As we step into the new year, I’ve noticed a stunning number of unexpected shifts, bits of news and looming developments, pointing towards a wildly unpredictable 2025.
Let’s start with the latest topsy-turvy in science and society. Climate scientists say the Arctic, the world’s famously frozen wasteland, is set to become ice-free in the near future. If the Arctic is no longer Arctic, won’t English-speakers everywhere need to find a new word to describe freezing cold weather?
After the world witnessed a backlash against over-tourism in 2024, travellers are expected to avoid many top vacation hotspots such as Venice, Santorini, Bali and beyond, instead visiting relatively unknown places like conflict-hit Kashmir. Could the next travel trend be destinations endeavouring to appear less appealing?
According to a report in The New York Times, the US government body charged with protecting its environment has for decades been knowingly promoting a fertiliser that leaves dangerous “forever chemicals” in the soil and water table. And food production researchers recently found that the back-to-nature style, organic and regenerative farming favoured by progressives is probably worse for humanity and the Earth than the industrial agriculture that’s been widely reviled for decades.
“Their artisanal grains and grass-fed beef are worse for nature than chemical-drenched corn and feedlot-fattened beef,” the author of a forthcoming book, We Are Eating the Earth, argued recently in The New York Times, “because they require much more land for each calorie they produce.”
Next up, politics, starting with the world’s most powerful office. Overcoming a younger, upstart candidate, accusations of seeking to foment a coup four years ago, and being the first former president with a felony conviction, Donald Trump cruised to an easy victory in November, stunning many prognosticators and leaving countless liberal-minded Americans seriously considering a move abroad. Will the next president shake the foundations of US democracy, or merely annoy a lot of American elites?
Israel has come full circle in terms of international opinion in the past 15 months
Now to the Middle East. I can’t recall any conflict that seemed as over as Syria’s civil war did six weeks ago, with President Bashar Al Assad, having put down an armed rebellion some time back, beginning to re-enter the regional diplomatic fold.
But, out of the blue, Hayat Tahrir Al Sham surged from Aleppo to Damascus to take power in a flash. Suddenly the Assad regime was no more, and Syria – for decades one of the region’s dark spots – is a place of hope, despite a terrorist-labelled leadership. One starts to wonder, is the best way to win a war to not fight it? For a while, at least, maybe.
Within hours of Mr Al Assad’s exit, Syrian exiles everywhere started talking about returning home, and many western governments, facing voter dissatisfaction over recently arrived immigrants, quickly halted asylum processing. Already, Turkey and Jordan have opened the border to returning Syrians and Austria is developing a massive repatriation plan. Anti-immigrant governments like that of Mr Trump might not be far behind. Are we about to witness the largest reverse migration in human history?
Speaking of Muslims in the West, December’s Christmas market attacker in Germany was a Saudi who was right-wing and anti-Islam, upending terrorist stereotypes. The attack “creates uncertainty at a time when certainties are already crumbling,” said a Der Spiegel columnist.
Next up, Israel, which has come full circle in terms of international opinion in the past 15 months. Start with October 7, when Hamas’s brutal assault led much of the world to sympathise with the Israeli people. Yet, much as the US did after the 9/11 attacks, Israel’s government stomped all over that global goodwill with the way its military bludgeoned, blasted and bulldozed Gaza in the months that followed. Now Syria’s successful revolution seems to be bringing things full circle.
With Mr Al Assad gone, Iran weakened, and Hamas and Hezbollah on their last legs, some are praising Israel’s military performance, and Reuters has described it as a “a succession of monumental wins for [Prime Minister Benjamin] Netanyahu”. On the verge of becoming an international pariah after accusations of genocide and war crimes, Israel could now emerge as the pioneer of a new style of innovative, 21st-century warfare.
Last, but certainly not least, we have Turkey. You may remember Turkish President Recep Tayyip Erdogan’s criticism of foreign involvement in other countries’ political processes. In 2015, he denounced a top US news outlet for meddling in Turkey’s affairs after it ran a critical article. “Know your place,” Mr Erdogan urged.
Three years later, the Turkish leader accused the US and Israel of interfering in the affairs of Pakistan and Iran. The year after that, when western countries criticised Turkey’s revocation of an election result, Mr Erdogan accused the US and Europe of meddling in Turkish politics. The list goes on, underscoring the Turkish leader’s strong stance on foreign political involvement.
Yet Mr Erdogan recently made clear that Turkey will not only be involved in the formation of Syria’s new government, it will play a crucial role – helping define its state structure and draft a new constitution. There are no two ways about it: Turkey is embarking on a nation-building mission in Syria, where it’s seen as the ultimate power with influence over its new leaders.
Turkey’s long-time leader has always wanted his country to be respected as a global power, and now he has before him what is often viewed as the ultimate challenge for the world’s most powerful states: nation building. No wonder we’ve seen recent reports that Mr Erdogan could seek yet another term; he surely hopes to see this through.
Here’s to hoping that 2025, and Syria, turn out better than many fear. Have yourself a Happy New Year.
ADCC AFC Women’s Champions League Group A fixtures
October 3: v Wuhan Jiangda Women’s FC
October 6: v Hyundai Steel Red Angels Women’s FC
October 9: v Sabah FA
If you go...
Etihad Airways flies from Abu Dhabi to Kuala Lumpur, from about Dh3,600. Air Asia currently flies from Kuala Lumpur to Terengganu, with Berjaya Hotels & Resorts planning to launch direct chartered flights to Redang Island in the near future. Rooms at The Taaras Beach and Spa Resort start from 680RM (Dh597).
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
Singham Again
Director: Rohit Shetty
Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone
Rating: 3/5
Dhadak
Director: Shashank Khaitan
Starring: Janhvi Kapoor, Ishaan Khattar, Ashutosh Rana
Stars: 3
Electoral College Victory
Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
Sour%20Grapes
%3Cp%3E%3Cstrong%3EAuthor%3A%20%3C%2Fstrong%3EZakaria%20Tamer%3Cbr%3E%3Cstrong%3EPublisher%3A%20%3C%2Fstrong%3ESyracuse%20University%20Press%3Cbr%3E%3Cstrong%3EPages%3A%20%3C%2Fstrong%3E176%3C%2Fp%3E%0A
UAE currency: the story behind the money in your pockets
PROFILE OF HALAN
Started: November 2017
Founders: Mounir Nakhla, Ahmed Mohsen and Mohamed Aboulnaga
Based: Cairo, Egypt
Sector: transport and logistics
Size: 150 employees
Investment: approximately $8 million
Investors include: Singapore’s Battery Road Digital Holdings, Egypt’s Algebra Ventures, Uber co-founder and former CTO Oscar Salazar
Company Fact Box
Company name/date started: Abwaab Technologies / September 2019
Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO
Based: Amman, Jordan
Sector: Education Technology
Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed
Stage: early-stage startup
Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.
ASHES SCHEDULE
First Test
November 23-27 (The Gabba, Brisbane)
Second Test
December 2-6 (Adelaide Oval, Adelaide)
Third Test
December 14-18 (Waca Ground, Perth)
Fourth Test
December 26-30 (Melbourne Cricket Ground, Melbourne)
Fifth Test
January 4-8, 2018 (Sydney Cricket Ground, Sydney)
The%20National%20selections
%3Cp%3E6pm%3A%20Barakka%3Cbr%3E6.35pm%3A%20Dhahabi%3Cbr%3E7.10pm%3A%20Mouheeb%3Cbr%3E7.45pm%3A%20With%20The%20Moonlight%3Cbr%3E8.20pm%3A%20Remorse%3Cbr%3E8.55pm%3A%20Ottoman%20Fleet%3Cbr%3E9.30pm%3A%20Tranquil%20Night%3C%2Fp%3E%0A
Paris Can Wait
Dir: Eleanor Coppola
Starring: Alec Baldwin, Diane Lane, Arnaud Viard
Two stars
Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
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.”
Company%20profile
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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
Sunday:
GP3 race: 12:10pm
Formula 2 race: 1:35pm
Formula 1 race: 5:10pm
Performance: Guns N' Roses
Match info
Uefa Nations League Group B:
England v Spain, Saturday, 11.45pm (UAE)
Superpower%20
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3ESean%20Penn%2C%20Aaron%20Kaufman%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E3%2F5%3C%2Fp%3E%0A
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
JOKE'S%20ON%20YOU
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KEY%20DATES%20IN%20AMAZON'S%20HISTORY
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The chef's advice
Troy Payne, head chef at Abu Dhabi’s newest healthy eatery Sanderson’s in Al Seef Resort & Spa, says singles need to change their mindset about how they approach the supermarket.
“They feel like they can’t buy one cucumber,” he says. “But I can walk into a shop – I feed two people at home – and I’ll walk into a shop and I buy one cucumber, I’ll buy one onion.”
Mr Payne asks for the sticker to be placed directly on each item, rather than face the temptation of filling one of the two-kilogram capacity plastic bags on offer.
The chef also advises singletons not get too hung up on “organic”, particularly high-priced varieties that have been flown in from far-flung locales. Local produce is often grown sustainably, and far cheaper, he says.
Company%20profile
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