If Europeans truly had the best interests of themselves and the rest of the world at heart, they would be sincerely thanking Hungarian Prime Minister Viktor Orban for his actions since his country took over the six-monthly rotating presidency of the EU last month.
These are words I never imagined writing. While always defending the right of the Hungarian people to vote for whoever they wanted, I regarded Mr Orban as part of a wave of right-wingers of a type that most European countries had tried to keep beyond a cordon sanitaire, and mostly succeeded until the early 2000s.
Two years ago, I condemned Mr Orban’s evident distaste for mixed-race unions in these pages and asked – given the adoring reception he receives in US Republican circles – if it was now “acceptable in mainstream conservative circles to argue for racial purity?”.
Well, plenty of EU politicians are criticising Mr Orban right now. The European Parliament passed a resolution that said his recent trips abroad constituted a “violation” that “should be met with repercussions for Hungary”; the European Commission barred commissioners from attending meetings in Hungary; and Polish Foreign Minister Radek Sikorski called Mr Orban “someone” who “exudes selfishness” and “irritates everyone else”.
What had Mr Orban done that caused such offence? He had the effrontery to launch a peace mission to end the war in Ukraine, and in the service of that he went to China to see President Xi Jinping, Kyiv to see President Volodymyr Zelenskyy, met President Vladimir Putin in Moscow, and flew to Florida to have a talk with former US president Donald Trump, who Mr Orban says has “detailed and well-founded plans” to act as a peace-broker if he is re-elected to the White House this November.
The Hungarian Prime Minister, at least, sees it as a success.
“Despite all the criticism, let us remind ourselves that since the beginning of our peace mission, the US and Russian [defence] ministers have spoken to each other, the Swiss and Russian foreign ministers have held talks, President Zelenskyy has finally called President Trump, and the Ukrainian Foreign Minister has been to Beijing,” Mr Orban said in a lecture last weekend. “So fermentation has begun, and we are slowly but surely moving from a pro-war European policy to a pro-peace policy.”
I wish he was right, but I’m not sure I share Mr Orban’s confidence in such a transition. A top Nato official warned of all-out war with Russia in the next 20 years in January. Only two weeks ago, the head of the UK Labour government’s strategic defence review, George Robertson, said that China posed a “deadly” challenge. And last week, the head of the UK army said Britain must be prepared to fight a war within three years.
And it’s precisely because so many voices in the West have been predicting cataclysmic clashes, to the extent that there is a real worry they could become self-fulfilling prophecies, that I come to praise Mr Orban, not bury him. For it is becoming increasingly clear that the most urgent question in geopolitics today is a simple one. Are you in the party of peace, or are you for the party of war?
Everything else is secondary. As tensions rise, and with leaders anticipating flashpoints from Eastern Europe to the South China Sea setting off a Third World War, those of us who wish for peace must take our allies where we find them. In fact, there are plenty, given that they include most of the Global South, a China that is stepping up its role as a mediator, both potentially in Ukraine but also in the Middle East, the likes of Mr Orban and, I would say, Mr Trump.
The reason I can confidently place Mr Trump in that list is that he has made it clear he has no intention of fighting wars for ideological purposes. If he returns to the presidency, as Mr Orban said last weekend, “the export of democracy” will be “at an end”.
It is becoming increasingly clear that the most urgent question in geopolitics today is a simple one. Are you in the party of peace, or are you for the party of war?
This is a very important point. All the countries that are constantly forecasting devastating armed conflict are run by governments of the mainstream left and right that still believe that their values and their model of governance are not only the best, but that it is morally incumbent on them to export them near and far; and they are not afraid to use coercive means, from sanctions, to internal interference, to the threat of armed conflict (over Taiwan, for instance) to do so.
Perhaps they assume that everyone else is like them; and so, they must be desperate to spread their systems far and wide too. Hence the conflict and the need or risk of confrontation.
But where is the evidence that China, for instance, has the slightest desire to try to force other countries to adopt “socialism with Chinese characteristics”? To give another example, Malay nationalists in Malaysia, where I live, are very concerned about the way ethnic Malays dress, worship, seek entertainment and generally live their lives. But it would never enter their heads to try to get anyone else outside of their country to behave the same way.
Neither are Singaporeans, Indonesians, Cambodians or, I believe, Russians, seized by the imperative to remake the world in their own image. They may want influence and increased trade, and they may be assertive in pursuit of what they feel are their justified territorial and security claims, but it is primarily their own countries’ welfare that preoccupy them.
This is a paradigm difference, and it is no surprise that these states are all signed up to the principle of non-interference. It is western countries that still go “abroad, in search of monsters to destroy”. Mr Orban recognises that. He, too, is focused on his country’s future – not on making others like Hungarians – and believes that it has suffered economically from the Ukraine conflict. If that is what has fuelled his mission, that’s good enough.
On the most urgent question of the day, he has chosen to be in the party of peace. So, for once, and despite my severe disagreements with him, I salute Mr Orban. Rather than lambasting him, Europeans should join him. They may discover that most of the rest of the world is, on this, already on his side.
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Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
Company%20Profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Takestep%0D%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20March%202018%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Mohamed%20Khashaba%2C%20Mohamed%20Abdallah%2C%20Mohamed%20Adel%20Wafiq%20and%20Ayman%20Taha%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Cairo%2C%20Egypt%0D%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20health%20technology%0D%3Cbr%3E%3Cstrong%3EEmployees%3A%3C%2Fstrong%3E%20%2011%20full%20time%20and%2022%20part%20time%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20pre-Series%20A%3C%2Fp%3E%0A
Padmaavat
Director: Sanjay Leela Bhansali
Starring: Ranveer Singh, Deepika Padukone, Shahid Kapoor, Jim Sarbh
3.5/5
The%20Roundup%20%3A%20No%20Way%20Out
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Lee%20Sang-yong%3Cbr%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Don%20Lee%2C%20Lee%20Jun-hyuk%2C%20Munetaka%20Aoki%3Cbr%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E3%2F5%3Cbr%3E%3Cbr%3E%3C%2Fp%3E%0A
'The Ice Road'
Director: Jonathan Hensleigh
Stars: Liam Neeson, Amber Midthunder, Laurence Fishburne
2/5
UAE currency: the story behind the money in your pockets
Specs%20
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Company%20Profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Ovasave%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20November%202022%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Majd%20Abu%20Zant%20and%20Torkia%20Mahloul%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Abu%20Dhabi%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20Healthtech%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%3C%2Fstrong%3E%20Three%20employees%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20Pre-seed%3Cbr%3E%3Cstrong%3EInvestment%3A%3C%2Fstrong%3E%20%24400%2C000%3C%2Fp%3E%0A
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
MATCH INFO
Barcelona v Real Madrid, 11pm UAE
Match is on BeIN Sports
How it works
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Our family matters legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Match statistics
Dubai Sports City Eagles 8 Dubai Exiles 85
Eagles
Try: Bailey
Pen: Carey
Exiles
Tries: Botes 3, Sackmann 2, Fourie 2, Penalty, Walsh, Gairn, Crossley, Stubbs
Cons: Gerber 7
Pens: Gerber 3
Man of the match: Tomas Sackmann (Exiles)
The years Ramadan fell in May
RESULTS
Bantamweight:
Zia Mashwani (PAK) bt Chris Corton (PHI)
Super lightweight:
Flavio Serafin (BRA) bt Mohammad Al Khatib (JOR)
Super lightweight:
Dwight Brooks (USA) bt Alex Nacfur (BRA)
Bantamweight:
Tariq Ismail (CAN) bt Jalal Al Daaja (JOR)
Featherweight:
Abdullatip Magomedov (RUS) bt Sulaiman Al Modhyan (KUW)
Middleweight:
Mohammad Fakhreddine (LEB) bt Christofer Silva (BRA)
Middleweight:
Rustam Chsiev (RUS) bt Tarek Suleiman (SYR)
Welterweight:
Khamzat Chimaev (SWE) bt Mzwandile Hlongwa (RSA)
Lightweight:
Alex Martinez (CAN) bt Anas Siraj Mounir (MAR)
Welterweight:
Jarrah Al Selawi (JOR) bt Abdoul Abdouraguimov (FRA)
Quick%20facts
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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.”
Killing of Qassem Suleimani