Festivities are under way for Nowruz, popularly known as the Persian New Year.
Believed to have been celebrated for more than 3,000 years, the festival is held on the spring equinox to usher in the blooming season. Around 300 million people celebrate the occasion, though the start dates can vary between countries.
It can be traced back to the ancient religion Zoroastrianism but has evolved to become a secular celebration, observed by people with Silk Road roots, including those from Afghanistan, Albania, Azerbaijan, Georgia, Iran, India, Kazakhstan, Kosovo, Kyrgyzstan, Mongolia, Tajikistan, Turkmenistan and Uzbekistan, as well as Kurds across the Middle East.
Nowruz is a combination of the Farsi words “now”, meaning “new”, and “ruz”, meaning “day”.
When is Nowruz?
The start of Nowruz varies in different countries because of time zones. It is marked during the vernal equinox, or the astronomical start of spring in the Northern Hemisphere. This year, the festival starts on Thursday, March 20, in Iran.
Similar to last year, Iranian artist Pendar Yousefi has created a Google Doodle for the occasion. The artwork incorporates elements central to Nowruz traditions, such as the haft-sin table, a display of seven symbolic items each beginning with the Persian letter “sin”. These are sprouts for rebirth, wheat pudding for strength, olives for love, berries for the sunrise, vinegar for patience, apples for beauty and garlic for health.
There are also depictions of activities during Nowruz, such as spring cleaning to prepare for a fresh start, decorating eggs, and even leaping over a bonfire, which is believed to cleanse energy from the previous year and invite vitality in the future. The Google Doodle appeared on the search engine on Thursday in several countries, including Afghanistan, India, Pakistan, the UK and Canada.
Celebrating Nowruz was added to the Unesco list of Intangible Cultural Heritage in 2009. Updated annually, the list by the UN agency safeguards traditions and ways of living in the face of increasing globalisation. In 2010, the UN declared March 21 as International Nowruz Day.
How is Nowruz celebrated?
Festivities typically run for two weeks. While there are many unique traditions connected to the celebration around the world, almost all communities will mark the day with a feast and by spending time with family and friends.
People also give their homes a spring clean, buy auspicious items such as fish and flowers, and decorate their doors and windows with flowers.
Many set their tables based on haft-sin. While buying sweets and nuts is common, most people also have certain go-to dishes during Nowruz, including sabzi polo mahi, or herbed rice with fish. It is traditionally served as the first meal of the new year in Iran.
In Kurdish households, dolma or rice-stuffed vegetables, are a staple. Popular sweets include raisin and walnut cookies, and nan-e nokhodchi or Persian chickpea cookies.
To celebrate, people light bonfires, set off fireworks and send wish lanterns floating into the night sky. Others jump over and around fires, chanting: “My yellow is yours, your red is mine,” invoking the replacement of ills with warmth and energy.
In more regional celebrations, people in Kyrgyzstan display traditional horsemanship to mark the arrival of the new year.
Greetings during the festival include “Happy Nowruz” and “Nowruz Mubarak”.
Nowruz during Ramadan
While Nowruz is a secular festival for many of the communities that celebrate it, it remains a holy day for Zoroastrians and people of the Baha'i Faith.
This year, however, it falls during Ramadan when Muslims fast during the day. In Iran, tourism minister Reza Salehi Amiri said that Nowruzgahs – cultural events held to mark Nowruz – will be held after the evening iftar meals until midnight.
“We have formed a dedicated committee to ensure that Nowruzgah activities align with the sanctity of Ramadan while maintaining the celebratory essence of Nowruz,” he told state news agency Irna.
Electric scooters: some rules to remember
- Riders must be 14-years-old or over
- Wear a protective helmet
- Park the electric scooter in designated parking lots (if any)
- Do not leave electric scooter in locations that obstruct traffic or pedestrians
- Solo riders only, no passengers allowed
- Do not drive outside designated lanes
UAE currency: the story behind the money in your pockets
Suggested picnic spots
Abu Dhabi
Umm Al Emarat Park
Yas Gateway Park
Delma Park
Al Bateen beach
Saadiyaat beach
The Corniche
Zayed Sports City
Dubai
Kite Beach
Zabeel Park
Al Nahda Pond Park
Mushrif Park
Safa Park
Al Mamzar Beach Park
Al Qudrah Lakes
Name: Peter Dicce
Title: Assistant dean of students and director of athletics
Favourite sport: soccer
Favourite team: Bayern Munich
Favourite player: Franz Beckenbauer
Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates
Company%20Profile
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UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
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.”
UK’s AI plan
- AI ambassadors such as MIT economist Simon Johnson, Monzo cofounder Tom Blomfield and Google DeepMind’s Raia Hadsell
- £10bn AI growth zone in South Wales to create 5,000 jobs
- £100m of government support for startups building AI hardware products
- £250m to train new AI models