Do it yourself: Charles Kenneth, a businessman who lives in Sharjah, pumps petrol at the Enoc off Jumeirah Beach Road in Dubai.
Do it yourself: Charles Kenneth, a businessman who lives in Sharjah, pumps petrol at the Enoc off Jumeirah Beach Road in Dubai.
Do it yourself: Charles Kenneth, a businessman who lives in Sharjah, pumps petrol at the Enoc off Jumeirah Beach Road in Dubai.
Do it yourself: Charles Kenneth, a businessman who lives in Sharjah, pumps petrol at the Enoc off Jumeirah Beach Road in Dubai.

Get pumped


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Earlier this month, Emirates National Oil Company, better known as Enoc, embarked on a bold project: getting the drivers of Dubai and the northern emirates to leave the air-conditioned, window-tinted, leather-upholstered comfort of their cars to pump their own petrol. They weren't the first to try. Abu Dhabi National Oil Company, or Adnoc, launched a similar program in March. Both companies are primarily concerned with nudging customers toward making more purchases at their convenience stores. But the Enoc program was notable for its timing. The company waited until the hottest month of the year because it was the best way to test people's willingness to fill their own tanks.

In my five months in the country, I'd never seen anyone pump his own fuel, even when the weather was pleasant. I was curious as to how these companies planned to change people's deeply ingrained behaviour. So one recent morning, I struck out to catch one of the UAE's petroleum consumption pioneers in action. It wasn't easy. I had to go to several stations before finding one that offered the option, and when I finally pulled into the arc of cars queuing behind the "Self-Service" sign at the Adnoc station on Salam Street, I noticed that no one in front of me was leaving his car. Like the lines for full service, this one had two attendants in blue uniforms who looked every bit as busy as their colleagues. I asked one of them, a fresh-faced Indian youth named Ashraf Mayyala Ali, why he was filling up cars that had queued for self-service.

"Before, maybe two months back, the company decided that if the customer is requesting, we will fill," he said. "Otherwise, we will inform how to fill." On this busy morning, no one was requesting self-service. Car after car pulled up silently to the pump. The only question that was asked, so regularly that it became a kind of chant, was "cash or charge?" This was apparently the way the drivers wanted it. A Palestinian man in a crisply pressed button-down replied "no thank you" to the idea of ever pouring his own petrol; a labourer in an truck from the municipality just shook his head sheepishly at the idea. A rugged-looking Egyptian man in an equally rugged-looking pick-up truck thought the idea had merit, but he wasn't going to try it today. Many seemed surprised to discover that they were in the self-service line at all.

"People do not like to fill up self," Ali explained. "They need help." But it would likely be different if the self-service petrol were actually cheaper. The current system puts the savings from pumping one's own petrol on a card that customers can use at Adnoc Oasis stores or donate to charity. I went inside to see if anyone had redeemed their points, but couldn't get anywhere near the counter. A crush of 50 men, most dressed in traditional Pakistani garb, stood amid the aisles of chocolate and plush toys. Their impatience was fermenting into anger.

"It's been like that for the last 15 days," said Shane Nier, the shift manager of the Marybown restaurant at the back of the store. "It's because they have opened the new cards for the diesel, and it's much less expensive than in Dubai." Adnoc has been inundated by haulers as its diesel prices have held steady while those of its competitors, which rise with global markets, have more than doubled in the last six months. The company instituted a pre-paid card system to limit the crowds driving in from other emirates, but on this day there seemed to be only one person assigned to administer that system. The car park was a frenzy of deadlocked honking, and the lines stretched much of the way down the street.

"It's crazy," Nier said, shaking his head. "Everyone is angry." The scene was so chaotic that you could hardly blame the office-bound crowd for not wanting to get out of their cars. But the spectacle did answer my question, in a way. People will change their behaviour - in this case, by driving across hours of desert motorway - for the sake of cheaper fuel. They are just not likely to change for discount chocolate bars.

khagey@thenational.ae

It

Director: Andres Muschietti

Starring: Bill Skarsgard, Jaeden Lieberher, Sophia Lillis, Chosen Jacobs, Jeremy Ray Taylor

Three stars

Crazy Rich Asians

Director: Jon M Chu

Starring: Constance Wu, Henry Golding, Michelle Yeon, Gemma Chan

Four stars

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.”

WHAT IS A BLACK HOLE?

1. Black holes are objects whose gravity is so strong not even light can escape their pull

2. They can be created when massive stars collapse under their own weight

3. Large black holes can also be formed when smaller ones collide and merge

4. The biggest black holes lurk at the centre of many galaxies, including our own

5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed

MISSION: IMPOSSIBLE – FINAL RECKONING

Director: Christopher McQuarrie

Starring: Tom Cruise, Hayley Atwell, Simon Pegg

Rating: 4/5

The%C2%A0specs%20
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%20Dual%20synchronous%20electric%20motors%20%20%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E646hp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E830Nm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ETwo-speed%20auto%20(rear%20axle)%3B%20single-speed%20auto%20(front)%20%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh552%2C311%3B%20Dh660%2C408%20(as%20tested)%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3Enow%3C%2Fp%3E%0A
How to watch Ireland v Pakistan in UAE

When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.

Squad

Ali Kasheif, Salim Rashid, Khalifa Al Hammadi, Khalfan Mubarak, Ali Mabkhout, Omar Abdulrahman, Mohammed Al Attas, Abdullah Ramadan, Zayed Al Ameri (Al Jazira), Mohammed Al Shamsi, Hamdan Al Kamali, Mohammed Barghash, Khalil Al Hammadi (Al Wahda), Khalid Essa, Mohammed Shaker, Ahmed Barman, Bandar Al Ahbabi (Al Ain), Al Hassan Saleh, Majid Suroor (Sharjah) Walid Abbas, Ahmed Khalil (Shabab Al Ahli), Tariq Ahmed, Jasim Yaqoub (Al Nasr), Ali Saleh, Ali Salmeen (Al Wasl), Hassan Al Muharami (Baniyas) 

Manikarnika: The Queen of Jhansi

Director: Kangana Ranaut, Krish Jagarlamudi

Producer: Zee Studios, Kamal Jain

Cast: Kangana Ranaut, Ankita Lokhande, Danny Denzongpa, Atul Kulkarni

Rating: 2.5/5

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 
if you go

The flights

Etihad, Emirates and Singapore Airlines fly direct from the UAE to Singapore from Dh2,265 return including taxes. The flight takes about 7 hours.

The hotel

Rooms at the M Social Singapore cost from SG $179 (Dh488) per night including taxes.

The tour

Makan Makan Walking group tours costs from SG $90 (Dh245) per person for about three hours. Tailor-made tours can be arranged. For details go to www.woknstroll.com.sg

Emergency phone numbers in the UAE

Estijaba – 8001717 –  number to call to request coronavirus testing

Ministry of Health and Prevention – 80011111

Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre

Emirates airline – 600555555

Etihad Airways – 600555666

Ambulance – 998

Knowledge and Human Development Authority – 8005432 ext. 4 for Covid-19 queries

Electric scooters: some rules to remember
  • Riders must be 14-years-old or over
  • Wear a protective helmet
  • Park the electric scooter in designated parking lots (if any)
  • Do not leave electric scooter in locations that obstruct traffic or pedestrians
  • Solo riders only, no passengers allowed
  • Do not drive outside designated lanes

THE SPECS

Engine: Four-cylinder 2.5-litre

Transmission: Seven-speed auto

Power: 165hp

Torque: 241Nm

Price: Dh99,900 to Dh134,000

On sale: now

What can you do?

Document everything immediately; including dates, times, locations and witnesses

Seek professional advice from a legal expert

You can report an incident to HR or an immediate supervisor

You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline

In criminal cases, you can contact the police for additional support