Too rushed for Rashid



There are shamefully few things I know about Rashid, considering the opportunities I have been given to become acquainted. In fact, from the genial Rashid to the men who stop outside our villa to introduce themselves after the Friday prayers, I've passed up some terrific opportunities, usually blaming that despot time. Might as well have stayed in Melbourne. When my wife, two children and I moved into the Euro Hotel in Abu Dhabi - a common port for journalists joining The National about 14 months ago - we came across the hearty Rashid.

Good chance you've seen him. Big bloke from Kerala with a bushy beard, sitting in front of the tyre shop across the road from the bus terminal. As we grew a little more common to the patch, Rashid took an interest in the kids: the little girl, who was then three years old and came to be constantly on the lookout for "Washeed"; and the little boy, who at 18 months was still mainly interested in second-by-second stimulus and comforts.

There have been a few times Rashid has shown us his kindness. When my wife passed his shop with two cranky, late-afternoon kids and a flat on the front tyre of the double-decker pram, he insisted on pumping it up. On another occasion, I had pulled into a car park a short walk from his shop after a tyre blew out not five minutes after I had dropped the family at home from a day trip to Dubai. That lucky escape, the unbudging wheel nuts, the jack that could have come from the first Model T, and the fact that I had inadvertently parked in a spot with a red curb all made me realise I could do with a hand.

There was no hesitation in paying a call on Rashid, and no hesitation on his part, except to pass over a bottle of water, in shutting up shop and coming with me. Some 20 minutes later, after some sweating, some good advice on the amount of air needed to stop a tyre exploding and some easy conversation about home and family, and we were back on the road. An awkward offer to pay for labour was given short shrift, a broad smile and handshake, and the reply: "My pleasure."

A couple of months passed before I met Rashid again. As usual, it was a quick hello and a look at the clock before I had to take off, regretfully passing up his offer of a chat over a cup of tea. Somewhere in the rush to attack the next seemingly crucial task, it occurred to me that such a refusal could be not only rude, but a missed chance to get to know more about a man who seems to be at peace with himself.

I've sworn that the next time I walk past his shop, I'll have the grace to drop whatever I'm doing and stop for a chat. Hopefully the kind offer will be repeated. Apart from the good company, you're almost bound to learn something from a man like that. He may already have taught me a good deal about the proper use of time.

Company%20profile
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COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
 
 
 
 
 
 
 
The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Power: 268bhp / 536bhp
Torque: 343Nm / 686Nm
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
On sale: Later this year
Jigra
Director: Vasan Bala
Starring: Alia Bhatt, Vedang Raina, Manoj Pahwa, Harsh Singh
Rated: 3.5/5
FROM%20THE%20ASHES
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Previous men's records
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  • 2:04:55: Paul Tergat (KEN) on 28/09/2003 in Berlin
  • 2:05:38: Khalid Khannouchi (USA) 14/04/2002 in London
  • 2:05:42: Khalid Khannouchi (USA) 24/10/1999 in Chicago
  • 2:06:05: Ronaldo da Costa (BRA) 20/09/1998 in Berlin

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.”

How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

RESULTS

6.30pm Maiden (TB) Dh82.500 (Dirt) 1,400m

Winner Meshakel, Royston Ffrench (jockey), Salem bin Ghadayer (trainer)

7.05pm Handicap (TB) Dh87,500 (D) 1,400m

Winner Gervais, Connor Beasley, Ali Rashid Al Raihe.

7.40pm Handicap (TB) Dh92,500 (Turf) 2,410m

Winner Global Heat, Pat Cosgrave, Saeed bin Suroor.

8.15pm Handicap (TB) Dh105,000 (D) 1,900m

Winner Firnas, Royston Ffrench, Salem bin Ghadayer.

8.50pm UAE 2000 Guineas Trial (TB) Conditions Dh183,650 (D) 1,600m

Winner Rebel’s Romance, William Buick, Charlie Appleby

9.25pm Dubai Trophy (TB) Conditions Dh183,650 (T) 1,200m

Winner Topper Bill, Richard Mullen, Satish Seemar

10pm Handicap (TB) Dh102,500 (T) 1,400m

Winner Wasim, Mickael Barzalona, Ismail Mohammed.

TV: World Cup Qualifier 2018 matches will be aired on on OSN Sports HD Cricket channel

Joker: Folie a Deux

Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson

Director: Todd Phillips 

Rating: 2/5

COMPANY%20PROFILE
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How to report a beggar

Abu Dhabi – Call 999 or 8002626 (Aman Service)

Dubai – Call 800243

Sharjah – Call 065632222

Ras Al Khaimah - Call 072053372

Ajman – Call 067401616

Umm Al Quwain – Call 999

Fujairah - Call 092051100 or 092224411

EA Sports FC 25
The Matrix Resurrections

Director: Lana Wachowski

Stars:  Keanu Reeves, Carrie-Anne Moss, Jessica Henwick 

Rating:****

COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4