In a few days, Sonia Gandhi, the president of the Indian National Congress Party will formally hand over the reins to her son (Congress leadership remains an undisputed Gandhi legacy, December 7).
She has contributed immensely to rebuilding the party and keeping India together. She came to India as the Italian wife of Rajiv Gandhi in 1968 and did not want to enter politics. However after the assassination of her husband, she felt duty bound to politics and the party.
Mrs Gandhi has conducted herself with dignity and aplomb. She has also contributed to the unity of the country by fostering secularism and encouraging able men to manage India.
Managing India with all its multicultural and fissiparous tendencies is a herculean task.
Sonia Gandhi has done an exemplary job in managing her responsibilities.
Rajendra K Aneja, India
Far too many cars are illegally using designated cycle paths
It was so exciting to read about Dubai's ruler "approving construction for 500km of bicycle lanes and other projects" earlier this year. It would be great if Dubai becomes a greener, healthier city.
So, with the Dubai Canal and bicycle lanes we can all ride safely to work in Business Bay on a designated bicycle path away from vehicles. Or can we?
Every day, my colleagues and I encounter motorbikes and cars driving at speed on those bike paths.
It is a worry that one day this could lead to a tragic accident due to reckless driving.
I understand that cycle paths and cyclists are a new part of Dubai culture and may take a while for them to be truly integrated and part of city life.
However, I just hope that the new cycle paths will become safe environments for people and families to use, enjoy, exercise and commute to work.
Name withheld by request
The FNC has made a smart move over special needs kids
I write in reference to your editorial Improving aid for children with special needs is vital (December 7). Your leader was an interesting read. The Federal National Council's recommendation of offering financial aid to special needs children is a good move.This country is encouraging people wherever talent is available.
K Ragavan, India
I can’t wait to see Louvre Abu Dhabi’s newest acquisition
I refer to your story on the imminent arrival of Salvator Mundi (Abu Dhabi's greatest draw, December 8).
What an amazing moment this is for the city of Abu Dhabi. Thank you for all the incredible things that happen in this country, from which we also benefit so much.
I cannot wait to visit Louvre Abu Dhabi again and to see the painting for myself.
Janet Humphrey, Abu Dhabi
GROUP RESULTS
Group A
Results
Ireland beat UAE by 226 runs
West Indies beat Netherlands by 54 runs
Group B
Results
Zimbabwe tied with Scotland
Nepal beat Hong Kong by five wickets
Retirement funds heavily invested in equities at a risky time
Pension funds in growing economies in Asia, Latin America and the Middle East have a sharply higher percentage of assets parked in stocks, just at a time when trade tensions threaten to derail markets.
Retirement money managers in 14 geographies now allocate 40 per cent of their assets to equities, an 8 percentage-point climb over the past five years, according to a Mercer survey released last week that canvassed government, corporate and mandatory pension funds with almost $5 trillion in assets under management. That compares with about 25 per cent for pension funds in Europe.
The escalating trade spat between the US and China has heightened fears that stocks are ripe for a downturn. With tensions mounting and outcomes driven more by politics than economics, the S&P 500 Index will be on course for a “full-scale bear market” without Federal Reserve interest-rate cuts, Citigroup’s global macro strategy team said earlier this week.
The increased allocation to equities by growth-market pension funds has come at the expense of fixed-income investments, which declined 11 percentage points over the five years, according to the survey.
Hong Kong funds have the highest exposure to equities at 66 per cent, although that’s been relatively stable over the period. Japan’s equity allocation jumped 13 percentage points while South Korea’s increased 8 percentage points.
The money managers are also directing a higher portion of their funds to assets outside of their home countries. On average, foreign stocks now account for 49 per cent of respondents’ equity investments, 4 percentage points higher than five years ago, while foreign fixed-income exposure climbed 7 percentage points to 23 per cent. Funds in Japan, South Korea, Malaysia and Taiwan are among those seeking greater diversification in stocks and fixed income.
• Bloomberg
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
