A married couple shares a romantic walk on the public beach near the Jumeriah Beach hotel in Dubai.
A married couple shares a romantic walk on the public beach near the Jumeriah Beach hotel in Dubai.
A married couple shares a romantic walk on the public beach near the Jumeriah Beach hotel in Dubai.
A married couple shares a romantic walk on the public beach near the Jumeriah Beach hotel in Dubai.

Feel flash without cash


  • English
  • Arabic

In our previous issues we have enjoyed "spending" our hard-earned money on a variety of things that have kept us entertained, relaxed or healthy and active. In this issue I thought a challenge would be preferable, and propose some simpler ways to show your care, rather than relying on money. Romance doesn't come with price tag. In this "consumerist" society, in which we are tempted from all sides to buy, it seems appropriate to pose the question: could you impress with less money? Can we possibly resist the temptation to flip out our wallet and pull out the cash or card?

The way I see it, with money tighter than ever, here and now is the ideal time to take on what could be seen as the more interesting challenge of breaking the spending habit. The dismal economic scene can serve as an unexpected catalyst for our more "creative resources". To woo without the cash. True substance over flash.

What happened to the days where couples sent each other letters? Remember those? Sheets of paper on which beautiful calligraphy expressed feelings, ideas and thoughts? Today we type, or worse, copy and paste something into an email and just click send. This method is terribly impersonal, wouldn't you agree? Time to perfect your handwriting and set out to personalise this year's Valentine card or letter. Instead of purchasing that Hallmark card, consider a single sheet of paper with your very own words, in the form of a poem, for example. It is a given that you can find a good sheet of paper or two anywhere, and surely you already own a pen. On the expense side, this option is a saver. A block of paper and a pen are approximately Dh8.

Put some real thought into it. You can buy a bouquet for your better half, but how about putting your own together? Some flower shops allow you to prepare your own arrangements, and that knocks off the fils in the overall price. Instead of flowers that will inevitably perish in a few days, choose a small plant. Carrefour has some good options that will cost you the same as the classic bouquet. But your investment will last longer. If you really have your heart set on flowers, then try this: buy half a dozen and leave them in several different places for your loved one. Think of how nice it would feel to have little surprises every day for a week, all for the price of one bouquet. An average bouquet will run about Dh110.

Serenading someone is an enjoyable experience. It can take a good deal of courage, and you can't buy that. For this you have several options. If you are musically inclined, chances are you have your own guitar, or you can borrow from a friend. For the rest of us there is always the trusted MP3 player and speakers. The costs here are non-existent if the speakers are chargeable. Otherwise you are looking at the expense of batteries to power your soundtrack for the evening. If you can manage to serenade your date before leaving home and can incorporate an upstairs window, then more points to you, and still no cost. But the batteries are Dh27.

Picnics are an entertaining and relaxing way to spend a small amount of money and get a considerable amount of enjoyment out of it. It is a time when you are alone and focused with a loved one and canenjoy their company. It can be a great way to show how much you care about them. Picking the destination can sometimes be difficult, because there are usually so many options available. If you have visited an area once and had good luck, this place might be the best option for you to stage your meal. Most of items that you need for your picnic are likely already in your home. Blankets, cushions, glasses, plates, cutlery and napkins: these are all things you are saving money on. Your only expense will be the food you prepare and enjoy. Again, being creative will go a long way to keeping expenditures on the low side. Throw in a bottle of sparkling juice for Dh9.

If the great outdoors is not your cup of tea, then opt to stay at home this time. Instead of dining out try a home-cooked dinner for two.

Try cooking a simple meal together if your culinary skills are not that vast. One of the simplest and least expensive meals will usually involve pasta and the sauce that accompanies it. There are many varieties available to suit the most varied palates. The time spent together is worth more than money. If you don't have candles then that might be a small expense to consider. Instead of going to the movies, watch a "classic" that you have around the house and have not seen in a while. Bank on a nice pasta and sauce for Dh57.

Whatever your choice of venue for this occasion, you can always enhance your evening by enjoying a walk under the stars. It's such a simple way to spend some quality time with another person, yet so rarely done by the majority of people. The location for the starlit stroll might be a challenge. But it will cost you nothing.

As a reminder of the evening, why not burn a CD with a few of the songs you both enjoy? The CD will only cost you around Dh3.

You can spread joy in such remarkable ways. Looking into charities or causes you both believe in can only reinforce your ability to communicate and to find out more about one other. This can be an extraordinary experience to share, and the memories you create on this simple day will certainly strengthen your bond as a couple.

Overall, Valentine's Day certainly doesn't mean you need to overcharge your credit card. It's a time when you can display affection toward someone you care for without paying a mint. psantos@thenational.ae

Naga
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Citadel: Honey Bunny first episode

Directors: Raj & DK

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

Rating: 4/5

MATCH INFO

Newcastle United 2 (Willems 25', Shelvey 88')

Manchester City 2 (Sterling 22', De Bruyne 82')

Women’s World T20, Asia Qualifier

UAE results
Beat China by 16 runs
Lost to Thailand by 10 wickets
Beat Nepal by five runs
Beat Hong Kong by eight wickets
Beat Malaysia by 34 runs

Standings (P, W, l, NR, points)

1. Thailand 5 4 0 1 9
2. UAE 5 4 1 0 8
3. Nepal 5 2 1 2 6
4. Hong Kong 5 2 2 1 5
5. Malaysia 5 1 4 0 2
6. China 5 0 5 0 0

Final
Thailand v UAE, Monday, 7am

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Persuasion
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Profile box

Founders: Michele Ferrario, Nino Ulsamer and Freddy Lim
Started: established in 2016 and launched in July 2017
Based: Singapore, with offices in the UAE, Malaysia, Hong Kong, Thailand
Sector: FinTech, wealth management
Initial investment: $500,000 in seed round 1 in 2016; $2.2m in seed round 2 in 2017; $5m in series A round in 2018; $12m in series B round in 2019; $16m in series C round in 2020 and $25m in series D round in 2021
Current staff: more than 160 employees
Stage: series D 
Investors: EightRoads Ventures, Square Peg Capital, Sequoia Capital India

The%C2%A0specs%20
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%20Dual%20synchronous%20electric%20motors%20%20%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E646hp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E830Nm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ETwo-speed%20auto%20(rear%20axle)%3B%20single-speed%20auto%20(front)%20%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh552%2C311%3B%20Dh660%2C408%20(as%20tested)%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3Enow%3C%2Fp%3E%0A
Most sought after workplace benefits in the UAE
  • Flexible work arrangements
  • Pension support
  • Mental well-being assistance
  • Insurance coverage for optical, dental, alternative medicine, cancer screening
  • Financial well-being incentives 
Panipat

Director Ashutosh Gowariker

Produced Ashutosh Gowariker, Rohit Shelatkar, Reliance Entertainment

Cast Arjun Kapoor, Sanjay Dutt, Kriti Sanon, Mohnish Behl, Padmini Kolhapure, Zeenat Aman

Rating 3 /stars

While you're here

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.”

MATCH INFO

What: India v Afghanistan, first Test
When: Starts Thursday
Where: M Chinnaswamy Stadium, Bengalaru

How much of your income do you need to save?

The more you save, the sooner you can retire. Tuan Phan, a board member of SimplyFI.com, says if you save just 5 per cent of your salary, you can expect to work for another 66 years before you are able to retire without too large a drop in income.

In other words, you will not save enough to retire comfortably. If you save 15 per cent, you can forward to another 43 working years. Up that to 40 per cent of your income, and your remaining working life drops to just 22 years. (see table)

Obviously, this is only a rough guide. How much you save will depend on variables, not least your salary and how much you already have in your pension pot. But it shows what you need to do to achieve financial independence.

 

DMZ facts
  • The DMZ was created as a buffer after the 1950-53 Korean War.
  • It runs 248 kilometers across the Korean Peninsula and is 4km wide.
  • The zone is jointly overseen by the US-led United Nations Command and North Korea.
  • It is littered with an estimated 2 million mines, tank traps, razor wire fences and guard posts.
  • Donald Trump and Kim Jong-Un met at a building in Panmunjom, where an armistice was signed to stop the Korean War.
  • Panmunjom is 52km north of the Korean capital Seoul and 147km south of Pyongyang, North Korea’s capital.
  • Former US president Bill Clinton visited Panmunjom in 1993, while Ronald Reagan visited the DMZ in 1983, George W. Bush in 2002 and Barack Obama visited a nearby military camp in 2012. 
  • Mr Trump planned to visit in November 2017, but heavy fog that prevented his helicopter from landing.
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The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

Countries recognising Palestine

France, UK, Canada, Australia, Portugal, Belgium, Malta, Luxembourg, San Marino and Andorra

 

Key developments

All times UTC 4

THE SPECS

Engine: 4.4-litre V8

Transmission: Automatic

Power: 530bhp 

Torque: 750Nm 

Price: Dh535,000

On sale: Now

Wicked: For Good

Director: Jon M Chu

Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater

Rating: 4/5

Russia's Muslim Heartlands

Dominic Rubin, Oxford

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative 

Read part one: how cars came to the UAE

The biog

Favourite book: Homegoing by Yaa Gyasi

Favourite holiday destination: Spain

Favourite film: Bohemian Rhapsody

Favourite place to visit in the UAE: The beach or Satwa

Children: Stepdaughter Tyler 27, daughter Quito 22 and son Dali 19

Top%2010%20most%20competitive%20economies
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White hydrogen: Naturally occurring hydrogenChromite: Hard, metallic mineral containing iron oxide and chromium oxideUltramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica contentOphiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on landOlivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour

Should late investors consider cryptocurrencies?

Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.

They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.

“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.

He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.

The specs

Engine: 2.0-litre 4-cylinder turbo hybrid

Transmission: eight-speed automatic

Power: 390bhp

Torque: 400Nm

Price: Dh340,000 ($92,579

The specs
Engine: 3.6 V6

Transmission: 8-speed auto

Power: 295bhp

Torque: 353Nm

Price: Dh155,000

On sale: now 

Ahmed Raza

UAE cricket captain

Age: 31

Born: Sharjah

Role: Left-arm spinner

One-day internationals: 31 matches, 35 wickets, average 31.4, economy rate 3.95

T20 internationals: 41 matches, 29 wickets, average 30.3, economy rate 6.28

The%20Roundup
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Know before you go
  • Jebel Akhdar is a two-hour drive from Muscat airport or a six-hour drive from Dubai. It’s impossible to visit by car unless you have a 4x4. Phone ahead to the hotel to arrange a transfer.
  • If you’re driving, make sure your insurance covers Oman.
  • By air: Budget airlines Air Arabia, Flydubai and SalamAir offer direct routes to Muscat from the UAE.
  • Tourists from the Emirates (UAE nationals not included) must apply for an Omani visa online before arrival at evisa.rop.gov.om. The process typically takes several days.
  • Flash floods are probable due to the terrain and a lack of drainage. Always check the weather before venturing into any canyons or other remote areas and identify a plan of escape that includes high ground, shelter and parking where your car won’t be overtaken by sudden downpours.

 

The years Ramadan fell in May

1987

1954

1921

1888

Tamkeen's offering
  • Option 1: 70% in year 1, 50% in year 2, 30% in year 3
  • Option 2: 50% across three years
  • Option 3: 30% across five years 
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