Travellers planning a summer getaway can take advantage of cut-price fares to several destinations as Etihad and Emirates are running flight promotions over Eid.
The national airline of the UAE has launched a summer sale with fares to select destinations reduced by 50 per cent.
Starting Thursday, the Etihad sale runs until next Wednesday. Return fares in Economy class start from Dhs995 to five locations including Casablanca, Nairobi, Athens, Bahrain and Colombo.
Etihad is also offering lower fares to the Seychelles, with rates from Dh1,895 and to Cairo for just more than Dh1,000.
Those seeking colder climes can visit Moscow from Dh1,495 or Zurich with fares from Dh1,895. Stateside, Etihad has economy fares for flights from Abu Dhabi to New York from Dh3,495. These promotional prices give travellers a wide scope when it comes to when to travel as they are valid until November 20, 2021.
UAE residents and citizens opting to visit Morocco, Switzerland or Russia can enjoy quarantine-free travel on both sides of their trip, as these countries all feature on the Abu Dhabi Green List.
Etihad passengers booking flights could also be in with the chance of winning 50 times their flight fare in Etihad Credit, as part of the airline's Year of the Fiftieth programme, which celebrates the UAE turning 50 this year.
Emirates sale: cut-price business fares from Dubai
For travellers in Dubai, Emirates is currently offering promotional fares on several of its premium flights.
Travellers can fly business class to the Maldives from Dh8,555, to Kenya from Dh9,635 or to Seychelles for a little more than Dh10,000. There are also promotional fares on business class flights to Cyprus and Greece.
These fares can be booked up until Thursday, May 20, and are valid on flights departing on or before Monday, February 28, 2022.
Economy flights to Amman, Jordan are also on sale from Emirates, with fares from Dh1,525. This flash sale is only valid until midnight on Thursday, and for travel between Tuesday, June 1 and Wednesday, December 1 this year.
If you are thinking of flying, familiarise yourself with all the documents needed for your destination. It also pays to do your research on Covid-19 case levels in countries that are open to tourists, and to find out more about local policies on mask-wearing, social distancing and other safety precautions.
Both Dubai and Abu Dhabi require travellers to show negative PCR test results when landing in the UAE, although there are exemptions in place for children.
Vaccinated residents and citizens returning to the capital from countries not on Abu Dhabi's green list, now need only quarantine for five days, instead of the previous ten.
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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.”
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
UAE currency: the story behind the money in your pockets
The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
Who has lived at The Bishops Avenue?
- George Sainsbury of the supermarket dynasty, sugar magnate William Park Lyle and actress Dame Gracie Fields were residents in the 1930s when the street was only known as ‘Millionaires’ Row’.
- Then came the international super rich, including the last king of Greece, Constantine II, the Sultan of Brunei and Indian steel magnate Lakshmi Mittal who was at one point ranked the third richest person in the world.
- Turkish tycoon Halis Torprak sold his mansion for £50m in 2008 after spending just two days there. The House of Saud sold 10 properties on the road in 2013 for almost £80m.
- Other residents have included Iraqi businessman Nemir Kirdar, singer Ariana Grande, holiday camp impresario Sir Billy Butlin, businessman Asil Nadir, Paul McCartney’s former wife Heather Mills.
Hunting park to luxury living
- Land was originally the Bishop of London's hunting park, hence the name
- The road was laid out in the mid 19th Century, meandering through woodland and farmland
- Its earliest houses at the turn of the 20th Century were substantial detached properties with extensive grounds
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