According to this month’s Northwest University Qatar report Media Industries in the Middle East 2016, the total ad market in the Middle East was valued at US$5.5 billion in 2015.
The Mena region is seeing a gradual shift into the modern era of digital marketing, an area especially pertinent to the region’s 141 million internet users, the report says, led to an extent by online classified advertising.
From 2010 to 2015, total digital advertising in Mena increased from US$105 million to $550m, the report says.
Adoption of digital advertisement has been slow, but continues to increase each year. Mobile advertising is estimated at only 6 per cent of ad expenditures in the region, the report says, even though the Middle East has one of the highest rates of smartphone usage in the world.
Zenith Optimedia forecasts digital ad spend in Mena will reach $1 billion by 2017, given the increasing reliance of marketers on less traditional mediums.
In the UAE the rise of e-commerce platforms is helping to boost the growth of digital advertising and websites such as Souq.com, Dubizzle and EZHeights have become the norm for residents here – and in the wider region – to advertise goods they no longer want.
And the online classified market can throw up some very strange offerings.
EZHeights has listed some of the most outrageous classified advertisements that are posted on its website, and in some cases even sold.
“All classifieds advertisements posted on the website undergo a fact checking process before they are posted online. We do lookout for the extreme ones that may incite trouble, however, the quirkier ads do go up on the website,” said Adham Saleh, the chief executive of EZHeights.
And here are a few:
1. Very Playful Flying Squirrel (Dh400)
Although the age of this exotic pet is not mentioned in the advert, these tiny gentle squirrels are apparently “perfect pocket pets”.
2. Pair of Peacocks (Dh1,500)
In case your flying squirrel gets lonely, he would probably enjoy the company of a pair of majestic peacocks.
3. Dead, Old Handpicked Trafford Grass (price unknown)
Dead grass can never go out of demand, especially if it is from the Manchester United football pitch in the United Kingdom. Pretty sure Wayne Rooney and Marcus Rashford have left their imprints behind on the dried-up blades of grass, making it impossible to place a price on it. However, there are suspicions about this advertisement being the bait for a radio station prank.
4. Brass Pocket Pirate Compass (Dh59)
This brass pocket pirate compass is an antique reproduction of an original sundials used in the 1900s. A perfect piece if you are a collector of antiques, but not for those who have serious aspirations to join the high seas and loot ships.
5. Handcrafted Golden Aladdin Lamp (Dh79)
A few hard rubs on this flawless, handcrafted Golden Aladdin Lamp might summon a genie to grant you three wishes. On a more serious note, this decorative accessory is best placed over your mantelpiece.
6. Mobile Truck/Bus Wash Machine (Dh65,000)
Why take your truck, bus or trailer to a car wash, when you can get a mobile one at home? The top-of-the-line EZ Drive system makes the machine wash even faster and seem feather light, apparently. For a whopping Dh65,000, it even carries its own water, detergent and power for completely untethered operation.
chnelson@thenational.ae
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The specs: 2019 Infiniti QX50
Price, base: Dh138,000 (estimate)
Engine: 2.0L, turbocharged, in-line four-cylinder
Transmission: Continuously variable transmission
Power: 268hp @ 5,600rpm
Torque: 380Nm @ 4,400rpm
Fuel economy: 6.7L / 100km (estimate)
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
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Director: Christian Carion
Starring: James McAvoy, Claire Foy, Tom Cullen, Gary Lewis
Rating: 2/5
'Texas Chainsaw Massacre'
Rating: 1 out of 4
Running time: 81 minutes
Director: David Blue Garcia
Starring: Sarah Yarkin, Elsie Fisher, Mark Burnham
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Director: John Madden
Cast: Colin Firth, Matthew Macfayden, Kelly Macdonald and Penelope Wilton
Rating: 4/5
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.”
Mountain%20Boy
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PROFILE OF HALAN
Started: November 2017
Founders: Mounir Nakhla, Ahmed Mohsen and Mohamed Aboulnaga
Based: Cairo, Egypt
Sector: transport and logistics
Size: 150 employees
Investment: approximately $8 million
Investors include: Singapore’s Battery Road Digital Holdings, Egypt’s Algebra Ventures, Uber co-founder and former CTO Oscar Salazar
UAE currency: the story behind the money in your pockets
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This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
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The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
Previous men's records
- 2:01:39: Eliud Kipchoge (KEN) on 16/9/19 in Berlin
- 2:02:57: Dennis Kimetto (KEN) on 28/09/2014 in Berlin
- 2:03:23: Wilson Kipsang (KEN) on 29/09/2013 in Berlin
- 2:03:38: Patrick Makau (KEN) on 25/09/2011 in Berlin
- 2:03:59: Haile Gebreselassie (ETH) on 28/09/2008 in Berlin
- 2:04:26: Haile Gebreselassie (ETH) on 30/09/2007 in Berlin
- 2:04:55: Paul Tergat (KEN) on 28/09/2003 in Berlin
- 2:05:38: Khalid Khannouchi (USA) 14/04/2002 in London
- 2:05:42: Khalid Khannouchi (USA) 24/10/1999 in Chicago
- 2:06:05: Ronaldo da Costa (BRA) 20/09/1998 in Berlin