After Kuok Keng Kang moved from Fuzhou in China to the city of Johor Bahru in what was then Malaya in the early 20th century, he made and then lost a fortune. His youngest son later recalled that household finances were so tight they had to use laundry soap to shampoo their hair. That boy, Robert, went on to become one of East Asia’s most successful businessmen, earning himself the nickname “the sugar king of Asia” when he controlled 10 per cent of world production and founding the Shangri-La chain of hotels.
When Marie Jana Korbelova was 11, her family moved to the US after the communist takeover of then Czechoslovakia. Her father, Josef Korbel, ended up having the international studies school at the University of Denver named after him, while Marie Jana, by now Madeleine Albright, became the first woman to hold the office of US secretary of state.
These two may be exceptional, but stories of immigrant success are plentiful. Yet, so much of the time immigration is seen to be a “problem”. UK Prime Minister Liz Truss’s plan to increase the number of foreign workers who can come to the country risks a cabinet split and “may irk some Brexit voters”, according to reports. In recent elections in Sweden and Italy, parties of the far right that rely on tough anti-immigration rhetoric did so well that the Brothers of Italy will lead the next government in Rome, and the Sweden Democrats will be the kingmakers in Stockholm.
The Brothers of Italy want a naval blockade in the Mediterranean to stop migrants crossing from Northern Africa, while a tweet from the Sweden Democrats' law and order spokesman, Tobias Andersson, sums up his party’s stance: “Welcome to the repatriation train. You have a one-way ticket. Next stop, Kabul!”
If you live and work in a country not of your birth or nationality then you too are an immigrant
To be sure, immigration has to be managed, it must be legal, and the consequent benefits of greater diversity need to be explained and integration promoted. But the whole narrative about the movement of people needs to be reframed. For first of all, it is often the answer to an immediate issue. Labour shortages across industry have led to thousands of tonnes of palm oil fruits rotting on trees in Malaysia, for instance, and there have been reports of finance executives being asked to help out on electronics factory floors. Foreign workers are desperately needed, as they are in the UK, hence Ms Truss’s likely lifting of caps on agricultural and broadband employees.
Secondly, and this is a point that needs to be made far more strongly as it never seems to resonate loudly enough to overcome either genuine fears or nativist scaremongering: survey after survey shows that immigration is good for the economy. A report by the Organisation for Economic Co-operation and Development concluded that “migrants contribute more in taxes and social contributions than they receive in benefits”.
They arrive with skills that contribute to human capital development; often fill niches that domestic workers either can’t or don’t want to plug; boost the working-age population; and increase dynamism and market flexibility in the host country. A 2016 paper by the George W Bush Institute reported that in America, 44 per cent of medical scientists were foreign born, as were 42 per cent of computer software developers. “Immigrant workers are also overrepresented among college professors, engineers, mathematicians, nurses, doctors and dentists, to name a few.”
But thirdly, there is another way of looking at immigration that casts aside the lenses of anxiety and negativity. For if you think about it, immigrants wanting to come to your country is the most tremendous compliment. They are saying that your culture, way of life, civilisation, educational and commercial opportunities and standards of living are so attractive that they want to leave their home country and move to yours. That doesn’t mean displacing ordinary citizens, or taking the “American dream”, for example, away from anyone – the desire is to share it.
Many of us may have experienced some – not necessarily all – of these emotions, yet believe them to be separate from this issue. They are not. For if you live and work in a country not of your birth or nationality then you too are an immigrant. The term has become associated with poor, desperate masses – who by the way, very much deserve both our sympathy and the chance to lead better lives – but a professional with a master’s degree who has willingly moved country is just as much an immigrant.
For me personally, with Irish, English, Italian and French ancestry, immigration is the story of my family. Having grown up partly in Saudi Arabia and Papua New Guinea, and living in Qatar and Malaysia as an adult, immigration has been a major experience of my life. Has it been easier because I am a Caucasian male who had a privileged education? Almost certainly. But that doesn’t discount my many years away from my supposed “home” country as invalid or inauthentic.
We need a total reframing of how we think about immigration. We must talk more about all the positive aspects of this phenomenon, from the success stories of the likes of Robert Kuok and Madeleine Albright, to the way exposure to new cultures and traditions opens and enlarges the mind. That goes both ways: just as the voyager’s life is enriched by the places he visits, so should countries welcome newcomers who will always have different skills and perspectives – and will probably harbour gratitude for the people who have taken them in for the rest of their lives.
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Stage result
1. Pascal Ackermann (GER) Bora-Hansgrohe, in 3:29.09
2. Caleb Ewan (AUS) Lotto-Soudal
3. Rudy Barbier (FRA) Israel Start-Up Nation
4. Dylan Groenewegen (NED) Jumbo-Visma
5. Luka Mezgec (SLO) Mitchelton-Scott
6. Alberto Dainese (ITA) Sunweb
7. Jakub Mareczko (ITA) CCC
8. Max Walscheid (GER) NTT
9. José Rojas (ESP) Movistar
10. Andrea Vendrame (ITA) Ag2r La Mondiale, all at same time
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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Dirham Stretcher tips for having a baby in the UAE
Selma Abdelhamid, the group's moderator, offers her guide to guide the cost of having a young family:
• Buy second hand stuff
They grow so fast. Don't get a second hand car seat though, unless you 100 per cent know it's not expired and hasn't been in an accident.
• Get a health card and vaccinate your child for free at government health centres
Ms Ma says she discovered this after spending thousands on vaccinations at private clinics.
• Join mum and baby coffee mornings provided by clinics, babysitting companies or nurseries.
Before joining baby classes ask for a free trial session. This way you will know if it's for you or not. You'll be surprised how great some classes are and how bad others are.
• Once baby is ready for solids, cook at home
Take the food with you in reusable pouches or jars. You'll save a fortune and you'll know exactly what you're feeding your child.
MATCH INFO
Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid
When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid
Profile Periscope Media
Founder: Smeetha Ghosh, one co-founder (anonymous)
Launch year: 2020
Employees: four – plans to add another 10 by July 2021
Financing stage: $250,000 bootstrap funding, approaching VC firms this year
Investors: Co-founders
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UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Stormy seas
Weather warnings show that Storm Eunice is soon to make landfall. The videographer and I are scrambling to return to the other side of the Channel before it does. As we race to the port of Calais, I see miles of wire fencing topped with barbed wire all around it, a silent ‘Keep Out’ sign for those who, unlike us, aren’t lucky enough to have the right to move freely and safely across borders.
We set sail on a giant ferry whose length dwarfs the dinghies migrants use by nearly a 100 times. Despite the windy rain lashing at the portholes, we arrive safely in Dover; grateful but acutely aware of the miserable conditions the people we’ve left behind are in and of the privilege of choice.
AI traffic lights to ease congestion at seven points to Sheikh Zayed bin Sultan Street
The seven points are:
Shakhbout bin Sultan Street
Dhafeer Street
Hadbat Al Ghubainah Street (outbound)
Salama bint Butti Street
Al Dhafra Street
Rabdan Street
Umm Yifina Street exit (inbound)
Racecard
5.25pm: Etihad Museum – Maiden (TB) Dh82,500 (Turf) 1,200m
6pm: Al Shindaga Museum – Handicap (TB) Dh87,500 (Dirt) 1,200m
6.35pm: Poet Al Oqaili – Handicap (TB) Dh95,000 (T) 1,400m
7.10pm: Majlis Ghurfat Al Sheif – Handicap (TB) Dh87,500 (D) 1,600m
7.45pm: Hatta – Handicap (TB) Dh95,000 (T) 1,400m
8.20pm: Al Fahidi – Rated Conditions (TB) Dh87,500 (D) 2,200m
8.55pm: Zabeel Trophy – Rated Conditions (TB) Dh120,000 (T) 1,600m
9.30pm: Coins Museum – Rated Conditions (TB) Dh95,000 (D) 1,600m
10.05pm: Al Quoz Creative – Handicap (TB) Dh95,000 (T) 1,000m
RACECARD%20
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What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
Learn more about Qasr Al Hosn
In 2013, The National's History Project went beyond the walls to see what life was like living in Abu Dhabi's fabled fort:
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The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
Essentials
The flights
Return flights from Dubai to Windhoek, with a combination of Emirates and Air Namibia, cost from US$790 (Dh2,902) via Johannesburg.
The trip
A 10-day self-drive in Namibia staying at a combination of the safari camps mentioned – Okonjima AfriCat, Little Kulala, Desert Rhino/Damaraland, Ongava – costs from $7,000 (Dh25,711) per person, including car hire (Toyota 4x4 or similar), but excluding international flights, with The Luxury Safari Company.
When to go
The cooler winter months, from June to September, are best, especially for game viewing.
Blonde
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Zombieland: Double Tap
Director: Ruben Fleischer
Stars: Woody Harrelson, Jesse Eisenberg, Emma Stone
Four out of five stars