UAE astronaut Sultan Al Neyadi has shared his first selfies taken from inside the International Space Station. Photo: Sultan Al Neyadi Twitter
UAE astronaut Sultan Al Neyadi has shared his first selfies taken from inside the International Space Station. Photo: Sultan Al Neyadi Twitter
UAE astronaut Sultan Al Neyadi has shared his first selfies taken from inside the International Space Station. Photo: Sultan Al Neyadi Twitter
UAE astronaut Sultan Al Neyadi has shared his first selfies taken from inside the International Space Station. Photo: Sultan Al Neyadi Twitter

A history of the past 15 years: from Obama’s US presidency to an Emirati in space


James Langton
  • English
  • Arabic

Looking in the rear-view mirror amid the turbulence of 2023, the year 2008 may seem a time of innocence and even sunlit optimism.

In the year The National was launched, the US – too long tainted by toxic racism – would make Barack Obama its first black president. Adventurous tourists were booking tickets to visit Yemen’s historic Sanaa, the glories of Palmyra in Syria and even Kabul in Afghanistan.

China hosted the Summer Olympics and welcomed the world. And Isis was the name of an Egyptian goddess or one a set of trendy parents might choose for their daughter.

That, of course, is not even half the story. The storm clouds of the past 15 years were already gathering. In November, an attack in Mumbai by the extremist group Lashkar-e-Taiba lasted three days and left 175 dead.

Former US president Barack Obama and his wife Michelle arrive at the We Are One concert, part of his inauguration celebrations, on January 18, 2009. AFP
Former US president Barack Obama and his wife Michelle arrive at the We Are One concert, part of his inauguration celebrations, on January 18, 2009. AFP

A month later, Israel would launch a brutal, three-week assault on Gaza that left widespread destruction and killed more than 1,000 Palestinians.

Rumbling throughout the year was the beginning of a financial crisis that would become known as the Great Recession. Caused in large part by reckless lending in

the US housing market, the storm broke with the collapse of Lehman Brothers in September and spread, like a virus, through the global financial system.

That year will also be remembered for the end of Sri Lanka’s civil war with the defeat of the Tamil Tigers. An outbreak of H1N1 swine flu, originating in the US, was declared a global pandemic, but did not cause much concern. It was also the year Michael Jackson died.

There was much excitement in January 2010 with the inauguration of Burj Khalifa that, at 829.8 metres, was by far the tallest building in the world. Just four months earlier was the debut of the Dubai Metro – both signals that the city was looking forward.

Less welcome news came with the eruption of the Icelandic volcano newsreaders struggled to pronounce. Ash from Eyjafjallajokull would shut down international air travel for nearly two weeks in April. Among the stranded passengers was the singer Tom Jones, who had been performing in Abu Dhabi.

The volcano in southern Iceland's Eyjafjallajokull glacier sends ash into the air shortly before sunset in April 2010. AP
The volcano in southern Iceland's Eyjafjallajokull glacier sends ash into the air shortly before sunset in April 2010. AP

Another reminder of nature’s power was the catastrophic Haiti earthquake in January 2010, which left at least 130,000 dead. About a year later, another quake, and the resulting tsunami, would devastate the east coast of Japan, leaving nearly 20,000 dead. The natural disaster was compounded by the near meltdown of the Fukushima nuclear reactor.

But it was the actions of a single man in late 2010 that would have the most profound effect, one still felt today.

Driven to despair at continuous police harassment, poor Tunisian street seller Mohamed Bouazizi died by suicide by setting himself on fire.

Bouazizi’s death would set in motion a series of Arab uprisings – protests calling for reforms and rights would see long-established regimes and leaders challenged.

Tunisia’s Zine El Abidine Ben Ali would be the first to go, with demonstrations in Cairo’s Tahir Square then leading to the fall of Egypt’s president Hosni Mubarak in February 2010.

Egyptians celebrate the resignation of president Hosni Mubarak in Tahrir Square, Cairo, in February 2011. AP
Egyptians celebrate the resignation of president Hosni Mubarak in Tahrir Square, Cairo, in February 2011. AP

Protests in Libya would lead to the unthinkable – the fall and death of Muammar Qaddafi, the country’s effective leader since the 1960s, and the start of turmoil that continues to this day.

In Syria, President Bashar Al Assad began to unleash his army on his opponents, and by mid-2012, Aleppo was the scene of a bloody and protracted siege. Amid allegations of chemical weapons use by his forces, the flood of refugees turned into a torrent.

Across the border, in Iraq, a new horror was emerging: ISIS. The terrorist group had many names but one goal: the enforcing of an extreme and twisted version of Islam and proclaiming of a worldwide caliphate.

Emerging from the Iraqi insurgency that followed the 2003 US-led invasion, ISIS exploited the enveloping chaos. Gathering strength in 2013, extremists captured Mosul within a year and threatened Baghdad. Mass executions were their hallmark, while historic monuments including Mosul’s tomb of Jonah and the 850-year-old Al Hadba Minaret of Al Nuri Mosque were destroyed. In 2015, it was the turn of Palmyra, the Roman city and world heritage site.

Ancient buildings were reduced to rubble and the Roman amphitheatre turned into a grotesque forum for public executions, with victims including the site’s 82-year-old archeologist, Khaled Al Asaad, beheaded for refusing to reveal where he had hidden valuable artefacts. An international coalition was formed to combat ISIS, with the US joined by five Arab allies, including the UAE. Female Emirati pilot Mariam Al Mansouri led the air strikes in her F-16 Fighting Falcon, a powerful message that rejected the oppression of women and warped values of the extremists.

Fighter pilot Major Mariam Al Mansouri led air strikes against ISIS militants in Syria. Wam
Fighter pilot Major Mariam Al Mansouri led air strikes against ISIS militants in Syria. Wam

By 2016, the tide was turning, with ISIS driven out of Mosul by early 2017, its so-called caliphate reduced to a dwindling patch of land, its fighters dead or captured.

But its influence was less easily contained. A series of terrorist attacks by ISIS and its supporters killed hundreds across Europe. Suicide bombers killed 137 in Paris in November 2015 and eight journalists at the magazine Charlie Hebdo the same year. Young concert-goers enjoying a performance by Ariana Grande were killed by another suicide bomber at the UK’s Manchester Arena in May 2017, an attack that left 22 dead and 250 injured.

In this uncertain world, a new breed of populist politicians emerged. At the forefront of these was the bombastic and confrontational, loved by his supporters and equally loathed by opponents, 45th US president Donald Trump, who seems a perfect symbol of what often seems a chaotic past five years.

From the growing threat of the climate crisis, to the desperate plight of refugees fleeing Africa and the Middle East, the return of the Taliban in Afghanistan, the nuclear ambitions of Iran and North Korea, the impression is of a world slipping out of our control. Above all, there was the Covid-19 pandemic, emerging in late 2019, and shutting the world down for more than two years, leaving millions dead and entire economies in ruins.

Now there is war in Ukraine and a global energy shock that has driven inflation, threatened the banking sector and heightened international tensions to a level not seen since the Cold War.

Destroyed Russian tanks in Bucha on the outskirts of Kyiv, Ukraine, in April 2022. AP
Destroyed Russian tanks in Bucha on the outskirts of Kyiv, Ukraine, in April 2022. AP

It is not a pretty picture, as The National turns 15. But it is not the whole story. Even the worst storms are interspaced with sunshine, and there has been plenty of good news since 2008.

Even the pandemic was, in the end, a triumph for science, with medical breakthroughs on vaccinations that have enormous potential for other diseases.

The global community continues to work towards halting climate change, coming together again later this year at Cop28 in Dubai.

The UAE can also reflect on its achievements, from the visit of Pope Francis in 2019 to Expo 2020 Dubai.

In science, there was the Hope probe to Mars in 2021, the first by an Arab nation, and the first UAE astronaut, Hazza Al Mansouri, in 2019, now followed by Sultan Al Neyadi, currently carrying out the first long-term mission on the International Space Station by an Emirati.

In a few days, Al Neyadi will become the first Arab astronaut to walk in space, looking down from 400km at the place all seven billion of us call home. It is a moment to reflect on how far we have come, and how far we might go in the next 15 years.

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.”

Specs

Engine: 51.5kW electric motor

Range: 400km

Power: 134bhp

Torque: 175Nm

Price: From Dh98,800

Available: Now

The specs

Engine: 4.0-litre V8 twin-turbocharged and three electric motors

Power: Combined output 920hp

Torque: 730Nm at 4,000-7,000rpm

Transmission: 8-speed dual-clutch automatic

Fuel consumption: 11.2L/100km

On sale: Now, deliveries expected later in 2025

Price: expected to start at Dh1,432,000

So what is Spicy Chickenjoy?

Just as McDonald’s has the Big Mac, Jollibee has Spicy Chickenjoy – a piece of fried chicken that’s crispy and spicy on the outside and comes with a side of spaghetti, all covered in tomato sauce and topped with sausage slices and ground beef. It sounds like a recipe that a child would come up with, but perhaps that’s the point – a flavourbomb combination of cheap comfort foods. Chickenjoy is Jollibee’s best-selling product in every country in which it has a presence.
 

Global state-owned investor ranking by size

1.

United States

2.

China

3.

UAE

4.

Japan

5

Norway

6.

Canada

7.

Singapore

8.

Australia

9.

Saudi Arabia

10.

South Korea

12%20restaurants%20opening%20at%20the%20hotel%20this%20month
%3Cp%3EAriana%E2%80%99s%20Persian%20Kitchen%3Cbr%3EDinner%20by%20Heston%20Blumenthal%3Cbr%3EEstiatorio%20Milos%3Cbr%3EHouse%20of%20Desserts%3Cbr%3EJaleo%20by%20Jose%20Andres%3Cbr%3ELa%20Mar%3Cbr%3ELing%20Ling%3Cbr%3ELittle%20Venice%20Cake%20Company%3Cbr%3EMalibu%2090265%3Cbr%3ENobu%20by%20the%20Beach%3Cbr%3EResonance%20by%20Heston%20Blumenthal%3Cbr%3EThe%20Royal%20Tearoom%C2%A0%3C%2Fp%3E%0A

Schedule:

Pakistan v Sri Lanka:
28 Sep-2 Oct, 1st Test, Abu Dhabi
6-10 Oct, 2nd Test (day-night), Dubai
13 Oct, 1st ODI, Dubai
16 Oct, 2nd ODI, Abu Dhabi
18 Oct, 3rd ODI, Abu Dhabi
20 Oct, 4th ODI, Sharjah
23 Oct, 5th ODI, Sharjah
26 Oct, 1st T20I, Abu Dhabi
27 Oct, 2nd T20I, Abu Dhabi
29 Oct, 3rd T20I, Lahore

MATCH INFO

Uefa Champions League semi-finals, second leg:

Liverpool (0) v Barcelona (3), Tuesday, 11pm UAE

Game is on BeIN Sports

MATCH INFO

Fixture: Thailand v UAE, Tuesday, 4pm (UAE)

TV: Abu Dhabi Sports

MATCH RESULT

Liverpool 4 Brighton and Hove Albion 0
Liverpool: 
Salah (26'), Lovren (40'), Solanke (53'), Robertson (85')    

Updated: April 16, 2023, 8:01 PM