A woman holds up her cell phone as she plays the Pokemon Go game in Lafayette Park in Washington. AFP
A woman holds up her cell phone as she plays the Pokemon Go game in Lafayette Park in Washington. AFP

How Pokemon Go is conquering the world



If you have been active on social media in the past couple of weeks – or even just walked around the streets – you can’t help but have noticed the Pokemon Go phenomena that is sweeping the world. The new augmented-reality mobile game – a kind of a cross between orienteering and classic Pokemon collecting – requires users to venture off the sofa and out into the real world, where they use their phone’s GPS and camera to catch virtual Pokemon, the cutesy Nintendo creatures that were launched in the mid-1990s, in real locations. An official UAE release date is yet to be announced – “later this year” is the most specific it gets – but many expatriate residents have already downloaded the game from the app stores in their home countries. As a result, Pokehunters have already become a common sight on the streets of Abu Dhabi and Dubai. People in other countries have become similarly hooked, with the game already overtaking Candy Crush as the most popular mobile game yet.

United States

The US was one of the first countries to get the game – on July 6 – and it quickly established itself as a firm favourite. It shot to the top of the download charts within 24 hours, becoming the most popular mobile game in US history in a week, with more than 20 million daily active users. New York gamers have been scouring the five boroughs looking for the characters, with the most popular locations including Central Park, Brooklyn Bridge and Chinatown.

United Kingdom

The game was launched last Thursday in the UK – the fifth country to get it. It makes good use of London landmarks, with Pokemon found in Piccadilly Circus, Downing Street (above), Leicester Square and – possibly much to the annoyance of patrons – the luxurious lobby of the posh Savoy hotel.

Iceland

Iceland’s population has been universally spellbound by the heroic success of the tiny country’s national team at the Euro 2016 football championship, where they knocked England out to reach the quarter finals. Now the arrival of Pokemon Go is giving them something else to enjoy. Although the game is still not officially available there, local media reports that plenty of people are managing to download the game – and Iceland’s spectacular volcanic landscape certainly makes for a dramatic backdrop for Pokemon hunting. The creatures have been found in Reykjavik’s Old Harbour, Lutheran churches and parks.

Australia

Australia, New Zealand and the US were the first three countries to get the game – but it became a victim of its own instant success when those dreaded “our servers are experiencing issues. Please come back later” messages proved common in the early days. The Sydney Morning Herald reported hundreds of Pokehunters taking to the streets of the city within days of its release, with groups of fans even meeting up at Sydney Opera House to hunt en masse. In Singapore, meanwhile, an Australian man was sacked from his estate agent’s job after an angry Facebook rant, in which he labelled Singaporeans “stupid” on account of the game not being available there.

Patience is the key for Japanese fans

Surprisingly, the birthplace of Pokemon is late to the party. "Pokemon Go has been released in several countries, but it will take a bit longer in Japan. Please wait patiently a bit longer," Kento Suga, a marketing manager for Niantic – which developed Pokemon Go with Nintendo and The Pokemon Company – tweeted on July 6. Last week, a Pokemon company spokesman told The Japan Times: "The release date is still uncertain."

cnewbould@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.”

Race 3

Produced: Salman Khan Films and Tips Films
Director: Remo D’Souza
Cast: Salman Khan, Anil Kapoor, Jacqueline Fernandez, Bobby Deol, Daisy Shah, Saqib Salem
Rating: 2.5 stars

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Revibe%20%0D%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202022%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Hamza%20Iraqui%20and%20Abdessamad%20Ben%20Zakour%20%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%20%0D%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Refurbished%20electronics%20%0D%3Cbr%3E%3Cstrong%3EFunds%20raised%20so%20far%3A%3C%2Fstrong%3E%20%2410m%20%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EFlat6Labs%2C%20Resonance%20and%20various%20others%0D%3C%2Fp%3E%0A
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
Mission%3A%20Impossible%20-%20Dead%20Reckoning%20Part%20One
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Christopher%20McQuarrie%3Cbr%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Tom%20Cruise%2C%20Hayley%20Atwell%2C%20Pom%20Klementieff%2C%20Simon%20Pegg%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A

Director: Laxman Utekar

Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna

Rating: 1/5