For decades, in Europe and countries such as Canada and Australia, defence has been shunned, regarded by much of the population and the investment community as something to be avoided.
Its proponents were harbingers of death and destruction, on the wrong side of politics and, more recently, the ESG (Environmental, Social and Governance) divide.
That has shifted dramatically. Defence manufacturers now top the stock market performance charts, enjoying a surge in popularity. Even so, for many the sector bears a residual taste.
In the UK, those who sneer and shun point at Keir Starmer. There he is, the Labour Prime Minister, a former human rights lawyer, someone arguably to the left of Tony Blair, undoubtedly a person of conscience and principle. He’s been elected on a ticket to correct, as his supporters see it, the wrongs of Tory rule.
That entails heavy spending on state health, education, social care and welfare. There’s no extra money to be had, so the emphasis is on cutting costs and taxing those who can best afford to pay.
That drags a lagging economy, so a switch is made to growth. Suddenly, it’s all about investing and construction. Then, Donald Trump lands and the US reorders its foreign policy. European leaders are told America will no longer write a blank cheque for their nations’ protection, they must step up and the fighting in Ukraine must also end. Starmer responds by saying defence is the "number one priority of this government".
He said it, he really did. There can be no greater validation. Add to that, the uncertainty and fear that is gripping the world and the head-in-the-sand approach is no longer an option. Not only that, Britain and its neighbours have let their military capacity dwindle. It requires boosting, and fast.
Si vis pacem, para bellum. If you want peace, prepare for war
In the UK, Starmer is scrambling around for the cash. So far, it’s to be collected from those areas of public finances that had been met with the glowing approval of those who scorned defence, from aid and development. This is public affirmation writ large.
Domestically, defence companies tick the economic boxes – they provide jobs and training, their workers are highly skilled in all manner of disciplines, they’re heavily tech-based, their supply chains are long, extending to the smallest local and regional SMEs. Often, they’re in places blighted by post-industrial decline. This is an opportunity to rebuild, to help restore the lost industrial base.
For those who still harbour misgivings, the new justification is drawn from the Roman writer Vegetius Renatus: "Si vis pacem, para bellum." If you want peace, prepare for war.
Elsewhere in the world, they’ve long obeyed that maxim. Thanks to Trump’s forced realigning, Europe and those other places are now engaged in a hasty catch-up.
It’s easier said than done and money is not the only problem. As military spending has been allowed to decline, so too has the accompanying infrastructure. Procurement is a slow, cumbersome process full of delays. Complaints when the equipment eventually arrives that it is not fit for purpose are commonplace.
Britain has two new aircraft carriers, HMS Prince of Wales and HMS Queen Elizabeth II. Their deployment has proved to be one enormous headache, necessitating long periods in the maintenance dock when they should be out on the high seas, leading the naval fleet. They each cost £3.5 billion ($4.45 billion) to build, but so bad have been the technical problems there was increasing speculation they could be mothballed or sold to a friendly nation at a knockdown price. That’s vanished, and the push now is to get them up and battle ready.
Likewise, one of the army’s pillar contracts was for the Ajax ‘mini tank’, built by General Dynamics in Wales. The vehicles were intended to enter service in 2017 but have only just arrived, eight years late, the result of a "litany of failures", according to the Commons Public Accounts Committee, including noise and vibration issues that injured the soldiers testing them.
For the air force, the Eurofighter Typhoon is overdue for being replaced. It’s meant to be the Tempest, to be built by BAE, Leonardo and Rolls-Royce. The buyers lined up are Britain, Sweden, Italy and Japan. It’s so many years from fruition that the order has gone out for production of the Typhoon to be scaled up.
Examples abound of similar protracted contracts and faults, so much so that some analysts claim the increased UK spending on defence of £6 billion will be absorbed entirely in getting orders and deliveries up to speed, not on adding to capability.
Overall, there is another concern, which is that Britain and its allies have tended to focus their efforts on expensive kit, designed for what was perceived as the new, modern warfare. Ukraine has blown a hole in that approach, showing that boots on the ground really do matter, and with them come drones and artillery. What that means is that governments not only need to spend on hardware, they must also recruit and raise troop numbers.
But funding is in short supply and again, the accompanying infrastructure is not there. In some nations, including Britain, there is even talk of introducing conscription for 18 year olds. While that would be anathema to many, it is seen as having the added merit of helping resolve social issues of youth unemployment, lack of skills and crime.
Again, it is hugely expensive. It would, too, represent an enormous leap, necessitating societal change. The fact it is being aired, though, indicates just how much minds have been sharpened. In his inimitable fashion, Trump has upended what had become accepted orthodoxy.
German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
Six large-scale objects on show
- Concrete wall and windows from the now demolished Robin Hood Gardens housing estate in Poplar
- The 17th Century Agra Colonnade, from the bathhouse of the fort of Agra in India
- A stagecloth for The Ballet Russes that is 10m high – the largest Picasso in the world
- Frank Lloyd Wright’s 1930s Kaufmann Office
- A full-scale Frankfurt Kitchen designed by Margarete Schütte-Lihotzky, which transformed kitchen design in the 20th century
- Torrijos Palace dome
Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
KILLING OF QASSEM SULEIMANI
LILO & STITCH
Starring: Sydney Elizebeth Agudong, Maia Kealoha, Chris Sanders
Director: Dean Fleischer Camp
Rating: 4.5/5
UAE currency: the story behind the money in your pockets
KILLING OF QASSEM SULEIMANI
The five pillars of Islam
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
COMPANY%20PROFILE
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Analysis
Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more
Roll%20of%20Honour%2C%20men%E2%80%99s%20domestic%20rugby%20season
%3Cp%3E%3Cstrong%3EWest%20Asia%20Premiership%3C%2Fstrong%3E%0D%3Cbr%3EChampions%3A%20Dubai%20Tigers%0D%3Cbr%3ERunners%20up%3A%20Bahrain%0D%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EUAE%20Premiership%3C%2Fstrong%3E%0D%3Cbr%3EChampions%3A%20Jebel%20Ali%20Dragons%0D%3Cbr%3ERunners%20up%3A%20Dubai%20Hurricanes%0D%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EUAE%20Division%201%3C%2Fstrong%3E%0D%3Cbr%3EChampions%3A%20Dubai%20Sharks%0D%3Cbr%3ERunners%20up%3A%20Abu%20Dhabi%20Harlequins%20II%0D%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EUAE%20Division%202%3C%2Fstrong%3E%0D%3Cbr%3EChampions%3A%20Dubai%20Tigers%20III%0D%3Cbr%3ERunners%20up%3A%20Dubai%20Sharks%20II%0D%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EDubai%20Sevens%3C%2Fstrong%3E%0D%3Cbr%3EChampions%3A%20Dubai%20Tigers%0D%3Cbr%3ERunners%20up%3A%20Dubai%20Hurricanes%3C%2Fp%3E%0A
Predictions
Predicted winners for final round of games before play-offs:
- Friday: Delhi v Chennai - Chennai
- Saturday: Rajasthan v Bangalore - Bangalore
- Saturday: Hyderabad v Kolkata - Hyderabad
- Sunday: Delhi v Mumbai - Mumbai
- Sunday - Chennai v Punjab - Chennai
Final top-four (who will make play-offs): Chennai, Hyderabad, Mumbai and Bangalore
Zakat definitions
Zakat: an Arabic word meaning ‘to cleanse’ or ‘purification’.
Nisab: the minimum amount that a Muslim must have before being obliged to pay zakat. Traditionally, the nisab threshold was 87.48 grams of gold, or 612.36 grams of silver. The monetary value of the nisab therefore varies by current prices and currencies.
Zakat Al Mal: the ‘cleansing’ of wealth, as one of the five pillars of Islam; a spiritual duty for all Muslims meeting the ‘nisab’ wealth criteria in a lunar year, to pay 2.5 per cent of their wealth in alms to the deserving and needy.
Zakat Al Fitr: a donation to charity given during Ramadan, before Eid Al Fitr, in the form of food. Every adult Muslim who possesses food in excess of the needs of themselves and their family must pay two qadahs (an old measure just over 2 kilograms) of flour, wheat, barley or rice from each person in a household, as a minimum.
Book%20Details
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Background: Chemical Weapons
Where can I submit a sample?
Volunteers can now submit DNA samples at a number of centres across Abu Dhabi. The programme is open to all ages.
Collection centres in Abu Dhabi include:
- Abu Dhabi National Exhibition Centre (ADNEC)
- Biogenix Labs in Masdar City
- Al Towayya in Al Ain
- NMC Royal Hospital in Khalifa City
- Bareen International Hospital
- NMC Specialty Hospital, Al Ain
- NMC Royal Medical Centre - Abu Dhabi
- NMC Royal Women’s Hospital.
Tributes from the UAE's personal finance community
• Sebastien Aguilar, who heads SimplyFI.org, a non-profit community where people learn to invest Bogleheads’ style
“It is thanks to Jack Bogle’s work that this community exists and thanks to his work that many investors now get the full benefits of long term, buy and hold stock market investing.
Compared to the industry, investing using the common sense approach of a Boglehead saves a lot in costs and guarantees higher returns than the average actively managed fund over the long term.
From a personal perspective, learning how to invest using Bogle’s approach was a turning point in my life. I quickly realised there was no point chasing returns and paying expensive advisers or platforms. Once money is taken care off, you can work on what truly matters, such as family, relationships or other projects. I owe Jack Bogle for that.”
• Sam Instone, director of financial advisory firm AES International
"Thought to have saved investors over a trillion dollars, Jack Bogle’s ideas truly changed the way the world invests. Shaped by his own personal experiences, his philosophy and basic rules for investors challenged the status quo of a self-interested global industry and eventually prevailed. Loathed by many big companies and commission-driven salespeople, he has transformed the way well-informed investors and professional advisers make decisions."
• Demos Kyprianou, a board member of SimplyFI.org
"Jack Bogle for me was a rebel, a revolutionary who changed the industry and gave the little guy like me, a chance. He was also a mentor who inspired me to take the leap and take control of my own finances."
• Steve Cronin, founder of DeadSimpleSaving.com
"Obsessed with reducing fees, Jack Bogle structured Vanguard to be owned by its clients – that way the priority would be fee minimisation for clients rather than profit maximisation for the company.
His real gift to us has been the ability to invest in the stock market (buy and hold for the long term) rather than be forced to speculate (try to make profits in the shorter term) or even worse have others speculate on our behalf.
Bogle has given countless investors the ability to get on with their life while growing their wealth in the background as fast as possible. The Financial Independence movement would barely exist without this."
• Zach Holz, who blogs about financial independence at The Happiest Teacher
"Jack Bogle was one of the greatest forces for wealth democratisation the world has ever seen. He allowed people a way to be free from the parasitical "financial advisers" whose only real concern are the fat fees they get from selling you over-complicated "products" that have caused millions of people all around the world real harm.”
• Tuan Phan, a board member of SimplyFI.org
"In an industry that’s synonymous with greed, Jack Bogle was a lone wolf, swimming against the tide. When others were incentivised to enrich themselves, he stood by the ‘fiduciary’ standard – something that is badly needed in the financial industry of the UAE."
Mohammed bin Zayed Majlis
The specs
Engine: 1.5-litre 4-cylinder petrol
Power: 154bhp
Torque: 250Nm
Transmission: 7-speed automatic with 8-speed sports option
Price: From Dh79,600
On sale: Now
Most sought after workplace benefits in the UAE
- Flexible work arrangements
- Pension support
- Mental well-being assistance
- Insurance coverage for optical, dental, alternative medicine, cancer screening
- Financial well-being incentives
UAE currency: the story behind the money in your pockets
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
More from Rashmee Roshan Lall
Director: Jon Favreau
Starring: Donald Glover, Seth Rogen, John Oliver
Rating: 2 out of 5 stars
Vidaamuyarchi
Director: Magizh Thirumeni
Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra
Rating: 4/5
BIGGEST CYBER SECURITY INCIDENTS IN RECENT TIMES
SolarWinds supply chain attack: Came to light in December 2020 but had taken root for several months, compromising major tech companies, governments and its entities
Microsoft Exchange server exploitation: March 2021; attackers used a vulnerability to steal emails
Kaseya attack: July 2021; ransomware hit perpetrated REvil, resulting in severe downtime for more than 1,000 companies
Log4j breach: December 2021; attackers exploited the Java-written code to inflitrate businesses and governments
The biog
Place of birth: Kalba
Family: Mother of eight children and has 10 grandchildren
Favourite traditional dish: Al Harees, a slow cooked porridge-like dish made from boiled cracked or coarsely ground wheat mixed with meat or chicken
Favourite book: My early life by Sheikh Dr Sultan bin Muhammad Al Qasimi, the Ruler of Sharjah
Favourite quote: By Sheikh Zayed, the UAE's Founding Father, “Those who have no past will have no present or future.”
The Details
Article 15
Produced by: Carnival Cinemas, Zee Studios
Directed by: Anubhav Sinha
Starring: Ayushmann Khurrana, Kumud Mishra, Manoj Pahwa, Sayani Gupta, Zeeshan Ayyub
Our rating: 4/5
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
Traits of Chinese zodiac animals
Tiger:independent, successful, volatile
Rat:witty, creative, charming
Ox:diligent, perseverent, conservative
Rabbit:gracious, considerate, sensitive
Dragon:prosperous, brave, rash
Snake:calm, thoughtful, stubborn
Horse:faithful, energetic, carefree
Sheep:easy-going, peacemaker, curious
Monkey:family-orientated, clever, playful
Rooster:honest, confident, pompous
Dog:loyal, kind, perfectionist
Boar:loving, tolerant, indulgent
Sarfira
Director: Sudha Kongara Prasad
Starring: Akshay Kumar, Radhika Madan, Paresh Rawal
Rating: 2/5
