Rishi Sunak, right, served as Boris Johnson's chancellor. Getty Images
Rishi Sunak, right, served as Boris Johnson's chancellor. Getty Images
Rishi Sunak, right, served as Boris Johnson's chancellor. Getty Images
Rishi Sunak, right, served as Boris Johnson's chancellor. Getty Images

Boris Johnson's 2022 mistakes are Rishi Sunak's best guide to avoiding a re-run in 2023


Thomas Harding
  • English
  • Arabic

When Boris Johnson switched on the Christmas lights attached to the six-metre tree in Downing Street last year he asked the gathered children a question with a seemingly straightforward answer.

“Do you think this Christmas will be considerably better than last Christmas?” the prime minster asked.

“Yes!” the excited voices answered.

Britain was nervously watching the new Omicron variant of Covid-19, unsure if vaccinations would work but knowing that 2021 had been another slog through lockdowns and job uncertainty.

But the man who had led throughout the pandemic had no such misgivings about his own post. An 80-seat majority in parliament, reasonable showings in the polls and he had seemingly brushed off allegations of lockdown-breaching parties in the building behind him.

But now, 12 months on, the man who returned to No 10 Downing Street on Wednesday after a short Christmas break was Rishi Sunak, previously Mr Johnson's neighbour as Chancellor of the Exchequer. The lessons from his predecessor but one ― Liz Truss was briefly prime minister in the autumn ― could shape the pressures Mr Sunak will face in 2023.

British Prime Minister Boris Johnson lights the Christmas tree in Downing Street in December 2021. Getty Images
British Prime Minister Boris Johnson lights the Christmas tree in Downing Street in December 2021. Getty Images

The signs then suggested that 2022 would be a year of recovery and rejoicing, but it turned out to be one of the most grimly momentous years of turmoil in British and European politics.

Calculated or otherwise, Mr Johnson seized the opportunity to show statesmanlike leadership when he supported Kyiv with weapons and money after Russia invaded.

As Ukraine fought for its life, the Partygate scandals appeared to dissipate, replaced by a furore over increasing national insurance contributions by 1 per cent and a £15 billion package to help poorer people.

But Russia’s failures meant the focus turned back on Mr Johnson, with the many slights from MPs in his own party resurfacing.

Boris Johnson's time as British Prime Minister - in pictures

  • Boris Johnson became UK prime minister in July 2019, left, and resigned three years later in July 2022, right. Here 'The National' looks back at his colourful time as leader of the country. Getty Images / Reuters
    Boris Johnson became UK prime minister in July 2019, left, and resigned three years later in July 2022, right. Here 'The National' looks back at his colourful time as leader of the country. Getty Images / Reuters
  • Boris Johnson reads a statement outside 10 Downing Street, formally resigning as Conservative Party leader. PA
    Boris Johnson reads a statement outside 10 Downing Street, formally resigning as Conservative Party leader. PA
  • Boris Johnson and his wife Carrie Johnson attend the National Service of Thanksgiving to celebrate the Platinum Jubilee of Queen Elizabeth at St Paul's Cathedral in June 2022. Getty Images
    Boris Johnson and his wife Carrie Johnson attend the National Service of Thanksgiving to celebrate the Platinum Jubilee of Queen Elizabeth at St Paul's Cathedral in June 2022. Getty Images
  • Boris Johnson addresses the media after surviving a confidence vote in his leadership, in June 2022. PA
    Boris Johnson addresses the media after surviving a confidence vote in his leadership, in June 2022. PA
  • Sir Graham Brady, chairman of the 1922 Committee of Tory backbenchers, announcing that Mr Johnson had survived a confidence vote in his leadership at the Houses of Parliament in June. PA
    Sir Graham Brady, chairman of the 1922 Committee of Tory backbenchers, announcing that Mr Johnson had survived a confidence vote in his leadership at the Houses of Parliament in June. PA
  • Mr Johnson chats with residents in a Diamond Jubilee-themed room as he makes a constituency visit to Sweetcroft care home in Uxbridge, in May 2022. Getty Images
    Mr Johnson chats with residents in a Diamond Jubilee-themed room as he makes a constituency visit to Sweetcroft care home in Uxbridge, in May 2022. Getty Images
  • Boris Johnson reads the findings of the Sue Gray report into gatherings on government premises while Covid-19 restrictions were in place, in his office in No 10, Downing Street in May 2022. Photo: Downing Street
    Boris Johnson reads the findings of the Sue Gray report into gatherings on government premises while Covid-19 restrictions were in place, in his office in No 10, Downing Street in May 2022. Photo: Downing Street
  • An image of a gathering in the Cabinet Room in No 10, Downing Street in June 2020 on the prime minister's birthday was released alongside the Sue Gray report. Photo: Cabinet Office
    An image of a gathering in the Cabinet Room in No 10, Downing Street in June 2020 on the prime minister's birthday was released alongside the Sue Gray report. Photo: Cabinet Office
  • Boris Johnson with a Mark 3 shoulder launch missile system at Thales weapons manufacturer during a visit to Northern Ireland for talks, in May 2022 in Belfast. Getty Images
    Boris Johnson with a Mark 3 shoulder launch missile system at Thales weapons manufacturer during a visit to Northern Ireland for talks, in May 2022 in Belfast. Getty Images
  • Mr Johnson having a turban placed on his head at Gujarat Bio Technology University, during his two-day trip to India in April. Getty Images
    Mr Johnson having a turban placed on his head at Gujarat Bio Technology University, during his two-day trip to India in April. Getty Images
  • Mr Johnson after apologising to MPs for the 'partygate' fine he had received, in the House of Commons in April. AFP
    Mr Johnson after apologising to MPs for the 'partygate' fine he had received, in the House of Commons in April. AFP
  • Mr Johnson and Ukrainian President Volodymyr Zelenskyy walking in central Kyiv, in April. AFP
    Mr Johnson and Ukrainian President Volodymyr Zelenskyy walking in central Kyiv, in April. AFP
  • Mr Johnson arrives for a media interview at the Emirates Palace hotel in Abu Dhabi, in March 2022. Getty Images
    Mr Johnson arrives for a media interview at the Emirates Palace hotel in Abu Dhabi, in March 2022. Getty Images
  • Mr Johnson speaks with officers as he makes a constituency visit to Uxbridge police station in December 2021. Getty Images
    Mr Johnson speaks with officers as he makes a constituency visit to Uxbridge police station in December 2021. Getty Images
  • Mr Johnson observes an early morning Merseyside Police raid on a home in Liverpool as part of 'Operation Toxic' to infiltrate county lines drug dealings in December 2021. Getty Images
    Mr Johnson observes an early morning Merseyside Police raid on a home in Liverpool as part of 'Operation Toxic' to infiltrate county lines drug dealings in December 2021. Getty Images
  • Boris Johnson during a visit to Westport Care Home in Stepney Green, ahead of unveiling his long-awaited plan to fix the social care system, in September 2021. Getty Images
    Boris Johnson during a visit to Westport Care Home in Stepney Green, ahead of unveiling his long-awaited plan to fix the social care system, in September 2021. Getty Images
  • Prince Charles looks on as Boris Johnson attempts to open his umbrella at the National Memorial Arboretum in Stafford, in July 2021. Getty Images
    Prince Charles looks on as Boris Johnson attempts to open his umbrella at the National Memorial Arboretum in Stafford, in July 2021. Getty Images
  • President of the European Council Charles Michel, US President Joe Biden, Japanese Prime Minister Yoshihide Suga, Mr Johnson and Italian PM Mario Draghi pose for the leaders' official photo during the G7 summit in Cornwall, in June 2021. Getty Images
    President of the European Council Charles Michel, US President Joe Biden, Japanese Prime Minister Yoshihide Suga, Mr Johnson and Italian PM Mario Draghi pose for the leaders' official photo during the G7 summit in Cornwall, in June 2021. Getty Images
  • Mr Johnson poses with his wife Carrie in the garden of No 10, Downing Street following their wedding at Westminster Cathedral, in May 2021. Getty Images
    Mr Johnson poses with his wife Carrie in the garden of No 10, Downing Street following their wedding at Westminster Cathedral, in May 2021. Getty Images
  • Mr Johnson visits Hartlepool after the Conservative Party candidate Jill Mortimer won the Hartlepool by-election in May 2021. Getty Images
    Mr Johnson visits Hartlepool after the Conservative Party candidate Jill Mortimer won the Hartlepool by-election in May 2021. Getty Images
  • Mr Johnson receives his first dose of the AstraZeneca vaccine at St. Thomas' Hospital in London, in March 2021. Getty Images
    Mr Johnson receives his first dose of the AstraZeneca vaccine at St. Thomas' Hospital in London, in March 2021. Getty Images
  • Mr Johnson smiles during a televised press conference at No 10, Downing Street in February 2021, as he announces a phased exit from the country's lockdown measures. Getty Images
    Mr Johnson smiles during a televised press conference at No 10, Downing Street in February 2021, as he announces a phased exit from the country's lockdown measures. Getty Images
  • Mr Johnson gives a thumbs-up gesture after signing the Brexit trade deal with the EU in No 10, Downing Street, in December 2020. Getty Images
    Mr Johnson gives a thumbs-up gesture after signing the Brexit trade deal with the EU in No 10, Downing Street, in December 2020. Getty Images
  • Mr Johnson and European Commission President Ursula von der Leyen meet for a dinner to try to reach a breakthrough on a post-Brexit trade deal, in December 2020 in Brussels. Getty Images
    Mr Johnson and European Commission President Ursula von der Leyen meet for a dinner to try to reach a breakthrough on a post-Brexit trade deal, in December 2020 in Brussels. Getty Images
  • Mr Johnson with a vial of the AstraZeneca Covid-19 candidate vaccine, known as AZD1222, at Wockhardt's pharmaceutical manufacturing facility, in November 2020, in Wrexham, Wales. Getty Images
    Mr Johnson with a vial of the AstraZeneca Covid-19 candidate vaccine, known as AZD1222, at Wockhardt's pharmaceutical manufacturing facility, in November 2020, in Wrexham, Wales. Getty Images
  • Mr Johnson drills during his visit to Exeter College in September 2020. Getty Images
    Mr Johnson drills during his visit to Exeter College in September 2020. Getty Images
  • Mr Johnson holds crabs caught on the Carvela at Stromness Harbour in July 2020, during a visit to Scotland. Getty Images
    Mr Johnson holds crabs caught on the Carvela at Stromness Harbour in July 2020, during a visit to Scotland. Getty Images
  • Mr Johnson holds a painting of a ladybird during a visit to The Discovery School in West Malling, in July 2020. Getty Images
    Mr Johnson holds a painting of a ladybird during a visit to The Discovery School in West Malling, in July 2020. Getty Images
  • Mr Johnson and his fiancée Carrie Symonds applaud for key workers outside No 10, Downing Street, in May 2020. Getty Images
    Mr Johnson and his fiancée Carrie Symonds applaud for key workers outside No 10, Downing Street, in May 2020. Getty Images
  • Boris Johnson appears on monitors for a meeting in London. The prime minister chaired the morning update meeting remotely as he was self-isolating after testing positive for Covid-19. Reuters
    Boris Johnson appears on monitors for a meeting in London. The prime minister chaired the morning update meeting remotely as he was self-isolating after testing positive for Covid-19. Reuters
  • Boris Johnson makes a televised address to the nation from inside No 10, Downing Street, with the latest instructions to stay at home to help contain the Covid-19 pandemic, in March 2020. AFP
    Boris Johnson makes a televised address to the nation from inside No 10, Downing Street, with the latest instructions to stay at home to help contain the Covid-19 pandemic, in March 2020. AFP
  • Mr Johnson attends the launch of the UK-hosted COP26 Summit at the Science Museum in London, in February 2020. Getty Images
    Mr Johnson attends the launch of the UK-hosted COP26 Summit at the Science Museum in London, in February 2020. Getty Images
  • Mr Johnson is greeted by staff at No 10, Downing Street, after meeting Queen Elizabeth II and accepting her invitation to form a new government in December 2019. PA
    Mr Johnson is greeted by staff at No 10, Downing Street, after meeting Queen Elizabeth II and accepting her invitation to form a new government in December 2019. PA
  • Mr Johnson and his partner Carrie enter Downing Street as the Conservatives celebrate a sweeping election victory in December 2019. Getty Images
    Mr Johnson and his partner Carrie enter Downing Street as the Conservatives celebrate a sweeping election victory in December 2019. Getty Images
  • Mr Johnson drives a digger with the words 'Get Brexit Done' inside the digger bucket through a fake wall emblazoned with the word 'GRIDLOCK', during a general election campaign event in December 2019. Getty Images
    Mr Johnson drives a digger with the words 'Get Brexit Done' inside the digger bucket through a fake wall emblazoned with the word 'GRIDLOCK', during a general election campaign event in December 2019. Getty Images
  • Mr Johnson eats pie on the campaign bus in Derby, on the final day of campaigning before the general election in December 2019. Getty Images
    Mr Johnson eats pie on the campaign bus in Derby, on the final day of campaigning before the general election in December 2019. Getty Images
  • Mr Johnson takes a turn in goal during the warm up before a girls' football match between Hazel Grove United JFC and Poynton Juniors in December 2019. Getty Images
    Mr Johnson takes a turn in goal during the warm up before a girls' football match between Hazel Grove United JFC and Poynton Juniors in December 2019. Getty Images
  • Mr Johnson poses with workers as he is given a tour of Wilton Engineering Services as part of an election campaign trail stop in November 2019, in Middlesbrough. Getty Images
    Mr Johnson poses with workers as he is given a tour of Wilton Engineering Services as part of an election campaign trail stop in November 2019, in Middlesbrough. Getty Images
  • Mr Johnson poses for a photo wearing boxing gloves during a stop on his general election campaign trail in Manchester, in November 2019. Getty Images
    Mr Johnson poses for a photo wearing boxing gloves during a stop on his general election campaign trail in Manchester, in November 2019. Getty Images
  • Mr Johnson eats a rock sweet which reads 'Back Boris' during a general election campaign trail stop in Blackpool, in November 2019. Getty Images
    Mr Johnson eats a rock sweet which reads 'Back Boris' during a general election campaign trail stop in Blackpool, in November 2019. Getty Images
  • Mr Johnson leads a bull around a pen as he visits Darnford Farm near Aberdeen, Scotland, in September 2019. Getty Images
    Mr Johnson leads a bull around a pen as he visits Darnford Farm near Aberdeen, Scotland, in September 2019. Getty Images
  • Former US president Donald Trump and Mr Johnson arrive for a bilateral meeting during the G7 summit in August 2019, in Biarritz, France. Getty Images
    Former US president Donald Trump and Mr Johnson arrive for a bilateral meeting during the G7 summit in August 2019, in Biarritz, France. Getty Images
  • Queen Elizabeth welcomes Mr Johnson as the newly elected leader of the Conservative party and invites him to become prime minister and form a new government, at Buckingham Palace in July 2019. Getty Images
    Queen Elizabeth welcomes Mr Johnson as the newly elected leader of the Conservative party and invites him to become prime minister and form a new government, at Buckingham Palace in July 2019. Getty Images

The prime minister became the first in office to be given a fixed penalty fine ― for breaking lockdown rules ― as was his chancellor, Mr Sunak.

The much-awaited Sue Gray report on Partygate raised troubling questions on the abnegation of leadership at the top of government.

As the political temperature rose Mr Johnson went for an eight-day foreign summit dash to Germany, Rwanda and Spain hoping the international stage would provide respite and time to forget.

Alas, he arrived home to the brewing scandal involving groping allegations against his deputy chief whip, Chris Pincher.

His obfuscation tricks finally ran their course after Mr Johnson claimed he had not been warned about previous complaints against Mr Pincher, only for a retired senior civil servant to very publicly contradict him with irrefutable evidence.

Ministers bolted from his cabinet quicker than horses from a blazing stable. Holed up in the house upon which he had brought so much disrepute, Mr Johnson finally resigned in July.

A scorching summer of endless leadership debates ensued.

Queen Elizabeth II with Liz Truss at Balmoral, where she invited the Conservative leader to form a new government. PA
Queen Elizabeth II with Liz Truss at Balmoral, where she invited the Conservative leader to form a new government. PA

The winner, Ms Truss, travelled to Balmoral Castle to formally take power only for Queen Elizabeth II to die two days later.

Mourning and world leaders descended on London, forcing a political hiatus. The queen was buried and Ms Truss unearthed her baffling policy of unfunded tax cuts to stimulate growth.

The markets disagreed, the pound crashed, as did many mortgages and she was out of office within 50 days.

Mr Sunak became the first British-Asian prime minister, his main focus to repair the damage of the last two incumbents.

Stability of sorts arrived, bar the possibility of a general strike by public sector workers on top of a cold snap that could well test Britain’s energy resources.

Mr Johnson’s promise of Christmas cheer in 2022 suffered the same fate as most of his pledges. Yet there is some optimism that his cherished Brexit may be heading to a sensible conclusion.

A more balanced relationship between Mr Sunak and Europe’s leaders could at last deliver an agreement in 2023 that resolves much of the distrust and lost trading opportunities.

Rishi Sunak wins battle to become UK prime minister - in pictures

  • Britain's new Prime Minister Rishi Sunak delivers a speech outside Number 10 Downing Street. Reuters
    Britain's new Prime Minister Rishi Sunak delivers a speech outside Number 10 Downing Street. Reuters
  • King Charles III invites Mr Sunak to become prime minister and form a new government in an audience at Buckingham Palace. PA
    King Charles III invites Mr Sunak to become prime minister and form a new government in an audience at Buckingham Palace. PA
  • Mr Sunak promised to bring stability amid what he called a “profound economic crisis”. PA
    Mr Sunak promised to bring stability amid what he called a “profound economic crisis”. PA
  • The new prime minister is applauded as he enters Number 10. Photo: Simon Walker/ No 10 Downing Street
    The new prime minister is applauded as he enters Number 10. Photo: Simon Walker/ No 10 Downing Street
  • Mr Sunak is greeted by Cabinet Secretary and Head of the Civil Service Simon Case as he enters 10 Downing Street. AFP
    Mr Sunak is greeted by Cabinet Secretary and Head of the Civil Service Simon Case as he enters 10 Downing Street. AFP
  • A worker loads a removal van with boxes outside 10 Downing Street. Reuters
    A worker loads a removal van with boxes outside 10 Downing Street. Reuters
  • Members of the public wait for the arrival of Mr Sunak near Downing Street. AP
    Members of the public wait for the arrival of Mr Sunak near Downing Street. AP
  • Staff in the Foreign and Commonwealth Office watch from the windows as Mr Sunak arrives in Downing Street. PA
    Staff in the Foreign and Commonwealth Office watch from the windows as Mr Sunak arrives in Downing Street. PA
  • An Indian artist in Mumbai creates a painting to congratulate Mr Sunak on becoming prime minister. EPA
    An Indian artist in Mumbai creates a painting to congratulate Mr Sunak on becoming prime minister. EPA
  • Mr Sunak arrives at Buckingham Palace. PA
    Mr Sunak arrives at Buckingham Palace. PA
  • Incoming prime minister Rishi Sunak arrives at the Conservative Party's headquarters with a wave. AFP
    Incoming prime minister Rishi Sunak arrives at the Conservative Party's headquarters with a wave. AFP
  • Rishi Sunak is greeted by colleagues upon his arrival. AFP
    Rishi Sunak is greeted by colleagues upon his arrival. AFP
  • Conservative MPs applaud as Rishi Sunak arrives. Reuters
    Conservative MPs applaud as Rishi Sunak arrives. Reuters
  • Rishi Sunak departs after making a statement inside the Conservative Party's headquarters. PA
    Rishi Sunak departs after making a statement inside the Conservative Party's headquarters. PA
  • Mr Sunak meets the 1922 Committee in Parliament after he was announced as the new leader of the Conservative Party when Penny Mordaunt dropped out. PA
    Mr Sunak meets the 1922 Committee in Parliament after he was announced as the new leader of the Conservative Party when Penny Mordaunt dropped out. PA
  • Sir Graham Brady, chairman of the 1922 Committee, announces Mr Sunak as the new leader of the Conservatives and therefore the prime minister. PA
    Sir Graham Brady, chairman of the 1922 Committee, announces Mr Sunak as the new leader of the Conservatives and therefore the prime minister. PA
  • Members of the media work outside No 10 Downing Street, the official residence of Britain's prime minister, in central London, as they await announcements. AFP
    Members of the media work outside No 10 Downing Street, the official residence of Britain's prime minister, in central London, as they await announcements. AFP
  • Mr Sunak leaves his campaign office in London. AP
    Mr Sunak leaves his campaign office in London. AP
  • A billboard of Liz Truss, the departing prime minister, in London. Bloomberg
    A billboard of Liz Truss, the departing prime minister, in London. Bloomberg
  • Members of the public look through the gates into Downing Street. Reuters
    Members of the public look through the gates into Downing Street. Reuters
  • Mr Sunak leaves his home in London on Monday morning. AFP
    Mr Sunak leaves his home in London on Monday morning. AFP
  • Leader of the House of Commons and Conservative leadership candidate Penny Mordaunt speaks to the media on Sunday. Ms Mordaunt pulled out of the race moments before the deadline for nominations. PA
    Leader of the House of Commons and Conservative leadership candidate Penny Mordaunt speaks to the media on Sunday. Ms Mordaunt pulled out of the race moments before the deadline for nominations. PA
GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

Mina Cup winners

Under 12 – Minerva Academy

Under 14 – Unam Pumas

Under 16 – Fursan Hispania

Under 18 – Madenat

Tips for job-seekers
  • Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
  • Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.

David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East

Dust and sand storms compared

Sand storm

  • Particle size: Larger, heavier sand grains
  • Visibility: Often dramatic with thick "walls" of sand
  • Duration: Short-lived, typically localised
  • Travel distance: Limited 
  • Source: Open desert areas with strong winds

Dust storm

  • Particle size: Much finer, lightweight particles
  • Visibility: Hazy skies but less intense
  • Duration: Can linger for days
  • Travel distance: Long-range, up to thousands of kilometres
  • Source: Can be carried from distant regions
Skoda Superb Specs

Engine: 2-litre TSI petrol

Power: 190hp

Torque: 320Nm

Price: From Dh147,000

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Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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WHAT IS A BLACK HOLE?

1. Black holes are objects whose gravity is so strong not even light can escape their pull

2. They can be created when massive stars collapse under their own weight

3. Large black holes can also be formed when smaller ones collide and merge

4. The biggest black holes lurk at the centre of many galaxies, including our own

5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed

Bio:

Favourite Quote: Prophet Mohammad's quotes There is reward for kindness to every living thing and A good man treats women with honour

Favourite Hobby: Serving poor people 

Favourite Book: The Alchemist by Paulo Coelho

Favourite food: Fish and vegetables

Favourite place to visit: London

Hamilton’s 2017

Australia - 2nd; China - 1st; Bahrain - 2nd; Russia - 4th; Spain - 1st; Monaco - 7th; Canada - 1st; Azerbaijan - 5th; Austria - 4th; Britain - 1st; Hungary - 4th; Belgium - 1st; Italy - 1st; Singapore - 1st; Malaysia - 2nd; Japan - 1st; United States - 1st; Mexico - 9th

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

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)
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Springsteen: Deliver Me from Nowhere

Director: Scott Cooper

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BEACH SOCCER WORLD CUP

Group A

Paraguay
Japan
Switzerland
USA

Group B

Uruguay
Mexico
Italy
Tahiti

Group C

Belarus
UAE
Senegal
Russia

Group D

Brazil
Oman
Portugal
Nigeria

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First Person
Richard Flanagan
Chatto & Windus 

T20 WORLD CUP QUALIFIER

Results

UAE beat Nigeria by five wickets

Hong Kong beat Canada by 32 runs

Friday fixtures

10am, Tolerance Oval, Abu Dhabi – Ireland v Jersey

7.30pm, Zayed Cricket Stadium, Abu Dhabi – Canada v Oman

How to keep control of your emotions

If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.

Greed

Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.

Tip: Ignore the short-term hype, noise and froth and invest for the long-term plan, based on sound fundamentals.

Fear

The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.

Tip: Start with a plan, and stick to it. For added security, consider placing stops to reduce any losses and limits to lock in profits.

Hope

While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.

Tip: Set realistic goals. Be happy with what you have earned, rather than frustrated by what you could have earned.

Frustration

Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.

Tip: Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.

Boredom

Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.

Tip: Open an online demo account and get your thrills without risking real money.

Stamp%20duty%20timeline
%3Cp%3E%3Cstrong%3EDecember%202014%3A%3C%2Fstrong%3E%20%20Former%20UK%20chancellor%20of%20the%20Exchequer%20George%20Osborne%20reforms%20stamp%20duty%20land%20tax%20(SDLT)%2C%20replacing%20the%20slab%20system%20with%20a%20blended%20rate%20scheme%2C%20with%20the%20top%20rate%20increasing%20to%2012%20per%20cent%20from%2010%20per%20cent%3A%3C%2Fp%3E%0A%3Cp%3EUp%20to%20%C2%A3125%2C000%20%E2%80%93%200%25%3B%20%C2%A3125%2C000%20to%20%C2%A3250%2C000%20%E2%80%93%202%25%3B%20%C2%A3250%2C000%20to%20%C2%A3925%2C000%20%E2%80%93%205%25%3B%20%C2%A3925%2C000%20to%20%C2%A31.5m%3A%2010%25%3B%20More%20than%20%C2%A31.5m%20%E2%80%93%2012%25%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EApril%202016%3A%3C%2Fstrong%3E%20New%203%25%20surcharge%20applied%20to%20any%20buy-to-let%20properties%20or%20additional%20homes%20purchased.%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EJuly%202020%3A%3C%2Fstrong%3E%20Chancellor%20Rishi%20Sunak%20unveils%20SDLT%20holiday%2C%20with%20no%20tax%20to%20pay%20on%20the%20first%20%C2%A3500%2C000%2C%20with%20buyers%20saving%20up%20to%20%C2%A315%2C000.%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMarch%202021%3A%3C%2Fstrong%3E%20Mr%20Sunak%20extends%20the%20SDLT%20holiday%20at%20his%20March%203%20budget%20until%20the%20end%20of%20June.%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EApril%202021%3A%3C%2Fstrong%3E%202%25%20SDLT%20surcharge%20added%20to%20property%20transactions%20made%20by%20overseas%20buyers.%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EJune%202021%3A%3C%2Fstrong%3E%20SDLT%20holiday%20on%20transactions%20up%20to%20%C2%A3500%2C000%20expires%20on%20June%2030.%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EJuly%202021%3A%3C%2Fstrong%3E%20Tax%20break%20on%20transactions%20between%20%C2%A3125%2C000%20to%20%C2%A3250%2C000%20starts%20on%20July%201%20and%20runs%20until%20September%2030.%3C%2Fp%3E%0A
Leaderboard

63 - Mike Lorenzo-Vera (FRA)

64 - Rory McIlroy (NIR)

66 - Jon Rahm (ESP)

67 - Tom Lewis (ENG), Tommy Fleetwood (ENG)

68 - Rafael Cabrera-Bello (ESP), Marcus Kinhult (SWE)

69 - Justin Rose (ENG), Thomas Detry (BEL), Francesco Molinari (ITA), Danny Willett (ENG), Li Haotong (CHN), Matthias Schwab (AUT)

The specs

AT4 Ultimate, as tested

Engine: 6.2-litre V8

Power: 420hp

Torque: 623Nm

Transmission: 10-speed automatic

Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)

On sale: Now

Keane on …

Liverpool’s Uefa Champions League bid: “They’re great. With the attacking force they have, for me, they’re certainly one of the favourites. You look at the teams left in it - they’re capable of scoring against anybody at any given time. Defensively they’ve been good, so I don’t see any reason why they couldn’t go on and win it.”

Mohamed Salah’s debut campaign at Anfield: “Unbelievable. He’s been phenomenal. You can name the front three, but for him on a personal level, he’s been unreal. He’s been great to watch and hopefully he can continue now until the end of the season - which I’m sure he will, because he’s been in fine form. He’s been incredible this season.”

Zlatan Ibrahimovic’s instant impact at former club LA Galaxy: “Brilliant. It’s been a great start for him and for the club. They were crying out for another big name there. They were lacking that, for the prestige of LA Galaxy. And now they have one of the finest stars. I hope they can go win something this year.”

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.”

How much do leading UAE’s UK curriculum schools charge for Year 6?
  1. Nord Anglia International School (Dubai) – Dh85,032
  2. Kings School Al Barsha (Dubai) – Dh71,905
  3. Brighton College Abu Dhabi - Dh68,560
  4. Jumeirah English Speaking School (Dubai) – Dh59,728
  5. Gems Wellington International School – Dubai Branch – Dh58,488
  6. The British School Al Khubairat (Abu Dhabi) - Dh54,170
  7. Dubai English Speaking School – Dh51,269

*Annual tuition fees covering the 2024/2025 academic year

The Voice of Hind Rajab

Starring: Saja Kilani, Clara Khoury, Motaz Malhees

Director: Kaouther Ben Hania

Rating: 4/5

MATCH INFO

Rajasthan Royals 158-8 (20 ovs)
Kings XI Punjab 143/7 (20 ovs)

Rajasthan Royals won by 15 runs

DEADPOOL & WOLVERINE

Starring: Ryan Reynolds, Hugh Jackman, Emma Corrin

Director: Shawn Levy

Rating: 3/5

ENGLAND SQUAD

Goalkeepers: Jack Butland, Jordan Pickford, Nick Pope 
Defenders: John Stones, Harry Maguire, Phil Jones, Kyle Walker, Kieran Trippier, Gary Cahill, Ashley Young, Danny Rose, Trent Alexander-Arnold 
Midfielders: Eric Dier, Jordan Henderson, Dele Alli, Jesse Lingard, Raheem Sterling, Ruben Loftus-Cheek, Fabian Delph 
Forwards: Harry Kane, Jamie Vardy, Marcus Rashford, Danny Welbeck

Updated: December 28, 2022, 11:37 PM