Pistachio is not a nut. Technically, it's a seed, which is housed in a hard pale shell.
Pistachio is not a nut. Technically, it's a seed, which is housed in a hard pale shell.

Pistachio



"I used to be able to name every nut that there was, and it used to drive my mother crazy..." So said Christopher Guest's character, Harlan Pepper, in the American mockumentary about canine competitiveness, Best In Show. "Peanut, hazelnut, cashew nut, macadamia nut... pistachio nut, red pistachio nut. Natural, all-natural white pistachio nut..." Thankfully, Harlan Pepper was cut off there, but he might easily have droned on and on about at least 50 varieties of pistachio. I won't drone on and on about pistachios (I promise), but I will try to give you the lowdown on one of the world's favourite nuts.

For starters, it's not a nut. Technically, it's a seed, which is housed in a hard pale shell. The kernel - or edible part - has a purplish outer skin and green flesh, which when cracked onto a variety of sweet and savoury dishes brings not only colour, but a distinctive woody flavour. It's versatility has made it popular throughout the Middle East. It grew wild in the mountains of Afghanistan, Turkmenistan and Iran, where it has been cultivated for over 3,000 years. It is said that in ancient Persia, sweethearts used to meet under pistachio trees to hear the opening shells pop, which was a sign of future happiness. These days they are Iran's third most lucrative commodity, after oil and textiles.

A home wouldn't be a home in Iran without bowls of pistachios to offer guests. And most of them will have been grown in the Kerman province, which also provides many of the pistachios exported around the globe. These are the big ones, which are ideal for opening in the hand and munching on with drinks and friends in a casual or convivial setting. The nuts can be roasted whole in advance, to impart extra flavour. It cannot be denied, pistachios make great and very simple snacks. But once you've cracked the pistachio, a whole world of possibilities opens up.

Alongside filo pastry, walnuts, almonds, cream cheese and honey, crushed pistachio is a main ingredient in a plethora of Arabic sweets, from baklava to kanafeh. And then there's pistachio ice cream, of course. But pistachio works surprisingly well with savouries too. They can be crushed and used to encrust slices of goat cheese, and served with a green salad dressed in olive oil. In fact they can be used to encrust all kinds of things, from chicken and lamb to vegetables and fish. Try covering some prime tuna steaks with a topping of crushed pistachio, black pepper, salt and black sesame seeds, sautéing gently in groundnut oil and serving with wasabi paste mixed with mayonnaise for a Japanese treat so good you'll be talking about it for weeks. Now who's droning on and on?

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
SPECS
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Paris%20Agreement
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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.”

The Brutalist

Director: Brady Corbet

Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn

Rating: 3.5/5

Drishyam 2

Directed by: Jeethu Joseph

Starring: Mohanlal, Meena, Ansiba, Murali Gopy

Rating: 4 stars

Black Panther
Dir: Ryan Coogler
Starring: Chadwick Boseman, Michael B Jordan, Lupita Nyong'o
Five stars

Game Changer

Director: Shankar 

Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram

Rating: 2/5

RESULT

Huddersfield Town 2 Manchester United 1
Huddersfield: Mooy (28'), Depoitre (33')
Manchester United: Rashford (78')

 

Man of the Match: Aaron Mooy (Huddersfield Town)

The finalists

Player of the Century, 2001-2020: Cristiano Ronaldo (Juventus), Lionel Messi (Barcelona), Mohamed Salah (Liverpool), Ronaldinho

Coach of the Century, 2001-2020: Pep Guardiola (Manchester City), Jose Mourinho (Tottenham Hotspur), Zinedine Zidane (Real Madrid), Sir Alex Ferguson

Club of the Century, 2001-2020: Al Ahly (Egypt), Bayern Munich (Germany), Barcelona (Spain), Real Madrid (Spain)

Player of the Year: Cristiano Ronaldo, Lionel Messi, Robert Lewandowski (Bayern Munich)

Club of the Year: Bayern Munich, Liverpool, Real Madrid

Coach of the Year: Gian Piero Gasperini (Atalanta), Hans-Dieter Flick (Bayern Munich), Jurgen Klopp (Liverpool)

Agent of the Century, 2001-2020: Giovanni Branchini, Jorge Mendes, Mino Raiola

Francesco Totti's bio

Born September 27, 1976

Position Attacking midifelder

Clubs played for (1) - Roma

Total seasons 24

First season 1992/93

Last season 2016/17

Appearances 786

Goals 307

Titles (5) - Serie A 1; Italian Cup 2; Italian Supercup 2

Analysis

Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more

Islamic%20Architecture%3A%20A%20World%20History
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UAE currency: the story behind the money in your pockets

GOLF’S RAHMBO

- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)