• People watch the last Qantas 747 jet depart Sydney Airport. Reuters
    People watch the last Qantas 747 jet depart Sydney Airport. Reuters
  • People watch the last Qantas 747 jet depart Sydney Airport as Qantas retires its remaining Boeing 747 planes early. Reuters
    People watch the last Qantas 747 jet depart Sydney Airport as Qantas retires its remaining Boeing 747 planes early. Reuters
  • A Qantas Boeing 747-400, registration VH-OEJ, passes over Waverley Cemetery as it departs Sydney on its final flight in Sydney, Australia. Getty Images
    A Qantas Boeing 747-400, registration VH-OEJ, passes over Waverley Cemetery as it departs Sydney on its final flight in Sydney, Australia. Getty Images
  • People react as they watch the last Qantas 747 jet depart Sydney Airport. Reuters
    People react as they watch the last Qantas 747 jet depart Sydney Airport. Reuters
  • Alan Joyce, chief executive of Qantas, speaks in front of a Qantas 747 jumbo jet, before its last departure from the Sydney Airport. Reuters
    Alan Joyce, chief executive of Qantas, speaks in front of a Qantas 747 jumbo jet, before its last departure from the Sydney Airport. Reuters
  • Alan Joyce speaks in front of a Qantas 747 jumbo jet, before its last departure from Sydney Airport. Reuters
    Alan Joyce speaks in front of a Qantas 747 jumbo jet, before its last departure from Sydney Airport. Reuters
  • A Qantas pilot writes a message on the bottom of a Qantas 747 jumbo jet, before its last departure from the Sydney Airport. Reuters
    A Qantas pilot writes a message on the bottom of a Qantas 747 jumbo jet, before its last departure from the Sydney Airport. Reuters
  • The signature of Alan Joyce is seen at the bottom of a Qantas 747 jumbo jet. Reuters
    The signature of Alan Joyce is seen at the bottom of a Qantas 747 jumbo jet. Reuters
  • Alan Joyce and an indigenous Australian come down from a Qantas 747 jumbo jet. Reuters
    Alan Joyce and an indigenous Australian come down from a Qantas 747 jumbo jet. Reuters
  • A pilot poses on a Qantas 747 jumbo jet. Reuters
    A pilot poses on a Qantas 747 jumbo jet. Reuters
  • A Qantas 747 jumbo jet is pictured before its departure. Reuters
    A Qantas 747 jumbo jet is pictured before its departure. Reuters
  • Qantas celebrates the departure of its last 747 jumbo jet from the Sydney Airport. Reuters
    Qantas celebrates the departure of its last 747 jumbo jet from the Sydney Airport. Reuters

Last Qantas Boeing 747 flight sketches a kangaroo in the sky


Hayley Skirka
  • English
  • Arabic

Qantas's last remaining Boeing 747 traced the outline of a kangaroo in the air around Sydney on its final flight.

The Australian airline closed the book on almost five decades of flying the jet on Wednesday, July 23, when the last 747-400 departed Sydney Airport.

But before it headed to the United States, the plane's flight path formed the airline's marsupial logo in the sky.

Flight QF7474 departed Sydney just after 3pm (9am UAE time) bound for Los Angeles. Captain Sharelle Quinn, the airline's first female captain, was in command.

After several photo opportunities at the airport, Quinn took the 747 on a flyby over Sydney Harbour, the city's Central Business District and the beaches of the northern and eastern suburbs.

Images of the flight path from FlightRadar24 show that the jet beautifully traced out the shape of a kangaroo – Australia's national animal – in the air.

Captain Quinn and crew traced the outline of the Qantas logo in the air on the final Boeing 747 flight to leave Australia on July 22. Reuters
Captain Quinn and crew traced the outline of the Qantas logo in the air on the final Boeing 747 flight to leave Australia on July 22. Reuters

"I have flown this aircraft for 36 years and it has been an absolute privilege," Quinn said.

“From the Pope to pop stars, our 747s have carried over 250 million people safely to their destinations."

The jet also did a low-level overfly of Hars Aviation Museum, dipping its wings in a final farewell to the very first Qantas 747-400, which is preserved there.

The crew took the 747 onwards to the US where it landed in Los Angeles just after 1pm (midnight UAE time).

On Friday, the jet will make the 30-minute flight to the Mojave Desert, where it will join hundreds of other jets in its final resting place, in one of the world’s biggest aircraft boneyards.

Qantas has grounded most international flights until at least July 2021 because of Australian government travel restrictions. Ahead of its grounding, the 747 registration VH-OEJ proved its worth on several rescue missions to bring hundreds of stranded Australians home from the Covid-19 epicentre of Wuhan, China.

Qantas has been flying the Boeing 747 superjumbo for five decades. Courtesy Qantas
Qantas has been flying the Boeing 747 superjumbo for five decades. Courtesy Qantas

Over the past few weeks, Qantas gave Australians the opportunity to take one last flight on the storied Boeing 747. The airline always planned to retire the aircraft because of its hungry four-engine design, but the coronavirus pandemic accelerated the decision.

The jet will join hundreds of other aircraft in its final resting place in one of the world's biggest aircraft boneyards in the Mojave Desert

The airline operated three one-hour flights dubbed "farewell jumbo joy flights". These departed from Sydney, Canberra and Brisbane, and gave aviation fans a low-level pleasure trip over each city.

Tickets for the flights cost $400 (Dh1,038) for economy and $747 for business class and sold out 10 minutes after going on sale.

Ross Corrigan was one of the lucky passengers who managed to get tickets for a farewell flight.

He captured this incredible footage of Sydney from the window of the pleasure flight:

Qantas also hosted a hangar farewell event for employees ahead of the final take off. Staff remembered the airline's first delivery of a 747 (a 200 series) in August 1971, the same year that Australia opened its first McDonald's.

With its sprawling wings – big enough to span the length of 50 parked cars – the jet made international travel possible for millions of people for the first time. Qantas 747s were also at the forefront of a number of important milestones for the airline, including the first business class cabin of any airline in the world.

British Airways retires its 747 fleet

British Airways will retire its Boeing 747 fleet immediately, owing to a drop in demand during the coronavirus pandemic. Courtesy British Airways
British Airways will retire its Boeing 747 fleet immediately, owing to a drop in demand during the coronavirus pandemic. Courtesy British Airways

In the same week as Qantas said goodbye to the Boeing 747 jumbo jet, British Airways announced it was accelerating retirement plans for its fleet of the same aircraft because of the coronavirus pandemic.

The British airline, which owns 31 of the planes, said it would retire the jets with immediate effect because aviation levels are not predicted to recover to 2019 numbers until at least 2023.

The announcement came four years premature for British Airways, which had recently repainted three 747s in heritage colours as part of its centenary celebrations.

British Airways has been slowly phasing out the jumbo jets, which use more fuel than newer aircraft, in a bid to reach its commitment to net zero carbon emissions by 2050.

“This is not how we wanted or expected to have to say goodbye to our incredible fleet of 747 aircraft. It is a heart-breaking decision to have to make," said Alex Cruz, chief executive of British Airways.

“The retirement of the jumbo jet will be felt by many people across Britain, as well as by all of us at British Airways. It is sadly another difficult but necessary step as we prepare for a very different future.”

A legacy of flight

British Airways operated its first 747 flight on April 14, 1971, flying from London to New York.

In July 1989, the airline's first 747-400 – the same type that BA flies today – took to the skies, and in 1999, the airline took delivery of its last 747.

  • The 747 takes off for its first flight in 1969. All images courtesy Boeing
    The 747 takes off for its first flight in 1969. All images courtesy Boeing
  • Flight attendants pose in front of the jumbo jet.
    Flight attendants pose in front of the jumbo jet.
  • The Boeing 747 next to the 707.
    The Boeing 747 next to the 707.
  • Crowds tour the 747 for a closer look.
    Crowds tour the 747 for a closer look.
  • The iconic 747 nose.
    The iconic 747 nose.
  • A close-up of the early 747 engines.
    A close-up of the early 747 engines.
  • A mock-up of the 747 interior.
    A mock-up of the 747 interior.
  • The first 747 flight in 1969.
    The first 747 flight in 1969.
  • A 747 byline on the occasion of the Queen of the Skies 50th first flight anniversary. All photos by Boeing
    A 747 byline on the occasion of the Queen of the Skies 50th first flight anniversary. All photos by Boeing
  • The flight crew for the first flight in 1969.
    The flight crew for the first flight in 1969.
  • A 747 byline on the occasion of the Queen of the Skies 50th first flight anniversary. All photos by Boeing
    A 747 byline on the occasion of the Queen of the Skies 50th first flight anniversary. All photos by Boeing
  • Joe Sutter headed the design team and has since been known as the “Father of the 747.”
    Joe Sutter headed the design team and has since been known as the “Father of the 747.”
  • The first 747 flight in 1969.
    The first 747 flight in 1969.
  • A 747 byline on the occasion of the Queen of the Skies 50th first flight anniversary. All photos by Boeing
    A 747 byline on the occasion of the Queen of the Skies 50th first flight anniversary. All photos by Boeing
  • Pan Am 747s in the factory.
    Pan Am 747s in the factory.
  • Model mock-ups of the 747.
    Model mock-ups of the 747.
  • Crowds queue to board a 747 at an air show.
    Crowds queue to board a 747 at an air show.
  • The first 747 flight in 1969.
    The first 747 flight in 1969.
  • The 747 marked the first commercial use of the high bypass turbofan engine.
    The 747 marked the first commercial use of the high bypass turbofan engine.
  • A Boeing 747-400 flies alongside a 737-400.
    A Boeing 747-400 flies alongside a 737-400.
  • Balast tanks during the assembly of the 747.
    Balast tanks during the assembly of the 747.
  • A stamp on the side of the Boeing plant at Everett, Washington.
    A stamp on the side of the Boeing plant at Everett, Washington.
  • 747 project test pilot Jack Waddell.
    747 project test pilot Jack Waddell.

The 747 was the largest commercial aircraft in the world until the Airbus A380 came along in 2007 and set several records.

It was the first aircraft to have a flatbed seat, pioneered by British Airways in 1999. Qantas used the jet to fly the world's first non-stop commercial flight from London to Sydney in 20 hours and nine minutes. That 30-year record was only broken in 2019, when Qantas operated a 787 Dreamliner from London to Sydney direct in 19 hours and 19 minutes.

The pandemic has sparked an early end to the 747's lifespan. Virgin Atlantic and KLM are also hastening retirement plans for the jet owing to the lack of international travel demand. A dwindling number of airlines, including Air India and Korean Air, continue to fly the jumbo.

British Airways' 747s are currently grounded in the UK. They are expected to join Qantas' final Boeing 747 by reaching 35,000 feet one last time when they head to their final resting place.

Results

5pm: Warsan Lake – Maiden (PA) Dh80,000 (Turf) 2,200m; Winner: Dhaw Al Reef, Sam Hitchcott (jockey), Abdallah Al Hammadi (trainer) 

5.30pm: Al Quadra Lake – Maiden (PA) Dh80,000 (T) 1,600m; Winner: Mrouwah Al Gharbia, Sando Paiva, Abubakar Daud 

6pm: Hatta Lake – Handicap (PA) Dh80,000 (T) 1,600m; Winner: AF Yatroq, George Buckell, Ernst Oertel 

6.30pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 1,600m; Winner: Ashton Tourettes, Adries de Vries, Ibrahim Aseel 

7pm: Abu Dhabi Championship – Listed (PA) Dh180,000 (T) 1,600m; Winner: Bahar Muscat, Antonio Fresu, Ibrahim Al Hadhrami 

7.30pm: Zakher Lake – Rated Conditions (TB) Dh80,000 (T) 1,400m; Winner: Alfareeq, Dane O’Neill, Musabah Al Muhairi.  

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

WHEN TO GO:

September to November or March to May; this is when visitors are most likely to see what they’ve come for.

WHERE TO STAY:

Meghauli Serai, A Taj Safari - Chitwan National Park resort (tajhotels.com) is a one-hour drive from Bharatpur Airport with stays costing from Dh1,396 per night, including taxes and breakfast. Return airport transfers cost from Dh661.

HOW TO GET THERE:

Etihad Airways regularly flies from Abu Dhabi to Kathmandu from around Dh1,500 per person return, including taxes. Buddha Air (buddhaair.com) and Yeti Airlines (yetiairlines.com) fly from Kathmandu to Bharatpur several times a day from about Dh660 return and the flight takes just 20 minutes. Driving is possible but the roads are hilly which means it will take you five or six hours to travel 148 kilometres.

ALRAWABI%20SCHOOL%20FOR%20GIRLS
%3Cp%3ECreator%3A%20Tima%20Shomali%3C%2Fp%3E%0A%3Cp%3EStarring%3A%C2%A0Tara%20Abboud%2C%C2%A0Kira%20Yaghnam%2C%20Tara%20Atalla%3C%2Fp%3E%0A%3Cp%3ERating%3A%204%2F5%3C%2Fp%3E%0A
Gully Boy

Director: Zoya Akhtar
Producer: Excel Entertainment & Tiger Baby
Cast: Ranveer Singh, Alia Bhatt, Kalki Koechlin, Siddhant Chaturvedi​​​​​​​
Rating: 4/5 stars

The biog

Name: Abeer Al Bah

Born: 1972

Husband: Emirati lawyer Salem Bin Sahoo, since 1992

Children: Soud, born 1993, lawyer; Obaid, born 1994, deceased; four other boys and one girl, three months old

Education: BA in Elementary Education, worked for five years in a Dubai school

 

How has net migration to UK changed?

The figure was broadly flat immediately before the Covid-19 pandemic, standing at 216,000 in the year to June 2018 and 224,000 in the year to June 2019.

It then dropped to an estimated 111,000 in the year to June 2020 when restrictions introduced during the pandemic limited travel and movement.

The total rose to 254,000 in the year to June 2021, followed by steep jumps to 634,000 in the year to June 2022 and 906,000 in the year to June 2023.

The latest available figure of 728,000 for the 12 months to June 2024 suggests levels are starting to decrease.

Dengue%20fever%20symptoms
%3Cul%3E%0A%3Cli%3EHigh%20fever%3C%2Fli%3E%0A%3Cli%3EIntense%20pain%20behind%20your%20eyes%3C%2Fli%3E%0A%3Cli%3ESevere%20headache%3C%2Fli%3E%0A%3Cli%3EMuscle%20and%20joint%20pains%3C%2Fli%3E%0A%3Cli%3ENausea%3C%2Fli%3E%0A%3Cli%3EVomiting%3C%2Fli%3E%0A%3Cli%3ESwollen%20glands%3C%2Fli%3E%0A%3Cli%3ERash%3C%2Fli%3E%0A%3C%2Ful%3E%0A%3Cp%3EIf%20symptoms%20occur%2C%20they%20usually%20last%20for%20two-seven%20days%3C%2Fp%3E%0A
Museum of the Future in numbers
  •  78 metres is the height of the museum
  •  30,000 square metres is its total area
  •  17,000 square metres is the length of the stainless steel facade
  •  14 kilometres is the length of LED lights used on the facade
  •  1,024 individual pieces make up the exterior 
  •  7 floors in all, with one for administrative offices
  •  2,400 diagonally intersecting steel members frame the torus shape
  •  100 species of trees and plants dot the gardens
  •  Dh145 is the price of a ticket
BUNDESLIGA FIXTURES

Friday (all kick-offs UAE time)

Hertha Berlin v Union Berlin (10.30pm)

Saturday

Freiburg v Werder Bremen (5.30pm)

Paderborn v Hoffenheim (5.30pm)

Wolfsburg v Borussia Dortmund (5.30pm)

Borussia Monchengladbach v Bayer Leverkusen (5.30pm)

Bayern Munich v Eintracht Frankfurt (5.30pm)

Sunday

Schalke v Augsburg (3.30pm)

Mainz v RB Leipzig (5.30pm)

Cologne v Fortuna Dusseldorf (8pm)

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EElmawkaa%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Hub71%2C%20Abu%20Dhabi%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Ebrahem%20Anwar%2C%20Mahmoud%20Habib%20and%20Mohamed%20Thabet%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20PropTech%3Cbr%3E%3Cstrong%3ETotal%20funding%3A%3C%2Fstrong%3E%20%24400%2C000%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3E500%20Startups%2C%20Flat6Labs%20and%20angel%20investors%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%2012%3Cbr%3E%3C%2Fp%3E%0A

War

Director: Siddharth Anand

Cast: Hrithik Roshan, Tiger Shroff, Ashutosh Rana, Vaani Kapoor

Rating: Two out of five stars 

WWE Super ShowDown results

Seth Rollins beat Baron Corbin to retain his WWE Universal title

Finn Balor defeated Andrade to stay WWE Intercontinental Championship

Shane McMahon defeated Roman Reigns

Lars Sullivan won by disqualification against Lucha House Party

Randy Orton beats Triple H

Braun Strowman beats Bobby Lashley

Kofi Kingston wins against Dolph Zigggler to retain the WWE World Heavyweight Championship

Mansoor Al Shehail won the 50-man Battle Royal

The Undertaker beat Goldberg

 

GIANT REVIEW

Starring: Amir El-Masry, Pierce Brosnan

Director: Athale

Rating: 4/5

The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3ETwin-turbo%2C%20V8%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E8-speed%20automatic%20and%20manual%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E503%20bhp%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E513Nm%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3Efrom%20Dh646%2C800%20(%24176%2C095)%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3Enow%3C%2Fp%3E%0A
WTL%20SCHEDULE
%3Cp%3EDECEMBER%2019%20(6pm)%0D%3Cbr%3EKites%20v%20Eagles%0D%3Cbr%3EAliassime%20v%20Kyrgios%0D%3Cbr%3ESwiatek%20v%20Garcia%0D%3Cbr%3EEntertainment%3A%20Tiesto%3C%2Fp%3E%0A%3Cp%3EDECEMBER%2020%20(6pm)%0D%3Cbr%3EFalcons%20v%20Hawks%0D%3Cbr%3EDjokovic%20v%20Zverev%0D%3Cbr%3ESabalenka%20v%20Rybakina%0D%3Cbr%3EEntertainment%3A%20Wizkid%0D%3Cbr%3E%0D%3Cbr%3EDECEMBER%2021%20(6pm)%0D%3Cbr%3EFalcons%20v%20Eagles%0D%3Cbr%3EDjokovic%20v%20Kyrgios%0D%3Cbr%3EBadosa%20v%20Garcia%0D%3Cbr%3EEntertainment%3A%20Ne-Yo%0D%3Cbr%3E%0D%3Cbr%3EDECEMBER%2022%20(6pm)%0D%3Cbr%3EHawks%20v%20Kites%0D%3Cbr%3EThiem%20v%20Aliassime%0D%3Cbr%3EKontaveit%20v%20Swiatek%0D%3Cbr%3EEntertainment%3A%20deadmau5%0D%3Cbr%3E%0D%3Cbr%3EDECEMBER%2023%20(2pm)%0D%3Cbr%3EEagles%20v%20Hawks%0D%3Cbr%3EKyrgios%20v%20Zverev%0D%3Cbr%3EGarcia%20v%20Rybakina%0D%3Cbr%3EEntertainment%3A%20Mohammed%20Ramadan%0D%3Cbr%3E%0D%3Cbr%3EDECEMBER%2023%20(6pm)%0D%3Cbr%3EFalcons%20v%20Kites%0D%3Cbr%3EDjokovic%20v%20Aliassime%0D%3Cbr%3ESabalenka%20v%20Swiatek%0D%3Cbr%3EEntertainment%3A%20Mohammed%20Ramadan%0D%3Cbr%3E%0D%3Cbr%3EDECEMBER%2024%20(6pm)%0D%3Cbr%3EFinals%0D%3Cbr%3EEntertainment%3A%20Armin%20Van%20Buuren%0D%3Cbr%3E%0D%3C%2Fp%3E%0A
THREE
%3Cp%3EDirector%3A%20Nayla%20Al%20Khaja%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Jefferson%20Hall%2C%20Faten%20Ahmed%2C%20Noura%20Alabed%2C%20Saud%20Alzarooni%3C%2Fp%3E%0A%3Cp%3ERating%3A%203.5%2F5%3C%2Fp%3E%0A

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.”

Islamophobia definition

A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.

How to keep control of your emotions

If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.

Greed

Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.

Tip: Ignore the short-term hype, noise and froth and invest for the long-term plan, based on sound fundamentals.

Fear

The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.

Tip: Start with a plan, and stick to it. For added security, consider placing stops to reduce any losses and limits to lock in profits.

Hope

While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.

Tip: Set realistic goals. Be happy with what you have earned, rather than frustrated by what you could have earned.

Frustration

Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.

Tip: Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.

Boredom

Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.

Tip: Open an online demo account and get your thrills without risking real money.

How to watch Ireland v Pakistan in UAE

When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.

MATCH INFO

Europa League final

Who: Marseille v Atletico Madrid
Where: Parc OL, Lyon, France
When: Wednesday, 10.45pm kick off (UAE)
TV: BeIN Sports

Russia's Muslim Heartlands

Dominic Rubin, Oxford

Company%20profile
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MISSION: IMPOSSIBLE – FINAL RECKONING

Director: Christopher McQuarrie

Starring: Tom Cruise, Hayley Atwell, Simon Pegg

Rating: 4/5

If you go

The flights
Emirates and Etihad fly direct to Nairobi, with fares starting from Dh1,695. The resort can be reached from Nairobi via a 35-minute flight from Wilson Airport or Jomo Kenyatta International Airport, or by road, which takes at least three hours.

The rooms
Rooms at Fairmont Mount Kenya range from Dh1,870 per night for a deluxe room to Dh11,000 per night for the William Holden Cottage.

The specs

Engine: 3.9-litre twin-turbo V8
Power: 620hp from 5,750-7,500rpm
Torque: 760Nm from 3,000-5,750rpm
Transmission: Eight-speed dual-clutch auto
On sale: Now
Price: From Dh1.05 million ($286,000)

Tickets

Tickets for the 2019 Asian Cup are available online, via www.asiancup2019.com