A view across the city of the famous jet d’eau, or water fountain, and Lac Léman, seen from the cathedral of St Peter.
A view across the city of the famous jet d’eau, or water fountain, and Lac Léman, seen from the cathedral of St Peter.
A view across the city of the famous jet d’eau, or water fountain, and Lac Léman, seen from the cathedral of St Peter.
A view across the city of the famous jet d’eau, or water fountain, and Lac Léman, seen from the cathedral of St Peter.

My kind of place: Geneva


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Why Geneva?

This small and expensive Swiss city remains a zone of polite refinement, where ladies wear cashmere, the pooches are pure-bred and everyone has time to chat at cafe tables. It's not buzzing - highlights include the International Museum of the Reformation, the Patek Philippe Museum, a large water jet and a floral clock, after all - but Geneva is undeniably a very pleasant place to while away time. Tourists leave with a shining new wristwatch or 10, boxes of rich chocolates or delicately flavoured macaroons and pleasant memories of floating across Lac Léman, as well as a taste for the local cheese served up in dishes such as creamy fondue moitié-moitié - half Gruyère, half Vacherin Fribourgeois cheese - completely delicious.

A comfortable bed

Given that visitors here need deep pockets, it's not surprising that big-name five- star hotels such as Kempinski and Four Seasons crowd its lakeside promenade. For a slightly more intimate welcome, try the Hotel d'Angleterre (www.dangleterrehotel.com; 00 41 22 906 55 05), a boutique five-star hotel on the Quai du Mont Blanc looking out towards that famous mountain. A double room costs from 470 Swiss francs (Dh2,260) per night, including taxes. The hotel can organise gastronomic tours to nearby Gruyères, home of the nutty-tasting hard cheese, as well as visits to a chocolate factory.

Boutique hotel, La Cour des Augustins (www.lacourdesaugustins.com; 00 41 22 322 2100), behind the cathedral square, is more modern in style, with stark white "open space" double rooms costing from 275 francs (Dh1,274) including taxes. Its spa boasts a hammam and a shocking pink, neon-lit sauna.

For a more affordable stay, try the plain but comfortable Hotel Lido (www.hotel-lido.ch; 00 41 22 731 5530) near the railway station, where double rooms cost from 160 francs (Dh741), including taxes and breakfast.

Find your feet

Geneva sits on the south-west shore of Lake Geneva, also known as Lac Léman, divided by the River Rhône River as it flows into France. Stroll along the promenade by the water's edge, looking out towards imperious snow-capped Mont Blanc and the green ridge of the Jura mountains. Paddle steamers and small boats, such as the tiny yellow public ferries or mouettes, will criss-cross your line of sight between the banks. Turn away from the water's edge opposite the floral clock in the Jardin Anglais and head up into the Old Town and the cathedral of St Peter; looking left and right you will see a barrage of well-known designer names as you cross the Rue du Rhône.

The cathedral square marks the heart of the old city and is home to the International Museum of the Reformation, which explains the city's role in cementing the Protestant Reformation in the mid-16th century. Opposite is the appropriately plain chapel of John Calvin, the French theologian who is credited with transforming the city into an autonomous state under the new religion and a centre for learning. Keep heading up the narrow streets lined with tall, shuttered town houses and stop to catch your breath in the cobbled Place du Bourg-de-Four opposite the Palais de Justice. Grab a table at La Clémence (www.laclemence.ch), a reasonably priced cafe and local institution where both the clientele and staff are friendly, before exploring the mix of clothing boutiques and fine arts shops and galleries nearby.

Meet the locals

Take a tram from Cornavin Station on the right bank to the weekend flea market at Plaine de Plainpalais, where local traders hawk everything from kitchen appliances to Swiss-army surplus. On a Saturday, continue your journey to the trendy suburb of Carouge, where a farmer's market transforms the lovely main square. You can buy all sorts of fresh produce, meats and cheeses here. After the day's business is done, the stall holders get together to enjoy the afternoon sunshine.

Book a table

Geneva is well known for fine dining, but for a table with a changing view, book a gourmet lake cruise aboard the Savoie paddle steamer. From May until September, diners can experience the talents of chef Philippe Chevrier, who normally oversees the kitchens at the two Michelin-starred restaurant Domaine de Châteauvieux outside the city. A four-course evening meal costs 103 francs (Dh486) per person (www.cgn.ch).

Shopper's paradise

Chanel, Hermès, Fendi, Dior, Yves St Laurent, Patek Philippe ... the list of design houses, jewellers and watchmakers offering VIP service along the Rue du Rhône is formidable. Fabergé has its one and only boutique in Geneva, which should tell you something.

What to avoid

Pâquis, the area directly behind the Quai du Mont-Blanc on the right bank, is where you'll find shisha cafes and authentic Middle Eastern restaurants - but be warned that it's also home to some seedy-looking, heavily curtained bars.

Don't miss

A small white tower jutting out into the lake off the right bank marks the Jetée des Pâquis, and a private beach known as Bains des Pâquis (www.bains-des-paquis.ch). For two francs (Dh9), you can unroll a towel on the shingle and take a dip in the lake.

Return flights on Etihad Airways (www.etihadairways.com) from Abu Dhabi to Geneva cost from Dh2,870, including taxes.

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.”

Business Insights
  • As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses. 
  • SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income. 
  • Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
Labour dispute

The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.


- Abdullah Ishnaneh, Partner, BSA Law 

Elvis
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The stats: 2017 Jaguar XJ

Price, base / as tested Dh326,700 / Dh342,700

Engine 3.0L V6

Transmission Eight-speed automatic

Power 340hp @ 6,000pm

Torque 450Nm @ 3,500rpm

Fuel economy, combined 9.1L / 100km

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Where to donate in the UAE

The Emirates Charity Portal

You can donate to several registered charities through a “donation catalogue”. The use of the donation is quite specific, such as buying a fan for a poor family in Niger for Dh130.

The General Authority of Islamic Affairs & Endowments

The site has an e-donation service accepting debit card, credit card or e-Dirham, an electronic payment tool developed by the Ministry of Finance and First Abu Dhabi Bank.

Al Noor Special Needs Centre

You can donate online or order Smiles n’ Stuff products handcrafted by Al Noor students. The centre publishes a wish list of extras needed, starting at Dh500.

Beit Al Khair Society

Beit Al Khair Society has the motto “From – and to – the UAE,” with donations going towards the neediest in the country. Its website has a list of physical donation sites, but people can also contribute money by SMS, bank transfer and through the hotline 800-22554.

Dar Al Ber Society

Dar Al Ber Society, which has charity projects in 39 countries, accept cash payments, money transfers or SMS donations. Its donation hotline is 800-79.

Dubai Cares

Dubai Cares provides several options for individuals and companies to donate, including online, through banks, at retail outlets, via phone and by purchasing Dubai Cares branded merchandise. It is currently running a campaign called Bookings 2030, which allows people to help change the future of six underprivileged children and young people.

Emirates Airline Foundation

Those who travel on Emirates have undoubtedly seen the little donation envelopes in the seat pockets. But the foundation also accepts donations online and in the form of Skywards Miles. Donated miles are used to sponsor travel for doctors, surgeons, engineers and other professionals volunteering on humanitarian missions around the world.

Emirates Red Crescent

On the Emirates Red Crescent website you can choose between 35 different purposes for your donation, such as providing food for fasters, supporting debtors and contributing to a refugee women fund. It also has a list of bank accounts for each donation type.

Gulf for Good

Gulf for Good raises funds for partner charity projects through challenges, like climbing Kilimanjaro and cycling through Thailand. This year’s projects are in partnership with Street Child Nepal, Larchfield Kids, the Foundation for African Empowerment and SOS Children's Villages. Since 2001, the organisation has raised more than $3.5 million (Dh12.8m) in support of over 50 children’s charities.

Noor Dubai Foundation

Sheikh Mohammed bin Rashid Al Maktoum launched the Noor Dubai Foundation a decade ago with the aim of eliminating all forms of preventable blindness globally. You can donate Dh50 to support mobile eye camps by texting the word “Noor” to 4565 (Etisalat) or 4849 (du).

Zidane's managerial achievements

La Liga: 2016/17
Spanish Super Cup: 2017
Uefa Champions League: 2015/16, 2016/17, 2017/18
Uefa Super Cup: 2016, 2017
Fifa Club World Cup: 2016, 2017

EA Sports FC 26

Publisher: EA Sports

Consoles: PC, PlayStation 4/5, Xbox Series X/S

Rating: 3/5

Last 10 winners of African Footballer of the Year

2006: Didier Drogba (Chelsea and Ivory Coast)
2007: Frederic Kanoute (Sevilla and Mali)
2008: Emmanuel Adebayor (Arsenal and Togo)
2009: Didier Drogba (Chelsea and Ivory Coast)
2010: Samuel Eto’o (Inter Milan and Cameroon)
2011: Yaya Toure (Manchester City and Ivory Coast)
2012: Yaya Toure (Manchester City and Ivory Coast)
2013: Yaya Toure (Manchester City and Ivory Coast)
2014: Yaya Toure (Manchester City and Ivory Coast)
2015: Pierre-Emerick Aubameyang (Borussia Dortmund and Gabon)
2016: Riyad Mahrez (Leicester City and Algeria)

Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

UAE currency: the story behind the money in your pockets

Developer: Ubisoft Montreal / Ubisoft Toronto
Publisher: Ubisoft
Platforms: Playstation 4, Xbox One, Windows
​​​​​​​Release Date: April 10

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UAE currency: the story behind the money in your pockets
'Brazen'

Director: Monika Mitchell

Starring: Alyssa Milano, Sam Page, Colleen Wheeler

Rating: 3/5

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers