In the studio complex where the hit drama Game of Thrones was filmed, it was appropriate that Mary Lou McDonald strode into the Belfast election count with the mistakable buzz of triumph among her team.
Northern Ireland politics is regularly marked by dramatic moments that promise a historic turning point. The juncture opened by Ms McDonald, president of the all-Ireland Sinn Fein party, was that its victory would start a push for reunification of the island, cutting the tie to the UK.
In the language of Northern Ireland politics, the process is referred to as a "border poll". Despite the anodyne name, the idea is both controversial and divisive – something that compounds the tensions created by the fragile make-up of the region.
Sinn Fein’s election campaign for the 2022 Northern Ireland assembly said almost nothing about unification and, instead, stressed messages around working together to address cost of living and healthcare issues. Once the votes were in, the Dublin-based Ms McDonald threw off the restrain.
The strategic implications of Irish unity are considerable and not to be underplayed
Work for a border poll should start before the end of the decade, she declared. Indeed she would like it within five years. The change of tone was one aimed much more towards a wider audience beyond the British-run territory.
If it pans out the way Ms McDonald would like it to, the outcome would be seismic. Sinn Fein in two decades has transformed from being the voice of the Irish Republican Army commanding less than 10 per cent of Northern Ireland votes and almost none in the Irish Republic.
As of this week, it commands most seats in the Northern Ireland assembly. It has set its sights on the same goal in the Irish Parliament at the next general election in 2025. Because of the weak and transactional nature of the big Irish parties, it has good chance of doing so.
That would give the tricolour-branded party an immense platform to further the reunification agenda.
There be little doubt about what that would mean for Britain, Europe and indeed the overall shape of the West. The current tensions with Russia are bringing those into focus in ways not seen since the Cold War, or indeed the Second World War.
When Russia’s state TV last week showed a mocked-up strike by a nuclear drone not only wiping out the UK, which it deems as principal enemy, there was outrage in Ireland.
The country’s foreign ministry lodged a protest with Moscow. There were calls in the newspapers for Ireland to expel the Russian ambassador, something that hasn’t really been heard in London.
A few days later, a Russia submarine was spotted off the north-west coast of Ireland, which is a non-aligned state. As such Northern Ireland is an important aspect of the UK's projection into the North Atlantic – and hence that of Nato.
The strategic implications of Irish unity are considerable and not to be underplayed, even if they have been rarely discussed.
There are several reasons why a rush to consider Irish unity can been discounted even after the poll result that has set everybody talking.
In the first place the Sinn Fein campaign placed its northern leader, Michelle O’Neill, on its posters for its presidential-style campaign. Her words have been far more inclusive towards the Unionist tradition. Even Ms McDonald has also told voters from the other tradition “don’t be scared”.
The overall percentage lead between Sinn Fein and its main rival, the Democratic Unionist Party, was 29 per cent to 23 per cent. But parties declaring themselves to be Unionists and parties that are Nationalist both garnered 40 per cent of the vote. A surge in the centrist Alliance Party has boosted the independents to 20 per cent. In effect the ratio of power in Northern Ireland is 4:4:2.
There is almost zero chance that this calculus could be reordered by the establishment of a referendum on Irish unity. The toxic issue of Brexit has if anything entrenched the divisions between each side. Those in the middle may enjoy the advantages of Northern Ireland’s duality too much to make a jump for Irish unity.
Global identity matters for all those involved in the process. Local identity matters even more. Polarisation has been turbo-charged by Brexit. Irish citizens in the south are also puzzled by the northern society and don’t easily understand how they could easily absorb hundreds of thousands of angry and “scared” northern Protestants.
Still, the rise of Sinn Fein both north and south cannot be discounted. It is based on familiar social issues of inequality and frustration at the economic disparities throw up by the modern economy.
The party’s ideological roots cannot be separated out by the fact that its electoral gains are based on different strands.
The wisest in the party lay a different stress from Ms McDonald. They point to Brexit and say the last thing they want is a referendum that they win and then don’t have a clue what to do with their victory.
Taking a step back, they see the Irish state as in need of overhaul. Northern Ireland would have to change, too, if it were to be absorbed into an all-island entity. Why not have a citizen's assembly to say a poll on Northern Ireland would be a vote on hitting the reset button across the whole of Ireland.
That would be something worth voting for: the future.
Indoor cricket in a nutshell
Indoor Cricket World Cup - Sept 16-20, Insportz, Dubai
16 Indoor cricket matches are 16 overs per side
8 There are eight players per team
9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.
5 Five runs are deducted from the score when a wickets falls
4 Batsmen bat in pairs, facing four overs per partnership
Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.
Zones
A Front net, behind the striker and wicketkeeper: 0 runs
B Side nets, between the striker and halfway down the pitch: 1 run
C Side nets between halfway and the bowlers end: 2 runs
D Back net: 4 runs on the bounce, 6 runs on the full
KILLING OF QASSEM SULEIMANI
Europe’s rearming plan
- Suspend strict budget rules to allow member countries to step up defence spending
- Create new "instrument" providing €150 billion of loans to member countries for defence investment
- Use the existing EU budget to direct more funds towards defence-related investment
- Engage the bloc's European Investment Bank to drop limits on lending to defence firms
- Create a savings and investments union to help companies access capital
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.”
Tips from the expert
Dobromir Radichkov, chief data officer at dubizzle and Bayut, offers a few tips for UAE residents looking to earn some cash from pre-loved items.
- Sellers should focus on providing high-quality used goods at attractive prices to buyers.
- It’s important to use clear and appealing photos, with catchy titles and detailed descriptions to capture the attention of prospective buyers.
- Try to advertise a realistic price to attract buyers looking for good deals, especially in the current environment where consumers are significantly more price-sensitive.
- Be creative and look around your home for valuable items that you no longer need but might be useful to others.
Emergency phone numbers in the UAE
Estijaba – 8001717 – number to call to request coronavirus testing
Ministry of Health and Prevention – 80011111
Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre
Emirates airline – 600555555
Etihad Airways – 600555666
Ambulance – 998
Knowledge and Human Development Authority – 8005432 ext. 4 for Covid-19 queries
The specs: 2017 Lotus Evora Sport 410
Price, base / as tested Dh395,000 / Dh420,000
Engine 3.5L V6
Transmission Six-speed manual
Power 410hp @ 7,000rpm
Torque 420Nm @ 3,500rpm
Fuel economy, combined 9.7L / 100km
Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
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