LONDON // It has become the most celebrated maritime disaster of all time and, on April 14 and 15, events to mark the 100th anniversary of the sinking of Titanic will take place across two continents.
There has already been the premiere of the 3D version of James Cameron's Titanic movie and the opening of a £90 million (Dh525m) museum in the Belfast shipyard when the "unsinkable" liner was built.
And there have been the auctions of Titanic-related memorabilia and the sale of everything from T-shirts and tea bags, to Titanic Irish whiskey and even Titanic crisps. TV channels in Britain and the US are being crammed with documentaries and dramas, on top of the video games, CDs, DVDs.
There are also graveyard tours in New York and Nova Scotia, a musical in Ireland, and exhibitions in cities on both sides of the Atlantic.
Yet a few voices have been raised over concerns that the ones being forgotten in all the razzamatazz and hype are the approximately 1,500 souls (nobody is sure of the exact total: estimates range from 1,495 to 1,528) who suffered horrible deaths on April 15, 1912, less than three hours after the ship struck an iceberg just before midnight the previous day.
"There's been little sense of the victims other than as extras in an epic adventure - certainly, no sign of rage against the incompetence, injustice and contempt for the poor which characterised the Titanic experience," the Belfast Telegraph commented last week.
Such concerns are scarcely new. Even in 1912, novelist Joseph Conrad was so appalled by the sensationalist press coverage that he wrote: "A great babble of news and eager comment has arisen around this catastrophe, though it seems to me that a less strident note would have been more becoming in the presence of so many victims left struggling on the sea, of lives miserably thrown away for nothing, or worse than nothing: for false standards of achievement, to satisfy a vulgar demand of a few monied people for a banal hotel luxury."
Yet the public fixation with Titanic remains. John Wilson Foster, the author of three non-fiction books on the vessel and a professor at Queen's University, Belfast, interprets the enduring fascination with the sinking as a metaphor for modern life.
"We choose to see in the ship and the human tragedy of its sinking, meanings that derive from our sense of an ending - our sense that the ship symbolises our culture in crisis," he said.
James Delgado, director of maritime heritage at the US National Oceanic and Atmospheric Administration, believes it is the timeless quality of the tale of Titanic's one and only voyage that has produced such an enduring fascination.
"The story is ageless, like all great stories," he said. "The elements in this case of triumph, tragedy, and hubris, of bravery and cowardice, all wrapped up in one brief moment. That speaks to people."
Both Mr Delgado and Mr Cameron attribute the finding of the wreck in 1985, 3,780 metres below the surface of the North Atlantic, as one of the main reasons for the ship being brought back to the public's attention.
Others attribute the 1955 book A Night to Remember and film of the same name three years later - a much grittier version of events than Mr Cameron's 1997 multiple Oscar-winning movie - for rekindling public interest.
In truth, though, the Titanic story has never gone away. Writing in 1940, George Orwell commented: "I must admit that nothing in the whole war [First World War] moved me so deeply as the loss of Titanic had done a few years earlier.
"This comparatively petty disaster shocked the whole world, and the shock has not quite died away even yet."
That remains true today, particularly in Southampton, the port on England's south coast from where Titanic set off on its maiden voyage to New York on April 10, 1912, with 2,220 people on board.
Of the 899 crew on board that day, 686 died five days later and 549 of them were from Southampton. Hence, tomorrow at 1.30pm British local time - 100 years to the minute since Titanic set sail - Southampton's centenary commemorations will centre on the opening of Sea City Museum.
The new museum, built at a cost of £15m, will "tell the largely untold and fascinating story of Southampton's crew and the effect the tragedy had on families in the city".
Additionally, there is a "Titanic Trail" through the city that takes walkers to the various memorials to crew members, including one to the musicians who continued to play even as the ship sank.
The tour also takes in various buildings with connections to the Titanic story, including the block that once served as the White Star Line's offices where so many hundreds of Southampton's distraught wives, parents and children gathered 100 years ago for news of their loved ones.
Also, a cruise is setting sail to retrace the ship's voyage, including a visit to the location where it sank.
The Titanic Memorial Cruise departed yesterday from Southampton, from where Titanic left on its maiden voyage.
The 12-night cruise, with 1,309 passengers aboard, the MS Balmoral will follow the same route as Titanic. Organisers are trying to recreate the on-board experience - minus the disaster - from the food to a band playing music from that era.
Appropriately, perhaps, Millvina Dean, a babe in arms rescued from Titanic and final remaining survivor of the tragedy, died in Southampton in May, 2009.
dsapsted@thenational.ae
* With additional reporting by the Associated Press
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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.
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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.
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Employment lawyer Meriel Schindler of Withers Worldwide shares her tips on achieving equal pay
Do your homework
Make sure that you are being offered a fair salary. There is lots of industry data available, and you can always talk to people who have come out of the organisation. Where I see people coming a cropper is where they haven’t done their homework.
Don’t be afraid to negotiate
It’s quite standard to negotiate if you think an offer is on the low side. The job is unlikely to be withdrawn if you ask for money, and if that did happen I’d question whether you want to work for an employer who is so hypersensitive.
Know your worth
Women tend to be a bit more reticent to talk about their achievements. In my experience they need to have more confidence in their own abilities – men will big up what they’ve done to get a pay rise, and to compete women need to turn up the volume.
Work together
If you suspect men in your organisation are being paid more, look your boss in the eye and say, “I want you to assure me that I’m paid equivalent to my peers”. If you’re not getting a straight answer, talk to your peer group and consider taking direct action to fix inequality.