There is something special about the fact that Rishi Sunak is the UK’s first Asian, as well as first Hindu, prime minister. It says something about the UK. But there is plenty it does not say, and a lot of wishful thinking seems to abound over his appointment. We have to be careful about reading too much into it, both positively and negatively.
Firstly, the UK is not the first western European country to have a prime minister with Indian heritage. The UK’s western neighbour, Ireland, had one from 2017 to 2020 in Leo Varadkar, and who will be PM in a few weeks in the planned power sharing rotation. When that happened in Ireland, however, it was not lauded particularly as a massive milestone. Irish society might have had their first mixed race prime minister, but it seemed to be an ordinary event. Race didn’t come up particularly, and to this day, even while Mr Varadkar has his critics in Irish politics, race does not seem to have ever come up.
Indeed, when Mr Varadkar pushed an actively anti-racist platform on several issues, such as removing statues of slave owners, or expressing support for the Black Lives Movement in the US, it didn’t really turn heads in Irish society.
There are those that want to imagine that the UK has got to this point – that Mr Sunak’s race and minority religious status as a practicing Hindu, is simply irrelevant for the British public. Hence his being elected as the new leader of the Conservative Party, and thus prime minister, was extraordinary in its ordinariness.
There are others who go in the other direction, which we saw on the Daily Show, a popular American comedy-news show, where it was claimed there was a massive "backlash" against Mr Sunak’s becoming Britain’s prime minister, due to his Indian origins. The host, Trevor Noah, defended his comments, insisting that he wasn’t making a generalised characterisation of British society writ large, but was talking about only "some" people.
Noah was wrong – but also right. He was very wrong in saying there was a backlash against Mr Sunak due to his Indian origins – his belonging to the UK seemed barely to come up as an issue, even at the height of campaigning. The closest one could say it came up as a point of contention was related to taxation issues, as Akshata Murty, Mr Sunak’s wife, claimed to be "non-domiciled" in the UK for tax purposes.
And even then, his own Indian origins were not seen as controversial. Quite rightly so – and quite unlike when former US president, Barack Obama, was elected in 2008. Then, his mixed race and Black heritage served as a lightning rod for right-wing and far-right wing opponents to question his fitness for the presidency. No doubt, there is a temptation to see Mr Sunak as somehow a British version of Mr Obama – but Mr Sunak likely did not have to overcome huge anti-Indian racism in the UK to gain his position, in remotely the same way that Mr Obama had to overcome anti-Black racism in the US.
But that does not mean the UK actually does not have a problem with racism, or indeed with minority religious groupings. Mr Sunak has Indian origins, true – but Mr Sunak is also incredibly wealthy, and in the context of the UK, class often overcomes and displaces race.
Moreover, historically, the biggest target of racism and bigotry in the Indian British community is aimed at a different demographic – the Muslim community, and especially those who are visibly and publicly Muslim. This is why the former chairperson of the Conservative Party, Sayeeda Warsi, has been raising the alarm around anti-Muslim bigotry in the UK in general, and inside the Conservative Party in particular, for many years now.
Far beyond the party, there have been numerous critiques of how the Conservative Party simply does not take anti-Muslim bigotry seriously enough, which has meant reports of rampant Islamophobia within the party.
Despite three years of promises, the current government failed to even define Islamophobia, an essential task if the government were to recognise the importance of tackling anti-Muslim bigotry and hate crimes against Muslims.
In May of next year, the coronation of the UK's new monarch, King Charles III, is expected to take place. It will be a striking affair – the coronation of the head of the Christian Anglican Communion, against the backdrop of a Hindu Prime Minister, in a city with a (Labour) Muslim Mayor. The coronation will have multi-faith representation, as is befitting of this king in particular, who has expressed a great deal of respect for the multitude of Britain’s faiths. The UK has much to be grateful for in terms of how far it has come in this regard, but we also should not fool ourselves into thinking we’ve come further than we have.
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.”
Skoda Superb Specs
Engine: 2-litre TSI petrol
Power: 190hp
Torque: 320Nm
Price: From Dh147,000
Available: Now
Killing of Qassem Suleimani
Call of Duty: Black Ops 6
Developer: Treyarch, Raven Software
Publisher: Activision
Console: PlayStation 4 & 5, Windows, Xbox One & Series X/S
Rating: 3.5/5
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Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
Expert advice
“Join in with a group like Cycle Safe Dubai or TrainYAS, where you’ll meet like-minded people and always have support on hand.”
Stewart Howison, co-founder of Cycle Safe Dubai and owner of Revolution Cycles
“When you sweat a lot, you lose a lot of salt and other electrolytes from your body. If your electrolytes drop enough, you will be at risk of cramping. To prevent salt deficiency, simply add an electrolyte mix to your water.”
Cornelia Gloor, head of RAK Hospital’s Rehabilitation and Physiotherapy Centre
“Don’t make the mistake of thinking you can ride as fast or as far during the summer as you do in cooler weather. The heat will make you expend more energy to maintain a speed that might normally be comfortable, so pace yourself when riding during the hotter parts of the day.”
Chandrashekar Nandi, physiotherapist at Burjeel Hospital in Dubai
Understand What Black Is
The Last Poets
(Studio Rockers)
The Greatest Royal Rumble card
50-man Royal Rumble - names entered so far include Braun Strowman, Daniel Bryan, Kurt Angle, Big Show, Kane, Chris Jericho, The New Day and Elias
Universal Championship Brock Lesnar (champion) v Roman Reigns in a steel cage match
WWE World Heavyweight ChampionshipAJ Styles (champion) v Shinsuke Nakamura
Intercontinental Championship Seth Rollins (champion) v The Miz v Finn Balor v Samoa Joe
United States Championship Jeff Hardy (champion) v Jinder Mahal
SmackDown Tag Team Championship The Bludgeon Brothers (champions) v The Usos
Raw Tag Team Championship (currently vacant) Cesaro and Sheamus v Matt Hardy and Bray Wyatt
Casket match The Undertaker v Rusev
Singles match John Cena v Triple H
Cruiserweight Championship Cedric Alexander v Kalisto
Youth YouTuber Programme
The programme will be presented over two weeks and will cover the following topics:
- Learning, scripting, storytelling and basic shots
- Master on-camera presence and advanced script writing
- Beating the algorithm and reaching your core audience
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Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
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Factfile on Garbine Muguruza:
Name: Garbine Muguruza (ESP)
World ranking: 15 (will rise to 5 on Monday)
Date of birth: October 8, 1993
Place of birth: Caracas, Venezuela
Place of residence: Geneva, Switzerland
Height: 6ft (1.82m)
Career singles titles: 4
Grand Slam titles: 2 (French Open 2016, Wimbledon 2017)
Career prize money: $13,928,719
UAE SQUAD
Goalkeepers: Ali Khaseif, Fahad Al Dhanhani, Mohammed Al Shamsi, Adel Al Hosani
Defenders: Bandar Al Ahbabi, Shaheen Abdulrahman, Walid Abbas, Mahmoud Khamis, Mohammed Barghash, Khalifa Al Hammadi, Hassan Al Mahrami, Yousef Jaber, Salem Rashid, Mohammed Al Attas, Alhassan Saleh
Midfielders: Ali Salmeen, Abdullah Ramadan, Abdullah Al Naqbi, Majed Hassan, Yahya Nader, Ahmed Barman, Abdullah Hamad, Khalfan Mubarak, Khalil Al Hammadi, Tahnoun Al Zaabi, Harib Abdallah, Mohammed Jumah, Yahya Al Ghassani
Forwards: Fabio De Lima, Caio Canedo, Ali Saleh, Ali Mabkhout, Sebastian Tagliabue, Zayed Al Ameri
How to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less