Sheikha Lubna Al Qasimi, the UAE Minister for Foreign Trade, does not have a Twitter account, which I think is an eminently sensible decision.
I know a lot of very important people do tweet, and very successfully too. But after a brief dalliance with the little blue bird, I've largely given it up. I just couldn't trust myself not to tweet injudiciously or inappropriately.
So I have forsaken it. It was too time-consuming anyway.
Sheikha Lubna announced her Twitter-less status on a panel at the Sharjah Government Communication Forum held in the emirate's imposing Expo Hall this week. Her revelation drew some surprised gasps from the audience, many of them younger social media types for whom life without Twitter would obviously be intolerable.
I noticed lots of them tweeting Sheikha Lubna's revelation as soon as she made it.
They obviously thought her extrovert, modern persona would have made tweeting a must, but she was adamant.
"It's a personal decision," she insisted, pointing out that her ministry does tweet quite frequently.
Her decision is in contrast to a number of senior members of the ruling families of the UAE. Another panel member, Noura Al Kaabi, the chief executive of Abu Dhabi's free zone twofour54 and herself a prolific tweeter, took the audience through the tweeting styles of various senior figures in the UAE constellation, and fascinating it was too.
Ms Al Kaabi also drew the biggest round of applause of her panel session in response to a question about how government departments should respond to complaints about bad service.
"The customer is always right," she insisted, "even in the public sector". I imagine that was prolifically tweeted too.
***
The moderator of that session, the TV presenter Turki Al Dakhil, decided to have some fun with one of the panelists, Gordon Johndroe, who was a press spokesman for the United States government under the then president George W Bush.
Mr Al Dakhil posed the question: "Is a spokesman somebody who puts cosmetics on a certain face but those cosmetics are just for show?"
I didn't really understand what he meant, and a look round the hall showed a number of other participants were similarly perplexed.
It must have been some kind of private joke though, because Mr Johndroe had a little snigger before deftly avoiding an answer with a typical bit of spin-doctor finesse.
Cosmetics? A certain face? Whatever could he have meant?
***
I learn that there is life after a career in the Dubai Financial Services Authority, and quite interesting it can be.
Paul Koster, who took his leave as the chief executive of the DFSA last summer after a four-year span generally reckoned to have been a great success, has retained his connections with Dubai.
Mr Koster's management hallmark was the gentle art of persuasive consensus-building, and he is putting those skills to good use as an adviser to Abdullah Mohammed Saleh, the unassuming governor of the Dubai International Financial Centre.
That role will probably be less demanding than Mr Koster's other post-DFSA job, as the president of the body in charge of recapitalising Greece's bombed-out banking system.
The Greeks obviously feel that a softly spoken "neutral" like the Dutchman Mr Koster will be better at handling the tense refinancing talks with (mainly German) creditors.
fkane@thenational.ae
The Bio
Ram Buxani earned a salary of 125 rupees per month in 1959
Indian currency was then legal tender in the Trucial States.
He received the wages plus food, accommodation, a haircut and cinema ticket twice a month and actuals for shaving and laundry expenses
Buxani followed in his father’s footsteps when he applied for a job overseas
His father Jivat Ram worked in general merchandize store in Gibraltar and the Canary Islands in the early 1930s
Buxani grew the UAE business over several sectors from retail to financial services but is attached to the original textile business
He talks in detail about natural fibres, the texture of cloth, mirrorwork and embroidery
Buxani lives by a simple philosophy – do good to all
The 12 Syrian entities delisted by UK
Ministry of Interior
Ministry of Defence
General Intelligence Directorate
Air Force Intelligence Agency
Political Security Directorate
Syrian National Security Bureau
Military Intelligence Directorate
Army Supply Bureau
General Organisation of Radio and TV
Al Watan newspaper
Cham Press TV
Sama TV
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
What are the influencer academy modules?
- Mastery of audio-visual content creation.
- Cinematography, shots and movement.
- All aspects of post-production.
- Emerging technologies and VFX with AI and CGI.
- Understanding of marketing objectives and audience engagement.
- Tourism industry knowledge.
- Professional ethics.
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
The biog
Name: Mariam Ketait
Emirate: Dubai
Hobbies: I enjoy travelling, experiencing new things, painting, reading, flying, and the French language
Favourite quote: "Be the change you wish to see" - unknown
Favourite activity: Connecting with different cultures
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
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
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.”