There are three pretty good reasons why I don't own a Harley-Davidson. Oddly enough, the views of Mrs Langton, who once rode a Honda 50, do not figure among them.
In order of precedence they are: that the price of even a quite modest bike would cover the annual school fees of the youngest and make a contribution to the costs of the other two at university.
Secondly, that to ride around on the roads of the UAE without the protection of the largest, strongest steel box possible seems tantamount to committing suicide. Which is illegal here, by the way.
Oh, and lastly, I don't know how to ride a motorbike.
Yet here we are at the Harley-Davidson showroom on the Sheikh Zayed Road, with six lanes of traffic thundering by outside and the rumble of the Dubai Metro overhead.
You can tell it's a Harley showroom because there is a massive dude with a scarf knotted around his skull sprawled in a corner next to something made of chrome. And that Angie, the local marketing manager, is blonde, dressed entirely in black and has a nose stud. Also, there are quite a lot of bikes and most of them look a bit scary.
We are here to experience Jumpstart, which is Harley-Davidson's way of letting you test one of their bikes even if the only prior experience you have on two wheels comes with a wicker basket and a Mickey Mouse bell. It is a motorbike that does everything a bike should do - except move.
Angie leads the way to the workshops at the back of the showroom. On the way she picks up a brochure. The models have names like "Street Bob", "Cross Bones" and "Rod Muscle". The XR 1200X promises "X-Rated Fun." I just want a promise that it won't hurt.
In a corner of the workshop is a bike mounted on its stand; the rear wheel resting on rollers.
That's it? Angie nods. The set-up doesn't exactly conjure up images of the open road, of roaring along empty desert highways, or twisting into mountain hairpins. On reflection, that's probably a good thing.
We are joined by Harley-Davidson's master technician. His name is Kannan and he sports a chain with a little gold bike and a 'tash and sideburns combo like that worn by Samuel L Jackson's character in Pulp Fiction. It feels like it would be rude to ask if he has a last name.
Kannan strides over to the Jumpstart set-up. The bike looks low to the ground, but also quite big, if not on the scale of the gigantic crimson Electra Glide tourer on the other side of the room. Asking all sorts of important technical questions seems like a good way to stall for time. Starting with, what kind of bike is it? "All the details are in the brochure," Angie says brightly. "Or you can look them up online." (Later, I do just this and see that the bike is a Softail Night Train, with an air-cooled, twin-cam engine that displaces 1584cc with torque of 117Nm @ 3,200 rpm. I still have no idea what any of this means.)
Somehow I am now sitting on the bike, with Kannan helpfully pointing out the controls. It feels oddly a bit like sitting on a horse, except a lot more complicated. There is a gear selector for the left foot and a brake for the right. The left hand controls the clutch lever and the right, the throttle, whose anti-clockwise twist seems, for some reason, counter-intuitive.
Suddenly it seems like a very good idea that the bike can't move.
A large chrome knob in front of the handlebars twists a quarter turn to the left and a red light comes on. Kannan points to a button on the right handlebar. Suddenly the master technician seems to be miming, that is his lips are moving but the only sound is a monstrous roar. For a car driver, the nearness of the engine is simultaneously thrilling and terrifying. The bike feels as if it has a life of its own; that you don't so much ride it, as tame it.
Kannan points out the gear changes. Pull in the clutch lever, flick the foot control up (or is it down?), increase the throttle. Release the clutch, gently. Gently! The engine races ahead and then, inevitably, the bike stalls. There is silence and the faint scent of hot oil.
We try this several times until a ragged change up to top gear and 100kph is achieved. "It takes about three days to get used to it," Kannan says sympathetically.
On the road, the engine would be cooled by the rush of air, but sitting stationary it is beginning to radiate heat.
I catch my leg against the exhaust pipe and feel a burning sting through the jeans. It feels like a rebuke. The bike has won.
That's really all there is to Jumpstart. Afterwards, I talk to Angie about the reality of riding a bike in the UAE. You can pass the test after a few weeks' training, but the driving school bikes are the sort of machines you most often see delivering pizzas. Making the jump up to a Harley is a whole new ball game.
Hence the very real value of Jumpstart. "You have to feel comfortable before you purchase the bike," explains Angie - and she's talking about a lot more than just the price tag.
As for this easy rider, the only practical alternative to four wheels would seem to be the wife's old Honda 50. Like the bikes I sometimes see thundering towards the horizon on the Sheikh Zayed Road, riding a Harley-Davidson seems a long way away.
MATCH INFO
New Zealand 176-8 (20 ovs)
England 155 (19.5 ovs)
New Zealand win by 21 runs
'Laal Kaptaan'
Director: Navdeep Singh
Stars: Saif Ali Khan, Manav Vij, Deepak Dobriyal, Zoya Hussain
Rating: 2/5
Liverpool’s fixtures until end of 2019
Saturday, November 30, Brighton (h)
Wednesday, December 4, Everton (h)
Saturday, December 7, Bournemouth (a)
Tuesday, December 10, Salzburg (a) CL
Saturday, December 14, Watford (h)
Tuesday, December 17, Aston Villa (a) League Cup
Wednesday, December 18, Club World Cup in Qatar
Saturday, December 21, Club World Cup in Qatar
Thursday, December 26, Leicester (a)
Sunday, December 29, Wolves (h)
The specs: 2018 Bentley Bentayga V8
Price, base: Dh853,226
Engine: 4.0-litre twin-turbo V8
Transmission: Eight-speed automatic
Power: 550hp @ 6,000pm
Torque: 770Nm @ 1,960rpm
Fuel economy, combined: 11.4L / 100km
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
Mohammed bin Zayed Majlis
Starring: Jamie Foxx, Angela Bassett, Tina Fey
Directed by: Pete Doctor
Rating: 4 stars
SOUTH%20KOREA%20SQUAD
%3Cp%3E%0D%3Cstrong%3EGoalkeepers%3A%20%3C%2Fstrong%3EKim%20Seung-gyu%2C%20Jo%20Hyeon-woo%2C%20Song%20Bum-keun%0D%3Cbr%3E%3Cstrong%3EDefenders%3A%20%3C%2Fstrong%3EKim%20Young-gwon%2C%20Kim%20Min-jae%2C%20Jung%20Seung-hyun%2C%20Kim%20Ju-sung%2C%20Kim%20Ji-soo%2C%20Seol%20Young-woo%2C%20Kim%20Tae-hwan%2C%20Lee%20Ki-je%2C%20Kim%20Jin-su%0D%3Cbr%3E%3Cstrong%3EMidfielders%3A%20%3C%2Fstrong%3EPark%20Yong-woo%2C%20Hwang%20In-beom%2C%20Hong%20Hyun-seok%2C%20Lee%20Soon-min%2C%20Lee%20Jae-sung%2C%20Lee%20Kang-in%2C%20Son%20Heung-min%20(captain)%2C%20Jeong%20Woo-yeong%2C%20Moon%20Seon-min%2C%20Park%20Jin-seob%2C%20Yang%20Hyun-jun%0D%3Cbr%3E%3Cstrong%3EStrikers%3A%20%3C%2Fstrong%3EHwang%20Hee-chan%2C%20Cho%20Gue-sung%2C%20Oh%20Hyeon-gyu%3C%2Fp%3E%0A
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.”
AUSTRALIA SQUADS
ODI squad: Aaron Finch (captain), Ashton Agar, Alex Carey, Pat Cummins, Josh Hazlewood, Marnus Labuschagne, Mitchell Marsh, Glenn Maxwell, Kane Richardson, Steve Smith, Mitchell Starc, Matthew Wade, David Warner, Adam Zampa
Twenty20 squad: Aaron Finch (captain), Sean Abbott, Ashton Agar, Alex Carey, Pat Cummins, Mitchell Marsh, Glenn Maxwell, Jhye Richardson, Kane Richardson, Steve Smith, Mitchell Starc, Matthew Wade, David Warner, Adam Zampa
Abu Dhabi Equestrian Club race card
5pm: Abu Dhabi Fillies Classic (PA) Prestige; Dh110,000; 1,400m
5.30pm: Abu Dhabi Colts Classic (PA) Prestige; Dh110,000; 1,400m
6pm: Maiden (PA); Dh80,000; 1,600m
6.30pm: Abu Dhabi Championship (PA) Listed; Dh180,000; 1,600m
7pm: Wathba Stallions Cup (PA) Handicap; Dh70,000; 2,200m
7.30pm: Handicap (PA); Dh100,000; 2,400m
The specs
Engine: 3-litre twin-turbo V6
Power: 400hp
Torque: 475Nm
Transmission: 9-speed automatic
Price: From Dh215,900
On sale: Now
MANDOOB
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Sholto Byrnes on Myanmar politics
EMILY%20IN%20PARIS%3A%20SEASON%203
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Teaching your child to save
Pre-school (three - five years)
You can’t yet talk about investing or borrowing, but introduce a “classic” money bank and start putting gifts and allowances away. When the child wants a specific toy, have them save for it and help them track their progress.
Early childhood (six - eight years)
Replace the money bank with three jars labelled ‘saving’, ‘spending’ and ‘sharing’. Have the child divide their allowance into the three jars each week and explain their choices in splitting their pocket money. A guide could be 25 per cent saving, 50 per cent spending, 25 per cent for charity and gift-giving.
Middle childhood (nine - 11 years)
Open a bank savings account and help your child establish a budget and set a savings goal. Introduce the notion of ‘paying yourself first’ by putting away savings as soon as your allowance is paid.
Young teens (12 - 14 years)
Change your child’s allowance from weekly to monthly and help them pinpoint long-range goals such as a trip, so they can start longer-term saving and find new ways to increase their saving.
Teenage (15 - 18 years)
Discuss mutual expectations about university costs and identify what they can help fund and set goals. Don’t pay for everything, so they can experience the pride of contributing.
Young adulthood (19 - 22 years)
Discuss post-graduation plans and future life goals, quantify expenses such as first apartment, work wardrobe, holidays and help them continue to save towards these goals.
* JP Morgan Private Bank
Europe’s rearming plan
- Suspend strict budget rules to allow member countries to step up defence spending
- Create new "instrument" providing €150 billion of loans to member countries for defence investment
- Use the existing EU budget to direct more funds towards defence-related investment
- Engage the bloc's European Investment Bank to drop limits on lending to defence firms
- Create a savings and investments union to help companies access capital
Company profile
Company: Verity
Date started: May 2021
Founders: Kamal Al-Samarrai, Dina Shoman and Omar Al Sharif
Based: Dubai
Sector: FinTech
Size: four team members
Stage: Intially bootstrapped but recently closed its first pre-seed round of $800,000
Investors: Wamda, VentureSouq, Beyond Capital and regional angel investors
More on Quran memorisation:
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Hydrogen: Market potential
Hydrogen has an estimated $11 trillion market potential, according to Bank of America Securities and is expected to generate $2.5tn in direct revenues and $11tn of indirect infrastructure by 2050 as its production increases six-fold.
"We believe we are reaching the point of harnessing the element that comprises 90 per cent of the universe, effectively and economically,” the bank said in a recent report.
Falling costs of renewable energy and electrolysers used in green hydrogen production is one of the main catalysts for the increasingly bullish sentiment over the element.
The cost of electrolysers used in green hydrogen production has halved over the last five years and will fall to 60 to 90 per cent by the end of the decade, acceding to Haim Israel, equity strategist at Merrill Lynch. A global focus on decarbonisation and sustainability is also a big driver in its development.