Visitors can tour Expo City in Dubai with tickets starting at Dh50. Ruel Pableo for The National
Visitors can tour Expo City in Dubai with tickets starting at Dh50. Ruel Pableo for The National
Visitors can tour Expo City in Dubai with tickets starting at Dh50. Ruel Pableo for The National
Visitors can tour Expo City in Dubai with tickets starting at Dh50. Ruel Pableo for The National

Expo City Dubai will host a free open-air cinema for one week


Evelyn Lau
  • English
  • Arabic

Expo City Dubai is hosting a free open-air cinema.

Just in time for the half-term, parents can bring their children to the event at Jubilee Park which runs from this Friday until February 18.

In collaboration with Vox Cinemas, two films will be shown per day at 6.30pm and 8.30pm and those who have paid for entrance to Expo City Dubai can also access the free cinema.

The schedule of movies announced for the first weekend are Toy Story at 6.30pm and Black Panther at 8.30pm on Friday, Finding Nemo at 6.30pm and Black Panther: Wakanda Forever at 8.30pm on Saturday, and Luca at 6.30pm and Julie & Julia at 8.30pm on Sunday. All films will be in English, with Arabic subtitles.

Spots are available on a first-come, first-serve basis. Snacks such as popcorn, nachos and hot dogs will be available for moviegoers. Entry to Expo City Dubai starts at Dh50 and tickets are available at www.expocitydubai.com.

New attractions at Expo City

Three new exhibitions were unveiled last week at Expo City Dubai, aimed at drawing crowds back to relive their memories of the world's fair.

The pavilions, called the Stories of Nations, are spread across the three districts within the site ― Opportunity, Mobility and Sustainability.

Visitors can explore memorabilia that includes sculptures, musical instruments and digital exhibits from more than 200 nations and organisations that took part in the six-month-long Expo 2020 Dubai.

The displays vary from showcasing wooden poles used in the Swedish pavilion, replicas of the swings that visitors used in the German pavilion, to a large colourful model of a turtle from the Comoro Islands made from recycled plastic bags, in the Sustainability section exhibits.

A massive circular wooden seat built from pine wood is a memory from the Austrian pavilion, a richly decorated cart with red and green sequins from Myanmar and a harp from Columbia are part of the Opportunity exhibition.

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.”

Moral education needed in a 'rapidly changing world'

Moral education lessons for young people is needed in a rapidly changing world, the head of the programme said.

Alanood Al Kaabi, head of programmes at the Education Affairs Office of the Crown Price Court - Abu Dhabi, said: "The Crown Price Court is fully behind this initiative and have already seen the curriculum succeed in empowering young people and providing them with the necessary tools to succeed in building the future of the nation at all levels.

"Moral education touches on every aspect and subject that children engage in.

"It is not just limited to science or maths but it is involved in all subjects and it is helping children to adapt to integral moral practises.

"The moral education programme has been designed to develop children holistically in a world being rapidly transformed by technology and globalisation."

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Results

Stage 7:

1. Caleb Ewan (AUS) Lotto Soudal - 3:18:29

2. Sam Bennett (IRL) Deceuninck-QuickStep - same time

3. Phil Bauhaus (GER) Bahrain Victorious

4. Michael Morkov (DEN) Deceuninck-QuickStep

5. Cees Bol (NED) Team DSM

General Classification:

1. Tadej Pogacar (SLO) UAE Team Emirates - 24:00:28

2. Adam Yates (GBR) Ineos Grenadiers - 0:00:35

3. Joao Almeida (POR) Deceuninck-QuickStep - 0:01:02

4. Chris Harper (AUS) Jumbo-Visma - 0:01:42

5. Neilson Powless (USA) EF Education-Nippo - 0:01:45

Benefits of first-time home buyers' scheme
  • Priority access to new homes from participating developers
  • Discounts on sales price of off-plan units
  • Flexible payment plans from developers
  • Mortgages with better interest rates, faster approval times and reduced fees
  • DLD registration fee can be paid through banks or credit cards at zero interest rates
Updated: February 09, 2023, 9:45 AM