As the Middle East is drawn into war, expats and influencers are under pressure to only share the positive side of the UAE. In reality many are at risk of being put behind bars, and often find the UK government has little interest in helping them get out A four-metre barbed-wire fence runs through the desert at the UAE‑Omani border. In the early hours of 17 February 2021, Albert Douglas, 58, a Bri...
As the Middle East is drawn into war, expats and influencers are under pressure to only share the positive side of the UAE. In reality many are at risk of being put behind bars, and often find the UK government has little interest in helping them get out A four-metre barbed-wire fence runs through the desert at the UAE‑Omani border. In the early hours of 17 February 2021, Albert Douglas, 58, a British businessman, was creeping along it, looking for a way through. Douglas, who cuts a slight figure, wears spectacles and has a broad, earnest smile, never expected things to come to this. He’d been forced to abandon his home on Dubai’s Palm Jumeirah, the tree-shaped archipelago lined with upmarket residences, and go into hiding. Usually he’d be driving around in a Rolls-Royce, now he was in a pickup truck, being chauffeured by people smugglers. They’d transported him to the edge of the Al Ain border, which neighbours Oman, in the dead of the night. It was incredible, really, how fast the life he once led could evaporate. All that mattered now was getting to the other side of that fence. A few weeks earlier, Douglas had been sitting at home, watching his supreme court appeal via video link. He was being hounded by the Dubai authorities over debts incurred by his son Wolfgang Douglas’s company and, while Wolfgang was in the UK, Albert had been arrested. Albert was facing a £2.5m fine and a three-year prison sentence – this was his final chance for a reprieve. He had always believed the truth would prevail, but as he watched the hearing play out, his faith in the system deserted him. He decided to lie low in a friend’s apartment while he weighed his options. It soon became clear that he didn’t have any. “That’s when I decided to leave,” he says. “I left it not to the last minute, but the last second.” Continue reading...
Exposure response prevention may help her to cope with her anxiety and learn that she doesn’t need to respond to intrusive thoughts My daughter is 15 and has lived with obsessive compulsive disorder (OCD) for some time. Her compulsions change – counting, repetitive actions such as flicking light switches a certain number of times, showering/brushing her teeth in a particular order , placing things...
Exposure response prevention may help her to cope with her anxiety and learn that she doesn’t need to respond to intrusive thoughts My daughter is 15 and has lived with obsessive compulsive disorder (OCD) for some time. Her compulsions change – counting, repetitive actions such as flicking light switches a certain number of times, showering/brushing her teeth in a particular order , placing things in her bedroom in a certain way … She has had two courses of private therapy, but neither seemed to help. Both focused on the compulsions – for example, they’d encourage her to tackle one ritual at a time and try to eliminate it. It felt as though they were addressing the symptoms rather than the cause – ne w rituals can come to her in the moment and if one ritual is eliminated, it will quickly be replaced. Continue reading...
Brings old-school charm to a touristy part of town Burro , a new Italian restaurant in Covent Garden, London, had been on my horizons even before the napkins were on order, because Conor Gadd, the chef-owner, has form. His first restaurant Trullo , up in Islington, has sat unshakably around the top of my recommendations list for about 15 years and is namechecked by me at least twice weekly when co...
Brings old-school charm to a touristy part of town Burro , a new Italian restaurant in Covent Garden, London, had been on my horizons even before the napkins were on order, because Conor Gadd, the chef-owner, has form. His first restaurant Trullo , up in Islington, has sat unshakably around the top of my recommendations list for about 15 years and is namechecked by me at least twice weekly when complete strangers want a tip for a birthday, proposal or a client they need to impress. Or simply, “somewhere to take a foodie” who “really likes food”. Yes, the brief given to restaurant critics is often that vague, but to all these things I say: “Have you been to Trullo? Order the beef shin ragu and some good red wine. It’s been there for ages and they know what they’re doing.” While trends came and went – no reservations, no tablecloths, no seats, just benches and upturned buckets – Trullo kept on being an actual grownup restaurant. And now Gadd, via Burro, is bringing some of that authority and old-school charm to a more touristy side of town; to be specific, a few minutes from Covent Garden tube, off King Street in a hidden courtyard that leads down to Floral Street. Burro’s menu certainly has elements of her big sister, but perhaps erring more on the elegant but hearty side. Take the rough-hewn, well seasoned, luscious paté of Venetian chicken livers on a thick slab of bruschetta that sits on the antipasti section of the menu, but in all honesty would do as a main course with a glass of something bright, sharp and white to cut through all that fattiness. Or simply a negroni, as chosen by my dining companion, the long-suffering Charles. Continue reading...
In Les Rayons et les Ombres, Jean Dujardin plays a real-life press baron partying during the horrors of the second world war. Director Xavier Giannoli discusses bringing this still sensitive topic to light Xavier Giannoli’s new film Les Rayons et les Ombres (Rays and Shadows) is told from the postwar perspective of Corinne Luchaire, a French actor who was once hailed as “the new Garbo” but grew to...
In Les Rayons et les Ombres, Jean Dujardin plays a real-life press baron partying during the horrors of the second world war. Director Xavier Giannoli discusses bringing this still sensitive topic to light Xavier Giannoli’s new film Les Rayons et les Ombres (Rays and Shadows) is told from the postwar perspective of Corinne Luchaire, a French actor who was once hailed as “the new Garbo” but grew too close to the Nazis during the German occupation years. As Luchaire records her thoughts on a borrowed tape recorder, she struggles to reconcile her unfaltering devotion to her father, the once-powerful press baron Jean, with his 1946 execution for treason. Her wilful blindness collapses as the Jewish director who helped launch her career visits her cramped flat. When Corinne, played by newcomer Nastya Golubeva Carax, enquires after his sister, he reveals that she died in a concentration camp. “I didn’t know,” murmurs Corinne, only to be met with the devastating reply: “Did you even try to find out?” Continue reading...
Ofcom data points to more passive consumption amid changes to apps and fears about mental health and past posts Posting significant events in your life, from birthdays to weddings and promotions, is a social media staple. But Jenny, like many other Britons recently, has hesitated over contributing to the infinite scroll. “I wouldn’t have even posted my wedding really,” she says. “But I had to beca...
Ofcom data points to more passive consumption amid changes to apps and fears about mental health and past posts Posting significant events in your life, from birthdays to weddings and promotions, is a social media staple. But Jenny, like many other Britons recently, has hesitated over contributing to the infinite scroll. “I wouldn’t have even posted my wedding really,” she says. “But I had to because … There’s like an etiquette. Nobody else can post your wedding until you’ve posted. So my friends were like: ‘Please post, it’s been like a week.’” Continue reading...
Indonesia’s sovereign wealth fund is advancing a plan to combine the asset management units of state-owned lenders to boost their regional competitiveness. Danantara unit PT Danantara Asset Management signed deals on April 1 to acquire the investment management subsidiaries of PT Bank Mandiri , PT Bank Rakyat Indonesia , PT Bank Negara Indonesia and PT Permodalan Nasional Madani , subject to regul...
Indonesia’s sovereign wealth fund is advancing a plan to combine the asset management units of state-owned lenders to boost their regional competitiveness. Danantara unit PT Danantara Asset Management signed deals on April 1 to acquire the investment management subsidiaries of PT Bank Mandiri , PT Bank Rakyat Indonesia , PT Bank Negara Indonesia and PT Permodalan Nasional Madani , subject to regulatory approvals, according to stock exchange filings published late on Thursday. The wealth fund will acquire stakes for a total of 2.7 trillion rupiah ($158.8 million), as it seeks to create “a champion with strong competitiveness,” according to the filings. The filings confirm an earlier Bloomberg report that Danantara planned to combine the asset management firms it owns, aiming to build a larger player to compete locally and across the region, according to people familiar with the matter. Danantara representatives did not respond to requests for comment over the weekend. President Prabowo Subianto established Danantara last year in a bid to improve the efficiency of Indonesia’s powerful state-owned enterprises, reinvest the dividends and attract foreign capital into high-impact projects in Southeast Asia’s largest economy. It has injected capital into the nation’s distressed flag carrier and leading steelmaker.
China is undergoing a profound demographic shift, with its population ageing at a pace and scale unprecedented globally, and the trend has opened up significant opportunities for elderly care and insurance sectors. “This massive and rapidly expanding elderly population should be a major consumer of healthcare services and therapeutics,” Citi Research analyst John Yung said in a report in late Marc...
China is undergoing a profound demographic shift, with its population ageing at a pace and scale unprecedented globally, and the trend has opened up significant opportunities for elderly care and insurance sectors. “This massive and rapidly expanding elderly population should be a major consumer of healthcare services and therapeutics,” Citi Research analyst John Yung said in a report in late March. “The healthcare demands are rigid, long-term and diverse.” Age-friendly products are rapidly...
In this article VOW3-DE RNO-FR STLA Follow your favorite stocks CREATE FREE ACCOUNT Ludovic Marin | AFP | Getty Images The European car industry is in a structural crisis. Slowing demand for electric vehicles, lost market share to Chinese competitors and higher borrowing costs have created the perfect storm for the sector over the past five years, as sales volumes continue to slump well below pre-...
In this article VOW3-DE RNO-FR STLA Follow your favorite stocks CREATE FREE ACCOUNT Ludovic Marin | AFP | Getty Images The European car industry is in a structural crisis. Slowing demand for electric vehicles, lost market share to Chinese competitors and higher borrowing costs have created the perfect storm for the sector over the past five years, as sales volumes continue to slump well below pre-pandemic levels. Europe's automakers have a long history of producing defense equipment and weapons when called upon during wartime. Some firms now think returning to these roots could offer a lifeline. Analysts at Citi have dubbed this shift the "anything but autos" trade. On Monday, Renault announced it was developing a ground-based drone for military and civilian use. This followed its announcement of a partnership with defense group Turgis Gaillard in January to produce aerial drones in France. Meanwhile, German automaker Volkswagen is reportedly in talks with Israeli defense firm Rafael to produce parts for missile defense systems. The pair are in discussions to convert VW's factory in Osnabrück, Germany, into facilities for making components for the Israeli Iron Dome missile-defense system produced by Rafael, the FT reported on March 24. European autos are struggling to compete directly with Chinese rivals, such as BYD. While new-car sales dropped in the EU through January, BYD stunned the market by reporting a 175% year-on-year increase in deliveries to 13,982 units, according to ACEA data. The industry's decline is felt in carmakers' share prices, too. The Stoxx 600 Automobiles index has fallen 30% over the past five years as of April 2, while VW has tanked over 60% since then. Stellantis , which owns brands including Fiat and Peugeot, has shed 58% over the same period. Stock Chart Icon Stock chart icon How the STOXX Europe 600 Automobiles & Parts index has performed in the five years since April 2021. By contrast, the European defense industry is booming. The urgen...
The rescue of the air man from the F-15E fighter jet was announced by Donald Trump in a late night social media post Middle East crisis – live updates The second crew member of a downed F-15E fighter jet has been rescued by US forces, ending a dramatic two day search after the warplane crashed in south west Iran. The crew member sustained some injuries, said Donald Trump in a social media post soo...
The rescue of the air man from the F-15E fighter jet was announced by Donald Trump in a late night social media post Middle East crisis – live updates The second crew member of a downed F-15E fighter jet has been rescued by US forces, ending a dramatic two day search after the warplane crashed in south west Iran. The crew member sustained some injuries, said Donald Trump in a social media post soon after midnight EST. The US president called the operation to recover the airman “one of most daring search and rescue operations in U.S history”. Continue reading...
Hong Kong traveller Mr Lau is among those turning to high-speed rail trips or flights to mainland China after being deterred from international air travel by rising costs, particularly fuel surcharges, within a month of the United States-Israel attack on Iran. The 34-year-old, who was travelling to Guangzhou with his wife for a three-day trip on Friday on a high-speed train, said he had done some ...
Hong Kong traveller Mr Lau is among those turning to high-speed rail trips or flights to mainland China after being deterred from international air travel by rising costs, particularly fuel surcharges, within a month of the United States-Israel attack on Iran. The 34-year-old, who was travelling to Guangzhou with his wife for a three-day trip on Friday on a high-speed train, said he had done some calculations since airlines’ fuel surcharges had risen, noting that a return train trip between the...
Douglas Rissing/iStock via Getty Images By Jennifer Nash The yield on the 10-year note finished April 2, 2026, at 4.31%. Meanwhile, the 2-year note ended at 3.79%, and the 30-year yield ended at 4.88%. The chart below overlays the daily performance of several Treasury bonds, starting from the pre-recession equity market peaks, along with the Federal Funds Rate (FFR) since 2007. This next table sho...
Douglas Rissing/iStock via Getty Images By Jennifer Nash The yield on the 10-year note finished April 2, 2026, at 4.31%. Meanwhile, the 2-year note ended at 3.79%, and the 30-year yield ended at 4.88%. The chart below overlays the daily performance of several Treasury bonds, starting from the pre-recession equity market peaks, along with the Federal Funds Rate (FFR) since 2007. This next table shows the highs and lows of yields and the Federal Funds Rate since 2007. A Long-Term Look at the 10-Year Treasury Yield Here is a long-term view of the 10-year yield starting in 1965, well before the 1973 oil embargo that triggered the era of 'stagflation' (economic stagnation coupled with inflation) Inverted Yield Curve An inverted yield curve is when longer-term Treasury yields are lower than their shorter-term counterparts. The next chart displays the latest 10-2 spread. Typically, the spread turns negative for a period before rising again prior to recessions, as illustrated in the four recessions shown on this chart. For this reason, the 10-2 spread is widely considered a reliable leading indicator for recessions. The lead time between a negative spread and the onset of a recession varies, with recessions beginning anywhere from 18 to 92 weeks after the spread goes negative. One false positive is seen in 1998, where the spread briefly went negative without leading to a recession. In the case of the 2009 recession, the spread went negative multiple times before rising again. Most recently, the spread was continuously negative from July 5, 2022, to August 26, 2024. The last time the spread was negative was on September 5, 2024. If we consider the first negative spread date as the starting point, the average lead time to a recession is 48 weeks, or about eleven months. If we instead use the last positive spread date before a recession, the average lead time is 18.5 weeks, or about 4.25 months. For another perspective on the yield curve, the 10-3mo spread below uses an even s...