Henry Leland, photographed in 1930 with a 1905 Cadillac Osceola.
Henry Leland, photographed in 1930 with a 1905 Cadillac Osceola.
Henry Leland, photographed in 1930 with a 1905 Cadillac Osceola.
Henry Leland, photographed in 1930 with a 1905 Cadillac Osceola.

Porsche to expand R&D facility in Germany


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Porsche is growing its research and development centre in Weissach, Germany. Ground was broken last week on the site, which is being expanded with the addition of a modern design studio, a high-tech wind tunnel and an electronics integration centre.

Porsche announced it is investing about €150 million (Dh793m) in the project. Matthias Mueller, chairman of the board, said the extension is a "far-sighted investment in the future of Porsche".

Uwe Hueck, chairman of the Group Works Council, said the investment will increase the number of permanent jobs and the company's independence.

The wind tunnel, to open in the first half of 2014, will enable the Stuttgart-based sports car manufacturer to cope with technological challenges in vehicle development. "Good aerodynamics make a major contribution towards low fuel consumption and high performance - both of which are important aspects in implementing Porsche intelligent performance", said Wolfgang Hatz, who is in charge of research and development.

The new offices and design studio should be ready for occupation in summer 2013.

Big event for a big car: Cadillac parade to break Guinness record

The Orleans Country Agricultural Fair, held annually in northern Vermont in the US, is looking to do something a little different this year on a grand scale.

Organisers are planning to set the Guinness World Record for the largest parade of Cadillacs. Barton, the planned starting point of the parade on August 17, is the childhood home of Henry Leland, who created the Cadillac and Lincoln companies in the early 20th century.

"Since there is a record, we feel it ought to be in Vermont," David Leland told The New York Times. David is Henry's great-great-nephew and a resident of Barton. "It is a great opportunity to recognise some of his accomplishments."

On hearing the news of the planned parade, Cadillac's public relations department has not only lent support through its dealers and social media outlets but has also promised the US$6,500 necessary to have a Guinness representative on hand to officially certify the record.

The previous record for a Cadillac parade was 102 cars in, of all places, the Netherlands, in 2002.

Insurer records 'GPS racing'

This is so not in the owner's manual.

According to research by Sainsbury's, the car insurer, 7.2 million drivers in the UK have raced to a destination to beat the predicted arrival time on their vehicle's GPS. That's just in the past year alone.

Among those, fully half admitted to breaking the speed limit to beat their GPS in the past year.

Sainsbury's calls this dangerous new driving game "GPS racing".

A further 322,000 drivers admitted to overtaking when prohibited from doing so and 241,000 have tailgated other vehicles in an attempt to save time. Shockingly - well perhaps not so shocking if you've driven at all along UAE motorways - more than 161,000 drivers have flashed their lights or gesticulated at other drivers to try to get them to speed up so they could race to their destination.

Ben Tyte, head of car insurance for Sainsbury's, said the trend was worrying and pointed to the proper use of GPS units: effective navigation.

It should come as no surprise that collisions and crashes have resulted from GPS racing - about 144,000 GPS racers admit they collided with another vehicle or hitting a parked car.

Global environmental survey finds Toyota is greenest brand

Toyota is the world's greenest brand, according to a new global survey from the international brand consultancy Interbrand. The first Best Global Green Brands examines environmental performance and public perception of a environmental sustainability - its "green profile" - to produce a Green Performance Score.

Based on data collected from the world's leading markets, including the UK, France, Germany, Italy, the United States, Japan, Brazil and India, the report gives Toyota a top score of 64.19 points, ahead of 3M in second place.

The Interbrand report said Toyota is "a leading example of making the environment a core management priority, while also engaging in a meaningful way with audiences around the world".

Toyota's development of hybrid technology was a key contributor to its score, according to the report. Since 1997, Toyota and Lexus have produced more than 3.2 million hybrid vehicle sales worldwide.

BMW wins three German design awards in new competition

BMW scooped up three awards from the German Design Council in the Automotive Brand Contest, a new international brand and design competition this year.

The winner of the Architecture and Events category was the Sestosenso light installation, created in collaboration with Flos and light designer Paul Cocksedge, while the BMW 328 Hommage won the Concept and Study category. The new BMW 6 Series Coupé came away with a prize in the Exterior category.

Presentation of the awards is next month at the Automotive Designers' Night during the Frankfurt International Motor Show.

With its Automotive Brand Contest, the German Design Council recognises the significance of the brand and brand design as factors in the success of automakers. Judges evaluated submissions for a total of 15 competition categories ranging from exterior and interior to brand design and advertising campaigns.

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

ICC T20 Rankings

1. India - 270 ranking points

 

2. England - 265 points

 

3. Pakistan - 261 points

 

4. South Africa - 253 points

 

5. Australia - 251 points 

 

6. New Zealand - 250 points

 

7. West Indies - 240 points

 

8. Bangladesh - 233 points

 

9. Sri Lanka - 230 points

 

10. Afghanistan - 226 points

 
MATCH INFO

Rugby World Cup (all times UAE)

Third-place play-off: New Zealand v Wales, Friday, 1pm

Christopher Robin
Starring: Ewan McGregor, Haley Atwell, Jim Cummings, Peter Capaldi
Three stars

Bullet%20Train
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How to apply for a drone permit
  • Individuals must register on UAE Drone app or website using their UAE Pass
  • Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
  • Upload the training certificate from a centre accredited by the GCAA
  • Submit their request
What are the regulations?
  • Fly it within visual line of sight
  • Never over populated areas
  • Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
  • Users must avoid flying over restricted areas listed on the UAE Drone app
  • Only fly the drone during the day, and never at night
  • Should have a live feed of the drone flight
  • Drones must weigh 5 kg or less
The specs: 2018 Nissan Altima


Price, base / as tested: Dh78,000 / Dh97,650

Engine: 2.5-litre in-line four-cylinder

Power: 182hp @ 6,000rpm

Torque: 244Nm @ 4,000rpm

Transmission: Continuously variable tranmission

Fuel consumption, combined: 7.6L / 100km

10 tips for entry-level job seekers
  • Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
  • Keep track of the job trends in your sector through the news. Apply for job alerts at your dream organisations and the types of jobs you want – LinkedIn uses AI to share similar relevant jobs based on your selections.
  • Double check that you’ve highlighted relevant skills on your resume and LinkedIn profile.
  • For most entry-level jobs, your resume will first be filtered by an applicant tracking system for keywords. Look closely at the description of the job you are applying for and mirror the language as much as possible (while being honest and accurate about your skills and experience).
  • Keep your CV professional and in a simple format – make sure you tailor your cover letter and application to the company and role.
  • Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
  • Don’t be afraid to reach outside your immediate friends and family to other acquaintances and let them know you are looking for new opportunities.
  • Make sure you’ve set your LinkedIn profile to signal that you are “open to opportunities”. Also be sure to use LinkedIn to search for people who are still actively hiring by searching for those that have the headline “I’m hiring” or “We’re hiring” in their profile.
  • Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
  • Be professional and patient. Always be professional with whoever you are interacting with throughout your search process, this will be remembered. You need to be patient, dedicated and not give up on your search. Candidates need to make sure they are following up appropriately for roles they have applied.

Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz

Electric scooters: some rules to remember
  • Riders must be 14-years-old or over
  • Wear a protective helmet
  • Park the electric scooter in designated parking lots (if any)
  • Do not leave electric scooter in locations that obstruct traffic or pedestrians
  • Solo riders only, no passengers allowed
  • Do not drive outside designated lanes
MWTC

Tickets start from Dh100 for adults and are now on sale at www.ticketmaster.ae and Virgin Megastores across the UAE. Three-day and travel packages are also available at 20 per cent discount.

MATCH INFO

Manchester City 3 (Silva 8' &15, Foden 33')

Birmginahm City 0

Man of the match Bernado Silva (Manchester City)

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.”

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