Tea lovers in Dubai and beyond will be making time to squeeze in a sit and sip session when they’re next at Ibn Battuta Mall now that Dilmah has opened its first flagship t-lounge in the UAE.
The t-lounge concept was first brought to life in 2003 by the founder of the world’s largest tea producer - Merrill J. Fernando. Since then it has established itself as a place for tasting a selection of tea and tea concoctions, along with sweet and savoury treats.
The Dilmah t-Lounge Dubai is co-owned by Ajay Sethi, Chairman of Channel 2 Group Corporation, and former Pakistan cricket captain, Ramiz Raja. The pair believe the t-lounge will fill a gap in the market in a country that has high tea consumption.
“Tea is Nature’s gift to mankind and there is no beverage that is quite like tea,” says Fernando. “We have our own tea estate and it’s our commitment to consumers to offer the finest tea that Sri Lanka has to give. Innovation is key to Dilmah and we have offer a variety of blends that don’t compromise on taste and quality.”
Ajay Sethi, Chairman of Channel 2 Group added: “We are delighted to be associated with such a strong and trusted brand like Dilmah. Tea consumption is high and the most preferred beverage in the UAE and the Middle East region. With the new t-lounge, people now have a choice of different exotic tea brews along with other light treats.”
Raja was joined by other well-known international cricketers, including Wasim Akram and Sir Vivien Richards, at the opening of the lounge.
“Tea is very personal to me - I need to have at least 30 to 50 cups a week,” he says. “And I guess everyone can feel the same way that a good cup of tea can simply help to rejuvenate. The t-lounge offers just that, a perfect venue to meet; have a conversation and enjoy Dilmah’s flavourful delectables with a wide selection of tea.”
For details visit www.dilmaht-lounge.com/dubai/
mhealy@thenational.ae
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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.
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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.
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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.”
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Install an air filter in your home.
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Day 3, stumps
India 443-7 (d) & 54-5 (27 ov)
Australia 151
India lead by 346 runs with 5 wickets remaining