One of the most beguiling aspects of living in Britain is sampling its ever-changing climate. Expats who have swapped the grind of life in the UK for warmer, sunnier climes overseas, may exhort their new laid-back continental lifestyle, but mention a sweet English springtime, a languid summer’s afternoon, a foggy autumnal evening or a brisk walk on a chilly winter’s morning, and very soon you will have them crying with nostalgia into their cappuccino. You can’t replicate that dizzying array of seasons in Los Angeles or Dubai.
But those of us still stuck here had better enjoy them while we can, because they may not be around for much longer: for the weather patterns, as with so many other areas of this fragile planet, seem to be going haywire.
The country should now, in mid-January, be in the grip of deepest winter, but instead of snow, ice and frost, many of us have been trying to remember how to turn on the air conditioning in recent weeks.
The UK is experiencing the warmest winter on record – although Britain is bracing itself for a pronounced cold snap – and you don’t have to consult a seasoned meteorologist to know it, but merely to glance out of the window. From my own vantage point I can see spring bulbs already pushing up through the soil in my garden, while our flowering jasmine is in bloom about three months ahead of schedule.
Indeed, last month a friend texted me from busy, bleak Oxford Street to say that his Christmas shopping spree had been momentarily interrupted by the unwanted attention of an angry bee. “Something’s very wrong” was his dread summation.
Nobody relishes a really harsh winter of course, and deep snow soon loses its attraction once you’ve had your obligatory snowball fight and then have to struggle into work, but there is something deeply unsettling about the climate right now. Along with soaring temperatures we’ve also had unprecedented rainfall.
This autumn it has cascaded down on us in unprecedented quantities, and the resulting flooding has inundated homes and businesses throughout northern England and Scotland (including the historic cities of York and Carlisle), making people’s lives a misery in the process. And just when they thought it couldn’t get any worse, they’ve had to put up with Government ministers wandering around in hard hats and waders.
The issue of global warming and the rapidly changing climate is nowadays on everyone’s lips. To some, it’s the single biggest threat to the health, wealth and the prosperity of all living beings, while to others, it’s a conspiracy theory dreamt up by big business and/or meddling scientists with too much time on their hands. The recent world climate summit, held in Paris last November, offered real hope that temperature rise may be restrained, when it managed to put in place an international accord to reduce greenhouse gas emissions involving 200 separate countries: a Herculean effort that had delegates hugging each other at the conclusion. Yet, with so many of its targets non-binding or voluntary, only an optimist would put away their worry beads, for marrying the economic and cultural demands of such diverse nations as the Maldives and China will be no easy matter. The next 30 years will be crucial. After that – say many scientists – whatever we do, it will be too late.
Thankfully for those of here in Britain, there’s been a return to a semblance of normality of late, with a cold front blowing down from the Arctic and dusting northern Britain with snow. You can almost hear the collective sigh of relief as we all turn up the central heating. But I’m taking no chances, and I’ll be carrying both sunscreen and thermal underwear with me to cover all eventualities.
One thing is certain. Whatever we’re doing to our poor battered old planet, it’ll be fine. It is, when all is said and done, here for the long haul. A few hundred thousand years and Mother Earth will sort itself out again. It’s only us – Homo sapiens – that stand to lose everything if we mess up.
Michael Simkins is an actor and writer in London
On Twitter: @michael_simkins
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
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.”
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Prop idols
Girls full-contact rugby may be in its infancy in the Middle East, but there are already a number of role models for players to look up to.
Sophie Shams (Dubai Exiles mini, England sevens international)
An Emirati student who is blazing a trail in rugby. She first learnt the game at Dubai Exiles and captained her JESS Primary school team. After going to study geophysics at university in the UK, she scored a sensational try in a cup final at Twickenham. She has played for England sevens, and is now contracted to top Premiership club Saracens.
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Seren Gough-Walters (Sharjah Wanderers mini, Wales rugby league international)
Few players anywhere will have taken a more circuitous route to playing rugby on Sky Sports. Gough-Walters was born in Al Wasl Hospital in Dubai, raised in Sharjah, did not take up rugby seriously till she was 15, has a master’s in global governance and ethics, and once worked as an immigration officer at the British Embassy in Abu Dhabi. In the summer of 2021 she played for Wales against England in rugby league, in a match that was broadcast live on TV.
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Erin King (Dubai Hurricanes mini, Ireland sevens international)
Aged five, Australia-born King went to Dubai Hurricanes training at The Sevens with her brothers. She immediately struck up a deep affection for rugby. She returned to the city at the end of last year to play at the Dubai Rugby Sevens in the colours of Ireland in the Women’s World Series tournament on Pitch 1.
Tips for taking the metro
- set out well ahead of time
- make sure you have at least Dh15 on you Nol card, as there could be big queues for top-up machines
- enter the right cabin. The train may be too busy to move between carriages once you're on
- don't carry too much luggage and tuck it under a seat to make room for fellow passengers
Abaya trends
The utilitarian robe held dear by Arab women is undergoing a change that reveals it as an elegant and graceful garment available in a range of colours and fabrics, while retaining its traditional appeal.
The specs
Engine: 2.0-litre 4-cylturbo
Transmission: seven-speed DSG automatic
Power: 242bhp
Torque: 370Nm
Price: Dh136,814
At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
The years Ramadan fell in May
KILLING OF QASSEM SULEIMANI
KILLING OF QASSEM SULEIMANI
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)
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