Nearly half a million demonstrators took to the streets of Barcelona to protest Madrid's direct rule over Catalonia. AP Photo/Emilio Morenatti)
Nearly half a million demonstrators took to the streets of Barcelona to protest Madrid's direct rule over Catalonia. AP Photo/Emilio Morenatti)
Nearly half a million demonstrators took to the streets of Barcelona to protest Madrid's direct rule over Catalonia. AP Photo/Emilio Morenatti)
Nearly half a million demonstrators took to the streets of Barcelona to protest Madrid's direct rule over Catalonia. AP Photo/Emilio Morenatti)

Spain: Threat of violence as Madrid denies 'coup' and Catalan leader declares 'worst attack since Franco'


  • English
  • Arabic

The Spanish government is attempting the worst attack on Catalonia since Franco, declared the Catalan President in response to Madrid’s plans for direct rule.

The Spanish government unveiled plans on Saturday to sack the separatist leaders of Catalonia and call new regional elections under previously unused and wide-reaching powers to prevent the country from breaking up.

Mariano Rajoy, the prime minister, said that he wanted ministers to take over the top jobs of the Catalan government, including taking control of the police, the region’s finances and public media.

The plan will go before the Senate for approval on Friday. The ruling centre-right party has a majority in the Senate and so the measures are likely to pass. How Mr Rajoy’s plans could be implemented without the use of force has not been explained.

Catalan leader Carles Puigdemont said that the plans to replace him and his cabinet was an attempt to “humiliate” the region and an “attack on democracy”.

Mr Rajoy's announcement prompted Mr Puigdemont to lead an estimated 450,000 demonstrators wrapped in red-and-yellow Catalan flags onto the streets of central Barcelona on Saturday, holding up signs calling for freedom.

Denouncing Mr Rajoy’s move, the Catalan leader said the Spanish government was attempting the “worst attack on the institutions and people of Catalonia since the decrees of the military dictator Francisco Franco abolishing the Generalitat [parliament] of Catalonia”.

Passionate pro-Independence supporters have said they will surround parliament or any building which their leader Carles Puigdemont is in to create a human shield and prevent his arrest.

The speaker of the Catalan parliament, Carme Forcadell, has called measures announced by the government on Saturday a "de facto coup d'état".

In a bid to de-escalate matters, Foreign Minister Alfonso Dastis said on Sunday: “'All the government is trying to do, and reluctantly, is to reinstate the legal order, to restore the constitution but also the Catalan rules and proceed from there”,

He has denied that Madrid is mounting a coup, saying instead, “if anyone has attempted a coup, it is the Catalan regional government”.

The decision to press for the abolition of the Catalan leadership, impose direct rule and push for elections within six months followed a special cabinet meeting on Saturday morning, almost three weeks after the controversial independence referendum took place.

___________________

Read more

___________________

The vote, which was ruled illegal by the supreme court, saw 90 per cent of the 43 per cent of Catalans who took part in the poll ask for independence.

Two-thirds of the region’s mayors defied the Spanish courts to help organise the referendum and thousands risked criminal charges by working as volunteers or hiding ballot boxes in their houses.

However, many anti-independence supporters boycotted the ballot and claimed it was not valid.

Mr Puigdemont claimed the referendum result gave him a mandate to pursue independence. He and other regional leaders signed a declaration of independence, but immediately suspended it in order to allow for talks. Mr Puigdemont missed two deadlines set by the national government in which he had been asked to clarify Catalonia’s position.

Now, Spain’s government has taken historic steps to take back power.

Article 155 of the Spanish constitution allows the national government to impose direct rule over Spain's semi-autonomous regions if there is a crisis. It does not suspend the autonomy of Catalonia, which is guaranteed in Spain’s constitution and the Statute of Autonomy, but it allows the government to take special measures to force the region to adhere to its constitutional obligations.

It states that if a region's government "acts in a way that seriously threatens the general interest of Spain", Madrid can "take necessary measures to oblige it forcibly to comply".

It has never before been invoked in democratic Spain. The article is only two paragraphs long and does not outline rules for implementation.

Its implementation, as explained by the prime minister, is based on four objectives of the government: return to legality, restore normalcy and coexistence, continue economic recovery and hold to elections in the region.

“We are not suspending Catalonia's autonomy nor its self-governance. We're just reinstating normality,” said Mr Rajoy.

The Catalan secessionist challenge was not officially on the agenda of the European summit of state and government leaders held on Thursday and Friday this week in Brussels.

Yet German Chancellor Angela Merkel and French President Emmanuel Macron publicly announced their sympathy with Madrid.

“We are taking a very close look at Catalonia and are supporting the position of the Spanish government, which happens to be supported by all major political parties in Spain,” said Ms Merkel.

While Mr Macron said that “this European Council will be marked by a message of unity, unity around our member states in the face of the crises they may experience, unity around Spain.”

Speaking in blunter terms, Antonio Tajani, the president of the European Parliament, said: “Nobody in the EU would recognize the independence of Catalonia”.

UK Prime Minister Theresa May, who has stared down demands for a second Scottish referendum, said she spoke personally to Mr Rajoy and “made clear that the United Kingdom’s position is very clear. We believe that people should be abiding by the rule of law and uphold the Spanish constitution”.

Mr Puigdemont will appear before Catalonia’s parliament tomorrow and has threatened to make a unilateral declaration of independence if the government went ahead with the crackdown.

MATCH INFO

Uefa Champions League final:

Who: Real Madrid v Liverpool
Where: NSC Olimpiyskiy Stadium, Kiev, Ukraine
When: Saturday, May 26, 10.45pm (UAE)
TV: Match on BeIN Sports

Infiniti QX80 specs

Engine: twin-turbocharged 3.5-liter V6

Power: 450hp

Torque: 700Nm

Price: From Dh450,000, Autograph model from Dh510,000

Available: Now

Will the pound fall to parity with the dollar?

The idea of pound parity now seems less far-fetched as the risk grows that Britain may split away from the European Union without a deal.

Rupert Harrison, a fund manager at BlackRock, sees the risk of it falling to trade level with the dollar on a no-deal Brexit. The view echoes Morgan Stanley’s recent forecast that the currency can plunge toward $1 (Dh3.67) on such an outcome. That isn’t the majority view yet – a Bloomberg survey this month estimated the pound will slide to $1.10 should the UK exit the bloc without an agreement.

New Prime Minister Boris Johnson has repeatedly said that Britain will leave the EU on the October 31 deadline with or without an agreement, fuelling concern the nation is headed for a disorderly departure and fanning pessimism toward the pound. Sterling has fallen more than 7 per cent in the past three months, the worst performance among major developed-market currencies.

“The pound is at a much lower level now but I still think a no-deal exit would lead to significant volatility and we could be testing parity on a really bad outcome,” said Mr Harrison, who manages more than $10 billion in assets at BlackRock. “We will see this game of chicken continue through August and that’s likely negative for sterling,” he said about the deadlocked Brexit talks.

The pound fell 0.8 per cent to $1.2033 on Friday, its weakest closing level since the 1980s, after a report on the second quarter showed the UK economy shrank for the first time in six years. The data means it is likely the Bank of England will cut interest rates, according to Mizuho Bank.

The BOE said in November that the currency could fall even below $1 in an analysis on possible worst-case Brexit scenarios. Options-based calculations showed around a 6.4 per cent chance of pound-dollar parity in the next one year, markedly higher than 0.2 per cent in early March when prospects of a no-deal outcome were seemingly off the table.

Bloomberg

The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E77kWh%202%20motors%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E178bhp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E410Nm%0D%3Cbr%3E%3Cstrong%3ERange%3A%20%3C%2Fstrong%3E402km%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EDh%2C150%2C000%20(estimate)%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ETBC%3C%2Fp%3E%0A
Analysis

Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more

Skewed figures

In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458. 

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 most expensive investment mistake you will ever make

When is the best time to start saving in a pension? The answer is simple – at the earliest possible moment. The first pound, euro, dollar or dirham you invest is the most valuable, as it has so much longer to grow in value. If you start in your twenties, it could be invested for 40 years or more, which means you have decades for compound interest to work its magic.

“You get growth upon growth upon growth, followed by more growth. The earlier you start the process, the more it will all roll up,” says Chris Davies, chartered financial planner at The Fry Group in Dubai.

This table shows how much you would have in your pension at age 65, depending on when you start and how much you pay in (it assumes your investments grow 7 per cent a year after charges and you have no other savings).

Age

$250 a month

$500 a month

$1,000 a month

25

$640,829

$1,281,657

$2,563,315

35

$303,219

$606,439

$1,212,877

45

$131,596

$263,191

$526,382

55

$44,351

$88,702

$177,403

 

The biog

Fatima Al Darmaki is an Emirati widow with three children

She has received 46 certificates of appreciation and excellence throughout her career

She won the 'ideal mother' category at the Minister of Interior Awards for Excellence

Her favourite food is Harees, a slow-cooked porridge-like dish made from boiled wheat berries mixed with chicken

Tank warfare

Lt Gen Erik Petersen, deputy chief of programs, US Army, has argued it took a “three decade holiday” on modernising tanks. 

“There clearly remains a significant armoured heavy ground manoeuvre threat in this world and maintaining a world class armoured force is absolutely vital,” the general said in London last week.

“We are developing next generation capabilities to compete with and deter adversaries to prevent opportunism or miscalculation, and, if necessary, defeat any foe decisively.”

Batti Gul Meter Chalu

Producers: KRTI Productions, T-Series
Director: Sree Narayan Singh
Cast: Shahid Kapoor, Shraddha Kapoor, Divyenndu Sharma, Yami Gautam
Rating: 2/5

MATCH INFO

England 241-3 (20 ovs)

Malan 130 no, Morgan 91

New Zealand 165 all out (16.5ovs)

Southee 39, Parkinson 4-47

England win by 76 runs

Series level at 2-2

The Dark Blue Winter Overcoat & Other Stories From the North
Edited and Introduced by Sjón and Ted Hodgkinson
Pushkin Press 

The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
The specs: McLaren 600LT

Price, base: Dh914,000

Engine: 3.8-litre twin-turbo V8

Transmission: Seven-speed automatic

Power: 600hp @ 7,500rpm

Torque: 620Nm @ 5,500rpm

Fuel economy 12.2.L / 100km

Brief scoreline:

Manchester United 2

Rashford 28', Martial 72'

Watford 1

Doucoure 90'

EA Sports FC 26

Publisher: EA Sports

Consoles: PC, PlayStation 4/5, Xbox Series X/S

Rating: 3/5

How green is the expo nursery?

Some 400,000 shrubs and 13,000 trees in the on-site nursery

An additional 450,000 shrubs and 4,000 trees to be delivered in the months leading up to the expo

Ghaf, date palm, acacia arabica, acacia tortilis, vitex or sage, techoma and the salvadora are just some heat tolerant native plants in the nursery

Approximately 340 species of shrubs and trees selected for diverse landscape

The nursery team works exclusively with organic fertilisers and pesticides

All shrubs and trees supplied by Dubai Municipality

Most sourced from farms, nurseries across the country

Plants and trees are re-potted when they arrive at nursery to give them room to grow

Some mature trees are in open areas or planted within the expo site

Green waste is recycled as compost

Treated sewage effluent supplied by Dubai Municipality is used to meet the majority of the nursery’s irrigation needs

Construction workforce peaked at 40,000 workers

About 65,000 people have signed up to volunteer

Main themes of expo is  ‘Connecting Minds, Creating the Future’ and three subthemes of opportunity, mobility and sustainability.

Expo 2020 Dubai to open in October 2020 and run for six months

Auron Mein Kahan Dum Tha

Starring: Ajay Devgn, Tabu, Shantanu Maheshwari, Jimmy Shergill, Saiee Manjrekar

Director: Neeraj Pandey

Rating: 2.5/5

Last-16 Europa League fixtures

Wednesday (Kick-offs UAE)

FC Copenhagen (0) v Istanbul Basaksehir (1) 8.55pm

Shakhtar Donetsk (2) v Wolfsburg (1) 8.55pm

Inter Milan v Getafe (one leg only) 11pm

Manchester United (5) v LASK (0) 11pm 

Thursday

Bayer Leverkusen (3) v Rangers (1) 8.55pm

Sevilla v Roma  (one leg only)  8.55pm

FC Basel (3) v Eintracht Frankfurt (0) 11pm 

Wolves (1) Olympiakos (1) 11pm 

The biog

Hobbies: Salsa dancing “It's in my blood” and listening to music in different languages

Favourite place to travel to: “Thailand, as it's gorgeous, food is delicious, their massages are to die for!”  

Favourite food: “I'm a vegetarian, so I can't get enough of salad.”

Favourite film:  “I love watching documentaries, and am fascinated by nature, animals, human anatomy. I love watching to learn!”

Best spot in the UAE: “I fell in love with Fujairah and anywhere outside the big cities, where I can get some peace and get a break from the busy lifestyle”

Meydan Racecourse racecard:

6.30pm: The Madjani Stakes Listed (PA) | Dh175,000 1,900m

7.05pm: Maiden for 2-year-old fillies (TB) Dh165,000 1,400m

7.40pm: The Dubai Creek Mile Listed (TB) Dh265,000 1,600m

8.15pm: Maiden for 2-year-old colts (TB) Dh165,000 1,600m

8.50pm: The Entisar Listed (TB) Dh265,000 2,000m

9.25pm: Handicap (TB) Dh190,000 1,200m

10pm: Handicap (TB) Dh190,000 1,600m.

'The Sky is Everywhere'

Director:Josephine Decker

Stars:Grace Kaufman, Pico Alexander, Jacques Colimon

Rating:2/5

RESULTS

5pm: Wathba Stallions Cup – Maiden (PA) Dh70,000 (Dirt) 1,400m
Winner: Yas Xmnsor, Sean Kirrane (jockey), Khalifa Al Neyadi (trainer)

5.30pm: Falaj Hazza – Handicap (PA) Dh70,000 (D) 1,600m
Winner: Arim W’Rsan, Dane O’Neill, Jaci Wickham

6pm: Al Basrah – Maiden (PA) Dh70,000 (D) 1,800m
Winner: Kalifano De Ghazal, Abdul Aziz Al Balushi, Helal Al Alawi

6.30pm: Oud Al Touba – Handicap (PA) Dh70,000 (D) 1,800m
Winner: Pharitz Oubai, Sean Kirrane, Ibrahim Al Hadhrami

7pm: Sieh bin Amaar – Conditions (PA) Dh80,000 (D) 1,800m
Winner: Oxord, Richard Mullen, Abdalla Al Hammadi

7.30pm: Jebel Hafeet – Conditions (PA) Dh85,000 (D) 2,000m
Winner: AF Ramz, Sean Kirrane, Khalifa Al Neyadi

8pm: Al Saad – Handicap (TB) Dh70,000 (D) 2,000m
Winner: Sea Skimmer, Gabriele Malune, Kareem Ramadan

HUNGARIAN GRAND PRIX RESULT

1. Sebastian Vettel, Ferrari 1:39:46.713
2. Kimi Raikkonen, Ferrari 00:00.908
3. Valtteri Bottas, Mercedes-GP 00:12.462
4. Lewis Hamilton, Mercedes-GP 00:12.885
5. Max Verstappen, Red Bull Racing 00:13.276
6. Fernando Alonso, McLaren 01:11.223
7. Carlos Sainz Jr, Toro Rosso 1 lap
8. Sergio Perez, Force India 1 lap
9. Esteban Ocon, Force India  1 lap
10. Stoffel Vandoorne, McLaren 1 lap
11. Daniil Kvyat, Toro Rosso 1 lap
12. Jolyon Palmer, Renault 1 lap
13. Kevin Magnussen, Haas 1 lap
14. Lance Stroll, Williams 1 lap
15. Pascal Wehrlein, Sauber 2 laps
16. Marcus Ericsson, Sauber 2 laps
17r. Nico Huelkenberg, Renault 3 laps
r. Paul Di Resta, Williams 10 laps
r. Romain Grosjean, Haas 50 laps
r. Daniel Ricciardo, Red Bull Racing 70 laps

No Shame

Lily Allen

(Parlophone)

The biog

Hobby: "It is not really a hobby but I am very curious person. I love reading and spend hours on research."

Favourite author: Malcom Gladwell 

Favourite travel destination: "Antigua in the Caribbean because I have emotional attachment to it. It is where I got married."

Company%20profile
%3Cp%3EName%3A%20Tabby%3Cbr%3EFounded%3A%20August%202019%3B%20platform%20went%20live%20in%20February%202020%3Cbr%3EFounder%2FCEO%3A%20Hosam%20Arab%2C%20co-founder%3A%20Daniil%20Barkalov%3Cbr%3EBased%3A%20Dubai%2C%20UAE%3Cbr%3ESector%3A%20Payments%3Cbr%3ESize%3A%2040-50%20employees%3Cbr%3EStage%3A%20Series%20A%3Cbr%3EInvestors%3A%20Arbor%20Ventures%2C%20Mubadala%20Capital%2C%20Wamda%20Capital%2C%20STV%2C%20Raed%20Ventures%2C%20Global%20Founders%20Capital%2C%20JIMCO%2C%20Global%20Ventures%2C%20Venture%20Souq%2C%20Outliers%20VC%2C%20MSA%20Capital%2C%20HOF%20and%20AB%20Accelerator.%3Cbr%3E%3C%2Fp%3E%0A
Defending champions

World Series: South Africa
Women’s World Series: Australia
Gulf Men’s League: Dubai Exiles
Gulf Men’s Social: Mediclinic Barrelhouse Warriors
Gulf Vets: Jebel Ali Dragons Veterans
Gulf Women: Dubai Sports City Eagles
Gulf Under 19: British School Al Khubairat
Gulf Under 19 Girls: Dubai Exiles
UAE National Schools: Al Safa School
International Invitational: Speranza 22
International Vets: Joining Jack

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.

Roger Federer's record at Wimbledon

Roger Federer's record at Wimbledon

1999 - 1st round

2000 - 1st round

2001 - Quarter-finalist

2002 - 1st round

2003 - Winner

2004 - Winner

2005 - Winner

2006 - Winner

2007 - Winner

2008 - Finalist

2009 - Winner

2010 - Quarter-finalist

2011 - Quarter-finalist

2012 - Winner

2013 - 2nd round

2014 - Finalist

2015 - Finalist

2016 - Semi-finalist