A portrait of Desmond Tutu outside St George's cathedral in Cape Town. AFP
A portrait of Desmond Tutu outside St George's cathedral in Cape Town. AFP
A portrait of Desmond Tutu outside St George's cathedral in Cape Town. AFP
A portrait of Desmond Tutu outside St George's cathedral in Cape Town. AFP


Desmond Tutu chose peace when it was most difficult


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December 26, 2021

Few moments in the latter stages of the 20th century were as closely watched around the world as the end of apartheid in South Africa. In 1994, South Africans switched suddenly from decades-long racial segregation to a political system with the capacity to be truly representative. It meant South Africa could go into the 21st century as a "Rainbow Nation", no longer a place where more than three quarters of its population were discriminated against at all levels by a small, white elite.

It was a lesson in forgiveness. After decades of tension, and not before some violence, the final stage of the transition was peaceful, largely down to visionary leaders who never wavered from the importance of keeping the country together and building an inclusive future.

Yesterday, Archbishop Desmond Tutu, one of these leading pioneers, died.

Born in 1931, Tutu was ordained in 1961 and made history when he became Johannesburg’s first black Anglican dean in 1975. He became archbishop, one of the highest offices in the Christian church, in 1986. He was a Nobel Prize laureate, along with other figureheads of the movement such as former presidents Nelson Mandela and FW De Klerk, all part of a generation of "outstanding South Africans who bequeathed a liberated South Africa", President Cyril Ramaphosa said after the news of Tutu's passing.

  • Desmond Tutu, then the head of South Africa's Truth and Reconciliation Committee, pictured in 2004 at Dean's Yard in London. Getty
    Desmond Tutu, then the head of South Africa's Truth and Reconciliation Committee, pictured in 2004 at Dean's Yard in London. Getty
  • Desmond Tutu, third left, pictured with The Elders in Johannesburg. The international NGO is made up of statesmen, peace advocates and human rights activists, and was set up by Nelson Mandela, seated, in 2007. Getty
    Desmond Tutu, third left, pictured with The Elders in Johannesburg. The international NGO is made up of statesmen, peace advocates and human rights activists, and was set up by Nelson Mandela, seated, in 2007. Getty
  • On June 23, 1996, South African leader Nelson Mandela bestowed the Order of Meritorious Service on Desmond Tutu at a farewell service at St George's Cathedral in Cape Town. Described as the country's moral compass, Tutu died on December 26, 2021, aged 90. AFP
    On June 23, 1996, South African leader Nelson Mandela bestowed the Order of Meritorious Service on Desmond Tutu at a farewell service at St George's Cathedral in Cape Town. Described as the country's moral compass, Tutu died on December 26, 2021, aged 90. AFP
  • Nelson Mandela holds the Jules Rimet World Cup beside Desmond Tutu. AFP
    Nelson Mandela holds the Jules Rimet World Cup beside Desmond Tutu. AFP
  • Desmond Tutu kisses Archie Mountbatten-Windsor on the head as he is held by his mother, Meghan, Duchess of Sussex, during a royal tour of South Africa on September 25, 2019. Getty
    Desmond Tutu kisses Archie Mountbatten-Windsor on the head as he is held by his mother, Meghan, Duchess of Sussex, during a royal tour of South Africa on September 25, 2019. Getty
  • The Dalai Lama and Archbishop Desmond Tutu in 2006 in Brussels, Belgium. Getty
    The Dalai Lama and Archbishop Desmond Tutu in 2006 in Brussels, Belgium. Getty
  • US president Barack Obama chats with Archbishop Desmond Tutu following a tour of the Desmond Tutu HIV Foundation Youth Centre in Cape Town, South Africa. AFP
    US president Barack Obama chats with Archbishop Desmond Tutu following a tour of the Desmond Tutu HIV Foundation Youth Centre in Cape Town, South Africa. AFP
  • Archbishop Desmond Tutu with Graca Machel, the wife of former South African president Nelson Mandela. AFP
    Archbishop Desmond Tutu with Graca Machel, the wife of former South African president Nelson Mandela. AFP
  • Desmond Tutu with his wife Nomalizo Leah Tutu and other members of his family pictured in the UK, December, 1984. Getty
    Desmond Tutu with his wife Nomalizo Leah Tutu and other members of his family pictured in the UK, December, 1984. Getty
  • Desmond Tutu greets George Carey, then the Archbishop of Canterbury. Reuters
    Desmond Tutu greets George Carey, then the Archbishop of Canterbury. Reuters
  • Desmond Tutu in 2019. AFP
    Desmond Tutu in 2019. AFP
  • Desmond Tutu and former South African president FW de Klerk during the unveiling of statues of South Africa's four Nobel Peace Prize winners: de Klerk, Tutu, Chief Albert Luthuli, former president of the African National Congress, and former president Nelson Mandela. AFP
    Desmond Tutu and former South African president FW de Klerk during the unveiling of statues of South Africa's four Nobel Peace Prize winners: de Klerk, Tutu, Chief Albert Luthuli, former president of the African National Congress, and former president Nelson Mandela. AFP
  • Desmond Tutu casts his vote in Cape Town during South Africa's first democratic elections, which were held in 1994. AFP
    Desmond Tutu casts his vote in Cape Town during South Africa's first democratic elections, which were held in 1994. AFP
  • Desmond Tutu blesses the "human rainbow" concert to celebrate Nelson Mandela's release from prison in 1990. AFP
    Desmond Tutu blesses the "human rainbow" concert to celebrate Nelson Mandela's release from prison in 1990. AFP
  • Desmond Tutu takes up his position as visiting professor in post-conflict studies at Kings College London in 2004. Getty
    Desmond Tutu takes up his position as visiting professor in post-conflict studies at Kings College London in 2004. Getty
  • Desmond Tutu speaks during the memorial for Prince Friso in the Old Church in Delft, the Netherlands on November 2, 2013. Getty
    Desmond Tutu speaks during the memorial for Prince Friso in the Old Church in Delft, the Netherlands on November 2, 2013. Getty
  • Desmond Tutu, right, during the Rugby World Cup 2019 Champions Tour on November 11, 2019 in Cape Town.
    Desmond Tutu, right, during the Rugby World Cup 2019 Champions Tour on November 11, 2019 in Cape Town.

After Mandela's election in 1994, the first vote in which black South Africans could participate, Tutu was appointed head of the Truth and Reconciliation Commission, which investigated human rights abuses that took place during the apartheid era. While its main purpose was to gather evidence from victims and perpetrators on historic crimes, it did not set out to prosecute retrospectively. Rather, it sought to only establish the truth. It published its final findings in 2003.

Tutu summed up the approach in these lines: "When we see others as the enemy, we risk becoming what we hate. When we oppress others, we end up oppressing ourselves. All of our humanity is dependent upon recognising the humanity in others."

There was nothing easy or inevitable about this outlook. North of the border, in Zimbabwe, a government led by Robert Mugabe was descending into corruption and division that eventually saw the violent seizure of white-owned farms, a move that left Zimbabweans traumatised and with severe food shortages.

Having now lost two of their country’s chief architects – Mandela died in 2013 – younger South Africans bear a special responsibility to keep its peaceful development on track. This mission became particularly crucial in 2021. Widespread riots broke out in July, fuelled by poverty in a country where it is increasingly hard to find jobs. And while South Africa has come a great distance since the end of apartheid, the system’s legacy is often blamed for this lingering inequality.

Much work is still to be done, then. But for tough moments, South Africans will always have the example of leaders such as Tutu to remind themselves that a better, more peaceful way exists.

Predictions

Predicted winners for final round of games before play-offs:

  • Friday: Delhi v Chennai - Chennai
  • Saturday: Rajasthan v Bangalore - Bangalore
  • Saturday: Hyderabad v Kolkata - Hyderabad
  • Sunday: Delhi v Mumbai - Mumbai
  • Sunday - Chennai v Punjab - Chennai

Final top-four (who will make play-offs): Chennai, Hyderabad, Mumbai and Bangalore

Asia Cup 2018 final

Who: India v Bangladesh

When: Friday, 3.30pm, Dubai International Stadium

Watch: Live on OSN Cricket HD

CABINET%20OF%20CURIOSITIES%20EPISODE%201%3A%20LOT%2036
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EGuillermo%20del%20Toro%3Cbr%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Tim%20Blake%20Nelson%2C%20Sebastian%20Roche%2C%20Elpidia%20Carrillo%3Cbr%3ERating%3A%204%2F5%3C%2Fp%3E%0A
The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative 

Tips for newlyweds to better manage finances

All couples are unique and have to create a financial blueprint that is most suitable for their relationship, says Vijay Valecha, chief investment officer at Century Financial. He offers his top five tips for couples to better manage their finances.

Discuss your assets and debts: When married, it’s important to understand each other’s personal financial situation. It’s necessary to know upfront what each party brings to the table, as debts and assets affect spending habits and joint loan qualifications. Discussing all aspects of their finances as a couple prevents anyone from being blindsided later.

Decide on the financial/saving goals: Spouses should independently list their top goals and share their lists with one another to shape a joint plan. Writing down clear goals will help them determine how much to save each month, how much to put aside for short-term goals, and how they will reach their long-term financial goals.

Set a budget: A budget can keep the couple be mindful of their income and expenses. With a monthly budget, couples will know exactly how much they can spend in a category each month, how much they have to work with and what spending areas need to be evaluated.

Decide who manages what: When it comes to handling finances, it’s a good idea to decide who manages what. For example, one person might take on the day-to-day bills, while the other tackles long-term investments and retirement plans.

Money date nights: Talking about money should be a healthy, ongoing conversation and couples should not wait for something to go wrong. They should set time aside every month to talk about future financial decisions and see the progress they’ve made together towards accomplishing their goals.

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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.”

Desert Warrior

Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

Auron Mein Kahan Dum Tha

Starring: Ajay Devgn, Tabu, Shantanu Maheshwari, Jimmy Shergill, Saiee Manjrekar

Director: Neeraj Pandey

Rating: 2.5/5

THE SPECS

Aston Martin Rapide AMR

Engine: 6.0-litre V12

Transmission: Touchtronic III eight-speed automatic

Power: 595bhp

Torque: 630Nm

Price: Dh999,563

Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

German intelligence warnings
  • 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
  • 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
  • 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250 

Source: Federal Office for the Protection of the Constitution

Updated: December 26, 2021, 6:03 PM