The fillet steak was tender - and huge.
The fillet steak was tender - and huge.

Defeated by dessert



We were warned about the desserts. The waiter told us that they were big in the kind of hushed tones someone might use when calling the emergency services and explaining that King Kong has just shimmied up the side of their apartment building. My dining partner's apple crumb tart was simply enormous. It was so big, she could conceivably have fitted a door in the side of it and moved in. Instead she chipped away at the rugged streusel crust with a spoon, but she'd have been better equipped with a shovel. When she'd finally penetrated the boulders of pastry, the hunks of Granny Smith apples inside were sweet with just a hint of tartness, and the side-scoop of vanilla bean ice cream provided cool and creamy relief from the insurmountable task of making a dent in the tart.

To be fair to the waiter, he'd advised us to share one dessert between the two of us. But in the interests of research, I bravely ordered the cheesecake. I wondered if the local authorities had granted planning permission for such a humongous confection. It was as deep and round as a swimming pool, and it brimmed with an intensely creamy cheesecake filling, garnished with sweetly tart fresh berries. To the waiter's credit, he was able to manoeuvre the leftover puddings into a doggy bag without the assistance of a Caterpillar truck. Ruth's Chris Steak House is used to providing doggy bags.

Let's rewind to the beginning. When we entered this recently opened New Orleans-style chain steakhouse at The Monarch hotel, we thought that the clean, contemporary and sophisticated decor might reflect the modern trend of lighter portions. But as soon as we received our starters we realised the portions were going to be huge. My companion's "crabtini" seafood cocktail featured a substantial helping of delicate white crabmeat and shreds of salad leaves mixed with a white Creole remoulade sauce that made the dish far too heavy for her to finish - especially as she knew that the next course would involve a large hunk of red meat. I opted for the Louisiana seafood gumbo, which appeared to be significantly more gumbo than seafood. Nevertheless, the portion was large and augmented by a mound of rice soaked into softness in the rich, ruddy broth.

The steaks arrived sizzling in butter, at a temperature of "500 degrees Fahrenheit" (260°C), if the menu is to be believed. Prior to this, the custom-aged Midwestern beef had apparently been broiled at 1,800°F (980°C) to seal in the corn-fed flavour. But again, all we could think about at this stage was the sheer size of them. My friend's fillet was a glistening edifice of stupendously tender rare meat that could easily have fed her for two days running. But even that paled into insignificance next to my cowboy rib-eye, which was served on the bone and resembled something John Wayne would have had trouble overcoming. The rare steak was heavily marbled and gristly in places, yet it possessed a richness of flavour lacking in the super-soft fillet. And boy, do they breed those Midwestern American cows big. Assuming, of course, that they really are cows and not elephants.

And there was more. Perhaps we should have taken things a little easier, but we couldn't resist complementing the meat with the creamiest of mashed potatoes with garlic, a logpile of fresh asparagus with hollandaise sauce, and a bashed up bird's nest of thin and crispy shoestring potatoes. So it's little surprise that, when confronted with desserts the size of small independent nations, we fell a little short.

Monarch hotel, Sheikh Zayed Road, Dubai, 04 501 8666. Average price of a meal for two, Dh900-1000.

Skewed figures

In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458. 

What are the influencer academy modules?
  1. Mastery of audio-visual content creation. 
  2. Cinematography, shots and movement.
  3. All aspects of post-production.
  4. Emerging technologies and VFX with AI and CGI.
  5. Understanding of marketing objectives and audience engagement.
  6. Tourism industry knowledge.
  7. Professional ethics.
The National's picks

4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young

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.”

Profile

Name: Carzaty

Founders: Marwan Chaar and Hassan Jaffar

Launched: 2017

Employees: 22

Based: Dubai and Muscat

Sector: Automobile retail

Funding to date: $5.5 million

Company%20profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20WallyGPT%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2014%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3ESaeid%20and%20Sami%20Hejazi%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%3Cbr%3E%3Cstrong%3EInvestment%20raised%3A%20%3C%2Fstrong%3E%247.1%20million%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%3C%2Fstrong%3E%2020%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3EPre-seed%20round%3C%2Fp%3E%0A
The biog:

Languages: Arabic, Farsi, Hindi, basic Russian 

Favourite food: Pizza 

Best food on the road: rice

Favourite colour: silver 

Favourite bike: Gold Wing, Honda

Favourite biking destination: Canada 

The White Lotus: Season three

Creator: Mike White

Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EDate%20started%3A%3C%2Fstrong%3E%202020%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Khaldoon%20Bushnaq%20and%20Tariq%20Seksek%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Abu%20Dhabi%20Global%20Market%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20HealthTech%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%3C%2Fstrong%3E%20100%3Cbr%3E%3Cstrong%3EFunding%20to%20date%3A%3C%2Fstrong%3E%20%2415%20million%3C%2Fp%3E%0A
Test

Director: S Sashikanth

Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan

Star rating: 2/5

How to help

Call the hotline on 0502955999 or send "thenational" to the following numbers:

2289 - Dh10

2252 - Dh50

6025 - Dh20

6027 - Dh100

6026 - Dh200

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