The president of France, Emmanuel Macron, has managed the near impossible – he is now more unpopular than his hapless predecessor, Francois Hollande, was at an equivalently early stage of his term in office. The decline in Mr Macron’s ratings has been vertiginous. Eighteen months ago, he won the Elysee with 66 per cent of the vote, but according to the latest poll, a mere 29 per cent of his countrymen are now satisfied with his leadership, down from 39 per cent two months ago.
The proximate cause of this slide is a series of damaging resignations from Mr Macron’s cabinet and a scandal over one of his bodyguards attacking a protester. But some of us always thought that this emperor – and Mr Macron has certainly embraced the imperial nature of the Fifth Republic’s presidency, designed to fit General Charles de Gaulle’s lofty sense of destiny – never had any clothes in the first place.
True, he did seem to come from nowhere. He had briefly been Minister of the Economy under the previous socialist government. However, before winning the presidency – and a majority in parliament for his newly created party La Republique En Marche! – Mr Macron had never been elected to anything. He was fortunate that the two mainstream parties, the Socialists and the centre-right Republicans, had virtually imploded in the case of the former, and were tarnished by scandal at the top in the latter.
As I have argued before, for Mr Macron to win only 66 per cent of the vote in the second round of the presidential election, when his sole opponent was the far-right Front National's Marine Le Pen, was not a victory to boast about. Why didn't he crush her, as Jacques Chirac did her father, Jean-Marie Le Pen, in 2002 with a massive 82.2 per cent of the vote?
The answer is that possibly more people than were credited realised that his supposedly bold new vision of a radical centrism, which was supposed to break the mould of French politics, was vacuous nonsense.
As the late Roy Jenkins, one of Britain’s most storied post-war politicians, put it in a speech in 1973: “There has been a lot of talk about the formation of a new Centre Party. Some have even been kind enough to suggest that I might lead it. I find this idea profoundly unattractive ... I do not believe that such a grouping would have any coherent philosophical base.”
The emptiness of Mr Macron’s centrism was not the worst of it. That it turned out to be yet another example of a right-wing, free-market, globalist agenda being given a vaguely left-wing lick of paint, then repackaged as something new and exciting, however, was. His “reform” agenda – which favours the rich and risks the security of workers and pensioners – is certainly in the tradition of the “third way” once associated with leaders such as Tony Blair and Bill Clinton.
Mr Macron is at least a generation out of date. People have seen the results of this “triangulation”, or abandonment of core beliefs, and have had plenty of time to rue the results: the tragedy of a UK Labour government, under Mr Blair, ending free university tuition, one of the many ways it undermined the pillars of the welfare state; the terrible irony of a Democratic president – Mr Clinton – signing a crime bill that led to the mass incarceration of African Americans; and the utterly misguided equation of the “free market” with the “perfect market”, which led to the 2008 financial crisis and the devastation from which so many countries have still not recovered.
These failures have fed the growth of parties and tendencies that convey real conviction and proclaim an unshakeable desire to act on behalf of the people. We see this in the rise of such genuinely socialist parties as Syriza in Greece and Podemos in Spain, in the election of Jeremy Corbyn as leader of the UK’s Labour Party, and in the passionate support of Senator Bernie Sanders and, more recently, Alexandria Ocasio-Cortez in the US.
On the right, nationalism has reasserted itself. That this has led to intolerant and xenophobic governments, and not just in eastern Europe, is to be regretted. But those on the left must recognise that they have forgotten for too long that millions are moved by a decent and fair-minded love of country, and want to see all their fellow citizens taken care of by a state that is unashamed to fight for them. Not all want to be "citizens of the world" – or "citizens of nowhere" as UK Prime Minister Theresa May put it. A more traditional – and yes, more nationalistic – conservatism can also speak to the masses more persuasively than a neoliberalism that believes their needs will be taken care of merely by lower taxes and fewer regulations.
Mr Macron is certainly a talented and remarkable man. He could not have got so far, so fast without being so. France's hidebound economy also undoubtedly requires reform. But with his background as an investment banker and his tone-deaf attitude towards those left behind – he recently told an unemployed gardener he could find a job just by crossing the street – he appears disconnected from the aspirations of and the dire challenges facing ordinary people.
Clinging, as he does, to an outmoded ideology that has failed, and failed badly, he is a man out of his time. His ratings will not improve unless he abandons his position for a politics that puts people first – and puts markets in their proper and very distant second place.
Sholto Byrnes is a senior fellow at the Institute of Strategic and International Studies Malaysia
Glossary of a stock market revolution
Reddit
A discussion website
Redditor
The users of Reddit
Robinhood
A smartphone app for buying and selling shares
Short seller
Selling a stock today in the belief its price will fall in the future
Short squeeze
Traders forced to buy a stock they are shorting
Naked short
An illegal practice
Profile of Tarabut Gateway
Founder: Abdulla Almoayed
Based: UAE
Founded: 2017
Number of employees: 35
Sector: FinTech
Raised: $13 million
Backers: Berlin-based venture capital company Target Global, Kingsway, CE Ventures, Entrée Capital, Zamil Investment Group, Global Ventures, Almoayed Technologies and Mad’a Investment.
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10 tips for entry-level job seekers
- Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
- Keep track of the job trends in your sector through the news. Apply for job alerts at your dream organisations and the types of jobs you want – LinkedIn uses AI to share similar relevant jobs based on your selections.
- Double check that you’ve highlighted relevant skills on your resume and LinkedIn profile.
- For most entry-level jobs, your resume will first be filtered by an applicant tracking system for keywords. Look closely at the description of the job you are applying for and mirror the language as much as possible (while being honest and accurate about your skills and experience).
- Keep your CV professional and in a simple format – make sure you tailor your cover letter and application to the company and role.
- Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
- Don’t be afraid to reach outside your immediate friends and family to other acquaintances and let them know you are looking for new opportunities.
- Make sure you’ve set your LinkedIn profile to signal that you are “open to opportunities”. Also be sure to use LinkedIn to search for people who are still actively hiring by searching for those that have the headline “I’m hiring” or “We’re hiring” in their profile.
- Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
- Be professional and patient. Always be professional with whoever you are interacting with throughout your search process, this will be remembered. You need to be patient, dedicated and not give up on your search. Candidates need to make sure they are following up appropriately for roles they have applied.
Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz
Stage 2
1. Mathieu van der Poel (NED) Alpecin-Fenix 4:18:30
2. Tadej Pogacar (SLV) UAE Team Emirates 0:00:06
3. Primoz Roglic (SLV) Jumbo-Visma 0:00:06
4. Wilco Kelderman (NED) Bora-Hansgrohe 0:00:06
5. Julian Alaphilippe (FRA) Deceuninck-QuickStep 0:00:08
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
MORE ON INTERNATIONAL JUSTICE
What is the definition of an SME?
SMEs in the UAE are defined by the number of employees, annual turnover and sector. For example, a “small company” in the services industry has six to 50 employees with a turnover of more than Dh2 million up to Dh20m, while in the manufacturing industry the requirements are 10 to 100 employees with a turnover of more than Dh3m up to Dh50m, according to Dubai SME, an agency of the Department of Economic Development.
A “medium-sized company” can either have staff of 51 to 200 employees or 101 to 250 employees, and a turnover less than or equal to Dh200m or Dh250m, again depending on whether the business is in the trading, manufacturing or services sectors.
Company profile
Name: Steppi
Founders: Joe Franklin and Milos Savic
Launched: February 2020
Size: 10,000 users by the end of July and a goal of 200,000 users by the end of the year
Employees: Five
Based: Jumeirah Lakes Towers, Dubai
Financing stage: Two seed rounds – the first sourced from angel investors and the founders' personal savings
Second round raised Dh720,000 from silent investors in June this year
How to become a Boglehead
Bogleheads follow simple investing philosophies to build their wealth and live better lives. Just follow these steps.
• Spend less than you earn and save the rest. You can do this by earning more, or being frugal. Better still, do both.
• Invest early, invest often. It takes time to grow your wealth on the stock market. The sooner you begin, the better.
• Choose the right level of risk. Don't gamble by investing in get-rich-quick schemes or high-risk plays. Don't play it too safe, either, by leaving long-term savings in cash.
• Diversify. Do not keep all your eggs in one basket. Spread your money between different companies, sectors, markets and asset classes such as bonds and property.
• Keep charges low. The biggest drag on investment performance is all the charges you pay to advisers and active fund managers.
• Keep it simple. Complexity is your enemy. You can build a balanced, diversified portfolio with just a handful of ETFs.
• Forget timing the market. Nobody knows where share prices will go next, so don't try to second-guess them.
• Stick with it. Do not sell up in a market crash. Use the opportunity to invest more at the lower price.
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
Fixtures and results:
Wed, Aug 29:
- Malaysia bt Hong Kong by 3 wickets
- Oman bt Nepal by 7 wickets
- UAE bt Singapore by 215 runs
Thu, Aug 30: UAE v Nepal; Hong Kong v Singapore; Malaysia v Oman
Sat, Sep 1: UAE v Hong Kong; Oman v Singapore; Malaysia v Nepal
Sun, Sep 2: Hong Kong v Oman; Malaysia v UAE; Nepal v Singapore
Tue, Sep 4: Malaysia v Singapore; UAE v Oman; Nepal v Hong Kong
Thu, Sep 6: Final
Juliet, Naked
Dir: Jesse Peretz
Starring: Chris O'Dowd, Rose Byrne, Ethan Hawke
Two stars
SCORES IN BRIEF
Lahore Qalandars 186 for 4 in 19.4 overs
(Sohail 100,Phil Salt 37 not out, Bilal Irshad 30, Josh Poysden 2-26)
bt Yorkshire Vikings 184 for 5 in 20 overs
(Jonathan Tattersall 36, Harry Brook 37, Gary Ballance 33, Adam Lyth 32, Shaheen Afridi 2-36).
Mohammed bin Zayed Majlis
Pakistan squad
Sarfraz (c), Zaman, Imam, Masood, Azam, Malik, Asif, Sohail, Shadab, Nawaz, Ashraf, Hasan, Amir, Junaid, Shinwari and Afridi
The Kingfisher Secret
Anonymous, Penguin Books
Results
Women finals: 48kg - Urantsetseg Munkhbat (MGL) bt Distria Krasniqi (KOS); 52kg - Odette Guiffrida (ITA) bt Majlinda Kelmendi (KOS); 57kg - Nora Gjakova (KOS) bt Anastasiia Konkina (Rus)
Men’s finals: 60kg - Amiran Papinashvili (GEO) bt Francisco Garrigos (ESP); 66kg - Vazha Margvelashvili (Geo) bt Yerlan Serikzhanov (KAZ)
TICKETS
Tickets start at Dh100 for adults, while children can enter free on the opening day. For more information, visit www.mubadalawtc.com.
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
Bareilly Ki Barfi
Directed by: Ashwiny Iyer Tiwari
Starring: Kriti Sanon, Ayushmann Khurrana, Rajkummar Rao
Three and a half stars
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
SQUADS
Pakistan: Sarfraz Ahmed (capt), Azhar Ali, Shan Masood, Sami Aslam, Babar Azam, Asad Shafiq, Haris Sohail, Usman Salahuddin, Yasir Shah, Mohammad Asghar, Bilal Asif, Mir Hamza, Mohammad Amir, Hasan Ali, Mohammad Abbas, Wahab Riaz
Sri Lanka: Dinesh Chandimal (capt), Lahiru Thirimanne (vice-capt), Dimuth Karunaratne, Kaushal Silva, Kusal Mendis, Sadeera Samarawickrama, Roshen Silva, Niroshan Dickwella, Rangana Herath, Lakshan Sandakan, Dilruwan Perera, Suranga Lakmal, Nuwan Pradeep, Vishwa Fernando, Lahiru Gamage
Umpires: Ian Gould (ENG) and Nigel Llong (ENG)
TV umpire: Richard Kettleborough (ENG)
ICC match referee: Andy Pycroft (ZIM)
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Killing of Qassem Suleimani
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Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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