I have a house like this of my own, said ‘Sharjah’ Mohan, after he introduced himself to the tea sippers. It took him five years, he said. He was making so much money in Sharjah, it was crazy. Bullshit, said Krishnan Kutty – no man should make that in five years. But I did, assured ‘Sharjah’ Mohan, inviting them in for a tour of the place, smiling thanks as a tea sipper carried the dented Akai on his head.
The house, two stories, built to actual scale, was made of wax. The furnishings were also wax. The vegetables in the fridge were wax, ditto the cupboards in the bedroom, and the imported china and silverware in the kitchen. There was a wax baby in the crib, a wax scooter in the driveway, even an attached wax garage anticipating that wax car. I swear on my baby boy’s health, ‘Sharjah’ Mohan said, five years could lift your futures – companies are desperate for employees.
A woman with lice in her hair, the wife of the man who carried the TV, inquired about the logistics involved in sending a man to the Gulf. ‘Sharjah’ Mohan named a sum; a bargain, he added. He offered a discount and reassured her that he’d be helping with the paperwork. He even volunteered to accompany the husband to the Gulf, as long as everything checked out. It’s a bargain, woman with lice confirmed with her husband. A bargain, expectant mothers reminded menfolk. Bargain, sons informed parents with badly bitten nails, as crickets chirped and frogs lassoed bugs with their tongues. Bargain, ‘Sharjah’ Mohan smiled when asked about women, as shiny-eyed youth gladly poured homemade hooch.
A month later, the menfolk left. ‘Sharjah’ Mohan arranged four flat-top lorries to take them to the airport. They left with fresh passports, secured work permits, and a suitcase each. They all got haircuts, nice shoes, and kissed their lovers long and hard. They stashed their cash in secret pockets and some packed enough provisions for a month. Don’t worry, ‘Sharjah’ Mohan promised weeping relatives, they will be back in a year – fatter and richer – and in five, they’d be ready to retire.
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The Brutalist
Director: Brady Corbet
Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn
Rating: 3.5/5
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How will Gen Alpha invest?
Mark Chahwan, co-founder and chief executive of robo-advisory firm Sarwa, forecasts that Generation Alpha (born between 2010 and 2024) will start investing in their teenage years and therefore benefit from compound interest.
“Technology and education should be the main drivers to make this happen, whether it’s investing in a few clicks or their schools/parents stepping up their personal finance education skills,” he adds.
Mr Chahwan says younger generations have a higher capacity to take on risk, but for some their appetite can be more cautious because they are investing for the first time. “Schools still do not teach personal finance and stock market investing, so a lot of the learning journey can feel daunting and intimidating,” he says.
He advises millennials to not always start with an aggressive portfolio even if they can afford to take risks. “We always advise to work your way up to your risk capacity, that way you experience volatility and get used to it. Given the higher risk capacity for the younger generations, stocks are a favourite,” says Mr Chahwan.
Highlighting the role technology has played in encouraging millennials and Gen Z to invest, he says: “They were often excluded, but with lower account minimums ... a customer with $1,000 [Dh3,672] in their account has their money working for them just as hard as the portfolio of a high get-worth individual.”
Europe’s rearming plan
- Suspend strict budget rules to allow member countries to step up defence spending
- Create new "instrument" providing €150 billion of loans to member countries for defence investment
- Use the existing EU budget to direct more funds towards defence-related investment
- Engage the bloc's European Investment Bank to drop limits on lending to defence firms
- Create a savings and investments union to help companies access capital
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