The UAE skies will be illuminated by the 'Buck' full moon for three days from Sunday.
It is expected to be a spectacular sight for stargazers and will take place a day after International Moon Day, which commemorates the Apollo Moon landing in 1969.
The Dubai Astronomy Group said that it will become visible in the Emirates at about 7.20pm.
“The optimal time for viewing will be shortly after moonrise when it is closest to the horizon, creating a stunning visual effect,” Khadijah Ahmad, the group's operations manager, told The National.
The event is also known as Thunder Moon, which originates from the Native American tradition, specifically the Algonquin tribes.
They named this full moon after the frequent thunderstorms that occur during this time of year, particularly in the north-east of the US.
July's full moon is also known by other names, such as the Buck Moon, Hay Moon and Wort Moon, reflecting various aspects of nature and agricultural cycles observed by different cultures.
The Maine Farmers' Almanac began publishing these names for full moons in the 1930s and they are now widely used.
“Early summer is normally when the new antlers of buck deer push out of their foreheads in coatings of velvety fur,” Nasa said, referring to the naming of the 'Buck Moon'.
“Europeans called this the Hay Moon for the haymaking in early summer, and sometimes the Mead Moon.
“Mead is created by fermenting honey mixed with water, sometimes adding fruits, spices, grains or hops.”
The Dubai Astronomy Group said it is hosting a free-of-charge viewing event on Saturday from 7pm to 10pm at the Ajman Creative Centre in Al Jurf.
The Buck Moon will peak on Sunday.
The event is also being held to celebrate International Moon Day with the Ministry of Culture.
“Attendees will enjoy a lecture about the significance of Moon Day, the moon landing and supermoons. They will also have the opportunity to observe the moon using telescopes,” said Ms Ahmad.
The next cosmic spectacle is the Perseids meteor shower, set to peak on August 12 and 13.
Perseids are one of the best meteor showers of the year, which leave light and colour behind them as they streak across Earth's atmosphere.
The Sturgeon Moon will appear in the skies on August 19 and will be the first supermoon to grace the skies in the UAE this year.
A supermoon is when the Moon makes its closest approach to Earth, appearing larger than usual.
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- Option 2: 50% across three years
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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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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.”
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Company: Justmop.com
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Sector: Technology and home services
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His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.
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