Labour Party leadership candidates Liz Kendall and Jeremy Corbyn in a leadership debate in central London this week. Peter Nicholls / Reuters
Labour Party leadership candidates Liz Kendall and Jeremy Corbyn in a leadership debate in central London this week. Peter Nicholls / Reuters
Labour Party leadership candidates Liz Kendall and Jeremy Corbyn in a leadership debate in central London this week. Peter Nicholls / Reuters
Labour Party leadership candidates Liz Kendall and Jeremy Corbyn in a leadership debate in central London this week. Peter Nicholls / Reuters

The strange new appeal of the old men of the left


  • English
  • Arabic

Across the northern Anglosphere, the implausible is suddenly looking possible and, in one case even probable. In America, Bernie Sanders, a 73-year-old self-declared socialist who is not even a registered Democrat, is bringing an excitement to that party’s contest for the presidential nomination that the presumed candidate, Hillary Clinton, cannot begin to match. The current Republican frontrunner, meanwhile, is the cartoonish Donald Trump, a reality TV star and real estate billionaire whose ascent may only be stopped if GOP voters realise that his history suggests he isn’t really a conservative at all.

In Britain, Jeremy Corbyn, a hard left MP who has had a beard long enough for it to have come back into fashion, looks likely to become leader of the opposition Labour party.

The top echelons of Britain’s major opposition party used to proclaim they were “intensely relaxed about people getting filthy rich”. Their probable next helmsman, however, is an ascetic vegetarian whose attachment to socialist principles is so strong that his second marriage ended over his then wife’s insistence that their son attend an elite selective school.

All three are denounced as unrealistic, as having programmes that do not add up, as not being serious contenders for power. Britain’s former prime minister, Tony Blair, told off Mr Corbyn’s supporters for living in an “Alice in Wonderland world”.

Yet the much-commented on yearning for authenticity that brought Syriza to power in Greece, and has fuelled the rise of alternative parties of both right and left across Europe, from the Front National in France to the post-communist Die Linke in Germany, reveals a dissatisfaction with mainstream politicians who appear never to dream, even a little.

In most western democracies, the main protagonists give the impression that great gulfs divide them. But those divisions only look big because the ideological spectrum is so small. The mainstream parties all hew to some variant of market capitalism. It is only pugilistic rhetoric that turns disagreements about how to tinker at the edges into political battles in which everything is supposedly at stake.

Former officeholders caution of the need to win and hold “the centre”. But the opportunistic vacuity of taking positions you don’t really believe, but which you think will least offend the majority, appears to have been found out. As the veteran British politician Shirley Williams put it presciently in 1980: a party of the centre would have “no roots, no principles, no philosophy and no values”.

The practical imperative to chase these voters comes from having electoral systems that are geared towards duopolies, and so long as there are only two participants that works well enough for nobody to complain too much. Even so, these systems are still straitjackets, as the two parties will by necessity be broad churches – and this means that the manifestoes presented to the electorate are already compromises.

Once duopolies begin to break down and the voters make clear that they prefer a three, four or even five party system, first past the post elections – as used in both the US and Britain – make no sense at all. They produce bizarrely unrepresentative results, in which parliamentary majorities can be secured on barely more than a third of the vote. This was the case with Mr Blair’s last “victory” in 2005, when Labour won a third term with a mere 35 per cent of ballots cast. (The fact that no British government has come to power with an overall majority of the vote since 1931 ought to raise very serious questions about how democratic UK elections are at all.)

So I am glad that Mr Corbyn looks set to win. Not because I want the Labour party to be unelectable, but because it would be refreshing for people to have the opportunity to vote for a party of the left that unashamedly stands up for its principles. It is true that a fairer electoral system, in which representation was more proportionate, would lead to constant coalitions. But if voters choose to cast their ballot in a multi-party manner, that is the logical and appropriate conclusion.

A Corbyn Labour party might only win, perhaps, 28 per cent of the vote. But if the Liberal Democrats won 15 per cent and the Greens took eight per cent, a coalition could be achieved that represented a majority. Yes, compromises would have to made in forming a government, but they would be made in full view and the parties could be held responsible afterwards. This would surely be better than compromises being made by parties themselves, and the voters’ choice then restricted to only two.

This is the conversation that would have taken place if David Cameron’s Conservatives had not unexpectedly won a parliamentary majority (on 37 per cent of the vote). A coalition would have had to have been formed.

And doing so in a hung parliament with such grotesque disparities between votes and seats – with the SNP winning 56 seats on 4.7 percent, and the Lib Dems only eight on almost double the votes – would have forced a discussion on an electoral system that was clearly broken.

A Corbyn victory ought to bring the issue back into focus. There is a desire for clear-cut choices and for politicians who are unafraid to stand up for what they believe, rather than triangulating to a wishy-washy, ever-shifting centre.

The West has found them in candidates such as Messrs Corbyn, Mr Sanders and Mr Trump. They may be dismissed as mavericks. But if they each arouse the enthusiasm of a significant portion of the electorate – let’s say anything from 15 to 25 percent – and the system can’t fit them in, I would suggest this: there is something wrong with the system, not the people who voted for them.

Sholto Byrnes is a senior fellow at the Institute of Strategic and International Studies, Malaysia

Zakat definitions

Zakat: an Arabic word meaning ‘to cleanse’ or ‘purification’.

Nisab: the minimum amount that a Muslim must have before being obliged to pay zakat. Traditionally, the nisab threshold was 87.48 grams of gold, or 612.36 grams of silver. The monetary value of the nisab therefore varies by current prices and currencies.

Zakat Al Mal: the ‘cleansing’ of wealth, as one of the five pillars of Islam; a spiritual duty for all Muslims meeting the ‘nisab’ wealth criteria in a lunar year, to pay 2.5 per cent of their wealth in alms to the deserving and needy.

Zakat Al Fitr: a donation to charity given during Ramadan, before Eid Al Fitr, in the form of food. Every adult Muslim who possesses food in excess of the needs of themselves and their family must pay two qadahs (an old measure just over 2 kilograms) of flour, wheat, barley or rice from each person in a household, as a minimum.

The specs
  • Engine: 3.9-litre twin-turbo V8
  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
  • Price: Not announced yet
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UAE currency: the story behind the money in your pockets
MATCH INFO

CAF Champions League semi-finals first-leg fixtures

Tuesday:

Primeiro Agosto (ANG) v Esperance (TUN) (8pm UAE)
Al Ahly (EGY) v Entente Setif (ALG) (11PM)

Second legs:

October 23

Bombshell

Director: Jay Roach

Stars: Nicole Kidman, Charlize Theron, Margot Robbie 

Four out of five stars 

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BORDERLANDS

Starring: Cate Blanchett, Kevin Hart, Jamie Lee Curtis

Director: Eli Roth

Rating: 0/5

Islamophobia definition

A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.

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How to turn your property into a holiday home
  1. Ensure decoration and styling – and portal photography – quality is high to achieve maximum rates.
  2. Research equivalent Airbnb homes in your location to ensure competitiveness.
  3. Post on all relevant platforms to reach the widest audience; whether you let personally or via an agency know your potential guest profile – aiming for the wrong demographic may leave your property empty.
  4. Factor in costs when working out if holiday letting is beneficial. The annual DCTM fee runs from Dh370 for a one-bedroom flat to Dh1,200. Tourism tax is Dh10-15 per bedroom, per night.
  5. Check your management company has a physical office, a valid DTCM licence and is licencing your property and paying tourism taxes. For transparency, regularly view your booking calendar.
Skoda Superb Specs

Engine: 2-litre TSI petrol

Power: 190hp

Torque: 320Nm

Price: From Dh147,000

Available: Now

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.”

ICC Intercontinental Cup

UAE squad Rohan Mustafa (captain), Chirag Suri, Shaiman Anwar, Rameez Shahzad, Mohammed Usman, Adnan Mufti, Saqlain Haider, Ahmed Raza, Mohammed Naveed, Imran Haider, Qadeer Ahmed, Mohammed Boota, Amir Hayat, Ashfaq Ahmed

Fixtures Nov 29-Dec 2

UAE v Afghanistan, Zayed Cricket Stadium, Abu Dhabi

Hong Kong v Papua New Guinea, Sharjah Cricket Stadium

Ireland v Scotland, Dubai International Stadium

Namibia v Netherlands, ICC Academy, Dubai

NYBL PROFILE

Company name: Nybl 

Date started: November 2018

Founder: Noor Alnahhas, Michael LeTan, Hafsa Yazdni, Sufyaan Abdul Haseeb, Waleed Rifaat, Mohammed Shono

Based: Dubai, UAE

Sector: Software Technology / Artificial Intelligence

Initial investment: $500,000

Funding round: Series B (raising $5m)

Partners/Incubators: Dubai Future Accelerators Cohort 4, Dubai Future Accelerators Cohort 6, AI Venture Labs Cohort 1, Microsoft Scale-up 

How to get there

Emirates (www.emirates.com) flies directly to Hanoi, Vietnam, with fares starting from around Dh2,725 return, while Etihad (www.etihad.com) fares cost about Dh2,213 return with a stop. Chuong is 25 kilometres south of Hanoi.
 

RedCrow Intelligence Company Profile

Started: 2016

Founders: Hussein Nasser Eddin, Laila Akel, Tayeb Akel 

Based: Ramallah, Palestine

Sector: Technology, Security

# of staff: 13

Investment: $745,000

Investors: Palestine’s Ibtikar Fund, Abu Dhabi’s Gothams and angel investors

Major matches on Manic Monday

Andy Murray (GBR) v Benoit Paire (FRA)

Grigor Dimitrov (BGR) v Roger Federer (SUI)

Rafael Nadal (ESP) v Gilles Muller (LUX)

Adrian Mannarino (FRA) Novak Djokovic (SRB)

What She Ate: Six Remarkable Women & the Food That Tells Their Stories
Laura Shapiro
Fourth Estate

The specs

Engine: 2-litre 4-cylinder and 3.6-litre 6-cylinder

Power: 220 and 280 horsepower

Torque: 350 and 360Nm

Transmission: eight-speed automatic

Price: from Dh136,521 VAT and Dh166,464 VAT 

On sale: now

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The 12 breakaway clubs

England

Arsenal, Chelsea, Liverpool, Manchester City, Manchester United, Tottenham Hotspur

Italy
AC Milan, Inter Milan, Juventus

Spain
Atletico Madrid, Barcelona, Real Madrid

UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

MATCH INFO

BRIGHTON 0

MANCHESTER UNITED 3

McTominay 44'

Mata 73'

Pogba 80'

RESULTS

2.30pm Jaguar I-Pace – Conditions (PA) Dh80,000 (Dirt)
1,600m 

Winner Namrood, Antonio Fresu (jockey), Musabah Al Muhairi
(trainer) 

3.05pm Land Rover Defender – Maiden (TB) Dh82,500 (D)
1,400m 

Winner Shadzadi, Tadhg O’Shea, Bhupat Seemar 

3.40pm Jaguar F-Type – Maiden (TB) Dh82,500 (Turf) 1,600m 

Winner Tahdeed, Fernando Jara, Nicholas Bachalard 

4.15pm New Range Rover – Handicap (TB) Dh87,500 (D) 1,400m 

Winner Shanty Star, Richard Mullen, Rashed Bouresly 

4.50pm Land Rover – Handicap (TB) Dh95,000 (T) 2,400m 

Winner Autumn Pride, Bernardo Pinheiro, Helal Al Alawi 

5.25pm Al Tayer Motor – Handicap (TB) Dh95,000  T) 1,000m 

Winner Dahawi, Antonio Fresu, Musabah Al Muhairi 

6pm Jaguar F-Pace SVR – Handicap (TB) Dh87,500 (D) 1,600m 

Winner Scabbard, Sam Hitchcock, Doug Watson  

'The Last Days of Ptolemy Grey'

Rating: 3/5

Directors: Ramin Bahrani, Debbie Allen, Hanelle Culpepper, Guillermo Navarro

Writers: Walter Mosley

Stars: Samuel L Jackson, Dominique Fishback, Walton Goggins