Cricket isn’t my game, I waste far too much time on football.
But with hindsight I should have accepted an invitation from FTI Consulting, the PR firm (sorry, global communications consultancy) to attend a cricket-themed dinner at the DIFC Ritz-Carlton in Dubai last week.
What was billed as a gentlemanly evening of discussion about the game turned into an international media storm concerning one of its more colourful characters, the former England player Kevin Pietersen, fired by the team after a disastrous tour of Australia recently, and the team’s current wicketkeeper, Matt Prior.
John Hobday, the managing director of FTI in the region, was the master of ceremonies at the event, which I’m told was well attended by about 100 people, including several journalists.
There was a Q&A session, with Prior open to questions from the floor. “He was generally extremely complimentary about Pietersen, saying the row about his sacking was now over and it was time for English cricket to move on. All quite genuine stuff,” says Mr Hobday.
But then came came the crunch question: “Is the English dressing room a better place without Pietersen?” Prior was asked. “Yes,” was the first word of the response.
A wire journalist in the room tweeted it, and in no time it was all over the sports pages of the British media. Piers Morgan, the TV presenter himself recently dropped from his American talk show and a notable friend of Pietersen, got in on the act with some pointed tweets.
Even the Australian press, keen to rub salt into the wounds, joined in, depicting a vicious verbal duel between the two ‘poms’ (who, it should be said, are probably the best of friends).
Mr Hobday was surprised at the furore, but quietly pleased about the publicity he (and his firm) got. “I always wanted to have a massive impact on English cricket. I just wanted it to be with a bat and ball, rather than by hosting a Q&A,” he says.
xxxxx
I made my first proper trip down to Al Maryah Island in Abu Dhabi earlier this week. I was on the island once before, when it was a building site, and watched the skyline grow on journeys along Sheikh Khalifa Highway.
But I wasn’t really prepared for the sheer scale of the project, and when I saw it up close I was gobsmacked by the size and ambition. It really is a stunning development, with enough vacant space to attract a sizeable army of investment bankers, financiers, asset managers and lawyers when the Abu Dhabi Global Market is up and running, some time in the next year or so.
The financial classes need first-class office space and good off-duty facilities. The Galleria in Sowwah Square, at Al Maryah’s centre, will provide some of the latter, with an array of the usual glittering retail outlets already opened there. Two five-star hotels, the Rosewood and the Four Seasons, will help supply some of what the “masters of the universe” regard as the basic necessities.
Judging by the experience of Dubai’s DIFC, the other essential ingredient for a financial free zone is a branch of Zuma, the classy sushi-fusion restaurant.
This week, the bankers got just that when Zuma opened in Sowwah under the sway of the restaurant’s Middle East managing director, Ajaz Sheikh.
Mr Sheikh says he has been looking for a venue for an AD branch of Zuma for the past couple of years, and Sowwah Square fits the bill perfectly.
“You know you have a target audience, you can’t really go wrong,” Mr Sheikh told Caterer MiddleEast.
fkane@thenational.ae
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Business Insights
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Thanksgiving meals to try
World Cut Steakhouse, Habtoor Palace Hotel, Dubai. On Thursday evening, head chef Diego Solis will be serving a high-end sounding four-course meal that features chestnut veloute with smoked duck breast, turkey roulade accompanied by winter vegetables and foie gras and pecan pie, cranberry compote and popcorn ice cream.
Jones the Grocer, various locations across the UAE. Jones’s take-home holiday menu delivers on the favourites: whole roast turkeys, an array of accompaniments (duck fat roast potatoes, sausages wrapped in beef bacon, honey-glazed parsnips and carrots) and more, as well as festive food platters, canapes and both apple and pumpkin pies.
Ruth’s Chris Steakhouse, The Address Hotel, Dubai. This New Orleans-style restaurant is keen to take the stress out of entertaining, so until December 25 you can order a full seasonal meal from its Takeaway Turkey Feast menu, which features turkey, homemade gravy and a selection of sides – think green beans with almond flakes, roasted Brussels sprouts, sweet potato casserole and bread stuffing – to pick up and eat at home.
The Mattar Farm Kitchen, Dubai. From now until Christmas, Hattem Mattar and his team will be producing game- changing smoked turkeys that you can enjoy at home over the festive period.
Nolu’s, The Galleria Mall, Maryah Island Abu Dhabi. With much of the menu focused on a California inspired “farm to table” approach (with Afghani influence), it only seems right that Nolu’s will be serving their take on the Thanksgiving spread, with a brunch at the Downtown location from 12pm to 4pm on Friday.
RESULTS
%3Cp%3E%0D%3Cstrong%3E5pm%3A%20%3C%2Fstrong%3EWathba%20Stallions%20Cup%20%E2%80%93%20Handicap%20(PA)%20Dh70%2C000%20(Turf)%202%2C200m%0D%3Cbr%3E%3Cstrong%3EWinner%3A%20%3C%2Fstrong%3EAl%20Hazeez%2C%20Saif%20Al%20Balushi%20(jockey)%2C%20Khalifa%20Al%20Neyadi%20(trainer)%0D%3Cbr%3E%3Cstrong%3E5.30pm%3A%20%3C%2Fstrong%3EShams%20Gate%20Tower%20%E2%80%93%20Maiden%20(PA)%20Dh80%2C000%20(T)%201%2C200m%0D%3Cbr%3E%3Cstrong%3EWinner%3A%3C%2Fstrong%3E%20ES%20Sudani%2C%20Antonio%20Fresu%2C%20Hamad%20Al%20Marar%0D%3Cbr%3E%3Cstrong%3E6pm%3A%3C%2Fstrong%3E%20Al%20Bahr%20Towers%20%E2%80%93%20Handicap%20(PA)%20Dh80%2C000%20(T)%201%2C200m%0D%3Cbr%3E%3Cstrong%3EWinner%3A%3C%2Fstrong%3E%20AF%20Musannef%2C%20Tadhg%20O%E2%80%99Shea%2C%20Ernst%20Oertel%0D%3Cbr%3E%3Cstrong%3E6.30pm%3A%3C%2Fstrong%3E%20Capital%20Gate%20%E2%80%93%20Maiden%20(PA)%20Dh80%2C000%20(T)%201%2C600m%0D%3Cbr%3E%3Cstrong%3EWinner%3A%3C%2Fstrong%3E%20Shugga'A%20Baynounah%2C%20Dane%20O%E2%80%99Neill%2C%20Nisren%20Mahgoub%0D%3Cbr%3E%3Cstrong%3E7pm%3A%20%3C%2Fstrong%3EEtihad%20Towers%20%E2%80%93%20Conditions%20(PA)%20Dh80%2C000%20(T)%201%2C600m%0D%3Cbr%3E%3Cstrong%3EWinner%3A%20%3C%2Fstrong%3EAF%20Maqam%2C%20Tadhg%20O%E2%80%99Shea%2C%20Ernst%20Oertel%0D%3Cbr%3E%3Cstrong%3E7.30pm%3A%3C%2Fstrong%3E%20Fairmont%20Marina%20%E2%80%93%20Maiden%20(TB)%20Dh80%2C000%20(T)%201%2C600m%0D%3Cbr%3E%3Cstrong%3EWinner%3A%20%3C%2Fstrong%3ETempesta%20D'Oro%2C%20Xavier%20Ziani%2C%20Salem%20bin%20Ghadayer%3C%2Fp%3E%0A
COMPANY%20PROFILE%20
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EAlmouneer%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202017%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Dr%20Noha%20Khater%20and%20Rania%20Kadry%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EEgypt%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%20%3C%2Fstrong%3E120%3Cbr%3E%3Cstrong%3EInvestment%3A%20%3C%2Fstrong%3EBootstrapped%2C%20with%20support%20from%20Insead%20and%20Egyptian%20government%2C%20seed%20round%20of%20%3Cbr%3E%243.6%20million%20led%20by%20Global%20Ventures%3Cbr%3E%3C%2Fp%3E%0A
Tottenham's 10 biggest transfers (according to transfermarkt.com):
1). Moussa Sissokho - Newcastle United - £30 million (Dh143m): Flop
2). Roberto Soldado - Valencia - £25m: Flop
3). Erik Lamela - Roma - £25m: Jury still out
4). Son Heung-min - Bayer Leverkusen - £25m: Success
5). Darren Bent - Charlton Athletic - £21m: Flop
6). Vincent Janssen - AZ Alkmaar - £18m: Flop
7). David Bentley - Blackburn Rovers - £18m: Flop
8). Luka Modric - Dynamo Zagreb - £17m: Success
9). Paulinho - Corinthians - £16m: Flop
10). Mousa Dembele - Fulham - £16m: Success
WISH
%3Cp%3E%3Cstrong%3EDirectors%3A%3C%2Fstrong%3E%20Chris%20Buck%2C%20Fawn%20Veerasunthorn%3Cbr%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Ariana%20DeBose%2C%20Chris%20Pine%2C%20Alan%20Tudyk%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203.5%2F5%3C%2Fp%3E%0A
Sui Dhaaga: Made in India
Director: Sharat Katariya
Starring: Varun Dhawan, Anushka Sharma, Raghubir Yadav
3.5/5
Getting%20there%20
%3Cp%3E%3Ca%20href%3D%22https%3A%2F%2Fwww.thenationalnews.com%2Ftravel%2F2023%2F01%2F12%2Fwhat-does-it-take-to-be-cabin-crew-at-one-of-the-worlds-best-airlines-in-2023%2F%22%20target%3D%22_self%22%3EEtihad%20Airways%20%3C%2Fa%3Eflies%20daily%20to%20the%20Maldives%20from%20Abu%20Dhabi.%20The%20journey%20takes%20four%20hours%20and%20return%20fares%20start%20from%20Dh3%2C995.%20Opt%20for%20the%203am%20flight%20and%20you%E2%80%99ll%20land%20at%206am%2C%20giving%20you%20the%20entire%20day%20to%20adjust%20to%20island%20time.%20%C2%A0%3C%2Fp%3E%0A%3Cp%3ERound%20trip%20speedboat%20transfers%20to%20the%20resort%20are%20bookable%20via%20Anantara%20and%20cost%20%24265%20per%20person.%20%C2%A0%3C%2Fp%3E%0A
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%3A%3C%2Fstrong%3E%20Eco%20Way%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20December%202023%3Cbr%3E%3Cstrong%3EFounder%3A%3C%2Fstrong%3E%20Ivan%20Kroshnyi%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%2C%20UAE%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Electric%20vehicles%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Bootstrapped%20with%20undisclosed%20funding.%20Looking%20to%20raise%20funds%20from%20outside%3Cbr%3E%3C%2Fp%3E%0A
Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
SERIE A FIXTURES
Saturday (All UAE kick-off times)
Cagliari v AC Milan (6pm)
Lazio v Napoli (9pm)
Inter Milan v Atalanta (11.45pm)
Sunday
Udinese v Sassuolo (3.30pm)
Sampdoria v Brescia (6pm)
Fiorentina v SPAL (6pm)
Torino v Bologna (6pm)
Verona v Genoa (9pm)
Roma V Juventus (11.45pm)
Parma v Lecce (11.45pm)
UAE currency: the story behind the money in your pockets
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
Company%20Profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Hoopla%3Cbr%3E%3Cstrong%3EDate%20started%3A%20%3C%2Fstrong%3EMarch%202023%3Cbr%3E%3Cstrong%3EFounder%3A%3C%2Fstrong%3E%20Jacqueline%20Perrottet%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%3C%2Fstrong%3E%2010%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3EPre-seed%3Cbr%3E%3Cstrong%3EInvestment%20required%3A%3C%2Fstrong%3E%20%24500%2C000%3C%2Fp%3E%0A
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
UAE currency: the story behind the money in your pockets
Nayanthara: Beyond The Fairy Tale
Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni
Director: Amith Krishnan
Rating: 3.5/5
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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.”
Company profile
Name: Fruitful Day
Founders: Marie-Christine Luijckx, Lyla Dalal AlRawi, Lindsey Fournie
Based: Dubai, UAE
Founded: 2015
Number of employees: 30
Sector: F&B
Funding so far: Dh3 million
Future funding plans: None at present
Future markets: Saudi Arabia, potentially Kuwait and other GCC countries
How to help
Send “thenational” to the following numbers or call the hotline on: 0502955999
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Call of Duty: Black Ops 6
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Publisher: Activision
Console: PlayStation 4 & 5, Windows, Xbox One & Series X/S
Rating: 3.5/5
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If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.