If video killed the radio star, then the internet pretty much killed anticipation. With most goods and services just a couple of clicks away, attention spans are waning and patience is wearing thin. So, buckle up and sit tight for a Gen X gripe.
I am married to a menu sleuth. This means that no matter how far ahead the restaurant is booked, my husband will know exactly what he’s going to order when we get there. He knew what he was going to eat when went to Rang Mahal (peppered lamb chop, butter naan); Pitfire Pizza (Pepperoni Primo, garlic knots) and The Maine (600g rib-eye, triple-cooked fries and steamed broccolini, please), to name but a few.
His rationale for sleuthing is that he can start looking forward to his dinner in advance. Perhaps pre-planning any belt-loosening which might be necessary, or what colour shirt to wear following the infamous sushi-dropped-in-soy-sauce-while-wearing-white-shirt incident of 2013, which remains a sore subject to this day.
Sleuth is an interesting word. Think sleuth and the likes of Poirot, Miss Marple or Sherlock Holmes spring to mind. The sleuth is cerebral and measured, their decisions thoughtful, their actions deliberate. All of which must make me a Menu Moriarty, forever wondering why anyone would willingly forfeit the joyous spontaneity that comes from being presented with a list of never-seen-before choices and experiencing the thrill of thinking: “Oooh, what shall I have?”
Perusing the menu is part of the whole restaurant experience, along with that awkward pull-out-sit-down chair dance between you and the maitre d', which I have never quite mastered. And the frosting on the cake – the cherry is the actual arrival of the food – is discussing the menu together. “This looks nice,” you might say, pointing to something featuring heirloom tomatoes and a balsamic glaze. “Did you see that they have…,” your dining companion might reply, having spotted a dish you like. But if you already know what you’re going to have thanks to menu sleuthing, this removes or at least seriously impairs the casual chatter that is part of the restaurant experience.
Those who know me might assume I would be a big fan of menu sleuthing, because I am that most wretched of dinner party guests: the picky eater. My pickiness is esoteric and, even though I say it myself, both adorable and quirky. For example, I like prawns, but only the small ones, because the big meaty ones freak me out. I am not a vegetarian and enjoy a good steak, but if I’m invited to a dinner party at your house, I will tell you that I am vegetarian because I dislike meat being cooked for me if I cannot personally oversee its preparation. And what host doesn’t love a guest in their kitchen prodding at the chicken fricassee and asking: “Are you sure it’s done on the inside?”
In my defence, I had a bad experience once with a pink chicken at a dinner party, from which I have never fully recovered.
Am I against restaurants having their menus online? Of course not. For those who are picky (not me, obviously, other people), have allergies or certain preferences it can be useful. But if you’re Googling the menu just to decide what you’re going to eat three weeks from now, quite frankly, you’re abusing the system and should have your internet privileges revoked. If it’s a steak restaurant, let’s assume there’ll be steak and a vegetarian option based around cauliflower, or worst case scenario, a salad. If it’s an Italian restaurant, assume variations on pasta will be available, and so forth. You don’t need to know exactly what’s on the menu.
For me it comes down to the fact there’s not much mystery in life these days. For every vague question you have, there’s thousands of YouTube videos explaining, debunking and offering alternative theories to the answer. For every passing query there’s a plethora of TikToks, Instagram posts and hashtags dedicated to examining every angle while also suggesting you get ready with them and enjoy their outfit of the day.
For me, menu sleuthing removes a little bit of the fun, anticipatory not-knowingness that comes from discovering a new restaurant. I just told my husband I’ve written this column about him. “I’m not sure about sleuth,” he said. “I’d call it being a connoisseur.”
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.”
The specs: 2019 Mercedes-Benz C200 Coupe
Price, base: Dh201,153
Engine: 2.0-litre turbocharged four-cylinder
Transmission: Nine-speed automatic
Power: 204hp @ 5,800rpm
Torque: 300Nm @ 1,600rpm
Fuel economy, combined: 6.7L / 100km
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