Every week, The National's Luxury magazine team puts together Black Book, a cheat sheet of the most interesting and noteworthy arrivals in fashion, watches, jewellery and cars.
Breitling
To celebrate the Six Nations rugby tournament, which runs until March 15, Breitling has created limited edition watches; the Chronomat Six Nations GMT40 and the Chronomat 32 Six Nations.
With distinct designs for each team taking part, the coloured dials denote Scotland, Ireland, Wales, England, France and Italy. The watches are offered in 40mm for men, and for the first time Breitling is nodding to the success of the women's game, with a version in 32mm. This is the fourth time Breitling has been the competition's timing partner and each watch has alternating matte and brushed stripes, the finish inspired by the stripes of the grass rugby field.
The GMT 40mm is limited to 250 pieces per country, and comes with a distinctive Rouleaux bracelet.
From Dh23,800
Loewe
Loewe’s perfume pop-up at Unesco World Heritage Site Al Ain Oasis has been extended until February 28 by popular demand. Inside a Victorian-style greenhouse that is open from 8am to 8pm, visitors can immerse themselves in a sensory journey through the fragrances from the Botanical Rainbow and Un Paseo por Madrid collections.
On February 21 and 28, visitors will be able to take part in a workshop to explore the essence of nature and a workshop to personalise their purchased bottles with dried flowers, for a unique keepsake.
Event free to attend, perfumes from Dh420
Valextra
Although relatively new to the UAE, the Italian bag company Valextra is earning a loyal fanbase. Founded in Milan, its name is a portmanteau of the Italian word for suitcase (valigia) and “extra”.
Its signature Iside top-handle bag is something of a classic in European cities, especially with a dash of colour via its Abstract scarf wrapped around the handle. Chic worn together and stylish worn separately, this might be the perfect Valentine's Day gift.
Scarf Dh800, Iside bag from Dh4,950
Azza Fahmy
The Egyptian jewellery house Azza Fahmy has released its second high jewellery collection, called Tales of the Nile. Handcrafted in 18-carat gold, each piece draws on Ottoman designs. The collection combines ancient techniques with intricate filigree work and Arabic calligraphy, decorated with gem stones such as rubellites, tanzanites, emeralds and aquamarines.
Every piece is a one-off. The Art Deco bracelets, for example, of which there are only three, come in closed and open versions with gold script wrapping around the wrist. Each one is decorated in a different colour: a single aquamarine, four rubellites or two emeralds.
Price on request
Lacoste
Lacoste's creative director Pelagia Kolotouros has unveiled The New Icon, unisex sunglasses inspired by her debut fashion show, held on the centre court at the Roland-Garros stadium in Paris.
The statement-making transparent acetate frames are oversized, rounded rectangles. Colours include light grey and light peach, with the Lacoste logo and its famous croc displayed on the temples.
Dh539
The specs
Engine: 2.0-litre 4-cylinder turbo
Power: 240hp at 5,500rpm
Torque: 390Nm at 3,000rpm
Transmission: eight-speed auto
Price: from Dh122,745
On sale: now
Brave CF 27 fight card
Welterweight:
Abdoul Abdouraguimov (champion, FRA) v Jarrah Al Selawe (JOR)
Lightweight:
Anas Siraj Mounir (TUN) v Alex Martinez (CAN)
Welterweight:
Mzwandile Hlongwa (RSA) v Khamzat Chimaev (SWE)
Middleweight:
Tarek Suleiman (SYR) v Rustam Chsiev (RUS)
Mohammad Fakhreddine (LEB) v Christofer Silva (BRA)
Super lightweight:
Alex Nacfur (BRA) v Dwight Brooks (USA)
Bantamweight:
Jalal Al Daaja (JOR) v Tariq Ismail (CAN)
Chris Corton (PHI) v Zia Mashwani (PAK)
Featherweight:
Sulaiman (KUW) v Abdullatip (RUS)
Super lightweight:
Flavio Serafin (BRA) v Mohammad Al Katib (JOR)
The specs
Engine: Dual 180kW and 300kW front and rear motors
Power: 480kW
Torque: 850Nm
Transmission: Single-speed automatic
Price: From Dh359,900 ($98,000)
On sale: Now
If you go:
The flights: Etihad, Emirates, British Airways and Virgin all fly from the UAE to London from Dh2,700 return, including taxes
The tours: The Tour for Muggles usually runs several times a day, lasts about two-and-a-half hours and costs £14 (Dh67)
Harry Potter and the Cursed Child is on now at the Palace Theatre. Tickets need booking significantly in advance
Entrance to the Harry Potter exhibition at the House of MinaLima is free
The hotel: The grand, 1909-built Strand Palace Hotel is in a handy location near the Theatre District and several of the key Harry Potter filming and inspiration sites. The family rooms are spacious, with sofa beds that can accommodate children, and wooden shutters that keep out the light at night. Rooms cost from £170 (Dh808).
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 BIO
Age: 30
Favourite book: The Power of Habit
Favourite quote: "The world is full of good people, if you cannot find one, be one"
Favourite exercise: The snatch
Favourite colour: Blue
