People burn tyres on a Prague street during confrontations between demonstrators and Warsaw Pact forces, who invaded Czechoslovakia to crush the so-called Prague Spring in August 1968. AFP
People burn tyres on a Prague street during confrontations between demonstrators and Warsaw Pact forces, who invaded Czechoslovakia to crush the so-called Prague Spring in August 1968. AFP
People burn tyres on a Prague street during confrontations between demonstrators and Warsaw Pact forces, who invaded Czechoslovakia to crush the so-called Prague Spring in August 1968. AFP
People burn tyres on a Prague street during confrontations between demonstrators and Warsaw Pact forces, who invaded Czechoslovakia to crush the so-called Prague Spring in August 1968. AFP

History is not just a dusty irrelevance. Within it lie the seeds of today's world, together with its successes and failures


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On the night of August 20, 1968, a quarter of a million troops from the Soviet Union and most – though not all – of its Warsaw Pact allies, invaded the then-united Czechoslovakia to crush the short-lived "Prague Spring". It was a defining moment in modern European history yet one which I suspect is now little remembered and little understood, except in Central and Eastern Europe.

In the half-century that has followed, the Soviet Union itself has disappeared, as has the Warsaw Pact, while the continent has witnessed other, much more bloody conflicts that occurred as a result of the disintegration of Yugoslavia into six separate states.

Other more recent strains on Europe have included the impact of the inflow of refugees from the conflicts that have resulted from the so-called Arab Spring – more widespread than that of Prague – as well as the wave of economic migration from Africa. These have contributed in no small measure to the worrying xenophobic and anti-Islamic populism that has emerged over the last few years, from Hungary and Austria westwards to Britain. Europe today is very different from the continent of 50 years ago.

I remember well, though, those events of August 1968. A few days before the invasion, I was in Prague, meeting some of the young Czechs and Slovaks who were celebrating the joys of the freedom to which they had been introduced after a couple of decades of Soviet domination and Communist rule. As a visiting British Young Liberal, I was privileged to be invited to speak at Prague’s newly-established equivalent to Speakers’ Corner in London’s Hyde Park, to offer our greetings at a time of heady excitement.

Returning to London, I was stunned a few days later by the news of the invasion and promptly went back with friends to Austria in an abortive effort to re-enter Czechoslovakia. That quixotic attempt came to an end at the Gmund railway station on the Austrian-Czech border, as downcast and nervous border guards pointed along the platform to the Soviet troops on the Czech side and told us that we could go no further.

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Read more from Peter Hellyer:

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As I have written previously, the August 1968 invasion was one of a series of events that raised hopes and dashed dreams, not just in Europe but elsewhere in that remarkable year. The May "evenements" in Paris, the murders of Martin Luther King and Bobby Kennedy, the Tet offensive in Vietnam – memories of these, as well as of the Czech invasion, are fading.

That’s not just because of the passing of time but also, perhaps, because in today’s world the focus of attention is increasingly on the "now", the immediate.

The pace and volume of the 24-hour news cycle in this increasingly interconnected world presents everyone with an avalanche of information, which can often shake our ability to stand back, to reflect and to separate the relevant from the trivial. In that process, it’s easy to lose sight of the significance of historical events, not just during the period when they occurred but of their continuing importance today.

On the eastern edge of the European Union, for example, those events of August 1968, with the lessons they offer about the nature of relationships with, and the geopolitical ambitions of, the colossus of Russia to the East, remain a factor in current political life.

Going back a little further, the history of the Baltic states over the last century, from achieving independence from a collapsing Russian empire in 1918 to being swallowed by the Soviet Union in 1940 and then regaining independence in 1991, is of fundamental importance to the way in which these states assess current challenges to their continued viability.

History is not just a dusty irrelevance. Nor should it be perceived as boring. There lie within it the seeds of today's world, the successes and the failures. Here in the UAE, for example, a key event in the country's history also occurred 50 years ago, the February 1968 meeting between Sheikh Zayed and Sheikh Rashid, then respective rulers of Abu Dhabi and Dubai, at which they both agreed to come together in unity and to invite other emirates to join them. Little noticed then outside the country, it is now acknowledged as an historic moment, relevant far beyond our borders.

Fortunately, here in the UAE, following the guidance provided by the Founding Father Sheikh Zayed, the significance of the past to the country’s present and future is well-recognised. In this Year of Zayed, in particular, there is no escaping the efforts being made to underline the value of history and to acknowledge the contribution of those who played their part.

I wonder, though, to what extent the relevance of history is more widely understood, outside the UAE at least, beyond the rarified realms of politicians and historians. To me the invasion of Czechoslovakia, like other events that year, remains important, not just because of the personal impact it had upon me but because it helps me to try to understand some of what I see today.

Peter Hellyer is a consultant specialising in the UAE's history and culture

Company%20profile
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The Light of the Moon

Director: Jessica M Thompson

Starring: Stephanie Beatriz, Michael Stahl-David

Three stars

Farage on Muslim Brotherhood

Nigel Farage told Reform's annual conference that the party will proscribe the Muslim Brotherhood if he becomes Prime Minister.
"We will stop dangerous organisations with links to terrorism operating in our country," he said. "Quite why we've been so gutless about this – both Labour and Conservative – I don't know.
“All across the Middle East, countries have banned and proscribed the Muslim Brotherhood as a dangerous organisation. We will do the very same.”
It is 10 years since a ground-breaking report into the Muslim Brotherhood by Sir John Jenkins.
Among the former diplomat's findings was an assessment that “the use of extreme violence in the pursuit of the perfect Islamic society” has “never been institutionally disowned” by the movement.
The prime minister at the time, David Cameron, who commissioned the report, said membership or association with the Muslim Brotherhood was a "possible indicator of extremism" but it would not be banned.

Gorillaz 
The Now Now 

WHAT IS A BLACK HOLE?

1. Black holes are objects whose gravity is so strong not even light can escape their pull

2. They can be created when massive stars collapse under their own weight

3. Large black holes can also be formed when smaller ones collide and merge

4. The biggest black holes lurk at the centre of many galaxies, including our own

5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed

How much do leading UAE’s UK curriculum schools charge for Year 6?
  1. Nord Anglia International School (Dubai) – Dh85,032
  2. Kings School Al Barsha (Dubai) – Dh71,905
  3. Brighton College Abu Dhabi - Dh68,560
  4. Jumeirah English Speaking School (Dubai) – Dh59,728
  5. Gems Wellington International School – Dubai Branch – Dh58,488
  6. The British School Al Khubairat (Abu Dhabi) - Dh54,170
  7. Dubai English Speaking School – Dh51,269

*Annual tuition fees covering the 2024/2025 academic year

Bert van Marwijk factfile

Born: May 19 1952
Place of birth: Deventer, Netherlands
Playing position: Midfielder

Teams managed:
1998-2000 Fortuna Sittard
2000-2004 Feyenoord
2004-2006 Borussia Dortmund
2007-2008 Feyenoord
2008-2012 Netherlands
2013-2014 Hamburg
2015-2017 Saudi Arabia
2018 Australia

Major honours (manager):
2001/02 Uefa Cup, Feyenoord
2007/08 KNVB Cup, Feyenoord
World Cup runner-up, Netherlands

When Umm Kulthum performed in Abu Dhabi

  

 

 

 

Known as The Lady of Arabic Song, Umm Kulthum performed in Abu Dhabi on November 28, 1971, as part of celebrations for the fifth anniversary of the accession of Sheikh Zayed bin Sultan Al Nahyan as Ruler of Abu Dhabi. A concert hall was constructed for the event on land that is now Al Nahyan Stadium, behind Al Wahda Mall. The audience were treated to many of Kulthum's most well-known songs as part of the sold-out show, including Aghadan Alqak and Enta Omri.

 
The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

Company%20profile
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EMaly%20Tech%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202023%3Cbr%3E%3Cstrong%3EFounder%3A%3C%2Fstrong%3E%20Mo%20Ibrahim%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%20International%20Financial%20Centre%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20FinTech%3Cbr%3E%3Cstrong%3EFunds%20raised%3A%3C%2Fstrong%3E%20%241.6%20million%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2015%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3EPre-seed%2C%20planning%20first%20seed%20round%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20GCC-based%20angel%20investors%3C%2Fp%3E%0A

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.”

Tales of Yusuf Tadros

Adel Esmat (translated by Mandy McClure)

Hoopoe