The sun is shining on the white cliffs along the south coast of England, and a sailing club is launching boats into the sea. The wind picks up and one or two dinghies capsize, but the club is well organised. It is safe at sea here because the club’s motor boats patrol the area to help sailors who get into difficulty.
The English Channel is one of the world’s busiest shipping lanes and safety is a top priority. There is a lifeboat station less than a kilometre away, and at weekends Royal National Lifeboat Institution (RNLI) crews train in the sea, roaring up and down the coast, practising their drills and life-saving rescues.
In Scotland this week they rescued a kayaker who had fallen and broken her hip. The Shoreham crew saved a fisherman whose boat sank. And the most wonderful part is that RNLI crews are not paid. They are volunteers, risking their lives to save others. The RNLI is a charity founded in 1824, a life-saving service entirely dependent on goodwill and donations. How uncontroversial, you might think, to celebrate this, the best of British traditions.
But now the RNLI is mired in a political row started by a veteran right wing politician, Nigel Farage, formerly a Member of the European parliament for some 20 years. Mr Farage’s big political success was to push Britain into leaving the EU through his UK Independence Party and later the Brexit party.
He is an ultra-nationalist, draped in the British flag, at times dressing in Union Jack ties, socks and even flag-bearing shoes, and filmed singing supposedly patriotic songs, while embroiling himself in various anti-immigrant stunts. Now Mr Farage has attacked the RNLI for acting as what he calls a “migrant taxi service”. Record numbers of migrants have set out in small boats from France this summer, landing on the Kent coast to claim asylum. Migrants typically pay around €3000 each to people-traffickers and are crammed into small unseaworthy vessels as they cross 50 kilometres from the French port of Calais.
Inevitably some boats leak and start to sink. RNLI volunteers pick up those in distress and bring them to safety. They do not ask for passports, money or anything else. They do not ask if those in trouble are British or from some other part of the world and they do not care about the colour of a person’s skin. These are risky humanitarian encounters, not a “taxi service”. But Mr Farage now has a TV show on an obscure and ailing channel. Stirring controversy to seek publicity might be his most significant talent. Why else would anyone wear the UK’s national flag on their shoes?
Mr Farage’s attack on the RNLI certainly earned him news headlines but it has backfired. Donations to our brave lifeboat crews have skyrocketed – £200,000 in just one day or about 30 times the average normal donation.
Even so, the Farage brand of toxic nationalism has been echoed on radio talk shows by angry callers who seem to think watching other human beings drown at sea is a price worth paying to keep migrants from landing in England.
Yet there is something fundamentally irrational about all this pseudo-patriotic posturing. Nigel Farage and his tribe of followers constantly lecture the world about how they love Britain, yet they clearly hate the reality of the country they claim to adore.
Modern Britain is multi-cultural, mostly tolerant, charitable and welcoming. Yet Mr Farage and his friends see only enemies. Some attack the racially diverse England football team for “taking the knee”. They routinely loathe truly great British institutions beyond the RNLI. They despise the BBC and even attack that other great British invention, the National Trust. The Trust – which has more than five million members – preserves England’s heritage and stately homes, and is now re-evaluating its buildings to check for historic connections to the slave trade. In hating our finest institutions, therefore, Mr Farage is in love only with a non-existent imagined Britain rooted in the 1950s. That is not patriotism. It is a nostalgic delusion.
The RNLI row has shown how the best of Britain can win the cultural struggle against the worst. RNLI volunteers will still be saving lives when Mr Farage and his culture warriors are consigned to history. And here I should declare a bias. A local hardware store accepts book donations and sells the used books for £1 each. All the money they raise is given to Kent lifeboat volunteers. My children buy books from this store. Their pounds support the RNLI. I support the RNLI. Britain supports the RNLI.
Perhaps one day we will discover a lifeboat capable of rescuing some of our fellow citizens from drowning in their own narrow-minded nastiness. After all, for some people, a man wearing Union Jack shoes and singing "Rule, Britannia" is considered to be a sage. And given that, rescuing these befuddled patriots from their sea of nostalgia will not be easy.
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In numbers: China in Dubai
The number of Chinese people living in Dubai: An estimated 200,000
Number of Chinese people in International City: Almost 50,000
Daily visitors to Dragon Mart in 2018/19: 120,000
Daily visitors to Dragon Mart in 2010: 20,000
Percentage increase in visitors in eight years: 500 per cent
What is blockchain?
Blockchain is a form of distributed ledger technology, a digital system in which data is recorded across multiple places at the same time. Unlike traditional databases, DLTs have no central administrator or centralised data storage. They are transparent because the data is visible and, because they are automatically replicated and impossible to be tampered with, they are secure.
The main difference between blockchain and other forms of DLT is the way data is stored as ‘blocks’ – new transactions are added to the existing ‘chain’ of past transactions, hence the name ‘blockchain’. It is impossible to delete or modify information on the chain due to the replication of blocks across various locations.
Blockchain is mostly associated with cryptocurrency Bitcoin. Due to the inability to tamper with transactions, advocates say this makes the currency more secure and safer than traditional systems. It is maintained by a network of people referred to as ‘miners’, who receive rewards for solving complex mathematical equations that enable transactions to go through.
However, one of the major problems that has come to light has been the presence of illicit material buried in the Bitcoin blockchain, linking it to the dark web.
Other blockchain platforms can offer things like smart contracts, which are automatically implemented when specific conditions from all interested parties are reached, cutting the time involved and the risk of mistakes. Another use could be storing medical records, as patients can be confident their information cannot be changed. The technology can also be used in supply chains, voting and has the potential to used for storing property records.
Ziina users can donate to relief efforts in Beirut
Ziina users will be able to use the app to help relief efforts in Beirut, which has been left reeling after an August blast caused an estimated $15 billion in damage and left thousands homeless. Ziina has partnered with the United Nations High Commissioner for Refugees to raise money for the Lebanese capital, co-founder Faisal Toukan says. “As of October 1, the UNHCR has the first certified badge on Ziina and is automatically part of user's top friends' list during this campaign. Users can now donate any amount to the Beirut relief with two clicks. The money raised will go towards rebuilding houses for the families that were impacted by the explosion.”
Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
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Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
Sanju
Produced: Vidhu Vinod Chopra, Rajkumar Hirani
Director: Rajkumar Hirani
Cast: Ranbir Kapoor, Vicky Kaushal, Paresh Rawal, Anushka Sharma, Manish’s Koirala, Dia Mirza, Sonam Kapoor, Jim Sarbh, Boman Irani
Rating: 3.5 stars
The specs
Price, base / as tested Dh100,000 (estimate)
Engine 2.4L four-cylinder
Gearbox Nine-speed automatic
Power 184bhp at 6,400rpm
Torque 237Nm at 3,900rpm
Fuel economy, combined 9.4L/100km
Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
Indoor Cricket World Cup - Sept 16-20, Insportz, Dubai
Gulf Under 19s final
Dubai College A 50-12 Dubai College B
RESULTS
6.30pm: Meydan Sprint Group 2 US$175,000 1,000m
Winner: Ertijaal, Jim Crowley (jockey), Ali Rashid Al Raihe (trainer)
7.05pm: Handicap $60,000 1,400m
Winner: Secret Ambition, Richard Mullen, Satish Seemar
7.40pm: Handicap $160,000 1,400m
Winner: Raven’s Corner, Richard Mullen, Satish Seemar
8.15pm: Dubai Millennium Stakes Group 3 $200,000 2,000m
Winner: Folkswood, William Buick, Charlie Appleby
8.50pm: Zabeel Mile Group 2 $250,000 1,600m
Winner: Janoobi, Jim Crowley, Mike de Kock
9.25pm: Handicap $125,000 1,600m
Winner: Capezzano, Mickael Barzalona, Salem bin Ghadayer
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Citadel: Honey Bunny first episode
Directors: Raj & DK
Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon
Rating: 4/5
Fanney Khan
Producer: T-Series, Anil Kapoor Productions, ROMP, Prerna Arora
Director: Atul Manjrekar
Cast: Anil Kapoor, Aishwarya Rai, Rajkummar Rao, Pihu Sand
Rating: 2/5
BABYLON
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Our House, Louise Candlish,
Simon & Schuster
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 specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
Skoda Superb Specs
Engine: 2-litre TSI petrol
Power: 190hp
Torque: 320Nm
Price: From Dh147,000
Available: Now
Biography
Favourite Meal: Chicken Caesar salad
Hobbies: Travelling, going to the gym
Inspiration: Father, who was a captain in the UAE army
Favourite read: Rich Dad Poor Dad by Robert Kiyosaki and Sharon Lechter
Favourite film: The Founder, about the establishment of McDonald's
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