When India's Tata Group bought Britain's ailing steelmaker Corus for about £4 billion (Dh23.94bn) nearly five years ago, many observers were nonplussed.
For many this was the empire striking back in ways that seemed unimaginable at the time of India's independence in 1947.
Then, India was a poor country, dependent on agriculture, and a recipient of food aid.
In the decades that followed, India built a state-dominated domestic industrial base in which local entrepreneurs such as Tata thrived, but their growth was severely limited because of restrictions imposed by socialist-minded leaders.
That changed in 1991, when India liberalised its economy. Within a few years, Indian businesses began making aggressive forays overseas, investing in a wide range of industries, such as cars, tea plantations, pharmaceuticals and steel manufacturing.
In 2006, the year Tata invested in Corus, Indian companies had made more than 130 acquisitions abroad,totalling an estimated US$18bn (Dh66.11bn) in value.
What sort of management would Tata provide? When Tata took over Corus, the group's head, septuagenarian Ratan Tata, reassured British unions, saying his group had a tradition of investing for the long haul, and many pointed out Tata's record of industrial relations, where strikes and strife were exceptions.
Which is why British unions, opposition Labour Party politicians, and other industry experts were surprised when Tata cut 1,500 jobs at Corus's plants in chronically depressed north-east England, in Scunthorpe and Teesside, soon after shedding 2,500 jobs in 2009.
Union leaders called the cuts "a devastating blow". The losses amounted to nearly a twelfth of the company's workforce and came on top of cuts made in 2009 at Jaguar Land Rover, the car and utility vehicle company, which Tata also owns. (In an ironic twist in the post-colonial world, Tata is now Britain's biggest manufacturing employer.)
In a sense, the cutbacks were not surprising: steel demand has been falling in the UK since 2007, and has not shown any signs of an upturn. But what many in Britain found galling were the remarks Ratan Tata was said to have made - such as British managers were lazy - in a wide-ranging interview with The Times. Since then, Mr Tata has backtracked, saying he was misreported by the newspaper.
Nonetheless, the questions Mr Tata raised - or did not raise - should be noted by British industry.
Tata executives have criticised the UK's EU-inspired environmental policies. European taxes on carbon emissions, the company said, were significantly eroding business competitiveness at a time when similar restrictions did not cramp the style of steel makers outside Europe.
But Mr Tata also condemned - allegedly - the work practices of the company's middle management. He complained about the declining British work ethic, saying managers did not "go the extra mile", compared with their Indian counterparts and expressed bewilderment over executives watching the clock.
For anyone familiar with Victorian-era colonial administrators complaining about the lazy natives, Mr Tata's remarks - alleged remarks given his later retraction - only sharpened the irony.
In India, Tata is known as a benevolent employer, with some policies that might seem distinctly old-fashioned, even patronising.
His criticism about Britain was more pointed - with him being quoted as talking of a "certain comfort level that comes from a country that has had good times".
In this, Britain is not alone: France's obsession with the 35-hour work week; the near-total shutdown of Europe during the summer months; the strict employment regulations on the continent that discourage small businesses from hiring more people; and generous welfare benefits should things go wrong, have made life for workers in Europe more cushy than their counterparts enjoy elsewhere.
The safety net has tamed the keenness workers and managers need to possess to retain their high-paying jobs. When Mr Tata calls for a resurgent national spirit, he almost sounds like a tub-thumping Tory.
British academics have rued declining UK productivity for a long time.
Economists have lamented that the country lags behind in skills upgrading and innovation. According to the latest figures available from the Organisation for Economic Co-operation and Development, in 2009 Britain ranked 15th out of the 30 OECD countries, measured by hourly output per worker.
Britain is aware of the decline and is making continuous efforts to boost its productivity and remain competitive.
Mr Tata's reported criticism drives home an important point, however, precisely the part Britain finds it hard to acknowledge - that the world has changed radically and fundamentally.
And Britain needs to watch out for competition from emerging powers such as India and China. In fact these countries are reoccupying the position they had in the global economy before the 500-year colonial interruption - a chastening reality for the western powers.
business@thenational.ae
The smuggler
Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple.
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.
Khouli conviction
Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.
For sale
A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.
- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico
- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000
- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EElmawkaa%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Hub71%2C%20Abu%20Dhabi%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Ebrahem%20Anwar%2C%20Mahmoud%20Habib%20and%20Mohamed%20Thabet%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20PropTech%3Cbr%3E%3Cstrong%3ETotal%20funding%3A%3C%2Fstrong%3E%20%24400%2C000%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3E500%20Startups%2C%20Flat6Labs%20and%20angel%20investors%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%2012%3Cbr%3E%3C%2Fp%3E%0A
UAE currency: the story behind the money in your pockets
Election pledges on migration
CDU: "Now is the time to control the German borders and enforce strict border rejections"
SPD: "Border closures and blanket rejections at internal borders contradict the spirit of a common area of freedom"
Difference between fractional ownership and timeshare
Although similar in its appearance, the concept of a fractional title deed is unlike that of a timeshare, which usually involves multiple investors buying “time” in a property whereby the owner has the right to occupation for a specified period of time in any year, as opposed to the actual real estate, said John Peacock, Head of Indirect Tax and Conveyancing, BSA Ahmad Bin Hezeem & Associates, a law firm.
Opening weekend Premier League fixtures
Weekend of August 10-13
Arsenal v Manchester City
Bournemouth v Cardiff City
Fulham v Crystal Palace
Huddersfield Town v Chelsea
Liverpool v West Ham United
Manchester United v Leicester City
Newcastle United v Tottenham Hotspur
Southampton v Burnley
Watford v Brighton & Hove Albion
Wolverhampton Wanderers v Everton
Fanney Khan
Producer: T-Series, Anil Kapoor Productions, ROMP, Prerna Arora
Director: Atul Manjrekar
Cast: Anil Kapoor, Aishwarya Rai, Rajkummar Rao, Pihu Sand
Rating: 2/5
Tips%20for%20travelling%20while%20needing%20dialysis
%3Cul%3E%0A%3Cli%3EInform%20your%20doctor%20about%20your%20plans.%C2%A0%3C%2Fli%3E%0A%3Cli%3EAsk%20about%20your%20treatment%20so%20you%20know%20how%20it%20works.%C2%A0%3C%2Fli%3E%0A%3Cli%3EPay%20attention%20to%20your%20health%20if%20you%20travel%20to%20a%20hot%20destination.%C2%A0%3C%2Fli%3E%0A%3Cli%3EPlan%20your%20trip%20well.%C2%A0%3C%2Fli%3E%0A%3C%2Ful%3E%0A
COMPANY%20PROFILE%20
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Dooda%20Solutions%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Lebanon%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3ENada%20Ghanem%0D%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20AgriTech%0D%3Cbr%3E%3Cstrong%3ETotal%20funding%3A%20%3C%2Fstrong%3E%24300%2C000%20in%20equity-free%20funding%0D%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%2011%3C%2Fp%3E%0A
UAE gold medallists:
Omar Al Suweidi (46kg), Khaled Al Shehhi (50kg), Khalifa Humaid Al Kaabi (60kg), Omar Al Fadhli (62kg), Mohammed Ali Al Suweidi (66kg), Omar Ahmed Al Hosani (73), all in the U18’s, and Khalid Eskandar Al Blooshi (56kg) in the U21s.
AndhaDhun
Director: Sriram Raghavan
Producer: Matchbox Pictures, Viacom18
Cast: Ayushmann Khurrana, Tabu, Radhika Apte, Anil Dhawan
Rating: 3.5/5
2020 Oscars winners: in numbers
- Parasite – 4
- 1917– 3
- Ford v Ferrari – 2
- Joker – 2
- Once Upon a Time ... in Hollywood – 2
- American Factory – 1
- Bombshell – 1
- Hair Love – 1
- Jojo Rabbit – 1
- Judy – 1
- Little Women – 1
- Learning to Skateboard in a Warzone (If You're a Girl) – 1
- Marriage Story – 1
- Rocketman – 1
- The Neighbors' Window – 1
- Toy Story 4 – 1
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
How green is the expo nursery?
Some 400,000 shrubs and 13,000 trees in the on-site nursery
An additional 450,000 shrubs and 4,000 trees to be delivered in the months leading up to the expo
Ghaf, date palm, acacia arabica, acacia tortilis, vitex or sage, techoma and the salvadora are just some heat tolerant native plants in the nursery
Approximately 340 species of shrubs and trees selected for diverse landscape
The nursery team works exclusively with organic fertilisers and pesticides
All shrubs and trees supplied by Dubai Municipality
Most sourced from farms, nurseries across the country
Plants and trees are re-potted when they arrive at nursery to give them room to grow
Some mature trees are in open areas or planted within the expo site
Green waste is recycled as compost
Treated sewage effluent supplied by Dubai Municipality is used to meet the majority of the nursery’s irrigation needs
Construction workforce peaked at 40,000 workers
About 65,000 people have signed up to volunteer
Main themes of expo is ‘Connecting Minds, Creating the Future’ and three subthemes of opportunity, mobility and sustainability.
Expo 2020 Dubai to open in October 2020 and run for six months
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
'HIJRAH%3A%20IN%20THE%20FOOTSTEPS%20OF%20THE%20PROPHET'
%3Cp%3E%3Cstrong%3EEdited%20by%3A%3C%2Fstrong%3E%20Idries%20Trevathan%3Cbr%3E%3Cstrong%3EPages%3A%3C%2Fstrong%3E%20240%3Cbr%3E%3Cstrong%3EPublisher%3A%3C%2Fstrong%3E%20Hirmer%20Publishers%3Cbr%3E%3Cstrong%3EAvailable%3A%3C%2Fstrong%3E%20Now%3C%2Fp%3E%0A
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Carzaty%2C%20now%20Kavak%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3ELaunch%20year%3A%20%3C%2Fstrong%3ECarzaty%20launched%20in%202018%2C%20Kavak%20in%20the%20GCC%20launched%20in%202022%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%20140%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20Automotive%3Cbr%3E%3Cstrong%3EFunding%3A%20%3C%2Fstrong%3ECarzaty%20raised%20%246m%20in%20equity%20and%20%244m%20in%20debt%3B%20Kavak%20plans%20%24130m%20investment%20in%20the%20GCC%3C%2Fp%3E%0A
