A reader is looking forward to seeing the Harlem Globetrotters, but hopes they lose for once. Nicholas Kamm / AFP
A reader is looking forward to seeing the Harlem Globetrotters, but hopes they lose for once. Nicholas Kamm / AFP
A reader is looking forward to seeing the Harlem Globetrotters, but hopes they lose for once. Nicholas Kamm / AFP
A reader is looking forward to seeing the Harlem Globetrotters, but hopes they lose for once. Nicholas Kamm / AFP

Generals on the rebound?


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Globetrotters due for a drubbing

I was delighted to read Harlem Globetrotters return next month to UAE after five years (September 6).

To be honest, I did not realise that the Globetrotters were still around. For some reason, I associate them with a bygone era.

I do hope they will bring the Washington Generals with them.

I read online that this team, created especially to compete against the Globetrotters, has the longest losing streak of any professional basketball team, perhaps of any team in any sport anywhere in the world.

Could an overdue upset win for the Generals be on the cards as a special treat for UAE fans?

I certainly hope so.

Colin Richards, Abu Dhabi

Praise for police’s attitude towards protecting women

I was very disturbed to read Most sexual assaults are never reported (September 5).

However, I was also encouraged that, as the story explains, the Dubai police are taking things seriously and looking for solutions that navigate the complexities surrounding the issue.

Attitudes certainly need to change and, it would seem, so does the law.

Mary Morris, Dubai

School mess must be sorted quickly

Regarding School shuts as boss denies stealing funds (September 6), whatever happened, parents, staff and children have been left in limbo.

Parents have paid first-term fees; what will happen to this money?

Staff returning from holidays may still be due some pay and new teachers and other staff who have resigned their jobs and moved to Dubai are now left without any work or anywhere to go.

Let's hope the mess gets sorted quickly. What a shame.

Patricia Trudgeon, Dubai

Will Apple remain on centre stage?

While I was excited, as an iPhone user, to read Red letter day for Apple (September 6), it also made me stop and think.

History tells us that no business can hope to remain at the top of the pile forever.

With Nokia unveiling its Windows 8 phones and affordable Android devices everywhere (despite Apple's best efforts to stop them in the courts) how long will it be until a new unveiling by Apple is a ho-hum affair?

Trevor Long, Abu Dhabi

Illegal antiquities trade hard to stop

The story about the antique gold coins (Police given Dh2.5m tip over old coin sale, September 6) was fascinating. It seems to me that efforts to prevent this illegal trade are failing.

In this case only a tip-off allowed the police to catch the alleged criminals. Globally, antiquities from many places, and at many values, change hands illegally every day.

Ted Poulin, Dubai

Navy showed the pirates who's boss

There's nothing like a naval vessel to chase pirates away.

Abu Dhabi tanker released by pirates (September 6) tells of a ship taken by pirates in or near Nigerian waters. But when a Nigerian navy ship pulled up along side, the pirates ran away.

A strong naval presence, good intelligence, and international cooperation are the keys to suppressing damaging and dangerous piracy.

Alex Manardhi, Abu Dhabi

Kurds must alter recognition tactics

I fully agree with your editorial, Violence weakens Kurdish interests (September 4). Do not blame the Kurds, blame the severe, long repression that they have been subjected to in Turkey and Syria.

Even in Iran the Islamic revolution meant more violent repression by the Revolutionary Guards of any Kurdish national aspirations.

Perhaps the reaction of the PKK (Kurdistan Workers Party) is natural. Trust takes time and the onus is really on the governments controlling Kurdish areas to gain the trust of the Kurds.

Having said that, I agree that the time is ripe for change - especially in Turkey, which has come to realise the need to recognise the Kurds' legitimate aspirations.

The PKK has to change tactics and add its weight to other Kurdish parties working within the democratic institution of Turkey to bring about change.

I understand the Kurdistan Regional Government (KRG) in Iraqi Kurdistan - a great success story for the Kurds, although it took nearly 100 years to achieve - takes the same line with the PKK.

Doubtless this is the reason the KRG and Turkey, a heavyweight in world politics and a member of Nato, are on such good terms. This can only benefit other Kurds.

Shamal Karim, 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.”

The specs
  • Engine: 3.9-litre twin-turbo V8
  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
  • Price: Not announced yet
The specs

Engine: 2.0-litre 4cyl turbo

Power: 261hp at 5,500rpm

Torque: 405Nm at 1,750-3,500rpm

Transmission: 9-speed auto

Fuel consumption: 6.9L/100km

On sale: Now

Price: From Dh117,059

Infiniti QX80 specs

Engine: twin-turbocharged 3.5-liter V6

Power: 450hp

Torque: 700Nm

Price: From Dh450,000, Autograph model from Dh510,000

Available: Now

Company%20Profile
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UAE currency: the story behind the money in your pockets
It Was Just an Accident

Director: Jafar Panahi

Stars: Vahid Mobasseri, Mariam Afshari, Ebrahim Azizi, Hadis Pakbaten, Majid Panahi, Mohamad Ali Elyasmehr

Rating: 4/5

The Library: A Catalogue of Wonders
Stuart Kells, Counterpoint Press

Other IPL batting records

Most sixes: 292 – Chris Gayle

Most fours: 491 – Gautam Gambhir

Highest individual score: 175 not out – Chris Gayle (for Royal Challengers Bangalore against Pune Warriors in 2013)

Highest strike-rate: 177.29 – Andre Russell

Highest strike-rate in an innings: 422.22 – Chris Morris (for Delhi Daredevils against Rising Pune Supergiant in 2017)

Highest average: 52.16 – Vijay Shankar

Most centuries: 6 – Chris Gayle

Most fifties: 36 – Gautam Gambhir

Fastest hundred (balls faced): 30 – Chris Gayle (for Royal Challengers Bangalore against Pune Warriors in 2013)

Fastest fifty (balls faced): 14 – Lokesh Rahul (for Kings XI Punjab against Delhi Daredevils in 2018)

 

The Sand Castle

Director: Matty Brown

Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea

Rating: 2.5/5

Sole survivors
  • Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
  • George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
  • Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
  • Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.