I refer to the article Free BMW with each TV, and it's no steal (October 8).
I visited Gitex for the first time on Monday. But I could not buy anything. I was confused by the availability of so many products under one roof.
All major brands were offering equally attractive deals, which made it difficult for me to choose from. There were raffle coupons and freebies with almost all products.
It would be prudent to do research before going there, so that you know exactly which products to buy. Otherwise you will waste your money and time.
Even though I was unable to buy anything, I did spend some time looking. The new curved TVs by Samsung and LG were amazing. Now I know what to pick up when I pay a visit next time.
P Dominic, Dubai
Solve holiday issue for private sector
Su'ad Yousif's opinion column Private sector work is full of rewards, if not untold riches (October 7) expounds on the rewards from working in the private sector. But I notice that the writer is employed as a civil servant.
I also came across the news that many public-sector workers will enjoy up to nine days Eid holiday (Eid brings nine day’s of for UAE public sector workers, October 6). There is no mention of the private-sector entitlement.
Until holiday entitlements are equalised, there will be no motivation to take up jobs in the private sector that brings wealth and economic success to this country.
Susan Falconer, Abu Dhabi
UK tax myths you must know
I am writing in reference to Karen Bobker's question and answer column, What are the requirements to be considered a UK non-resident? (October 6).
Here are the most common UK tax myths: 1. If I claim an income tax refund, I will not be eligible for a pension. Wrong. If you have paid national insurance related to your pension, you will be able to receive a pension. Even if you claim tax back, you are still able to live and work in the UK, as it does not affect your eligibility for a pension. 2. Applying for a refund will affect my stay in the UK. Wrong. Applying for a tax refund will not in any way affect your stay in the UK. In some cases you may even be obliged to file a tax return. 3. I can’t apply for a refund until I leave the UK. Wrong. Applying for a tax refund as a non-resident is not related to your intention to leave or stay in the country. You can apply while you are in the UK or after you leave, it’s up to you. 4. I can claim all the tax I paid back when I leave the UK. It depends. If you have earned less than the tax free allowance then you can claim back all of your tax. If you have earned more than the allowance, you will be able to claim a portion back. The amount will depend on how much you have earned and how much you have paid in tax.
Peter Smith, Dubai
Good food can cost too much
I am writing about the article Top 10 new Abu Dhabi restaurants (October 7) in Arts&Life.
I ordered delivery from Wing Zone the other day. The food was quite good, but it’s overpriced. Ten wings cost me Dh35, and that doesn’t include fries or a drink.
Jil Schroeder, Abu Dhabi
The article didn’t mention the prices of items. I think St Regis would hardly be a “cheap” place to enjoy a meal.
Name withheld by request
Wrong bills bring much trouble
When you receive a wrong bill from a bank, credit card company, utility company or property management company, it becomes your responsibility to point out the discrepancy.
Sometimes you may have to run from pillar to post to prove the errors. And if your accounting system is as bad as mine, you would have to pay for services you did not get.
How far would you go, for example, when your bank or a service provider deducts Dh9.90 by mistake? You may just call the help centre.
I am writing this because I had a similar experience with my bank who deducted Dh123.50 twice, and then again with my credit card company, which wrongly charged me Dh220. Eventually they apologised and refunded.
I am fighting another battle with my phone service provider over wrong billing. I had to miss a day’s work and take the file for many years’ account to prove it.
And yesterday, my property management firm has asked me to pay my dues or face consequences. I am still looking for the receipts of payments.
Kanwar Hayat, Dubai
UAE currency: the story behind the money in your pockets
MATCH INFO
Uefa Champions League semi-final, first leg
Bayern Munich 1
Kimmich (27')
Real Madrid 2
Marcelo (43'), Asensio (56')
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
Results
Women finals: 48kg - Urantsetseg Munkhbat (MGL) bt Distria Krasniqi (KOS); 52kg - Odette Guiffrida (ITA) bt Majlinda Kelmendi (KOS); 57kg - Nora Gjakova (KOS) bt Anastasiia Konkina (Rus)
Men’s finals: 60kg - Amiran Papinashvili (GEO) bt Francisco Garrigos (ESP); 66kg - Vazha Margvelashvili (Geo) bt Yerlan Serikzhanov (KAZ)
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The BIO:
He became the first Emirati to climb Mount Everest in 2011, from the south section in Nepal
He ascended Mount Everest the next year from the more treacherous north Tibetan side
By 2015, he had completed the Explorers Grand Slam
Last year, he conquered K2, the world’s second-highest mountain located on the Pakistan-Chinese border
He carries dried camel meat, dried dates and a wheat mixture for the final summit push
His new goal is to climb 14 peaks that are more than 8,000 metres above sea level
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
ICC Women's T20 World Cup Asia Qualifier 2025, Thailand
UAE fixtures
May 9, v Malaysia
May 10, v Qatar
May 13, v Malaysia
May 15, v Qatar
May 18 and 19, semi-finals
May 20, final
MISSION: IMPOSSIBLE – FINAL RECKONING
Director: Christopher McQuarrie
Starring: Tom Cruise, Hayley Atwell, Simon Pegg
Rating: 4/5
Is it worth it? We put cheesecake frap to the test.
The verdict from the nutritionists is damning. But does a cheesecake frappuccino taste good enough to merit the indulgence?
My advice is to only go there if you have unusually sweet tooth. I like my puddings, but this was a bit much even for me. The first hit is a winner, but it's downhill, slowly, from there. Each sip is a little less satisfying than the last, and maybe it was just all that sugar, but it isn't long before the rush is replaced by a creeping remorse. And half of the thing is still left.
The caramel version is far superior to the blueberry, too. If someone put a full caramel cheesecake through a liquidiser and scooped out the contents, it would probably taste something like this. Blueberry, on the other hand, has more of an artificial taste. It's like someone has tried to invent this drink in a lab, and while early results were promising, they're still in the testing phase. It isn't terrible, but something isn't quite right either.
So if you want an experience, go for a small, and opt for the caramel. But if you want a cheesecake, it's probably more satisfying, and not quite as unhealthy, to just order the real thing.
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'My Son'
Director: Christian Carion
Starring: James McAvoy, Claire Foy, Tom Cullen, Gary Lewis
Rating: 2/5
UAE currency: the story behind the money in your pockets
The specs
Engine: 3.0-litre six-cylinder MHEV
Power: 360bhp
Torque: 500Nm
Transmission: eight-speed automatic
Price: from Dh282,870
On sale: now
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India squad for fourth and fifth Tests
Kohli (c), Dhawan, Rahul, Shaw, Pujara, Rahane (vc), Karun, Karthik (wk), Pant (wk), Ashwin, Jadeja, Pandya, Ishant, Shami, Umesh, Bumrah, Thakur, Vihari
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
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.”
