Enter week two of the holy month, with a calendar full of Ramadan-themed events, activities and treats. Our recommendations take in everything from family-friendly zones and art-dedicated strolls to a digital mall and garden-side tent.
Monday, March 18
Head to Yas Bay for the third iteration of its Ramadan-themed Waterfront Nights. The pop-up event includes traditional decor, an outdoor market with clothing, perfumery and homeware brands, as well as oud and qanun players. Children will enjoy a craft corner where they can learn how to create paper lanterns. Waterfront restaurants aside, food vendors will be on hand to provide luqaimat, rigag koshari and piping hot karak.
Until Eid Al Fitr; 9pm-2am; free entry; Yas Bay Waterfront, Abu Dhabi
Tuesday, March 19
Perk yourself up with a midweek treat by way of a visit to Dubai World Trade Centre’s famed majlis, one of the city’s longest-running Ramadan destinations. Food is the main event here, with the makeshift arena offering iftar and suhoor menus made up of close to 70 dishes. Four to try include lamb ouzi, thareed stew, luqaimat and date pudding. Live music will be on offer from 10pm to 1am during suhoor, while the shisha service starts at 9pm. Complimentary parking is available in the multistorey lot on Exhibition Street.
Until Eid Al Fitr; sunset-8.30pm (iftar), Dh95 for children, Dh215 for adults; 9pm-3am (suhoor), a la carte rate; Dubai World Trade Centre; majlis.ae
Wednesday, March 20
Snap Inc, the parent company of Snapchat, has opened the virtual doors to the third iteration of its AR Ramadan Mall. Merging digital and physical worlds, the mall will enable users to browse intricately designed pop-up boutiques from 11 brands, including Caroline Herrera, Arabian Oud and BYD motors, all from the comfort of their homes. Snapchatters can also share products directly with friends on the platform. The mall can be accessed via the app’s organic lens explorer and carousel feature.
Until April 14; snapchat.com
Thursday, March 21
If you’re looking for a themed gift hamper to carry along to an iftar or suhoor bash, consider the one put together by pastry boutique Margaux in collaboration with Emirati artist Abdulla Lutfi. Using his signature black-and-white style, Lutfi has created an eco-friendly box adorned with images of families celebrating Ramadan surrounded by lanterns, crescent moons and abras. Pastry chef Alexandre Dufeu’s creations include treats such as chocolate dates, pistachio shortbread, hazelnut cookies, rose cakes, saffron honey and apricot and raspberry marshmallows.
Until April 15; Dh690; Jumeirah Mina A’Salam, Dubai; 058 601 7474
Friday, March 22
Take the family to The Galleria Al Maryah Island mall in Abu Dhabi to participate in Hag Al Laila. As part of Emirati tradition, children carry paper bags around to receive sweet treats and gifts, which is exactly what they can do on level 3 of the mall over the weekend.
On level 2 is a limited-time family playground with activities such as henna art, face-painting, Jenga, ball pit and magnetic board puzzles.
Until Sunday (Hag Al Laila); play area open until April 14; free of charge; Al Maryah Island, Abu Dhabi; thegalleria.ae
Saturday, March 23
Soak in some history and culture through Alserkal Avenue’s Stay a Little Longer Ramadan campaign. This includes a series of slow art walks, led by Hala El Abora (Arabic), Richi Bhatia (Hindi) and Amad Mian (English). Cinema Akil will screen R21 aka Restoring Solidarity by Mohanad Yaqubi, a film that explores the little-known anti-imperialism movement between Japan and Palestine. Elsewhere, a community library will be on site, curated by Bootleg Griot and Zerzura Rare Books, as will Ramadan Fair Trade and farmers’ markets.
Until March 31; 7pm-midnight; Alserkal Avenue, Dubai; alserkal.online
Sunday, March 24
Combine a road trip and Ramadan tent experience by heading to Fairmont Ajman Beach Resort, which has put up an outdoor canopy with water views. Al Fayruz Pearl Garden tent will also lay out iftar and suhoor spreads, with dishes such as lentil soup, vine leaves, hummus, fattoush, tabbouleh, spinach and cheese samosas, lamb ouzi, chicken biryani, butter chicken, mixed grill and lamb molokya on offer. Arabic entertainment and a shisha service will also be on hand.
Until Eid Al Fitr; sunset-8.30pm (iftar buffet), Dh189; 9pm-2am (suhoor menu), a la carte rate; Sheikh Humaid Bin Rashid Al Nuaimi Street, Ajman; fairmont.com
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A new relationship with the old country
Treaty of Friendship between the United Kingdom of Great Britain and Northern Ireland and the United Arab Emirates
The United kingdom of Great Britain and Northern Ireland and the United Arab Emirates; Considering that the United Arab Emirates has assumed full responsibility as a sovereign and independent State; Determined that the long-standing and traditional relations of close friendship and cooperation between their peoples shall continue; Desiring to give expression to this intention in the form of a Treaty Friendship; Have agreed as follows:
ARTICLE 1 The relations between the United Kingdom of Great Britain and Northern Ireland and the United Arab Emirates shall be governed by a spirit of close friendship. In recognition of this, the Contracting Parties, conscious of their common interest in the peace and stability of the region, shall: (a) consult together on matters of mutual concern in time of need; (b) settle all their disputes by peaceful means in conformity with the provisions of the Charter of the United Nations.
ARTICLE 2 The Contracting Parties shall encourage education, scientific and cultural cooperation between the two States in accordance with arrangements to be agreed. Such arrangements shall cover among other things: (a) the promotion of mutual understanding of their respective cultures, civilisations and languages, the promotion of contacts among professional bodies, universities and cultural institutions; (c) the encouragement of technical, scientific and cultural exchanges.
ARTICLE 3 The Contracting Parties shall maintain the close relationship already existing between them in the field of trade and commerce. Representatives of the Contracting Parties shall meet from time to time to consider means by which such relations can be further developed and strengthened, including the possibility of concluding treaties or agreements on matters of mutual concern.
ARTICLE 4 This Treaty shall enter into force on today’s date and shall remain in force for a period of ten years. Unless twelve months before the expiry of the said period of ten years either Contracting Party shall have given notice to the other of its intention to terminate the Treaty, this Treaty shall remain in force thereafter until the expiry of twelve months from the date on which notice of such intention is given.
IN WITNESS WHEREOF the undersigned have signed this Treaty.
DONE in duplicate at Dubai the second day of December 1971AD, corresponding to the fifteenth day of Shawwal 1391H, in the English and Arabic languages, both texts being equally authoritative.
Signed
Geoffrey Arthur Sheikh Zayed
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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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