John Hume, the former Social Democratic and Labour Party leader and Nobel Peace Prize winner, died aged 83. Here he is pictured in 1969. Getty Images
In this file photo taken on May 19, 1998 showing Ulster Unionist leader David Trimble, left, and John Hume shaking hands on stage during a concert given by U2 in Belfast to campaign for a Yes vote for the Good Friday Agreement peace referendum in Northern Ireland. AFP
John Hume in buoyant mood on May 21, 1998, as he arrives for a breakfast meeting with then British prime minister Tony Blair and Ulster Unionist leader David Trimble at Dunadry Hotel to encourage a Yes vote for a Northern Ireland peace referendum. EPA
Tony Blair, centre, talks to the media after a meeting with David Trimble, left, and John Hume. AFP
In this March 17, 2000 photo, then US president Bill Clinton meets with Northern Ireland leaders Gerry Adams, John Hume and David Trimble at the White House in Washington. AFP
In this December 10, 1998 file photo, John Hume, right, looks at the Nobel Peace Prize diploma that he received from Francis Sejersted, left, chairman of the Norwegian Nobel Peace Prize Committee, during the award ceremony in Oslo Town Hall. AP Photo
John Hume arrives at No 10 Downing Street before talks with Tony Blair on the Northern Ireland Good Friday peace talks crisis. EPA
In this March 5, 2014 photo, Bill Clinton, right, walks with John Hume and his wife Pat across the Peace Bridge in Derry, Northern Ireland. AP Photo
Bill Clinton poses with John Hume at the Guildhall in Derry on the same day. AP Photo
John Hume arrives for the funeral of the former Bishop of Derry, Dr Edward Daly, at St Eugene's Cathedral in the city four years ago. Getty Images
How much are "two balls of roasted snow" worth? Not much. But this is what Nobel laureate John Hume famously gave for those who suggested that he was on the wrong path to building peace in Northern Ireland.
His remark pointed to a single-mindedness that alienated party colleagues, earned him media criticism and led to him being accused of delivering his so-called single transferable speech – the same points over and over again.
But Hume, who died on Monday aged 83, had the last laugh because the post-nationalist vision he so relentlessly championed ended up at the heart of the Good Friday Agreement, the 1998 deal that took Northern Ireland, as one observer put it, "from something like war, to something like peace".
In an age of reality-TV presidents, Hume’s death sees him re-emerge as a figure of the utmost seriousness. Not in his personal dealings – the Derryman could be affable, and his singing was up there with the best of Ireland’s famously musical politicians – but his fixation on ending decades of discrimination as well as paramilitary and state violence energised and consumed him.
Pigeons fly past a mural depicting John Hume and other Nobel laureates, Martin Luther King Jr, Mother Teresa and Nelson Mandela in Derry, Northern Ireland. AFP
The funeral procession of John Hume arrives at St Eugene's Cathedral in Derry on Tuesday. Reuters
Mourners waiting for the funeral procession of John Hume gather outside St Eugene's Cathedral. Reuters
A mourner waiting for the funeral procession of John Hume holds a candle outside St Eugene's Cathedral. Reuters
The remains of John Hume are taken into St Eugene's Cathedral. AFP
Members of the family carry the coffin of John Hume into St Eugene's Cathedral. AP Photo
Pat Hume, left, is pictured alongside family members as her late husband John Hume lies at rest in St Eugene's Cathedral. Getty Images
Pat Hume, right, lights a candle at St Eugene's Cathedral. Getty Images
John Hume lies at rest in St Eugene's Cathedral. Getty Images
Colum Eastwood, the current leader of the Social Democratic and Labour Party, speaks to the media while waiting for the funeral of John Hume outside St Eugene's Cathedral. Reuters
A floral tribute in memory of John Hume is pictured at the Free Derry Corner in Derry. Reuters
A floral tribute is pictured at the Free Derry wall in the Bogside area for John Hume in Derry. AFP
A photograph and message is pictured at the Free Derry wall in the Bogside area for John Hume in Derry. AFP
Cricketers and umpires observe a minute's silence for John Hume - a cricket fan - as play resumes behind closed doors following the outbreak of Covid-19 in Southampton on Tuesday. Reuters
This is not the stuff of the career politician. Hume, who had already displayed his innate seriousness by initially choosing to study for the priesthood, turned to the distinctly unglamorous grind of local politics in Derry. Housing rights, schools, visiting those picked up by the police or British army: Hume and those around him knew first-hand what the absence of peace looked and felt like.
Hume often said it was his role in the credit union movement – in which my maternal grandfather John McCluskey rubbed shoulders with the young future Nobel laureate – that gave him most pride.
Still, then, a world away from international peace conferences and Nobel Prizes, Hume had decided early on how a settlement in Northern Ireland would look, and would to talk to anyone to make it a reality. For him, making peace in this way would mean considerable personal and political sacrifice.
Disgruntled colleagues in his Social Democratic and Labour Party accused him of ignoring their advice, particularly over the divisive issue of talking to the republican movement. One suspects Hume knew that bringing Gerry Adams and Sinn Fein into the political process would spell disaster for the SDLP – this sort of political sacrifice to achieve a goal has few parallels.
On a personal level, too, he suffered. Photographs of Hume, weeping at the gravesides of eight people gunned down by loyalist paramilitaries in 1993, made it clear he knew full well the price of failure and the need to persevere, even when the odds seemed stacked against him. That he fell into dementia in his later years, his achievements shrouded in a fog of forgetting, seemed an extravagant cruelty.
Being a “peacemaker” can sometimes be unfairly conflated with a hippy-ish, milquetoast tendency. But Hume’s triumph reveals the patience, pragmatism and persistence needed to be left at the end of the day holding more than a handful of roasted snow.
Declan McVeigh is a sub-editor for The National
Previous men's records
2:01:39: Eliud Kipchoge (KEN) on 16/9/19 in Berlin
2:02:57: Dennis Kimetto (KEN) on 28/09/2014 in Berlin
2:03:23: Wilson Kipsang (KEN) on 29/09/2013 in Berlin
2:03:38: Patrick Makau (KEN) on 25/09/2011 in Berlin
2:03:59: Haile Gebreselassie (ETH) on 28/09/2008 in Berlin
2:04:26: Haile Gebreselassie (ETH) on 30/09/2007 in Berlin
2:04:55: Paul Tergat (KEN) on 28/09/2003 in Berlin
2:05:38: Khalid Khannouchi (USA) 14/04/2002 in London
2:05:42: Khalid Khannouchi (USA) 24/10/1999 in Chicago
2:06:05: Ronaldo da Costa (BRA) 20/09/1998 in Berlin
Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”
Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.”
MIDWAY
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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.”
What vitamins do we know are beneficial for living in the UAE
Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood. Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues. Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity. Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.
Investors can tap into the gold price by purchasing physical jewellery, coins and even gold bars, but these need to be stored safely and possibly insured.
A cheaper and more straightforward way to benefit from gold price growth is to buy an exchange-traded fund (ETF).
Most advisers suggest sticking to “physical” ETFs. These hold actual gold bullion, bars and coins in a vault on investors’ behalf. Others do not hold gold but use derivatives to track the price instead, adding an extra layer of risk. The two biggest physical gold ETFs are SPDR Gold Trust and iShares Gold Trust.
Another way to invest in gold’s success is to buy gold mining stocks, but Mr Gravier says this brings added risks and can be more volatile. “They have a serious downside potential should the price consolidate.”
Mr Kyprianou says gold and gold miners are two different asset classes. “One is a commodity and the other is a company stock, which means they behave differently.”
Mining companies are a business, susceptible to other market forces, such as worker availability, health and safety, strikes, debt levels, and so on. “These have nothing to do with gold at all. It means that some companies will survive, others won’t.”
By contrast, when gold is mined, it just sits in a vault. “It doesn’t even rust, which means it retains its value,” Mr Kyprianou says.
You may already have exposure to gold miners in your portfolio, say, through an international ETF or actively managed mutual fund.
You could spread this risk with an actively managed fund that invests in a spread of gold miners, with the best known being BlackRock Gold & General. It is up an incredible 55 per cent over the past year, and 240 per cent over five years. As always, past performance is no guide to the future.
