At last, a fun modern gadget



Luddite, perhaps is a little strong, but I will admit to being a late adopter of all things tech.

My dad gave me an iPod and, six months later, a friend took it out of its box and loaded music on to it for me. I did buy a Kindle, but after a couple of failed attempts at making it work, I slung it into a drawer and returned to the stack of paperbacks that give my flat character/a chance at ending up on Clean House.

To be fair, I enjoyed turning the Kindle on and off again for the lovely welcome screen images, but I'm not sure that alone was worth the £180 (Dh1,075).

I'm baffled as to why anyone might want an iPhone, despite the app that helps you cheat at the pub quiz and the dark arts way that everything slides across the screen when you wave it. This may be a useful tool to distract a toddler - it is, as far as I can see, a visual rattle - but surely grown-ups shouldn't admit to enjoying it quite so much?

My office-issue BlackBerry has long-been an unloved combination of phone, alarm clock and aid to workaholism. Handily providing me with the ability to receive press releases at 3am on a Friday, it is a bleeping electronic albatross, the red light flashing at me from sunlounger, massage bed and dining table alike. The day I discovered how to disable the noise it makes when an e-mail lands was a joyful one. I savour the moments when it throws a hissy fit and refuses to work - incapable as I am of fixing it myself, I have no choice but to wait until I can take it to the office smart-phone-whisperer.

The hours without the tyranny of the flashing red light are priceless. However, I have always suspected that if I were able to work these gadgets properly, then I might be slightly more enthusiastic about them.

And now, I have made a discovery that promises to be even more exciting than silent mode. I have just been introduced to BBM. Not, as I might previously have thought, an exercise class or some such torturous practice, but a snappy down- with-the-kids acronym for BlackBerry's instant messaging service.

I'm already hooked. I love the fact that you can see the complete thread of your conversation, lending the whole thing a frequently unwarranted veneer of coherence. I love the fact that you can see when somebody is typing, which somehow makes the message more exciting, even if it comes through as, "no taxis. late". I love the fact that Etisalat and HSBC don't have my BBM code, so the message - as opposed to a text - is unlikely to tell me that I owe somebody money or that I have just spent the money that I owe to somebody else. I love the fact that it's basically a bit like having a Gmail chat on really tiny keys.

The only problem? A new icon to watch. Now, next to the little blue box telling me there are 15 Facebook posts I've yet to see, or the yellow rectangle reminding me that I have 1,136 unread e-mails, sits a new red-starred logo demanding to be checked.

At least this one has a smiley face.

THE SPECS

Engine: 6.75-litre twin-turbocharged V12 petrol engine 

Power: 420kW

Torque: 780Nm

Transmission: 8-speed automatic

Price: From Dh1,350,000

On sale: Available for preorder now

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The biog

Born November 11, 1948
Education: BA, English Language and Literature, Cairo University
Family: Four brothers, seven sisters, two daughters, 42 and 39, two sons, 43 and 35, and 15 grandchildren
Hobbies: Reading and traveling

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.”

Wicked
Director: Jon M Chu
Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey
Rating: 4/5
Disclaimer

Director: Alfonso Cuaron 

Stars: Cate Blanchett, Kevin Kline, Lesley Manville 

Rating: 4/5

The years Ramadan fell in May

1987

1954

1921

1888

Citadel: Honey Bunny first episode

Directors: Raj & DK

Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon

Rating: 4/5

SCHEDULE FOR SHOW COURTS

Centre Court - from 4pm (UAE time)
Angelique Kerber (1) v Irina Falconi 
Martin Klizan v Novak Djokovic (2)
Alexandr Dolgopolov v Roger Federer (3)

Court One - from 4pm
Milos Raonic (6) v Jan-Lennard Struff
Karolina Pliskova (3) v Evgeniya Rodina 
Dominic Thiem (8) v Vasek Pospisil

Court Two - from 2.30pm
Juan Martin Del Potro (29) v Thanasi Kokkinakis
Agnieszka Radwanska (9) v Jelena Jankovic
Jeremy Chardy v Tomas Berdych (11)
Ons Jabeur v Svetlana Kuznetsova (7)

End of free parking

- paid-for parking will be rolled across Abu Dhabi island on August 18

- drivers will have three working weeks leeway before fines are issued

- areas that are currently free to park - around Sheikh Zayed Bridge, Maqta Bridge, Mussaffah Bridge and the Corniche - will now require a ticket

- villa residents will need a permit to park outside their home. One vehicle is Dh800 and a second is Dh1,200. 

- The penalty for failing to pay for a ticket after 10 minutes will be Dh200

- Parking on a patch of sand will incur a fine of Dh300

COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
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