Depeche Mode perform live at Letzigrund Stadion in Zurich. Singer and songwriter Dave Gahan on stage with guitarist Martin Gore, Switzerland, June 2017. Getty Images
Depeche Mode perform live at Letzigrund Stadion in Zurich. Singer and songwriter Dave Gahan on stage with guitarist Martin Gore, Switzerland, June 2017. Getty Images
Depeche Mode perform live at Letzigrund Stadion in Zurich. Singer and songwriter Dave Gahan on stage with guitarist Martin Gore, Switzerland, June 2017. Getty Images
Three decades ago this year, the electronic band Depeche Mode released the song Enjoy the Silence, one of their biggest hits ever. Chances are that when Martin Gore, the band's main songwriter, penned the song he had little idea that it would become the perfect soundtrack to the lockdowns adopted by so many countries around the world over the past months to slow the spread of coronavirus. Because for the first time a lot of us living in cities have been experiencing a dramatic decrease in noise pollution and therefore enjoying a form of silence on the streets.
You might have been one of the many city dwellers who revelled in this urban silence. For me, sleeping with my windows open and not being woken up by loud people returning from a party in the middle of the night but by birds singing in the morning was a first in Aix-en-Provence, where I stayed part of the time.
Talking about the positive things that have come out of the Covid-19 crisis so far is tricky, to say the least, and could be perceived as insensitive and lacking empathy for those who suffered and still do. Given the death toll and the dramatic consequences in terms of health, economic and society that are ahead of us, it is difficult to truly appreciate any unintended consequence, even if it is beneficial to the environment and our lives.
The main street Le Cours Mirabeau in Aix-en-Provence, southern France on March 20, deserted due to a strict lockdown to stop the spread of Covid-19. Clement Mahoudeau / AFP
The decrease in air and noise pollution was significant for a while. Yet, this new found silence has been disorienting, at least at the beginning. Not just because it was a reminder of the seriousness of the Covid-19 situation. But also because we are not used to silence since noise is embedded in urban life, unfortunately.
An anechoic chamber is a room that can absorb all sounds, noises and even electromagnetic waves
During my first night walk in the empty city, it felt really strange. It somewhat reminded of an experience I had during a trip I made to Sydney, Australia last summer to spend time with the members of the research team of my company. Our research and development facility is located on the beautiful, and very quiet, Macquarie University campus. Some of the university’s researchers with whom we collaborate to better understand the brain’s auditory system invited us to visit their anechoic chamber. That was an unusual experience.
An anechoic chamber is a room that can absorb all sounds, noises and even electromagnetic waves. Even the floor is a suspended mesh to avoid noise when one walks. These chambers allow us to study our auditory system, to test audio gear and are used by aerospace agencies so their astronauts can be trained to get used to silence in space. Once inside, you can experience true silence – you start hearing the “mechanics” of your own biorhythms.
If you don’t move, you can hear your breathing rhythm, and some report hearing their own heart beat. A lot of people, after a few minutes in an anechoic chamber, can feel dizzy because of the novelty of the experience. How sad that we are so used to noise that we find silence disturbing.
Another reason why the Depeche Mode hit fits so well with the current times is because of the paradox it reminds us: words break the silence. And speaking about the silence itself is no exception.
During the lockdown, noise prevented me from truly appreciating this silent parenthesis. The annoying noise I am referring to is the noise made by echo chambers and digital wildfires. There was the noise made by those who overnight proclaimed themselves experts in epidemiology or crisis management, gurus in working from home or stress and anxiety management.
More recently we have had to suffer the predictions of those who, despite the lack of experience or data, know what “life after” is going to look like. Add to that their supporters and opponents fuelling digital wildfires with fake news and no wonder this noise was unbearable.
Even when we have the best intentions in mind, warning about fake news on social or traditional media means that we are advertising these pieces of fake news. Raising concerns about inaccurate information with a thoughtful message to debunk it constitutes a risk: it can bring this news to the attention of people who may not have heard it otherwise.
A concrete example is when heads of state have been advocating coronavirus treatments that could be dangerous. The person who started the fake news is responsible. But so are those who spread it – even by opposing it they put lives at risk.
For centuries, there has been an ongoing debate regarding whether or not we have free will. One thing for sure is that we have “free won’t”. The power “not to”. Not to comment and share information that is unverified or still under investigation, for example.
Being informed is a human right. But enjoying the silence should also be one. Given how unbearable the noise made by echo chambers has become, I wonder if we could create digital anechoic ones.
Professor Olivier Oullier is the president of Emotiv, a neuroscientist and a DJ
Leap of Faith
Michael J Mazarr
Public Affairs
Dh67
Results
2.15pm: Handicap Dh80,000 1,950m
Winner: Hello, Tadhg O’Shea (jockey), Ali Rashid Al Raihi (trainer).
2.45pm: Handicap Dh90,000 1,800m
Winner: Right Flank, Pat Dobbs, Doug Watson.
3.15pm: Handicap Dh115,000 1,000m
Winner: Leading Spirit, Richard Mullen, Satish Seemar.
3.45pm: Jebel Ali Mile Group 3 Dh575,000 1,600m
Winner: Chiefdom, Royston Ffrench, Salem bin Ghadayer.
4.15pm: Handicap Dh105,000 1,400m
Winner: Ode To Autumn, Patrick Cosgrave, Satish Seemar.
4.45pm: Shadwell Farm Conditions Dh125,000 1,200m
Winner: Last Surprise, James Doyle, Simon Crisford.
5.15pm: Handicap Dh85,000 1,200m
Winner: Daltrey, Sandro Paiva, Ali Rashid Al Raihi.
French business
France has organised a delegation of leading businesses to travel to Syria. The group was led by French shipping giant CMA CGM, which struck a 30-year contract in May with the Syrian government to develop and run Latakia port. Also present were water and waste management company Suez, defence multinational Thales, and Ellipse Group, which is currently looking into rehabilitating Syrian hospitals.
Favourite holiday destination: Either Kazakhstan or Montenegro. I’ve been involved in events in both countries and they are just stunning.
Favourite book: I am a huge of Robin Cook’s medical thrillers, which I suppose is quite apt right now. My mother introduced me to them back home in New Zealand.
Favourite film or television programme: Forrest Gump is my favourite film, that’s never been up for debate. I love watching repeats of Mash as well.
Inspiration: My late father moulded me into the man I am today. I would also say disappointment and sadness are great motivators. There are times when events have brought me to my knees but it has also made me determined not to let them get the better of me.
I Care A Lot
Directed by: J Blakeson
Starring: Rosamund Pike, Peter Dinklage
3/5 stars
Results
5pm: Maiden (PA) Dh80,000 (Turf) 1,000mm, Winners: Mumayaza, Fabrice Veron (jockey), Eric Lemartinel (trainer)
5.30pm: Wathba Stallions Cup Handicap (PA) Dh70,000 (T) 2,200m, Winners: Sharkh, Pat Cosgrave, Helal Al Alawi
6pm: The President’s Cup Prep - Conditions (PA) Dh100,000 (T) 2,200m, Winner: Somoud, Richard Mullen, Jean de Roualle
6.30pm: Handicap (PA) Dh90,000 (T) 1,600m, Winner: Harrab, Ryan Curatolo, Jean de Roualle
7pm: Abu Dhabi Equestrian Gold Cup - Prestige (PA) Dh125,000 (T) 1,600m, Winner: Hameem, Adrie de Vries, Abdallah Al Hammadi
7.30pm: Al Ruwais – Group 3 (PA) Dh300,000 (T) 1,200m, Winner: AF Alwajel, Tadhg O’Shea, Ernst Oertel
8pm: Maiden (TB) Dh80,000 (T) 1,400m, Winner: Nibras Passion, Bernardo Pinheiro, Ismail Mohammed
RESULTS
5pm Wathba Stallions Cup Maiden (PA) Dh70,000 (Dirt) 1,400m
Winner Munfared, Fernando Jara (jockey), Ahmed Al Mehairbi (trainer)
5.30pm Handicap (PA) Dh70,000 (D) 1,600m
Winner Sawt Assalam, Szczepan Mazur, Ibrahim Al Hadhrami
6pm Maiden (PA) Dh70,000 (D) 1,800m
Winner Dergham Athbah, Pat Dobbs, Mohamed Daggash
6.30pm Handicap (PA) Dh70,000 (D) 1,800m
Winner Rajee, Fernando Jara, Majed Al Jahouri
7pm Conditions (PA) Dh80,000 (D) 1,800m
Winner Kerless Del Roc, Fernando Jara, Ahmed Al Mehairbi
7.30pm Handicap (TB) Dh70,000 (D) 2,000m
Winner Pharoah King, Pat Dobbs, Doug Watson
8pm Conditions (PA) Dh85,000 (D) 2,000m
Winner Sauternes Al Maury, Dane O’Neill, Doug Watson
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.”
5pm: Mohamed Yousuf Naghi Motors Cup (Turf), 5.35pm: 1351 Cup (T), 6.10pm: Longines Turf Handicap (T), 6.45pm: Obaiya Arabian Classic for Purebred Arabians (Dirt), 7.30pm: Jockey Club Handicap (D), 8.10pm: Samba Saudi Derby (D), 8.50pm: Saudia Sprint (D), 9.40pm: Saudi Cup (D)
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
Key findings of Jenkins report
Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
Company: Instabug
Founded: 2013
Based: Egypt, Cairo
Sector: IT
Employees: 100
Stage: Series A
Investors: Flat6Labs, Accel, Y Combinator and angel investors