If you so much as shared a drink at some point with American engineer and car executive John DeLorean between 1980 and 1982, you were subjected to an investigation by the United States and the British governments, such was his notoriety for unscrupulous business practices. Unfortunately for one Englishman, Colin Chapman, and his Lotus Cars company, the DeLorean DMC-12 sports car was conceived to feature chassis and suspension designs with Chapman’s signature on them.
Chapman, along with sidekick and accountant Fred Bushell, was a bit too close for comfort with DeLorean, and, after all, the British taxpayers put up £10 million (Dh59.6m) for the new DeLorean factory in Northern Ireland. Now the people wanted their money back, and Chapman was caught in the crossfire, undeniably involved in illegality.
When DeLorean was busted for drug dealing to help fund his beleaguered car company, he got off the hook, citing entrapment. Bushell served five years and never squeaked a word, while Chapman was looking at 10 years behind bars, according to a Belfast judge. Instead of the can, he got the coffin – Chapman died on December 16, 1982. Conspiracy theorists still claim he was poisoned with a dose of digitalis, all orchestrated by DeLorean to stop the Englishman from spilling everything to the British government.
The night before he died, Chapman dined and tapped to a jazz band with his wife, Hazel, and the Lotus Formula 1 team manager Peter Warr. There was no talk of DeLorean or the British government’s inquiries. In the morning, Chapman and his right-hand man Bushell flew to Paris for an FIA meeting at the famous Place de la Concorde. The following day, they were back home in England, and as soon as Chapman got home, around the corner from the company estate, he retired to bed and simply never woke up. The principal, most pioneering individual in British motorsport had died after a heart attack at the age of 54.
The call to the Lotus team came immediately. As Warr made the rounds giving everyone the devastating news, faces dropped; the “Guvnor” was gone, and just about no one said so much as a word for the rest of the day. But everyone wanted to say it; they all knew that it had to be said. How was Lotus to carry on?
Chapman was everything at Lotus, his involvement seeping into each nut and bolt of every race and road car bearing the famous green-and-gold badge. Yet the marque didn’t die with him. The following day, everyone in the team turned up at the factory as usual and just got on with the simple job of getting on. Lotus had cars to build and races to win.
Next month, they’re going on sale in the UAE, initially in Dubai, where Al Futtaim has set up a dealership that will sell the Evora and Evora S models, before a planned expansion of the range
It all began 30 years before, with £25 (Dh149) that Chapman borrowed from his fiancée to found Lotus Cars (he got the name from a bathroom fitting) in 1952, and by 1968 he’d swelled the pot into a million-pound empire. During his youth, Chapman had studied for a civil engineering degree, spent a year in the Royal Air Force and worked in the aluminium industry.
“There will always be a case for a relatively small, adaptable business to fill in the gap of big car manufacturers,” he once noted. “There’s always going to be a scope for a man who can offer something better.
“I don’t think you have to be ruthless [in business],” he continued, “But I think you have to be prepared to make some unpalatable decisions at times, because frequently your decision is between two evils, and it’s going to hurt somebody. This is a tragedy of trying to run a business, but there’s no way out.”
And there were plenty of unpalatable decisions. Motor racing historian Mike Lawrence wrote that Chapman habitually abused drugs like barbiturates and amphetamines to keep his restless mind going, while his trademark moustache, piercing blue eyes, and Queen’s English pronunciation added to the oodles of charm radiating from his mere presence.
The first global Lotus headquarters was a London lock-up garage belonging to Chapman’s soon-to-be in-laws, churning out modified Austins. Four years after dabbling with road cars, he went into racing, and quickly set about occupying the front rows of most grids, his early success achieved by extracting more power from an engine that everyone used, and lightening everything that he could.
“To Colin, rules were something to be challenged, circumvented,” said Lotus engineer Tony Rudd. “He spent hours reading [the rule books] just to find loopholes.”
“Adding power makes you faster on the straights, subtracting weight makes you faster everywhere,” Chapman famously noted. “We actually go racing because I like it. I’ve always been involved in racing, and I also like the technical fallout from it. We learn tremendous amounts from racing. Our engineers from the car company take direct readouts from the racing team, in terms of suspension, handling, safety … We stretch everything to the limit in our racing cars, and we then know what sort of limit we can incorporate in our production cars.”
Hence, the business grew, purely to finance a passion. At the Earls Court Motor Show in 1957, Lotus presented three cars to the public: the Lotus 7 and Lotus Elite road cars, and the Lotus 12, which clearly displayed Chapman’s ambitions of Grand Prix racing.
The greatest British driver at the time would go down in history for giving Lotus its debut Formula One victory at Monaco in 1960, racing for the Rob Walker team. “Frankly, the Lotuses were beautiful to drive,” said the winner, Stirling Moss. “Not easy to drive, but very quick, very light and delicate, and very delicate as far as the strength was concerned.”
Moss had first-hand experience of this fragility, with quite a few wheels coming off his Lotus 18, most alarmingly at the fearsome 15km Spa Francorchamps circuit in Belgium in 1960. At 225kph. Moss spun, hit a bank and broke his back and legs. It was one of the first of many such trackside excursions for a Colin Chapman-designed car and its unlucky driver (at the same race at Spa, the British driver Mike Taylor was paralysed and had his racing career ended when his Lotus 18’s steering failed – he later successfully sued Lotus).
“Any car which holds together for more than a race is too heavy,” was another chilling definition of Grand Prix racing by Chapman. As was the infamous: “To add speed, add lightness.” You can’t get much lighter than a car with no wheels.
Besides painstakingly counting chassis rivets and getting rid of any surplus, as well as utilising the thinnest possible gauge aluminium, Chapman brought novelty designs to seemingly every Grand Prix. One year at Rouen in France – after he’d already stunned the Formula One oligarchy with his enormous aerodynamic wings hung off the back of the cars, which the whole field soon copied in a typical follow-the-leader move – his Lotus driver Jackie Oliver had a monumental crash that tore the car to pieces. The cause of the accident was the frail gearbox bell housing that supported the wing, and broke, ridding the car of most of its aerodynamics-induced cornering grip. The first thing that Chapman did was call his other driver, Graham Hill, back in and then walk over to rival Bruce McLaren to warn him of the danger – McLaren’s own car had a similar, copied design, and hence a similar risk. Despite how much Formula One was about winning at all costs, Chapman’s human side showed that it sometimes wasn’t the be all and end all.
In 1966, Lotus Cars found its staying home at Hethel in Norfolk, with typical Chapman creativity. To locate a suitable spot not too far from London and his suppliers’ bases, he simply drew a circle with a 160km radius from London, and flew around in his plane until he found the perfect location. By this stage in his life, as well as a private plane, he enjoyed a personal fortune of more than £12 million (Dh71.6million) at today’s rates.
As the 1970s loomed, it became apparent that the giants of the automotive industry would suffer in the face of the imminent oil crisis, while low-volume maker Lotus exploited its expertise of lightweight construction and smaller engines in its sports cars. It was a glorious era to be in Hethel, as supercar marques clutched onto straws while Lotus won 35 grands prix and launched successful road-going models such as the second generation Elite, and the groundbreaking Esprit – a sports car that survived five generations into 2004. In 1977, James Bond immortalised the Esprit S1, not only outrunning and outhandling the villains, but also memorably shocking Sardinian beachgoers with its submarine abilities in The Spy Who Loved Me.
Bond was behind the wheel of a new turbocharged Lotus Esprit in 1981’s For Your Eyes Only, living large at an Italian ski resort. But the good life was nearing its end, as Chapman departed us only a year later, and his legacy hit upon the hardest of times.
After Chapman’s death, there was a changing of the guard, and Lotus slumped for four years, achieving only a single Formula One race victory in 1982. For the rest of the decade, the team managed just seven more wins, six of them thanks to Ayrton Senna. In 1994, Team Lotus lined up on a Formula One grid one last time, leaving behind a wondrous heritage of revolutionary innovations, like Chapman struts, monocoque chassis, wedge designs, ground effect and even cars with dual chassis. Today, the name Lotus once again grabs top spots at Formula One races, but only in a somewhat shambolic spiritual return, as the outfit is owned by a Luxembourg-based venture capital group and has nothing to do with Hethel. Instead, it’s merely the former Renault team under a different name.
That’s a saga in itself, not unlike the horror-survival story of post-Chapman Lotus. After the 1982 tragedy, Toyota bought into the company, and before there could be any fruits of that labour, General Motors took over the outfit outright. Less than a decade later, troubled marque Bugatti sat into the Hethel throne, and then discarded Lotus to a Malaysian company to focus on its own financial problems. But against the odds, Lotus has survived and is building undoubtedly its finest-ever cars.
Anthony Colin Bruce Chapman’s initials were bigger than his company’s name on the logo for a reason – Lotus couldn’t survive without its enigmatic founder. If his overwhelmed heart hadn’t given up from Chapman’s frenetic pace of life, who’s to say that he wouldn’t have turned up at that trial, stood up in the court’s dock, waxed his moustache, and charmed his way out of doubt and into a knighthood?
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A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
Globalization and its Discontents Revisited
Joseph E. Stiglitz
W. W. Norton & Company
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.”
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
- Energy engineer: Dh25,000 to Dh30,000
- Production engineer: Dh30,000 to Dh40,000
- Data-driven supply chain management professional: Dh30,000 to Dh50,000
- HR leader: Dh40,000 to Dh60,000
- Engineering leader: Dh30,000 to Dh55,000
- Project manager: Dh55,000 to Dh65,000
- Senior reservoir engineer: Dh40,000 to Dh55,000
- Senior drilling engineer: Dh38,000 to Dh46,000
- Senior process engineer: Dh28,000 to Dh38,000
- Senior maintenance engineer: Dh22,000 to Dh34,000
- Field engineer: Dh6,500 to Dh7,500
- Field supervisor: Dh9,000 to Dh12,000
- Field operator: Dh5,000 to Dh7,000
The specs
Engine: 2.0-litre 4-cylinder turbo
Power: 240hp at 5,500rpm
Torque: 390Nm at 3,000rpm
Transmission: eight-speed auto
Price: from Dh122,745
On sale: now
The specs
Engine: 1.5-litre 4-cyl turbo
Power: 194hp at 5,600rpm
Torque: 275Nm from 2,000-4,000rpm
Transmission: 6-speed auto
Price: from Dh155,000
On sale: now
The Kites
Romain Gary
Penguin Modern Classics
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
Babumoshai Bandookbaaz
Director: Kushan Nandy
Starring: Nawazuddin Siddiqui, Bidita Bag, Jatin Goswami
Three stars
Company%20Profile
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Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
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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
TCL INFO
Teams:
Punjabi Legends Owners: Inzamam-ul-Haq and Intizar-ul-Haq; Key player: Misbah-ul-Haq
Pakhtoons Owners: Habib Khan and Tajuddin Khan; Key player: Shahid Afridi
Maratha Arabians Owners: Sohail Khan, Ali Tumbi, Parvez Khan; Key player: Virender Sehwag
Bangla Tigers Owners: Shirajuddin Alam, Yasin Choudhary, Neelesh Bhatnager, Anis and Rizwan Sajan; Key player: TBC
Colombo Lions Owners: Sri Lanka Cricket; Key player: TBC
Kerala Kings Owners: Hussain Adam Ali and Shafi Ul Mulk; Key player: Eoin Morgan
Venue Sharjah Cricket Stadium
Format 10 overs per side, matches last for 90 minutes
When December 14-17
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
Important questions to consider
1. Where on the plane does my pet travel?
There are different types of travel available for pets:
- Manifest cargo
- Excess luggage in the hold
- Excess luggage in the cabin
Each option is safe. The feasibility of each option is based on the size and breed of your pet, the airline they are traveling on and country they are travelling to.
2. What is the difference between my pet traveling as manifest cargo or as excess luggage?
If traveling as manifest cargo, your pet is traveling in the front hold of the plane and can travel with or without you being on the same plane. The cost of your pets travel is based on volumetric weight, in other words, the size of their travel crate.
If traveling as excess luggage, your pet will be in the rear hold of the plane and must be traveling under the ticket of a human passenger. The cost of your pets travel is based on the actual (combined) weight of your pet in their crate.
3. What happens when my pet arrives in the country they are traveling to?
As soon as the flight arrives, your pet will be taken from the plane straight to the airport terminal.
If your pet is traveling as excess luggage, they will taken to the oversized luggage area in the arrival hall. Once you clear passport control, you will be able to collect them at the same time as your normal luggage. As you exit the airport via the ‘something to declare’ customs channel you will be asked to present your pets travel paperwork to the customs official and / or the vet on duty.
If your pet is traveling as manifest cargo, they will be taken to the Animal Reception Centre. There, their documentation will be reviewed by the staff of the ARC to ensure all is in order. At the same time, relevant customs formalities will be completed by staff based at the arriving airport.
4. How long does the travel paperwork and other travel preparations take?
This depends entirely on the location that your pet is traveling to. Your pet relocation compnay will provide you with an accurate timeline of how long the relevant preparations will take and at what point in the process the various steps must be taken.
In some cases they can get your pet ‘travel ready’ in a few days. In others it can be up to six months or more.
5. What vaccinations does my pet need to travel?
Regardless of where your pet is traveling, they will need certain vaccinations. The exact vaccinations they need are entirely dependent on the location they are traveling to. The one vaccination that is mandatory for every country your pet may travel to is a rabies vaccination.
Other vaccinations may also be necessary. These will be advised to you as relevant. In every situation, it is essential to keep your vaccinations current and to not miss a due date, even by one day. To do so could severely hinder your pets travel plans.
Source: Pawsome Pets UAE
David Haye record
Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4
The chef's advice
Troy Payne, head chef at Abu Dhabi’s newest healthy eatery Sanderson’s in Al Seef Resort & Spa, says singles need to change their mindset about how they approach the supermarket.
“They feel like they can’t buy one cucumber,” he says. “But I can walk into a shop – I feed two people at home – and I’ll walk into a shop and I buy one cucumber, I’ll buy one onion.”
Mr Payne asks for the sticker to be placed directly on each item, rather than face the temptation of filling one of the two-kilogram capacity plastic bags on offer.
The chef also advises singletons not get too hung up on “organic”, particularly high-priced varieties that have been flown in from far-flung locales. Local produce is often grown sustainably, and far cheaper, he says.
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)
