The air bag: Learning while you commute



The past weeks have been a dizzying whirl of travel with trips to China, Mexico, Egypt, the Holy Roman Empire and Byzantine Constantinople, to name but a few.

Hang on a minute, you're probably saying. The Byzantine empire collapsed over 600 years ago, and isn't the Holy Roman Empire now called Germany? Ah, but this is a journey with several dimensions. In one direction of travel, something like 8,000 kilometres have been accumulated. In the other, we are talking about possibly two million years of human history.

All right. Enough of the mystery. Those thousands of kilometres were accumulated during the daily commute from Dubai to the offices of The National in Abu Dhabi, a trip that usually combines mind-emptying tedium and bowel-churning fear in almost equal measure.

The other journey, conducted at the same time, is a series of podcasts that have made the trip not just tolerable, but something to be anticipated.

Probably many of you are familiar with the BBC's History of the World in 100 Objects. First broadcast last year, the entire series is now available on podcast.

If you've haven't already done so, rush out and grab the lot right now (it's free by the way). Written and narrated by Neil MacGregor, the director of the British Museum, the series is nothing less than a history of humanity, carved up into easily digestible chunks about 13 minutes each.

Starting with a crude flint discovered in Tanzania's Olduvai Gorge that is among the earliest tools in human history, we are near the end of the journey, with a feathered cap from Hawaii (episode 87) presented to Captain James Cook only a few days before the islanders ran him through with their spears.

Each object represents a transitional point in the history of mankind. So a glass beaker discovered in central Europe and thought to belong to a 12th century Christian saint, turns out to be Syrian and probably collected during the Crusades. And the Sutton Hoo warrior's helmet, discovered in eastern England in the Thirties, is decorated with garnet stones imported from India 1,400 years ago.

What does any this have to do with the Motoring pages? Well, podcasts are obviously an enjoyable accompaniment to any road trip. Just listening to The History of the World gives you over 20 hours of drive time.

The History of the World series is about how we are connected and therefore why we are here, driving up and down the E11 motorway every day.

Begin with the fall of the Eastern Empire to the Ottoman Turks in 1453 that effectively denied western Europe her trade routes to the east. As a result Portuguese ships were forced to sail south around Africa, eventually reaching the Indian Ocean and the Gulf, and building forts in Ras al Khaimah and Oman.

Later the British supplanted the Portuguese in the Gulf, establishing a relationship with the Trucial States that continued after the birth of the UAE 40 years ago this December.

The warmth of that connection was celebrated last November with a state visit from Queen Elizabeth to Abu Dhabi that also saw the unveiling of plans for the new national museum on Saadiyat Island.

Accompanying the queen was the very same Neil MacGregor, who not only brilliantly gives the History of the World series its authority and accessibility, but is also one of the key advisers for the Zayed National Museum. And there's a final connection for you.

ILT20 UAE stars

LEADING RUN SCORERS
1 Nicholas Pooran, 261
2 Muhammad Waseem (UAE), 248
3 Chris Lynn, 244
4 Johnson Charles, 232
5 Kusal Perera, 230

BEST BOWLING AVERAGE
(minimum 10 overs bowled)
1 Zuhaib Zubair (UAE), 9 wickets at 12.44
2 Mohammed Rohid (UAE), 7 at 13.00

3 Fazalhaq Farooqi, 17 at 13.05
4 Waqar Salamkheil, 10 at 14.08
5 Aayan Khan (UAE), 4 at 15.50
6 Wanindu Hasaranga, 12 at 16.25
7 Mohammed Jawadullah (UAE), 10 at 17.00

Western Region Asia Cup Qualifier

Results

UAE beat Saudi Arabia by 12 runs

Kuwait beat Iran by eight wickets

Oman beat Maldives by 10 wickets

Bahrain beat Qatar by six wickets

Semi-finals

UAE v Qatar

Bahrain v Kuwait

 

COMPANY PROFILE

Company name: Klipit

Started: 2022

Founders: Venkat Reddy, Mohammed Al Bulooki, Bilal Merchant, Asif Ahmed, Ovais Merchant

Based: Dubai, UAE

Industry: Digital receipts, finance, blockchain

Funding: $4 million

Investors: Privately/self-funded

Kill

Director: Nikhil Nagesh Bhat

Starring: Lakshya, Tanya Maniktala, Ashish Vidyarthi, Harsh Chhaya, Raghav Juyal

Rating: 4.5/5

U19 WORLD CUP, WEST INDIES

UAE group fixtures (all in St Kitts)
Saturday 15 January: v Canada
Thursday 20 January: v England
Saturday 22 January: v Bangladesh

UAE squad
Alishan Sharafu (captain), Shival Bawa, Jash Giyanani, Sailles Jaishankar, Nilansh Keswani, Aayan Khan, Punya Mehra, Ali Naseer, Ronak Panoly, Dhruv Parashar, Vinayak Raghavan, Soorya Sathish, Aryansh Sharma, Adithya Shetty, Kai Smith

MATCH INFO

Fixture: Ukraine v Portugal, Monday, 10.45pm (UAE)

TV: BeIN Sports

The Internet
Hive Mind
four stars

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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