Thilo Sarrazin at the presentation of his new book 'Hostile Takeover'. EPA
Thilo Sarrazin at the presentation of his new book 'Hostile Takeover'. EPA
Thilo Sarrazin at the presentation of his new book 'Hostile Takeover'. EPA
Thilo Sarrazin at the presentation of his new book 'Hostile Takeover'. EPA

Book sparks new controversy over anti-Islamic hate-mongering in Germany


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Thilo Sarrazin is neither a scholar of Islam or a student of Arabic. He is not an evolutionary biologist or a demography expert. Yet, his newly-released book offers an unrelentingly critical view of the Muslims of Germany and trades on what he says are the tensions caused by immigration in the European country.

The former politician and author might not be offering academic insight, but his views are being widely read by the country's surging far-right groups. Hostile Takeover ranked number one on Germany's Amazon's bestseller list before even going to print.

Mainstream media outlets have debunked his theories, including the idea that Islam threatens the development of Germany due to what he says is its intolerance.

“His claim to be able to determine the core statements of Islam by reading the Quran without any knowledge of Arabic or theological background is an absurd presumption,” Ulrich von Schwerin wrote on the Deutsche Welle website.

Mr Sarrazin openly admits that his analysis "exclusively" follows his own "direct understanding of the text," as if the religion is really to be understood without taking into account the context of its origin and the history of its reception.

By his own admission, Mr Sarrazin has no training to be a theologian and he claims to be delivering his own observations of German life.

Populist, right-leaning outlets have supported the author's views while others have condemned him as divisive.

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His reductive approach first reached German readers in 2010 when he published the bestseller Germany Is Doing Away With Itself.

In it, he argued that the “right sort” of German women were having too few babies and that the “wrong sort” (which he defines as Muslims and those with little education) were having too many. He says that, as a result, the German population was not only shrinking but getting dumber.

The first book published by the former Social Democratic Party politician and bank director in 2010 contained an eerie throwback to eugenics and a grim reminder of Germany’s darkest times.

The German paper Der Spiegel referred to him as "the man who divided Germany" shortly after publication, as he stirred up controversy.

This title still seems fitting. His tomes may be full of inaccuracies, but they are still striking a nerve among those who are experiencing real anxieties about what immigration may mean for Germany.

Chancellor Angela Merkel has come under fire for integrating more than a million refugees over the past three years.

But rather than giving answers, Mr Sarrazin's work further blurs the line between facts and emotions – a phenomenon that characterises the new era of populism in Europe and in the United States.

Ms Merkel has been striking a conciliatory note as well as conceding that “there has to be more order to all forms of migration”.

After weeks of conflict between Ms Merkel and Interior Minister Horst Seehofer, the conservative sister parties CDU and CSU reached a mutually-satisfactory deal on migration policies.

The chancellor might have won a battle, but the war is not over yet. The real challenge – the one against those voices appealing to humanity’s worst instincts – has just begun.

How to get exposure to gold

Although you can buy gold easily on the Dubai markets, the problem with buying physical bars, coins or jewellery is that you then have storage, security and insurance issues.

A far easier option is to invest in a low-cost exchange traded fund (ETF) that invests in the precious metal instead, for example, ETFS Physical Gold (PHAU) and iShares Physical Gold (SGLN) both track physical gold. The VanEck Vectors Gold Miners ETF invests directly in mining companies.

Alternatively, BlackRock Gold & General seeks to achieve long-term capital growth primarily through an actively managed portfolio of gold mining, commodity and precious-metal related shares. Its largest portfolio holdings include gold miners Newcrest Mining, Barrick Gold Corp, Agnico Eagle Mines and the NewMont Goldcorp.

Brave investors could take on the added risk of buying individual gold mining stocks, many of which have performed wonderfully well lately.

London-listed Centamin is up more than 70 per cent in just three months, although in a sign of its volatility, it is down 5 per cent on two years ago. Trans-Siberian Gold, listed on London's alternative investment market (AIM) for small stocks, has seen its share price almost quadruple from 34p to 124p over the same period, but do not assume this kind of runaway growth can continue for long

However, buying individual equities like these is highly risky, as their share prices can crash just as quickly, which isn't what what you want from a supposedly safe haven.

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Director: Ali Abbas Zafar

Starring: Salman Khan, Katrina Kaif, Sunil Grover

Rating: 2.5 out of 5 stars

MATCH INFO

Norwich City 1 (Cantwell 75') Manchester United 2 (Aghalo 51' 118') After extra time.

Man of the match Harry Maguire (Manchester United)

RESULTS

Dubai Kahayla Classic – Group 1 (PA) $750,000 (Dirt) 2,000m
Winner: Deryan, Ioritz Mendizabal (jockey), Didier Guillemin (trainer).
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Dubai Gold Cup – Group 2 (TB) $750,000 (Turf) 3,200m
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Al Quoz Sprint – Group 1 (TB) $1million (T) 1,200m
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UAE Derby – Group 2 (TB) $750,000 (D) 1,900m
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Dubai Golden Shaheen – Group 1 (TB) $1.5million (D) 1,200m
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Dubai Turf – Group 1 (TB) $4million (T) 1,800m
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Dubai Sheema Classic – Group 1 (TB) $5million (T) 2,410m
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The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative 

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UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

Asia Cup Qualifier

Venue: Kuala Lumpur

Result: Winners play at Asia Cup in Dubai and Abu Dhabi in September

Fixtures:

Wed Aug 29: Malaysia v Hong Kong, Nepal v Oman, UAE v Singapore

Thu Aug 30: UAE v Nepal, Hong Kong v Singapore, Malaysia v Oman

Sat Sep 1: UAE v Hong Kong, Oman v Singapore, Malaysia v Nepal

Sun Sep 2: Hong Kong v Oman, Malaysia v UAE, Nepal v Singapore

Tue Sep 4: Malaysia v Singapore, UAE v Oman, Nepal v Hong Kong

Thu Sep 6: Final

 

Asia Cup

Venue: Dubai and Abu Dhabi

Schedule: Sep 15-28

Teams: Afghanistan, Bangladesh, India, Pakistan, Sri Lanka, plus the winner of the Qualifier

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Skoda Superb Specs

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21 Lessons for the 21st Century

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Director: Shady Ali
Cast: Boumi Fouad , Mohamed Tharout and Hisham Ismael
Rating: 3/5

What vitamins do we know are beneficial for living in the UAE

Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.

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What is a robo-adviser?

Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.

These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.

Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.

Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.

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UAE currency: the story behind the money in your pockets
Pakistan squad

Sarfraz (c), Zaman, Imam, Masood, Azam, Malik, Asif, Sohail, Shadab, Nawaz, Ashraf, Hasan, Amir, Junaid, Shinwari and Afridi

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.”

THE SPECS

2020 Toyota Corolla Hybrid LE

Engine: 1.8 litre combined with 16-volt electric motors

Transmission: Automatic with manual shifting mode

Power: 121hp

Torque: 142Nm

Price: Dh95,900

Juliot Vinolia’s checklist for adopting alternate-day fasting

-      Don’t do it more than once in three days

-      Don’t go under 700 calories on fasting days

-      Ensure there is sufficient water intake, as the body can go in dehydration mode

-      Ensure there is enough roughage (fibre) in the food on fasting days as well

-      Do not binge on processed or fatty foods on non-fasting days

-      Complement fasting with plant-based foods, fruits, vegetables, seafood. Cut out processed meats and processed carbohydrates

-      Manage your sleep

-      People with existing gastric or mental health issues should avoid fasting

-      Do not fast for prolonged periods without supervision by a qualified expert