“You know, maybe we don’t ever have to travel again to get a story.”
A fellow foreign correspondent who was previously based in the Middle East and Africa, and now lives in Europe, recently shared this thought with me over lunch, as he told me how he spent six hours on a zoom call with someone for a story that takes place in Thailand.
Last week, I was part of a British literary festival that took place over Zoom. This kind of event is the new normal, as the great global literary festivals like Hay, Brooklyn Books, Jaipur or the Palestine Literary Festival are affected by the coronavirus pandemic.
It felt a little strange, at first, to face a large audience over video conference, but after the first few questions it was fine. We are adapting this new world because, frankly, we have to.
One of the questions was about how foreign correspondents would continue to work in the present climate, with countries locked down and borders sealed. Where foreign reporting once involved risk (especially in war zones) or annoying bureaucratic paperwork (e.g. visas and press cards), today reporting from abroad may mean getting infected with a virus.
One of the panellists, an editor from a major British newspaper, noted that fewer reporters would now be sent overseas, as budgets are shrinking drastically.
Practically speaking, it is going to be difficult for newsrooms to go back to the “old-school” model of reporting. Air travel, when it does begin to open up, will be risky and expensive. More editors will be unwilling to send journalists into the field now that we have all seen how three months of working via Zoom or Skype has yielded pretty impressive results.
Those who are used to reporting abroad will not get the same colour or atmosphere that comes from operating on the ground, but for the most part, they will probably get the exact same quotes.
If this is the future, there are both positive and negative repercussions on the media landscape. If we start living in a world where we do not have objective eyes and ears on the ground to witness world events – for instance, Minnesota burning or protests in Hong Kong – how will we know what is really happening?
French freelance reporter Pierre Torres talks to an AFP journalist based at AFP's Middle East and North Africa headquarters in Nicosia, Cyprus, via Skype direct from the Syrian northern city of Aleppo on July 30, 2012. AFP
All of this, however, can also open up an interesting, viable alternative to the old model. The people the foreign press often refer to somewhat patronisingly as “fixers”, who are usually local reporters crucial in helping us to get our jobs done, might at last have receive well-deserved attention.
I am on the international board of an NGO called the Institute of War and Peace Reporting, founded during the Balkan Wars in the 1990s by Anthony Borden, then a young reporter in the field. The aim is to support and train local journalists in war zones. We help them to thrive and to keep safe, training them in how to deliver credible stories from places like Aleppo or Baghdad.
Technology makes this possible. When I started out as a foreign correspondent 30 years ago, my main challenge was to find a way to get my story back to London or New York – sometimes having to bribe someone for a satellite telephone over which I could dictate my copy. Now you just need a mobile phone to Zoom into headquarters a thousand miles away.
You can Google information that I used to have to knock on doors to get, and you can shoot video from your mobile.
Fewer reporters may be sent overseas, as budgets are shrinking drastically
Of course, in the era of “fake news”, there is a major challenge in ensuring that the local reporters we work with are nonpartisan. Getting the most accurate version of a story is not easy when the person reporting it is from a community under siege. But objectivity is possible. After all, developed countries rely on local reporters to tell local stories without worrying too much about bias.
Then again, it is also difficult if you are working from places with forces that actively obstruct the truth from emerging. Nevertheless, many local reporters are indeed aware of this, and work twice as hard to uphold the ideals of credible journalism. It is also worth pointing out that the list of such places seems to be getting ever longer, arguably growing even to include places like the United States.
I recently had a conversation with a young reporter whose family came from the Balkans. She related how, in the 1990s, she resented foreign reporters coming to her country to tell the story of her people.
“It’s not your story to tell,” she said to me, and I had to agree, although it is worth noting that the work me and my colleagues did in those days did play a significant role in shifting worldviews and policies towards those wars.
I have had similar conversations with writers from the Middle East who have felt that foreigners cannot fully understand the region’s nuances, and therefore have a limited ability to write about them.
These are viewpoints worth listening to. In a few months, I will begin a UN-funded project training local reporters in Iraq, Yemen and Syria on the use of narrative nonfiction to tell the stories of the wars taking place in their countries.
The first lesson I teach will be about objectivity, and I am thinking hard about how to present this. How, after all, do you describe your own country, hometown, city or even family coming under a hail of bombs in a nonpartisan manner?
Covid-19 has changed nearly every aspect of our lives, economically and socially. Now, it is even going to change the way we report the news. Perhaps that is not necessarily a bad thing. Perhaps it is time to pass the baton to a new breed of reporters to tell the story of their own countries with compassion, empathy and pragmatism.
Truth-telling, after all, does not always have to come from foreign reporters. It can come from local people who are seeing, hearing and feeling the news in real time – not just from the other side of a Zoom call.
Janine di Giovanni is a Senior Fellow at Yale’s Jackson Institute for Global Affairs
THE SPECS
Aston Martin Rapide AMR
Engine: 6.0-litre V12
Transmission: Touchtronic III eight-speed automatic
Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.
These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.
Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.
Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.
Dust and sand storms compared
Sand storm
Particle size: Larger, heavier sand grains
Visibility: Often dramatic with thick "walls" of sand
Duration: Short-lived, typically localised
Travel distance: Limited
Source: Open desert areas with strong winds
Dust storm
Particle size: Much finer, lightweight particles
Visibility: Hazy skies but less intense
Duration: Can linger for days
Travel distance: Long-range, up to thousands of kilometres
Source: Can be carried from distant regions
AUSTRALIA SQUAD
Aaron Finch, Matt Renshaw, Brendan Doggett, Michael Neser, Usman Khawaja, Shaun Marsh, Mitchell Marsh, Tim Paine (captain), Travis Head, Marnus Labuschagne, Nathan Lyon, Jon Holland, Ashton Agar, Mitchell Starc, Peter Siddle
MATCH INFO
Manchester City 1 Chelsea 0 De Bruyne (70')
Man of the Match: Kevin de Bruyne (Manchester City)
New UK refugee system
A new “core protection” for refugees moving from permanent to a more basic, temporary protection
Shortened leave to remain - refugees will receive 30 months instead of five years
A longer path to settlement with no indefinite settled status until a refugee has spent 20 years in Britain
To encourage refugees to integrate the government will encourage them to out of the core protection route wherever possible.
Under core protection there will be no automatic right to family reunion
Refugees will have a reduced right to public funds
Ordinary Virtues: Moral Order in a Divided World by Michael Ignatieff
Harvard University Press
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
THE TWIN BIO
Their favourite city: Dubai
Their favourite food: Khaleeji
Their favourite past-time : walking on the beach
Their favorite quote: ‘we rise by lifting others’ by Robert Ingersoll
Company profile
Name: Dukkantek
Started: January 2021
Founders: Sanad Yaghi, Ali Al Sayegh and Shadi Joulani
Based: UAE
Number of employees: 140
Sector: B2B Vertical SaaS(software as a service)
Investment: $5.2 million
Funding stage: Seed round
Investors: Global Founders Capital, Colle Capital Partners, Wamda Capital, Plug and Play, Comma Capital, Nowais Capital, Annex Investments and AMK Investment Office
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.”
UAE currency: the story behind the money in your pockets
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.