I operate in two universes of communication. As a journalist, I cannot do without the AP Stylebook and the Oxford English Dictionary. But after work, I whip out a more commonly used language book that is diminishing the relevance of its sophisticated predecessors in daily discussions: the rapidly expanding Urban Dictionary.
I like to think that I’m gravy noodles (someone really cool) but, in fact, I am a struggling old-schooler trying to get my head around trendy neologisms.
Slang has been around forever and, of late, has been accorded a “get with the times” attitude, which has spread like wildfire across all ages online and, humorously, offline.
Some words are shortened and merged just for convenience, such as fo sho (for sure) and totes (totally). These are pretty much down to common sense, but then you have adorkable, which made its way into the Collins English Dictionary last month. Unless pop culture is your thing, that mash-up (adorable and dork) might be hard to fully comprehend. The dictionary now defines it as an adjective for someone who is socially inept or unfashionable, but in a charming or endearing way. How did it get in? The word was voted for by 30 per cent of the people who took part in the poll. Dictionary editors follow a general rule of thumb when it comes to selecting words for verified usage – it needs to be in high circulation for a decade or a dated word that has been revived in communication.
Their etymologies, however, are hard to determine. It could have emerged in a moment of boredom or creative block, like in the case of "adorkable". The earliest mention of the word, as chronicled by Google, probably goes back to 2001 when a lovestruck blogger titled her page Adorkable. It exploded on the social scene with the American sitcom New Girl, starring the actress Zooey Deschanel. So dork, once a derogatory term, now has a positive spin to it.
And it’s not just new words popping up, but reference books are updating meanings of words based on their usage as well.
I remember purists’ bafflement at the contradictory definition of “literally”, noted by Merriam-Webster last year. The acceptable misuse of the adverb, which now also means “in effect, virtually” – denoting emphasis – was a hot topic of debate for a while. I’m no traditionalist, but am guilty of cringing when I hear sentences such as this one: “I will literally kill him if he does not turn up for dinner on time”, and responding with a “let’s see you do that, literally!”
Some auto-antonyms are hard to follow. I’m still thrown by people saying things such as “My colleague is sick,” where sick is slang for “awesome”.
But I've come to the conclusion that I have to accept most of the lingo out there, or risk missing out on a lot of easy points when playing a game of Scrabble with my friends. I'm thinking of words such as chillax, frenemy and selfie, which were all added to the Official Scrabble Players Dictionary this month, along with about 5,000 others.
aahmed@thenational.ae
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.”
MATCH DETAILS
Manchester United 3
Greenwood (21), Martial (33), Rashford (49)
Partizan Belgrade 0
Springtime in a Broken Mirror,
Mario Benedetti, Penguin Modern Classics
Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
Nayanthara: Beyond The Fairy Tale
Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni
Director: Amith Krishnan
Rating: 3.5/5
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The specs
Engine: 5.0-litre supercharged V8
Transmission: Eight-speed auto
Power: 575bhp
Torque: 700Nm
Price: Dh554,000
On sale: now
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Company%20Profile
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World Cup warm up matches
May 24 Pakistan v Afghanistan, Bristol; Sri Lanka v South Africa, Cardiff
May 25 England v Australia, Southampton; India v New Zealand, The Oval
May 26 South Africa v West Indies, Bristol; Pakistan v Bangladesh, Cardiff
May 27 Australia v Sri Lanka, Southampton; England v Afghanistan, The Oval
May 28 West Indies v New Zealand, Bristol; Bangladesh v India, Cardiff