery performed successfully for first time
1928 - Alexander Fleming discovers penicillin
1953 - Structure of DNA discovered
1952 - First organ transplant - a kidney - takes place
1954 - Clinical trials of birth control pill
1979 - MRI, or magnetic resonance imaging, scanned used to diagnose illness and injury.
1998 - The first adult live-donor liver transplant is carried out
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.”
Terror attacks in Paris, November 13, 2015
- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany
- At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people
- Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed
- Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest
- He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
Have you been targeted?
Tuan Phan of SimplyFI.org lists five signs you have been mis-sold to:
1. Your pension fund has been placed inside an offshore insurance wrapper with a hefty upfront commission.
2. The money has been transferred into a structured note. These products have high upfront, recurring commission and should never be in a pension account.
3. You have also been sold investment funds with an upfront initial charge of around 5 per cent. ETFs, for example, have no upfront charges.
4. The adviser charges a 1 per cent charge for managing your assets. They are being paid for doing nothing. They have already claimed massive amounts in hidden upfront commission.
5. Total annual management cost for your pension account is 2 per cent or more, including platform, underlying fund and advice charges.
SERIE A FIXTURES
Saturday Spezia v Lazio (6pm), Juventus v Torino (9pm), Inter Milan v Bologna (7.45pm)
Sunday Verona v Cagliari (3.30pm), Parma v Benevento, AS Roma v Sassuolo, Udinese v Atalanta (all 6pm), Crotone v Napoli (9pm), Sampdoria v AC Milan (11.45pm)
Monday Fiorentina v Genoa (11.45pm)
Company%20Profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20HyveGeo%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202023%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Abdulaziz%20bin%20Redha%2C%20Dr%20Samsurin%20Welch%2C%20Eva%20Morales%20and%20Dr%20Harjit%20Singh%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3ECambridge%20and%20Dubai%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%208%3Cbr%3E%3Cstrong%3EIndustry%3A%20%3C%2Fstrong%3ESustainability%20%26amp%3B%20Environment%3Cbr%3E%3Cstrong%3EFunding%3A%20%3C%2Fstrong%3E%24200%2C000%20plus%20undisclosed%20grant%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EVenture%20capital%20and%20government%3C%2Fp%3E%0A
LA LIGA FIXTURES
Friday Valladolid v Osasuna (Kick-off midnight UAE)
Saturday Valencia v Athletic Bilbao (5pm), Getafe v Sevilla (7.15pm), Huesca v Alaves (9.30pm), Real Madrid v Atletico Madrid (midnight)
Sunday Real Sociedad v Eibar (5pm), Real Betis v Villarreal (7.15pm), Elche v Granada (9.30pm), Barcelona v Levante (midnight)
Monday Celta Vigo v Cadiz (midnight)
ALRAWABI%20SCHOOL%20FOR%20GIRLS
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UAE currency: the story behind the money in your pockets
A little about CVRL
Founded in 1985 by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, the Central Veterinary Research Laboratory (CVRL) is a government diagnostic centre that provides testing and research facilities to the UAE and neighbouring countries.
One of its main goals is to provide permanent treatment solutions for veterinary related diseases.
The taxidermy centre was established 12 years ago and is headed by Dr Ulrich Wernery.
Pakistan World Cup squad
Sarfraz Ahmed (c), Fakhar Zaman, Imam-ul-Haq, Abid Ali, Babar Azam, Haris Sohail, Shoaib Malik, Mohammad Hafeez(subject to fitness), Imad Wasim, Shadab Khan, Hasan Ali, Faheem Ashraf, Junaid Khan, Shaheen Shah Afridi, Mohammad Hasnain
Two additions for England ODIs: Mohammad Amir and Asif Ali
Results:
5pm: Maiden (PA) Dh80,000 1,400m | Winner: Eghel De Pine, Pat Cosgrave (jockey), Eric Lemartinel (trainer)
5.30pm: Maiden (PA) Dh80,000 1,400m | Winner: AF Sheaar, Szczepan Mazur, Saeed Al Shamsi
6pm: Sheikh Zayed bin Sultan Al Nahyan National Day Cup (PA) Group 3 Dh500,000 1,600m | Winner: RB Torch, Fabrice Veron, Eric Lemartinel
6.30pm: Sheikh Zayed bin Sultan Al Nahyan National Day Cup (TB) Listed Dh380,000 1,600m | Winner: Forjatt, Chris Hayes, Nicholas Bachalard
7pm: Wathba Stallions Cup for Private Owners Handicap (PA) Dh 70,000 1,400m | Winner: Hawafez, Connor Beasley, Ridha ben Attia
7.30pm: Handicap (PA) Dh 80,000 1,600m | Winner: Qader, Richard Mullen, Jean de Roaulle
The specs
Engine: 2-litre 4-cylinder and 3.6-litre 6-cylinder
Power: 220 and 280 horsepower
Torque: 350 and 360Nm
Transmission: eight-speed automatic
Price: from Dh136,521 VAT and Dh166,464 VAT
On sale: now
What are the influencer academy modules?
- Mastery of audio-visual content creation.
- Cinematography, shots and movement.
- All aspects of post-production.
- Emerging technologies and VFX with AI and CGI.
- Understanding of marketing objectives and audience engagement.
- Tourism industry knowledge.
- Professional ethics.
Sui Dhaaga: Made in India
Director: Sharat Katariya
Starring: Varun Dhawan, Anushka Sharma, Raghubir Yadav
3.5/5