The Ortega MK. 1B is a two-person, electrical submersible. Courtesy: Ortega Submersibles
The Ortega MK. 1B is a two-person, electrical submersible. Courtesy: Ortega Submersibles
The Ortega MK. 1B is a two-person, electrical submersible. Courtesy: Ortega Submersibles
The Ortega MK. 1B is a two-person, electrical submersible. Courtesy: Ortega Submersibles

Decoder: The Ortega MK. 1B submersible

The starting price for this submersible is Dh918,000. Here’s what makes it the coolest seafaring vessel around.

Selina Denman
Selina Denman

November 05, 2015

  • English
  • Arabic

The Ortega MK. 1B is a two-person, electrical submersible. It is capable of speedy long-range travel, either on or under water. It comes fully equipped with a trim tank, on-board breathing apparatus and an on-board HUD, which supplies important navigational data. Vessels can also be equipped with integrated 3-D sonar, magnetometers and underwater A-GPS.

Measuring 5.35 metres, with 300 litres of cargo space, the Ortega MK. 1B is capable of speeds of 8 knots, and can go to depths of up to 40 metres.

It is powered by bulletproof lithium phosphate batteries. And for those concerned with stealth, the vessels feature ultra-silent motors and special noise-absorbing materials. The design is inspired by the Sleeping Beauty submersible canoe, which dates back to the Second World War.

Ortega Submersibles was launched two years ago in Twente, the Netherlands, by Filip Jonker and Daan Pol, who have so far have supplied filmmakers, research institutions, special forces, and offshore and surveying companies with their sleek creations.

The company will be showcasing its wares at Big Boys Toys 2015, which is taking place from November 18 to 21 at the Abu Dhabi National Exhibition Centre. The event will present high-end products by about 200 exhibitors from more than 17 countries. Products will fall into 10 show categories, including drive, lifestyle, marine, aviation, digital, wellness, adventure, off-road, ride and fashion. More than 40,000 visitors are expected to attend. General admission is Dh50, but those wanting to enjoy the show in style can avail themselves of premium Club Royale tickets, where Dh5,000 will get you complimentary daily entry, vouchers for every feature at the show, several bespoke VIP experiences, including test-driving three supercars, and entry to the exclusive Club Royale corporate hospitality chalet.

sdenman@thenational.ae

WOMAN AND CHILD

Director: Saeed Roustaee

Starring: Parinaz Izadyar, Payman Maadi

Rating: 4/5

Specs

Engine: 51.5kW electric motor

Range: 400km

Power: 134bhp

Torque: 175Nm

Price: From Dh98,800

Available: Now

SCORES IN BRIEF

Lahore Qalandars 186 for 4 in 19.4 overs
(Sohail 100,Phil Salt 37 not out, Bilal Irshad 30, Josh Poysden 2-26)
bt Yorkshire Vikings 184 for 5 in 20 overs
(Jonathan Tattersall 36, Harry Brook 37, Gary Ballance 33, Adam Lyth 32, Shaheen Afridi 2-36).

Fight card

Preliminaries:

Nouredine Samir (UAE) v Sheroz Kholmirzav (UZB); Lucas Porst (SWE) v Ellis Barboza (GBR); Mouhmad Amine Alharar (MAR) v Mohammed Mardi (UAE); Ibrahim Bilal (UAE) v Spyro Besiri (GRE); Aslamjan Ortikov (UZB) v Joshua Ridgwell (GBR)

Main card:

Carlos Prates (BRA) v Dmitry Valent (BLR); Bobirjon Tagiev (UZB) v Valentin Thibaut (FRA); Arthur Meyer (FRA) v Hicham Moujtahid (BEL); Ines Es Salehy (BEL) v Myriame Djedidi (FRA); Craig Coakley (IRE) v Deniz Demirkapu (TUR); Artem Avanesov (ARM) v Badreddine Attif (MAR); Abdulvosid Buranov (RUS) v Akram Hamidi (FRA)

Title card:

Intercontinental Lightweight: Ilyass Habibali (UAE) v Angel Marquez (ESP)

Intercontinental Middleweight: Amine El Moatassime (UAE) v Francesco Iadanza (ITA)

Asian Featherweight: Zakaria El Jamari (UAE) v Phillip Delarmino (PHI)

The specs

Engine: 4.0-litre, six-cylinder

Transmission: six-speed manual

Power: 395bhp

Torque: 420Nm

Price: from Dh321,200

On sale: now

RESULTS

6.30pm: Maiden (TB) Dh 82,500 (Dirt) 1.600m
Winner: Miller’s House, Richard Mullen (jockey), Satish Seemar (trainer).

7.05pm: Maiden (TB) Dh 82,500 (D) 2,000m
Winner: Kanood, Adrie de Vries, Fawzi Nass.

7.50pm: Handicap (TB) Dh 82,500 (D) 1,600m
Winner: Gervais, Sandro Paiva, Ali Rashid Al Raihe.

8.15pm: The Garhoud Sprint Listed (TB) Dh 132,500 (D) 1,200m
Winner: Important Mission, Royston Ffrench, Salem bin Ghadayer.

8.50pm: The Entisar Listed (TB) Dh 132,500 (D) 2,000m
Winner: Firnas, Xavier Ziani, Salem bin Ghadayer.

9.25pm: Conditions (TB) Dh 120,000 (D) 1,400m
Winner: Zhou Storm, Connor Beasley, Ali Rashid Al Raihe.

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.”

Asia Cup 2018 final

Who: India v Bangladesh

When: Friday, 3.30pm, Dubai International Stadium

Watch: Live on OSN Cricket HD

Tomorrow 2021
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Occupation: Specialised chief medical laboratory technologist

Age: 78

Favourite destination: Always Al Ain “Dar Al Zain”

Hobbies: his work  - “ the thing which I am most passionate for and which occupied all my time in the morning and evening from 1963 to 2019”

Other hobbies: football

Favorite football club: Al Ain Sports Club

 

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