The old and new statues of Archbishop Makarios.
The old and new statues of Archbishop Makarios.

Nicosia bids farewell to a towering figure



NICOSIA // It will be like Paris sans la Tour Eiffel or Dubai without the billowing Burj al Arab hotel: Nicosia, the capital of Cyprus, will lose its most photographed tourist attraction today. The 10-metre statue of Archbishop Makarios III, which locals affectionately refer to as "Big Mac", will be moved to the charismatic cleric's final resting place in the island's cool, pine-clad Troodos mountains 80 kilometres from the Cypriot capital. The shrewd archbishop, who led the political wing of the struggle against British colonial rule, was elected first president of Cyprus in 1959, a year before the island won independence. It was a humbling time for Albion as leaders of the developing world reclaimed chunks of the once unassailable British Empire in its twilight years. Britain had been determined to hold on to Cyprus as a vital strategic base following the humiliating loss of Suez. Makarios, a shepherd's son, remained in power through often turbulent years until he died of a heart attack in 1977, three years after the island was sundered by Turkey's invasion. So revered was he that 250,000 tearful Greek Cypriots - more than one-third of their community - filed past his coffin. For 21 years his colossal bronze statue, designed and sculpted over three years in Britain by a London-based Greek Cypriot artist, has stood as a towering landmark in front of the Archbishop's Palace in central Nicosia. But people had long complained that the statue was too big and an "eyesore", according to the palace's incumbent, Archbishop Chrysostomos II. "It will be better in the open, mountainous area of the holy Kykko monastery," said Frixos Cleanthous, his office director. A new life-size statue of Makarios in dazzling white marble was installed several weeks ago in the front garden of the Archbishop's Palace, ready to usurp the bronze behemoth. When the original statue, which weighs 11 tonnes and is taller than two double-decker buses, was erected in 1987, critics complained that it was out of proportion to its surroundings and clashed with the Neo-Classical style of neighbouring buildings. "Downright hideous," the Rough Guide to Cyprus still sniffs with contempt. But the statue has grown on many Nicosians in the same way that the originally unloved Eiffel Tower is now central to the identity of Paris. "It keeps alive good memories of Cyprus's best president and it's very good for the area. It's a great pity if it goes," said Angelos Angelides, a car mechanic who works within a spanner's throw of the sculpture. Thousands of tourists have their photograph snapped in front of the statue every day, and most love it. "It's really awesome, really inspiring," said Andrew Nevin, 25, from Tennessee. "No one will see it in the mountains." The owners of nearby souvenir shops and snack bars predict its removal will affect earnings. "I never thought the statue fitted in with the surroundings, but I would like it to stay because it's good for business in the area," said Panos Patatakos, whose betting shop falls within the shadow of the statue's frown. The autocephalous (independent) Greek Orthodox Church of Cyprus seems aware that the statue's relocation could be controversial, despite the public's apparent indifference to its removal. Archbishop Chrysostomos II instructed reporters and cameramen to stay away during its uprooting. "I demand respect for the archbishop's memory," he said. Camera crews from the island's intensely competitive private television stations are, however, expected to ignore the lofty dictat. The Church may be wary that the statue's removal carries unintended symbolic significance. Only in the past few years have commentators and historians begun debating Makarios's legacy. Many people acknowledge that although he was perhaps the best leader for his times, his record was not without fault. Some recall his charisma in one breath while suggesting in the next that he had an authoritarian streak. The huge statue's replacement by a life-size one "is a powerful physical image in the continuous process of the de-mythification" of Makarios, the English-language Cyprus Mail commented in a recent article under the headline: "Cutting Makarios down to size." The writer suggested that because of the island's national problem - the 34-year-old division of Cyprus - Greek Cypriots have been reluctant to probe painful areas of the past or "chip away at the reputation of leaders long hailed as heroes". Coincidentally, a book published yesterday by an outspoken journalist-historian, Makarios Drousiotis, argues that "mistakes and miscalculations" by Makarios in the early 1960s alienated the smaller Turkish Cypriot community and sowed the seeds of the island's division. However, Mr Drousiotis, who was given his uncommon first name by parents in honour of the late archbishop, advises against reading too much into the removal of his namesake's statue. "The [current] archbishop admires Makarios, but he just felt that the statue is too big." Tourism officials must hope that Nicosia's loss will be the mountains' gain: the statue will dominate the jagged skyline there from miles around, possibly serving as a magnet for day-tripping holidaymakers from the coast. Nikos Kotziamanis, the sculptor and artist who created the monumental Makarios statue, said that he was not consulted about its displacement and feared it could be damaged in the move: it has iron roots penetrating deep into concrete foundations. "Of course I'm insulted," he said. He opposed its removal but not, he insisted, because he sculpted it. "Makarios was a giant on the world stage," he said, adding that its current location is the most appropriate. "Whenever Makarios was facing difficulties, the people of Cyprus gathered at that spot to call on him to be strong and to continue the struggle for justice." mtheodoulou@thenational.ae

F1 drivers' standings

1. Lewis Hamilton, Mercedes 281

2. Sebastian Vettel, Ferrari 247

3. Valtteri Bottas, Mercedes 222

4. Daniel Ricciardo, Red Bull 177

5. Kimi Raikkonen, Ferrari 138

6. Max Verstappen, Red Bull 93

7. Sergio Perez, Force India 86

8. Esteban Ocon, Force India 56

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Results

2pm: Serve U – Maiden (TB) Dh60,000 (Dirt) 1,400m; Winner: Violent Justice, Pat Dobbs (jockey), Doug Watson (trainer)

2.30pm: Al Shafar Investment – Conditions (TB) Dh100,000 (D) 1,400m; Winner: Desert Wisdom, Bernardo Pinheiro, Ahmed Al Shemaili

3pm: Commercial Bank of Dubai – Handicap (TB) Dh68,000 (D) 1,200m; Winner: Fawaareq, Sam Hitchcott, Doug Watson

3.30pm: Shadwell – Rated Conditions (TB) Dh100,000 (D) 1,600m; Winner: Down On Da Bayou, Xavier Ziani, Salem bin Ghadayer

4pm: Dubai Real Estate Centre – Maiden (TB) Dh60,000 (D) 1,600m; Winner: Rakeez, Patrick Cosgrave, Bhupat Seemar

4.30pm: Al Redha Insurance Brokers – Handicap (TB) Dh78,000 (D) 1,800m; Winner: Capla Crusader, Bernardo Pinheiro, Rashed Bouresly

How to apply for a drone permit
  • Individuals must register on UAE Drone app or website using their UAE Pass
  • Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
  • Upload the training certificate from a centre accredited by the GCAA
  • Submit their request
What are the regulations?
  • Fly it within visual line of sight
  • Never over populated areas
  • Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
  • Users must avoid flying over restricted areas listed on the UAE Drone app
  • Only fly the drone during the day, and never at night
  • Should have a live feed of the drone flight
  • Drones must weigh 5 kg or less
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 
Volvo ES90 Specs

Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)

Power: 333hp, 449hp, 680hp

Torque: 480Nm, 670Nm, 870Nm

On sale: Later in 2025 or early 2026, depending on region

Price: Exact regional pricing TBA

A MINECRAFT MOVIE

Director: Jared Hess

Starring: Jack Black, Jennifer Coolidge, Jason Momoa

Rating: 3/5

The National's picks

4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young

Blackpink World Tour [Born Pink] In Cinemas

Starring: Rose, Jisoo, Jennie, Lisa

Directors: Min Geun, Oh Yoon-Dong

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.”

Pearls on a Branch: Oral Tales
​​​​​​​Najlaa Khoury, Archipelago Books

The National in Davos

We are bringing you the inside story from the World Economic Forum's Annual Meeting in Davos, a gathering of hundreds of world leaders, top executives and billionaires.

Results

7pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (Dirt) 1,600m; Winner: RB Kings Bay, Abdul Aziz Al Balushi (jockey), Helal Al Alawi (trainer)

7.30pm: Maiden (PA) Dh 70,000 (D) 1,600m; Winner: AF Ensito, Fernando Jara, Mohamed Daggash

8pm: Maiden (PA) Dh70,000 (D) 1,400m; Winner: AF Sourouh, Tadhg O’Shea, Ernst Oertel

8.30pm: Maiden (PA) Dh70,000 (D) 1,800m; Winner: Baaher, Fabrice Veron, Eric Lemartinel

9pm: Maiden (PA) Dh70,000 (D) 2,000m; Winner: Mootahady, Antonio Fresu, Eric Lemartinel

9.30pm: Handicap (TB) Dh70,000 (D) 2,000m; Winner: Dubai Canal, Tadhg O’Shea, Satish Seemar

10pm: Al Ain Cup – Prestige (PA) Dh100,000 (D) 2,000m; Winner: Harrab, Bernardo Pinheiro, Majed Al Jahouri

Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

The White Lotus: Season three

Creator: Mike White

Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5