5 things to do today: Register to take part in a workshop and engage in art at The Beach

Register today to take part in the workshop The Art of Islamic Pattern Design led by the UK-based tutors Richard Henry and Adam Williamson. Using the traditional tools of a compass and straight edge, learn how to recreate the classic Islamic designs of beauty and subtle complexities. The final day will involve a practical applied session. Registration ends today. Runs November 8 to 13, 9.30am to noon or 6pm to 8.30pm, National Theatre, Abu Dhabi, 050 612 5681, www.baytalqindeel.com

Engage in art at The Beach, where two installations by up-and-coming Emirati artists are displayed in partnership with Dubai Design Week, which ended yesterday, but the art remains. Yaroof, designed by Aljoud Lootah is inspired by the process of traditional Yaroof fishing and is on the sand across from the north lawn. Earth Hives by Latifa Saeed and Talin Hazbar is inspired by terracotta, and explores the artisanal craft in the region and is located in the Piazza. The Beach, JBR, Dubai Marina, 800 637227, www.thebeach.ae

Reserve your spot to attend today's cooking session and book signing with the chef Karim Haidar, who will share insight on the richness and flavours of the cuisine of the Arab world. His book Saveurs Libanaises features classic recipes that have been reinvented. The event will be held in French. 4pm to 6pm, Vendome Paris, Alliance Française, Oud Metha, Dubai, reservations at 04 357 3603, info@culturecodubai.com

Enter the Young Animators Award, a platform for filmmakers ages 10 to 17, for a chance to take part in a stop-motion animation workshop during Animate Dubai. Submit a 60-second video that answers the question "Why do you want to take part in the Young Animators Award programme?" Deadline is November 10 at www.diff.ae; find details at www.dubaifilmfest.com

Book your session with the hairstylist to the stars Georges El Mendelek, who is visiting Dubai and is said to be one of the favourite stylists of the Arab singer Elissa.  Wednesday to Saturday, 10am to 7pm, Pastels Salon Ritz Carlton, Dubai, 04 399 5016, www.pastels-salon.com

listings@thenational.ae

The specs

Engine: 5.2-litre twin-turbo V12

Transmission: eight-speed automatic

Power: 715bhp

Torque: 900Nm

Price: Dh1,289,376

On sale: now

How has net migration to UK changed?

The figure was broadly flat immediately before the Covid-19 pandemic, standing at 216,000 in the year to June 2018 and 224,000 in the year to June 2019.

It then dropped to an estimated 111,000 in the year to June 2020 when restrictions introduced during the pandemic limited travel and movement.

The total rose to 254,000 in the year to June 2021, followed by steep jumps to 634,000 in the year to June 2022 and 906,000 in the year to June 2023.

The latest available figure of 728,000 for the 12 months to June 2024 suggests levels are starting to decrease.

COMPANY PROFILE

Name: Kumulus Water

Started: 2021

Founders: Iheb Triki and Mohamed Ali Abid

Based: Tunisia

Sector: Water technology

Number of staff: 22

Investment raised: $4 million

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.”