The European Commissioner for Promoting our European Way of Life, Margaritis Schinas (left) and European Home Affairs Commissioner Ylva Johansson (right). EPA/Pool
The European Commissioner for Promoting our European Way of Life, Margaritis Schinas (left) and European Home Affairs Commissioner Ylva Johansson (right). EPA/Pool
The European Commissioner for Promoting our European Way of Life, Margaritis Schinas (left) and European Home Affairs Commissioner Ylva Johansson (right). EPA/Pool
The European Commissioner for Promoting our European Way of Life, Margaritis Schinas (left) and European Home Affairs Commissioner Ylva Johansson (right). EPA/Pool

French law to provide permanent safeguards against extremism


Damien McElroy
  • English
  • Arabic

France published a new law to tackle social divisions along religious and ideological lines, with the prime minister vowing to tackle entities that “divide and spread hate and violence”.

Jean Castex said the legislation was designed to take on “the manifestation of a conscious, theorised, political-religious project with an ambition to make religious norms predominate over the law”.

The bill is aimed at political ideology that threatens French values.

Mr Castex said the safeguards would most immediately be in relation to Islamists working inside social fronts.

“Today it is radical Islamism that we try by all means to fight,” he said.

President Emmanuel Macron and Mr Castex have insisted that neither Islam as a religion nor regular Muslim citizens are targeted by the draft law.

The detail of the 50 articles sets out aims for enabling better oversight of mosques, associations, public services and schools.

The objective is to reduce the space in which radicals can operate and ensure that French values, including secularism, are guaranteed.

Among notable measures is making school obligatory from when children turn 3, with the ability to opt out in favour of home schooling for special cases only.

The measure is aimed at ending clandestine schools run by extremists with their own agenda.

Another article encourages mosques to register as places of worship, to better identify them.

Many of the nation’s more than 2,600 mosques operate under rules for associations.

Foreign funding for mosques, while not forbidden, would have to be declared if it were more than €10,000 ($12,112).

The draft law would make it a crime for a doctor to provide a young woman with virginity certificates, which are sometimes demanded ahead of marriage.

It would be punishable by punishable by fines and up to a year in prison.

To do away with forced marriages, a measure requires the couple to meet separately for an interview with an official when there is a doubt about free consent.

If the doubt persists, the official must take the issue to a prosecutor who could forbid the marriage.

Those practising polygamy would be forbidden French residence cards.

Meanwhile, the European Commission adopted a new counter-extremism strategy to protect communities and institutions from extremist influence.

“The terrorist attacks are attacks towards our society, not only to individuals but also to our societies, our values and our freedom. And this is what we need to defend and protect,” said Ylva Johansson, the EU Commissioner for home affairs.

The Counter-Terrorism Agenda unveiled on Wednesday covers teaching in schools and guidance on prevention of radicalisation among prisoners.

The EU’s executive arm also said efficient detection of suspects at the bloc’s borders is crucial to guarantee European citizens' security.

Ms Johansson said all 27 member states were responsible for protecting common borders as part of “who is coming and who is leaving and to have alerts, watch lists, of those who might cause a threat towards our security".

MOUNTAINHEAD REVIEW

Starring: Ramy Youssef, Steve Carell, Jason Schwartzman

Director: Jesse Armstrong

Rating: 3.5/5

Ferrari 12Cilindri specs

Engine: naturally aspirated 6.5-liter V12

Power: 819hp

Torque: 678Nm at 7,250rpm

Price: From Dh1,700,000

Available: Now

Tips on buying property during a pandemic

Islay Robinson, group chief executive of mortgage broker Enness Global, offers his advice on buying property in today's market.

While many have been quick to call a market collapse, this simply isn’t what we’re seeing on the ground. Many pockets of the global property market, including London and the UAE, continue to be compelling locations to invest in real estate.

While an air of uncertainty remains, the outlook is far better than anyone could have predicted. However, it is still important to consider the wider threat posed by Covid-19 when buying bricks and mortar. 

Anything with outside space, gardens and private entrances is a must and these property features will see your investment keep its value should the pandemic drag on. In contrast, flats and particularly high-rise developments are falling in popularity and investors should avoid them at all costs.

Attractive investment property can be hard to find amid strong demand and heightened buyer activity. When you do find one, be prepared to move hard and fast to secure it. If you have your finances in order, this shouldn’t be an issue.

Lenders continue to lend and rates remain at an all-time low, so utilise this. There is no point in tying up cash when you can keep this liquidity to maximise other opportunities. 

Keep your head and, as always when investing, take the long-term view. External factors such as coronavirus or Brexit will present challenges in the short-term, but the long-term outlook remains strong. 

Finally, keep an eye on your currency. Whenever currency fluctuations favour foreign buyers, you can bet that demand will increase, as they act to secure what is essentially a discounted property.

How to watch Ireland v Pakistan in UAE

When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.

Dates for the diary

To mark Bodytree’s 10th anniversary, the coming season will be filled with celebratory activities:

  • September 21 Anyone interested in becoming a certified yoga instructor can sign up for a 250-hour course in Yoga Teacher Training with Jacquelene Sadek. It begins on September 21 and will take place over the course of six weekends.
  • October 18 to 21 International yoga instructor, Yogi Nora, will be visiting Bodytree and offering classes.
  • October 26 to November 4 International pilates instructor Courtney Miller will be on hand at the studio, offering classes.
  • November 9 Bodytree is hosting a party to celebrate turning 10, and everyone is invited. Expect a day full of free classes on the grounds of the studio.
  • December 11 Yogeswari, an advanced certified Jivamukti teacher, will be visiting the studio.
  • February 2, 2018 Bodytree will host its 4th annual yoga market.

Anghami
Started: December 2011
Co-founders: Elie Habib, Eddy Maroun
Based: Beirut and Dubai
Sector: Entertainment
Size: 85 employees
Stage: Series C
Investors: MEVP, du, Mobily, MBC, Samena Capital

UAE currency: the story behind the money in your pockets
Karwaan

Producer: Ronnie Screwvala

Director: Akarsh Khurana

Starring: Irrfan Khan, Dulquer Salmaan, Mithila Palkar

Rating: 4/5

The specs: 2018 Mercedes-Benz E 300 Cabriolet

Price, base / as tested: Dh275,250 / Dh328,465

Engine: 2.0-litre four-cylinder

Power: 245hp @ 5,500rpm

Torque: 370Nm @ 1,300rpm

Transmission: Nine-speed automatic

Fuel consumption, combined: 7.0L / 100km

MATCH INFO

First Test at Barbados
West Indies won by 381 runs

Second Test at Antigua
West Indies won by 10 wickets

Third Test at St Lucia
February 9-13

 

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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.”