A chance to mend fences in Germany



BERLIN // Barack Obama can expect the usual rock star treatment from the public when he arrives this evening for a one-day stop in Germany after his landmark speech to the Islamic world in Cairo, but among German government officials, Obamania is waning fast. There is growing irritation in Berlin at what has been perceived as a series of snubs by the US president, most recently over the ­rescue of Opel, the German car maker pushed to the brink of ruin by its ailing US parent company, General Motors. Berlin had high hopes that Mr Obama would usher in fresh US policy on climate change, the Middle East and relations with Russia. His election victory triggered expectations of a fundamental improvement in US-­German ties that had recovered only slowly from the deep rift caused by the 2003 Iraq war, and were consistently hampered by isolationism. But the disenchantment with Mr Obama started within weeks of his inauguration when US officials declared he might drop the video-conferences that Chancellor Angela Merkel had held regularly with George W Bush. In the end the White House gave in, but it took two months to set up a conference. Then US officials ignored a German request for Mrs Merkel to visit Mr Obama before the G20 meeting in London in April, German officials said. Washington did not respond for days until her team dropped the idea in frustration. The British prime minister, Gordon Brown, meanwhile, had secured an audience with the president in March. Last week, as the German government was wrangling to find a rescue deal for Opel, German ministers were alarmed to see that the US treasury, a key player in the discussions, had dispatched a third-tier official to the last-ditch talks with prospective bidders. Ministers attacked the US negotiating position as "unhelpful", "bizarre", "unacceptable" and even "scandalous" - unusually undiplomatic ­language for German officials, especially towards an ally. Part of the problem, senior officials in Berlin say, is that they do not know who to talk to in Washington because many key administration posts remain unfilled. There is a feeling in Berlin that at a time of economic crisis, jobs should be filled more quickly. "There's growing frustration in Germany, and frustration means that expectations are being disappointed," said Bernhard May, a Berlin-based analyst on transatlantic relations who heads the German group of the Trilateral Commission, an international think tank. "That was bound to happen if you look at the problems the Obama government has to deal with. But people are saying it's June now, why is Obama's government still not properly up and running?" Officials have also been perturbed by Mr Obama's refusal to visit Berlin during his stopover this week. Some have started to speculate that there is a lack of personal chemistry between the two very different leaders. Mrs Merkel, notoriously matter of fact and uncharismatic, lacks the easy charm and oratory skills with which Mr Obama inspires crowds. Privately, officials say Mr Obama may be taking revenge on Mrs Merkel for her refusal to let him give a speech at Berlin's Brandenburg Gate, the historically charged symbol of German division and unification, during a visit while he was campaigning for the presidency. Mr Obama went on to give his speech further down the street, and provided the world with a taste of his global popularity by attracting a crowd of 200,000 cheering Berliners. They greeted him as the next John Kennedy, who symbolised the deep bond between the two countries in the Cold War with his declaration "Ich bin ein Berliner" during his 1963 visit to West Berlin. Many Germans long for relations with the United States under Mr Obama to become as close as they were under Mr Kennedy. In a fresh sign of Mr Obama's popularity in Germany, a food company recently launched "Obama Fingers", a frozen snack of breaded chicken fingers with a curry dip, to boost sales. Despite their irritation with Mr Obama, politicians are desperate to clinch a photo opportunity with him in the hope that some of his messianic status may rub off on them before local, European and regional elections looming in coming weeks and months, culminating in a general election on Sept 27. The regional governors of the eastern states of Thuringia and Saxony, Dieter Althaus and Stanislaw Tillich, members of Mrs Merkel's conservative Christian Democrats, suggested that Mr Obama visit major ­historic sites with them during his stay: the Zwinger Palace museum in Dresden and the Anna Amalia Library in the eastern city of Weimar. But the White House declined. Mr Obama is scheduled to hold brief talks with Mrs Merkel in ­Dresden before visiting the ­Buchenwald concentration camp near ­Weimar tomorrow to commemorate the victims of the Holocaust. His great-uncle, Charlie Payne, took part in the liberation of Ohrdruf, a ­Buchenwald satellite camp, while serving in the US army during the Second World War. He is also expected to visit the US military base in Ramstein and the military hospital in Landstuhl, where soldiers wounded in Iraq and Afghanistan are being treated. Mr Obama will travel on to France to take part in a ceremony on Saturday to commemorate the 65th anniversary of D-Day, the landing of the Allied troops at Normandy in 1944. Although he remains a superstar to ordinary Europeans, and European leaders have welcomed his pledge to drop Mr Bush's go-it-alone strategy and start listening to them, political analysts say his foreign policy has yet to bear fruit, and that little progress should be expected during his European trip, which is steeped in the symbolism of the Second World War. "This trip to Europe is a journey into history. Going to Buchenwald and then Normandy is about ­underlining the fundamental ­importance of the transatlantic relationship," said Mr May at the Trilateral Commission. "It's a good combination." dcrossland@thenational.ae

Company%20Profile
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Tuesday's fixtures
Group A
Kyrgyzstan v Qatar, 5.45pm
Iran v Uzbekistan, 8pm
N Korea v UAE, 10.15pm
Coming soon

Torno Subito by Massimo Bottura

When the W Dubai – The Palm hotel opens at the end of this year, one of the highlights will be Massimo Bottura’s new restaurant, Torno Subito, which promises “to take guests on a journey back to 1960s Italy”. It is the three Michelinstarred chef’s first venture in Dubai and should be every bit as ambitious as you would expect from the man whose restaurant in Italy, Osteria Francescana, was crowned number one in this year’s list of the World’s 50 Best Restaurants.

Akira Back Dubai

Another exciting opening at the W Dubai – The Palm hotel is South Korean chef Akira Back’s new restaurant, which will continue to showcase some of the finest Asian food in the world. Back, whose Seoul restaurant, Dosa, won a Michelin star last year, describes his menu as,  “an innovative Japanese cuisine prepared with a Korean accent”.

Dinner by Heston Blumenthal

The highly experimental chef, whose dishes are as much about spectacle as taste, opens his first restaurant in Dubai next year. Housed at The Royal Atlantis Resort & Residences, Dinner by Heston Blumenthal will feature contemporary twists on recipes that date back to the 1300s, including goats’ milk cheesecake. Always remember with a Blumenthal dish: nothing is quite as it seems. 

European arms

Known EU weapons transfers to Ukraine since the war began: Germany 1,000 anti-tank weapons and 500 Stinger surface-to-air missiles. Luxembourg 100 NLAW anti-tank weapons, jeeps and 15 military tents as well as air transport capacity. Belgium 2,000 machine guns, 3,800 tons of fuel. Netherlands 200 Stinger missiles. Poland 100 mortars, 8 drones, Javelin anti-tank weapons, Grot assault rifles, munitions. Slovakia 12,000 pieces of artillery ammunition, 10 million litres of fuel, 2.4 million litres of aviation fuel and 2 Bozena de-mining systems. Estonia Javelin anti-tank weapons.  Latvia Stinger surface to air missiles. Czech Republic machine guns, assault rifles, other light weapons and ammunition worth $8.57 million.

Other workplace saving schemes
  • The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
  • Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
  • National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
  • In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
  • Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.

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 
2025 Fifa Club World Cup groups

Group A: Palmeiras, Porto, Al Ahly, Inter Miami.

Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.

Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.

Group D: Flamengo, ES Tunis, Chelsea, (Leon banned).

Group E: River Plate, Urawa, Monterrey, Inter Milan.

Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.

Group G: Manchester City, Wydad, Al Ain, Juventus.

Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.

 


 

Stuck in a job without a pay rise? Here's what to do

Chris Greaves, the managing director of Hays Gulf Region, says those without a pay rise for an extended period must start asking questions – both of themselves and their employer.

“First, are they happy with that or do they want more?” he says. “Job-seeking is a time-consuming, frustrating and long-winded affair so are they prepared to put themselves through that rigmarole? Before they consider that, they must ask their employer what is happening.”

Most employees bring up pay rise queries at their annual performance appraisal and find out what the company has in store for them from a career perspective.

Those with no formal appraisal system, Mr Greaves says, should ask HR or their line manager for an assessment.

“You want to find out how they value your contribution and where your job could go,” he says. “You’ve got to be brave enough to ask some questions and if you don’t like the answers then you have to develop a strategy or change jobs if you are prepared to go through the job-seeking process.”

For those that do reach the salary negotiation with their current employer, Mr Greaves says there is no point in asking for less than 5 per cent.

“However, this can only really have any chance of success if you can identify where you add value to the business (preferably you can put a monetary value on it), or you can point to a sustained contribution above the call of duty or to other achievements you think your employer will value.”

 

UAE currency: the story behind the money in your pockets
Dr Afridi's warning signs of digital addiction

Spending an excessive amount of time on the phone.

Neglecting personal, social, or academic responsibilities.

Losing interest in other activities or hobbies that were once enjoyed.

Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.

Experiencing sleep disturbances or changes in sleep patterns.

What are the guidelines?

Under 18 months: Avoid screen time altogether, except for video chatting with family.

Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.

Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.

Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.

Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.

Source: American Paediatric Association
The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat 

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Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
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Specs

Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request

The Bio

Favourite vegetable: “I really like the taste of the beetroot, the potatoes and the eggplant we are producing.”

Holiday destination: “I like Paris very much, it’s a city very close to my heart.”

Book: “Das Kapital, by Karl Marx. I am not a communist, but there are a lot of lessons for the capitalist system, if you let it get out of control, and humanity.”

Musician: “I like very much Fairuz, the Lebanese singer, and the other is Umm Kulthum. Fairuz is for listening to in the morning, Umm Kulthum for the night.”

The specs: 2018 Nissan Altima


Price, base / as tested: Dh78,000 / Dh97,650

Engine: 2.5-litre in-line four-cylinder

Power: 182hp @ 6,000rpm

Torque: 244Nm @ 4,000rpm

Transmission: Continuously variable tranmission

Fuel consumption, combined: 7.6L / 100km

NO OTHER LAND

Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal

Stars: Basel Adra, Yuval Abraham

Rating: 3.5/5

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" 

THE SPECS

Engine: 3.9-litre twin-turbo V8

Transmission: seven-speed dual clutch

Power: 710bhp

Torque: 770Nm

Speed: 0-100km/h 2.9 seconds

Top Speed: 340km/h

Price: Dh1,000,885

On sale: now

The Bio

Name: Lynn Davison

Profession: History teacher at Al Yasmina Academy, Abu Dhabi

Children: She has one son, Casey, 28

Hometown: Pontefract, West Yorkshire in the UK

Favourite book: The Alchemist by Paulo Coelho

Favourite Author: CJ Sansom

Favourite holiday destination: Bali

Favourite food: A Sunday roast

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The specs: 2018 Nissan 370Z Nismo

The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
​​​​​​​Fuel consumption, combined: 10.5L / 100km

Ms Yang's top tips for parents new to the UAE
  1. Join parent networks
  2. Look beyond school fees
  3. Keep an open mind
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Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
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Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
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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