David Guetta, Enrique Iglesias and The Black Eyed Peas are among an exciting line-up of acts due to play in Saudi Arabia next month as part of the Ad Diriyah Grand Prix, Formula E's debut in the Middle East. OneRepublic, Jason Derulo and Amr Diab complete the bill. Formula E, conceived in 2011, is a class of auto-racing that uses only electric-powered cars.
The acts will take to the stage over three nights at Ad Diriyah, a heritage site north-west of Riyadh, between December 13 and 15.
December 13
Spanish sensation Enrique Iglesias, who has sold over 170 million albums worldwide, headlines the opening night, with R&B star Jason Derulo supporting.
December 14
After Egyptian singer Amr Diab has performed a set of his beautiful “Mediterranean Music”, The Black Eyed Peas will headline the second night, no doubt delivering hit after hit, including Where is the Love? and Let’s Get It Started.
December 15
Following a day of Formula E, OneRepublic and David Guetta headline the final night. American pop-rockers OneRepublic will get the pat started with hits such as Counting Stars and Love Runs Out. Superstar DJ David Guetta then closes proceedings, his chart-topping dance bangers sure to round things off in style.
Access to the shows are complimentary for Formula E ticket holders. Tickets for December 13 and 14 start at SAR295 (Dh289); tickets for race day on December 15 start at SAR395 (Dh387); three-day tickets start at SAR950 (Dh930).
For more information and tickets, visit www.ad-diriyah-eprix.com
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Favourite quote: “If you’re going through hell, keep going” Winston Churchill
Favourite breed of dog: All of them. I can’t possibly pick a favourite.
Favourite place in the UAE: The Stray Dogs Centre in Umm Al Quwain. It sounds predictable, but it honestly is my favourite place to spend time. Surrounded by hundreds of dogs that love you - what could possibly be better than that?
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The Melbourne Mercer Global Pension Index
The Melbourne Mercer Global Pension Index
Mazen Abukhater, principal and actuary at global consultancy Mercer, Middle East, says the company’s Melbourne Mercer Global Pension Index - which benchmarks 34 pension schemes across the globe to assess their adequacy, sustainability and integrity - included Saudi Arabia for the first time this year to offer a glimpse into the region.
The index highlighted fundamental issues for all 34 countries, such as a rapid ageing population and a low growth / low interest environment putting pressure on expected returns. It also highlighted the increasing popularity around the world of defined contribution schemes.
“Average life expectancy has been increasing by about three years every 10 years. Someone born in 1947 is expected to live until 85 whereas someone born in 2007 is expected to live to 103,” Mr Abukhater told the Mena Pensions Conference.
“Are our systems equipped to handle these kind of life expectancies in the future? If so many people retire at 60, they are going to be in retirement for 43 years – so we need to adapt our retirement age to our changing life expectancy.”
Saudi Arabia came in the middle of Mercer’s ranking with a score of 58.9. The report said the country's index could be raised by improving the minimum level of support for the poorest aged individuals and increasing the labour force participation rate at older ages as life expectancies rise.
Mr Abukhater said the challenges of an ageing population, increased life expectancy and some individuals relying solely on their government for financial support in their retirement years will put the system under strain.
“To relieve that pressure, governments need to consider whether it is time to switch to a defined contribution scheme so that individuals can supplement their own future with the help of government support,” he said.
Company profile
Company name: Nestrom
Started: 2017
Co-founders: Yousef Wadi, Kanaan Manasrah and Shadi Shalabi
Based: Jordan
Sector: Technology
Initial investment: Close to $100,000
Investors: Propeller, 500 Startups, Wamda Capital, Agrimatico, Techstars and some angel investors
