I read with great sadness the story about the accidental death of the 12-year-old boy playing superheroes (Boy hanged himself 'by accident', October 5). My deepest sympathies go out to his family.
After another recent terrible tragedy, the case of the 5-year-old who fell out of the window and died, followed by his distraught mother, the police have urged parents not to leave children unattended.
But this brings up an important and tricky question. What age is considered old enough to be left at home alone? Even a 12- year-old sometimes just plays without considering the possible consequences of simple actions.
At what age can we say that childhood ends and the responsibilities and wisdom of adulthood start?
AJ Brown, Dubai
Don't let children be the victims
I refer to Tragic widow may have to leave (October 7).
These children and their mother should not be pawns. Regardless of what bad choices their father may have made, these children need our compassion and charity - and practical help.
When tragedy affects those far from home, we are so quick to respond. Let's do the same, if not more, in this instance!
Rebecca Lavallee, Abu Dhabi
Dubai should enforce law evenly
I congratulate Dubai Municipality for its initiative to promote safety by demolishing derelict buildings (Hundreds of empty buildings torn down, October 6).
However, some people openly and repeatedly flout local rules and laws on this subject without attracting punishment, even after people have tried to point out such violations to the authorities.
Pankaj Shah, Dubai
Item on 1973 war distorted history
I was interested in the item October 1973 war was glorious for Egypt in your Arabic News Digest (October 7).
The writer in the Egyptian paper Al Gomhuria certainly got carried away with revisionist history.
Which part was most glorious, I wonder: launching the war on the most solemn Jewish holy day or the Israeli counter-attack which ended up deep in Egypt or the much-higher Egyptian casualties?
Thank you for letting us know how Egyptian public opinion is being manipulated.
Thomas Hensher, US
Fine is not enough for cat torturer
After reading Brutal torture of cat shot 12 times (October 6) I was totally devastated to realise that there is a cruel sick person out there capable of committing such a terrible crime.
I believe such a person, so inhumane, must be treated like the worst of criminals and put in prison. A fine is just not enough.
I agree we need to work more in creating awareness, and enforcement to stop animal cruelty. But we also need to create a fund to help find and bring to justice those who mistreat or torture defenceless animals.
I hope Mickey's condition will improve.
Wilma Burton, Abu Dhabi
Torturing animals is, I believe, often a sign of serious mental problems. Sometimes young people who are capable of doing such things grow into adults who are capable of serious crimes against human beings.
So I hope that the person(s) who shot that poor cat can be found and given treatment, not just punishment.
Tina Donaldson, Abu Dhabi
Do not mock parents for caring
Rupert Wright (Economic siestas and box lunch notes (October 7) is too busy to make his kids' lunches but is mocking the desire for working parents to connect with their children during the day.
As a mother of twins who is often off to work before her children even wake up in the morning, I find that the Lunchbox Love Notes are a particularly convenient way for me to make a small yet meaningful connection to my children even though we are not together during the day.
I personalise each one, just as I do with purchased birthday cards. Does Wright think it is necessary to make homemade birthday cards to ensure creativity?
Faith Pascal, US
Whole quotation is more revealing
I have a comment on Scapegoats and deceivers: where the loyalties of leaders lie (October 7).
Your book reviewer should have recalled the complete quotation from Sir Henry Wotton: "An ambassador is a man of virtue sent to lie abroad for his country; a news-writer is a man without virtue who lies at home for himself."
Philip Bowler, Abu Dhabi
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.”
Dubai Rugby Sevens
November 30-December 2, at The Sevens, Dubai
Gulf Under 19
Pool A – Abu Dhabi Harlequins, Jumeirah College Tigers, Dubai English Speaking School 1, Gems World Academy
Pool B – British School Al Khubairat, Bahrain Colts, Jumeirah College Lions, Dubai English Speaking School 2
Pool C - Dubai College A, Dubai Sharks, Jumeirah English Speaking School, Al Yasmina
Pool D – Dubai Exiles, Dubai Hurricanes, Al Ain Amblers, Deira International School
UAE currency: the story behind the money in your pockets
The five pillars of Islam
Gulf Under 19s final
Dubai College A 50-12 Dubai College B
PROFILE OF INVYGO
Started: 2018
Founders: Eslam Hussein and Pulkit Ganjoo
Based: Dubai
Sector: Transport
Size: 9 employees
Investment: $1,275,000
Investors: Class 5 Global, Equitrust, Gulf Islamic Investments, Kairos K50 and William Zeqiri
THE SPECS
Engine: 1.5-litre
Transmission: 6-speed automatic
Power: 110 horsepower
Torque: 147Nm
Price: From Dh59,700
On sale: now
Red Sparrow
Dir: Francis Lawrence
Starring: Jennifer Lawrence, Joel Egerton, Charlotte Rampling, Jeremy Irons
Three stars
Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
ADCC AFC Women’s Champions League Group A fixtures
October 3: v Wuhan Jiangda Women’s FC
October 6: v Hyundai Steel Red Angels Women’s FC
October 9: v Sabah FA
More coverage from the Future Forum
Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
Founders: Abdulmajeed Alsukhan, Turki Bin Zarah and Abdulmohsen Albabtain.
Based: Riyadh
Offices: UAE, Vietnam and Germany
Founded: September, 2020
Number of employees: 70
Sector: FinTech, online payment solutions
Funding to date: $116m in two funding rounds
Investors: Checkout.com, Impact46, Vision Ventures, Wealth Well, Seedra, Khwarizmi, Hala Ventures, Nama Ventures and family offices