People attend a ceremony for the victims of a Toulouse school shooting at the Synagogue de la Victoire in Paris on March 26. Three French-Israeli children and a parent were gunned down outside the Ozar Hatorah Jewish School on March 19.
People attend a ceremony for the victims of a Toulouse school shooting at the Synagogue de la Victoire in Paris on March 26. Three French-Israeli children and a parent were gunned down outside the Ozar Hatorah Jewish School on March 19.
People attend a ceremony for the victims of a Toulouse school shooting at the Synagogue de la Victoire in Paris on March 26. Three French-Israeli children and a parent were gunned down outside the Ozar Hatorah Jewish School on March 19.
People attend a ceremony for the victims of a Toulouse school shooting at the Synagogue de la Victoire in Paris on March 26. Three French-Israeli children and a parent were gunned down outside the Oza

France has no monopoly on hate


Colin Randall
  • English
  • Arabic

MARSEILLE, FRANCE // The rising tension over recent violence that is expected to contribute to a large increase in the number of Jews abandoning France to settle in Israel throws into focus a surprising similarity with the French Muslim community.

France has Europe's largest populations of both Jews and Muslims. The latter is estimated at between five and seven million, originating mainly in the former French colonies of North and sub-Saharan Africa.

Both see reasons to feel a sense of alienation, aggravated in the case of the Jews by lingering antisemitic sentiment, and for Muslims by routine discrimination in employment, education and housing opportunities.

France's Jewish community, about 600,000 strong, has been deeply affected by the Toulouse shootings and a subsequent series of incidents. They include attacks in the street or on public transport carried out with suspected, though in at least one case unsubstantiated, antisemitic motives.

Three Jewish children and the father of two of them were among the victims of the French-Algerian gunman Mohamed Merah's attacks in March.

According to Richard Prasquier, the president of France's main Jewish body, the Representative Council of Jewish Insitutions (Crif), security fears are advanced by some as helping to explain why the number of Jews choosing to emigrate to Israel is likely to rise this year to between 3,000 and 4,000.

This compares with the 1,600 observing aliyah, or emigration to Israel, during 2011. The trend had been one of decline for five years.

However, a more general disenchantment with life in France, and the belief that Israel offers a better option during a time of crisis in the euro zone, may be even more significant.

"Everyone knows people leave for one of two reasons, either because times are difficult in the country where they live or because they are enthusiastic about living in Israel, feel close to Israel and believe life there will be more meaningful," said Mr Prasquier.

"I hope that if people wish to make aliyah, they do so for the second reason, the good one, and not the bad one."

Even allowing for the alarm caused by such incidents as the recent attack on a bus carrying Israeli tourists in Bulgaria, the failure to resolve the Palestinian conflict suggests Israel can hardly be considered safer than Europe.

But there is broad agreement that the worries about anti-Semitism, which the government shares, play a part.

Some Jewish spokesmen also feel French policy towards Israel will shift and become more pro-Arab under the new socialist president, Francois Hollande.

Mr Prasquier is not among them, though he accepts that for some Israeli figures promoting aliyah, the mantra is that "there is no future in France for Jews".

One who does suspect policy change is Gilles-William Goldnadel, a prominent lawyer and the president of the France-Israel Association.

Mr Goldnadel said he had little doubt the new administration will show greater hostility towards Israel. While Benjamin Netanyahu, Israel's prime minister, sometimes clashed with Mr Hollande's centre-right predecessor, Nicolas Sarkozy, their relationship was "balanced", he said, whereas the new president's thinking would be driven by left-wing opposition to the Israeli position.

Without singling out France, Israel has reaffirmed its commitment to aliyah, injecting an additional €40 million (Dh180 million) into its budget for smoothing the integration of new arrivals.

Mention of similarities with the Muslim community may at first seem implausible. But just as France took time to recognise the part it played in the Holocaust, many Maghrebins feel aggrieved there has never been a formal apology for French actions during the Algerian fight for independence.

This year, with its various dates marking the 50th anniversary of the end of French rule, has seen some improvement in Franco-Algerian relations.

But Mr Hollande must tread a delicate path as he seeks to address Algerian grievances without offending the families of others who fought on the French side during the conflict, only to be made unwelcome in France.

The former French president, Jacques Chirac, said in 2004 that neither Jews nor Muslim had a monopoly on being the target of hatred.

Ariel Sharon, the then Israeli prime minister, had complained of a "wild" spread of anti-Semitism and advised all French Jews to leave immediately for Israel.

In the midst of the controversy, Mr Chirac symbolically chose Chambon-sur-Lignon - where many Jews were hidden by villagers from the Nazis and French officials seeking to please their German occupiers - to make a passionate attack not only on anti-Semitism but on the racism encountered by Arabs and Africans.

Eight years later, it is important to remember Jews were not the only victims of Mohamed Merah. In his exchanges with police and an intelligence officer pressing him to surrender before the shoot-out in which he was killed, Merah said French soldiers were also among his key targets. The three he killed were all of North African origin.

French Muslim leaders have consistently condemned Merah's crimes and point out that his actions in no way represented the overwhelming majority of their faithful.

And Nicole Yanedi, president of Crif's regional branch covering Toulouse, said that since Merah's killings "unfortunately turned me into a public figure", she had often been approached in the street with words of encouragement from people "including Muslims who want nothing to do with crazies like him".

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BULKWHIZ PROFILE

Date started: February 2017

Founders: Amira Rashad (CEO), Yusuf Saber (CTO), Mahmoud Sayedahmed (adviser), Reda Bouraoui (adviser)

Based: Dubai, UAE

Sector: E-commerce 

Size: 50 employees

Funding: approximately $6m

Investors: Beco Capital, Enabling Future and Wain in the UAE; China's MSA Capital; 500 Startups; Faith Capital and Savour Ventures in Kuwait

The burning issue

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.

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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

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.”