Misadventures in branding: If it’s not broken, don’t fix it


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  • Arabic

It’s easy to be cynical about rebrandings, and I am. Ever since that great, venerable and eminently tasty brand Guinness became Diageo many years ago, I’ve always sniffed smoke and mirrors, and large bills, in the branding business.

Brands evolve, of course, and the trend used to be towards capital initials. The prestigious Peninsular & Oriental Steam Navigation Company became P&O (now owned by DP World) to reflect post-imperialist reality in the UK.

This is largely acceptable. General Motors is known universally as GM; nobody would think of referring in speech or writing to the British Broadcasting Corporation; International Business Machines sounds archaic in the fast-moving world of computers.

In the Middle East, it's also acceptable I think to Arabicise a name. So Ooredoo, which used to be the phone company QTel in Qatar, looks bizarre to an English eye, but makes perfect sense as the Arabic for "I want"; Abu Dhabi's dull General Holding Corporation exudes new wisdom under its new name Senaat (plain old "industry" in Arabic.)

In general, Arabic names lend an air of authenticity and locality that must be valuable when doing business with global partners, who tend to be anglophone.

But on most other occasions, I’m against rebranding, especially in the digital age. The corporate world went bonkers then. Lower case letters kept occurring in places where they shouldn’t – think du or PwC – and for a while every company name had to begin with an “i” or an “e”.

If you work on the principle “if it isn’t broken, don’t fix it”, rebranding implies there was something wrong before that only a new name could mend. It is almost the corporate equivalent of a fugitive on the run getting a false passport.

What got me thinking about all this was the news just a couple of days ago that College Group, a global public relations agency with big ambitions, had rebranded itself to “Instinctif”.

I can see why it might have wanted to change. In America and much of the rest of the world, the old name would have had unwanted educational connotations.

But “Instinctif”? How does that promote its global image?

I think PR agencies charge the big bucks not for their “instinct”, but for their considered expertise and wise counsel. Wrong message.

And the “-if”? It lends a certain Gallic sophistication, I admit, like aperitif or digestif, but it’s just a bit too … iffy.

I know well the executives who run Instinctif, in London and in the region. Good people, and I wish them well. But really.

***

Much as I like Jumeirah hotels, I don't like what they've done to the Dhow & Anchor, the Jumeirah Beach venue.

The Dhow was universally known and loved by generations of locals and expats, who mingled there to watch football matches late into the night. It was as close as you could get to an old--fashioned British pub this side of Bermondsey.

Smoking must have been banned in the old Dhow many years ago, but it retained the distinctive brown-stained ceiling of a previous mores. Unique, outside Deira or Bur Dubai.

Now the Dhow, after a six-month renovation, is all pine, stainless steel and glass – totally bereft of character.

Two things haven’t changed, however. The clientele is still largely the same, notably that archetypal expat with big belly and ruddy face who has been there every single night I’ve ever attended.

And the outside terrace is largely untouched, with its views of the Burj Al Arab and the Gulf. Sitting there, you might even imagine you were in the old Dhow.

fkane@thenational.ae

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Opening Rugby Championship fixtures: Games can be watched on OSN Sports
Saturday: Australia v New Zealand, Sydney, 1pm (UAE)
Sunday: South Africa v Argentina, Port Elizabeth, 11pm (UAE)

The specs

AT4 Ultimate, as tested

Engine: 6.2-litre V8

Power: 420hp

Torque: 623Nm

Transmission: 10-speed automatic

Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)

On sale: Now

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

North Pole stats

Distance covered: 160km

Temperature: -40°C

Weight of equipment: 45kg

Altitude (metres above sea level): 0

Terrain: Ice rock

South Pole stats

Distance covered: 130km

Temperature: -50°C

Weight of equipment: 50kg

Altitude (metres above sea level): 3,300

Terrain: Flat ice
 

Expo details

Expo 2020 Dubai will be the first World Expo to be held in the Middle East, Africa and South Asia

The world fair will run for six months from October 20, 2020 to April 10, 2021.

It is expected to attract 25 million visits

Some 70 per cent visitors are projected to come from outside the UAE, the largest proportion of international visitors in the 167-year history of World Expos.

More than 30,000 volunteers are required for Expo 2020

The site covers a total of 4.38 sqkm, including a 2 sqkm gated area

It is located adjacent to Al Maktoum International Airport in Dubai South

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.”

Dubai Bling season three

Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed 

Rating: 1/5

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Global state-owned investor ranking by size

1.

United States

2.

China

3.

UAE

4.

Japan

5

Norway

6.

Canada

7.

Singapore

8.

Australia

9.

Saudi Arabia

10.

South Korea

Benefits of first-time home buyers' scheme
  • Priority access to new homes from participating developers
  • Discounts on sales price of off-plan units
  • Flexible payment plans from developers
  • Mortgages with better interest rates, faster approval times and reduced fees
  • DLD registration fee can be paid through banks or credit cards at zero interest rates
FIXTURES

Monday, January 28
Iran v Japan, Hazza bin Zayed Stadium (6pm)

Tuesday, January 29
UAEv Qatar, Mohamed Bin Zayed Stadium (6pm)

Friday, February 1
Final, Zayed Sports City Stadium (6pm)

What vitamins do we know are beneficial for living in the UAE

Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.

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PREMIER LEAGUE FIXTURES

All times UAE ( 4 GMT)

Saturday
West Ham United v Tottenham Hotspur (3.30pm)
Burnley v Huddersfield Town (7pm)
Everton v Bournemouth (7pm)
Manchester City v Crystal Palace (7pm)
Southampton v Manchester United (7pm)
Stoke City v Chelsea (7pm)
Swansea City v Watford (7pm)
Leicester City v Liverpool (8.30pm)

Sunday
Brighton and Hove Albion v Newcastle United (7pm)

Monday
Arsenal v West Bromwich Albion (11pm)