Takanobu Ito, the president of Honda, with the new Asimo robot at a press conference in Japan yesterday. Haruyoshi Yamaguchi / Bloomberg News
Takanobu Ito, the president of Honda, with the new Asimo robot at a press conference in Japan yesterday. Haruyoshi Yamaguchi / Bloomberg News
Takanobu Ito, the president of Honda, with the new Asimo robot at a press conference in Japan yesterday. Haruyoshi Yamaguchi / Bloomberg News
Takanobu Ito, the president of Honda, with the new Asimo robot at a press conference in Japan yesterday. Haruyoshi Yamaguchi / Bloomberg News

Asimo to test its mettle at Dubai show


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The next generation of Asimo, Honda's human-shaped robot, was unveiled yesterday in Tokyo, and the car manufacturer expects it to steal attention from the fast cars and super bikes at this year's motor expo.

"It's a further evolution of Asimo, so it's fantastic the robot is in Dubai," said William De Braekeleer, the head of public relations for Honda Europe.

"There are two main goals for Asimo. One is to have a robot that is able to operate in a human environment, and the other is to develop technology that can be applied to our other products," he said.

This version of Asimo, which stands for Advanced Step in Innovative Mobility, boasts nimbler fingers. It can also run faster and balance on uneven surfaces.

The robot can also predict the direction a person will walk within the next few seconds based on pre-set space sensors, then quickly take an alternative path to avoid a collision.

Takanobu Ito, the Honda president, said yesterday that some of Asimo's technology was used to develop a robotic arm that could be used to help clean up the Fukushima nuclear plant damaged by the earthquake and tsunami in March. But Asimo itself would not be used at the Fukushima plant because it would be damaged by radiation.

Honda aims ultimately to build a robot that can be used for everyday purposes in the home and perform other tasks that are dangerous to humans, such as fighting fires or cleaning up toxic spills.

In a demonstration yesterday, Asimo was able to walk over bumps on the floor and run at 9kph, faster than the previous 6kph. Honda does not disclose how much it invests in developing Asimo, but the company spends 5 per cent of its turnover each year on research across all products.

"It's an ongoing research project and the steps Asimo has taken in greater autonomy and physical capabilities is exactly what we are producing on our show in Dubai," Mr De Braekeleer said.

Having first travelled to the Emirates in 2005, Asimo will be on show for the five-day Dubai motor show running from tomorrow until November 14 at the Dubai International Convention and Exhibition Centre.

It will be kicking footballs, dancing and independently collecting drinks from waiters at the show.

Asimo's appearance is perfectly timed to give a boost to the reputation of Al-Futtaim Honda, the exclusive distributor of the brand in the UAE.

Honda sales have stuttered this year after weak supply in the wake of the Japanese disaster and two product recalls, first for the Civic, then for the Accord. The brand has only about 65 per cent of its usual supply in the UAE.

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While you're here
Monster

Directed by: Anthony Mandler

Starring: Kelvin Harrison Jr., John David Washington 

3/5

 

The candidates

Dr Ayham Ammora, scientist and business executive

Ali Azeem, business leader

Tony Booth, professor of education

Lord Browne, former BP chief executive

Dr Mohamed El-Erian, economist

Professor Wyn Evans, astrophysicist

Dr Mark Mann, scientist

Gina MIller, anti-Brexit campaigner

Lord Smith, former Cabinet minister

Sandi Toksvig, broadcaster

 

England v South Africa schedule
  • First Test: Starts Thursday, Lord's, 2pm (UAE)
  • Second Test: July 14-18, Trent Bridge, Nottingham, 2pm
  • Third Test: The Oval, London, July 27-31, 2pm
  • Fourth Test: Old Trafford, Manchester, August 4-8
Five expert hiking tips
    Always check the weather forecast before setting off Make sure you have plenty of water Set off early to avoid sudden weather changes in the afternoon Wear appropriate clothing and footwear Take your litter home with you

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

The flights

Air Astana flies direct from Dubai to Almaty from Dh2,440 per person return, and to Astana (via Almaty) from Dh2,930 return, both including taxes. 

The hotels

Rooms at the Ritz-Carlton Almaty cost from Dh1,944 per night including taxes; and in Astana the new Ritz-Carlton Astana (www.marriott) costs from Dh1,325; alternatively, the new St Regis Astana costs from Dh1,458 per night including taxes. 

When to visit

March-May and September-November

Visas

Citizens of many countries, including the UAE do not need a visa to enter Kazakhstan for up to 30 days. Contact the nearest Kazakhstan embassy or consulate.

Director: Laxman Utekar

Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna

Rating: 1/5

UAE currency: the story behind the money in your pockets