Suhail Matar wanted to feel like he was always on vacation. So the 25-year-old Emirati from Dubai created a fashion house dedicated to designing resort and getaway clothes, including swimsuits.
“Whenever you wear one of Suhail Matar’s clothes, it should feel like you are on vacation,” he laughs.
As far as he knows, he is the only Emirati designing and making swimming trunks in distinct prints for men in the UAE. He hopes to expand into women’s swimwear soon.
In the two years since he launched his collection, he has become known as the “swimming suit man”. The inspiration for his brand name Velorum, came from his own name, Suhail – the star system in the constellation of Vella that is known for its brightness. The Arabs referred to several of Argo’s stars as Suhail, including Canopus, where its disappearance and appearance mark the summer. So it seems summer and Matar’s life are connected regardless of the actual astronomical name of the stars.
“The UAE culture is tied to the beach and I wanted to bring that out through my clothes. One should alway feels relaxed and comfortable in them,” he says.
The young Emirati has been sketching clothes and designs since the age of 15. He studied general media at the Higher Colleges of Technology in Dubai and worked in TV for two years before deciding to start his own business and returning to his original passion.
His women's clothes collection can be found at The Fashion Vault at Sunset Mall, Dubai, and swimsuits can be bought online at www.thestylechamber.com.
“With every collection, I learn something new. What worked, what didn’t and I build on that.”
“What I like about this field, is that it is always an adventure,” he says.
Favourite perfume?
Bleu de Chanel, or Chanel Blue for men.
Who is your role model?
My mother is my hero. She always tells me, whatever you do, just continue and move forward, bad or good, until you reach your goal. She reminds me to never give up on my dreams.
Who is your fashion idol?
Domenico Dolce and Stefano Gabbana – I really like the brand and love what they create.
Favourite motto?
Trust your struggles.
Favourite cartoons?
Anything by Disney is amazing. One of my all-time favourites is Alice in Wonderland (1951). Such a great cartoon, full of adventure.
Favourite dishes?
Anything Italian is good – I love all kinds of pasta.
Favourite drink?
Pineapple and green apple juice. It is so refreshing.
Favourite music?
Red Hot Chili Peppers when I work, and Kylie Minogue’s old classics when I am not working.
Advice to young Emiratis?
Never give up, continue what you want to do. So many brands come out, then suddenly stop. They don’t continue when they hit a bump. The key is to just continue even if you are losing.
Favourite actress?
Jennifer Aniston. She really acts well in comedies.
Favourite movie?
Most recently Blue Jasmine (2013 American movie written and directed by Woody Allen). I really enjoyed it.
Favourite pastime?
I try my best to hang out with friends and family whenever I find free time. Being with loved ones is the best pastime.
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.
RESULT
Arsenal 0 Chelsea 3
Chelsea: Willian (40'), Batshuayi (42', 49')
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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.”
HIV on the rise in the region
A 2019 United Nations special analysis on Aids reveals 37 per cent of new HIV infections in the Mena region are from people injecting drugs.
New HIV infections have also risen by 29 per cent in western Europe and Asia, and by 7 per cent in Latin America, but declined elsewhere.
Egypt has shown the highest increase in recorded cases of HIV since 2010, up by 196 per cent.
Access to HIV testing, treatment and care in the region is well below the global average.
Few statistics have been published on the number of cases in the UAE, although a UNAIDS report said 1.5 per cent of the prison population has the virus.
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
