We are all only human - all of us besides politicians at least


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I have just returned from a few days in France, where I was blessed by lazy breakfasts, blue skies and undiluted sunshine. Best of all for a self-confessed news junkie, it gave my poor sizzled brain cells a few hours respite from the breaking headlines.

In the light of events in the British government this week, I imagine a couple of ministers would have welcomed the chance to accompany me to the Cote d'Azur. If nothing else, the chance to sit in dark sunglasses behind a newspaper in an anonymous European cafe would have been just what they needed.

One would surely have been Liam Fox, who resigned his post as UK defence secretary on Friday after a desperate (and ultimately fruitless) attempt to stave off professional ignominy following one of the more eccentric scandals of recent history.

Not for him the usual stuff of political intrigue, such as financial misdemeanours or illicit romance. Instead, Mr Fox had allowed an old friend (and best man at his wedding), a fellow named Adam Werritty, to accompany him on 19 official overseas trips. Indeed, so used to this jet-set lifestyle had Mr Werritty become that he had calling cards printed advertising himself as an "official adviser", although there was nothing official about him.

When I left for France on Tuesday, Mr Fox still had the full backing of his employer, Prime Minister David Cameron. But as we all know, whether in football or government, "full backing" is now an inevitable precursor to clearing out your desk a few days later.

Yet if you thought the case of the politician and his unpaid adviser was odd, it was soon to be followed by an even more baffling episode - that of the Conservative grandee and the disappearing documents.

The man in question, Oliver Letwin, was once tipped for high office. Indeed, there were many who reckoned that if only he could tone down his plummy vowels and shed a few kilos, he would have been a contender for party leader.

Alas, Mr Letwin's ascent of the greasy pole of politics stalled after the Conservatives' 2005 elections loss. A particularly damning critique came from a woman on the street interviewed by the BBC. When asked what she thought of Mr Letwin, she answered simply "twit" - and sadly the appellation stuck.

Six years later with his party in office, Mr Letwin was safely tucked away in a middle-ranking cabinet post, his reputation seemingly safe. But then on Thursday, a newspaper photographer captured Mr Letwin casually disposing of official government documents in a park litter bin on his way to work.

The images of Mr Letwin stuffing handfuls of important papers into a public bin seemed to confirm that woman's judgement so long ago. Not only did he look decidedly twittish, but following Mr Fox's inexplicable lapse, it has left Mr Cameron's government looking like a gallery of eccentrics and blunderers.

Indeed, one wag on Twitter has suggested that Mr Fox handed in his resignation letter to Mr Letwin on Tuesday, but the bin men only found it 72 hours later.

Yet the odd thing about both of these furores is the absence of any clear wrongdoing. Mr Fox may have shown a lack of judgement in allowing an old pal to swan around the world with him, but there is only the suggestion of impropriety; Mr Letwin has confirmed that none of the correspondence he discarded contained anything likely to compromise state security. Nonetheless, two hefty political careers have been mortally wounded.

I wonder if perhaps we are becoming too severe on what are essentially human frailties. Time was when ministers could get up to all sorts of nefarious activities without so much as a slap on the wrist. Now their every word and deed is recorded, scrutinised, and weighed in the balance. A single mistake and political oblivion is the result.

In any case, it's too easy to look for dark motives where none exists. I've never been privy to state secrets, but I can recall an occasion in my acting career when, having become frustrated by the director's silence during play rehearsals, I spied him writing furtively in a notepad. Desperate to see his innermost thoughts, I leapt from the stage, snatched the pad out of his hand and read what he had written.

His observations on my performance turned out to be less than inspiring. All he had written was "remember to buy potatoes".

Michael Simkins is an actor and writer based in London

SPECS
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Section 375

Cast: Akshaye Khanna, Richa Chadha, Meera Chopra & Rahul Bhat

Director: Ajay Bahl

Producers: Kumar Mangat Pathak, Abhishek Pathak & SCIPL

Rating: 3.5/5

TEACHERS' PAY - WHAT YOU NEED TO KNOW

Pay varies significantly depending on the school, its rating and the curriculum. Here's a rough guide as of January 2021:

- top end schools tend to pay Dh16,000-17,000 a month - plus a monthly housing allowance of up to Dh6,000. These tend to be British curriculum schools rated 'outstanding' or 'very good', followed by American schools

- average salary across curriculums and skill levels is about Dh10,000, recruiters say

- it is becoming more common for schools to provide accommodation, sometimes in an apartment block with other teachers, rather than hand teachers a cash housing allowance

- some strong performing schools have cut back on salaries since the pandemic began, sometimes offering Dh16,000 including the housing allowance, which reflects the slump in rental costs, and sheer demand for jobs

- maths and science teachers are most in demand and some schools will pay up to Dh3,000 more than other teachers in recognition of their technical skills

- at the other end of the market, teachers in some Indian schools, where fees are lower and competition among applicants is intense, can be paid as low as Dh3,000 per month

- in Indian schools, it has also become common for teachers to share residential accommodation, living in a block with colleagues

Indika
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Brief scores:

Arsenal 4

Xhaka 25', Lacazette 55', Ramsey 79', Aubameyang 83'

Fulham 1

Kamara 69'

Heather, the Totality
Matthew Weiner,
Canongate 

Profile

Name: Carzaty

Founders: Marwan Chaar and Hassan Jaffar

Launched: 2017

Employees: 22

Based: Dubai and Muscat

Sector: Automobile retail

Funding to date: $5.5 million

THURSDAY FIXTURES

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5.30pm: Egypt v Mexico (Group B)
6.45pm: UAE v Japan (Group A)
8pm: Iran v Russia (Group B)

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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.”

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Key findings
  • Over a period of seven years, a team of scientists analysed dietary data from 50,000 North American adults.
  • Eating one or two meals a day was associated with a relative decrease in BMI, compared with three meals. Snacks count as a meal. Likewise, participants who ate more than three meals a day experienced an increase in BMI: the more meals a day, the greater the increase. 
  • People who ate breakfast experienced a relative decrease in their BMI compared with “breakfast-skippers”. 
  • Those who turned the eating day on its head to make breakfast the biggest meal of the day, did even better. 
  • But scrapping dinner altogether gave the best results. The study found that the BMI of subjects who had a long overnight fast (of 18 hours or more) decreased when compared even with those who had a medium overnight fast, of between 12 and 17 hours.