• Host Terry Crews, far left, with members of the female Lebanese dance troupe Mayyas, who were crowned winners of the latest season of 'America's Got Talent'. AP
    Host Terry Crews, far left, with members of the female Lebanese dance troupe Mayyas, who were crowned winners of the latest season of 'America's Got Talent'. AP
  • The Lebanese troupe will take home a $1 million prize and the chance to headline a Las Vegas show. AP
    The Lebanese troupe will take home a $1 million prize and the chance to headline a Las Vegas show. AP
  • Mayyas react to the announcement they had won this season of 'America's Got Talent'. Getty Images
    Mayyas react to the announcement they had won this season of 'America's Got Talent'. Getty Images
  • Kristy Sellars and Terry Crews react as Mayyas are announced the winners of season 17 of 'America's Got Talent'. Getty Images
    Kristy Sellars and Terry Crews react as Mayyas are announced the winners of season 17 of 'America's Got Talent'. Getty Images
  • America's Got Talent finale, from left, Mayyas, Terry Crews, Chapel Hart, Metaphysic, Drake Milligan, Kristy Sellars. Getty Images
    America's Got Talent finale, from left, Mayyas, Terry Crews, Chapel Hart, Metaphysic, Drake Milligan, Kristy Sellars. Getty Images
  • Nadim Cherfan, centre, with the dance group Mayyas, winners of season 17. Getty Images
    Nadim Cherfan, centre, with the dance group Mayyas, winners of season 17. Getty Images
  • Mayyas perform during the 'America's Got Talent' finals on September 13. Getty Images
    Mayyas perform during the 'America's Got Talent' finals on September 13. Getty Images
  • The co-ordinated dance featured white, feathered outfits and sparkling globes of light in a moody routine that won a standing ovation from the crowd. Getty Images
    The co-ordinated dance featured white, feathered outfits and sparkling globes of light in a moody routine that won a standing ovation from the crowd. Getty Images
  • Appearing on 'America's Got Talent', the group have their sights set on winning the coveted $1 million prize. Getty Images
    Appearing on 'America's Got Talent', the group have their sights set on winning the coveted $1 million prize. Getty Images
  • Terry Crews with Mayyas on stage. Getty Images
    Terry Crews with Mayyas on stage. Getty Images
  • Mayyas attend an 'America's Got Talent' Season 17 live show at Sheraton Pasadena Hotel in California. Getty Images
    Mayyas attend an 'America's Got Talent' Season 17 live show at Sheraton Pasadena Hotel in California. Getty Images
  • Lebanese dance troupe Mayyas perform in the semi-finals of 'America's Got Talent'. Getty
    Lebanese dance troupe Mayyas perform in the semi-finals of 'America's Got Talent'. Getty
  • Judge Simon Cowell said the performance was 'as good as it gets'. Getty
    Judge Simon Cowell said the performance was 'as good as it gets'. Getty
  • The group danced to a selection of Arabic melodies. Photo: YouTube
    The group danced to a selection of Arabic melodies. Photo: YouTube
  • Lebanese dance crew Mayyas have appeared on season 17 of 'America's Got Talent'. Getty
    Lebanese dance crew Mayyas have appeared on season 17 of 'America's Got Talent'. Getty
  • Judges Simon Cowell, Heidi Klum, Howie Mandel and Sofia Vergara said they felt 'hypnotised'. Getty
    Judges Simon Cowell, Heidi Klum, Howie Mandel and Sofia Vergara said they felt 'hypnotised'. Getty
  • The Lebanese dance company won season six of 'Arabs Got Talent' in 2019. Photo: MBC
    The Lebanese dance company won season six of 'Arabs Got Talent' in 2019. Photo: MBC
  • Mayyas celebrate with choreographer Nadim Cherfan (in black), after their ‘Arabs Got Talent’ win. Photo: MBC
    Mayyas celebrate with choreographer Nadim Cherfan (in black), after their ‘Arabs Got Talent’ win. Photo: MBC
  • Mayyas's 'Arabs Got Talent' win came with a new car and a 200,000 Saudi riyal ($53,333) cash prize. Photo: MBC
    Mayyas's 'Arabs Got Talent' win came with a new car and a 200,000 Saudi riyal ($53,333) cash prize. Photo: MBC
  • The group are known for their physical style, performed to Arabic melodies. Photo: MBC
    The group are known for their physical style, performed to Arabic melodies. Photo: MBC
  • At the time, Mayyas said they planned to use their 'Arabs Got Talent' cash prize to set up a dance studio. Photo: MBC
    At the time, Mayyas said they planned to use their 'Arabs Got Talent' cash prize to set up a dance studio. Photo: MBC
  • After winning 'Arabs Got Talent', they appeared on the UK spin-off 'Britain's Got Talent: The Champions' in 2019. Photo: Shutterstock
    After winning 'Arabs Got Talent', they appeared on the UK spin-off 'Britain's Got Talent: The Champions' in 2019. Photo: Shutterstock
  • The group on 'Britain's Got Talent: The Champions'. Photo: Shutterstock
    The group on 'Britain's Got Talent: The Champions'. Photo: Shutterstock

Six top performances by Mayyas, from the Fiba Asia Cup to 'America's Got Talent'


Saeed Saeed
  • English
  • Arabic

Lebanese dance company Mayyas is taking the US by storm thanks to their star turn on America's Got Talent this week.

For those in the Arab world, however, their success on the show is unsurprising.

Before wowing celebrity judges Heidi Klum, Howie Mandel and Sofia Vergara with their golden buzzer-worthy performance, the ensemble had been capturing attention in the region for years with their spectacular routines informed by Middle Eastern culture.

"We aspire to offer a different take on the art of movement," choreographer Nadim Cherfan told The National in a previous interview.

"We aim to break the current stereotype in some parts of the region that dance is lowly or indecent, as it is the oldest form of expression and is inherent to the fabric of human folklore."

Here are five other noteworthy performances from Mayyas over the years.

Fiba Asia Cup (2017)

Prior to the television fame and acclaim, Mayyas were renowned within the Lebanese live events industry as a hard-working group.

In one of their earliest major shows, the group were chosen to perform as part of the opening ceremony for the 2017 Fiba Asia Cup, a basketball tournament held in Lebanon.

The footage shows how Mayyas refined their raw talent to become a world-class act.

'Arabs Got Talent' debut (2019)

It was the Arab world's introduction to this amateur dance company in Beirut.

Appearing as part of the sixth season of Arabs Got Talent, the crew made an immediate impact with a startling routine inspired by Arabic folkloric dance traditions.

When introducing the group to the celebrity judging panel comprising Lebanese singer Najwa Karam, Egyptian comedian Ahmed Helmi and Dubai television executive Ali Jaber, choreographer Nadim Cherfan described the group's approach as a "fusion of different styles".

"Practicing this kind of dance requires technique and patience as many mistakes will be immediately spotted," he said.

"We came to this programme because we wanted to dream. It has been a while since we had a cause to dream."

'Arabs Got Talent' finale (2019)

Mayyas emerged victorious out of a competitive line-up of 10 finalists, winning the television talent quest, which was broadcast live to millions across the Mena region on pan-Arab broadcaster MBC.

The win, which was decided solely through television audiences texting their votes, marked the first time a Lebanese act took home the title in the competition's six-season run.

In a dance routine that can be best described as "Beirut meets Las Vegas", the more than two dozen dancers of Mayyas were split between those wearing all-green, to resemble a peacock, and those with their bodies painted in gold as they took on the roles of warrior women.

The peacocks had dance moves straight out of the 1950s and 1960s, while the gilded women were front and centre with regional choreography, from belly dancing to hair-swaying.

In a particular prescient comment, Helmi said: “I don’t mean to be in any way disrespectful to the show, but in a way you guys are bigger than this programme… you are ready to take the next step and you can do great.”

'Britain’s Got Talent: The Champions' (2019)

It takes something special to elicit praise from the cantankerous Simon Cowell.

Mayyas achieved this when appearing in Britain's Got Talent: The Champions, an international spin-off of the British talent show.

Mayyas were one of 45 acts that competed in a pool that featured talent hailing from the UK, India, Philippines, South Africa, Spain, Singapore and other countries.

As the Middle East's sole representative, the troupe did brilliantly.

Performing in front of a pyramid backdrop, they engaged in a fluid routine that created an enchanting vibe.

It was only two minutes long, but it was enough for the crowd and judging panel to be impressed.

"That was absolutely genius and inventive," Cowell said. "I’ve never seen a dance act like this ever on any of these shows."

El Gouna Film Festival (2020)

In 2020, Mayyas became the toast of the Arab film industry with a sparkling performance at the El Gouna Film Festival in Egypt.

As part of a televised ceremony, the group performed an energetic routine paying tribute to the golden age of Arabic cinema, with plenty of evocative handwork and belly dancing.

Abu Dhabi's Peter Rosalita on his 'America's Got Talent' journey — in pictures

  • Peter Rosalita at Universal Studios in Hollywood. Photo: Mary Jane Villegas
    Peter Rosalita at Universal Studios in Hollywood. Photo: Mary Jane Villegas
  • Peter Rosalita, then aged 10, with his parents Ruel Rosalita, Vilma Villegas and aunt Mary Jane Villegas in Abu Dhabi. Khushnum Bhandari / The National
    Peter Rosalita, then aged 10, with his parents Ruel Rosalita, Vilma Villegas and aunt Mary Jane Villegas in Abu Dhabi. Khushnum Bhandari / The National
  • Peter, a student at Richmindale school in Abu Dhabi, was born in the UAE. Khushnum Bhandari / The National
    Peter, a student at Richmindale school in Abu Dhabi, was born in the UAE. Khushnum Bhandari / The National
  • Peter became an internet sensation in June when his audition for the 16th season of 'America’s Got Talent' was posted on YouTube. Khushnum Bhandari / The National
    Peter became an internet sensation in June when his audition for the 16th season of 'America’s Got Talent' was posted on YouTube. Khushnum Bhandari / The National
  • Peter says he was 'sad and confused' after his elimination but he's happy he gave it his best and he's grateful he got 'a once in a lifetime experience'. Khushnum Bhandari / The National
    Peter says he was 'sad and confused' after his elimination but he's happy he gave it his best and he's grateful he got 'a once in a lifetime experience'. Khushnum Bhandari / The National
  • Peter's aunt Mary Jane Villegas has been travelling to the US with him for his auditions and performances. Khushnum Bhandari / The National
    Peter's aunt Mary Jane Villegas has been travelling to the US with him for his auditions and performances. Khushnum Bhandari / The National
  • Peter's audition on the show. Instagram / peter.rosalita
    Peter's audition on the show. Instagram / peter.rosalita
  • Peter attends the red carpet for 'America's Got Talent' Season 16 Live Shows at Dolby Theatre on August 10, 2021 in Hollywood. Jon Kopaloff / FilmMagic
    Peter attends the red carpet for 'America's Got Talent' Season 16 Live Shows at Dolby Theatre on August 10, 2021 in Hollywood. Jon Kopaloff / FilmMagic
  • After his elimination, Peter said he just went back to his hotel room and played video games. Photo: Mary Jane Villegas
    After his elimination, Peter said he just went back to his hotel room and played video games. Photo: Mary Jane Villegas
  • Peter Rosalita at Universal Studios in Hollywood. Photo: Mary Jane Villegas
    Peter Rosalita at Universal Studios in Hollywood. Photo: Mary Jane Villegas
The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E3.6-litre%2C%20V6%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3Eeight-speed%20auto%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E285hp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E353Nm%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EDh159%2C900%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3Enow%3C%2Fp%3E%0A
FFP EXPLAINED

What is Financial Fair Play?
Introduced in 2011 by Uefa, European football’s governing body, it demands that clubs live within their means. Chiefly, spend within their income and not make substantial losses.

What the rules dictate? 
The second phase of its implementation limits losses to €30 million (Dh136m) over three seasons. Extra expenditure is permitted for investment in sustainable areas (youth academies, stadium development, etc). Money provided by owners is not viewed as income. Revenue from “related parties” to those owners is assessed by Uefa's “financial control body” to be sure it is a fair value, or in line with market prices.

What are the penalties? 
There are a number of punishments, including fines, a loss of prize money or having to reduce squad size for European competition – as happened to PSG in 2014. There is even the threat of a competition ban, which could in theory lead to PSG’s suspension from the Uefa Champions League.

2.0

Director: S Shankar

Producer: Lyca Productions; presented by Dharma Films

Cast: Rajnikanth, Akshay Kumar, Amy Jackson, Sudhanshu Pandey

Rating: 3.5/5 stars

PETER%20PAN%20%26%20WENDY
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EDavid%20Lowery%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Alexander%20Molony%2C%20Ever%20Anderson%2C%20Joshua%20Pickering%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A
MATCH INFO

Red Star Belgrade v Tottenham Hotspur, midnight (Thursday), UAE

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

How to invest in gold

Investors can tap into the gold price by purchasing physical jewellery, coins and even gold bars, but these need to be stored safely and possibly insured.

A cheaper and more straightforward way to benefit from gold price growth is to buy an exchange-traded fund (ETF).

Most advisers suggest sticking to “physical” ETFs. These hold actual gold bullion, bars and coins in a vault on investors’ behalf. Others do not hold gold but use derivatives to track the price instead, adding an extra layer of risk. The two biggest physical gold ETFs are SPDR Gold Trust and iShares Gold Trust.

Another way to invest in gold’s success is to buy gold mining stocks, but Mr Gravier says this brings added risks and can be more volatile. “They have a serious downside potential should the price consolidate.”

Mr Kyprianou says gold and gold miners are two different asset classes. “One is a commodity and the other is a company stock, which means they behave differently.”

Mining companies are a business, susceptible to other market forces, such as worker availability, health and safety, strikes, debt levels, and so on. “These have nothing to do with gold at all. It means that some companies will survive, others won’t.”

By contrast, when gold is mined, it just sits in a vault. “It doesn’t even rust, which means it retains its value,” Mr Kyprianou says.

You may already have exposure to gold miners in your portfolio, say, through an international ETF or actively managed mutual fund.

You could spread this risk with an actively managed fund that invests in a spread of gold miners, with the best known being BlackRock Gold & General. It is up an incredible 55 per cent over the past year, and 240 per cent over five years. As always, past performance is no guide to the future.

%20Ramez%20Gab%20Min%20El%20Akher
%3Cp%3E%3Cstrong%3ECreator%3A%3C%2Fstrong%3E%20Ramez%20Galal%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Ramez%20Galal%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStreaming%20on%3A%20%3C%2Fstrong%3EMBC%20Shahid%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E2.5%2F5%3C%2Fp%3E%0A
MOUNTAINHEAD REVIEW

Starring: Ramy Youssef, Steve Carell, Jason Schwartzman

Director: Jesse Armstrong

Rating: 3.5/5

CONFIRMED%20LINE-UP
%3Cp%3EElena%20Rybakina%20(Kazakhstan)%0D%3Cbr%3EOns%20Jabeur%20(Tunisia)%0D%3Cbr%3EMaria%20Sakkari%20(Greece)%0D%3Cbr%3EBarbora%20Krej%C4%8D%C3%ADkov%C3%A1%20(Czech%20Republic)%0D%3Cbr%3EBeatriz%20Haddad%20Maia%20(Brazil)%0D%3Cbr%3EJe%C4%BCena%20Ostapenko%20(Latvia)%0D%3Cbr%3ELiudmila%20Samsonova%0D%3Cbr%3EDaria%20Kasatkina%E2%80%AF%0D%3Cbr%3EVeronika%20Kudermetova%E2%80%AF%0D%3Cbr%3ECaroline%20Garcia%20(France)%E2%80%AF%0D%3Cbr%3EMagda%20Linette%20(Poland)%E2%80%AF%0D%3Cbr%3ESorana%20C%C3%AErstea%20(Romania)%E2%80%AF%0D%3Cbr%3EAnastasia%20Potapova%E2%80%AF%0D%3Cbr%3EAnhelina%20Kalinina%20(Ukraine)%E2%80%AF%E2%80%AF%0D%3Cbr%3EJasmine%20Paolini%20(Italy)%E2%80%AF%0D%3Cbr%3EEmma%20Navarro%20(USA)%E2%80%AF%0D%3Cbr%3ELesia%20Tsurenko%20(Ukraine)%0D%3Cbr%3ENaomi%20Osaka%20(Japan)%20-%20wildcard%0D%3Cbr%3EEmma%20Raducanu%20(Great%20Britain)%20-%20wildcard%3Cbr%3EAlexandra%20Eala%20(Philippines)%20-%20wildcard%3C%2Fp%3E%0A

The Travel Diaries of Albert Einstein The Far East, Palestine, and Spain, 1922 – 1923
Editor Ze’ev Rosenkranz
​​​​​​​Princeton

'C'mon C'mon'

Director:Mike Mills

Stars:Joaquin Phoenix, Gaby Hoffmann, Woody Norman

Rating: 4/5

Nayanthara: Beyond The Fairy Tale

Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni

Director: Amith Krishnan

Rating: 3.5/5

Most sought after workplace benefits in the UAE
  • Flexible work arrangements
  • Pension support
  • Mental well-being assistance
  • Insurance coverage for optical, dental, alternative medicine, cancer screening
  • Financial well-being incentives 
UAE v Gibraltar

What: International friendly

When: 7pm kick off

Where: Rugby Park, Dubai Sports City

Admission: Free

Online: The match will be broadcast live on Dubai Exiles’ Facebook page

UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)

GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

Kibsons%20Cares
%3Cp%3E%3Cstrong%3ERecycling%3Cbr%3E%3C%2Fstrong%3EAny%20time%20you%20receive%20a%20Kibsons%20order%2C%20you%20can%20return%20your%20cardboard%20box%20to%20the%20drivers.%20They%E2%80%99ll%20be%20happy%20to%20take%20it%20off%20your%20hands%20and%20ensure%20it%20gets%20reused%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EKind%20to%20health%20and%20planet%3C%2Fstrong%3E%3Cbr%3ESolar%20%E2%80%93%2025-50%25%20of%20electricity%20saved%3Cbr%3EWater%20%E2%80%93%2075%25%20of%20water%20reused%3Cbr%3EBiofuel%20%E2%80%93%20Kibsons%20fleet%20to%20get%2020%25%20more%20mileage%20per%20litre%20with%20biofuel%20additives%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ESustainable%20grocery%20shopping%3C%2Fstrong%3E%3Cbr%3ENo%20antibiotics%3Cbr%3ENo%20added%20hormones%3Cbr%3ENo%20GMO%3Cbr%3ENo%20preservatives%3Cbr%3EMSG%20free%3Cbr%3E100%25%20natural%3C%2Fp%3E%0A
Naga
%3Cp%3E%3Cstrong%3EDirector%3A%C2%A0%3C%2Fstrong%3EMeshal%20Al%20Jaser%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%C2%A0%3C%2Fstrong%3EAdwa%20Bader%2C%20Yazeed%20Almajyul%2C%20Khalid%20Bin%20Shaddad%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E4%2F5%3C%2Fp%3E%0A

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.”

FIXTURES

All times UAE ( 4 GMT)

Friday
Saint-Etienne v Montpellier (10.45pm)

Saturday
Monaco v Caen (7pm)
Amiens v Bordeaux (10pm)
Angers v Toulouse (10pm)
Metz v Dijon (10pm)
Nantes v Guingamp (10pm)
Rennes v Lille (10pm)

Sunday
Nice v Strasbourg (5pm)
Troyes v Lyon (7pm)
Marseille v Paris Saint-Germain (11pm)

Company Profile

Company name: Yeepeey

Started: Soft launch in November, 2020

Founders: Sagar Chandiramani, Jatin Sharma and Monish Chandiramani

Based: Dubai

Industry: E-grocery

Initial investment: $150,000

Future plan: Raise $1.5m and enter Saudi Arabia next year

Cricket World Cup League 2

UAE squad

Rahul Chopra (captain), Aayan Afzal Khan, Ali Naseer, Aryansh Sharma, Basil Hameed, Dhruv Parashar, Junaid Siddique, Muhammad Farooq, Muhammad Jawadullah, Muhammad Waseem, Omid Rahman, Rahul Bhatia, Tanish Suri, Vishnu Sukumaran, Vriitya Aravind

Fixtures

Friday, November 1 – Oman v UAE
Sunday, November 3 – UAE v Netherlands
Thursday, November 7 – UAE v Oman
Saturday, November 9 – Netherlands v UAE

COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
MATCH INFO

Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid

When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid

Updated: June 28, 2022, 9:57 AM