RAS AL KHAIMAH // Kaltham al Tamimi's home is a struggle to find.
The Emirati - she does not know her age, but says she is older than 70 - lives inside a labyrinthine district in RAK, filled with small shops and bare villas. Shabeyat Tunb was built to house many of the families evicted from their homes in Greater Tunb by Iranian forces on the eve of the UAE's independence in 1971.
The tranquillity of the area is a striking contrast to that harrowing night nearly 40 years ago, the heroics and tragedies of which Mrs al Tamimi remembers vividly.
"They took Tunb away by force," she says.
Sleepy residents were waking up for the fajr prayers and boats carrying the island's fishermen, who would go to sell their catch in the afternoon in Dubai, were getting ready to leave.
"We saw lights, and planes, and those things that move on the ground," she says, referring to armoured vehicles the Iranians carried on their ships. "We hadn't even seen cars before."
Mrs al Tamimi was at home with her family when soldiers rushed in, demanding that they leave.
"We left, my father, our family all left within the hour," she says.
She reckons that the soldiers were looking for weapons, but, if so, their search was for nothing.
"Where would we get the weapons from? What would we do with them?" she asks. "Tunb was the land of safety."
It is a sentiment that punctuates much of her recollection of the island, now permanently scarred by the "fearful" six-hour boat ride to RAK, where Sheikh Saqr bin Mohammed, the emirate's Ruler, and his sons, Sheikhs Khaled and Sultan, were waiting for the families.
"We only came here with the clothes that were on us and nothing else. We left all our belongings, our money, our sheep," says Mrs al Tamimi.
Sheikh Saqr built temporary homes for Tunb's evicted residents, later creating the neighbourhood of Shabeyat Tunb, which was twice rebuilt. Mrs al Tamimi, whose husband, now dead, served tea at the emirate's Kuwait Hospital, receives a government stipend of Dh2,200 monthly for herself, and another one for her son, who has a mental disability. She lives in a two-storey villa.
Many of the men have died and Tunb's memory is in peril. Mrs al Tamimi has two sons and two daughters, only one of whom still lives in Shabeyat Tunb.
"The children didn't understand, not like us. They don't remember, we teach them," she says. "But the children are all gone, all the youngsters have scattered."
Though the children may not want to go back, Mrs al Tamimi is adamant that she would return if the islands were back in Emirati hands.
"I would not forget my country. I would not forget Greater Tunb until I die. All of us old people would never forget Tunb island," she says.
But little remains of the Tunb that Mrs al Tamimi remembers, because even as she was rushed into the boats with her children, the occupation was already taking its toll.
"They destroyed the school, they destroyed the Sheikh's home. They didn't leave anything," she says.
The human cost was manifested in the story of the newlywed Salem Suhail, the operation's only casualty and one of six Emirati policemen stationed on the island.
For the likes of Mrs al Tamimi, his story is the stuff of legend.
Suhail refused to lower the UAE flag when he was told to do so by the Iranians. When he refused to relinquish his position, he was shot.
"Everyone knows him," says Mrs al Tamimi. "Our men buried him."
Her other recollections are less dramatic. They paint the portrait of a small town, homely and unperturbed. "Our land was the land of safety," she repeats.
The men would wake at dawn, fish until noon, then return for a nap. Then, they would sail to Dubai, where they would sell the catch.
The women also provided for the household. After making breakfast, they would trek inland, chopping and collecting timber. Back home, they would cook and bake for the family and milk the cows.
In the summer, they would escape the summer heat in a wooden lodging, shaded by palm trees.
Most of the time, it was quiet. With one exception.
"Oh Allah, the weddings in Tunb," says Mrs al Tamimi. "They would play the drums for seven days straight."
But even that has changed.
"The dowry used to be Dh500. Now the dowries are in the thousands," she says.
The island's 40 homes were the domains of a few large families like the house of al Tamimi.
There was a single school, with three teachers, that housed about 30 pupils, boys and girls.
Mrs al Tamimi was born on Tunb, but had no formal education beyond memorising the Quran. Her two daughters were in school when they were evicted from the island. They did not complete that school year.
Mrs al Tamimi misses everything back home. "If it is returned to the UAE, we would return," she says.
@Email:kshaheen@thenational.ae
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The specs
Engine: Dual 180kW and 300kW front and rear motors
Power: 480kW
Torque: 850Nm
Transmission: Single-speed automatic
Price: From Dh359,900 ($98,000)
On sale: Now
HAEMOGLOBIN DISORDERS EXPLAINED
Thalassaemia is part of a family of genetic conditions affecting the blood known as haemoglobin disorders.
Haemoglobin is a substance in the red blood cells that carries oxygen and a lack of it triggers anemia, leaving patients very weak, short of breath and pale.
The most severe type of the condition is typically inherited when both parents are carriers. Those patients often require regular blood transfusions - about 450 of the UAE's 2,000 thalassaemia patients - though frequent transfusions can lead to too much iron in the body and heart and liver problems.
The condition mainly affects people of Mediterranean, South Asian, South-East Asian and Middle Eastern origin. Saudi Arabia recorded 45,892 cases of carriers between 2004 and 2014.
A World Health Organisation study estimated that globally there are at least 950,000 'new carrier couples' every year and annually there are 1.33 million at-risk pregnancies.
UAE currency: the story behind the money in your pockets
The Outsider
Stephen King, Penguin
The biog
DOB: 25/12/92
Marital status: Single
Education: Post-graduate diploma in UAE Diplomacy and External Affairs at the Emirates Diplomatic Academy in Abu Dhabi
Hobbies: I love fencing, I used to fence at the MK Fencing Academy but I want to start again. I also love reading and writing
Lifelong goal: My dream is to be a state minister
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The%20specs
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Killing of Qassem Suleimani
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
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.”
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Retail gloom
Online grocer Ocado revealed retail sales fell 5.7 per cen in its first quarter as customers switched back to pre-pandemic shopping patterns.
It was a tough comparison from a year earlier, when the UK was in lockdown, but on a two-year basis its retail division, a joint venture with Marks&Spencer, rose 31.7 per cent over the quarter.
The group added that a 15 per cent drop in customer basket size offset an 11.6. per cent rise in the number of customer transactions.
The specs
Engine: Direct injection 4-cylinder 1.4-litre
Power: 150hp
Torque: 250Nm
Price: From Dh139,000
On sale: Now
TRAP
Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue
Director: M Night Shyamalan
Rating: 3/5
Results
2pm: Al Sahel Contracting Company – Maiden (PA) Dh50,000 (Dirt) 1,200m; Winner: AF Mutakafel, Tadhg O’Shea (jockey), Ernst Oertel (trainer)
2.30pm: Dubai Real Estate Centre – Maiden (TB) Dh60,000 (D) 1,200m; Winner: El Baareq, Antonio Fresu, Rashed Bouresly
3pm: Shadwell – Rated Conditions (TB) Dh100,000 (D) 1,950m; Winner: Lost Eden, Andrea Atzeni, Doug Watson
3.30pm: Keeneland – Handicap (TB) Dh84,000 (D) 1,000m; Winner: Alkaraama, Dane O’Neill, Musabah Al Muhairi
4pm: Keeneland – Handicap (TB) Dh76,000 (D) 1,800m; Winner: Lady Snazz, Saif Al Balushi, Bhupat Seemar
4.30pm: Hive – Conditions (TB) Dh100,000 (D) 1,600m; Winner: Down On Da Bayou, Royston Ffrench, Salem bin Ghadayer
5pm: Dubai Real Estate Centre – (TB) Handicap Dh64,000 (D) 1,600m; Winner: Lahmoom, Royston Ffrench, Salem bin Ghadayer
The specs: Lamborghini Aventador SVJ
Price, base: Dh1,731,672
Engine: 6.5-litre V12
Gearbox: Seven-speed automatic
Power: 770hp @ 8,500rpm
Torque: 720Nm @ 6,750rpm
Fuel economy: 19.6L / 100km
Surianah's top five jazz artists
Billie Holliday: for the burn and also the way she told stories.
Thelonius Monk: for his earnestness.
Duke Ellington: for his edge and spirituality.
Louis Armstrong: his legacy is undeniable. He is considered as one of the most revolutionary and influential musicians.
Terence Blanchard: very political - a lot of jazz musicians are making protest music right now.
Dark Souls: Remastered
Developer: From Software (remaster by QLOC)
Publisher: Namco Bandai
Price: Dh199
More from Aya Iskandarani
The specs
Engine: 3-litre twin-turbo V6
Power: 400hp
Torque: 475Nm
Transmission: 9-speed automatic
Price: From Dh215,900
On sale: Now
COMPANY%20PROFILE
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More coverage from the Future Forum
Squid Game season two
Director: Hwang Dong-hyuk
Stars: Lee Jung-jae, Wi Ha-joon and Lee Byung-hun
Rating: 4.5/5
Brief scoreline
Switzerland 0
England 0
Result: England win 6-5 on penalties
Man of the Match: Trent Alexander-Arnold (England)
The specs
Engine: 1.6-litre 4-cyl turbo and dual electric motors
Power: 300hp at 6,000rpm
Torque: 520Nm at 1,500-3,000rpm
Transmission: 8-speed auto
Fuel consumption: 8.0L/100km
Price: from Dh199,900
On sale: now
MATCH INFO
Chelsea 1
Alonso (62')
Huddersfield Town 1
Depoitre (50')
UAE currency: the story behind the money in your pockets