An advertising agency for BMW that named the recent European cold front "Cooper" after its Mini has had to backtrack following the deaths of more than 360 people as a result of the weather system.
What was meant to be a cheap PR stunt by Sassenbach agency has backfired after the weather killed people across Europe, with Ukraine and Poland worst hit.
Germany's meteorology institute allows the sponsorship of weather systems as a means to fund weather monitoring in Berlin.
Sassenbach's website had said that naming the cold front after the car, costing it just Dh1,100, was a "wind and weatherproof idea" but now the Munich-based ad agency is refusing to comment further on the unfortunate correlation between the weather system and the car it aims to publicise.
BMW, Mini's parent company, has been forced to issue a statement saying it deeply regretted that the weather front had taken on "catastrophic proportions" and killed so many people.
People have been found dead in the street in some countries as temperatures plunged to as low as -38C.
Chevrolet Sonic used as musical instrument in desert rock video
Famed for their choreographed treadmill video for Here It Goes Again, which became a YouTube smash in 2006, Chicago rockers OK Go are at it again with an elaborate car-instrument video for the single Needing/Getting.
The band teamed up with Chevrolet to film a four-minute video (some of which was used as a commercial during the Super Bowl) where a Chevy Sonic outfitted with pneumatic arms designed to play instruments races through the desert outside Los Angeles, using the vehicle to play more than 1,000 instruments set up over a 3.2km stretch.
The Sonic was driven by lead singer Damian Kulash, who took stunt driving lessons to be able to handle the car in the desert terrain.
The remarkable video took four months of preparation and was shot over four days. Each piano in the video had the lowest octaves tuned to the same note so that they would play the right note no matter where they were struck.
The video has already amassed more than one million hits on YouTube; it's still got a way to go if it's to match the Here It Goes Again video, which has more than 50 million hits.
Honda loses fuel claim case
Honda has lost a court case in the US and has been forced to pay out US$10,000 to a lawyer who contested that its hybrid Civic lived up to fuel consumption expectations.
The case involving Heather Peters, 46, from Los Angeles, could spark a flood of lawsuits that potentially could cost the Japanese car maker up to $2 billion (Dh7.35bn), she says.
Peters filed the suit in the small-claims court in LA stating that the American-spec 2006 hybrid only delivered 30mpg (7.84L/100km) instead of the promised 50 to 60mpg. Honda contested the claim but was forced to pay Peters $9,867.
"At a bare minimum Honda was aware that, by the time Peters bought her car, there were problems with its living up to its advertised mileage," said Los Angeles Superior Court commissioner Douglas Carnahan.
"Sometimes big justice comes in small packages. This is a victory for Honda Civic owners everywhere," said Peters.
A proposed class-action settlement would hand the 200,000 Honda owners affected $100 to $200 each and a $1,000 credit to buy a new car, but Peters hopes owners will take the US arm of Honda to small-claims courts, which could cost it $2bn. Honda said it will appeal the decision.
A good reason to drift down to Abu Dhabi Corniche next week
You may see some crazy manoeuvres on the roads of the UAE at times but it's nothing compared with the Red Bull Car Park Drift event being held in Abu Dhabi next week.
Back for its third year in the capital, the event features some of the Middle East's top drifters who will be judged by rally and hill climbing champion driver Abdo Feghali as well as a panel of experts who will be looking out for drifting ability, car appearance, crowd reaction and tyre smoke.
Launched in Lebanon five years ago, Red Bull Car Park Drift has evolved to include competitions in Saudi Arabia, Oman, Jordan, Egypt, Iran, Bahrain and the UAE.
After 13 dates of regional heats across the region, the drifting culminates in a thrilling July final in Lebanon, where an overall winner will be determined.
This exhilarating event arrives in Abu Dhabi on Friday, February 17, at the Beach Car Park on the Corniche from 7pm.
Alex Zanardi targets motorsport return at 2013 Daytona 24 Hours
Alex Zanardi, the racer who lost both legs in a crash in 2001, has said he wants to compete at next year's Daytona 24 Hours race.
The Italian resurrected the idea after attending the 22nd birthday bash of the Chip Ganassi race team in Minneapolis, US, recently.
The two-time CART champion has turned his attention to paracycling in recent years and hopes to compete at the Paralympics later this year.
"I really want to go motor racing again, I miss clutching the steering wheel of a racing car," Zanardi told Autosport.
"[At the party] I found myself, among others, with [Jimmy] Vasser, [Juan Pablo] Montoya, [Dario] Franchitti and [Scott] Dixon. The idea of doing it all together [Daytona] popped up again: five champions from the outfit reunited in the same team.
"At the moment it's just an idea we all like. But the conditions would be there next year and I'm certain BMW and Target would be ready to support us."
UAE currency: the story behind the money in your pockets
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Company%C2%A0profile
%3Cp%3ECompany%3A%20Zywa%3Cbr%3EStarted%3A%202021%3Cbr%3EFounders%3A%20Nuha%20Hashem%20and%20Alok%20Kumar%3Cbr%3EBased%3A%20UAE%3Cbr%3EIndustry%3A%20FinTech%3Cbr%3EFunding%20size%3A%20%243m%3Cbr%3ECompany%20valuation%3A%20%2430m%3C%2Fp%3E%0A
Director: Romany Saad
Starring: Mirfat Amin, Boumi Fouad and Tariq Al Ibyari
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
SPECS
%3Cp%3EEngine%3A%20Twin-turbocharged%204-litre%20V8%3Cbr%3EPower%3A%20625%20bhp%3Cbr%3ETorque%3A%20630Nm%3Cbr%3EOn%20sale%3A%20Now%3Cbr%3EPrice%3A%20From%20Dh974%2C011%3C%2Fp%3E%0A
The Matrix Resurrections
Director: Lana Wachowski
Stars: Keanu Reeves, Carrie-Anne Moss, Jessica Henwick
Rating:****
The years Ramadan fell in May
Profile box
Founders: Michele Ferrario, Nino Ulsamer and Freddy Lim
Started: established in 2016 and launched in July 2017
Based: Singapore, with offices in the UAE, Malaysia, Hong Kong, Thailand
Sector: FinTech, wealth management
Initial investment: $500,000 in seed round 1 in 2016; $2.2m in seed round 2 in 2017; $5m in series A round in 2018; $12m in series B round in 2019; $16m in series C round in 2020 and $25m in series D round in 2021
Current staff: more than 160 employees
Stage: series D
Investors: EightRoads Ventures, Square Peg Capital, Sequoia Capital India
Anghami
Started: December 2011
Co-founders: Elie Habib, Eddy Maroun
Based: Beirut and Dubai
Sector: Entertainment
Size: 85 employees
Stage: Series C
Investors: MEVP, du, Mobily, MBC, Samena Capital
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.”
Imperial%20Island%3A%20A%20History%20of%20Empire%20in%20Modern%20Britain
%3Cp%3EAuthor%3A%20Charlotte%20Lydia%20Riley%3Cbr%3EPublisher%3A%20Bodley%20Head%3Cbr%3EPages%3A%20384%3C%2Fp%3E%0A
Terror attacks in Paris, November 13, 2015
- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany
- At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people
- Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed
- Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest
- He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France
THE%20STRANGERS'%20CASE
%3Cp%3E%3Cstrong%3EDirector%3C%2Fstrong%3E%3A%20Brandt%20Andersen%3Cbr%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3EOmar%20Sy%2C%20Jason%20Beghe%2C%20Angeliki%20Papoulia%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
RESULTS
5pm: Maiden (PA) Dh80,000 1,400m
Winner: JAP Almahfuz, Fernando Jara (jockey), Irfan Ellahi (trainer).
5.30pm: Handicap (PA) Dh90,000 1,400m
Winner: AF Momtaz, Antonio Fresu, Musabah Al Muhairi.
6pm: Handicap (TB) Dh100,000 1,400m
Winner: Yaalail, Fernando Jara, Ali Rashid Al Raihe.
6.30pm: Abu Dhabi Championship Listed (PA) Dh180,000 1,600m
Winner: Ihtesham, Szczepan Mazur, Ibrahim Al Hadhrami.
7pm: Wathba Stallions Cup Handicap (PA) Dh70,000 1,600m
Winner: Dahess D’Arabie, Fernando Jara, Helal Al Alawi.
7.30pm: Maiden (PA) Dh80,000 2.200m
Winner: Ezz Al Rawasi, Connor Beasley, Helal Al Alawi.
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