Breast-cancer awareness nail art. Courtesy The Nail Spa
Breast-cancer awareness nail art. Courtesy The Nail Spa
Breast-cancer awareness nail art. Courtesy The Nail Spa
Breast-cancer awareness nail art. Courtesy The Nail Spa

Five things to do today: see a charity screening of an Oscar nominated film and show your support for breast-cancer awareness

Our daily round up of things to do. See a charity screening of an Oscar nominated film, show your support for breast-cancer awareness, experience an exclusive behind-the-scenes tour of the Meydan Stables, celebrate World Vegetarian Day and sign up your girls for Teen Yoga.

Ellen Fortini

October 01, 2014

  • English
  • Arabic

See a charity screening of the Hani Abu Assad film Omar, which was nominated for the Best Foreign Language Film at the 2014 Academy Awards. It tells the story of a young baker who crosses the separation wall in Palestine to visit his love, Nadia, and becomes a freedom fighter. At 9pm, Dh100 includes popcorn and soft drink, with all proceeds being collected by the Red Crescent and sent to Gaza, VOX Cinema, Mall of the Emirates. Book at 050 655 7348

Show your support for breast-cancer awareness. Post pink-polish selfies on Instagram for a chance to win a year of mani-pedis at The Nail Spa. Choose from the Pink Hearts & Ribbons Nail Art Collection for a style that pops, from Dh15 per nail. At various locations across the UAE, call 600 544 001, or visit www.thenailspa.com

Experience an exclusive behind-the-scenes tour of the Meydan Stables and Meydan Grandstand and Racecourse. Start with a five-star buffet breakfast at the trackside restaurant Farriers, tour the venue, learn how the horses are trained, see the equine swimming pool and more. From 7.30am to noon, from Dh250, Al Meydan Road, Nad Al Sheba, Dubai, 04 381 3405, stabletours@meydanhotels.com

Celebrate World Vegetarian Day at any PizzaExpress outlet in Dubai and choose a vegetarian dish from a special menu, which includes the classic Margherita pizza, Leggera seafood salad and penne arrabbiata. From noon until 1am, at various PizzaExpress locations in Dubai, www.pizzaexpressuae.com

Sign up the girls for Teen Yoga, where they can learn poses to develop strength, flexibility and relaxation techniques to support mental balance. Students are allowed to bring a friend to each class free. Thursdays, from 4 to 5pm, Dh50 per class, Bodytree Studio, near the corner of 11th and 26th streets, Abu Dhabi, 02 443 4448, www.bodytreestudio.com

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Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

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PROFILE OF STARZPLAY

Date started: 2014

Founders: Maaz Sheikh, Danny Bates

Based: Dubai, UAE

Sector: Entertainment/Streaming Video On Demand

Number of employees: 125

Investors/Investment amount: $125 million. Major investors include Starz/Lionsgate, State Street, SEQ and Delta Partners

Why your domicile status is important

Your UK residence status is assessed using the statutory residence test. While your residence status – ie where you live - is assessed every year, your domicile status is assessed over your lifetime.

Your domicile of origin generally comes from your parents and if your parents were not married, then it is decided by your father. Your domicile is generally the country your father considered his permanent home when you were born. 

UK residents who have their permanent home ("domicile") outside the UK may not have to pay UK tax on foreign income. For example, they do not pay tax on foreign income or gains if they are less than £2,000 in the tax year and do not transfer that gain to a UK bank account.

A UK-domiciled person, however, is liable for UK tax on their worldwide income and gains when they are resident in the UK.

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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.”

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The squad traveling to Brazil:

Faisal Al Ketbi, Ibrahim Al Hosani, Khalfan Humaid Balhol, Khalifa Saeed Al Suwaidi, Mubarak Basharhil, Obaid Salem Al Nuaimi, Saeed Juma Al Mazrouei, Saoud Abdulla Al Hammadi, Taleb Al Kirbi, Yahia Mansour Al Hammadi, Zayed Al Kaabi, Zayed Saif Al Mansoori, Saaid Haj Hamdou, Hamad Saeed Al Nuaimi. Coaches Roberto Lima and Alex Paz.

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The specs: 2018 Audi R8 V10 RWS

Price: base / as tested: From Dh632,225

Engine: 5.2-litre V10

Gearbox: Seven-speed automatic

Power: 540hp @ 8,250rpm

Torque: 540Nm @ 6,500rpm

Fuel economy, combined: 12.4L / 100km

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Director: Shady Ali
Cast: Boumi Fouad , Mohamed Tharout and Hisham Ismael
Rating: 3/5

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