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The Formula One bandwagon is passing, but there's still one last show to send the thing off in style. And it would be hard to think of a more fitting choice than Aerosmith, the platonic ideal of rock bands, a group so iconic one suspects they have intellectual property in the very concepts of cheek-bones and leopard-print. Steven Tyler was bingeing himself skinny back when the Kings of Leon were the twinkle in a twinkle's eye. His eternal partner in crime, Joe Perry, has strutted about like a thoroughbred in leather trousers for more than 40 years now and gives no sign of going out to pasture just yet.

From their invention of the rock-rap crossover to their establishment of rehab as a crucial staging post in the hall of fame, Aerosmith are one for the ages. More to the point, they're your only choice for racing events. Perry, appropriately enough, given his looks, breeds race-horses. The band's rhythm guitarist, Brad Whitford, races cars himself: last month he took part in the Volkswagen Jetta TDI Cup. And Tyler got himself into trouble a few years ago when he was engaged to sing the Star-Spangled Banner at the Indy 500. He replaced the line "home of the brave" with "home of the Indianapolis 500," which, although it doesn't scan and isn't very patriotic, does strike the authentic fanboy note.

Perry recently dashed off a solo album, Have Guitar, Will Travel, and has been grumbling about a certain unnamed member of Aerosmith (cough cough Tyler) who has been "taking [the fans] for granted". Tyler, for the record, caused a chunk of the band's world tour to be cancelled when he fell off a stage and broke his shoulder, so the question of who had unreasonable expectations of whom is a hard one to call.

The end of this week sees Dubai's three-day Sound City festival, a sort of best of the north-west roadshow, which includes a couple of bands whose final chapters I confess I thought had already been written a long time ago. It is, of course, nice to note that the Human League, the Happy Mondays and Echo and Bunnymen are all still in business, and Super Furry Animals remain impossible to dislike.

Yet the continued existence of Ocean Colour Scene only goes to prove that, like the polyps clustered around sulphurous marine vents which their name calls to mind, life goes on at depths of obscurity impossible to fathom. Then again perhaps they're happier this way. Given the choice between the press they used to get and exile to the moon, I know which I'd pick. And then there are those baggy also-rans The Farm. Their last hit (barring football-themed remixes of All Together Now) was 19 years ago, and in a fortnight which saw the death of Flowered Up's Liam Maher, it comes as a pleasant surprise to learn that they're still loping about the place. Personally, I'm overwhelmed by nostalgia at the mere fact that a jobbing arts journalist might have cause to type the pre-1992 rock-writer cliché "baggy also-rans" this far into the 21st century. The real madeleine moment will come, however, if someone thinks to utter the immortal phrase: "There's always been a dance element to our music." It'll happen at the Irish Village if it happens anywhere.

Finally, the First Group Theatre Company continues in its mission to import the West End of London, hit by hit, to the Madinat theatre in order of length of service. Last week it was The Woman in Black, Britain's second-longest-running play after The Mousetrap. This week it's The Complete Works of William Shakespeare (Abridged), a clownish riff on the bits of the Bard that everyone remembers, which is apparently London's longest-running stage comedy.

There's a Darwinian logic to this, I suppose. The last man standing is bound to have something going for him. It was true for Aerosmith, in as much as they were standing. If Shakespeare goes down well, we look forward to productions of Les Misérables and Oh! Calcutta.

Six things you need to know about UAE Women’s Special Olympics football team

Several girls started playing football at age four

They describe sport as their passion

The girls don’t dwell on their condition

They just say they may need to work a little harder than others

When not in training, they play football with their brothers and sisters

The girls want to inspire others to join the UAE Special Olympics teams

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The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part one: how cars came to the UAE

 

Gulf Under 19s final

Dubai College A 50-12 Dubai College B

Pox that threatens the Middle East's native species

Camelpox

Caused by a virus related to the one that causes human smallpox, camelpox typically causes fever, swelling of lymph nodes and skin lesions in camels aged over three, but the animal usually recovers after a month or so. Younger animals may develop a more acute form that causes internal lesions and diarrhoea, and is often fatal, especially when secondary infections result. It is found across the Middle East as well as in parts of Asia, Africa, Russia and India.

Falconpox

Falconpox can cause a variety of types of lesions, which can affect, for example, the eyelids, feet and the areas above and below the beak. It is a problem among captive falcons and is one of many types of avian pox or avipox diseases that together affect dozens of bird species across the world. Among the other forms are pigeonpox, turkeypox, starlingpox and canarypox. Avipox viruses are spread by mosquitoes and direct bird-to-bird contact.

Houbarapox

Houbarapox is, like falconpox, one of the many forms of avipox diseases. It exists in various forms, with a type that causes skin lesions being least likely to result in death. Other forms cause more severe lesions, including internal lesions, and are more likely to kill the bird, often because secondary infections develop. This summer the CVRL reported an outbreak of pox in houbaras after rains in spring led to an increase in mosquito numbers.

The years Ramadan fell in May

1987

1954

1921

1888

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 President's Cake

Director: Hasan Hadi

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

Rating: 4/5

The Bio

Hometown: Bogota, Colombia
Favourite place to relax in UAE: the desert around Al Mleiha in Sharjah or the eastern mangroves in Abu Dhabi
The one book everyone should read: 100 Years of Solitude by Gabriel Garcia Marquez. It will make your mind fly
Favourite documentary: Chasing Coral by Jeff Orlowski. It's a good reality check about one of the most valued ecosystems for humanity

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 
Tamkeen's offering
  • Option 1: 70% in year 1, 50% in year 2, 30% in year 3
  • Option 2: 50% across three years
  • Option 3: 30% across five years 

Results:

First Test: New Zealand 30 British & Irish Lions 15

Second Test: New Zealand 21 British & Irish Lions 24

Third Test: New Zealand 15 British & Irish Lions 15

How to become a Boglehead

Bogleheads follow simple investing philosophies to build their wealth and live better lives. Just follow these steps.

•   Spend less than you earn and save the rest. You can do this by earning more, or being frugal. Better still, do both.

•   Invest early, invest often. It takes time to grow your wealth on the stock market. The sooner you begin, the better.

•   Choose the right level of risk. Don't gamble by investing in get-rich-quick schemes or high-risk plays. Don't play it too safe, either, by leaving long-term savings in cash.

•   Diversify. Do not keep all your eggs in one basket. Spread your money between different companies, sectors, markets and asset classes such as bonds and property.

•   Keep charges low. The biggest drag on investment performance is all the charges you pay to advisers and active fund managers.

•   Keep it simple. Complexity is your enemy. You can build a balanced, diversified portfolio with just a handful of ETFs.

•   Forget timing the market. Nobody knows where share prices will go next, so don't try to second-guess them.

•   Stick with it. Do not sell up in a market crash. Use the opportunity to invest more at the lower price.

List of alleged parties

 

May 12, 2020: PM and his wife Carrie attend 'work meeting' with at least 17 staff 

May 20, 2020: They attend 'bring your own booze party'

Nov 27, 2020: PM gives speech at leaving party for his staff 

Dec 10, 2020: Staff party held by then-education secretary Gavin Williamson 

Dec 13, 2020: PM and his wife throw a party

Dec 14, 2020: London mayoral candidate Shaun Bailey holds staff event at Conservative Party headquarters 

Dec 15, 2020: PM takes part in a staff quiz 

Dec 18, 2020: Downing Street Christmas party 

COMPANY PROFILE

Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed