Pep Montserrat for The National
Pep Montserrat for The National
Pep Montserrat for The National
Pep Montserrat for The National

Miracle at the Chilean mine might kill Pinochet's ghost


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By delicious irony, the local member of parliament for the impoverished Atacama region of Chile - which includes the doomed mine of San Jose - is none other than Isabel Allende. Allende is the daughter of Salvador Allende, who was a president of the country and who put a revolver to his head in the final hours of the August 1973 coup d'etat, which toppled the world's first, and only, elected Marxist head of state. That coup, which Henry Kissinger famously reported to Richard Nixon with the words "we didn't do it ... but we helped them do it" paved the way for decades of brutish dictatorship under General Augusto Pinochet.

This week, a momentous week full of human drama, as 33 miners were slowly winched out of their underground prison by a capsule that might have done service in a Star Trek movie, has done wonders for the people of Chile and wonders for the international reputation of their country. For the first time in a very long time there is a real mood of national pride, that despite the almost impossible odds Chileans performed the miracle so many of its devout Catholic worshippers had been praying for. But more profound still is the knowledge that this South American state may at last have thrown off the shackles of the recent past and may yet come to be remembered as the country that rescued its miners, rather than the place where democracy was forcibly replaced by the dictatorship of Pinochet.

For Pinochet cast a shadow long after he was forced to stand down in 1990. The families of the disappeared kept up their vigils, even as Pinochet continued his political afterlife commanding Chile's armed forces. His economic legacy of extreme wealth alongside extreme poverty lingered, as did the national and international attempts to bring him to justice that finally culminated in the old dictator being briefly kept under a form of house arrest near a golf course in southern England. It also underscored all that anyone knew about a country that was far away and of which, in truth, they knew very little.

Chile's current president, Sebastian Pinera, billionaire businessman, had the very good sense to be there as the first miners broke to the surface, to receive the hugs of the grateful men, to be there even to receive a piece of rock one of the miners had brought with him from the pit's bottom. He has had the better sense to announce that the San Jose mine will never re-open, and has made a bold promise that "safety first" will be the watchword for the industry. With a sharp media eye, he has invited the miners to play his staff in a football match - the winners getting the run of the presidential palace for a while. Having reported from underground in the coal mines of Polish Silesia and Outer Mongolia, and seen the conditions under which miners work, I suspect that mining communities around the world will wonder if the president's conversion to safe mining practices really does mark a turning point. Be that as it may, for most Chileans this is a World Cup victory moment.

Other countries and peoples can only hope for such a seismic piece of national good news to begin to overturn decades of entrenched attitudes. This week marks the opening of the first post-war exhibition devoted to another dictator, Adolf Hitler, in Berlin's Cultural Museum. But even here, more than 60 years since der Führer committed suicide in the burning ruins of the capital of his "thousand-year Reich", the organisers are treading carefully. The exhibition is diplomatically titled "Hitler and the Germans: Nation and Crime". They say they will not display Nazi uniforms - partly because this is still illegal in Germany, but also because they don't want to attract young neo-Nazis. Post-war German history is full of mighty triumphs that took place in spite of the scorched-earth policies of the Nazis in their final, dying days. The heroic Berlin Airlift and the struggle of the West Berliners for their freedom; the great post-war economic miracle of Western Germany, the triumph of unification - all of these should surely be enough to finally draw a line under Hitler.

Not quite. After the Berlin Wall came down and the great expanse of the Potsdamer Platz could finally be re-developed, great care was made to finally bury Hitler's ruined bunker forever. When a few years later a giant swastika was spotted in the form of judiciously planted larch trees in a forest in eastern Germany, the offending trees were immediately felled. There are - despite the passage of time - very deep sensibilities that remain. There are also unnerving entrenched attitudes amongst a minority - one out of 10 Germans in a recent poll professed to wanting a "Führer" figure, while 35 per cent of respondents said that there were "too many foreigners in Germany". In sentencing the Nazi deputy leader, Hermann Goering in 1945, the Nuremburg judge said of him: "Your crimes are unique in their enormity". It is the enormity of wartime Germany's crimes against the Jews and the Slavs that will echo down the years, long after Pinochet has become a dim and dusty memory.

So what then of a more recent example - the Baathist dictator of Iraq, Saddam Hussein? In essence the borders of that oil-rich state were artificially created to ensure the country remained weak and divided, the sort of geographic construct that would inevitably require a strong man to keep it all together. Saddam, like Pinochet, was a homegrown despot, but unlike Pinochet - or the more seriously evil and destructive Hitler - he was a tribal leader deeply rooted in the sizeable Sunni minority. His adventurism and old-fashioned brutality, coupled with his venality, ensured that his removal by the Americans was met with widespread relief. And yet the years of turmoil that have followed has left many Iraqis hankering days when the lights came on, the water ran and there were first-class hospitals in Baghdad. It will take more than a miraculous future rescue of trapped Iraqi oil workers to change the outside world's perception that Iraq remains a dangerous place, or that there is not another Saddam simply waiting in the wings.

And while Chile may have finally turned the page on Pinochet, there will always be those who long for the certainties and comparative security that frequently come with authoritarianism. Just as there are Muscovites who still parade with their Stalin banners in front of the Kremlin, or Beijing taxi drivers with their Chairman Mao pennants, there will be those who worship at the shrine of Pinochet. For those - the majority - who believe that, despite the failings of democratic institutions, real freedoms are worth battling for, the old maxim that "vigilance is the eternal price of freedom" is something worth hanging on to.

Oddly enough, that is a slogan that has often featured on miners' union banners the world over.

Mark Seddon is a former UN correspondent for Al Jazeera English TV and a UK political commentator

Singham Again

Director: Rohit Shetty

Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone

Rating: 3/5

The specs: 2019 Haval H6

Price, base: Dh69,900

Engine: 2.0-litre turbocharged four-cylinder

Transmission: Seven-speed automatic

Power: 197hp @ 5,500rpm

Torque: 315Nm @ 2,000rpm

Fuel economy, combined: 7.0L / 100km

MATCH INFO

Jersey 147 (20 overs) 

UAE 112 (19.2 overs)

Jersey win by 35 runs

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1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
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5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
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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.”

Company%20Profile
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Coal Black Mornings

Brett Anderson

Little Brown Book Group 

The rules on fostering in the UAE

A foster couple or family must:

  • be Muslim, Emirati and be residing in the UAE
  • not be younger than 25 years old
  • not have been convicted of offences or crimes involving moral turpitude
  • be free of infectious diseases or psychological and mental disorders
  • have the ability to support its members and the foster child financially
  • undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
  • A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
Brief scores:

Kashima Antlers 0

River Plate 4

Zuculini 24', Martinez 73', 90 2', Borre 89' (pen)

The%20specs%20
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White hydrogen: Naturally occurring hydrogenChromite: Hard, metallic mineral containing iron oxide and chromium oxideUltramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica contentOphiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on landOlivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour

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Power: 420bhp

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The specs

Engine: 4.0-litre V8 twin-turbocharged and three electric motors

Power: Combined output 920hp

Torque: 730Nm at 4,000-7,000rpm

Transmission: 8-speed dual-clutch automatic

Fuel consumption: 11.2L/100km

On sale: Now, deliveries expected later in 2025

Price: expected to start at Dh1,432,000

The specs

Engine: Direct injection 4-cylinder 1.4-litre
Power: 150hp
Torque: 250Nm
Price: From Dh139,000
On sale: Now

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Mario Benedetti, Penguin Modern Classics

 

Wicked: For Good

Director: Jon M Chu

Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater

Rating: 4/5

'Saand Ki Aankh'

Produced by: Reliance Entertainment with Chalk and Cheese Films
Director: Tushar Hiranandani
Cast: Taapsee Pannu, Bhumi Pednekar, Prakash Jha, Vineet Singh
Rating: 3.5/5 stars

Lexus LX700h specs

Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor

Power: 464hp at 5,200rpm

Torque: 790Nm from 2,000-3,600rpm

Transmission: 10-speed auto

Fuel consumption: 11.7L/100km

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Company Profile

Founders: Tamara Hachem and Yazid Erman
Based: Dubai
Launched: September 2019
Sector: health technology
Stage: seed
Investors: Oman Technology Fund, angel investor and grants from Sharjah's Sheraa and Ma'an Abu Dhabi