Baby boy concentrating on his toes
Baby boy concentrating on his toes
Baby boy concentrating on his toes
Baby boy concentrating on his toes

Counting the cost


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Twenty-five years after its founding by the United Nations, the Intergovernmental Panel on Climate Change has come to the conclusion not only that the phenomenon of global warming is beyond serious scientific doubt, but also that we - human beings - are the dominant cause.
We all knew this, of course. But now, thanks to the efforts of more than 800 scientists from 32 countries, we can say so with certainty.
Curious, then, that in the IPCC's fifth assessment of climate change since 1988, published last Friday, one word is conspicuous by its absence: population.
How times have changed. In 1990, when the IPCC published its first assessment report and there were 5.3 billion people on Earth, the panel's scientists had no qualms about identifying the primary culprit in global warming.
"The predicted population explosion," they reported, "will produce severe impacts on land use and on the demands for energy, fresh water, food and housing." It was "essential that global climate-change strategies take into account the need to deal with the issue of the rate of growth of the world population".
Since then, the population has hit seven billion and is expected to pass nine billion by 2050 - almost twice as many as the IPCC warned that the Earth was struggling to support 25 years ago - and yet the issue of population growth seems to have slipped from the agenda.
So how did population become the elephant in the room?
That was a question posed in 2011 by Sir David Attenborough, the British naturalist, television presenter and patron of the Optimum Population Trust, now known as Population Matters. As the world's population approached seven billion, he pointed out in a speech that the subject had not been mentioned at either of the UN climate-change conferences, in Copenhagen in 2009 or Cancún in 2010.
"Why this strange silence?" he asked. "I meet no one who privately disagrees that population growth is a problem . so why does hardly anyone say so publicly?"
There was, he concluded, a "bizarre taboo around the subject - 'It's not quite nice, not PC, possibly even racist to mention it' . I simply don't understand it. It is all getting too serious for such fastidious niceties".
In 2011, the UN was obliged to revise its earlier estimate that the world's population would peak at 9.1 billion in 2100. That milestone, it said, would now be passed in 2050. By 2100, there would be 10 billion of us.
In a world faced with global warming, increasing water shortages, encroaching desertification and regular food shortages in Africa - the 2011 famine in Somalia alone claimed 250,000 lives - 10 billion seems like an awful lot of people.
So should we panic? Will we run out of space and food, thrusting the world into a bitter fight to the death between the haves and have-nots? Or can we rely on our ingenuity to continue coming up with technological solutions - improved agricultural yields, more efficient use of resources such as oil, electricity and water, and so on?
Two new books that address the issue take dramatically opposing views, demonstrating that, despite all our evolved cleverness, the realities of planetary demographics in a globally interconnected world have become so complex - and so bound up in political ideology - that no two experts seem able to agree on the most fundamental aspect.
"Stop worrying," writes Danny Dorling, until recently professor of human geography at the University of Sheffield, in Population 10 Billion. His book suggests that "the actual number of people on the planet is, to an important extent, incidental to the impact humans have on both the environment and each other".
Looking around at a world still defined most starkly by its inequalities, the optimistic Dorling sees "many signs that we may well collectively be choosing more often to live sustainably, not least in how we are already controlling our numbers".
There is, he writes, "nothing too bizarre when it comes to fears over future human population numbers", and he mocks groups such as the Voluntary Human Extinction Movement, which advocates a moratorium on breeding to "allow Earth's biosphere to return to good health".
Instead, he bangs the drum for "the boring old practical possibilists", bemoaning that "there are no T-shirts . with the slogan 'There probably is enough food for all', or 'Worry less, humans are cooperative'."
The antidote to Dorling's cheerful celebration of the innate goodness of human nature is supplied by Stephen Emmott, head of computational science at Microsoft Research in Cambridge, England, whose polemic 10 Billion was launched at London's Science Museum on July 18.
This is a man who plainly sees the elephant. In his view, "our cleverness, our inventiveness and our activities are now the drivers of every global problem we face - and every one of these problems is accelerating as we continue to grow towards a global population of 10 billion".
We are, says Emmott, facing "an unprecedented planetary emergency . we urgently need to do - and I mean actually do - something to avert global catastrophe. But I don't think we will."
To make his point, he closes his book - a short, sharp, shocking assessment of the state we are in - with the following disturbing anecdote.
"I asked one of the most rational, brightest scientists I know - a young scientist working in this area in my lab - if there was just one thing he had to do about the situation we face, what would it be. His reply? 'Teach my son how to use a gun.'"
So who's right? What should we do? Relax and invest in GM food futures - or arm our children and pack them off to the hills with a lifetime's supply of canned tuna?
===
Can there really be no limit to the Earth's capacity to support its most troublesome and destructive species? After all, even allowing for yet-to-be-invented technological wizardry, surely a square metre of soil can yield only a finite amount of calories, sufficient to sustain only a finite number of human beings?
Not an issue, says Dorling, because all the demographic evidence suggests that "human population growth is not just slowing, but is set to stabilise within the current lifetimes of a majority of people on the planet".
But how solid is that evidence?
There are multiple problems when it comes to accurately assessing the current population of the world, let alone predicting what it will be at any point in the future.
On the one hand, says Dorling, speaking by telephone from Oxford, where he has just taken up the post of professor of human geography at the university's Centre for the Environment, "you've got to realise how better at it we are now than we ever were. Around 1950 we really had no idea what the population of the planet was".
On the other hand, he concedes, "very tiny changes in [human] behaviour, like compound interest on money, can have a big impact in a hundred years' time".
All this explains why the Population Division of the UN Department of Economic and Social Affairs hedges its bets and offers three scenarios for the future population of the Earth - the low, medium and high variants - and why its latest predictions, issued last year, venture no further into the future than 2100.
Depending on which of these three scenarios one favours, the population in 2050 could be anything between 8.34 billion and 10.86 billion.
Of course, 2050 is just around the corner and relatively easy to predict. Follow the UN's scenarios to 2100, however, and its numbers range from 6.75 billion to 16.64 billion - a spectrum so wide as to be almost meaningless.
However, these figures conceal crucial possibilities - perhaps the most crucial of which, as Dorling maintains, is that while the absolute number of human beings is still increasing, it is doing so at a rate that is slowing down.
This is what demographers call the total fertility rate - the averaged-out number of children born to each woman. The replacement rate - the number of births required to keep the population stable, allowing for some inevitable child deaths - ranges from about 2.1 babies per woman in the developed world to 3.3 in countries where infant mortality is higher.
Current estimates say there are 111 countries where the fertility rate is 2.1 or above, with the highest rates found in Africa, notably Niger (7.03), Mali (6.25) and Somalia (6.17).
It is easy, of course, to point to the escalating populations in Africa as a cause for concern. But in another 113 nations, mainly in the developed world, the fertility rate is so low that numbers are dwindling. The total fertility rate in Europe, for instance, is just 1.59 babies per woman.
For the world as a whole, the estimated number of total births per woman is 2.45 - a growth rate of 1.095 per cent. That doesn't sound like much, until one applies the maths of compound interest. If this growth rate remained stable, within a century today's population of seven billion would have ballooned to over 20 billion.
But, say demographers, this almost certainly won't happen, because the global fertility rate has been steadily dropping, from a high of 5.02 in the mid-1960s, to today's 2.45. It took us 13 years to add our most recent billion, opposed to just 12 years for the one before that. If the total fertility rate continues to drop as it is, each subsequent billion will come at longer and longer intervals, until the world's population hits about 10 billion and then starts to shrink, in about 2060.
In fact, predicted the International Institute for Applied Systems Analysis in 2008, if the global fertility rate dropped to 1.0 - and it certainly seems to be heading that way in Europe and elsewhere - by 2100 we could be back to just 4.5 billion. No problem, then? Not quite.
For a start, why is the population rate falling? We are not exactly "choosing" to control our numbers, as Dorling asserts. As he concedes elsewhere in his book, this "choice" is being made for us by circumstances - as more and more people migrate from poor but self-sufficient rural environments, where birth rates are high, to consumption-driven cities, where out of necessity fewer children are born.
The revolution in the empowerment of women around the world is also playing a significant part in our declining numbers - education invariably leads to delayed breeding and fewer children, says Dorling.
The UAE provides a good example of how prosperity, education and the empowerment of women lowers fertility rates. Large families are traditional in the Gulf states, and UN figures show that between 1950 and about 1975 women in the UAE had on average more than six children each.
However, the fertility rate among Emiratis began to decline as the UAE became more prosperous, first dropping below that required for replacement between 2005 and 2010, when the average number of births per woman was 1.97. According to UN estimates, that figure is predicted to decline slowly to a low of 1.6 in about 2030 and remain well below the replacement rate for the foreseeable future - as far as 2100.
But with prosperity comes greater consumption - so a smaller, better-off global population could be far more damaging to the planet than a larger, more impoverished one.
Sitting back and waiting for economic evolution to slow birth rates around the world sounds like a good idea, says Simon Ross, the chief executive of Population Matters, but in terms of the impact on planetary resources, it really isn't.
"If you wait until the population of Nigeria, for example, reaches the population of the United States and then becomes rich, that puts an insupportable burden on resources," he says. "It's much better to try to drop the birth rate as soon as you can, rather than wait for everyone to consume a lot."
Nevertheless, Dorling insists it is better to work on changing the behaviour of the affluent than that of the poor: "One person flying to New York and back, on a whim to go on a shopping trip that doesn't even make them happy, that's the kind of thing that's problematic," he says. "You can work out how many dozen people have to be born in the Yemen to use up in their whole lifetime the equivalent of one shopping trip across the Atlantic to New York."
===
But what's the prognosis for the planet and its limited resources if we turn African or Yemeni subsistence farmers into globe-trotting super-consumers? "Food demand," writes Emmott, "is accelerating at a far faster rate than population growth . as GDP increases, calorie consumption also increases. As we get richer (or suffer less poverty), we consume more food."
Any way you look at it, a couple who have four children double their impact on the world's resources (the argument goes that parents with only two children preserve the status quo on their death). And when those four children are born to wealthy parents, their impact is much worse than if they had been born into a poor agricultural community. But who are we, having pulled up the ladder behind us, to suggest that the rest of the world should stick to an ecologically more sustainable lifestyle?
This, says Dr Stuart Basten, a research fellow at Oxford University's department of social policy and intervention, is where the population debate finds itself tiptoeing around sensibilities rooted in the colonial attitudes of 19th-century Europe.
He agrees with Dorling's point that "the raw number of people is much less important than how they are going to live their lives", but there is, he says, clearly a difficult relationship between economic development and environmental protection in the developing world, which liberal westerners find hard to confront.
"It seems to come down to the view, 'How dare we?'," admits Basten. "We've done a pretty good job of screwing up the environment for the last 250 years, to get the things that we want, and it becomes quite difficult to start lecturing people about the loss of species such as the slow loris and gum trees."
===
All we know for certain right now is that all previous predictions about global population - both its possible size and the maximum number the planet can sustain - have proved incorrect. But regardless of our future numbers, says Emmott, the current reality is that "all of the science points to the inescapable fact that we are in serious trouble. Right now, we are heading into completely uncharted territory as our population continues to grow towards 10 billion . the one thing that is predictable is that things are going to get worse." It's a familiar refrain, although that doesn't necessarily make it wrong.
In 1968, Paul Ehrlich, a professor of population studies at Stanford University, wrote The Population Bomb, a bestselling book later credited with having fired one of the opening salvos in the battle to preserve the environment, which predicted imminent starvation and called for immediate action to limit the growth of population.
In 2009, in an article in the Journal of Sustainable Development, Ehrlich revisited a book he admitted had been "both praised and vilified", but insisted its basic message was "even more important today than it was 40 years ago".
Much of the negative response to the book had been a reaction to that main message, "that it can be a very bad thing to have more than a certain number of people alive at the same time, that Earth has a finite carrying capacity, and that the future of civilisation was in grave doubt".
For the politically far left, wrote Ehrlich, the suggestion that population growth should be limited was immoral; they saw the basic problem "not as overpopulation but as maladministration of resources and worried that the far right would use overpopulation as an excuse to promote births of only the 'right kind'".
The far right, meanwhile, "wed to the idea that free markets could solve any problem, didn't like the idea that population size was a legitimate area for government intervention". Neither camp - nor those opposed to contraception and sex education - "seemed to understand that the fundamental issue was whether an overpopulated society . could avoid collapse". For him, writing in 1998, the contemporary population of 5.5 billion had already "clearly exceeded the capacity of the Earth to sustain it".
Later, Ehrlich redirected the debate away from the heated subject of maximum possible numbers to a more finely nuanced consideration: the optimum population of the Earth, defined by "the biophysical carrying capabilities of the planet", and which could be viable with as few as just 500 people.
This, clearly, was a utopian vision (or dystopian, depending on one's viewpoint), but it came packaged with the observation that "many more human beings could exist if a sustainable population were maintained for thousands to millions of years than if the present population overshoot were further amplified and much of Earth's capacity to support future generations were quickly consumed".
This is an indisputable truth, overlooked in all the debates that focus solely, and selfishly, on the rights and needs only of the human beings currently walking the earth. It should, perhaps, play a greater part in our thinking when we talk grandly of the world we would like our children to inherit.
Jonathan Gornall is a regular contributor to The National.

Monster

Directed by: Anthony Mandler

Starring: Kelvin Harrison Jr., John David Washington 

3/5

 

'C'mon C'mon'

Director:Mike Mills

Stars:Joaquin Phoenix, Gaby Hoffmann, Woody Norman

Rating: 4/5

MATCH INFO

Manchester United 1 (Rashford 36')

Liverpool 1 (Lallana 84')

Man of the match: Marcus Rashford (Manchester United)

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

Vikram%20Vedha
%3Cp%3E%3Cstrong%3EDirectors%3A%3C%2Fstrong%3E%20Gayatri%2C%20Pushkar%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Hrithik%20Roshan%2C%20Saif%20Ali%20Khan%2C%20Radhika%20Apte%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%C2%A0%3C%2Fstrong%3E3.5%2F5%3C%2Fp%3E%0A
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%3Cp%3EThere%20are%20regular%20flights%20from%20Dubai%20to%20Kathmandu.%20Fares%20with%20Air%20Arabia%20and%20flydubai%20start%20at%20Dh1%2C265.%3Cbr%3EIn%20Kathmandu%2C%20rooms%20at%20the%20Oasis%20Kathmandu%20Hotel%20start%20at%20Dh195%20and%20Dh120%20at%20Hotel%20Ganesh%20Himal.%3Cbr%3EThird%20Rock%20Adventures%20offers%20professionally%20run%20group%20and%20individual%20treks%20and%20tours%20using%20highly%20experienced%20guides%20throughout%20Nepal%2C%20Bhutan%20and%20other%20parts%20of%20the%20Himalayas.%3C%2Fp%3E%0A
What is Reform?

Reform is a right-wing, populist party led by Nigel Farage, a former MEP who won a seat in the House of Commons last year at his eighth attempt and a prominent figure in the campaign for the UK to leave the European Union.

It was founded in 2018 and originally called the Brexit Party.

Many of its members previously belonged to UKIP or the mainstream Conservatives.

After Brexit took place, the party focused on the reformation of British democracy.

Former Tory deputy chairman Lee Anderson became its first MP after defecting in March 2024.

The party gained support from Elon Musk, and had hoped the tech billionaire would make a £100m donation. However, Mr Musk changed his mind and called for Mr Farage to step down as leader in a row involving the US tycoon's support for far-right figurehead Tommy Robinson who is in prison for contempt of court.

57%20Seconds
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Rusty%20Cundieff%0D%3Cbr%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3EJosh%20Hutcherson%2C%20Morgan%20Freeman%2C%20Greg%20Germann%2C%20Lovie%20Simone%0D%3Cbr%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E2%2F5%0D%3Cbr%3E%0D%3Cbr%3E%3C%2Fp%3E%0A

Seemar’s top six for the Dubai World Cup Carnival:

1. Reynaldothewizard
2. North America
3. Raven’s Corner
4. Hawkesbury
5. New Maharajah
6. Secret Ambition

SERIES INFO

Afghanistan v Zimbabwe, Abu Dhabi Sunshine Series

All matches at the Zayed Cricket Stadium, Abu Dhabi

Test series

1st Test: Zimbabwe beat Afghanistan by 10 wickets
2nd Test: Wednesday, 10 March – Sunday, 14 March

Play starts at 9.30am

T20 series

1st T20I: Wednesday, 17 March
2nd T20I: Friday, 19 March
3rd T20I: Saturday, 20 March

TV
Supporters in the UAE can watch the matches on the Rabbithole channel on YouTube

BACK%20TO%20ALEXANDRIA
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3ETamer%20Ruggli%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3ENadine%20Labaki%2C%20Fanny%20Ardant%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E3.5%2F5%3C%2Fp%3E%0A
MANDOOB
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Results

Stage seven

1. Tadej Pogacar (SLO) UAE Team Emirates, in 3:20:24

2. Adam Yates (GBR) Ineos Grenadiers, at 1s

3. Pello Bilbao (ESP) Bahrain-Victorious, at 5s

General Classification

1. Tadej Pogacar (SLO) UAE Team Emirates, in 25:38:16

2. Adam Yates (GBR) Ineos Grenadiers, at 22s

3. Pello Bilbao (ESP) Bahrain-Victorious, at 48s

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

COMPANY%20PROFILE
%3Cp%3ECompany%20name%3A%20Znap%3C%2Fp%3E%0A%3Cp%3EStarted%3A%202017%3C%2Fp%3E%0A%3Cp%3EFounder%3A%20Uday%20Rathod%3C%2Fp%3E%0A%3Cp%3EBased%3A%20Dubai%2C%20UAE%3C%2Fp%3E%0A%3Cp%3EIndustry%3A%20FinTech%3C%2Fp%3E%0A%3Cp%3EFunding%20size%3A%20%241m%2B%3C%2Fp%3E%0A%3Cp%3EInvestors%3A%20Family%2C%20friends%3C%2Fp%3E%0A
List of UAE medal winners

Gold
Faisal Al Ketbi (Open weight and 94kg)
Talib Al Kirbi (69kg)
Omar Al Fadhli (56kg)

Silver
Zayed Al Kaabi (94kg)
Khalfan Belhol (85kg)
Zayed Al Mansoori (62kg)
Mouza Al Shamsi (49kg women)

Bronze
Yahia Mansour Al Hammadi (Open and 94kg)
Saood Al Hammadi (77kg)
Said Al Mazroui (62kg)
Obaid Al Nuaimi (56kg)
Bashayer Al Matrooshi (62kg women)
Reem Abdulkareem (45kg women)

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UAE currency: the story behind the money in your pockets
ETFs explained

Exhchange traded funds are bought and sold like shares, but operate as index-tracking funds, passively following their chosen indices, such as the S&P 500, FTSE 100 and the FTSE All World, plus a vast range of smaller exchanges and commodities, such as gold, silver, copper sugar, coffee and oil.

ETFs have zero upfront fees and annual charges as low as 0.07 per cent a year, which means you get to keep more of your returns, as actively managed funds can charge as much as 1.5 per cent a year.

There are thousands to choose from, with the five biggest providers BlackRock’s iShares range, Vanguard, State Street Global Advisors SPDR ETFs, Deutsche Bank AWM X-trackers and Invesco PowerShares.

Match info

Costa Rica 0

Serbia 1
Kolarov (56')

COMPANY%20PROFILE%20
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Haltia.ai%0D%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202023%0D%3Cbr%3E%3Cstrong%3ECo-founders%3A%3C%2Fstrong%3E%20Arto%20Bendiken%20and%20Talal%20Thabet%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%2C%20UAE%0D%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20AI%0D%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%2041%0D%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20About%20%241.7%20million%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Self%2C%20family%20and%20friends%26nbsp%3B%3C%2Fp%3E%0A
The specs

Engine: 2.0-litre 4-cylinder turbo

Power: 240hp at 5,500rpm

Torque: 390Nm at 3,000rpm

Transmission: eight-speed auto

Price: from Dh122,745

On sale: now

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

WHAT%20IS%20'JUICE%20JACKING'%3F
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Trump v Khan

2016: Feud begins after Khan criticised Trump’s proposed Muslim travel ban to US

2017: Trump criticises Khan’s ‘no reason to be alarmed’ response to London Bridge terror attacks

2019: Trump calls Khan a “stone cold loser” before first state visit

2019: Trump tweets about “Khan’s Londonistan”, calling him “a national disgrace”

2022:  Khan’s office attributes rise in Islamophobic abuse against the major to hostility stoked during Trump’s presidency

July 2025 During a golfing trip to Scotland, Trump calls Khan “a nasty person”

Sept 2025 Trump blames Khan for London’s “stabbings and the dirt and the filth”.

Dec 2025 Trump suggests migrants got Khan elected, calls him a “horrible, vicious, disgusting mayor”

UAE currency: the story behind the money in your pockets
Auron Mein Kahan Dum Tha

Starring: Ajay Devgn, Tabu, Shantanu Maheshwari, Jimmy Shergill, Saiee Manjrekar

Director: Neeraj Pandey

Rating: 2.5/5

UAE currency: the story behind the money in your pockets

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: Audi e-tron

Price, base: From Dh325,000 (estimate)

Engine: Twin electric motors and 95kWh battery pack

Transmission: Single-speed auto

Power: 408hp

Torque: 664Nm

Range: 400 kilometres

Race 3

Produced: Salman Khan Films and Tips Films
Director: Remo D’Souza
Cast: Salman Khan, Anil Kapoor, Jacqueline Fernandez, Bobby Deol, Daisy Shah, Saqib Salem
Rating: 2.5 stars

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

The Vile

Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah

Director: Majid Al Ansari

Rating: 4/5

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

Thank You for Banking with Us

Director: Laila Abbas

Starring: Yasmine Al Massri, Clara Khoury, Kamel El Basha, Ashraf Barhoum

Rating: 4/5

Tonight's Chat on The National

Tonight's Chat is a series of online conversations on The National. The series features a diverse range of celebrities, politicians and business leaders from around the Arab world.

Tonight’s Chat host Ricardo Karam is a renowned author and broadcaster who has previously interviewed Bill Gates, Carlos Ghosn, Andre Agassi and the late Zaha Hadid, among others.

Intellectually curious and thought-provoking, Tonight’s Chat moves the conversation forward.

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French business

France has organised a delegation of leading businesses to travel to Syria. The group was led by French shipping giant CMA CGM, which struck a 30-year contract in May with the Syrian government to develop and run Latakia port. Also present were water and waste management company Suez, defence multinational Thales, and Ellipse Group, which is currently looking into rehabilitating Syrian hospitals.

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Racecard
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MATCH INFO

Championship play-offs, second legs:

Aston Villa 0
Middlesbrough 0

(Aston Villa advance 1-0 on aggregate)

Fulham 2
Sessegnon (47'), Odoi (66')

Derby County 0

(Fulham advance 2-1 on aggregate)

Final

Saturday, May 26, Wembley. Kick off 8pm (UAE) 

Desert Warrior

Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

A MINECRAFT MOVIE

Director: Jared Hess

Starring: Jack Black, Jennifer Coolidge, Jason Momoa

Rating: 3/5

TOURNAMENT INFO

Women’s World Twenty20 Qualifier

Jul 3- 14, in the Netherlands
The top two teams will qualify to play at the World T20 in the West Indies in November

UAE squad
Humaira Tasneem (captain), Chamani Seneviratne, Subha Srinivasan, Neha Sharma, Kavisha Kumari, Judit Cleetus, Chaya Mughal, Roopa Nagraj, Heena Hotchandani, Namita D’Souza, Ishani Senevirathne, Esha Oza, Nisha Ali, Udeni Kuruppuarachchi

UAE currency: the story behind the money in your pockets
COMPANY PROFILE

Company name: SimpliFi

Started: August 2021

Founder: Ali Sattar

Based: UAE

Industry: Finance, technology

Investors: 4DX, Rally Cap, Raed, Global Founders, Sukna and individuals

'The Sky is Everywhere'

Director:Josephine Decker

Stars:Grace Kaufman, Pico Alexander, Jacques Colimon

Rating:2/5