Can Boris Johnson survive as Britain’s prime minister? If I could reliably predict the future I’d be making a living on horse racing, but I will try to answer that question in a moment. Clearly 2021 is ending disastrously for Mr Johnson. Until now, he has been Britain’s Teflon prime minister. Nothing sticks – not his policy failures, nor what British people have seen of his deceptions and the numerous allegations of dodgy dealings about money, cronyism and patronage. But Teflon Boris has worn thin. So has his comic persona in such serious times, with another wave of coronavirus upon us. One successful prediction that I did make about Mr Johnson was published in The National in October 2020. I wrote that 2019 had been Johnson’s year of great successes in becoming prime minister, leading his party to an 80-seat majority, but by 2021 he would hit the hard brick wall of reality. There would be a series of failures and broken promises. And so it has proved.
More than 146,000 British people have now died with the coronavirus. The Johnson government was slow to react and remains conflicted on what to do. There is a backlash within his own Conservative party against his announcement of new Covid-19 restrictions, despite fears that the National Health Service is near to being overwhelmed.
Then there is Brexit, which despite his boasts, is not “done”. Far from it. Mr Johnson is trying to unpick the deal he negotiated, in a way that has irritated Ireland and much of the EU, and ultimately has ensured that his much-promoted idea of a US-UK trade deal is unlikely to happen with the Biden administration.
He is also at loggerheads with France over asylum seekers. Then there is the botched withdrawal from Afghanistan. The incompetence of the Johnson government has cost the lives of Afghans who tried to help the British against the Taliban. The British economy is under-performing, thanks to Brexit. Taxes are going up. So is inflation. GDP is predicted to underperform by 4 per cent. Promises about building 40 new hospitals and a new high-speed trainline connecting northern English cities have proved to be questionable salesmanship. And almost daily the Johnson administration is mired in allegations of sleaze and lying.
What was not predictable, however, was that the one scandal which would cut through to British voters would involve a Christmas quiz hosted by Johnson at Downing Street. At the informal party, the staff drank alcohol while the rest of the country was under severe coronavirus restrictions, and ordinary citizens who held parties were fined for committing a criminal offence. The recording of Johnson’s staff laughing and joking as they rehearsed how to handle this potential scandal nicknamed “Partygate,” became a worldwide viral sensation. It came as British families mourned their coronavirus dead or restricted their behaviour to obey Mr Johnson’s own government rules.
As a classics scholar, Mr Johnson will know the observation of the ancient Greek philosopher Heraclitus: “character is destiny”. That is both Johnson’s strength and his likely downfall. He has been able to change his policies, break his promises, promote fantastic schemes for bridges, airports and new hospitals that never get built, and still be popular with voters who never much believed him anyway.
They immediately saw his character as that of a shambolic personality who could break the mould of politics-as-usual, and that was attractive to some. But the other part of Mr Johnson’s character is of someone who sees rules as only for the little people, not for himself, combined with the British Labour party leader Kier Starmer’s characterisation of Mr Johnson as a “trivial” man, incapable of being truly serious in serious times.
Mr Johnson, therefore, looks to be in the twilight of his political career. A special by-election takes place on Thursday in North Shropshire, a rock solid Conservative seat, one of the safest in England. If the Conservatives were to lose there, then Mr Johnson’s key attraction to his party – being a vote winner – will have gone, and so, soon, could he. But assuming his party does retain this North Shropshire seat, Boris Johnson will likely stagger on into 2022, distrusted, and plagued by scandals which will multiply. His Downing Street staff are unlikely to be loyal to a leader who seems to regard those around him as a human shield, to be sacked to save his own career.
If this prediction is correct, then 2022 will begin with Mr Johnson in office but not really in power, wounded and weakened. That may suit Mr Johnson’s opponents in the Labour party, who have been revitalised in recent weeks and who scent blood. A new Conservative leader, a new prime minister, someone more competent and hardworking than Boris Johnson, could quite possibly revive the Conservative party’s fortunes. If Mr Johnson cares about his country or his party then he will go. If he cares only about himself, he will stay. His character suggests he will stay, twisting in the wind.
How to join and use Abu Dhabi’s public libraries
• There are six libraries in Abu Dhabi emirate run by the Department of Culture and Tourism, including one in Al Ain and Al Dhafra.
• Libraries are free to visit and visitors can consult books, use online resources and study there. Most are open from 8am to 8pm on weekdays, closed on Fridays and have variable hours on Saturdays, except for Qasr Al Watan which is open from 10am to 8pm every day.
• In order to borrow books, visitors must join the service by providing a passport photograph, Emirates ID and a refundable deposit of Dh400. Members can borrow five books for three weeks, all of which are renewable up to two times online.
• If users do not wish to pay the fee, they can still use the library’s electronic resources for free by simply registering on the website. Once registered, a username and password is provided, allowing remote access.
• For more information visit the library network's website.
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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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COMPANY%20PROFILE
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The Great Derangement: Climate Change and the Unthinkable
Amitav Ghosh, University of Chicago Press
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Company%20profile
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UAE currency: the story behind the money in your pockets
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.
Brief scores:
Huesca 0
Real Madrid 1
Bale 8'
if you go
The flights Fly Dubai, Air Arabia, Emirates, Etihad, and Royal Jordanian all offer direct, three-and-a-half-hour flights from the UAE to the Jordanian capital Amman. Alternatively, from June Fly Dubai will offer a new direct service from Dubai to Aqaba in the south of the country. See the airlines’ respective sites for varying prices or search on reliable price-comparison site Skyscanner.
The trip
Jamie Lafferty was a guest of the Jordan Tourist Board. For more information on adventure tourism in Jordan see Visit Jordan. A number of new and established tour companies offer the chance to go caving, rock-climbing, canyoning, and mountaineering in Jordan. Prices vary depending on how many activities you want to do and how many days you plan to stay in the country. Among the leaders are Terhaal, who offer a two-day canyoning trip from Dh845 per person. If you really want to push your limits, contact the Stronger Team. For a more trek-focused trip, KE Adventure offers an eight-day trip from Dh5,300 per person.
Mohammed bin Zayed Majlis
Mohammed bin Zayed Majlis
Best Academy: Ajax and Benfica
Best Agent: Jorge Mendes
Best Club : Liverpool
Best Coach: Jurgen Klopp (Liverpool)
Best Goalkeeper: Alisson Becker
Best Men’s Player: Cristiano Ronaldo
Best Partnership of the Year Award by SportBusiness: Manchester City and SAP
Best Referee: Stephanie Frappart
Best Revelation Player: Joao Felix (Atletico Madrid and Portugal)
Best Sporting Director: Andrea Berta (Atletico Madrid)
Best Women's Player: Lucy Bronze
Best Young Arab Player: Achraf Hakimi
Kooora – Best Arab Club: Al Hilal (Saudi Arabia)
Kooora – Best Arab Player: Abderrazak Hamdallah (Al-Nassr FC, Saudi Arabia)
Player Career Award: Miralem Pjanic and Ryan Giggs
The more serious side of specialty coffee
While the taste of beans and freshness of roast is paramount to the specialty coffee scene, so is sustainability and workers’ rights.
The bulk of genuine specialty coffee companies aim to improve on these elements in every stage of production via direct relationships with farmers. For instance, Mokha 1450 on Al Wasl Road strives to work predominantly with women-owned and -operated coffee organisations, including female farmers in the Sabree mountains of Yemen.
Because, as the boutique’s owner, Garfield Kerr, points out: “women represent over 90 per cent of the coffee value chain, but are woefully underrepresented in less than 10 per cent of ownership and management throughout the global coffee industry.”
One of the UAE’s largest suppliers of green (meaning not-yet-roasted) beans, Raw Coffee, is a founding member of the Partnership of Gender Equity, which aims to empower female coffee farmers and harvesters.
Also, globally, many companies have found the perfect way to recycle old coffee grounds: they create the perfect fertile soil in which to grow mushrooms.