I was disappointed the way the drivers treated my 10-year-old son on Thursday at Yas Marina. He has spent weeks selling stuff to get enough money so he could buy F1 merchandise and then spent well over an hour queuing in the sun in the vain attempt to get some of it autographed. The advertised time that drivers would be signing memorabilia was 20 minutes, yet they spent just over five minutes doing so, leaving lots of people feeling angry.
This is not the way to inspire fans of the future.
DW King, Abu Dhabi
Education key to reducing suicide among Indians
I am sad to learn that so many Indians commit suicide in the UAE (Spiralling debts and shame drive dozens of Indians to suicide in UAE, October 30).
The rate of suicide is high in countries where people face social and economic pressure. Suicide rates are high in India because of that reason. But it is unfortunate that so many Indians cannot escape the inevitable even though they come to the UAE with the dream to avoid that pressure.
Pressure increases here as expectations from families back home increase. For a large number of people in India, Dubai is particularly associated with wealth.
The problem is that many people who have little education think that it’s easier to acquire wealth in Dubai than any other part of the planet. Many people come to work in the UAE with that hope of easy money.
Financial literacy is important to dissuade these people from taking extreme steps when they fail to achieve their dreams, but I think it is more important to tell them to be realistic when they come here. The Indian government should take the responsibility to counsel people before they leave the country.
If individuals and corporates can shoulder the responsibility to educate these people, there is no reason why the Indian government cannot do its bit.
Peter Dominic, Abu Dhabi
Punishment too lenient for crime
I am writing about the news item Jail for man who blinded American teacher in Dubai bar brawl (October 31).
I am sad that the attacker got a mere six months for blinding and disfiguring a woman over a chair.
Name withheld by request
‘Chat’ language good for nothing
I am responding to the article, A 'chat' language derived from Arabic and English – progress or problem? (October 31).
Clearly it’s a major problem, because in this manner people can neither be fluent in Arabic nor in English. It won’t do any good to either of these beautiful languages.
Fatima Suhail, Dubai
Capital’s utility services laudable
I was impressed with the need for more utilities infrastructure that was set out in the article GCC utility companies face power and water challenges (November 2).
As someone who has lived in Abu Dhabi for more than two years, I must say I have a lot of confidence in the utility services here. I have not experienced a single power or water outage, something I could never have said in my native Canada, where I lived in an old city with antique water pipes, some of them made of wood. The real challenge for Abu Dhabi, I suppose, will come in a few decades when so much of the systems built in the last 20 years will need to be replaced, many of them possibly all at once.
So far so good, and I hope those in charge keep doing as well as they have done so far.
Elizabete Baums, Abu Dhabi
Gas prices in Asia will see correction
I refer to the business news article US shale export ambitions will not weigh in on gas prices yet, says Qatar gas chief (October 28).
The classic theory of demand, supply and price being dependent variables hasn’t gone away.
The US was caught napping by the shale gas boom. LNG, handling ports, pipeline infrastructure and shale gas from other sources are all coming. A price adjustment downward in the Asian market is inevitable barring supply disruptions induced by geopolitical aberrations.
Prodeep Mookerjee, Dubai
UK's plans to cut net migration
Under the UK government’s proposals, migrants will have to spend 10 years in the UK before being able to apply for citizenship.
Skilled worker visas will require a university degree, and there will be tighter restrictions on recruitment for jobs with skills shortages.
But what are described as "high-contributing" individuals such as doctors and nurses could be fast-tracked through the system.
Language requirements will be increased for all immigration routes to ensure a higher level of English.
Rules will also be laid out for adult dependants, meaning they will have to demonstrate a basic understanding of the language.
The plans also call for stricter tests for colleges and universities offering places to foreign students and a reduction in the time graduates can remain in the UK after their studies from two years to 18 months.
Cryopreservation: A timeline
- Keyhole surgery under general anaesthetic
- Ovarian tissue surgically removed
- Tissue processed in a high-tech facility
- Tissue re-implanted at a time of the patient’s choosing
- Full hormone production regained within 4-6 months
COMPANY PROFILE
Company name: SimpliFi
Started: August 2021
Founder: Ali Sattar
Based: UAE
Industry: Finance, technology
Investors: 4DX, Rally Cap, Raed, Global Founders, Sukna and individuals
Which honey takes your fancy?
Al Ghaf Honey
The Al Ghaf tree is a local desert tree which bears the harsh summers with drought and high temperatures. From the rich flowers, bees that pollinate this tree can produce delicious red colour honey in June and July each year
Sidr Honey
The Sidr tree is an evergreen tree with long and strong forked branches. The blossom from this tree is called Yabyab, which provides rich food for bees to produce honey in October and November. This honey is the most expensive, but tastiest
Samar Honey
The Samar tree trunk, leaves and blossom contains Barm which is the secret of healing. You can enjoy the best types of honey from this tree every year in May and June. It is an historical witness to the life of the Emirati nation which represents the harsh desert and mountain environments
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.”
More on Quran memorisation:
The five pillars of Islam
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
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.
