A boy rides a bicycle through the streets of the Bashteel district of Imbaba.
A boy rides a bicycle through the streets of the Bashteel district of Imbaba.

And then Cairo turned itself inside out



As the megacity brims with informal settlements, the upper classes are leapfrogging over the urban perimeter for an escapist paradise of luxury desert property.

Ursula Lindsey

reports.

To drive Cairo's Ring Road - a 110-kilometre freeway that loops the city - is to sail through an endless sea of red brick. The brilliant green of the Nile Valley appears only in flashes through the expanse of cheap apartment blocks. The buildings occupy what were once agricultural parcels; like those parcels, they are long and narrow, with only a hair's breadth of space between them. They crowd right up to the freeway, so close that motorists may glance directly into their bare rooms. From their rooftops sprout unfinished supporting columns - ready for the addition of yet another floor. Their only decoration is bright, mismatched shutters; balconies enlivened by bold geometric patterns - pink and purple lozenges, green and orange stripes; and the bricks that spell, along the upper floors: "Allah."

These are Cairo's slums, what experts call its "informal" or "spontaneous" neighbourhoods. Egyptians call them ashwa'iyat - from the Arabic word for "random", "haphazard". They are the dense, sprawling answer to Cairo's population explosion and its lack of affordable housing. Almost six in 10 Cairenes - at least 10 million people - live in informal neighbourhoods, often with limited access to water, electricity, schools, hospitals or refuse collection, and no real roads.

Most capitals are magnets, but the speed with which the Egyptian one has grown in the last century is testament both to a remarkable centripetal power and to a surrounding vacuum of opportunity. Swelled by waves of rural migration, the population of greater Cairo has gone from less than one million at the beginning of the 20th century to about 18 million today - a megacity in the order of Mumbai or São Paulo, with more people than Lebanon, Jordan and Libya combined.

For centuries, Cairo's expansion has been checked by geography: the city is bounded by a narrow strip of fertile, Nile-irrigated land, with nothing but desert beyond. The migrants who flocked to the city in the last century found there was nowhere to live: they built shacks on rooftops; they made homes out of covered alleys, inner courtyards, and stairwells. Priced out of the soaring formal real estate market, they started building illegally - on the agricultural land that surrounds the city and on the barren plateau that separates it from the desert.

Cairo has long been on the verge of a nervous breakdown. The city teeters under the weight of its multitudes - its public services worn ragged; its air pollution among the worst in the world; its traffic barely managed by freeway overpasses and tunnels, clumsy last-minute bypass surgeries intended to repair its clogged and failing arteries. Faced with the city's barely contained chaos and alarmed by the growing slums, Cairo's elites have begun to dream of escape. Along the Ring Road, billboards advertise exclusive new private developments, with names like country clubs or bad discos - Utopia, Le Reve, Dreamland, Qattamiya Heights, Palm Hills, Belle Ville - and slogans like ""The Egypt of My Desires." One advertisement, overlooking dilapidated buildings in the centre of town, simply asks: "Why Are You Here?"

Cairo's future, it seems, lies outside the city's boundaries, in the desert - where it can be built from scratch. Today the outer edges of the city are one vast construction site, full of subdivisions where empty million-dollar villas stand among the sand dunes, and giant gated communities that promise a luxurious escape from Cairo's pollution and friction. What will be the effect of this flight on the city that's left behind? If Cairo's future is uncertain, its present is no easier to comprehend. "Perhaps today's greatest riddle is not so much 'Where is Cairo headed?'", notes the writer Maria Golia, "as 'Where is Cairo at all?'"

Somewhere between the dirt alleys of the slums and the golf courses of the gated suburbs; between the resourcefulness of millions of poor residents and the real estate speculation that has redefined the city's edges; between the fears that Cairo is becoming one giant "slum" and the fantasy of starting over - the Egyptian capital is taking shape once again.

Hoda Hanin, a 26-year-old teaching assistant, balances her six-month-old daughter on her hip as she heads down a narrow dirt alley to her parents' home in the slum of Bashteel. She grew up here, back when it was a village on the western bank of the Nile. "It was all farmland," she says, "then people started clearing it out, selling the land, building homes for their kids." Today, Bashteel and numerous other nearby villages have been absorbed into the crowded informal neighbourhood of Imbaba. The average density in Cairo is 90,000 people per square mile; in Imbaba, it's over 200,000, three times that of Manhattan. Imbaba's side-streets are unpaved and no more than two metres wide: narrow, endless crevasses between the red-brick buildings. Three-wheel tuk-tuks, imported from India, are the only vehicles capable of navigating the bumpy, rubbish-strewn paths. For decades, the Egyptian government willfully ignored the spread of the ashwa'iyat. The low-level officials who were supposed to enforce zoning and building laws took bribes to look the other way; on official maps of Cairo, these areas simply didn't exist. Under this regime of collusion and neglect, the slums grew and grew, providing the masses much-needed cheap housing and allowing the authorities to forgo providing services.

By the early 1990s, however, Cairo was forced to face its slums. The earthquake that struck the city in 1992 left thousands in the informal neighbourhoods homeless; since then fires and collapses have regularly put one slum or another on the front pages of local newspapers. At around the same time, the Islamist group Jama'a Islamiya took de facto control of Imbaba - creating what the foreign press quickly dubbed "the Islamic Republic of Imbaba". The government dispatched more than 12,000 soldiers to carry out a six-week siege, round up the Islamists, and reimpose its authority.

After regaining control of Imbaba, the government announced it would spend hundreds of millions of Egyptian pounds to - as one newspaper put it - "Transform Centers of Terrorism into a Civilised Area". The government set aside LE600 million (about $200m, or Dh402m) for slum upgrades, demolitions and relocations, and further plans for Imbaba are under way - to create more public housing, relocate thousands of street vendors, demolish some buildings and cut major new thoroughfares through the area.

Hoda thinks new, wider roads would be a great improvement. But like many residents here, her complaints about lack of services are tempered by her pride in how successfully, and civilly, Imbaba manages its own affairs. "The people here are real," she says, "they're good, country people." When on our way home we become stuck in traffic in one of Imbaba's many impassable intersections, she points to the neighbourhood men who are volunteering as impromptu traffic police: "See how they drop everything to help out." When I ask Hoda where else she might like to live, her eyes grow wide and she says emphatically: "No, no, no! I never want to live outside Imbaba. I know the people here. We're used to each other."

"The people in my street let you take pictures there because they trust that I won't let anyone give Imbaba a bad name," Hoda tells me, after my visit. "What will you write about Imbaba? Will you write good things?" Her anxiety over how her neighbourhood will be depicted by outsiders isn't surprising, given the tenor of most discussions of the ashwa'iyat. Hand-wringing over Cairo's slums has become a favourite habit of Egypt's policymakers, artists and public intellectuals. The Egyptian and pan-Arab press abounds with horrified descriptions of these supposedly irredeemable hellholes. An article in Dar Al Hayat newspaper offers a description that is typical in its tone of Victorian shock: the ashwai'yat, the author writes, "are neighbourhoods with no laws and no values and no fixed sources of livelihood - They are neighbourhoods with no peace and security, where crime, selling and taking drugs, prostitution, wanton sex from a young age, take place. Relations are stamped with gangsterism, fighting, revenge, and violence. It's a life without hope, vision, conviction, or the ability to change one's destiny."

More sympathetic depictions of the ashwa'iyat are often no less voyeuristic. A blockbuster 2007 film set in the slums, Hena Maysara, tells the melodramatic story of star-crossed lovers named Nahed and Adel; by the end of the film, Adel has become a gangster, Nahed a prostitute; their illegitimate child becomes a homeless teenage grifter. The slum they inhabit, taken over by extremists, is blown to smithereens in a fiery battle with the police.

The director, Khaled Youssef, called the film "a warning cry", but in scene after titillating scene of sex, violence and drug use, it gives the impression that the ashwai'yat don't contain a single law-abiding, gainfully employed resident. The Egyptian Ministry of Housing estimates there are 67 informal areas in Cairo. They range from truly dismal slums to lower-class neighbourhoods that are dense and under-serviced, but hardly dens of vice and desperation. Yet even as they use the ashwai'yat to mount a critique of the Mubarak government, many artists and intellectuals end up stigmatising these areas as dark, dangerous, and radically different places, which threaten the city's supposed order and culture.

"It's impossible to distinguish between what's ashwa'i and what's not, in Cairo," says Hamdi Abu Golayyel. Abu Golayyel lived in the slum of Manshiyat Nasr for six years, and described it as "a mongrel place, part village and part unplanned city fringe, destination of squatters and incomers" in his 2006 novel Thieves in Retirement. Abu Golayyel and I head there one night, in a taxi that speeds, for almost an hour and half, south along the Nile. Manshiyat Nasr ("Nasser's New Town") is in the industrial suburb of Helwan. It started as public housing for the workers in the nearby state-owned cement factories; but it soon overflowed into the surrounding countryside. A patch of palm trees, stranded between apartment buildings, conjures the fields that stood here just a few decades ago.

Abu Golayyel paid LE 100 a month (about $30, or Dh67 at the time) during his stay there, from 1995 to 2001. He waves towards the stocky little buildings, the small doors and cramped stairwells - these are "living spaces in the most basic sense," he says. "Spaces to eat and sleep." Manshiyat Nasr is a new slum, and it lacks Imbaba's self-confidence and cohesiveness. Abu Golayyel's sly, satirical novel depicts a world in which every basis for community is frayed and unstable. But in his novel the slum isn't the anti-city - it's the essence of the city.

"I don't understand what critics mean by the word 'marginalised,'" says Abu Golayyel, as we leave Manshiyat Nasr. He gestures around him: "This neighbourhood isn't any more marginalised than the rest of the city. People in Midan Tahrir," he says, mentioning Cairo's central square, "have no more power to make political decisions than people here. Mubarak is the core, and the rest of us are all marginalised."

"It's the future," the salesman beside me says matter-of-factly, as we drive across a grey and empty desert plateau, 40km outside Cairo. We've finally reached the outer edge of the seemingly endless belt of construction that surrounds the city. Here lies Madinaty ("My city"), an enormous planned gated community, the brainchild of the disgraced tycoon Talaat Mustafa - once close to the Mubarak family, now appealing a death sentence for the hit he ordered on his Lebanese pop singer girlfriend. Madinaty is designed to house 500,000 people, as well as hospitals, universities, malls and a water park. The developer's website calls it "the biggest all-inclusive enclosed city in the Middle East." Renditions of the city feature palm-dotted lawns, man-made lagoons, glistening office towers, spotless shopping arcades.

The Egyptian government has long been convinced - since the early 1960s - that the solution to Cairo's ills lie in expansion beyond its borders. Back then, however, it was the government that did the developing, erecting a series of self-sufficient blue-collar desert cities that drew disproportionate subsidies but attracted few residents. In line with Egypt's latter-day rapprochement with capitalism, the Mubarak government has taken a drastically different approach, turning over the colonisation of the desert to the forces of private enterprise, selling off vast swaths of state land to developers.

Frenzied real-estate speculation has continued to drive development on Cairo's outskirts: houses and apartments in the new cities are sold and resold many times over before they're even built. My salesman, it turns out, lives in another new development called Dreamland, but he also bought an apartment in Madinaty "as an investment"; in the few years since his purchase, it has already doubled in value. So many people have purchased "investment" properties that, in a city with a severe housing shortage, an estimated million apartments sit empty.

We pass the security checkpoint and enter Madinaty's endless, sweeping driveway. Its main gate is the size of the Arc de Triomphe. The architecture of the duplexes, town houses and apartment buildings inside is internationally bland and rigidly repetitive: red-tiled gables, sun patios, sliding glass doors. The two-bedroom apartments here will set you back Dh370,000; the grand and bland villas cost close to a Dh3.7m.

But what's here so far is nothing compared to what is coming. I look out towards the horizon at a construction site the size of, well, a small city - row upon row of buildings, rising from the sand like a pastel mirage. The salesman notes the clean, bracing breeze. Madinaty is on a desert plateau, almost 300 metres above Cairo. Water from the Nile will have to be pumped all the way up and out here - as to all the new cities - by state-built infrastructure. Electricity and roads - a second ring road is now being planned - will also be provided by the New Urban Communities Administration, which has just issued an LE 10bn (Dh6.7bn) bond to fund its efforts.

Relocating Cairo's wealthier residents will not alleviate the crowding and poverty they leave behind. Though Imbaba has now been "pacified", across enormous tranches of the city the state is still regarded as an unwelcome interloper, and anger is never far from the surface. When a cliff collapsed in the dismal slum of Duwaiqa, in 2008, killing 60 people and destroying 35 houses, emergency vehicles took hours to arrive. The authorities seemed more concerned with sealing off the area to journalists and aid workers than helping distraught residents who had been digging for their relatives with their bare hands. Then bulldozers arrived to demolish 1,000 homes at risk of collapse. Furious residents threw volleys of stones at the bulldozers and the governor's convoy. They compared themselves to Palestinians under Israeli occupation. One columnist in an opposition newspaper wrote of "The Intifada of the ashwa'iyat".

The new enclaves in the desert promise protection from such tensions. A friend knows a lady who bought a home in one of the new private developments. Her house was in the outer row, not far from a nearby public housing project. She decided to switch to a house nearer the centre - because, she said, "when those people rise up," she didn't want to be in the front line.

The slums are most often referred to as a "cancer" - and by that analogy, Cairo is already a terminal case. And the better off residents of this supposedly dying city have embraced the new developments as a sort of miracle cure. I catch a glimpse of their enthusiasm at a five-star hotel overlooking the Nile, where a fashionable crowd - the men in suits, the women in slinky black dresses, not a headscarf in sight - nibbles on canapés while a jazz band plays in the background. I'm attending a reception organised by the real-estate developers SODIC and SOLIDERE to promote their new development, WestTown, located in the desert on the opposite side of Cairo from Madinaty.

I ask a salesman if business has slowed due to the global recession. He assures me that almost all the 175 units on sale - high-end apartments with whirlpools and teak floors, which can be customised in one of three styles: "Urban Chic," "Natural Zen" and "Modern Islamic" - have been snapped up. Guests take turns huddling around a maquette of the development. A projector has been mounted on the ceiling above, to create little virtual future residents, driving their cars down traffic-free, palm-lined streets, eating lunch in the cafes of the (closed-circuit-TV-monitored) plaza and diving into the rooftop pools. It is a projection of a perfect life, and it could be taking place anywhere.

Such pristine, self-sufficient communities are in fact a global phenomenon. But in a city where until recently everyone has been forced to endure close quarters, it is a new development. If, in the next few decades, the enclaves in the desert are populated by Cairo's upper classes, this will represent what one expert on the Egyptian capital calls "a radical reformulation of Cairo's urban landscape."

Modern Cairo came into being, 150 years ago, with another "reformulation", one that bears some striking resemblances to what's going on today. In the 1860s, Egypt's ruler, Khedive Ismail, grafted a European façade onto his capital, hoping to impress the foreign dignitaries invited to the opening ceremonies of the Suez Canal. A western downtown, complete with an opera house, public gardens, and wide Parisian-style avenues, was erected in the span of a few frantic years.

Ironically, the cost of these public works contributed to Egypt's bankruptcy and led to the 70-year-long British occupation that would follow. Ismail showed off, then lost the country; but the district he established flourished, attracting the upper classes and the first modern government services. The nearby medieval core of the city, meanwhile, was increasingly seen as a dirty, disorderly relic of the past.

For most of the 20th century, the fault line between these two worlds - foreign and local, modern and "backward", rich and poor - dominated the real and imaginative landscape of the city. What the anthropologist Janet Abu Lughod has called the "rent in the social fabric" of Cairo featured prominently in work of great Egyptian writers such as Naguib Mahfouz and Youssef Idris. But in 20th-century Cairo, the new and the old city were contiguous, and crossing from one to the other was a fraught but relatively common journey. Today, as spatial segregation and social inequality increase, a much greater chasm seems to be opening.

Or perhaps it would be better described as a vacuum, for Cairo risks becoming a city where no one belongs - a place where the lower classes are blamed for their own disenfranchisement, and from which the upper classes are eager to secede. The preoccupation with the slums shows the malaise most Cairenes feel over the way their city has drifted, seemingly rudderless, over the last half-century. To stigmatise the ashwai'yat for their poverty and their supposed chaos is politically convenient, but to bemoan them as the apocalyptic end of Egypt's urban civilisation is far-fetched. The slums of Cairo are the visible symptoms of the shortage and misdirection of Egypt's resources, of the limits of public oversight, interest and authority. They're the best that most of Cairo's residents - left largely to their own devices - have been able to come up with.

The fantasy that leads into the desert and the hysteria over the slums are two sides of the same coin, each one the sign of a deep unease over Cairo's future and a desire to avoid confronting its present. In the escapism of the gated cities and the horror over the ragged lower-class neighborhoods, after all, there is the same whiff of denial - of a city eager, at least for the time being, to stick its head in the sand.

Ursula Lindsey is a freelance journalist based in Cairo, and writes the culture blog The Arabist Review.

While you're here
Closing the loophole on sugary drinks

As The National reported last year, non-fizzy sugared drinks were not covered when the original tax was introduced in 2017. Sports drinks sold in supermarkets were found to contain, on average, 20 grams of sugar per 500ml bottle.

The non-fizzy drink AriZona Iced Tea contains 65 grams of sugar – about 16 teaspoons – per 680ml can. The average can costs about Dh6, which would rise to Dh9.

Drinks such as Starbucks Bottled Mocha Frappuccino contain 31g of sugar in 270ml, while Nescafe Mocha in a can contains 15.6g of sugar in a 240ml can.

Flavoured water, long-life fruit juice concentrates, pre-packaged sweetened coffee drinks fall under the ‘sweetened drink’ category
 

Not taxed:

Freshly squeezed fruit juices, ground coffee beans, tea leaves and pre-prepared flavoured milkshakes do not come under the ‘sweetened drink’ band.

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills

Director: Laxman Utekar

Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna

Rating: 1/5

Famous left-handers

- Marie Curie

- Jimi Hendrix

- Leonardo Di Vinci

- David Bowie

- Paul McCartney

- Albert Einstein

- Jack the Ripper

- Barack Obama

- Helen Keller

- Joan of Arc

ONCE UPON A TIME IN GAZA

Starring: Nader Abd Alhay, Majd Eid, Ramzi Maqdisi

Directors: Tarzan and Arab Nasser

Rating: 4.5/5

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EXPATS
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Lulu%20Wang%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Nicole%20Kidman%2C%20Sarayu%20Blue%2C%20Ji-young%20Yoo%2C%20Brian%20Tee%2C%20Jack%20Huston%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
Who has been sanctioned?

Daniella Weiss and Nachala
Described as 'the grandmother of the settler movement', she has encouraged the expansion of settlements for decades. The 79 year old leads radical settler movement Nachala, whose aim is for Israel to annex Gaza and the occupied West Bank, where it helps settlers built outposts.

Harel Libi & Libi Construction and Infrastructure
Libi has been involved in threatening and perpetuating acts of aggression and violence against Palestinians. His firm has provided logistical and financial support for the establishment of illegal outposts.

Zohar Sabah
Runs a settler outpost named Zohar’s Farm and has previously faced charges of violence against Palestinians. He was indicted by Israel’s State Attorney’s Office in September for allegedly participating in a violent attack against Palestinians and activists in the West Bank village of Muarrajat.

Coco’s Farm and Neria’s Farm
These are illegal outposts in the West Bank, which are at the vanguard of the settler movement. According to the UK, they are associated with people who have been involved in enabling, inciting, promoting or providing support for activities that amount to “serious abuse”.

LILO & STITCH

Starring: Sydney Elizebeth Agudong, Maia Kealoha, Chris Sanders

Director: Dean Fleischer Camp

Rating: 4.5/5

MATCH INFO

Uefa Champions League quarter-final second leg:

Juventus 1 Ajax 2

Ajax advance 3-2 on aggregate

MWTC

Tickets start from Dh100 for adults and are now on sale at www.ticketmaster.ae and Virgin Megastores across the UAE. Three-day and travel packages are also available at 20 per cent discount.

F1 2020 calendar

March 15 - Australia, Melbourne; March 22 - Bahrain, Sakhir; April 5 - Vietnam, Hanoi; April 19 - China, Shanghai; May 3 - Netherlands, Zandvoort; May 20 - Spain, Barcelona; May 24 - Monaco, Monaco; June 7 - Azerbaijan, Baku; June 14 - Canada, Montreal; June 28 - France, Le Castellet; July 5 - Austria, Spielberg; July 19 - Great Britain, Silverstone; August 2 - Hungary, Budapest; August 30 - Belgium, Spa; September 6 - Italy, Monza; September 20 - Singapore, Singapore; September 27 - Russia, Sochi; October 11 - Japan, Suzuka; October 25 - United States, Austin; November 1 - Mexico City, Mexico City; November 15 - Brazil, Sao Paulo; November 29 - Abu Dhabi, Abu Dhabi.

 

 

 

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%3Cp%3E%3Cstrong%3EDirectors%3A%3C%2Fstrong%3E%20Amit%20Joshi%20and%20Aradhana%20Sah%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECast%3A%3C%2Fstrong%3E%20Shahid%20Kapoor%2C%20Kriti%20Sanon%2C%20Dharmendra%2C%20Dimple%20Kapadia%2C%20Rakesh%20Bedi%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A

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.”

UK-EU trade at a glance

EU fishing vessels guaranteed access to UK waters for 12 years

Co-operation on security initiatives and procurement of defence products

Youth experience scheme to work, study or volunteer in UK and EU countries

Smoother border management with use of e-gates

Cutting red tape on import and export of food

First Person
Richard Flanagan
Chatto & Windus 

At a glance

Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.

 

Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year

 

Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month

 

Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30 

 

Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse

 

Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth

 

Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances

PROFILE

Name: Enhance Fitness 

Year started: 2018 

Based: UAE 

Employees: 200 

Amount raised: $3m 

Investors: Global Ventures and angel investors 

UK's plans to cut net migration

Under the UK government’s proposals, migrants will have to spend 10 years in the UK before being able to apply for citizenship.

Skilled worker visas will require a university degree, and there will be tighter restrictions on recruitment for jobs with skills shortages.

But what are described as "high-contributing" individuals such as doctors and nurses could be fast-tracked through the system.

Language requirements will be increased for all immigration routes to ensure a higher level of English.

Rules will also be laid out for adult dependants, meaning they will have to demonstrate a basic understanding of the language.

The plans also call for stricter tests for colleges and universities offering places to foreign students and a reduction in the time graduates can remain in the UK after their studies from two years to 18 months.

Countdown to Zero exhibition will show how disease can be beaten

Countdown to Zero: Defeating Disease, an international multimedia exhibition created by the American Museum of National History in collaboration with The Carter Center, will open in Abu Dhabi a  month before Reaching the Last Mile.

Opening on October 15 and running until November 15, the free exhibition opens at The Galleria mall on Al Maryah Island, and has already been seen at the Jimmy Carter Presidential Library and Museum in Atlanta, the American Museum of Natural History in New York, and the London School of Hygiene and Tropical Medicine.

 

Specs

Engine: Dual-motor all-wheel-drive electric

Range: Up to 610km

Power: 905hp

Torque: 985Nm

Price: From Dh439,000

Available: Now

BMW M5 specs

Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor

Power: 727hp

Torque: 1,000Nm

Transmission: 8-speed auto

Fuel consumption: 10.6L/100km

On sale: Now

Price: From Dh650,000

2025 Fifa Club World Cup groups

Group A: Palmeiras, Porto, Al Ahly, Inter Miami.

Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.

Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.

Group D: Flamengo, ES Tunis, Chelsea, (Leon banned).

Group E: River Plate, Urawa, Monterrey, Inter Milan.

Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.

Group G: Manchester City, Wydad, Al Ain, Juventus.

Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.

FIGHT INFO

Men’s 60kg Round 1:

Ahmad Shuja Jamal (AFG) beat Krisada Takhiankliang (THA) - points 
Hyan Aljmyah (SYR) beat Akram Alyminee (YEM) - retired Round 1
Ibrahim Bilal (UAE) beat Bhanu Pratap Pandit (IND) - TKO Round 1

Men’s 71kg Round 1:
Seyed Kaveh Soleyman (IRI) beat Abedel Rahman (JOR) - RSC round 3.
Amine Al Moatassime (UAE) walk over Ritiz Puri (NEP)

CHATGPT%20ENTERPRISE%20FEATURES
%3Cp%3E%E2%80%A2%20Enterprise-grade%20security%20and%20privacy%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Unlimited%20higher-speed%20GPT-4%20access%20with%20no%20caps%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Longer%20context%20windows%20for%20processing%20longer%20inputs%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Advanced%20data%20analysis%20capabilities%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Customisation%20options%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Shareable%20chat%20templates%20that%20companies%20can%20use%20to%20collaborate%20and%20build%20common%20workflows%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Analytics%20dashboard%20for%20usage%20insights%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Free%20credits%20to%20use%20OpenAI%20APIs%20to%20extend%20OpenAI%20into%20a%20fully-custom%20solution%20for%20enterprises%3C%2Fp%3E%0A
Profile

Company: Libra Project

Based: Masdar City, ADGM, London and Delaware

Launch year: 2017

Size: A team of 12 with six employed full-time

Sector: Renewable energy

Funding: $500,000 in Series A funding from family and friends in 2018. A Series B round looking to raise $1.5m is now live.

The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat