Demonstrators listen to a speaker at Madrid's Plaza Dos de Mayo May 28, 2011. Tens of thousands of protesters have joined those camped out for the past fourteen days at Madrid's Puerta del Sol, to protest against the government's handling of an economic crisis which broke out in 2008. REUTERS/Andrea Comas (SPAIN - Tags: CIVIL UNREST ELECTIONS POLITICS BUSINESS) *** Local Caption *** ACO12_SPAIN-ELECTIO_0528_11.JPG
Demonstrators listen to a speaker at Madrid's Plaza Dos de Mayo May 28, 2011. Tens of thousands of protesters have joined those camped out for the past fourteen days at Madrid's Puerta del Sol, to proShow more

Spain misses out on most lessons of Arab spring



MADRID // A single misspelled sign in Arabic proclaiming revolution flutters amid all the others in Spanish demanding everything from world peace to social justice on a large wall in Madrid's central Puerta del Sol square.

It neatly sums up the relationship between the ragtag band of protesters who have kept the square occupied for the past two weeks and the uprisings in the Arab world: slight and a bit uninformed.

"Of course many of us had a lot of sympathy with the Arab revolutions and it is close in time," said Ivan Martinoz, a spokesman for the protesters, who say that they have no clearly-defined leadership. But mention of the Arab uprisings as often as not draws a blank stare, and Mr Martinoz said that there were many different inspirations. "We looked at Iceland, for example. That was a great inspiration, how the people in such a small country rose up twice and threw out the government because they did not want to pay for the debt of the banks," said Mr Martinoz, a 37-year old audio-visual producer.

Europeans, the young in particular, are just now waking up to the jarring consequences of years of austerity after the 2008 financial crisis. In Spain, unemployment has rocketed to some 21 per cent of the population overall and more than 30 per cent among the under-30s.

Add to that dissatisfaction with what is seen as an ossified and unresponsive political class in many countries, a housing crisis as people lose homes they can no longer afford, and a growing gap between rich and poor and there lies a recipe for a hot European summer.

Yesterday the protests in Spain spread to more localities. And last Wednesday, the Spanish-style protests spread to Greece, one of the countries hardest hit by the crisis. Groups from Italy to northern Europe's more economically stable outposts such as the Netherlands, have announced "take the square" actions that echo the spirit of Tahrir square.

But many observers doubt that this will translate into a truly revolutionary movement. Simon Tucker, involved in social innovation at the Young Foundation in the UK, said at a recent gathering of social and new media activists that, "there will not be an explosion in the UK for now, there is not the same anger as in Greece and Spain. People are still relatively comfortable". But he does credit the Arab uprisings with helping young Europeans to overcome "a sense of boredom and alienation".

The protesters in Spain like to fashion themselves as revolutionaries and employ the language of the international antiglobalisation movement as well as left-wing and environmental groups. But there is no hard-core, militant youth in evidence in the Puerta del Sol and non-violence is emphasised at every turn.

The highly organised encampment resembles nothing as much as an easy-going, European summer pop music festival. It is a seemingly happy mix of guitar playing, travelling hippies and young to middle-aged professionals who provide the intellectual backbone.

While they acknowledge the differences with the Arab revolutions, such as the fact they have more freedom and are better off than the people in Egypt and Tunisia, some feel that they are also involved in a real uprising. "We are facing two dictators, not one. The two parties that always govern here are both controlled by the bankers," says Pepe Mora, a 31-year old cinema special-effects artist who lives in London because he cannot find work in Spain. He returned to Madrid and went to Puerta del Sol the day after the demonstrations started.

Such sentiments do not translate easily into a political programme and the protesters are struggling to come up with one. Jose Ignacio Torreblanca, who heads the Madrid office of the European Council on Foreign Relations says that this is a main difference from the Arab uprisings, where the initial goal was clear.

"Probably in Spain they have underestimated the extent to which Arab revolutions were more than getting together through Facebook. Because the experience here in Madrid is that these people are finding enormous problems to move beyond just gathering together," said Mr Torreblanca.

In fact, even the Facebook and social media aspect of the demonstrations seems to be different from what happened in the Arab world, where it was used out of necessity because other avenues were closed. One internet activist at Puerta del Sol said that his group had not studied the use of the internet in Egypt or Tunisia.

Such unfamiliarity with the details of the Arab uprisings is typical, says Lurdes Vidal at the European Institute of the Mediterranean in Barcelona. People have very little idea of conditions across the region.

More worryingly, sympathy with the Arab spring often does not extend to situations closer to home. "The uprisings in Arab world have given a new sense of dignity and honour, a positive fact in the eyes of the European, Western population but, at the same time, we have an internal debate on immigration, especially now with the economic crisis, and this has been very damaging."

Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home. 

Seemar’s top six for the Dubai World Cup Carnival:

1. Reynaldothewizard
2. North America
3. Raven’s Corner
4. Hawkesbury
5. New Maharajah
6. Secret Ambition

Bridgerton season three - part one

Directors: Various

Starring: Nicola Coughlan, Luke Newton, Jonathan Bailey

Rating: 3/5

SERIE A FIXTURES

All times UAE (+4 GMT)

Saturday
Roma v Udinese (5pm)
SPAL v Napoli (8pm)
Juventus v Torino (10.45pm)

Sunday
Sampdoria v AC Milan (2.30pm)
Inter Milan v Genoa (5pm)
Crotone v Benevento (5pm)
Verona v Lazio (5pm)
Cagliari v Chievo (5pm)
Sassuolo v Bologna (8pm)
Fiorentina v Atalanta (10.45pm)

TWISTERS

Director:+Lee+Isaac+Chung

Starring:+Glen+Powell,+Daisy+Edgar-Jones,+Anthony+Ramos

Rating:+2.5/5

Squads

Sri Lanka Tharanga (c), Mathews, Dickwella (wk), Gunathilaka, Mendis, Kapugedera, Siriwardana, Pushpakumara, Dananjaya, Sandakan, Perera, Hasaranga, Malinga, Chameera, Fernando.

India Kohli (c), Dhawan, Rohit, Rahul, Pandey, Rahane, Jadhav, Dhoni (wk), Pandya, Axar, Kuldeep, Chahal, Bumrah, Bhuvneshwar, Thakur.

LOVE AGAIN

Director: Jim Strouse

Stars: Priyanka Chopra Jonas, Sam Heughan, Celine Dion

Rating: 2/5

Nepotism is the name of the game

Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad. 

INDIA'S TOP INFLUENCERS

Bhuvan Bam
Instagram followers: 16.1 million
Bhuvan Bam is a 29-year-old comedian and actor from Delhi, who started out with YouTube channel, “BB Ki Vines” in 2015, which propelled the social media star into the limelight and made him sought-after among brands.
Kusha Kapila
Instagram followers: 3.1 million
Kusha Kapila is a fashion editor and actress, who has collaborated with brands including Google. She focuses on sharing light-hearted content and insights into her life as a rising celebrity.
Diipa Khosla
Instagram followers: 1.8 million
Diipa Khosla started out as a social media manager before branching out to become one of India's biggest fashion influencers, with collaborations including MAC Cosmetics.
Komal Pandey
Instagram followers: 1.8 million
Komal Pandey is a fashion influencer who has partnered with more than 100 brands, including Olay and smartphone brand Vivo India.
Nikhil Sharma
Instagram followers: 1.4 million
Nikhil Sharma from Mumbai began his online career through vlogs about his motorcycle trips. He has become a lifestyle influencer and has created his own clothing line.
Source: Hireinfluence, various

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.”

Tell-tale signs of burnout

- loss of confidence and appetite

- irritability and emotional outbursts

- sadness

- persistent physical ailments such as headaches, frequent infections and fatigue

- substance abuse, such as smoking or drinking more

- impaired judgement

- excessive and continuous worrying

- irregular sleep patterns

 

Tips to help overcome burnout

Acknowledge how you are feeling by listening to your warning signs. Set boundaries and learn to say ‘no’

Do activities that you want to do as well as things you have to do

Undertake at least 30 minutes of exercise per day. It releases an abundance of feel-good hormones

Find your form of relaxation and make time for it each day e.g. soothing music, reading or mindful meditation

Sleep and wake at the same time every day, even if your sleep pattern was disrupted. Without enough sleep condition such as stress, anxiety and depression can thrive.

match info

Union Berlin 0

Bayern Munich 1 (Lewandowski 40' pen, Pavard 80')

Man of the Match: Benjamin Pavard (Bayern Munich)

Other simple ideas for sushi rice dishes

Cheat’s nigiri 
This is easier to make than sushi rolls. With damp hands, form the cooled rice into small tablet shapes. Place slices of fresh, raw salmon, mackerel or trout (or smoked salmon) lightly touched with wasabi, then press, wasabi side-down, onto the rice. Serve with soy sauce and pickled ginger.

Easy omurice
This fusion dish combines Asian fried rice with a western omelette. To make, fry cooked and cooled sushi rice with chopped vegetables such as carrot and onion and lashings of sweet-tangy ketchup, then wrap in a soft egg omelette.

Deconstructed sushi salad platter 
This makes a great, fuss-free sharing meal. Arrange sushi rice on a platter or board, then fill the space with all your favourite sushi ingredients (edamame beans, cooked prawns or tuna, tempura veggies, pickled ginger and chilli tofu), with a dressing or dipping sauce on the side.

FROM THE ASHES

Director: Khalid Fahad

Starring: Shaima Al Tayeb, Wafa Muhamad, Hamss Bandar

Rating: 3/5

COMPANY PROFILE

Name: Haltia.ai
Started: 2023
Co-founders: Arto Bendiken and Talal Thabet
Based: Dubai, UAE
Industry: AI
Number of employees: 41
Funding: About $1.7 million
Investors: Self, family and friends


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