Duck breast with mixed leaf salad available at Jones the Grocer. Courtesy Jones the Grocer
Duck breast with mixed leaf salad available at Jones the Grocer. Courtesy Jones the Grocer
Duck breast with mixed leaf salad available at Jones the Grocer. Courtesy Jones the Grocer
Duck breast with mixed leaf salad available at Jones the Grocer. Courtesy Jones the Grocer

Try new offerings from Jones the Grocer and watch artists create works on-site at Al Ain’s Bawadi Mall

Our daily round-up of things to do in the UAE. Enjoy short, educational movies at the new, immersive Dome Box; watch artists create works on-site at Al Ain’s Bawadi Mall; make plans to watch a live screening of the play Behind the Beautiful Forevers from London’s National Theatre; explore everything needed for the big day at The Address Wedding Fair 2015.

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Try new offerings from Jones the Grocer. Pairing coffee and chocolate for a limited time, the eatery is serving specials such as a pecan nut, jivara chocolate and croissant pudding served with vanilla anglaise for breakfast. For lunch, there's Burundi coffee-cured duck breast with mixed leaf salad or a slightly spicy black bean and dark chocolate soup. Heartier choices include coffee and cumin-marinated lamb rump and chilli con carne with 70 per cent chocolate. Additionally, starting tomorrow, there are coffee workshops covering everything from making to designing and pouring the perfect cup. Workshops cost Dh50, tomorrow's espresso workshop and Saturday's latte art workshop are from 4pm to 5pm at Al Manara, Dubai, 04 346 6886, almanara@jonesthegrocer.com. New dishes available at Jones the Grocer locations in Abu Dhabi and Dubai

Enjoy short, educational movies at the new, immersive Dome Box. The cinema screens four family-friendly animated movies that focus on nature, science and the environment in a 360-degree planetarium-style setting. Current films include The Life of Trees, Adventures into the Deep, Africa and Astronaut. Noon until 10pm from Sundays to Thursdays, noon until midnight on Fridays, Saturdays and public holidays, Dh45 for a two-movie package, The Dome Box, Box Park, Al Wasl Road, Dubai, www.thedomeboxdubai.ae

Watch artists create works on-site at Al Ain's Bawadi Mall. The shopping centre's annual Street Art Festival will also have kora players, hang-drum performances, caricature artists and comedians. Daily until October 3 at Bawadi Mall, Al Ain.

Make plans to watch a live screening of the play Behind the Beautiful Forevers from London's National Theatre, which tells stories from the Mumbai slums. Tomorrow and Saturday, 8pm, Dh100, The Courtyard Playhouse, Dubai, www.courtyardplayhouse.com/whats-on

Explore everything needed for the big day at The Address Wedding Fair 2015. From make-up, flowers and gowns to food and accommodation, the fair will cover pre- and post-wedding festivities. Guests can also enjoy a hand, shoulder or head massage. Today is the last day for couples to upload their photographs on social media under #TheAddressWeddingFair for a chance to win prizes. September 25 and 26, noon to 7pm, The Symphony Ballroom, The Address Downtown Dubai, www.theaddress.com/weddingfair

UAE currency: the story behind the money in your pockets
MATCH INFO

Scotland 59 (Tries: Hastings (2), G Horne (3), Turner, Seymour, Barclay, Kinghorn, McInally; Cons: Hastings 8)

Russia 0

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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Cry Macho

Director: Clint Eastwood

Stars: Clint Eastwood, Dwight Yoakam

Rating:**

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Whiile you're here
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more from justin thomas
Biography

Favourite drink: Must have karak chai and Chinese tea every day

Favourite non-Chinese food: Arabic sweets and Indian puri, small round bread of wheat flour

Favourite Chinese dish: Spicy boiled fish or anything cooked by her mother because of its flavour

Best vacation: Returning home to China

Music interests: Enjoys playing the zheng, a string musical instrument

Enjoys reading: Chinese novels, romantic comedies, reading up on business trends, government policy changes

Favourite book: Chairman Mao Zedong’s poems

While you're here
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 
THE%20FLASH
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Ferrari 12Cilindri specs

Engine: naturally aspirated 6.5-liter V12

Power: 819hp

Torque: 678Nm at 7,250rpm

Price: From Dh1,700,000

Available: Now

Generation Start-up: Awok company profile

Started: 2013

Founder: Ulugbek Yuldashev

Sector: e-commerce

Size: 600 plus

Stage: still in talks with VCs

Principal Investors: self-financed by founder

Company profile

Date started: December 24, 2018

Founders: Omer Gurel, chief executive and co-founder and Edebali Sener, co-founder and chief technology officer

Based: Dubai Media City

Number of employees: 42 (34 in Dubai and a tech team of eight in Ankara, Turkey)

Sector: ConsumerTech and FinTech

Cashflow: Almost $1 million a year

Funding: Series A funding of $2.5m with Series B plans for May 2020

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