• Visitor numbers have surged as the world's fair entered its final week, with more than 1.8 million visits in one week. All photos: Chris Whiteoak / The National
    Visitor numbers have surged as the world's fair entered its final week, with more than 1.8 million visits in one week. All photos: Chris Whiteoak / The National
  • Children make a splash at Expo 2020 Dubai.
    Children make a splash at Expo 2020 Dubai.
  • Visitors record footage of Expo attractions as souvenirs of the event.
    Visitors record footage of Expo attractions as souvenirs of the event.
  • Crowds gather to enjoy one of the final Fridays at Expo 2020 Dubai. With a week to go, more than 20 million visits had been recorded.
    Crowds gather to enjoy one of the final Fridays at Expo 2020 Dubai. With a week to go, more than 20 million visits had been recorded.
  • The world's fair offers something for visitors of all ages, say organisers.
    The world's fair offers something for visitors of all ages, say organisers.
  • The spectacular Saudi Arabia pavilion has been a top attraction throughout the Expo's six-month run.
    The spectacular Saudi Arabia pavilion has been a top attraction throughout the Expo's six-month run.
  • With the surge in visit numbers, organisers believe the final tally will be close to the original 25 million target.
    With the surge in visit numbers, organisers believe the final tally will be close to the original 25 million target.
  • Visitors line up to visit the Palestine pavilion.
    Visitors line up to visit the Palestine pavilion.
  • Expo visitors explore the site and enjoy the atmosphere.
    Expo visitors explore the site and enjoy the atmosphere.
  • The German pavilion has been one of the most popular at Expo 2020 Dubai.
    The German pavilion has been one of the most popular at Expo 2020 Dubai.
  • Expo 2020 Dubai is the place to be and to be seen.
    Expo 2020 Dubai is the place to be and to be seen.
  • Visitors enjoy a day out at Expo 2020 Dubai.
    Visitors enjoy a day out at Expo 2020 Dubai.
  • Young Expo visitors make racing cars at the Family Place.
    Young Expo visitors make racing cars at the Family Place.
  • A family having fun at the Expo.
    A family having fun at the Expo.
  • Party time at the world's fair on Friday. Special events have been lined up before Expo 2020 Dubai ends on March 31.
    Party time at the world's fair on Friday. Special events have been lined up before Expo 2020 Dubai ends on March 31.

Expo 2020 Dubai accelerates recovery of UAE's aviation, tourism and hotel sectors


Deena Kamel
  • English
  • Arabic

Expo 2020 has accelerated recovery of the UAE's tourism, aviation and hospitality sectors from the pandemic, helped by the country's effective management of Covid-19 and by easing travel restrictions globally.

Leisure and business travel, hotel occupancy rates, room revenue and footfall at shopping malls improved because of the influx of tourists drawn to the six-month mega event ending March 31, analysts said.

Emirates, Dubai's home airline, recorded healthy seat load factors and strong travel demand to the emirate across its network during Expo, Sheikh Ahmed bin Saeed Al Maktoum, Emirates group chairman and chief executive, told The National.

"This is due to a combination of factors, including the UAE’s successful management of Covid-19, which was critical to many countries quickly easing travel restrictions to and from Dubai and building traveller confidence," he said. "Interestingly, Emirates has noted an increase in first-time visitors to Dubai among our customers during the past months, which shows the pull of Expo 2020 and strong traveller interest in Dubai."

Dubai International Airport, the world's busiest international airport and Emirates' base, recorded in 2021 its busiest fourth quarter since the pandemic, with Expo being one of the key contributors to passenger traffic of 11.8 million.

During the Expo, Emirates recorded healthy seat load factors and strong demand for travel to Dubai across our network
Sheikh Ahmed bin Saeed Al Maktoum,
Emirates group chairman and chief executive

"It highlighted the UAE’s and Dubai’s exemplary handling of the pandemic while underscoring Dubai’s emergence as a global destination of choice for hosting major international events," said Paul Griffiths, chief executive of operator Dubai Airports. "The event contributed greatly to the overall social and economic recovery within and outside the UAE and benefited the local tourism, hospitality and travel sectors, helping them consolidate their growth."

Expo 2020, one of the world's biggest in-person events since the pandemic, is nearing 21 million visits, with organisers expecting visit numbers to surge further in the final days of the event, inching towards a pre-pandemic target of 25 million. About 30 per cent of the total Expo visitor numbers have been from overseas.

During the week ending March 12, the UAE hotel occupancy rate of 85 per cent was the highest in the world, as it has been over the past four weeks, compared with a global rate of 50.8 per cent, according to the latest report from hospitality analytics provider STR.

'Remarkable' tourism rebound

"The impact of Expo 2020 can be felt reverberating throughout the city – not just in the remarkable tourism rebound – but also in generating numerous business and investment opportunities," Issam Kazim, chief executive of Dubai Corporation for Tourism & Commerce Marketing (DTCM), told The National. "Since Expo 2020 opened on October 1, 2021, Dubai has witnessed a boost in business and leisure tourism, contributing to the exceptional tourism performance the city experienced during the 12 months of 2021."

International visitors to the emirate passed 3.4 million in the fourth quarter of 2021, when Expo was in full swing, representing 74 per cent of the total pre-pandemic tourist arrivals in the same period in 2019. Dubai hosted 7.28 million international overnight visitors between January and December 2021.

"As the first global mega event open to the public since the onset of the pandemic, Expo 2020 established a new precedent for World Expos," Mr Kazim said. The event built an important legacy for the UAE and the Middle East, North Africa, and South Asia region, he said.

Dubai, the Middle East's travel, trade and finance hub known for its glitzy hotels, sprawling shopping malls and swanky restaurants, relied on the tourism industry for 11.6 per cent of its GDP in 2019.

Hotels record higher and consistent demand

The $7 billion world fair kept UAE hotels busy from October to March.

Abu Dhabi-based hotel operator Rotana recorded substantial growth in RevPar during these six months across the UAE, exceeding pre-pandemic levels, Guy Hutchinson, president and chief executive of Rotana, told The National.

"Expo came at a perfect time to reaffirm Dubai’s position as a safe, Covid-protected and well-managed travel destination, and ignited global and regional demand for the UAE when pent-up travel demand was at a peak," he said.

Dubai hotels' performance metrics have "consistently remained high" from October to date, recording strong demand and a "noticeable rise" in average daily rates, said Kostas Nikolaidis, STR’s account executive for Middle East and Africa.

While demand in most big cities fluctuates during the week as the business and leisure mix changes, Expo 2020 provided elevated and consistent demand throughout the entire week since the world trade fair started, he said.

"That has been hard to achieve pre-Expo and even pre-Covid during the best of times," Mr Nikolaidis said.

Dubai hotels' performance exceeded expectations, particularly during the first and final months of the event, with average daily room rates nearing Dh1,000 in October, he said.

"Expo 2020 will always be a case study of an event and a destination that delivered on point – and all that during a global pandemic too," Mr Nikolaidis said.

The 131,745 hotel rooms sold on February 24 is a record high for Dubai, underscoring the magnitude of the event, and could yet be broken again in the days until March-end, according to STR.

"Being able to sell all these rooms and reach high occupancies with expanded room inventory is a big achievement," Mr Nikolaidis said. Since 2019, about 16,487 additional rooms came to market with several new hotel openings.

Hosting Expo has provided a "vital boost" for the tourism and aviation sectors, building on the recovery supported by strong management of the pandemic and global easing of travel restrictions, said Monica Malik, chief economist at Abu Dhabi Commercial Bank.

"The tourism, hospitality and aviation sectors saw robust activity in early 2022 with the further easing of international restrictions and strong pent-up demand," she said. "However, global challenges have increased, which is likely to provide headwinds for these areas."

  • The UAE pavilion at Expo 2020 Dubai. Victor Besa / The National
    The UAE pavilion at Expo 2020 Dubai. Victor Besa / The National
  • View from the Garden in the Sky at Expo 2020. Antonie Robertson / The National
    View from the Garden in the Sky at Expo 2020. Antonie Robertson / The National
  • Cristiano Ronaldo taking a selfie with fans after a Q&A session for Expo’s Health and Wellness Week at the Al Wasl Plaza. Pawan Singh / The National
    Cristiano Ronaldo taking a selfie with fans after a Q&A session for Expo’s Health and Wellness Week at the Al Wasl Plaza. Pawan Singh / The National
  • A young guest enjoys the spectacular light show at Al Wasl Plaza. Victor Besa / The National
    A young guest enjoys the spectacular light show at Al Wasl Plaza. Victor Besa / The National
  • The flowing contours of the UAE pavilion. Victor Besa / The National
    The flowing contours of the UAE pavilion. Victor Besa / The National
  • Visitors follow a foggy path to the summit of the Swiss pavilion. Pawan Singh / The National
    Visitors follow a foggy path to the summit of the Swiss pavilion. Pawan Singh / The National
  • Infinite Nights: Coldplay perform at Expo. Photo: Expo 2020 Dubai
    Infinite Nights: Coldplay perform at Expo. Photo: Expo 2020 Dubai
  • Tricolours to the fore as France marks its Expo celebration day. Chris Whiteoak / The National
    Tricolours to the fore as France marks its Expo celebration day. Chris Whiteoak / The National
  • The Saudi pavilion lit up at night. Chris Whiteoak / The National
    The Saudi pavilion lit up at night. Chris Whiteoak / The National
  • The French pavilion features a projection of 'The Rose', a 13th-century stained-glass window from Notre Dame cathedral in Paris. Chris Whiteoak / The National
    The French pavilion features a projection of 'The Rose', a 13th-century stained-glass window from Notre Dame cathedral in Paris. Chris Whiteoak / The National
  • Dubai opened Expo 2020 with a dazzling ceremony featuring fireworks and light displays. AFP
    Dubai opened Expo 2020 with a dazzling ceremony featuring fireworks and light displays. AFP
  • A young visitor checks out the Expo's popular water feature. Pawan Singh / The National
    A young visitor checks out the Expo's popular water feature. Pawan Singh / The National
  • Students from Abu Dhabi Police Academy at Al Wasl Plaza. Pawan Singh / The National
    Students from Abu Dhabi Police Academy at Al Wasl Plaza. Pawan Singh / The National
  • Aerial view of a calligraphy bench. Photo: Expo 2020 Dubai
    Aerial view of a calligraphy bench. Photo: Expo 2020 Dubai
  • A visitor takes a picture of the spectacular Mobility Pavilion. Chris Whiteoak / The National
    A visitor takes a picture of the spectacular Mobility Pavilion. Chris Whiteoak / The National
  • Aerial view of Luxembourg's pavilion. Photo: Expo 2020 Dubai
    Aerial view of Luxembourg's pavilion. Photo: Expo 2020 Dubai
  • An aerobatics team pass above the Pakistan pavilion. Khushnum Bhandari / The National
    An aerobatics team pass above the Pakistan pavilion. Khushnum Bhandari / The National
  • Inside the Malaysia pavilion. Pawan Singh / The National
    Inside the Malaysia pavilion. Pawan Singh / The National
  • The Al Wasl dome is displayed with different faces at the Police Academy Graduation in celebration of the country's 50th anniversary. Ruel Pableo / The National
    The Al Wasl dome is displayed with different faces at the Police Academy Graduation in celebration of the country's 50th anniversary. Ruel Pableo / The National
  • A young visitor stands in front of 'Fluidum', a kinetic statue made up of 85 robotically controlled mirrors, representing a vertical water surface, at the Czech pavilion. Khushnum Bhandari / The National
    A young visitor stands in front of 'Fluidum', a kinetic statue made up of 85 robotically controlled mirrors, representing a vertical water surface, at the Czech pavilion. Khushnum Bhandari / The National
  • The Mare and the Foal sculpture outside Alif - The Mobility Pavilion. Photo: Expo 2020 Dubai
    The Mare and the Foal sculpture outside Alif - The Mobility Pavilion. Photo: Expo 2020 Dubai
  • Night view of Terra - The Sustainability Pavilion. Photo: Expo 2020 Dubai
    Night view of Terra - The Sustainability Pavilion. Photo: Expo 2020 Dubai
  • The Women's Pavilion by Cartier. Antonie Robertson / The National
    The Women's Pavilion by Cartier. Antonie Robertson / The National
  • Exterior detail of Kazakhstan's pavilion. Photo: Expo 2020 Dubai
    Exterior detail of Kazakhstan's pavilion. Photo: Expo 2020 Dubai
  • A school group inside the UAE pavilion holding Expo passports. Photo: Expo 2020 Dubai
    A school group inside the UAE pavilion holding Expo passports. Photo: Expo 2020 Dubai
  • The Water Feature. Photo: Expo 2020 Dubai
    The Water Feature. Photo: Expo 2020 Dubai
  • Al Wasl on a foggy morning. Photo: Expo 2020 Dubai
    Al Wasl on a foggy morning. Photo: Expo 2020 Dubai
  • Visitors at the Montenegro pavilion. Photo: Expo 2020 Dubai
    Visitors at the Montenegro pavilion. Photo: Expo 2020 Dubai
  • The Kuwait pavilion. Photo: Expo 2020 Dubai
    The Kuwait pavilion. Photo: Expo 2020 Dubai
  • Artists performing during the UAE’s 50th National Day celebration at the Al Wasl plaza. Pawan Singh / The National
    Artists performing during the UAE’s 50th National Day celebration at the Al Wasl plaza. Pawan Singh / The National
  • A visitor inside the ‘Gorge’ at Finland's pavilion. Photo: Expo 2020 Dubai
    A visitor inside the ‘Gorge’ at Finland's pavilion. Photo: Expo 2020 Dubai
  • Fireworks seen from The Mobility Portal. Photo: Expo 2020 Dubai
    Fireworks seen from The Mobility Portal. Photo: Expo 2020 Dubai
  • The opening ceremony. Photo: Expo 2020 Dubai
    The opening ceremony. Photo: Expo 2020 Dubai
  • Exterior of the Poland pavilion. Photo: Expo 2020 Dubai
    Exterior of the Poland pavilion. Photo: Expo 2020 Dubai
  • Infinite Nights: Alicia Keys at Al Wasl. Photo: Expo 2020 Dubai
    Infinite Nights: Alicia Keys at Al Wasl. Photo: Expo 2020 Dubai
  • The UK pavilion. Photo: Expo 2020 Dubai
    The UK pavilion. Photo: Expo 2020 Dubai
  • The Singapore pavilion. Photo: Expo 2020 Dubai
    The Singapore pavilion. Photo: Expo 2020 Dubai
  • The Bahrain pavilion. Pawan Singh / The National
    The Bahrain pavilion. Pawan Singh / The National
  • The Saudi Arabia pavilion. Photo: Expo 2020 Dubai
    The Saudi Arabia pavilion. Photo: Expo 2020 Dubai
  • Opening ceremony dress rehearsal. Photo: Expo 2020 Dubai
    Opening ceremony dress rehearsal. Photo: Expo 2020 Dubai
  • Firework display during UAE National Day and the Golden Jubilee celebrations. Photo: Expo 2020 Dubai
    Firework display during UAE National Day and the Golden Jubilee celebrations. Photo: Expo 2020 Dubai
  • Aerial view of the UK pavilion. Photo: Expo 2020 Dubai
    Aerial view of the UK pavilion. Photo: Expo 2020 Dubai
  • The Russia pavilion. Photo: Expo 2020 Dubai
    The Russia pavilion. Photo: Expo 2020 Dubai
  • The Monaco pavilion. The entrance is based on a kaleidoscope. Chris Whiteoak / The National
    The Monaco pavilion. The entrance is based on a kaleidoscope. Chris Whiteoak / The National
  • The installation celebrating the UAE Golden Jubilee at the Mobility Pavilion. Photo: Expo 2020 Dubai
    The installation celebrating the UAE Golden Jubilee at the Mobility Pavilion. Photo: Expo 2020 Dubai
  • The UAE pavilion on a foggy morning. Photo: Expo 2020 Dubai
    The UAE pavilion on a foggy morning. Photo: Expo 2020 Dubai
  • Turkmenistan's pavilion. Photo: Expo 2020 Dubai
    Turkmenistan's pavilion. Photo: Expo 2020 Dubai
  • Visitors outside Switzerland's pavilion. Photo: Expo 2020 Dubai
    Visitors outside Switzerland's pavilion. Photo: Expo 2020 Dubai
  • Junaid Mohammed proposes to Hiba Zubair at the Water Feature. Photo: Expo 2020 Dubai
    Junaid Mohammed proposes to Hiba Zubair at the Water Feature. Photo: Expo 2020 Dubai
  • The US pavilion is reflected in a visitor's sunglasses. Photo: Expo 2020 Dubai
    The US pavilion is reflected in a visitor's sunglasses. Photo: Expo 2020 Dubai

Post-Expo forecast

The boost from Expo 2020 is setting the tone for an optimistic outlook for the rest of the year as the tourism, aviation and hospitality industries seek to build on that momentum, officials, analysts and executives said.

The effects of Covid-19 are easing after a sharp resurgence late last year when the Omicron variant spread globally, but the Russia-Ukraine war may pose challenges for tourism, said Shady Elborno, head of macro strategy at Emirates NBD.

"Geopolitical tensions in Eastern Europe may cause some headwinds to tourist arrivals from that region, [but] given the fluidity of the situation it will be difficult to ascertain the exact impact," he said. "Given Dubai remains geographically isolated from the tensions, the wider trends of global travel recovery are likely to drive growth in tourism from other markets."

After a growth spike during Expo, the hospitality sector in the next few months is forecast to consolidate during Ramadan in April and the traditionally slower summer months, operating near pre-pandemic levels before picking up again in the fourth quarter, Mr Nikolaidis said.

The Fifa World Cup in Qatar in November will boost demand to Doha, but also for the key transit hubs of Dubai and Abu Dhabi, Mr Hutchinson said.

"We've seen our hotels thrive and we remain very optimistic that growth rates will stay strong throughout the year as the UAE continues to lead global recovery in the hospitality industry," he said.

Dubai hotels are forecast to be the busiest in the region this year, with occupancy rates as high as 74 per cent in areas such as Dubai Creek and Festival City, according to Colliers.

The UAE expects more hotel supply to meet future demand, said Helal Al Marri, director general of the Dubai Department of Economy and Tourism. He did not provide forecast figures.

"We see our big challenge is going to be 'can we build enough hotels?' The forecast for demand requires us to do a significant increase in the number of hotels in the UAE. We're going to see a lot in that area," Mr Al Marri said.

For Dubai International Airport, the slower travel month of Ramadan and the closure of the northern runway for upgrades for 45 days starting on May 9, will affect the second quarter of 2022, Mr Griffiths said.

"The outlook for the second quarter, however, remains optimistic thanks to the pent-up demand as well as the return of normal operations in key markets such as India and further easing of travel regulations around the world," he said.

In 2022, Dubai will "build on the impetus provided by Expo 2020 to further accelerate momentum and deliver sustainable economic growth", Mr Kazim said.

UAE currency: the story behind the money in your pockets
The specs

  Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now

THE APPRENTICE

Director: Ali Abbasi

Starring: Sebastian Stan, Maria Bakalova, Jeremy Strong

Rating: 3/5

Coffee: black death or elixir of life?

It is among the greatest health debates of our time; splashed across newspapers with contradicting headlines - is coffee good for you or not?

Depending on what you read, it is either a cancer-causing, sleep-depriving, stomach ulcer-inducing black death or the secret to long life, cutting the chance of stroke, diabetes and cancer.

The latest research - a study of 8,412 people across the UK who each underwent an MRI heart scan - is intended to put to bed (caffeine allowing) conflicting reports of the pros and cons of consumption.

The study, funded by the British Heart Foundation, contradicted previous findings that it stiffens arteries, putting pressure on the heart and increasing the likelihood of a heart attack or stroke, leading to warnings to cut down.

Numerous studies have recognised the benefits of coffee in cutting oral and esophageal cancer, the risk of a stroke and cirrhosis of the liver. 

The benefits are often linked to biologically active compounds including caffeine, flavonoids, lignans, and other polyphenols, which benefit the body. These and othetr coffee compounds regulate genes involved in DNA repair, have anti-inflammatory properties and are associated with lower risk of insulin resistance, which is linked to type-2 diabetes.

But as doctors warn, too much of anything is inadvisable. The British Heart Foundation found the heaviest coffee drinkers in the study were most likely to be men who smoked and drank alcohol regularly.

Excessive amounts of coffee also unsettle the stomach causing or contributing to stomach ulcers. It also stains the teeth over time, hampers absorption of minerals and vitamins like zinc and iron.

It also raises blood pressure, which is largely problematic for people with existing conditions.

So the heaviest drinkers of the black stuff - some in the study had up to 25 cups per day - may want to rein it in.

Rory Reynolds

The Kingfisher Secret
Anonymous, Penguin Books

SPECS
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The specs
Engine: 2.4-litre 4-cylinder

Transmission: CVT auto

Power: 181bhp

Torque: 244Nm

Price: Dh122,900 

The specs: 2018 Maserati Levante S

Price, base / as tested: Dh409,000 / Dh467,000

Engine: 3.0-litre V6

Transmission: Eight-speed automatic

Power: 430hp @ 5,750rpm

Torque: 580Nm @ 4,500rpm

Fuel economy, combined: 10.9L / 100km

The specs

Engine: 2.0-litre four-cylinder turbo

Power: 268hp at 5,600rpm

Torque: 380Nm at 4,800rpm

Transmission: CVT auto

Fuel consumption: 9.5L/100km

On sale: now

Price: from Dh195,000 

Trump v Khan

2016: Feud begins after Khan criticised Trump’s proposed Muslim travel ban to US

2017: Trump criticises Khan’s ‘no reason to be alarmed’ response to London Bridge terror attacks

2019: Trump calls Khan a “stone cold loser” before first state visit

2019: Trump tweets about “Khan’s Londonistan”, calling him “a national disgrace”

2022:  Khan’s office attributes rise in Islamophobic abuse against the major to hostility stoked during Trump’s presidency

July 2025 During a golfing trip to Scotland, Trump calls Khan “a nasty person”

Sept 2025 Trump blames Khan for London’s “stabbings and the dirt and the filth”.

Dec 2025 Trump suggests migrants got Khan elected, calls him a “horrible, vicious, disgusting mayor”

Top Hundred overseas picks

London Spirit: Kieron Pollard, Riley Meredith 

Welsh Fire: Adam Zampa, David Miller, Naseem Shah 

Manchester Originals: Andre Russell, Wanindu Hasaranga, Sean Abbott

Northern Superchargers: Dwayne Bravo, Wahab Riaz

Oval Invincibles: Sunil Narine, Rilee Rossouw

Trent Rockets: Colin Munro

Birmingham Phoenix: Matthew Wade, Kane Richardson

Southern Brave: Quinton de Kock

List of alleged parties

 

May 12, 2020: PM and his wife Carrie attend 'work meeting' with at least 17 staff 

May 20, 2020: They attend 'bring your own booze party'

Nov 27, 2020: PM gives speech at leaving party for his staff 

Dec 10, 2020: Staff party held by then-education secretary Gavin Williamson 

Dec 13, 2020: PM and his wife throw a party

Dec 14, 2020: London mayoral candidate Shaun Bailey holds staff event at Conservative Party headquarters 

Dec 15, 2020: PM takes part in a staff quiz 

Dec 18, 2020: Downing Street Christmas party 

Racecard
%3Cp%3E1.45pm%3A%20Bin%20Dasmal%20Contracting%20Cup%20%E2%80%93%20Maiden%20(PA)%20Dh50%2C000%20(Dirt)%201%2C200m%3Cbr%3E2.15pm%3A%20Al%20Shafar%20Investment%20Cup%20%E2%80%93%20Maiden%20(TB)%20Dh60%2C000%20(D)%201%2C200m%3Cbr%3E2.45pm%3A%202023%20Cup%20by%20Emirates%20sprint%20series%20%E2%80%93%20Handicap%20(TB)%20Dh84%2C000%20(D)%201%2C200m%3Cbr%3E3.15pm%3A%20HIVE%20Cup%20%E2%80%93%20Handicap%20(TB)%20Dh68%2C000%20(D)%201%2C400m%3Cbr%3E3.45pm%3A%20Jebel%20Ali%20Mile%20Prep%20by%20Shadwell%20%E2%80%93%20Conditions%20(TB)%20Dh100%2C000%20(D)%201%2C600m%3Cbr%3E4.15pm%3A%20JARC%20Cup%20%E2%80%93%20Maiden%20(TB)%20Dh60%2C000%20(D)%201%2C600m%3Cbr%3E4.45pm%3A%20Deira%20Cup%20by%20Emirates%20Sprint%20series%20%E2%80%93%20Handicap%20(TB)%20Dh76%2C000%20(D)%201%2C950m%3C%2Fp%3E%0A
Australia World Cup squad

Aaron Finch (capt), Usman Khawaja, David Warner, Steve Smith, Shaun Marsh, Glenn Maxwell, Marcus Stoinis, Alex Carey, Pat Cummins, Mitchell Starc, Jhye Richardson, Nathan Coulter-Nile, Jason Behrendorff, Nathan Lyon, Adam Zampa

UAE currency: the story behind the money in your pockets
Getting%20there%20
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European arms

Known EU weapons transfers to Ukraine since the war began: Germany 1,000 anti-tank weapons and 500 Stinger surface-to-air missiles. Luxembourg 100 NLAW anti-tank weapons, jeeps and 15 military tents as well as air transport capacity. Belgium 2,000 machine guns, 3,800 tons of fuel. Netherlands 200 Stinger missiles. Poland 100 mortars, 8 drones, Javelin anti-tank weapons, Grot assault rifles, munitions. Slovakia 12,000 pieces of artillery ammunition, 10 million litres of fuel, 2.4 million litres of aviation fuel and 2 Bozena de-mining systems. Estonia Javelin anti-tank weapons.  Latvia Stinger surface to air missiles. Czech Republic machine guns, assault rifles, other light weapons and ammunition worth $8.57 million.

SPEC%20SHEET%3A%20APPLE%20IPHONE%2015%20PRO%20MAX
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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.”

if you go

Getting there

Etihad (Etihad.com), Emirates (emirates.com) and Air France (www.airfrance.com) fly to Paris’ Charles de Gaulle Airport, from Abu Dhabi and Dubai respectively. Return flights cost from around Dh3,785. It takes about 40 minutes to get from Paris to Compiègne by train, with return tickets costing €19. The Glade of the Armistice is 6.6km east of the railway station.

Staying there

On a handsome, tree-lined street near the Chateau’s park, La Parenthèse du Rond Royal (laparenthesedurondroyal.com) offers spacious b&b accommodation with thoughtful design touches. Lots of natural woods, old fashioned travelling trunks as decoration and multi-nozzle showers are part of the look, while there are free bikes for those who want to cycle to the glade. Prices start at €120 a night.

More information: musee-armistice-14-18.fr ; compiegne-tourisme.fr; uk.france.fr

The specs: 2018 Nissan 370Z Nismo

The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
​​​​​​​Fuel consumption, combined: 10.5L / 100km

What is an FTO Designation?

FTO designations impose immigration restrictions on members of the organisation simply by virtue of their membership and triggers a criminal prohibition on knowingly providing material support or resources to the designated organisation as well as asset freezes. 

It is a crime for a person in the United States or subject to the jurisdiction of the United States to knowingly provide “material support or resources” to or receive military-type training from or on behalf of a designated FTO.

Representatives and members of a designated FTO, if they are aliens, are inadmissible to and, in certain circumstances removable from, the United States.

Except as authorised by the Secretary of the Treasury, any US financial institution that becomes aware that it has possession of or control over funds in which an FTO or its agent has an interest must retain possession of or control over the funds and report the funds to the Treasury Department.

Source: US Department of State

Zakat definitions

Zakat: an Arabic word meaning ‘to cleanse’ or ‘purification’.

Nisab: the minimum amount that a Muslim must have before being obliged to pay zakat. Traditionally, the nisab threshold was 87.48 grams of gold, or 612.36 grams of silver. The monetary value of the nisab therefore varies by current prices and currencies.

Zakat Al Mal: the ‘cleansing’ of wealth, as one of the five pillars of Islam; a spiritual duty for all Muslims meeting the ‘nisab’ wealth criteria in a lunar year, to pay 2.5 per cent of their wealth in alms to the deserving and needy.

Zakat Al Fitr: a donation to charity given during Ramadan, before Eid Al Fitr, in the form of food. Every adult Muslim who possesses food in excess of the needs of themselves and their family must pay two qadahs (an old measure just over 2 kilograms) of flour, wheat, barley or rice from each person in a household, as a minimum.

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ESSENTIALS

The flights 

Etihad (etihad.com) flies from Abu Dhabi to Mykonos, with a flight change to its partner airline Olympic Air in Athens. Return flights cost from Dh4,105 per person, including taxes. 

Where to stay 

The modern-art-filled Ambassador hotel (myconianambassador.gr) is 15 minutes outside Mykonos Town on a hillside 500 metres from the Platis Gialos Beach, with a bus into town every 30 minutes (a taxi costs €15 [Dh66]). The Nammos and Scorpios beach clubs are a 10- to 20-minute walk (or water-taxi ride) away. All 70 rooms have a large balcony, many with a Jacuzzi, and of the 15 suites, five have a plunge pool. There’s also a private eight-bedroom villa. Double rooms cost from €240 (Dh1,063) including breakfast, out of season, and from €595 (Dh2,636) in July/August.

Updated: March 28, 2022, 5:21 AM