Maybe, just maybe, the ultimate luxury for the time-starved, constantly connected, always-on-the-go individual is a little bit of peace and quiet.
Proponents of the so-called digital detox would certainly say so. “There are many reasons why switching off is important, some more obvious than others,” says Petter Neby, founder of Punkt, the Swiss company behind the MP01 mobile phone. “Focus is definitely one of the most important. It’s proven that people perform better and enjoy experiences more if they are able to devote full attention to them. The interruptions that come with constant connectivity cause distraction, which causes cognitive fatigue.
“Boredom is another less obvious reason why it is important to switch off. Contrary to common belief, boredom gives you time to reflect and invest in creative thought. Social media is often a tempting alternative to daydreaming, but boredom is more likely to motivate you to seek meaning and purpose.”
Which is why Punkt’s MP01 makes calls and sends texts – and that’s it. Inspired by his stepdaughter, who was suffering from insomnia caused by over-connectivity, Neby decided to create the anti-smartphone. He enlisted the help of renowned British industrial designer Jasper Morrison, and launched the first iteration of the MP01 in 2011.
Did people think he was crazy? “It was an interesting mix. Some people thought it was a crazy idea that didn’t stand a chance; others embraced the idea straight away and welcomed the MP01 as a good-looking and stylish alternative to the older, basic mobile phones available on the market.”
In the UAE, the MP01 retails at Sound+Design in Abu Dhabi’s Nation Towers, and Dubai Audio Centre on Sheikh Zayed Road. During the London Design Festival this summer, the brand announced that the phone would be available in two new colour options: white and brown.
Which is all good and well – but are people actually subscribing to the idea of the digital detox, in practice, rather than theory? “There is certainly an increase in adults attempting to take some form of digital detox to wean themselves off smartphones and tablets, whether it’s on the weekends, in the evenings or just once in a while for some downtime.
“Being tethered to a device around the clock is now bothering people, especially in their private lives. This does not mean that people do not recognise the convenience of advanced technologies and smartphones, but that they are discovering that being ‘always-on’ also has disadvantages.”
The idea is not to create a replacement for smartphones, but something that will act in conjunction – a second phone that will facilitate some downtime when it’s needed.
This summer, Punkt organised the Digital Detox Challenge, inviting a select group, consisting of journalists and members of the public, to live without their phones for 48 hours. Participants were given an MP01 handset and asked to chronicle their offline experiences (both digitally and via "snail mail"); those who completed the challenge were allowed to keep their phones. "The results were astonishing," says Neby. "I think we can safely say that people subscribe to the digital detox in practice. It may sound bizarre, but the reports reveal that in an overly connected world, it seems people feel more and more disconnected from each other and their surroundings."
Read this and more stories in Luxury magazine, out with The National on Thursday, November 3.
sdenman@thenational.ae
The Outsider
Stephen King, Penguin
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CREW
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The biog
Hobbies: Salsa dancing “It's in my blood” and listening to music in different languages
Favourite place to travel to: “Thailand, as it's gorgeous, food is delicious, their massages are to die for!”
Favourite food: “I'm a vegetarian, so I can't get enough of salad.”
Favourite film: “I love watching documentaries, and am fascinated by nature, animals, human anatomy. I love watching to learn!”
Best spot in the UAE: “I fell in love with Fujairah and anywhere outside the big cities, where I can get some peace and get a break from the busy lifestyle”
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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.”
Results:
5pm: Maiden (PA) Dh80,000 2,200m | Winner: AF Al Montaqem, Bernardo Pinheiro (jockey), Ernst Oertel (trainer)
5.30pm: Maiden (PA) Dh80,000 1,200m | Winner: Daber W’Rsan, Connor Beasley, Jaci Wickham
6pm: Handicap (PA) Dh85,000 1,600m | Winner: Bainoona, Fabrice Veron, Eric Lemartinel
6.30pm: Handicap (PA) Dh80,000 1,600m | Winner: AF Makerah, Antonio Fresu, Ernst Oertel
7pm: Wathba Stallions Cup Handicap (PA) Dh70,000 | Winner: AF Motaghatres, Antonio Fresu, Ernst Oertel
7.30pm: Handicap (TB) Dh90,000 1,600m | Winner: Tafakhor, Ronan Whelan, Ali Rashid Al Raihe
Company%C2%A0profile
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BUNDESLIGA FIXTURES
Friday Stuttgart v Cologne (Kick-off 10.30pm UAE)
Saturday RB Leipzig v Hertha Berlin (5.30pm)
Mainz v Borussia Monchengladbach (5.30pm)
Bayern Munich v Eintracht Frankfurt (5.30pm)
Union Berlin v SC Freiburg (5.30pm)
Borussia Dortmund v Schalke (5.30pm)
Sunday Wolfsburg v Arminia (6.30pm)
Werder Bremen v Hoffenheim (9pm)
Bayer Leverkusen v Augsburg (11.30pm)
The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
The specs
Engine: 3.8-litre twin-turbo flat-six
Power: 650hp at 6,750rpm
Torque: 800Nm from 2,500-4,000rpm
Transmission: 8-speed dual-clutch auto
Fuel consumption: 11.12L/100km
Price: From Dh796,600
On sale: now
'Skin'
Dir: Guy Nattiv
Starring: Jamie Bell, Danielle McDonald, Bill Camp, Vera Farmiga
Rating: 3.5/5 stars
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