Triqo. Courtesy Playworld Middle East
Triqo. Courtesy Playworld Middle East
Triqo. Courtesy Playworld Middle East
Triqo. Courtesy Playworld Middle East

Child's play for the grown-ups at Playworld Middle East


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If you see a group of business folk in drab grey suits sitting around with a load of children’s toys sometime this week, they might not be as odd as they look. Playworld Middle East, the only trade show dedicated to kids’ toys in the region, starts today in the Dubai International Convention and Exhibition Centre (Hall 4) and goes on until Thursday. There are six categories of toys on display, from models and electronics to bike and sports equipment, and – probably – not a child in sight to play with them. We’ve gone through the new products that will be exhibited to pick out a few standouts. Obviously, we’re far too old and grown-up to want to actually have a go on them ourselves, just so you’re absolutely clear.

mic o mic Emirates Jet

Localisation is the flavour of the day at the moment, even it seems in toyland. Mic o mic, the colourful and educational toy range from Germany that encourages children to learn through construction, is going to be landing in Playworld Middle East via the mic-o-mic Emirates Jet. Designed by Klaus Micklitz, this DXB-endorsed flying machine will be exhibited by local distributor Desert Beat. Chicken or beef?

www.mic-o-mic.com

FirstBIKE Balance Bike

Not only do FirstBIKE Balance Bikes look rather cool, but they’re also designed to train kids to hone their balancing skills while also helping them learn the correct posture for bike riding (which isn’t, apparently, waving your arms in the air and screaming at everyone in your path), possibly why the bike won 12 awards last year alone. Designed in Germany, they’re being exhibited at Playworld Middle East by the local distributor The Little Mustard Seed. And no, unfortunately, they don’t come in adult sizes (they’re aimed at ages 2-5).

www.firstbike.com

Triqo

Holland, home of clogs, cuckoo clocks and Triqo, a unique construction toy that uses just two forms – a triangle and a square – to offer an endless variety of building opportunities. With 10 different colours available, your child could construct a delightful 3-D flower, a cheery-looking animal or, maybe, as the picture suggests, a gigantic, dark, looming fort in which to entrap their younger sibling. For ages 5 and up.

www.triqo.com

Cobra Study

Generally speaking, kids + paint = a lot of mess. Which is probably why most parents aren’t overjoyed at the prospect of letting their little ones loose with a brush in the living room (especially one with nice magnolia walls). With Cobra Study mixable oil paints from the Dutch arts-and-crafters Royal Talens, however, they can paint anywhere – inside or outside – and, even better, the paints can be mixed and thinned with water (ie, no nasty solvents required) while still giving the same brush strokes and natural gloss as traditional oil paints. Unleash your little Van Goghs, only outside, perhaps.

www.cobra-royal-talens.com

Combat Creatures

Finally, something that fights! We were getting a bit worried about the state of toys today, but these remote-controlled bots from the Canadian inventor Jaimie Mantzel are here to set our minds at rest. The 10-inch tall robot pictured is the Attacknid, which can move easily in any direction and has a 360° rotating head that fires projectiles (foam discs) up to 30 feet. But things get really juicy when you stick two or more in the arena to battle. Once hit, bits of detachable armour fall off and if you strike the main “Battle Brain” area three times, the entire robot shuts down and you win. Rather terrifyingly, the wireless technology allows for more than 40 individually controlled Attacknids to fight at once. Being displayed at Playworld by Simba Toys, Combat Creatures could well be a highlight of the exhibition. Or they might form an army and enslave the whole trade centre.

www.combatcreatures.com

aritman@thenational.ae

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.”

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

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'Manmarziyaan' (Colour Yellow Productions, Phantom Films)
Director: Anurag Kashyap​​​​​​​
Cast: Abhishek Bachchan, Taapsee Pannu, Vicky Kaushal​​​​​​​
Rating: 3.5/5

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