Shelina Janmohamed is an author and a culture columnist for The National
June 02, 2022
My favourite story about Queen Elizabeth is to do with her car. Sir Sherard Cowper-Cowles, who was then the British ambassador to Saudi Arabia recounts that in 2003, then Crown Prince Abdullah came to visit the Queen in Balmoral, Scotland.
He agreed to the Queen’s suggestion to take a tour of the grounds, and the royal Land Rovers were brought to the front of the castle. He climbed into the front, and an interpreter climbed into the back. To the surprise of the Crown Prince, it was the Queen who climbed into the driving seat, turned the ignition on and drove off.
Mr Cowper-Cowles further recounts that the nervousness of the Crown Prince “only increased as the Queen, an army driver in wartime, accelerated the Land Rover along the narrow Scottish estate roads, talking all the time. Through his interpreter, the Crown Prince implored the Queen to slow down and concentrate on the road ahead.”
This story has me smiling every time I think of it – the image of a daredevil driver in the shape of a small female figure goes against our stereotypes of femininity and what place women are supposed to occupy in the world. Fearlessly deploying her power and platform, she is literally at the driving wheel and moving her life forward on her own terms, disregarding outdated notions.
It's one of many stories that leave us in no doubt that the Queen is a female icon. And one that resonates particularly strongly for me as a British South Asian woman who advocates for women’s representation.
Queen Elizabeth II has often been seen behind the wheel of a royal Land Rover. PA
The image of a daredevil driver in the shape of a small female figure goes against our stereotypes of femininity
I’m a Muslim woman who covers her hair. So when detractors have come my way to suggest that I’m oppressed, submissive and don’t know my own mind (slurs often thrown with plenty of hateful glee), I must admit I relished sending pictures of her Majesty sporting her iconic headscarf. Her openness about the centrality of her faith and its role in her public service commitments has also been important for me.
She has been on the world stage for nearly a century, and this weekend the UK is celebrating her platinum jubilee, 70 years as the monarch. The nation’s longest-ever serving head of state, she ascended the throne in 1952 and had her coronation in 1953.
She kept her own family name as she stepped up to the throne, despite her husband's objections at the time. Wherever she travelled for work, it was her husband who followed, a stark contrast to political wives and first ladies even today. The Times newspaper described her husband Prince Phillip as an "accidental feminist". If a Prince could follow his wife (often even walking a few steps behind), then why should other women be stopped?
She has epitomised the act that women carry out as “chief memory makers”. This is the role that women often play in the household by default, creating the traditions, memories and culture that bind a family together. She has been Britain's Chief Memory Maker on the national and global stage through the acts of service and awarding recognition, but also simply through her own persona and longevity. That is why the details around her rein are so staggering. Most notably, she has seen 14 prime ministers.
There is of course a paradox between her personal status as a female icon and the constitutional system of monarchy she has stepped into through inheritance, the figurehead of a once imperial power (a system in which female leaders have been exceptions).
This is a paradox that people will continue to unpack for many years: a female icon in a bigger system where privilege, power, influence, ethnicity and, yes, patriarchy continue to play a significant role in shaping the lives of women and other groups.
That feels raw for Brits whose place in the country is a product of empire, but who at the same time have grown up in this new "Elizabethan" era.
When the Queen ascended the throne in 1952, my parents’ country, Tanzania, was still in the Empire. That of my great great grandparents, India, had barely emerged from the Empire four years earlier. And the legacy of empire is still unfolding today.
And yet here I am in Britain, a proud British Muslim Londoner of South Asian heritage who also appreciates the iconic status of the Queen as a woman, and how her dignity and confidence in asserting her power as a woman has laid a template for changing womanhood.
For women who are interested in the stories of other women, that of the Queen will always be particularly fascinating. Of course, we will never know what much of her life was like behind closed doors – we can only wonder what historic moments were like in her eyes.
For that popular dinner-party question "If you could have dinner with anyone, who would it be?", surely for many not just in the UK, but around the world, one answer would have to be the Queen. She is a woman with influence, power and prestige, with access to any and all, present at each defining moment, and having presided over a time of immense transformation, perhaps with more change and paradigm shifts than any other.
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.”
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
What is Financial Fair Play?
Introduced in 2011 by Uefa, European football’s governing body, it demands that clubs live within their means. Chiefly, spend within their income and not make substantial losses.
What the rules dictate?
The second phase of its implementation limits losses to €30 million (Dh136m) over three seasons. Extra expenditure is permitted for investment in sustainable areas (youth academies, stadium development, etc). Money provided by owners is not viewed as income. Revenue from “related parties” to those owners is assessed by Uefa's “financial control body” to be sure it is a fair value, or in line with market prices.
What are the penalties?
There are a number of punishments, including fines, a loss of prize money or having to reduce squad size for European competition – as happened to PSG in 2014. There is even the threat of a competition ban, which could in theory lead to PSG’s suspension from the Uefa Champions League.
The Voice of Hind Rajab
Starring: Saja Kilani, Clara Khoury, Motaz Malhees
Director: Kaouther Ben Hania
Rating: 4/5
The National in Davos
We are bringing you the inside story from the World Economic Forum's Annual Meeting in Davos, a gathering of hundreds of world leaders, top executives and billionaires.
Cryopreservation: A timeline
Keyhole surgery under general anaesthetic
Ovarian tissue surgically removed
Tissue processed in a high-tech facility
Tissue re-implanted at a time of the patient’s choosing
Full hormone production regained within 4-6 months
Education: Bachelors degree in mechanical engineering
Favourite colour: White
Favourite place in the UAE: Downtown Dubai
Favourite book: A Life in Administration by Ghazi Al Gosaibi.
First owned baking book: How to Be a Domestic Goddess by Nigella Lawson.
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
The biog
Name: Dhabia Khalifa AlQubaisi
Age: 23
How she spends spare time: Playing with cats at the clinic and feeding them
Inspiration: My father. He’s a hard working man who has been through a lot to provide us with everything we need
Favourite book: Attitude, emotions and the psychology of cats by Dr Nicholes Dodman
Favourit film: 101 Dalmatians - it remind me of my childhood and began my love of dogs
Word of advice: By being patient, good things will come and by staying positive you’ll have the will to continue to love what you're doing
A timeline of the Historical Dictionary of the Arabic Language
2018: Formal work begins
November 2021: First 17 volumes launched
November 2022: Additional 19 volumes released
October 2023: Another 31 volumes released
November 2024: All 127 volumes completed
The Travel Diaries of Albert Einstein The Far East, Palestine, and Spain, 1922 – 1923
Editor Ze’ev Rosenkranz
Princeton
Tightening the screw on rogue recruiters
The UAE overhauled the procedure to recruit housemaids and domestic workers with a law in 2017 to protect low-income labour from being exploited.
Only recruitment companies authorised by the government are permitted as part of Tadbeer, a network of labour ministry-regulated centres.
A contract must be drawn up for domestic workers, the wages and job offer clearly stating the nature of work.
The contract stating the wages, work entailed and accommodation must be sent to the employee in their home country before they depart for the UAE.
The contract will be signed by the employer and employee when the domestic worker arrives in the UAE.
Only recruitment agencies registered with the ministry can undertake recruitment and employment applications for domestic workers.
Penalties for illegal recruitment in the UAE include fines of up to Dh100,000 and imprisonment
But agents not authorised by the government sidestep the law by illegally getting women into the country on visit visas.
Why it pays to compare
A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.
Route 1: bank transfer
The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.
Total cost: Dh567.25 - around 2.9 per cent of the total amount
Total received: €4,670.30
Route 2: online platform
The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.
Total cost: Dh74.10, around 0.4 per cent of the transaction
Total received: €4,756
The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.
