MARSEILLE, FRANCE// Francois Hollande's new socialist government shows early signs of being less tolerant towards France's large Muslim community than the previous centre-right administration of Nicolas Sarkozy, according to the co-founder of a body promoting the interests of Arabian Gulf and African nations.
The charge is at first glance surprising given the lengths to which Mr Sarkozy went, in vain, to lure voters in the May presidential election from the far-right, anti-immigration Front National.
But Yana Korobko, secretary of the Paris-based Observatory of the Black, Gulf and Mediterranean Seas (OBGMS), said Mr Hollande's positions were "unusually firm for a leftist in France".
In 2004, when finance minister, Mr Sarkozy published a book, entitled The Republic, Religions, Hope, in which he advocated possible amendment of France's 1905 law separating church and state to allow public funds to be used to help ensure every town had adequate mosques.
France has Europe's largest community of Muslims, estimated at between five and seven million, but in some areas, the lack of places of worship is driving people to pray in makeshift premises.
Socialists committed to secular values were among the book's harshest critics and its proposals were quietly forgotten, although two cities - Strasbourg and Marseille - have found ways of helping local Muslims with mosque building projects.
"The question of new mosques construction remains undecided because of the firm unwillingness of the Europeans to accept another culture on their territory, especially in such large numbers," Ms Korobko said. "It is mainly caused by the historic, social and psychological specificities of the Europeans, and the French people in particular."
She is not alone in being concerned about the outlook of the left as a whole.
Despite the right's obsessions with immigration, especially from former French colonies in North and sub-Saharan Africa, and with the alleged "Islamification" of France, it was a communist mayor who led the campaign to ban the face-covering niqab inpublic.
And a communist-led council in the Parisian suburbs was at the centre of a recent row over attempts to discipline Muslim summer-camp staff for fasting during Ramadan which, it claimed, impaired their ability to work and ensure the safety of children in their care.
The council backed down but Mohand Yanat, a lawyer acting for the four monitors who had initially been suspended, said that while French conservatives generally acted with suspicion towards Muslims, they were "more protective" of their right to practise their faith.
Ms Korobko cautioned against "categorical distinction" between the two main political streams in France.
Mr Hollande's interior minister, Manuel Valls, has promised to dismantle elements of the Sarkozy approach to immigration that the left condemned as a cynical attempt to win voters from the Front National.
Ms Korobko concedes that the government's first steps on immigrant policy do not "explicitly threaten French Muslims".
But nor, she said, do they contradict the strict Sarkozy line that had led to "record numbers of expulsions of undocumented Muslim immigrants, including families with children of French citizenship and second and third generations of French-born Muslims".
Mr Hollande had also spoken against separate menus in public restaurants or women-only sessions in public swimming pools, as sought by Muslims, she said. And he had firmly supported the ban on the full burqa.
She felt the president was unsure how to deal with the "Islam question", torn between a strict line similar to that of Mr Sarkozy and a middle course. A complication for him was that laïcité - secularism - was historically a left-wing idea, whereas most voting French Muslims supported the left.
Indeed, some French Jewish leaders have voiced their own fears about a pro-Arab policy shift under the socialists.
"Hollande would have to find a middle ground between his personal principles [a strict adaptation of laicisation] and his image … in the eyes of the Muslim part of his constituency," she said.
As if to prove her point that there is no clear-cut distinction between the main strands of French politics, a centre-right local administration in the southern town of Saint-Esteve ruled this week that no separate space could be found in the municipal cemetery for Muslims.
Friends of Mokthar Adouanea, a decorated former member of the French military, who died on Monday, occupied the town hall in protest, pointing out that a plot had previously been promised to Muslims.
Yesterday they accepted an offer to bury him in nearby Perpignan but said the controversy was additionally distressing because it had arisen just before Eid.
It is the sort of localised issue that leads Ms Korobko to the conclusion that Europe still struggles to assimilate unfamiliar cultures.
In her work for the OBGMS, having mastered in international relations, international public law and diplomacy at the Sorbonne campuses in Paris and Abu Dhabi, she collaborates with the United Nations scientific and cultural agency Unesco, heading projects to promote "interciviliational dialogue and world peace".
Ms Korobko, who is Ukrainian-born but speaks Arabic among several languages, describes her mission as aiming to overcome "common stereotyping by explaining the truth about Islam to the Christians and vice versa".
Asked in the interview, conducted by e-mail, about the way conflict and controversy dominate media coverage and political discussion of Islam in Europe, she said this was essentially "provoked by political reasons and too easily exploited by religious extremists and racists".
She said that a number or Muslim states, notably the United Arab Emirates, were eager to facilitate promotion of the cause of international peace, with the younger generation in particular open to new ideas.
foreign.desk@thenational.ae
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NYBL PROFILE
Company name: Nybl
Date started: November 2018
Founder: Noor Alnahhas, Michael LeTan, Hafsa Yazdni, Sufyaan Abdul Haseeb, Waleed Rifaat, Mohammed Shono
Based: Dubai, UAE
Sector: Software Technology / Artificial Intelligence
Initial investment: $500,000
Funding round: Series B (raising $5m)
Partners/Incubators: Dubai Future Accelerators Cohort 4, Dubai Future Accelerators Cohort 6, AI Venture Labs Cohort 1, Microsoft Scale-up
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Background: Chemical Weapons
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
The 100 Best Novels in Translation
Boyd Tonkin, Galileo Press
SPECS
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The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
Match info:
Real Betis v Sevilla, 10.45pm (UAE)
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.”
What's in the deal?
Agreement aims to boost trade by £25.5bn a year in the long run, compared with a total of £42.6bn in 2024
India will slash levies on medical devices, machinery, cosmetics, soft drinks and lamb.
India will also cut automotive tariffs to 10% under a quota from over 100% currently.
Indian employees in the UK will receive three years exemption from social security payments
India expects 99% of exports to benefit from zero duty, raising opportunities for textiles, marine products, footwear and jewellery
Match statistics
Dubai Sports City Eagles 8 Dubai Exiles 85
Eagles
Try: Bailey
Pen: Carey
Exiles
Tries: Botes 3, Sackmann 2, Fourie 2, Penalty, Walsh, Gairn, Crossley, Stubbs
Cons: Gerber 7
Pens: Gerber 3
Man of the match: Tomas Sackmann (Exiles)
The specs
Engine: Four electric motors, one at each wheel
Power: 579hp
Torque: 859Nm
Transmission: Single-speed automatic
Price: From Dh825,900
On sale: Now
Profile of Tamatem
Date started: March 2013
Founder: Hussam Hammo
Based: Amman, Jordan
Employees: 55
Funding: $6m
Funders: Wamda Capital, Modern Electronics (part of Al Falaisah Group) and North Base Media
Favourite things
Luxury: Enjoys window shopping for high-end bags and jewellery
Discount: She works in luxury retail, but is careful about spending, waits for sales, festivals and only buys on discount
University: The only person in her family to go to college, Jiang secured a bachelor’s degree in business management in China
Masters: Studying part-time for a master’s degree in international business marketing in Dubai
Vacation: Heads back home to see family in China
Community work: Member of the Chinese Business Women’s Association of the UAE to encourage other women entrepreneurs
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Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
The specs
Engine: 2.0-litre 4-cyl turbo
Power: 247hp at 6,500rpm
Torque: 370Nm from 1,500-3,500rpm
Transmission: 10-speed auto
Fuel consumption: 7.8L/100km
Price: from Dh94,900
On sale: now
Countries offering golden visas
UK
Innovator Founder Visa is aimed at those who can demonstrate relevant experience in business and sufficient investment funds to set up and scale up a new business in the UK. It offers permanent residence after three years.
Germany
Investing or establishing a business in Germany offers you a residence permit, which eventually leads to citizenship. The investment must meet an economic need and you have to have lived in Germany for five years to become a citizen.
Italy
The scheme is designed for foreign investors committed to making a significant contribution to the economy. Requires a minimum investment of €250,000 which can rise to €2 million.
Switzerland
Residence Programme offers residence to applicants and their families through economic contributions. The applicant must agree to pay an annual lump sum in tax.
Canada
Start-Up Visa Programme allows foreign entrepreneurs the opportunity to create a business in Canada and apply for permanent residence.
The Settlers
Director: Louis Theroux
Starring: Daniella Weiss, Ari Abramowitz
Rating: 5/5
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
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
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