Etisalat to launch 3D-TV service

Etisalat will this week announce a 3D-TV feature for customers of its E-Vision internet television service. A source close to the UAE telecommunications company said the new 3D service would require a special television set. He hinted, but would not confirm, that the 3D services would include coverage of the FIFA World Cup. The source did not say when the new service would launch.

Etisalat's E-Vision customers have access to Al Jazeera Sport channels, which will broadcast the World Cup from June 11 to July 11 in conjunction with FIFA. Al Jazeera, which has the exclusive rights to broadcast the games in the region, is showing some of the games in 3D, according to press reports. Despite the FIFA World Cup starting in just 11 days, it is only just becoming clear how many UAE residents will be able to watch the games.

Subscribers to TV services run by du, Etisalat's rival, have only just been told they will have access to the Al Jazeera Sport channel, but they still do not know how much it will cost to watch. "We are committed to [showing the World Cup], but we haven't announced the plans yet," a du spokesman said. The spokesman said he could not confirm whether du customers would also be given access to the 3D channels.

Nick Grande, the managing director of ChannelSculptor, a Dubai-based television consultancy, said that 3D broadcasts were slowly emerging in other markets, but doubted its long-term appeal. "It is really, really early days. I think Sky [in the UK] has approached it more from a marketing point of view. I see [the appeal of 3D TV] for shorter bursts of viewing, which naturally works better in public venues," he said.

Mr Grande added that health fears over the 3D technology could put some consumers off. bflanagan@thenational.ae

Quick facts on cancer

Cancer is the second-leading cause of death worldwide, after cardiovascular diseases
About one in five men and one in six women will develop cancer in their lifetime
By 2040, global cancer cases are on track to reach 30 million
70 per cent of cancer deaths occur in low and middle-income countries
This rate is expected to increase to 75 per cent by 2030
At least one third of common cancers are preventable
Genetic mutations play a role in 5 per cent to 10 per cent of cancers
Up to 3.7 million lives could be saved annually by implementing the right health
strategies
The total annual economic cost of cancer is $1.16 trillion

Groom and Two Brides

Director: Elie Semaan

Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

Skoda Superb Specs

Engine: 2-litre TSI petrol

Power: 190hp

Torque: 320Nm

Price: From Dh147,000

Available: Now

Dust and sand storms compared

Sand storm

Particle size: Larger, heavier sand grains
Visibility: Often dramatic with thick "walls" of sand
Duration: Short-lived, typically localised
Travel distance: Limited
Source: Open desert areas with strong winds

Dust storm

Particle size: Much finer, lightweight particles
Visibility: Hazy skies but less intense
Duration: Can linger for days
Travel distance: Long-range, up to thousands of kilometres
Source: Can be carried from distant regions

UK’s AI plan

AI ambassadors such as MIT economist Simon Johnson, Monzo cofounder Tom Blomfield and Google DeepMind’s Raia Hadsell
£10bn AI growth zone in South Wales to create 5,000 jobs
£100m of government support for startups building AI hardware products
£250m to train new AI models

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.”

From Zero

Artist: Linkin Park

Label: Warner Records

Number of tracks: 11

Rating: 4/5

Citadel: Honey Bunny first episode

Directors: Raj & DK

Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon

Rating: 4/5

2.0

Director: S Shankar

Producer: Lyca Productions; presented by Dharma Films

Cast: Rajnikanth, Akshay Kumar, Amy Jackson, Sudhanshu Pandey

Rating: 3.5/5 stars

Other workplace saving schemes

The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.