The Rolls-Royce Dawn. Our bespoke test car, which costs Dh1.65 million, had the optional extra of ‘turchese’ paintwork. As standard, the Dawn’s twin-turbo 6.6L V12 engine produces 563hp. Satish Kumar / The National
The Rolls-Royce Dawn. Our bespoke test car, which costs Dh1.65 million, had the optional extra of ‘turchese’ paintwork. As standard, the Dawn’s twin-turbo 6.6L V12 engine produces 563hp. Satish Kumar Show more

He says, she says: A male/female perspective on the Rolls-Royce Dawn



How do you test a status symbol? In the past six years of living in the UAE, I have taken an array of cars through the gates of Emirates Palace in Abu Dhabi, from dust-smeared hire cars upwards, but nothing has got me close to having the valet park it next to the front entrance.

Would the Dawn, Rolls-Royce’s dreamy V12-powered convertible, break that run? Sadly not, but only because after I smilingly wave at the staff directing me towards the self-park and gleefully turn into the valet entrance, I don’t realise I’m about to drive up to a welcome party for some high-level UAE officials. Oops. The Dawn is driven off into the bowels of the palace parking, although it’s probably the only reason I get as far as the entrance.

Failed fair test aside, it remains no secret that the UAE is at the pinnacle of Rolls-Royce’s worldwide efforts, with its Abu Dhabi and Dubai dealerships annually duking it out for the top global sales figures.

Going by many Rolls on the roads here, their owners often seem to suffer severe cases of colour-blindness when it comes to exterior paintwork. I can now confirm, however, from a male perspective at least, that the company itself might also have a case to answer. Our test car is in “turchese”, which accidentally aptly evokes images of a cheesy turquoise. It’s an opinion-splitter: almost every female friend who sees the car is in love with its shades; male pals mostly wince with a severity usually reserved for seeing a fellow fella hit somewhere painful.

As expected for a car with a base price of Dh1.5 million, the Dawn has embellishments aplenty to bring a smile to even the most jaded motorist’s face. For one, at night, the Spirit of Ecstasy figurine is illuminated (an optional extra on our bespoke model). Naturally, luxury levels are also considerable. The carpeting is thicker than at any house I have ever lived in. The front seats have massage functions. The analogue dials and dash clock take you back to simpler times.

While most Rollers are closer to piloting a humungous barge than a mere car, the Dawn isn’t half as sizeable as you might fear – although its long nose drops away, which can prove a touch worrisome when manoeuvring. That styling makes the Dawn by far the most-attractive Rolls on the grand old company’s current roster, though, with lines in perfect synergy with top up or down – although it’s an awful waste to do anything other than sidle around at low speeds with the latter configuration. You can hit 100kph from standstill in 4.9 seconds, but it feels crass to do so – like sprinting in a three-piece suit. And that’s the magic: you don’t feel obliged to go at any other speed than your whims dictate, but the Dawn can handle every extreme with a grace that Rolls-Royce has built its reputation upon.

aworkman@thenational.ae

It was the end of a family visit, and I had a little treat in store for my mum and sister, who were visiting from Australia. I was planning to drop them at Abu Dhabi airport in a Dawn.

They were eagerly anticipating the drive in ultimate luxury (even if it was to be followed by a 14-hour flight in economy). I, on the other hand, was nervous about driving such an expensive vehicle.

The Dawn arrived at my home in all its turquoise glory. It was a definite head-turner, and oh was it gorgeous. I sat in the driver’s seat and took in its retro vibe. The thick sheepskin floor makes you want to remove your shoes and sink your toes right in.

I noticed the white leather upholstery – not exactly practical, but if you own a Rolls, you probably have someone else taking care of the leather. The doors were particularly long, which also meant a stretch out of your seat to close them, but that’s no bother in the Dawn. There’s a button near the side mirrors for such matters. And should you get caught in a rare shower, there’s umbrellas neatly stored in the door frames.

Before setting off for the airport, we decided to go for a drive around the streets of my neighbourhood with the roof down to test its head-turning ability. It didn’t disappoint.

Being a convertible, the boot was awkwardly shaped: not deep enough to fit my family’s exploding suitcases, but long, so better for plenty of smaller objects.

The Dawn was beautifully quiet, eliminating most road noise, and the 18-speaker sound system was a treat. Even the radio sounded like a symphony. Despite its size, the Dawn was easy to handle, but its sheer bulk made me nervous. The cameras did help, though.

There was enough power when I wanted it and the technology was easy to decipher. The gear-change column on the steering wheel took some getting used to, but I’m sure I would adjust eventually.

It’s a beautiful vehicle – smooth, quiet, easy to drive (despite its size), powerful, attractive – but I couldn’t wait to give it back. Not because I didn’t enjoy driving it, but because it attracted too much attention. If you’re in the market for a head-turner, this is for you. I would even recommend choosing the “turchese” paint job. If you want to turn heads, you may as well do it properly.

atomlinson@thenational.ae

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COMPANY PROFILE

Company name: Almouneer
Started: 2017
Founders: Dr Noha Khater and Rania Kadry
Based: Egypt
Number of staff: 120
Investment: Bootstrapped, with support from Insead and Egyptian government, seed round of
$3.6 million led by Global Ventures

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What is Financial Fair Play?
Introduced in 2011 by Uefa, European football’s governing body, it demands that clubs live within their means. Chiefly, spend within their income and not make substantial losses.

What the rules dictate? 
The second phase of its implementation limits losses to €30 million (Dh136m) over three seasons. Extra expenditure is permitted for investment in sustainable areas (youth academies, stadium development, etc). Money provided by owners is not viewed as income. Revenue from “related parties” to those owners is assessed by Uefa's “financial control body” to be sure it is a fair value, or in line with market prices.

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There are a number of punishments, including fines, a loss of prize money or having to reduce squad size for European competition – as happened to PSG in 2014. There is even the threat of a competition ban, which could in theory lead to PSG’s suspension from the Uefa Champions League.

How to play the stock market recovery in 2021?

If you are looking to build your long-term wealth in 2021 and beyond, the stock market is still the best place to do it as equities powered on despite the pandemic.

Investing in individual stocks is not for everyone and most private investors should stick to mutual funds and ETFs, but there are some thrilling opportunities for those who understand the risks.

Peter Garnry, head of equity strategy at Saxo Bank, says the 20 best-performing US and European stocks have delivered an average return year-to-date of 148 per cent, measured in local currency terms.

Online marketplace Etsy was the best performer with a return of 330.6 per cent, followed by communications software company Sinch (315.4 per cent), online supermarket HelloFresh (232.8 per cent) and fuel cells specialist NEL (191.7 per cent).

Mr Garnry says digital companies benefited from the lockdown, while green energy firms flew as efforts to combat climate change were ramped up, helped in part by the European Union’s green deal. 

Electric car company Tesla would be on the list if it had been part of the S&P 500 Index, but it only joined on December 21. “Tesla has become one of the most valuable companies in the world this year as demand for electric vehicles has grown dramatically,” Mr Garnry says.

By contrast, the 20 worst-performing European stocks fell 54 per cent on average, with European banks hit by the economic fallout from the pandemic, while cruise liners and airline stocks suffered due to travel restrictions.

As demand for energy fell, the oil and gas industry had a tough year, too.

Mr Garnry says the biggest story this year was the “absolute crunch” in so-called value stocks, companies that trade at low valuations compared to their earnings and growth potential.

He says they are “heavily tilted towards financials, miners, energy, utilities and industrials, which have all been hit hard by the Covid-19 pandemic”. “The last year saw these cheap stocks become cheaper and expensive stocks have become more expensive.” 

This has triggered excited talk about the “great value rotation” but Mr Garnry remains sceptical. “We need to see a breakout of interest rates combined with higher inflation before we join the crowd.”

Always remember that past performance is not a guarantee of future returns. Last year’s winners often turn out to be this year’s losers, and vice-versa.

COMPANY PROFILE

Company name: Revibe
Started: 2022
Founders: Hamza Iraqui and Abdessamad Ben Zakour
Based: UAE
Industry: Refurbished electronics
Funds raised so far: $10m
Investors: Flat6Labs, Resonance and various others

Company profile

Company name: Fasset
Started: 2019
Founders: Mohammad Raafi Hossain, Daniel Ahmed
Based: Dubai
Sector: FinTech
Initial investment: $2.45 million
Current number of staff: 86
Investment stage: Pre-series B
Investors: Investcorp, Liberty City Ventures, Fatima Gobi Ventures, Primal Capital, Wealthwell Ventures, FHS Capital, VN2 Capital, local family offices

Company Profile

Name: Direct Debit System
Started: Sept 2017
Based: UAE with a subsidiary in the UK
Industry: FinTech
Funding: Undisclosed
Investors: Elaine Jones
Number of employees: 8

COMPANY PROFILE

Company: Eco Way
Started: December 2023
Founder: Ivan Kroshnyi
Based: Dubai, UAE
Industry: Electric vehicles
Investors: Bootstrapped with undisclosed funding. Looking to raise funds from outside

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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

A MAN FROM MOTIHARI

Author: Abdullah Khan
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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.”

COMPANY PROFILE

Name: Xpanceo

Started: 2018

Founders: Roman Axelrod, Valentyn Volkov

Based: Dubai, UAE

Industry: Smart contact lenses, augmented/virtual reality

Funding: $40 million

Investor: Opportunity Venture (Asia)

Kill

Director: Nikhil Nagesh Bhat

Starring: Lakshya, Tanya Maniktala, Ashish Vidyarthi, Harsh Chhaya, Raghav Juyal

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Creator: Ramez Galal

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Rating: 2.5/5

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Junichiro
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Translated by Paul McCarthy
Daunt Books 

COMPANY PROFILE

Company name: HyperPay

Started: 2014

Founder: Muhannad Ebwini

Based: Riyadh, Saudi Arabia

Industry: FinTech

Funding size: $55m

Investors: AB Ventures, Amwal Capital, INet, Mada VC, Mastercard, SVC

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