Follow the latest news on the 2024 Paris Olympics
Well before the Paris 2024 Olympics had started, athletes were predicting these Games would be different.
Repeat Olympians were excited about competing in front of fans once again, after performing in front of empty stands at the pandemic-affected Tokyo 2020.
For Arabs, Paris 2024 was different, but not just because of the atmosphere.
Under the shadow of the horrific war in Gaza, these Games gave Palestinians a voice and a platform. Eight athletes represented Palestine in swimming, taekwondo, boxing, athletics, judo, and shooting.
In taekwondo, Omar Ismail won his qualification bout in the -58kg category before falling to the division’s second seed in the round of 16. On the track, Layla Almasri set a new national record in the 800m heats. In the pool, Yazan Al Bawwab dove into the water with the Palestinian flag not just on his swim cap but also tattooed on his chest.
“I'm one of eight people [competing for Palestine at the Olympics]. We have 15 million Palestinians scattered around the world. I'm just one that's able to be here to represent a voice of the people that are not heard,” Al Bawwab told France 24 after his event.
“Sports is one of those tools that I'm trying to use to get the humanity out of the world, because we're not treated as human beings right now.”
Elsewhere, Algerian boxer Imane Khelif found herself embroiled in a fight that extended well beyond the ring. The 25-year-old clinched welterweight gold in unimaginable circumstances. Misgendered, disrespected, and unfairly scrutinised, Khelif was the subject of an enormous amount of abuse but rose above it all to make history as the first Algerian, African, and Arab woman to win boxing gold at an Olympic Games.
“I sent them a message with this gold medal, and I say my dignity has been restored and my honour is above anything else,” she said after her victory.
Khelif handled the firestorm with such grace, and walked away a champion in and out of the ring. Her experience raises important questions about misinformation and cyber bullying, and her decision to take legal action against her online attackers can hopefully lead to much-needed change in the social media space.
Khelif was one of seven gold medallists from the Arab world in Paris – which is the highest tally for athletes representing Arab countries at any Olympic Games.
France-born Algerian Kaylia Nemour made history at just 17 years of age, becoming Africa’s first-ever Olympic medallist in gymnastics with a gold-medal effort in uneven bars.
Tunisia’s Firas Katoussi cemented the Arab world’s status as a rising force in taekwondo, his gold in -80kg being one of three medals scooped by Mena athletes in the sport. Jordan’s Zaid Kareem clinched silver in -68kg, while Tokyo 2020 silver medallist Mohamed Khalil Jendoubi made the podium once again in -58kg, this time taking bronze.
Jendoubi wasn’t the only Arab to become a multiple-time Olympic medallist – a sign that many of the athletes from the region are firmly establishing themselves on the global sports map and aren’t one-time wonders or fluke champions.
Morocco’s Soufiane El Bakkali successfully defended his gold medal in 3,000m steeplechase, coming from behind to make a late charge and secure first place in a difficult race at the Stade de France.
Egypt’s Ahmed Elgendy set a world record of 1,555 points to top the podium in modern pentathlon, three years after he won silver in Tokyo to become Africa’s first Olympic medallist in the sport.
Competing in his final Games, Qatar’s Mutaz Barshim became the most decorated high jumper in Olympic history, securing his legacy with a fourth Olympic medal – a bronze to go with the gold he won in Tokyo and the two silvers he scooped in Rio 2016 and London 2012.
No athlete has ever won four Olympic high jump medals. The 33-year-old did a lap of honour on Saturday, fittingly wearing a crown on his head.
“My feelings of pride today are beyond words,” Barshim wrote on Instagram.
“I had the honor of raising my country’s flag in four Olympic Games, earning four medals. With this Olympic Games, I conclude my Olympic journey, and I am truly happy to have stood on the podium in all my participations.”
Egyptian weightlifter Sara Ahmed won the silver medal in 81kg, eight years after she clinched bronze in Rio as an 18-year-old. She briefly held the Olympic record in clean and jerk on Saturday before Norway’s Solfrid Koanda rebroke it to secure the gold.
A telling moment came after the weightlifting competition was over as Ahmed broke into tears, not of joy, but in agony over missing out on the gold.
Her journey in the sport saw her go through a two-year ban along with all weightlifters from her country as well as the Egyptian Weightlifting Federation, which forced her to miss Tokyo 2020. When she returned to action, she won gold at the 2022 and 2023 World Championships and arrived in Paris adamant on topping the podium.
Her reaction to settling for silver spoke volumes of her champion’s mentality, one that she shares with many of the Arab athletes who fell short at these Games.
You could see it on the face of Jordanian taekwondo practitioner Rama Abo Alrub, who came close to upsetting Turkish No 1 seed Nafia Kus and fell to the ground in despair when she lost their close bout in the quarter-finals.
The same goes for Dunya Abutaleb, who battled for bronze but lost to the No 7 seed in taekwondo’s -49kg division, missing out on a chance to become Saudi Arabia’s first female Olympic medallist.
“This is not the end of the road, this is just the beginning,” Abutaleb wrote on Instagram, committing to a new journey towards the LA 2028 Olympics. “I now close the chapter on the last four years and start today on the road for the next four years.”
But even in disappointment, one can sense a shift in the direction sport in the Arab world is heading. Athletes are no longer satisfied by just qualifying for the Olympics. They want medals and podiums. They believe they can contend with the very best and are devastated when they fall short.
The Arab contingent claimed a total of 17 medals in nine different sports in Paris. There’s enough reason to believe we can expect much more to come in four years’ time.
Paris 2024 - best pictures
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.
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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.
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The story in numbers
18
This is how many recognised sects Lebanon is home to, along with about four million citizens
450,000
More than this many Palestinian refugees are registered with UNRWA in Lebanon, with about 45 per cent of them living in the country’s 12 refugee camps
1.5 million
There are just under 1 million Syrian refugees registered with the UN, although the government puts the figure upwards of 1.5m
73
The percentage of stateless people in Lebanon, who are not of Palestinian origin, born to a Lebanese mother, according to a 2012-2013 study by human rights organisation Frontiers Ruwad Association
18,000
The number of marriages recorded between Lebanese women and foreigners between the years 1995 and 2008, according to a 2009 study backed by the UN Development Programme
77,400
The number of people believed to be affected by the current nationality law, according to the 2009 UN study
4,926
This is how many Lebanese-Palestinian households there were in Lebanon in 2016, according to a census by the Lebanese-Palestinian dialogue committee
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Visa changes give families fresh hope
Foreign workers can sponsor family members based solely on their income
Male residents employed in the UAE can sponsor immediate family members, such as wife and children, subject to conditions that include a minimum salary of Dh 4,000 or Dh 3,000 plus accommodation.
Attested original marriage certificate, birth certificate of the child, ejari or rental contract, labour contract, salary certificate must be submitted to the government authorised typing centre to complete the sponsorship process
In Abu Dhabi, a woman can sponsor her husband and children if she holds a residence permit stating she is an engineer, teacher, doctor, nurse or any profession related to the medical sector and her monthly salary is at least Dh 10,000 or Dh 8,000 plus accommodation.
In Dubai, if a woman is not employed in the above categories she can get approval to sponsor her family if her monthly salary is more than Dh 10,000 and with a special permission from the Department of Naturalization and Residency Dubai.
To sponsor parents, a worker should earn Dh20,000 or Dh19,000 a month, plus a two-bedroom accommodation
The 12
England
Arsenal, Chelsea, Liverpool, Manchester City, Manchester United, Tottenham Hotspur
Italy
AC Milan, Inter Milan, Juventus
Spain
Atletico Madrid, Barcelona, Real Madrid
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.”
MATCH INFO
Real Madrid 2
Vinicius Junior (71') Mariano (90 2')
Barcelona 0
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Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
