From property to aviation, personal finance to smartphones, find out which stories were out big hitters during the past 12 months.
January: World’s top 10 safest airlines 2015 - in pictures
AirlineRatings.com revealed the safest airlines in the world for 2015 from the 449 airlines it monitors. Qantas was the leader last year and held on to its title again.
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February: UAE armed forces show their skills at Idex 2015 in Abu Dhabi – in pictures
Emirati armed forces took part in a military show at the opening of the International Defence Exhibition and Conference (Idex) at the Abu Dhabi National Exhibition Centre.
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March: A guide to the UAE’s end of service gratuity
The end of service gratuity has always been a talking point in the UAE. While it is handed to employees when they leave a company - almost like a bonus payment - many believe it is a substitution for a pension plan. We asked two UAE-based experts to answer a series of questions on the end of service benefit.
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April: New property projects at Cityscape Abu Dhabi 2015 – in pictures
A host of spectacular new property projects were showcased at Cityscape Abu Dhabi 2015, and we had all of the stunning renderings plus pictures from the event.
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May: Leaving the UAE? Here’s how to do so the right way
Leaving the UAE can be time-consuming for expats – you need to be physically present to close down many accounts, and personal possessions, such as cars and furniture, can take time to sell. We looked at how to plan ahead and make your exit as smooth as possible.
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June: Sony Xperia Z3+ review: Far from a revolutionary overhaul
After Sony announced its new flagship smartphone, we were quick off the mark to get one of the world’s first reviews of the device.
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July: Etihad A380 business class review: Bring your pyjamas and get some rest
After many a sleepless journey in economy, our reviewer finally got some rest in Etihad’s A380 business class and found out what all the fuss was about.
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August: Dubai’s Meydan One development aims for record-breaking success – in pictures
Dubai developer Meydan launched Meydan One, a 3.67 million square metre mixed-use development which, when finished before 2020, would feature some of record-breaking facilities including the longest indoor ski slope, the largest dancing fountain as well as the highest residential tower in the world.
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September: Dubai’s most expensive apartment: Dh181m home for rich and famous
It has the views, the location and the snazzy interior, though anyone lost in a dream world after seeing One at Palm Jumeirah will soon be woken up by the price tag.
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October: Passport to a better life: citizenship opportunities available to you
As the Middle East and African refugee crisis intensifies, having the right passport can be a matter of life and death.
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November: UAE salary guide 2016: How much you can expect to earn in finance, technology, HR and admin
We looked at where salaries are set to rise in 2016 and the going rates for a host of jobs, according to data from recruitment firm Robert Half.
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December: Is Trump being dumped in Dubai? Damac takes down massive billboards featuring Donald Trump
It came just two days after Damac said it would stick by Trump International after Donald Trump had called for a “total and complete shutdown of Muslims entering the United States”.
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England ODI squad
Eoin Morgan (captain), Moeen Ali, Jonny Bairstow, Jake Ball, Sam Billings, Jos Buttler, Tom Curran, Alex Hales, Liam Plunkett, Adil Rashid, Joe Root, Jason Roy, Ben Stokes, David Willey, Chris Woakes, Mark Wood.
The view from The National
What to watch out for:
Algae, waste coffee grounds and orange peels will be used in the pavilion's walls and gangways
The hulls of three ships will be used for the roof
The hulls will painted to make the largest Italian tricolour in the country’s history
Several pillars more than 20 metres high will support the structure
Roughly 15 tonnes of steel will be used
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UAE currency: the story behind the money in your pockets
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.”
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
