How the ships of the desert charted our journey


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Ali Al Saloom is on holiday, so this week he will share various facts about the UAE. His biography will resume next weekend.

The camel was an important tool for survival in the desert and is therefore intimately associated with Arabs from early days. When water is scarce in the dry desert, camel milk becomes a precious substitute for staying hydrated. The camel hide and hair is used to make tents as well as containers for water and food and clothing. The meat of young male camels is a delicacy served to important guests. And last but not least, camels were the only means of transport, ideally suited for the sandy desert before off-road vehicles arrived in the region.

The number of camels a man owned constituted a measure of his wealth. It is only natural that as a people we cherish this key symbol of Arabian life even today. In his book The Distinctive Arab Heritage, Ahmed K A Al Mansoori writes: "It is often claimed that every Arabic word has one basic meaning, an opposite meaning and a meaning that has something to do with a camel."

We demonstrate our love for the camel and pride in our heritage by hosting the Mazayin Dhafrah festival, where the best pedigreed camels compete to be the fastest, biggest and best-looking. The contest, held annually in December in Abu Dhabi, is one of the richest and biggest events of its kind. Bedouins, who now live in reserved areas, continue camel breeding and are undoubtedly the experts on breeding and training racing camels. We hope events of this kind will renew our belief in living in harmony with our environment.

Camels have very pronounced individual features that come from their lineage and the identity of the tribe that bred them. Our ancestors could tell which tribe a certain camel belonged to just by looking at its footprints. They could also tell if there were wars in an area by tracking camel footprints. I think this talent has given Arabs an eye for detail and an ability to detect subtle patterns not visible to the untrained eye. I also suspect that our respect for our elders is linked to our camel heritage. Small boys who saw their fathers or elders in the tribe interpret the past, present and possibly the future based on camel footprints were instantly in awe of them.

The Arab takes pride in the beauty of his camel. A fine female camel has small, pointed ears, shiny eyes, small feet, long slim legs, an arched neck, broad ribs and chest, and her hump is immediately above her stomach. The type of camel found in the Middle East is the dromedary, which has a single hump and coarse, short hair. Nomad poetry is rich with camel imagery, and there are several references to the camel in the Holy Quran. The most memorable is the Surah 88, Al Ghashiyah, which depicts God's immense power to create anything and gives the camel as an example of his marvellous design: "Do they not look at the camels, how they are created?

"And at the sky, how it is raised high? And the mountains, how they are fixed firm?

"And the earth, how it is spread out?"

Arabs are not the only people to employ camels for survival. Napoleon Bonaparte was the first military commander to use camels in warfare, in Egypt from 1799 to 1801. He also organised a camel corps in Sudan. The British formed the Imperial Camel Corps in 1916 and a memorial to the mounted camel stands on an embankment on the River Thames.

Coastal survival

Arab people developed different sets of skills based on the peculiarities of their habitat. For example, the inhabitants of the oases were used to a far more even-paced life than the nomads. They were also exposed to higher oxygen levels and had a very different body constitution. They also had more time to think. It is evident in the strategic contingency plans and exit plans of the business families from these regions. The emirate of Abu Dhabi, founded by the Bani Yas tribe, reflects this philosophy.

Coastal settlements were more permanent. Being close to the sea, people feared the fury of the floods and scarcity of fish and prepared for such eventualities. Their survival skills became second nature to them.

I think an Arab is very adept at picking up variations and predicting where the course is headed. This sense of foresight has proved to be crucial when it comes to business decisions, especially when the business runs into trouble after going a considerable way off-course. The coastal lifestyle has given rise to an ability to take calculated risks but also to be prepared for crises.

Coastal people earned their living from pearling, ship or dhow building and trade with the Indian subcontinent. The ruling Al Qasimi family of Sharjah is one of the most prominent such families. They leveraged their interaction with foreigners to collect information and educate themselves. You can see their preference for learning, as Sharjah is home to several modern educational institutions.

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Tank warfare

Lt Gen Erik Petersen, deputy chief of programs, US Army, has argued it took a “three decade holiday” on modernising tanks. 

“There clearly remains a significant armoured heavy ground manoeuvre threat in this world and maintaining a world class armoured force is absolutely vital,” the general said in London last week.

“We are developing next generation capabilities to compete with and deter adversaries to prevent opportunism or miscalculation, and, if necessary, defeat any foe decisively.”

MATCH INFO

Liverpool 2 (Van Dijk 18', 24')

Brighton 1 (Dunk 79')

Red card: Alisson (Liverpool)

Gifts exchanged
  • King Charles - replica of President Eisenhower Sword
  • Queen Camilla -  Tiffany & Co vintage 18-carat gold, diamond and ruby flower brooch
  • Donald Trump - hand-bound leather book with Declaration of Independence
  • Melania Trump - personalised Anya Hindmarch handbag

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.”

Results
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The specs

Engine: 4.0-litre V8

Power: 503hp at 6,000rpm

Torque: 685Nm at 2,000rpm

Transmission: 8-speed auto

Price: from Dh850,000

On sale: now

UAE currency: the story behind the money in your pockets
The specs: 2018 Nissan Altima


Price, base / as tested: Dh78,000 / Dh97,650

Engine: 2.5-litre in-line four-cylinder

Power: 182hp @ 6,000rpm

Torque: 244Nm @ 4,000rpm

Transmission: Continuously variable tranmission

Fuel consumption, combined: 7.6L / 100km

Fresh faces in UAE side

Khalifa Mubarak (24) An accomplished centre-back, the Al Nasr defender’s progress has been hampered in the past by injury. With not many options in central defence, he would bolster what can be a problem area.

Ali Salmeen (22) Has been superb at the heart of Al Wasl’s midfield these past two seasons, with the Dubai club flourishing under manager Rodolfo Arrubarrena. Would add workrate and composure to the centre of the park.

Mohammed Jamal (23) Enjoyed a stellar 2016/17 Arabian Gulf League campaign, proving integral to Al Jazira as the capital club sealed the championship for only a second time. A tenacious and disciplined central midfielder.

Khalfan Mubarak (22) One of the most exciting players in the UAE, the Al Jazira playmaker has been likened in style to Omar Abdulrahman. Has minimal international experience already, but there should be much more to come.

Jassim Yaqoub (20) Another incredibly exciting prospect, the Al Nasr winger is becoming a regular contributor at club level. Pacey, direct and with an eye for goal, he would provide the team’s attack an extra dimension.

Anghami
Started: December 2011
Co-founders: Elie Habib, Eddy Maroun
Based: Beirut and Dubai
Sector: Entertainment
Size: 85 employees
Stage: Series C
Investors: MEVP, du, Mobily, MBC, Samena Capital

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