A Canada Day drive-by parade makes its way through town on July 1, 2020 in Newcastle. After living in several countries, Kareem Shaheen has settled down with his family in Canada. AFP
A Canada Day drive-by parade makes its way through town on July 1, 2020 in Newcastle. After living in several countries, Kareem Shaheen has settled down with his family in Canada. AFP
A Canada Day drive-by parade makes its way through town on July 1, 2020 in Newcastle. After living in several countries, Kareem Shaheen has settled down with his family in Canada. AFP
Last month, while I was glued along with everyone else to Twitter following the US presidential election returns, I got an email that I knew would change my life. Its anodyne title began: "Confirmation of Permanent Residence." I was now officially on the path to becoming a Canadian.
I moved to Montreal a little over two years ago with my wife, who was already a permanent resident. Our son, who was born here, is already a Canadian citizen. I applied for residency in January 2019. A process that usually takes around a year lasted 22 months because of the pandemic. Exhausted and burned out by months of social distancing and overwork, it was not quite jubilation that I felt. It was like letting out a breath that I had held for almost two years.
I was incredibly lucky that I even had the opportunity when others had to brave the high seas and risk the lives of their children only to drown or find cold hearts on the European continent. But years of reporting in the Middle East had left me with one, tragic truism – that in much of the region, the value of an individual human life is worth nothing to the forces that shape its geopolitical destiny. I had hoped to stay anyway because I wanted to tell all the stories I'd heard. But it seemed irresponsible, if I were to have a child, not to give him or her every opportunity at a better life.
I began working on all the paperwork. There were forms to be filled, letters to be printed and mailed out, photographs to be taken, health insurance to apply for, French classes to sign up to, Canadian history books to read. The overpowering drive I felt was a sudden and instinctive sense of belonging that appeared to well out of nowhere.
I never really lived in my home country of Egypt for any significant length of time. As a child I was raised in Dubai to parents who were doctors, and who took us back home for months every summer holiday. I lived in the Netherlands, Lebanon and Turkey, reported from Syria, Jordan, the Gulf and Morocco.
There was a strange transience to that existence. There was nothing that was quite “mine” in all those places. It felt like constantly standing a little apart in the family photograph, like a guest who was always respected and made to feel welcome, but not quite too welcome that he might overstay his visit.
It felt equally strange to be suddenly told that I was welcome here. That I could stay for as long as I want. That I could be a part of it rather than apart in every sense of the word. That I could count on this and would never have to leave if I didn’t want to.
Even from afar, I often longed for Egypt. It was a sensation that had little to do with what was happening in the country at any point in time. It had to do with the knowledge that, if the world entire closed its doors, I could go back home, to my mother’s apartment in Alexandria overlooking the Mediterranean, or to our family home in our Nile Delta village, and be embraced and loved.
Now there is another place like that. It is not exactly home yet, but it’s pretty darn close, and it will be soon. Its door is not ajar but wide open, and for that I will be forever grateful.
Kareem Shaheen is a veteran Middle East correspondent in Canada and a columnist for The National
Indoor cricket in a nutshell
Indoor Cricket World Cup - Sep 16-20, Insportz, Dubai
16 Indoor cricket matches are 16 overs per side
8 There are eight players per team
9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.
5 Five runs are deducted from the score when a wickets falls
4 Batsmen bat in pairs, facing four overs per partnership
Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.
Zones
A Front net, behind the striker and wicketkeeper: 0 runs
B Side nets, between the striker and halfway down the pitch: 1 run
C Side nets between halfway and the bowlers end: 2 runs
D Back net: 4 runs on the bounce, 6 runs on the full
The story of Edge
Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, established Edge in 2019.
It brought together 25 state-owned and independent companies specialising in weapons systems, cyber protection and electronic warfare.
Edge has an annual revenue of $5 billion and employs more than 12,000 people.
Some of the companies include Nimr, a maker of armoured vehicles, Caracal, which manufactures guns and ammunitions company, Lahab
MATCH INFO
Europa League final
Marseille 0
Atletico Madrid 3
Greizmann (21', 49'), Gabi (89')
Summer special
If you go
The flights
Emirates flies from Dubai to Funchal via Lisbon, with a connecting flight with Air Portugal. Economy class returns cost from Dh3,845 return including taxes.
The trip
The WalkMe app can be downloaded from the usual sources. If you don’t fancy doing the trip yourself, then Explore offers an eight-day levada trails tour from Dh3,050, not including flights.
The hotel
There isn’t another hotel anywhere in Madeira that matches the history and luxury of the Belmond Reid's Palace in Funchal. Doubles from Dh1,400 per night including taxes.
Welterweight: Daniel Skibinski (POL) beat Acoidan Duque (ESP). Round 3 TKO
Lightweight: Martun Mezhlumyan (ARM) beat Attila Korkmaz (TUR). Unanimous decision
Bantamweight: Ray Borg (USA) beat Jesse Arnett (CAN). Unanimous decision
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.”
PROFILE OF INVYGO
Started: 2018
Founders: Eslam Hussein and Pulkit Ganjoo
Based: Dubai
Sector: Transport
Size: 9 employees
Investment: $1,275,000
Investors: Class 5 Global, Equitrust, Gulf Islamic Investments, Kairos K50 and William Zeqiri