A tale of two Arabian cities



Riyadh and Sana'a: one is stultifying but stable, the other is enchanting and falling apart. Nathan Deuel travels between them. It's March 2010 and the clang of metal rings out down a dusty street in Sana'a, the capital of Yemen. Soldiers in blue camouflage hold oiled assault rifles, standing among a gathering crowd. One of the city's dispensaries for cooking gas has just received a shipment. There's a shortage of fuel all around the city, which is groaning under the twin strains of governmental dysfunction and an influx of refugees from the north. A jet streaks high above us, presumably en route to the border with Saudi Arabia, where the Yemeni military is targeting anti-government Houthi rebels and alleged cells of al Qa'eda in the Arabian Peninsula (AQAP). Some in the West have begun to call Yemen a failed state, but at least they're calling it something.

I have come to Sana'a with my wife - who is on assignment for American public radio - from our base in Riyadh, a historical friend to its southern neighbour. People say that Yemenis built Saudi Arabia - and it's true that big companies of Yemeni origin, such as the massive Bin Laden Group, were responsible for a lot of the early contracts to build roads and infrastructure in the Kingdom. But warm relations between the two countries soured in 1990 and 1991, when Yemen's President Ali Abdullah Saleh, in power since 1978 and at that point presiding over a united north and south Yemen, joined Cuba in voting against a United Nations resolution authorising force to eject Iraqi troops from Kuwait. Saudi Arabia was outraged by the decision and began deporting Yemeni guest workers. Nearly a million were eventually removed. The absence of dollar infusions from Saudi's booming oil economy - and the loss of millions in US and European support, likewise rescinded in response to that UN vote - didn't help things for Yemen, which faced dwindling petroleum revenues that are expected to slow to a stop soon.

Coming from the comparative wealth and restrictions of Riyadh, I am eager to see Sana'a, which I've read is poorer in cash and resources, but richer in less quantifiable terms. At the airport, the creaking wreck of hopeless bureaucracy is evident. There are multiple lines, but after 30 minutes, no one has moved forward. The men behind the computers have furrowed brows and regard their monitors quizzically. Their superiors run from terminal to terminal, yelling and reprimanding. Meanwhile, we all stand in the heat of the warming afternoon and swat at flies.

As white American passport holders, we find ourselves dragged into the diplomatic lane, where the man behind the counter has sad eyes, James Dean hair, and bone structure that could land him any number of modelling contracts. He taps at the computer for a while, then stamps us through. Heading into the city, along the road where a Korean delegation was blown up a year ago, the line of cars slows for soldiers chewing massive cheekfuls of the herbal stimulant qat. They hold well-worn assault rifles and look glazed, yellow-eyed. We sail through the checkpoint, our driver giving a nod. He tells us they only stop men in beaten-up Toyota pickup trucks, the so-called jihad-mobiles. The north isn't some distant war, the driver explains. The fighting is not that far away, just a couple of hours by car.

Partly because of all the strife here, and partly in spite of it, foreign money abounds in Sana'a, but it's not always easy to figure out what good it's doing. The Chinese embassy is massive, taking up an entire city block just west of the old city, with six-metre walls and armed guards. Chinese companies are building the new parliament, paid for by Kuwait. I'm told it's Yemeni money that paid for an improbably giant mosque in the centre of town.

Outside our hotel, a wedding tent has been erected and is promptly smothered in dust. Wailing live music rattles the walls all night, stopping for an hour or so to make way for the morning call to prayer. "It is better to pray than to sleep," the muezzin intones. The sun crests over Sana'a's millennia-old mud buildings. People have been lining up for hours to get hold of one of the bottles of cooking fuel. A typical Yemeni man - not much over 1.5 metres tall, dusty blazer, scarf thrown over his shoulders, dagger tucked into his belt - jostles to the front of the crowd. He knocks into another man, who roars in protest. People shift nervously, including sandal-wearing children and several stooped women, who are shrouded in dyed fabrics and whose faces are covered with small black scarves.

One of the soldiers shoves a man to the ground. There's disapproving tongue-clicking and bickering and my wife and I realise it's probably time for us to get moving. One of the men in the scrum catches our eyes. He gives us an embarrassed smile. I stroll to the old city, a half an hour's walk along cracked pavements smeared in green qat spit. What I encounter when I arrive is a marvel: the most enchanting blocks I've ever trodden. Behind the quarter's massive walls, I pick an insane path along narrow, cobblestone alleys. Six and seven-storey mud skyscrapers reach for the blue sky. No angle is 90 degrees, and all the doors and windows are hand-carved and set with brass filigree and jewelled shards of stained glass. In one sun-dappled square, the air perfectly still, a girl picks lice out of another girl's hair. Down another shaded lane, barely wider than my outstretched arms, dirty-faced boys bang with sticks at an ornate manhole cover. Another knot of boys throws rocks at each other and I am nicked in the playful barrage.

Coming from Saudi Arabia, it's hard not to compare the open, jubilant street scene to the dour, joyless rush of Riyadh. There's a hawk prancing along the stone wall of a grassy square and a guy selling jasmine flowers with an assault rifle slung over his back. In a park several men lounge in the shade of a squat tree, laughing as one cranks out sit-ups. I shouldn't be so sanguine. I know I'm reaching for the fond anecdote, ignoring the grim for the reassuring image. On the way back to our room, I pass the military museum. A fierce-looking Italian tank with two guns stands outside. A hand-painted sign says the war machine hails from the time of Imam Yahya, who ruled Yemen from 1904 until his assassination in 1948. Men with daggers in their belts marvel, fingering the metal. That day an alleged member of AQAP attempts to shoot his way out of a nearby hospital room, killing one policeman and injuring another.

The next night, we race to the old city in time to see the sunset from a rooftop restaurant. The call for evening prayer rings out, bouncing off ancient walls. Two blocks from where we eat a mixed grill and sip hot chocolate, a 12-year-old divorcee will later struggle to explain to my wife why she didn't want to be married any more. After dinner, the power is cut for the entire district, and an all-consuming blackness descends. It's late. We are lost in the mix. I'm fearful we won't make it back, that the alleys will consume us. But the buzz of commerce pulls us along. Shopkeepers fire up generators and light candles. Along the way, we spot men watching a traffic jam just to have something to do.

In Yemen, it seems like there are as many hawks as there are pigeons. In turn, it sometimes seems there may be as many jets flying overhead as there are hawks. I find the grounds of the state university, where the sad buildings are boiling with eddies of fast-talking teenagers. Many of the women have their face uncovered and not one of the men is in traditional dress. On our last morning, I look out my hotel room window, at the achingly blue sky, and I see a red plastic bag floating up on some warm slipstream. It's a whisper of petroleum soaring above Sana'a, as light as air and as vexing and out of reach as anything else around here.

Nathan Deuel, a regular contributor to The Review, is at work on a book about walking from New York to New Orleans.

Recent winners

2002 Giselle Khoury (Colombia)

2004 Nathalie Nasralla (France)

2005 Catherine Abboud (Oceania)

2007 Grace Bijjani  (Mexico)

2008 Carina El-Keddissi (Brazil)

2009 Sara Mansour (Brazil)

2010 Daniella Rahme (Australia)

2011 Maria Farah (Canada)

2012 Cynthia Moukarzel (Kuwait)

2013 Layla Yarak (Australia)              

2014 Lia Saad  (UAE)

2015 Cynthia Farah (Australia)

2016 Yosmely Massaad (Venezuela)

2017 Dima Safi (Ivory Coast)

2018 Rachel Younan (Australia)

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

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.”

Profile of Hala Insurance

Date Started: September 2018

Founders: Walid and Karim Dib

Based: Abu Dhabi

Employees: Nine

Amount raised: $1.2 million

Funders: Oman Technology Fund, AB Accelerator, 500 Startups, private backers

 

Other key dates
  • Finals draw: December 2
  • Finals (including semi-finals and third-placed game): June 5–9, 2019
  • Euro 2020 play-off draw: November 22, 2019
  • Euro 2020 play-offs: March 26–31, 2020

No Shame

Lily Allen

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