“It symbolises us,” says Aya Abdel Raouf, one half of the Egyptian brand Okhtein, which she co-founded with her sister, Mounaz. Featuring designs that are striking and original, Okhtein’s bags blend metal and leather.
The brand’s signature hardware – opposing arrowheads joined by a bar – embodies the bond the siblings share. “One arrow is going in one direction and the other the opposite, but still connected,” Aya explains.
Founded in 2013, Okhtein – Arabic for “two sisters” – is more than a label; it’s a love letter to kinship and heritage. “We’re only a year apart,” says Aya. “We grew up in our own little bubble. Even as children, we did all our creative projects together. Mounaz used to say: ‘I’ll only paint if Aya is in the room.’”
Their dynamic is clear – Mounaz, a fine artist with a passion for jewellery and handbags, brings the creative vision, while Aya grounds it with strategy. “The feeling of sisterhood is powerful,” Aya says. “And it’s not necessarily by blood. Your best friend could be your sister. She can be different, but she completes you.”
That ethos underpins every Okhtein piece. What began with bags has evolved into fine jewellery. The double-arrow motif now appears in rings, earrings, necklaces and bracelets – sculptural, elegant and unmistakably theirs.
“It was a natural progression,” Aya says. “Jewellery is a big part of our culture. We’re gifted jewellery for celebrations, weddings, birthdays, births. So, it is not just a pretty necklace. Jewellery is intimate. It holds memory.”
Their heritage remains the backbone of the brand. “Egypt is a fusion of African, Islamic and Coptic cultures,” says Mounaz, explaining how the country was notably absent from the fashion capitals when they were growing up. “Arabs have long been luxury consumers, but we wanted to be creators,” she adds. So they began naming bags after felucca boats and etching palms and serpents into brass – a nod to ancient Egyptian symbolism and stories.
That aesthetic was shaped by visits to Cairo’s Khan el-Khalili market, where they stumbled upon an alleyway brimming with brass artisans. “We had been toying with the idea of launching a jewellery brand,” says Mounaz. “Then we thought, why not merge the two? Brass and leather. Jewellery and handbags.”
The resulting bags, launched in 2013, were unlike anything else. Semi-circular minaudieres entirely sculpted from brass and embossed with palm motifs; sleek leather wallets finished with a decorative metal plate; and a range of clutches with a coiled brass bangle that encircles the wrist like a snake. Even leather is finished in pearlescent sheens, hammered studs and metallics, adding a modern shimmer to traditional craft.
More recently, the pair took the difficult decision to shift most of the operations to Italy for greater expertise. Some elements have remained, however. “We still keep 10 per cent of production in Egypt,” says Aya. “We’ve stayed with one of our earliest factories. The owner even wants to send his team to Italy to learn. He constantly surprises us.”
Their ethical stance brought early international attention. In 2014, a UK publication highlighted the work they do with indebted women in Egypt, making woven raffia bags. Actress Emma Watson shared the story. “We weren’t represented by an agency,” laughs Aya. “We were literally stalking stylists on Instagram.”
Today, their bags are carried by famous names such as Gigi Hadid, the Kardashians and Beyonce – a “miracle moment”, exclaims Aya.
But beneath all the celebrity sparkle lies a deeper intent. “We always wanted to build something that would last,” she explains. “It starts with being seen. Arab designers deserve space on the global stage.”
In 2020, the sisters opened their Cairo flagship, followed by their first GCC boutique in 2024 at Dubai’s City Walk. There, customers can browse both bags and fine jewellery – pieces such as the Bond ring, which reimagines the arrow motif in 18k gold, set with diamonds or emeralds, or the Snake Rod choker, a collar made with textured gold and glinting stones that feels ancient, almost mystical.
By recasting traditional motifs in gold, diamonds, sapphires, rubies and emeralds, Aya and Mounaz have done more than just expand their range. They’ve distilled sisterhood, identity and protecting artisanship into a precious art form.
“We are two little sisters from Cairo trying to make it in the fashion world,” says Mounaz. “We want to shed light on the storytelling, the values, the empowerment. We started in a workshop – now we’re in Harrods and Selfridges. I like to think we gave people the hope and the dream to start somewhere and reach their goals.”
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.”
What sanctions would be reimposed?
Under ‘snapback’, measures imposed on Iran by the UN Security Council in six resolutions would be restored, including:
- An arms embargo
- A ban on uranium enrichment and reprocessing
- A ban on launches and other activities with ballistic missiles capable of delivering nuclear weapons, as well as ballistic missile technology transfer and technical assistance
- A targeted global asset freeze and travel ban on Iranian individuals and entities
- Authorisation for countries to inspect Iran Air Cargo and Islamic Republic of Iran Shipping Lines cargoes for banned goods
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Five%20calorie-packed%20Ramadan%20drinks
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Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
TOP 5 DRIVERS 2019
1 Lewis Hamilton, Mercedes, 10 wins 387 points
2 Valtteri Bottas, Mercedes, 4 wins, 314 points
3 Max Verstappen, Red Bull, 3 wins, 260 points
4 Charles Leclerc, Ferrari, 2 wins, 249 points
5 Sebastian Vettel, Ferrari, 1 win, 230 points
Abu Dhabi GP weekend 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
Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
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
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
UAE currency: the story behind the money in your pockets
The specs
Engine: 1.5-litre 4-cyl turbo
Power: 194hp at 5,600rpm
Torque: 275Nm from 2,000-4,000rpm
Transmission: 6-speed auto
Price: from Dh155,000
On sale: now
Dr Afridi's warning signs of digital addiction
Spending an excessive amount of time on the phone.
Neglecting personal, social, or academic responsibilities.
Losing interest in other activities or hobbies that were once enjoyed.
Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.
Experiencing sleep disturbances or changes in sleep patterns.
What are the guidelines?
Under 18 months: Avoid screen time altogether, except for video chatting with family.
Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.
Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.
Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.
Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.
Source: American Paediatric Association
The biog
Name: Abeer Al Shahi
Emirate: Sharjah – Khor Fakkan
Education: Master’s degree in special education, preparing for a PhD in philosophy.
Favourite activities: Bungee jumping
Favourite quote: “My people and I will not settle for anything less than first place” – Sheikh Mohammed bin Rashid.