From hand-knotted, traditional silk to contemporary designer pieces, rugs set the tone for a room and deserve serious attention. Here's what to look for when considering one
There can be few homes in the UAE without a rug - an item synonymous with the region's culture and history. The tiled bare floors typical of many properties here cry out to be covered with soft, plush woollen weaves or delicate silken knots. And from the handmade Iranian and Afghan carpets in the souqs to the rare, historic specimens sold by specialist dealers and the high-end contemporary or bespoke designs, the choice of styles is mesmerising.
Since a rug will be a significant focal point of your room, particularly in the featureless magnolia-painted living spaces many of us occupy, its purchase should afford some serious consideration.
"A rug can be a real statement piece around which a room is anchored," says Chris Sharp, a co-founder of The Rug Company, which opened its Dubai branch in DIFC in 2009.
"A multicoloured rug can bring together a variety of different colour accents in a room, while a statement rug in one bold colour can transform a room in an instant."
Sharp and his wife, Suzanne, set up the company in 1997, after they returned from several years working in Saudi Arabia. It was in the carpet of the souqs of Riyadh, Sharp says, that their passion for rugs and collecting them turned into a career and business. "Rugs are beautiful, distinctive, meaningful and have long-lasting value," he says. "Each rug is unique. Each one tells its own story."
Specialist shops such as The Rug Company offer a good range of sizes and styles of hand-knotted pieces from a variety of origins. But before you even head out to make your purchase, you need to measure the space where the rug will go. There are a wide range of sizes and shapes available, so you will definitely find one to fit (common sizes are 1.5 x 2.4 metres, or 5 x 7.5 feet, though you can also find square rugs and long, rectangular runners).
For handmade carpets with traditional, regional designs, seek out shops such as The Red Carpet (Mall of the Emirates), National Iranian Carpets (Dubai Mall and Mall of the Emirates), Tehran Persian Carpet & Antiques and Emad Carpet (both Dubai Mall). For contemporary wool carpets, go to Stepevi and Merinos, also in Dubai Mall.
Shadab Mir, the CEO of Kani carpets, which has dealt in carpets and rugs for six generations, says the most important consideration when choosing a rug is your budget. Machine-made carpets can cost from a few hundred dirhams, but if you want a quality, handmade piece you must be prepared to pay more. "Depending on its quality and its number of knots, the cost of a woollen carpet bought from a specialist shop will cost from Dh4,000," says Mir. "For a silk carpet, you can pay up to Dh60,000."
If you're in search of a bargain, head for Sharjah's Central Souq, also known as the Blue Souq, where a basic Afghan or Kashmiri rug can be had for under Dh1,000. The buying process will inevitably involve much toing and froing; rugs will be fetched from back rooms and behind others, and extravagantly unrolled at your feet in an ever-mounting pile. It's all part of the fun, and while there will be lots of talk about quality, rarity and value, the only thing never mentioned is the price. It is always dismissed with wave of the hand and "for you I make a very good price, special price". Haggling, of course, is expected. Shopping for a rug in the souq is an almost ritualised process, a pas-de-deux between seller and customer, with the vendor's finest and most opulent wares quite literally laid out in front of you.
It's easy to be overwhelmed by the choices on offer, so it's important to consider what you want from your rug. Carpets with a pile are more durable than woven kilims, for example, though a good one can give great service for a hundred years or more. Think about patterns; Iranian designs tend to be cursive and floral, while rugs from the tribal areas in the north are more typically "Caucasian" in style, with geometric shapes and straighter lines.
Another factor in your decision should be the rug's quality. George Ignatius D'costa, who runs Al Mashi Carpet in the souq, selling handmade carpets from remote tribal regions of Afghanistan, Iran, Pakistan, Jaipur and Kashmir, advises that when choosing a carpet, you should always look at the back, where you'll see the quality of workmanship most clearly.
"Firstly you need to identity if a rug is made from wool, silk or cotton," he says. "As a rule, the finest rugs are made with wool or silk only. Look for rich colours, strong patters, smooth and regular knots. The higher the number of knots, the better the quality."
"You should also examine the colour combination used," adds Shadab Mir. "In a high-quality carpet there are 15 to 16 different colours used and the combination of colours is very critical as no two colours should clash with each other. The more intricate the carpet, the more beautiful it is. Wool carpets can be up to 600 knots per inch; the best quality silk can be twice that."
Mir believes that buying a quality handmade rug is now the equivalent to investing in gold and says that by doing so, you are helping to support a dying art. "Nowadays nobody wants to weave carpets as its very tedious and needs a lot of patience and passion," he explains. "I foresee in the next 20 years that no one will be weaving hand-knotted carpets, and so they will become a rare commodity."
Kani's carpets are made by hand by teams of weavers in Kashmir. Depending on the quality, on average a 2x3-metre carpet would take around 20 months. "No matter how expensive the fabric is, how high the knots are, it is the creator that has the power to make it look beautiful," he says. "When you buy a painting, you don't quantify the painting depending on the quality of the canvas and the amount of paint used. It's the artisan and his hand that matter the most. If delicate details woven into mystical pieces of art are what you are looking for, go for an authentic hand-woven masterpiece."
Chris Sharp agrees that craftsmanship is everything. It even determines a rug's durability. "Tufted rugs do not last as long as hand-knotted rugs, for instance. But handmade rugs are incredibly durable. The natural oil in the wool we use acts as a barrier to spillages and stains, so they're very easy to maintain. If a rug is in a high-traffic area, then a general clean once a year will keep it looking new."
Another important consideration is the rug's origin. Most of The Rug Company's are woven by hand in Nepal, and Sharp prides himself that his products are made ethically as part of the Goodweave scheme.
"It's essential to us that our rugs are made in an ethically and environmentally responsible way. We have fantastic weaving houses, which we've worked with for over 12 years now, and have always been proud of the fact that we play a major part in keeping a traditional craft alive. The Goodweave scheme allows us to confidently communicate this to our clients with an increased degree of transparency. A percentage of the cost of all rugs bearing the Goodweave label is used to provide schooling and other welfare support to workers, their families and communities. "
The company also offers a bespoke design service at all its stores. "We have always encouraged our customers wanting something truly unique and exclusive to explore the endless possibilities of rug design," says Sharp. "This can be either simply adapting an existing rug design, tailored to suit the client's interior, or specially commissioning and designing a rug from scratch. We have a selection of over 1,400 colours to choose from, and can colour match to a fabric, paint or wallpaper sample. We can use a variety of yarns, weaving techniques and pile heights to create beautiful effects and textures."
In terms of current trends, Sharp says that unlike fashion, fads for the home are less transient. "Our collections are about timeless design that will feel contemporary and fresh for many years. That said, we have noticed that our geometric collections are doing very well worldwide. They're bold statements and people enjoy bespoking the colours and creating their own, unique pieces." One of their most popular designs is Swirl by Paul Smith. "It has become an iconic rug. It has stood the test of time and continues to be one of our bestsellers. It never falls from favour."
Care and maintenance
Vaccum clean a carpet against the pile so that all the dust comes out.
Rotate your rug regularly.
Never use a commercial stain remover for handmade rugs.
For minor spills use a white cloth, warm water and a gentle detergent; the type you'd use on a cashmere jumper. A light dabbing (rather than scrubbing) on the localised stain normally does the trick.
The Rug Company can recommend a local rug cleaner or restorer. If in doubt, always ask a professional.
For spills on a silk rug, clean it immediately and rub a lemon on the stain. Clean it with a wet cloth.
Handmade hand-knotted rugs need washing (depending on the traffic) yearly. Never give it to a dry cleaner. Always go for oriental carpet washers.
Sun damage shouldn't be an issue with a quality carpet made using fine dyes, although some fading over many years in direct sunlight should be expected.
Style tips
Take a swatch or cushion cover with you to match, though most vendors will be happy to let you see your potential purchase in situ. For some, this is a preferred selling technique, leaving a rug or two with you in your home for a few weeks "to see if you like it". Once in place, it's often much easier to hand over the cash than return the rug.
A large rug acts as an anchor in a room, bringing a sense of unity.
If you are attempting to break up a room, a number of smaller rugs can define different areas subtly but effectively, particularly in an open-plan space.
Don't be afraid to use colour. A multicoloured rug can bring together a variety of accents, while a statement rug in one bold colour can transform a room in an instant.
Dyes can be vegetable-based or chemical. Chemical dyes tend to be stronger and offer colours that vegetable-based dyes do not - purple in particular. Vegetable dyes are generally softer in colour, will fade a little over time and have a slight natural variability that is part of their charm.
A more neutral design that will blend seamlessly into the space giving an overall tranquil appearance.
The basics: Sharjah Blue Souq
Start by visiting several different vendors to see the sort of carpets they sell and to talk to the sellers. Finding a seller you like and trust is probably the single most important step in buying a rug because a good one will look after you well, and you'll keep going back for years.
Prices range enormously, from under Dh1,000 to many tens of thousands, depending on the size, quality and materials. Silk is much more expensive than wool - where a basic Afghan rug can be had from about Dh1,500, you probably won't find a decent silk rug or wall hanging under Dh10,000. Many hand-knotted rugs have a "sheen". The colours look different depending on which direction you look at them. Colours are much darker when viewed from the end from which the carpet was started.
Machine-made rugs will look more regular and precise than handmade.
Always look at the back of the rug, where you'll see the quality of workmanship. Look for rich colours, strong patterns and regular knots.
Take your time. Choosing and buying a carpet is not something to do on a whim.
Haggling is expected. You should pay 60 to 70 per cent of the asking price.
If you're not happy with the deal, walk away. There are plenty of other vendors and carpets. But if you are happy, pay the price with good grace and you'll get a great deal every time you go back.
The Blue Souq is across the lagoon from Al Jazeera Park in Sharjah. Shops open every day from 9am to 1.30pm and again from 4.30 until 10pm. On Fridays, it's only open evenings. Most of the rug sellers are at the north end of Block B, on the first floor.
Squid Game season two
Director: Hwang Dong-hyuk
Stars: Lee Jung-jae, Wi Ha-joon and Lee Byung-hun
Rating: 4.5/5
EA Sports FC 25
Developer: EA Vancouver, EA Romania
Publisher: EA Sports
Consoles: Nintendo Switch, PlayStation 4&5, Xbox One and Xbox Series X/S
Rating: 3.5/5
MATCH INFO
Uefa Champions League, Group C
Liverpool v Red Star Belgrade
Anfield, Liverpool
Wednesday, 11pm (UAE)
Reading List
Practitioners of mindful eating recommend the following books to get you started:
Savor: Mindful Eating, Mindful Life by Thich Nhat Hanh and Dr Lilian Cheung
How to Eat by Thich Nhat Hanh
The Mindful Diet by Dr Ruth Wolever
Mindful Eating by Dr Jan Bays
How to Raise a Mindful Eaterby Maryann Jacobsen
Results
5pm: Maiden (PA) Dh80,000 (Turf) 1,000mm, Winners: Mumayaza, Fabrice Veron (jockey), Eric Lemartinel (trainer)
5.30pm: Wathba Stallions Cup Handicap (PA) Dh70,000 (T) 2,200m, Winners: Sharkh, Pat Cosgrave, Helal Al Alawi
6pm: The President’s Cup Prep - Conditions (PA) Dh100,000 (T) 2,200m, Winner: Somoud, Richard Mullen, Jean de Roualle
6.30pm: Handicap (PA) Dh90,000 (T) 1,600m, Winner: Harrab, Ryan Curatolo, Jean de Roualle
7pm: Abu Dhabi Equestrian Gold Cup - Prestige (PA) Dh125,000 (T) 1,600m, Winner: Hameem, Adrie de Vries, Abdallah Al Hammadi
7.30pm: Al Ruwais – Group 3 (PA) Dh300,000 (T) 1,200m, Winner: AF Alwajel, Tadhg O’Shea, Ernst Oertel
8pm: Maiden (TB) Dh80,000 (T) 1,400m, Winner: Nibras Passion, Bernardo Pinheiro, Ismail Mohammed
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
UAE’s revised Cricket World Cup League Two schedule
August, 2021: Host - United States; Teams - UAE, United States and Scotland
Between September and November, 2021 (dates TBC): Host - Namibia; Teams - Namibia, Oman, UAE
December, 2021: Host - UAE; Teams - UAE, Namibia, Oman
February, 2022: Hosts - Nepal; Teams - UAE, Nepal, PNG
June, 2022: Hosts - Scotland; Teams - UAE, United States, Scotland
September, 2022: Hosts - PNG; Teams - UAE, PNG, Nepal
February, 2023: Hosts - UAE; Teams - UAE, PNG, Nepal
TOURNAMENT INFO
Women’s World Twenty20 Qualifier
Jul 3- 14, in the Netherlands
The top two teams will qualify to play at the World T20 in the West Indies in November
UAE squad
Humaira Tasneem (captain), Chamani Seneviratne, Subha Srinivasan, Neha Sharma, Kavisha Kumari, Judit Cleetus, Chaya Mughal, Roopa Nagraj, Heena Hotchandani, Namita D’Souza, Ishani Senevirathne, Esha Oza, Nisha Ali, Udeni Kuruppuarachchi
Dunki
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Yahya Al Ghassani's bio
Date of birth: April 18, 1998
Playing position: Winger
Clubs: 2015-2017 – Al Ahli Dubai; March-June 2018 – Paris FC; August – Al Wahda
RACE SCHEDULE
All times UAE ( 4 GMT)
Friday, September 29
First practice: 7am - 8.30am
Second practice: 11am - 12.30pm
Saturday, September 30
Qualifying: 1pm - 2pm
Sunday, October 1
Race: 11am - 1pm
Scores in brief:
Day 1
New Zealand (1st innings) 153 all out (66.3 overs) - Williamson 63, Nicholls 28, Yasir 3-54, Haris 2-11, Abbas 2-13, Hasan 2-38
Pakistan (1st innings) 59-2 (23 overs)
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
Left Bank: Art, Passion and Rebirth of Paris 1940-1950
Agnes Poirer, Bloomsbury
Company%20profile
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IF YOU GO
The flights
FlyDubai flies direct from Dubai to Skopje in five hours from Dh1,314 return including taxes. Hourly buses from Skopje to Ohrid take three hours.
The tours
English-speaking guided tours of Ohrid town and the surrounding area are organised by Cultura 365; these cost €90 (Dh386) for a one-day trip including driver and guide and €100 a day (Dh429) for two people.
The hotels
Villa St Sofija in the old town of Ohrid, twin room from $54 (Dh198) a night.
St Naum Monastery, on the lake 30km south of Ohrid town, has updated its pilgrims' quarters into a modern 3-star hotel, with rooms overlooking the monastery courtyard and lake. Double room from $60 (Dh 220) a night.
The specs
Engine 60kwh FWD
Battery Rimac 120kwh Lithium Nickel Manganese Cobalt Oxide (LiNiMnCoO2) chemistry
Power 204hp Torque 360Nm
Price, base / as tested Dh174,500
At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
Scorecard
Scotland 220
K Coetzer 95, J Siddique 3-49, R Mustafa 3-35
UAE 224-3 in 43,5 overs
C Suri 67, B Hameed 63 not out
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
RACE CARD
6.30pm: Madjani Stakes Group 2 (PA) Dh97,500 (Dirt) 1,900m
7.05pm: Maiden (TB) Dh82,500 (D) 1,400m
7.40pm: Maiden (TB) Dh82,500 (D) 1,600m
8.15pm: Handicap (TB) Dh87,500 (D) 2,200m
8.50pm: Dubai Creek Mile Listed (TB) Dh132,500 (D) 1,600m
9.25pm: Conditions (TB) Dh120,000 (D) 1,900m
10pm: Handicap (TB) Dh92,500 (D) 1,400m
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
Company%20profile
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How will Gen Alpha invest?
Mark Chahwan, co-founder and chief executive of robo-advisory firm Sarwa, forecasts that Generation Alpha (born between 2010 and 2024) will start investing in their teenage years and therefore benefit from compound interest.
“Technology and education should be the main drivers to make this happen, whether it’s investing in a few clicks or their schools/parents stepping up their personal finance education skills,” he adds.
Mr Chahwan says younger generations have a higher capacity to take on risk, but for some their appetite can be more cautious because they are investing for the first time. “Schools still do not teach personal finance and stock market investing, so a lot of the learning journey can feel daunting and intimidating,” he says.
He advises millennials to not always start with an aggressive portfolio even if they can afford to take risks. “We always advise to work your way up to your risk capacity, that way you experience volatility and get used to it. Given the higher risk capacity for the younger generations, stocks are a favourite,” says Mr Chahwan.
Highlighting the role technology has played in encouraging millennials and Gen Z to invest, he says: “They were often excluded, but with lower account minimums ... a customer with $1,000 [Dh3,672] in their account has their money working for them just as hard as the portfolio of a high get-worth individual.”
Abu Dhabi GP schedule
Friday: First practice - 1pm; Second practice - 5pm
Saturday: Final practice - 2pm; Qualifying - 5pm
Sunday: Etihad Airways Abu Dhabi Grand Prix (55 laps) - 5.10pm
TO A LAND UNKNOWN
Director: Mahdi Fleifel
Starring: Mahmoud Bakri, Aram Sabbah, Mohammad Alsurafa
Rating: 4.5/5
WITHIN%20SAND
%3Cp%3EDirector%3A%20Moe%20Alatawi%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Ra%E2%80%99ed%20Alshammari%2C%20Adwa%20Fahd%2C%20Muhand%20Alsaleh%3C%2Fp%3E%0A%3Cp%3ERating%3A%203%2F5%3C%2Fp%3E%0A
Mountain%20Boy
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Zainab%20Shaheen%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Naser%20Al%20Messabi%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3C%2Fstrong%3E%3A%203%2F5%3C%2Fp%3E%0A
UAE SQUAD
Goalkeepers: Ali Khaseif, Fahad Al Dhanhani, Mohammed Al Shamsi, Adel Al Hosani
Defenders: Bandar Al Ahbabi, Shaheen Abdulrahman, Walid Abbas, Mahmoud Khamis, Mohammed Barghash, Khalifa Al Hammadi, Hassan Al Mahrami, Yousef Jaber, Mohammed Al Attas
Midfielders: Ali Salmeen, Abdullah Ramadan, Abdullah Al Naqbi, Majed Hassan, Abdullah Hamad, Khalfan Mubarak, Khalil Al Hammadi, Tahnoun Al Zaabi, Harib Abdallah, Mohammed Jumah
Forwards: Fabio De Lima, Caio Canedo, Ali Saleh, Ali Mabkhout, Sebastian Tagliabue
How to help
Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
2252 – Dh 50
6025 – Dh20
6027 – Dh 100
6026 – Dh 200
Earth under attack: Cosmic impacts throughout history
- 4.5 billion years ago: Mars-sized object smashes into the newly-formed Earth, creating debris that coalesces to form the Moon
- 66 million years ago: 10km-wide asteroid crashes into the Gulf of Mexico, wiping out over 70 per cent of living species – including the dinosaurs.
- 50,000 years ago: 50m-wide iron meteor crashes in Arizona with the violence of 10 megatonne hydrogen bomb, creating the famous 1.2km-wide Barringer Crater
- 1490: Meteor storm over Shansi Province, north-east China when large stones “fell like rain”, reportedly leading to thousands of deaths.
- 1908: 100-metre meteor from the Taurid Complex explodes near the Tunguska river in Siberia with the force of 1,000 Hiroshima-type bombs, devastating 2,000 square kilometres of forest.
- 1998: Comet Shoemaker-Levy 9 breaks apart and crashes into Jupiter in series of impacts that would have annihilated life on Earth.
-2013: 10,000-tonne meteor burns up over the southern Urals region of Russia, releasing a pressure blast and flash that left over 1600 people injured.
Tottenham's 10 biggest transfers (according to transfermarkt.com):
1). Moussa Sissokho - Newcastle United - £30 million (Dh143m): Flop
2). Roberto Soldado - Valencia - £25m: Flop
3). Erik Lamela - Roma - £25m: Jury still out
4). Son Heung-min - Bayer Leverkusen - £25m: Success
5). Darren Bent - Charlton Athletic - £21m: Flop
6). Vincent Janssen - AZ Alkmaar - £18m: Flop
7). David Bentley - Blackburn Rovers - £18m: Flop
8). Luka Modric - Dynamo Zagreb - £17m: Success
9). Paulinho - Corinthians - £16m: Flop
10). Mousa Dembele - Fulham - £16m: Success
Funk Wav Bounces Vol.1
Calvin Harris
Columbia
Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
Mina Cup winners
Under 12 – Minerva Academy
Under 14 – Unam Pumas
Under 16 – Fursan Hispania
Under 18 – Madenat
Diriyah%20project%20at%20a%20glance
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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.
“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.”
Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
CRICKET%20WORLD%20CUP%20QUALIFIER%2C%20ZIMBABWE%20
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Analysis
Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more
UAE%20PREMIERSHIP
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The BIO
Favourite piece of music: Verdi’s Requiem. It’s awe-inspiring.
Biggest inspiration: My father, as I grew up in a house where music was constantly played on a wind-up gramophone. I had amazing music teachers in primary and secondary school who inspired me to take my music further. They encouraged me to take up music as a profession and I follow in their footsteps, encouraging others to do the same.
Favourite book: Ian McEwan’s Atonement – the ending alone knocked me for six.
Favourite holiday destination: Italy - music and opera is so much part of the life there. I love it.
More on Yemen's civil war
Citadel: Honey Bunny first episode
Directors: Raj & DK
Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon
Rating: 4/5
Cry Macho
Director: Clint Eastwood
Stars: Clint Eastwood, Dwight Yoakam
Rating:**
MATCH INFO
AC Milan v Inter, Sunday, 6pm (UAE), match live on BeIN Sports
Scores
Rajasthan Royals 160-8 (20 ov)
Kolkata Knight Riders 163-3 (18.5 ov)
GOLF’S RAHMBO
- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)