Insurers should monitor supply of medicines
I am writing in reference to Insurers take a scalpel to hospital spending (January 27).
I became concerned about this trend several years ago when I realised that when filling prescriptions, hospital pharmacies would supply boxes of drugs rather than the exact amount prescribed.
In one case, I received much more than the prescribed amount. I was meant to receive 10 pills of each of three medicines, but I got a box of 20 for one drug and boxes of 24 for the other two.
I believe this kind of overselling should be addressed, as it would save the insurance companies from paying for pills that will just be thrown out.
R MacLaren, Dubai
Reading campaign deserves support
Thank you for Push to get public hooked on reading (January 26).
Hopefully, the publicity you have given to this initiative will encourage even more people to help promote it and make use of it.
I do hope an Arab celebrity gets behind the campaign and encourages young people to read.
Being able to read and write is the pathway to all other knowledge.
Michael Martin, Dubai
Children's safety a priority for all
Boy, 5, falls to death from open third-floor window in his home (January 26) is a tragic reminder for parents to childproof their residences.
You can't watch children for every second of every day. They can move quickly and they often do not realise the dangers that are in front of their eyes.
A safety audit of your home would take a short time, and may require a small investment in locks or other security devices.
Whatever the cost, it is worth it to save a precious human life.
Mary Morris, Dubai
Big audience for a very big match
I was not at all surprised to read Record number of viewers watch UAE's Gulf Cup victory over Iraq (January 25).
In fact, I would not be surprised if the actual number of viewers was higher than the 400,000 reported in your article.
I know that televisions in many public places - restaurants and hotels among them - were tuned in to the game, with dozens of viewers for each screen.
R Higgins, Abu Dhabi
Not the man we were looking for
I felt a strong disturbance in the Force when I read JJ Abrams to direct next Star Wars (January 27).
I have no objection to Abrams; in fact, I really enjoyed his 2009 reboot of Star Trek. But that's the problem; like many others, I believe the universes of Star Trek and Star Wars are separate and should remain that way.
I'm not suggesting that Abrams, whose technical capabilities I do not doubt, will have Mr Spock turn up in a cantina scene, but he may well bring a certain sensibility and style to the films that could be at odds with George Lucas's original vision.
Lucas has wisely handed over the reins of the franchise to Disney, knowing that others are now better placed to handle it. However, I think many Star Wars fans who yearn to see films more like the original trilogy than the recent prequels would have been happier with someone other than Abrams at the helm.
Of course, the reality is that we'll all go and see Star Wars VII, if only so we can complain about it.
S Lang, Dubai
More to Dotcom than meets the eye
I enjoyed reading your profile article, Kim Dotcom, a mega player with problems (January 25).
I had no idea about his background and previous adventures; I just thought he was some guy making money by enabling people to share computer files on a "don't ask, don't tell" basis.
Charles Grundy, Dubai
China must lead over North Korea
I agree with the opinions expressed in the letter Wrong priorities in North Korea (January 27).
The sad truth is that Kim Jong-un is highly unlikely to budge from his position. In fact, he seems to take pride in his recalcitrance. I suppose that by generating the impression that the whole world is against North Korea, he feels he is somehow insulating himself from any potential internal threat.
At the moment he listens to nobody's counsel, including that of his only "friends" in China.
While China may have its own reasons for not taking a firmer hand, only its threat of direct consequences - and the will to carry through on that threat - will make any difference.
N Sloane, UK
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
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: 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
Classification of skills
A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation.
A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.
The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000.
Company%20profile
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Kandahar%20
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Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
More from Rashmee Roshan Lall
Who has been sanctioned?
Daniella Weiss and Nachala
Described as 'the grandmother of the settler movement', she has encouraged the expansion of settlements for decades. The 79 year old leads radical settler movement Nachala, whose aim is for Israel to annex Gaza and the occupied West Bank, where it helps settlers built outposts.
Harel Libi & Libi Construction and Infrastructure
Libi has been involved in threatening and perpetuating acts of aggression and violence against Palestinians. His firm has provided logistical and financial support for the establishment of illegal outposts.
Zohar Sabah
Runs a settler outpost named Zohar’s Farm and has previously faced charges of violence against Palestinians. He was indicted by Israel’s State Attorney’s Office in September for allegedly participating in a violent attack against Palestinians and activists in the West Bank village of Muarrajat.
Coco’s Farm and Neria’s Farm
These are illegal outposts in the West Bank, which are at the vanguard of the settler movement. According to the UK, they are associated with people who have been involved in enabling, inciting, promoting or providing support for activities that amount to “serious abuse”.
UAE currency: the story behind the money in your pockets
