Why Almaty?
Once the capital of Kazakhstan, Almaty is still the country’s largest city with a population of 1.5 million, which is equivalent to 9 per cent of the entire population of Kazakhstan. It’s also the country’s wealthiest city and probably the most attractive destination for a city break, thanks to its many upscale hotels, fine-dining spots, shopping malls and museums.
In 2011, Almaty co-hosted the annual Asian Winter Games. Today, Almaty is competing against Beijing and Oslo to host the 2022 Winter Olympics. The winter-sport facilities and ski resorts located in the surrounding mountains are world-renowned. The most popular is the Shymbulak Ski Resort, situated 25 kilometres outside of the city. It has three ski lifts, with the highest reaching 3,200 metres above sea level. The Shymbulak Hotel is next to the ski lifts (doubles cost from about US$66 [Dh242]).
Ice-skating enthusiasts should check out the Medeu outdoor rink – its altitude (1,690 metres) makes it the highest rink in the world. Culturally inclined travellers will appreciate Almaty’s 18 theatres and 90 museums and art galleries. The Central State Museum is among Central Asia’s oldest and largest museums.
A comfortable bed
The Rixos (almaty.rixos.com; 007 727 300 3300) is the city's largest luxury hotel, with 236 rooms and suites. Located in the centre of Almaty and offering meeting rooms of different sizes, it's an ideal choice for business travellers. Doubles cost from about $245 [Dh900] per night.
The Ritz-Calton (www.ritzcarlton.com/almaty; 007 727 3328888) is on the top 10 floors of the 37-floor Esentai Tower, the tallest mixed-use building in Kazakhstan. The hotel's rooms and suites have views of the surrounding mountainous landscape, while the Sky Lounge is an elegant spot for a traditional Kazakh afternoon tea (16,000 Kazakh tenge [Dh324] for two). Doubles cost from about 57,000 tenge (Dh1,153).
Mildom Apartments (www.mildomhotel.kz; 007 727 261 0920) is a boutique design hotel that's only a short walk away from many of the city's main tourist sites, including the must-see Astana Square and Zenkov Cathedral. Doubles cost from about 20,000 tenge [Dh405].
Find your feet
If travelling around Almaty on the underground, get off at the Zhibek Zholy station, from where you’ll be a few steps from two of the city’s main sightseeing spots: Astana Square and the 28 Panfilov Heroes Memorial Park. At the heart of the park lies the candy-coloured Zenkov Cathedral, which is built entirely of wood. From there, walk to the pedestrianised Arbat Street, one of Almaty’s most-strolled thoroughfares, lined with coffee houses with outdoor seating.
Meet the locals
Almaty has a lively cafe scene – its coffee houses are popular among locals and tourists. Caffè Kangnam on Arbat Street serves a wide range of hot and cold coffee specialities. It also serves pastries and Korean dishes. Traveler’s Coffee on Shevchenko Street is popular among university students and young professionals. Cafeteria is a cozy coffee house with vintage interiors and a large outdoor terrace on the relatively hidden yet central Kurmangazy Street.
Book a table
Restaurant Zheruiyk serves Kazakh and international dishes. It’s set in a large courtyard and has eye-catching traditional interiors. Salads cost about 900 tenge (Dh18).
The centrally located Georgian restaurant Daredzhani (www.abr.kz/restaurants/daredzhani) has colourful decor and a family-friendly atmosphere. Vegetarians will appreciate the many options available for them, including various large salads for 1,400 tenge (Dh28), such as the soko pomidorit speciality, comprising oyster mushrooms, tomatoes, sweet peppers, radish and mayonnaise.
Shopper’s paradise
There are several malls in Almaty, but the city’s main shopping street is Gogol Street, which stretches to the east from Panfilov Park. There you’ll mostly find high-end American and European brands and designer labels, such as Paul Smith, Trussardi and Rolex.
What to avoid
Most taxis in Almaty aren't official and tend to charge foreigners higher prices. To avoid that, one recommended taxi provider is Komandir (www.komandir.kz).
Don’t miss
The Green Bazaar might not be Almaty’s most fashionable shopping spot, but it’s definitely an entertaining place to stroll and take colourful photos. The large complex of stalls features a huge variety of products, ranging from fresh fruits and bread to hats and stockings.
Take the skyline ropeway to the top of Kok Tobe, the highest point in Almaty, where you can enjoy panoramic views of the city. Beside the observation platform, you’ll find a popular amusement park and several restaurants, as well as a bronze statue of the pop band The Beatles.
Go there
Etihad (www.etihad.ae; 02 599 0000) flies from Abu Dhabi to Almaty four times a week. A return flight costs about Dh2,415, including taxes.
weekend@thenational.ae
Follow us @TravelNational
Follow us on Facebook for discussions, entertainment, reviews, wellness and news.
The Florida Project
Director: Sean Baker
Starring: Bria Vinaite, Brooklynn Prince, Willem Dafoe
Four stars
The specs
Engine: 2.0-litre 4-cylturbo
Transmission: seven-speed DSG automatic
Power: 242bhp
Torque: 370Nm
Price: Dh136,814
The Comeback: Elvis And The Story Of The 68 Special
Simon Goddard
Omnibus Press
THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now
RESULT
Leeds United 1 Manchester City 1
Leeds: Rodrigo (59')
Man City: Sterling (17')
Man of the Match: Rodrigo Moreno (Leeds)
The Brutalist
Director: Brady Corbet
Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn
Rating: 3.5/5
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
Dengue%20fever%20symptoms
%3Cul%3E%0A%3Cli%3EHigh%20fever%3C%2Fli%3E%0A%3Cli%3EIntense%20pain%20behind%20your%20eyes%3C%2Fli%3E%0A%3Cli%3ESevere%20headache%3C%2Fli%3E%0A%3Cli%3EMuscle%20and%20joint%20pains%3C%2Fli%3E%0A%3Cli%3ENausea%3C%2Fli%3E%0A%3Cli%3EVomiting%3C%2Fli%3E%0A%3Cli%3ESwollen%20glands%3C%2Fli%3E%0A%3Cli%3ERash%3C%2Fli%3E%0A%3C%2Ful%3E%0A%3Cp%3EIf%20symptoms%20occur%2C%20they%20usually%20last%20for%20two-seven%20days%3C%2Fp%3E%0A
Brief scores:
Manchester City 3
Aguero 1', 44', 61'
Arsenal 1
Koscielny 11'
Man of the match: Sergio Aguero (Manchester City)
The biog
Favourite film: The Notebook
Favourite book: What I know for sure by Oprah Winfrey
Favourite quote: “Social equality is the only basis of human happiness” Nelson Madela. Hometown: Emmen, The Netherlands
Favourite activities: Walking on the beach, eating at restaurants and spending time with friends
Job: Founder and Managing Director of Mawaheb from Beautiful Peopl
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
5pm: Maiden (PA) Dh80,000 (Turf) 1,600m; Winner: Aahid Al Khalediah II, Pat Cosgrave (jockey), Helal Al Alawi (trainer)
5.30pm: Handicap (PA) Dh80,000 (T) 2,200m; Winner: Whistle, Harry Bentley, Abdallah Al Hammadi
6pm: Wathba Stallions Cup - Maiden (PA) Dh70,000 (T) 1,600m; Winner: Alsaied, Szczepan Mazur, Ibrahim Al Hadhrami
6.30pm: Emirates Fillies Classic – Prestige (PA) Dh100,000 (T) 1,600m; Winner: Mumayaza, Antonio Fresu, Eric Lemartinel
7pm: Emirates Colts Classic – Prestige (PA) Dh100,000 (T) 1,600m; Winner: Hameem, Adrie de Vries, Abdallah Al Hammadi
7.30pm: President’s Cup – Group 1 (PA) Dh2,500,000 (T) 2,200m; Winner: Somoud, Richard Mullen, Jean de Roualle
8pm: President’s Cup – Listed (TB) Dh380,000 (T) 1,400m; Winner: Medahim, Richard Mullen, Satish Seemar
Key products and UAE prices
iPhone XS
With a 5.8-inch screen, it will be an advance version of the iPhone X. It will be dual sim and comes with better battery life, a faster processor and better camera. A new gold colour will be available.
Price: Dh4,229
iPhone XS Max
It is expected to be a grander version of the iPhone X with a 6.5-inch screen; an inch bigger than the screen of the iPhone 8 Plus.
Price: Dh4,649
iPhone XR
A low-cost version of the iPhone X with a 6.1-inch screen, it is expected to attract mass attention. According to industry experts, it is likely to have aluminium edges instead of stainless steel.
Price: Dh3,179
Apple Watch Series 4
More comprehensive health device with edge-to-edge displays that are more than 30 per cent bigger than displays on current models.
Getting%20there%20and%20where%20to%20stay
%3Cp%3EFly%20with%20Etihad%20Airways%20from%20Abu%20Dhabi%20to%20New%20York%E2%80%99s%20JFK.%20There's%2011%20flights%20a%20week%20and%20economy%20fares%20start%20at%20around%20Dh5%2C000.%3Cbr%3EStay%20at%20The%20Mark%20Hotel%20on%20the%20city%E2%80%99s%20Upper%20East%20Side.%20Overnight%20stays%20start%20from%20%241395%20per%20night.%3Cbr%3EVisit%20NYC%20Go%2C%20the%20official%20destination%20resource%20for%20New%20York%20City%20for%20all%20the%20latest%20events%2C%20activites%20and%20openings.%3Cbr%3E%3C%2Fp%3E%0A
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Day 3, Dubai Test: At a glance
Moment of the day Lahiru Gamage, the Sri Lanka pace bowler, has had to play a lot of cricket to earn a shot at the top level. The 29-year-old debutant first played a first-class game 11 years ago. His first Test wicket was one to savour, bowling Pakistan opener Shan Masood through the gate. It set the rot in motion for Pakistan’s batting.
Stat of the day – 73 Haris Sohail took 73 balls to hit a boundary. Which is a peculiar quirk, given the aggressive intent he showed from the off. Pakistan’s batsmen were implored to attack Rangana Herath after their implosion against his left-arm spin in Abu Dhabi. Haris did his best to oblige, smacking the second ball he faced for a huge straight six.
The verdict One year ago, when Pakistan played their first day-night Test at this ground, they held a 222-run lead over West Indies on first innings. The away side still pushed their hosts relatively close on the final night. With the opposite almost exactly the case this time around, Pakistan still have to hope they can salvage a win from somewhere.
Mission%3A%20Impossible%20-%20Dead%20Reckoning%20Part%20One
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Christopher%20McQuarrie%3Cbr%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Tom%20Cruise%2C%20Hayley%20Atwell%2C%20Pom%20Klementieff%2C%20Simon%20Pegg%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
The%20BaaS%20ecosystem
%3Cp%3EThe%20BaaS%20value%20chain%20consists%20of%20four%20key%20players%3A%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EConsumers%3A%3C%2Fstrong%3E%20End-users%20of%20the%20financial%20product%20delivered%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EDistributors%3A%3C%2Fstrong%3E%20Also%20known%20as%20embedders%2C%20these%20are%20the%20firms%20that%20embed%20baking%20services%20directly%20into%20their%20existing%20customer%20journeys%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EEnablers%3A%3C%2Fstrong%3E%20Usually%20Big%20Tech%20or%20FinTech%20companies%20that%20help%20embed%20financial%20services%20into%20third-party%20platforms%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EProviders%3A%3C%2Fstrong%3E%20Financial%20institutions%20holding%20a%20banking%20licence%20and%20offering%20regulated%20products%3C%2Fp%3E%0A
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
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
