New Year's Eve 2019: All the spectacular fireworks in the UAE - in pictures



Here's a look at all the major displays in Dubai, Abu Dhabi and the rest of the UAE.

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New Year's Eve 2019

Thousands of UAE residents ring in New Year in style

Abu Dhabi's Al Maryah Island rings in the New Year with Nancy Ajram and Tamer Hosny

Ras Al Khaimah shatters two world records with fireworks display

Review: Bruno Mars brings in the New Year in Abu Dhabi with finesse

25 Days to Aden

Author: Michael Knights

Pages: 256

Available: January 26

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.”

COMPANY PROFILE

Company name: Almouneer
Started: 2017
Founders: Dr Noha Khater and Rania Kadry
Based: Egypt
Number of staff: 120
Investment: Bootstrapped, with support from Insead and Egyptian government, seed round of
$3.6 million led by Global Ventures

Things Heard & Seen

Directed by: Shari Springer Berman, Robert Pulcini

Starring: Amanda Seyfried, James Norton

2/5

Sly Cooper and the Thievius Raccoonus

Developer: Sucker Punch Productions
Publisher: Sony Computer Entertainment
Console: PlayStation 2 to 5
Rating: 5/5

What is graphene?

Graphene is a single layer of carbon atoms arranged like honeycomb.

It was discovered in 2004, when Russian-born Manchester scientists Andrei Geim and Kostya Novoselov were "playing about" with sticky tape and graphite - the material used as "lead" in pencils.

Placing the tape on the graphite and peeling it, they managed to rip off thin flakes of carbon. In the beginning they got flakes consisting of many layers of graphene. But as they repeated the process many times, the flakes got thinner.

By separating the graphite fragments repeatedly, they managed to create flakes that were just one atom thick. Their experiment had led to graphene being isolated for the very first time.

At the time, many believed it was impossible for such thin crystalline materials to be stable. But examined under a microscope, the material remained stable, and when tested was found to have incredible properties.

It is many times times stronger than steel, yet incredibly lightweight and flexible. It is electrically and thermally conductive but also transparent. The world's first 2D material, it is one million times thinner than the diameter of a single human hair.

But the 'sticky tape' method would not work on an industrial scale. Since then, scientists have been working on manufacturing graphene, to make use of its incredible properties.

In 2010, Geim and Novoselov were awarded the Nobel Prize for Physics. Their discovery meant physicists could study a new class of two-dimensional materials with unique properties. 

 

The Kingfisher Secret
Anonymous, Penguin Books

The years Ramadan fell in May

1987

1954

1921

1888

COMPANY PROFILE

Company name: Revibe
Started: 2022
Founders: Hamza Iraqui and Abdessamad Ben Zakour
Based: UAE
Industry: Refurbished electronics
Funds raised so far: $10m
Investors: Flat6Labs, Resonance and various others

How to help

Call the hotline on 0502955999 or send "thenational" to the following numbers:

2289 - Dh10

2252 - Dh50

6025 - Dh20

6027 - Dh100

6026 - Dh200

Sarfira

Director: Sudha Kongara Prasad

Starring: Akshay Kumar, Radhika Madan, Paresh Rawal

Rating: 2/5

Our legal consultant

Name: Dr Hassan Mohsen Elhais

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

BACK TO ALEXANDRIA

Director: Tamer Ruggli

Starring: Nadine Labaki, Fanny Ardant

Rating: 3.5/5

Illegal shipments intercepted in Gulf region

The Royal Navy raid is the latest in a series of successful interceptions of drugs and arms in the Gulf

May 11: US coastguard recovers $80 million heroin haul from fishing vessel in Gulf of Oman

May 8: US coastguard vessel USCGC Glen Harris seizes heroin and meth worth more than $30 million from a fishing boat

March 2: Anti-tank guided missiles and missile components seized by HMS Lancaster from a small boat travelling from Iran

October 9, 2022: Royal Navy frigate HMS Montrose recovers drugs worth $17.8 million from a dhow in Arabian Sea

September 27, 2022: US Naval Forces Central Command reports a find of 2.4 tonnes of heroin on board fishing boat in Gulf of Oman 

Engine: 4-litre twin-turbo V8
Transmission: 8-speed auto
Power: 470hp, 338kW
Torque: 620Nm
Price: From Dh491,500 (estimate)
On sale: now

Terminator: Dark Fate

Director: Tim Miller

Starring: Arnold Schwarzenegger, Linda Hamilton, Mackenzie Davis 

Rating: 3/5

SPEC SHEET

Processor: Apple M2, 8-core CPU, up to 10-core CPU, 16-core Neural Engine

Display: 13.6-inch Liquid Retina, 2560 x 1664, 224ppi, 500 nits, True Tone, wide colour

Memory: 8/16/24GB

Storage: 256/512GB / 1/2TB

I/O: Thunderbolt 3 (2), 3.5mm audio, Touch ID

Connectivity: Wi-Fi 6, Bluetooth 5.0

Battery: 52.6Wh lithium-polymer, up to 18 hours, MagSafe charging

Camera: 1080p FaceTime HD

Video: Support for Apple ProRes, HDR with Dolby Vision, HDR10

Audio: 4-speaker system, wide stereo, support for Dolby Atmos, Spatial Audio and dynamic head tracking (with AirPods)

Colours: Silver, space grey, starlight, midnight

In the box: MacBook Air, 30W or 35W dual-port power adapter, USB-C-to-MagSafe cable

Price: From Dh4,999

HOSTS

T20 WORLD CUP 

2024: US and West Indies; 2026: India and Sri Lanka; 2028: Australia and New Zealand; 2030: England, Ireland and Scotland 

ODI WORLD CUP 

2027: South Africa, Zimbabwe and Namibia; 2031: India and
Bangladesh 

CHAMPIONS TROPHY 

2025: Pakistan; 2029: India  

Racecard

5pm: Al Maha Stables – Maiden (PA) Dh80,000 (Turf) 1,400m
5.30pm: Al Anoud Stables – Handicap (PA) Dh80,000 (T) 1,200m
6pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 1,400m
6.30pm: Arabian Triple Crown Round 2 – Group 3 (PA) Dh 300,000 (T) 2,200m
7pm: Liwa Oasis – Group 2 (PA) Dh300,000 (T) 1,400m
7.30pm: Dames Stables – Handicap (TB) Dh80,000 (T) 1,400m


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