In our much divided, much troubled world, here’s something we can all probably agree on. The restoration of Notre Dame Cathedral in Paris is an astonishing triumph of engineering, art and talent under very difficult circumstances. And there’s reason for optimism because the restoration reminds us that humans can make a mess of things, but with good will and a bit of ingenuity we can also fix many of the problems we have caused.
The fact that world leaders – from US president-elect Donald Trump to Britain’s future monarch, Prince William, to Ukrainian President Volodymyr Zelenskyy (and of course French President Emmanuel Macron himself) gathered to witness the resurrection and rebirth of one of the world’s most magnificent buildings should remind us that when it comes to Gaza, Lebanon, Syria, Ukraine, disease, poverty, war and climate change, we have the capacity to fix the things that we too easily break.
The history of Notre Dame tells the optimistic side of that story. And it is also worth pointing out that this great positive act of rebuilding comes at a time when the government of France looks particularly shaky. Mr Macron’s political future is uncertain, his parliament and country deeply divided, yet France has restored a building that has existed for almost a millennium and may – we can hope – last for hundreds of years in the future.
The great mosques and cathedrals of the world are testaments to human optimism
The cathedral of “Our Lady” was constructed in the heart of Paris beginning in 1163 and completed – if cathedrals are ever truly “completed” since they constantly demand renovation – in 1260. The great mosques and cathedrals of the world are testaments to human optimism.
One generation begins the construction knowing that they will never live long enough to see the finished product. Religious buildings are therefore a gift from one generation to the next and to the many generations that follow. If that’s not a definition of optimism I don’t know what is.
Notre Dame was also the location for so many of the key moments in French history. These include the coronation of Napoleon, and the setting of that great novel by Victor Hugo The Hunchback of Notre Dame.
In April 2019, a suspected electrical fault (some say a careless thrown-away lit cigarette) led to a fire that burned for 15 hours. French friends at the time – including friends who are not especially religious – were devastated by the destruction. Some told me they feared the damage was so bad that it could never be repaired. But with an estimated $900 million in donations and an enormous effort Notre Dame has been repaired. Magnificently. The work will continue for some time, but the cathedral has reopened in a year when France also managed to deliver the spectacle of the Olympic and Paralympic Games and despite the political ructions around the Macron government.
There are lessons here for all of us.
The collapse of the government of Bashar Al Assad in Syria, the inability or unwillingness of the combatants in and around Israel and other zones of conflict to reach peaceful solutions, the fragility of governments in France, Germany and elsewhere remind us that it’s often easier to destroy rather than to build or rebuild.
In the closing weeks of Joe Biden’s presidency, the US has announced a new billion-dollar package of aid to Ukraine including drones and ammunition. The White House rushed the package through before Donald Trump’s inauguration and the uncertainty that brings for Ukraine, world trade and American domestic politics.
Yet Mr Trump used the Notre Dame reopening as an opportunity to show himself on the world stage along with Mr Zelenskyy and Mr Macron, and to meet Prince William. As we have seen from his first term, access and personal diplomacy count for a great deal with Mr Trump. He does deals rather than implement policies, but perhaps the Notre Dame get-together allows a bit of positive rebuilding of personal networks, too.
And so, as we reflect on 2024 and contemplate what may happen in 2025, there are reasons for hope amid the gloom.
Humans break things, but they can also build them back better. In the 1830s, an act of utter carelessness led to London’s Westminster parliament building burning down. The Victorians seized the opportunity to build back better, and the present-day magnificent home of the British parliament was the result.
In a similar act of carelessness, we are destroying the only planet any of us are ever likely to live on. Elon Musk may hope for having a space-jaunt to Mars, but I’m guessing that’s a very long way off. What we can realistically do is to repair damage in the real world by re-energising the Cop process, and try harder to end wars and other conflicts through ceasefires, diplomacy and positive work for peace.
The Notre Dame story should cheer us up. We know that humans can do wonderful things when we work together. It’s just a pity that it sometimes takes an act of destruction to energise our shared talents, imagination and optimism to make things better.
LA LIGA FIXTURES
Friday (UAE kick-off times)
Real Sociedad v Leganes (midnight)
Saturday
Alaves v Real Valladolid (4pm)
Valencia v Granada (7pm)
Eibar v Real Madrid (9.30pm)
Barcelona v Celta Vigo (midnight)
Sunday
Real Mallorca v Villarreal (3pm)
Athletic Bilbao v Levante (5pm)
Atletico Madrid v Espanyol (7pm)
Getafe v Osasuna (9.30pm)
Real Betis v Sevilla (midnight)
Classification of skills
A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation.
A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.
The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000.
Key findings of Jenkins report
- Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
- Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
- Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
- Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
Abu Dhabi traffic facts
Drivers in Abu Dhabi spend 10 per cent longer in congested conditions than they would on a free-flowing road
The highest volume of traffic on the roads is found between 7am and 8am on a Sunday.
Travelling before 7am on a Sunday could save up to four hours per year on a 30-minute commute.
The day was the least congestion in Abu Dhabi in 2019 was Tuesday, August 13.
The highest levels of traffic were found on Sunday, November 10.
Drivers in Abu Dhabi lost 41 hours spent in traffic jams in rush hour during 2019
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.”
Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
