Students prepare to race their eco-friendly hybrid car


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ABU DHABI // A team of students from Abu Dhabi University is planning to race a hand-built hybrid-electric car in a regional green technology competition.

Twelve mechanical engineering students worked for two months to build the car for the Taqa GCC Hybrid-Electric Challenge on January 29 to 31. Eleven other teams from Oman, Kuwait, Qatar and the UAE are also expected to compete in the race, organised by Abu Dhabi National Energy Company (Taqa).

The car that records the longest distance and fastest average speed will win the competition, which is taking place at Al Forsan International Sports Resort. The other Emirati teams are from UAE University, the Petroleum Institute, Masdar Institute and Khalifa University of Science, Technology and Research.

The car, which seats one driver, is powered by a combination of advanced lithium batteries and a petrol generator. The team had to balance the two parts to make the car function in an energy-efficient way.

The students said the project helped them in ways they did not expect.

“The science stuff, you’re eager about it, you’re excited about it, you read about it, you learn about it, but to discuss with people whether an idea works or not – that is where problems arise,” said Yehia Blushi, 23, team spokesman.

“So the human engineering is the most surprising part. For us, this is a real-life project. The experience is priceless.”

As the team was made up of mechanical engineers, they found the electrical engineering part of the project very challenging.

“When it comes to electrical, you have a lot of tiny circuits, tiny boards and very tiny details, so it was kind of hard for us,” said team leader Abdullah Abdul Jalil, 21.

The students split into separate groups to work on aerodynamics, steering, energy efficiency and suspension.

Hamdi Sheibani, chair of the mechanical engineering department, said the students had some difficulties with preparation and planning, but that was part of the experience.

“You have to learn how to implement what you learn to solve problems,” Mr Sheibani said.

“I am happy that we are facing problems, so you’ll see how the students can solve them, especially when they are under pressure and timing as part of the game.”

Aly Nazmy, dean of the College of Engineering, said the department hopes to have two teams and a second car in the 2015 competition.

lcarroll@thenational.ae

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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.”

if you go

Getting there

Etihad (Etihad.com), Emirates (emirates.com) and Air France (www.airfrance.com) fly to Paris’ Charles de Gaulle Airport, from Abu Dhabi and Dubai respectively. Return flights cost from around Dh3,785. It takes about 40 minutes to get from Paris to Compiègne by train, with return tickets costing €19. The Glade of the Armistice is 6.6km east of the railway station.

Staying there

On a handsome, tree-lined street near the Chateau’s park, La Parenthèse du Rond Royal (laparenthesedurondroyal.com) offers spacious b&b accommodation with thoughtful design touches. Lots of natural woods, old fashioned travelling trunks as decoration and multi-nozzle showers are part of the look, while there are free bikes for those who want to cycle to the glade. Prices start at €120 a night.

More information: musee-armistice-14-18.fr ; compiegne-tourisme.fr; uk.france.fr

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RESULT

Manchester United 2 Burnley 2
Man United:
 Lingard (53', 90' 1)
Burnley: Barnes (3'), Defour (36')

Man of the Match: Jesse Lingard (Manchester United)