Roots by Alex Haley published by Vintage. Courtesy Penguin UK
Roots by Alex Haley published by Vintage. Courtesy Penguin UK

My Favourite Reads



Roots: The Saga of an American Family by Alex Haley (1976)

A book about slavery might not be everyone’s idea of a good read but this was my first on the topic. First published in 1976, Roots follows the life of Kunta Kinte, a slave brought to America in the 18th century. The book gives an insight into young African lives, culture during that perioed, how slaves were sold and African-American history.

The Little Prince by Antoine de Saint-Exupery (1943)

Touted as a childrens’ book, The Little Prince is a philosophical tale. This is a story of a stranded pilot who meets a young prince who has fallen from an asteroid. It talks about the adult world, the journey of life. There’s  a lot of food for thought throughout, and the themes will no doubt leave you questioning the world around us.

Brave New World by Aldous Huxley (1932)

A futuristic novel written in 1931, Brave New World delves into how the human brain is conditioned as well as sleep, learning and reproductive technology. The book is a social satire and questions the norms of society and how we are all conditioned to believe in certain ideas and beliefs. A fascinating read and one that definitely left me thinking.

Siddhartha by Hermann Hesse (1922)

This book deals with the spiritual journey of Siddhartha who became Buddha. Human life and how to take the journey to enlightenment is what encompasses Siddhartha. Having grown up on Buddha’s life stories, I gained a foreign view of who others perceive Siddhartha to be. The book also talks about Indian philosophy, which is interesting in itself.

Jonathan Livingston Seagull by Richard Bach (1970)

Bach’s succinct story is about a seagull who is learning how to fly and how he gains life lessons along the way. It also focuses on self-perfection. The bird is not a conformist and is soon ostracised. He learns everything about flying and then moves on to live a happier life. It will likely resonate with those who perhaps don’t fit perfectly into society.

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Tuesday's fixtures
Group A
Kyrgyzstan v Qatar, 5.45pm
Iran v Uzbekistan, 8pm
N Korea v UAE, 10.15pm
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Skewed figures

In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458. 

Specs

Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request

Three ways to limit your social media use

Clinical psychologist, Dr Saliha Afridi at The Lighthouse Arabia suggests three easy things you can do every day to cut back on the time you spend online.

1. Put the social media app in a folder on the second or third screen of your phone so it has to remain a conscious decision to open, rather than something your fingers gravitate towards without consideration.

2. Schedule a time to use social media instead of consistently throughout the day. I recommend setting aside certain times of the day or week when you upload pictures or share information. 

3. Take a mental snapshot rather than a photo on your phone. Instead of sharing it with your social world, try to absorb the moment, connect with your feeling, experience the moment with all five of your senses. You will have a memory of that moment more vividly and for far longer than if you take a picture of it.

'Brazen'

Director: Monika Mitchell

Starring: Alyssa Milano, Sam Page, Colleen Wheeler

Rating: 3/5

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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UAE currency: the story behind the money in your pockets
The specs: 2018 BMW R nineT Scrambler

Price, base / as tested Dh57,000

Engine 1,170cc air/oil-cooled flat twin four-stroke engine

Transmission Six-speed gearbox

Power 110hp) @ 7,750rpm

Torque 116Nm @ 6,000rpm

Fuel economy, combined 5.3L / 100km

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